Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

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Source Institution:
University of Florida
Holding Location:
University of Florida
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This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item
Resource Identifier:
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9994850 ( OCLC )
UF00084249_02900 ( sobekcm )

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Full Text





THEY'RE BACK
MIGHTY WINGS

HIGH
LOW



Volume: 103 No.152

WEATHER

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Revelation on
talk show raises
serious election
questions

@ By BRENT DEAN
Tribune Siaff Reporter

A YOUNG man has publicly
alleged that he has voted twice,
and is in possession of several
voters cards, yet he is not a
Bahamian citizen. -

The young man made these
statements on the More FM
radio talk-show Real Talk Live
with Jeffrey Lloyd yesterday,
bringing into question the
integrity of the Bahamian elec-
toral process.

The 29-year-old man, simply
identified as Charlo, said that
he was born in the Bahamas to
a Bahamian father and a
Jamaican mother who had per-
manent residence, but they
were unmarried.

As a result, Charlo did not
automatically receive citizen-
ship. He said he had applied
through the department of
immigration for citizenship, but,
after 12 years, he is still wait-
ing for a final reply.

Charlo claims he voted both
in 1997 and 2002, and the only
reason he didn’t vote in the
most recent election was
because he was upset that nei-
ther party addressed a national
immigration policy, which
leaves thousands of people in
the Bahamas stateless — espe-
cially in the cases of those of
Haitian ancestry.

“The FNM government,.and
the PLP government, I voted
for the two of them, but appar-

ently, no-one looks like they
interested in sorting this issue
out. So, I just decided to stay
home,” he said.

When asked by Mr Lloyd
how he was able to register the
first time, without showing a

- proof of citizenship, Charlo said

that he was accompanying an
employer, who was getting reg-
istered at the time — presum-
ably in 1997 — when the employ-
er suggested he register, too.

According to Charlo, the staff
member of the parliamentary
registration department asked
him if-he was Bahamian, to
which he replied, “yes”.

He further claims that he
merely showed school identifi-
cation, rather than proof of cit-
izenship, and was able to com-
plete the registration process.

Parliamentary registrar, Errol
Bethel, said he could not com-
ment specifically on the case,
as he has no report, or infor-
mation, on the allegation.

But Mr Bethel assured the
public that first-time voters are
required to show proof of citi-
zenship in order to register to
vote.

Mr Bethel added that he has
not received formal complaints
that non-citizens have, or are,
voting.

If these allegations are true,
then the question arises as to
how many of the thousands of
stateless Haitians are illegally
registering and voting in
Bahamian elections.

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@ MOTORISTS had to slow down in the Montagu Beach area as flood waters forced them into one lane — a problem which sential

to be recurring across the island

@ By ALISON LOWE
Tribune Staff Reporter

IT would not be “fair” -to say
that there is a significant flood-
ing problem in New Providence,
a chief engineer at the Ministry
of Works said yesterday.

However, engineer Howard
Barrett explained that tide lev-
els and intensity of rain — both

outside the ministry’s control
— have an impact on how
quickly water can drain off after
rain falls in New Providence.

And despite his reluctance to
admit to the existence of a
flooding problem, he revealed
that there is a ministry study
underway.

“In terms of capital develop-
ment there is a study which is

(Photo:Felipé Major/Tribune staff)

now ongoing that we are look-
ing at and coming out of that
that will drive the nature of the
development that will take
place,” he said.

He could not say when the
study began or when it is likely
to conclude.

Mr Barrett said that the min-
istry is involved in a continuous
effort to maintain the drainage

system, and this wiil be stepped

up in the lead up to the hurri-
cane season.

Previously, Public Works
Director Melanie Roach has
been reticent about the issue of
flooding in New Providence.

Ms Roach has denied that
there is a serious problem, and

SEE page 10

Rigby defends $80m of
contracts signed by PLP

@ By PAUL TURNQUEST
Tribune Staff Reporter

PLP national chairman Ray-
nard Rigby defended his par-
ty’s awarding of $80 million
worth of contracts in the run-up
to the May 2 general election,
stating that there was nothing
“illegal or improper” about the
issuance of any of them.

Mr Rigby warned the FNM
that they would be setting a
“dangerous precedent” by sus~
pending or cancelling any of
the contracts.

These remarks came as a
direct response to those of
FNM Senator Johnley Fergu-
son, who revealed to the press
yesterday the alarming figures
about which he said the public’



can expect further comment.

Mr Rigby said, however, that
he found it incredible that Mr
Ferguson, who is not a minister
of the newly-appointed FNM
government, had access to the
files of the Ministry of Works.

“The last time I checked, Mr
Ferguson was not one of the
members of Hubert Ingra-
ham’s gussiemae cabinet. As a
political novice it is clear that
Mr Ferguson does not have an
understanding of the role that
he plays and the role of those
who are members of the
gussiemae cabinet. This is sim-
ple politics 101. He had better
get up to the mark,” Mr Rigby
said.

SEE page 10

les & Biscuits

Ferguson mocks decision
by PLP to contest seats

@ By KARIN HERIG

Tribune Staff Reporter

THE PLP made their bed in
terms of constituency cuts and
now have to lie in it, FNM vice-
chairman Johnley Ferguson
said yesterday.

Responding to the PLP’s
announcement that it is look-
ing into the possibility of con-
testing up to five seats in elec-
tion court, Mr Ferguson told
The Tribune yesterday:

“If the PLP feel aggrieved,
that’s amazing. They are the
ones who set the rules, they are
the ones who cut the bound-
aries, they are the ones who
had half of a polling station in
one constituency and the other
half in the next one,” he said.

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Mr Ferguson pointed out
that Prime Minister Hubert
Ingraham — who was the leader
of the opposition at the time
the boundaries were cut — cau-
tioned the PLP and warned
them that the new division of
constituencies “didn’t make
good sense and could result in
problems.”

“But Mr (Perry) Christie was
the prime minister then and his
advisers, whoever they were,
advised him that this was the
right thing to do. Now for them
it backfired and they are crying
wolf,” Mr Ferguson said.

Prime Minister Ingraham in
his first public address after the
election accused the PLP of

SEE page 10





Peta







Lhe Bahamas ‘Conference 3
Sf Lge Wethodist Church

The President of the B.C.M.C.
offers a personal invitation for persons to attend the
Spiritual Growth Conference

MRS. KENRIS L.
CAREY

My dear friends:

I write to you just days away from the beginning of our 2007 Spiritual Growth
Conference with my personal invitation for you to attend the sessions of the
Conference as will be outlined below.

The Conference will take place at Ebenezer Methodist Church, East Shirley
Street, Nassau. We are pleased to welcome to our Conference Bishop James
Swanson from the Holston Conference of the United Methodist Church. Bishop
Swanson is very involved in the World Methodist Council and we are privileged
to have him with us. Also joining us will be the Rev. Dr. Dan Johnson from the
United Methodist Church in Gainesville, Florida. Dr. Johnson is a published
author in Old Testament studies and will give the Key Note address on Wednesday
and Thursday nights, May 23 and 24 at Ebenezer Methodist Church. He will
also conduct the Bible Study on Thursday morning, May 24 at 9.30 a.m.
Bishop Swanson will be the Key Note speaker on Friday night, May 25 and the
Bible Study on Friday morning at 9:30 a.m.

I want to stress the fact that the Spiritual Growth Conference is open to everyone.
I know vou won’t regret it if you come to some of the sessions. On Sunday,
May 27, 2007 all Methodist Churches in the Bahamas Conference will close for
the 11:00 a.m. services. We will all gather at the Queen’s College Auditorium
for a United Worship Service. Bishop James Swanson will be the Guest Preacher.
You won’t want to miss this event. I expect all of our Methodist Members and
friends to be present.

I invite you to pray with us as we prepare for a fresh anointing of the Holy Spirit.
May God Bless you.

‘Kenris L. Carey
President

ye ivitual Growth re
Programme —



| Wednesday, May 23, 2007

1:30 p.m. — Business Session — Ebenezer Sanctuary
4:30 p.m. Communion Service
7:30 p.m. Evening Session. Worship Coordinator Rev. Bill Higgs

a * Preacher: Rev. Dr. Dan Johnson
Thursday, May 24, 2007 — Aldersgate Day
9:30a.m. Bible Study Worship Coordinator: Rev. Godfrey Bethell
Bible Study Leader: Rev. Dr. Dan Johnson
Workshops. (Workshops end at 4:00 p.m. and will take place at
Epworth Hall) a8

2:00p.m.

1. Faith and Healing — Rev. Marie Neilly
. Spirit Filled Preaching — Rev. Mark Carey
. Growing a Church John Wesley’s Way — Rev. Dr. Stephen Hale
4, Practicing Excellence in our Faith and Finances — Rev. Philip
Stubbs
5. Relational Evangelism — Rev. Diego Flores
7:30 p.m. — Evening Session. Worship Coordinator: Rev. Mark Carey
Preacher: Rev. Dr. Dan Johnson
Friday, May 25, 2007
9:30am. Bible Study Worship Coordinator: Rev. Carlos Thompson
Bible Study Leader: Bishop James Swanson
Workshops: (Same location as Thursday)
1. Transition and Change: Discerning God’s Will For My Life.
Rev. Carla Culmer
2. The Life and Work of Charles Wesley — Rev. Charles Sweeting
3. Implementing Changes In Churches To Stimulate Growth
Rev. James Neilly
4. Excellence in Spiritual Leadership _ Rev. Dr. Laverne Lockhart
5. Foundations For Practicing Excellence — Bishop James Swanson
6. Excellence: Act or Attitude? — Rev. Bill Higgs
7. Into the Deep: The Truth About Spousal Abuse, Domestic Violence
and Rape — Rev. Christopher Neely. -
Evening Session. Worship Coordinators: Pastors Martin and -
Sharon Loyley.
Preacher: Bishop James Swanson

Saturday, May 26 2007

8:00 a.m. — Breakfast - Epworth Hall

9:00 a.m. Special Seminar on Personal Growth and Leadership
Worship Coordinator: Rev. James Neilly

', Presenter: Bishop James Swanson
Lunch — Epworth Hall
Closing Worship
Youth Activity
Day Session at Adventure Learning Camp —
Coordinators: Mr. Charles Moss; Rev. Marie Neilly; Mr. Henry
Knowles

2:00 p.m.

7:30 p.m.

1:00 p.m.
2:00 p.m.

9:30 a.m.

7:30 p.m. SPIRITUAL GROWTH CONFERENCE CONCERT -—
EBENEZER

Coordinator: Mr. Maxwell Poitier

Sunday, May 27, 2007

11:00 a.m. UNITED WORSHIP SERVICE - Queen’s College Auditorium
Worship Coordinator: Rev. Carla Culmer

Preacher: Bishop James Swanson

March of Witness immediately following worship— Queen’s College
to Village Road Round-About and back to Q.C.

12:30 p.m.

MN NNN RRR

Further information available from all BCMC Methodist Churches and f
| the BCMC Office: Phone 393-3726. Fax: 393-8135 Spe eae



PAGE 2, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



LOCAL NEWS



Foulkes stresses
commitment to
developing port

MINISTER of Maritime
Affairs and Labour Dion
Foulkes reiterated the
Bahamas’ commitment to the
growth and development of the
port of Nassau during a press
conference at his ministry yes-
terday. ;

Mr Foulkes remarked that of
the five million tourists that vis-
it the Bahamas annually,
around three million of them
do so via the port of Nassau.
This fact, he said, makes the
port an “invaluable part” of the
socio-economic development of
the Bahamas.

“In addition to the large num-
ber of pedestrian traffic through
Prince George Wharf which
serves as the gateway for visi-
tors to New Providence, Festi-
val Place teems with vendors,
visitors and users alike, creat-
ing an atmosphere: here at the
port of Nassau that is very sim-
ilar to that of the port of Palm
Beach.

The press conference was
called to announce a series of
meetings between Mr Foulkes
and officials from various inter-
national ports, the first of which

if being held with officials from

Palm Beach. .
“The two ports also share

similarities in terms of their day-

to-day operations which include

-those related to containerised

operations, dry, liquid bulk and
break bulk and roll on/roll off
cargo,” he said.

“The port of Palm Beach also
acts as an important distribu-
tion centre for commodities
being shipped primarily through
the Caribbean. One of the gov-
ernment’s objectives, as out-
lined in Manifesto 2007, is for
the establishment of linkages in
the economic sector.

“It is my belief that the rela-



@ DION Foulkes

tionship between the port of
Palm Beach and the port of
Nassau could play a key role in
expanding the economic link-
ages in the economic sector this
government is desirous of, while
allowing officials from both
ports to share expertise and
training in a number of areas
which is paramount to the sur-
vivability of ports worldwide,”
the minister said.

Due to the similarities
between the two ports, Minister
Foulkes said that opportunities
are available to both countries
to share expertise in a number
of areas including cruise ship-
ping, port security and con-
tainerised shipping; all in an
effort to ensure the future
growth and development of
both entry ways.

“IT am told that the Port of
Palm Beach ranks as the

fourth busiest port in Florida
and the 18th busiest port in
the United States of America.
This confirms that the port of
Palm Beach is growing a con-
siderable amount of traffic and
we would wish to have the
port of Nassau to be able to
participate from this increas-
ing trade.

“The relationship between
the two ports is nothing new, as
the Port Department, led by
Captain Anthony Allens, has
engaged in previous discussions
with Port chairman Wayne
Richards and his staff.

“We today, however, wel-
come this renewed commitment
and look forward to a fantastic
relationship between the two
entities and indeed the State of
Florida and the Commonwealth
of the Bahamas in our future
endeavors,” he said.

D>

@ COLONEL HILL, Crooked Island — Crooked Is

land High School students Berkley Pinder (left)



and Shanell Moss performing a skit at the E Clement Bethel National Arts Festival adjudication.

Their performance placed them near the top of their division so far



@ CROOKED
island High School
student Berkley
Pinder creating
beats, on May 16

@ CABBAGE Hill
Primary School
students
performing on May
17.

(Photos: BISEric
Rose



THE TRIBUNE





On brief

Jamaican

admits to |
cultivating |
marijuana |

A JAMAICAN man
pleaded guilty in Magistrate’s
Court yesterday to drug
charges in connection with
the discovery of 134 pounds
of marijuana as well as a field
of 191,150 marijuana plants.

Richard Robinson, 34 , of
Brown’s Town, Kingston
appeared before Magistrate
Renee McKay at court six in
Parliament Street yesterday
on charges of cultivation of
dangerous drugs, possession
with intent to supply, con-
spiracy to cultivate and con-
spiracy to possess with the
intent to supply.

It is alleged that on Tues-
day April 3, 2007, while at
Stafford Creek Andros,
Robinson, being concerned
with others, was found cul-
tivating marijuana.

It was alleged that on the
same date, Robinson, being
concerned with others while
at Stafford Creek, was found
in possession of a. quantity
of marijuana with the intent
to supply it to another.

The charges also claim that
between Wednesday, Octo-
ber 4, 2006 and Tuesday
April 3, 2007 while at
Stafford Creek, being con-
cerned with others, Robin-
son conspired to cultivate
marijuana and conspired to
possess a quantity of mari-
juana with the intent to sup-
ply.

Robinson, who pleaded
guilty to all charges, was
remanded to Her Majesty’s
Prison and his sentencing has
been deferred to May 29
which is when he is sched-
uled to appear before Mag-
istrate Carolita Bethel.

Seven other persons —
some Jamaican and some
Bahamian — have already
been arraigned on similar
charges. They all pleaded not
guilty and are awaiting trial.

St Lucia PM
returns from
US after
treatment

m@ ST LUCIA
Castries

PRIME Minister Sir John
Compton has returned from
the United States where he
received treatment following
a series of strokes, but offi-
cials gave no indication Mon-
day of whether he will be able
to resume Official duties,
according to Associated Press.

Compton, 83, flew to the
Caribbean island from New
York on Saturday, said
Stephenson King, the acting
prime minister.

A government statement
said Compton has begun
therapy to improve the co-
ordination of his legs and is
speaking more slowly than
usual, but said he did not suf-
fer any brain damage. It
promised to regularly update
the former British colony of
on Compton’s condition.

TROPICAL
EXTERMINATORS

eee
gi a ada a Ye



LOCAL NEWS

WEDNESDAY, MAY 23, 2007, PAGE 3

Child Protection Act: questions






are raised on its enforcement .

m@ By ASHLEY THOMPSON

CONCERNED Bahamians
are questioning why the Family
and Child Protection Act is still
not being enforced — even
though it was passed by parlia-
ment months ago.

Clever Duncombe, president
of Bahamian Fathers for Chil-
dren Everywhere, asked: “Why
is it taking so long for this act to
be implemented?”

For the past few months,
there has been talk about pos-
sible dates to begin enforcement
of the act, but not date has been
announced as yet.

This raises concerns for citi-

zens such as Mr Duncombe,
who stresses that “children and
men are getting hurt” as long
as the old legislation is being
used because it does not offer as
much protection for children as
this new act does, nor does it
guarantee single men the right
to see their children.

The Family and Child Pro-
tection Act was passed by the
House of Assembly and the
Senate in late November 2006.
The main advocate for this act

Campaigner asks why new |

law not being enforced

was former Minister of Social
Services and Community
Development, and current MP
for Yamacraw, Melanie Grif-
fin.

The Family and Child Pro-
tection Act incorporates
changes to the law such as
harsher punishments for those
found guilty of child abuse.

The act makes it possible to
prosecute those aware of any
forms of abuse taking place —
be it mental, sexual, physical,
verbal, or emotional — who do
not report it to the appropriate
authorities.

It will also allow for the pros-
ecution of those who do not
take proper care of and respon-
sibility for their children.

The act raises the age of crim-
inal responsibility from seven
to 10, as well as raising the age

of criminal detainees from 16
to 18.

Some of these commitments
carried out by the Family and
Child Protection Act arise from
the Bahamas being one of the
nations that signed and ratified
the United Nations' Conven-
tion on the Rights of the Child
in 1991.

This convention outlines the
rights of children, before and
after birth, worldwide. It
requires that a signatory coun-
try's laws be adapted to match
the commitments made by sign-
ing the convention.

This new act also updates
previous legislation, including
the Children and Young Per-
sons (Administration of Justice)
Act, the Maintenance and Emi-
grants Act, the Guardianship
and Custody of Infants Act, the

H CLEVER Duncombe

Affiliation Proceedings Act, and
the Infants Relief Act. It also



created adjustments to other
miscellaneous acts.

Vendor pleased at straw market review
— but urges government to consult

@ By BRENT DEAN
Tribune Staff Reporter

A STRAW vendor is delight-
ed that the FNM government
is reviewing the contract for the
new straw market.

However, she cautions that
the new government must con-
sult with straw vendors about
their plans — unlike the previous
regime.

Marisol Morley expressed her
opinion on the review of the
straw market contract, and sus-
pension of work on the site, in
an interview yesterday with The
Tribune.

Many vendors, she claims, did
not want the planned multi-sto-
ried market, as there is a strong
desire among the group to
remain together on a single lev-
el.

“Everybody just wanted to
be on one level. They (the ven-
dors) don’t need anything fan-
cy,” she said.

Ms Morley also criticised
what she claims was the lack of
consultation of the vendors by
the previous government.

“We would definitely like the
new government to consult the
vendors, because the vendors
know what they want,” she said.

Despite the criticism of the
market by Ms Morley and sev-
eral of her colleagues, a large
number of vendors celebrated
with former Prime Minister
Christie at the contract signing,
declaring how pleased they
were with the proposed plan.

The $23 million structure,
proposed by the PLP, was due
to be completed by August 2008
with work having commenced
a few days before the general
election. :

The then minister of works,
Bradley Roberts, hailed the
project as the largest sum of
money any Bahamian govern-
ment has invested in a single
government building.

According to the contract

now under review, the new mar-
ket consists of three levels, and
is expected to house some 600
vendors.

The third level of the market
was to include a five thousand
foot commercial space and a
five thousand foot restaurant.

Another key feature of the
plan was a one hundred foot
observation tower, offering
panoramic views of the city of
Nassau and its historic harbour.

The commercial spaces and

. observation tower were to serve

as revenue generators — over
time assisting in paying for the
overall capital investment.

At the contract signing, Mr
Roberts criticised the previous
FNM government for their






































modest vision — a $3.03 million
market. However, with the gov-
ernment back in the hands of
Prime Minister Hubert Ingra-
ham, significant downsizing may
occur to the PLP’s plan for an
international show-piece mar-
ket on Bay Street.

Ms Morley added that many
of the vendors are patient
regarding the government’s
review of the contract and
would like them to take their
time to ensure that the struc-
ture is properly erected.

In the meantime, she said,
vendors at the temporary mar-
ket need a new tent covering,

as the current material is worn

out, which has led to flooding
problems when it rains.

West Bay St.-Cable Beach

P.O. BOX CB-13270
NASSAU, BAHAMAS
TEL (242) 327-3373
FAX (242) 327-1408

EMAIL:

JCANOE@CORALWAVE.COM



For the special man in your life... .

Select from our fabulous collection of
men’s fashions and accessories

reen Shops
Telephone: (242) 362-6656
Bayparl Building, Parliament Street
Telephone: (242) 323-8240
Fax: (242) 326-9953
P.O. Box N-121, Nassau, N.P., Bahamas
e-mail: info@colesofnassau.com







Cafe Johnny Canoe will no longer be
serving breakfast as of

Wednesday the 23rd of May, 2007.

We will continue to serve lunch and
dinner from 11:30 a.m. to
11:00 p.m. Sunday to Thursday and
11:30 a.m. to midnight on
Friday and Saturday.

We are sorry for any

inconvenience.

-The Management of
Cafe Johnny Canoe-

CEL teectenditncenl YY Niemen





PAGE 4, WEDNESDAY, MAY 23, 2007 THE TRIBUNE

The Tribune Limited Examining

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, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, SS DON 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



Rigby misses point on contract issue

ALTHOUGH RACE and racial issues are
an acceptable subject for debate, the subject is
not acceptable during an election campaign,
especially if it’s used for propaganda purposes
to divide a nation.

So also every administration has the right
and even the duty to issue contracts, but rush-
ing out $80 million worth of contracts just
before an election is certainly an eyebrow-rais-
er and should be questioned by a new admin-
istration.

And this is just what FNM vice chairman
Senator Johnley, Ferguson did yesterday in a
statement on behalf of his party, and presum-
ably his government.

Mr Ferguson made his comments in reply to
criticism by PLP chairman Raynard Rigby
about the FNM’s decision to put on hold the
construction of the straw market building until
the plans for this structure could be reviewed.

On Sunday, Mr Rigby described the decision
‘to review the contract as “an act of betrayal and
the grossest of witch-hunting by the FNM.”

In an attempt to deflect the public’s atten-
tion from the contracts, Mr Rigby now wants
Mr Ferguson to explain “why he has access to
the files of the Ministry of Works.” It is obvi-
ous, Mr Rigby, that to call a press conference to
discuss government contracts, the minister
must have authorised Mr Ferguson to make the

people’s business available to them. In fact it is

doubtful that the public is interested in how Mr
Ferguson got his information, they would much
rather have answers to how their money is
being spent.

_So let’s forget about the messenger and
concentrate on the message.

On May 10 we disclosed in this column a
frantic message that we received from a civil
servant about these very contracts, in addition
to rushed promotions and last minute salary
increases for civil servants.

“Tf Mr Ingraham wins this election,” said the
caller about a week or two before the May 2
election, “I feel sorry for him. He’ll turn grey
when he discovers what they have been up to.
They have broken the country.”

And so, even before the election, smoke
signals were rising to alert certain citizens that
mischief was possibly afoot.

Mr Rigby claims that “Mr Ferguson does
not understand that government has a right
to issue contracts and that a new administration
does not have a legal right to either suspend or
terminate the contracts simply because they
were awarded by the previous administration.”

We are certain that Mr Ferguson is aware of

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all of this, but where Mr Rigby misses the boat
is his claim that the contracts are being scruti-
nised because they have been awarded by the

“previous administration.” This is not true.
The contracts are being reviewed to make cer-
tain that the previous administration in award-
ing them had the best interest of the public in
mind. Also that the taxpayer is getting his
money’s worth and is not paying for a bloated
or unnecessary contract. No one is saying that
this is so. However, if the contract price or the
ability of the contractor to deliver work up to
standard is found wanting, then the Ingraham
government, on behalf of the Bahamian tax-
payer, is duty bound to terminate the contract.
If this should happen it will then be for the
Christie administration to justify its steward-
ship.

Word-twisting Rigby goes even further in
an attempt to make the public believe that Mr
Ferguson is suggesting “that the school children
in Selina Point, Acklins are not worthy to enjoy
a school built at a cost of $3.1 million.”

Mr Rigby knows that this is not what Mr
Ferguson was saying or even suggesting.

Mr Ferguson — as do all of us — believes
that every child in this country is entitled to the
best education that this country can afford.
But spending $3.1 million to build a school for
37 children — at a cost equivalent to $80,000
per child — cannot be justified. To construct a
smaller building for such a small school popu-
lation would in no way diminish their stan-

dard of education, but, while giving them an .

adequate building, would make funds avail-
able for other children in schools where the
need is as great.

We are all aware that this is a small country
with limited resources. But many Bahamians,
with expectations that this nation cannot afford,
seem to think that a government on coming to
power suddenly comes into possession of the
proverbial pot of gold. Many politicians —
especially while in opposition — encourage
them in this belief.

These $80 million worth of contracts have to
be revised to make certain that taxpayers are
getting what they are paying for. We hope that
the PLP government bore this in mind and
were responsible in awarding them. If not then
the FNM must do what is in the best interest of
the Bahamian people.

And, Mr Rigby, Mr Ferguson has no
explaining to do. However, if something should
be found amiss, then the former government
might have to justify some of their hurried
decisions. It’s all a matter of accountability.
























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of Castro

EDITOR, The Tribune

Fidel Castro in Cuba is faith-
fully following today the course
of Russian Communism of the
last century. And like the Russia
of the past, Cuba enjoys wide-
spread international sympathy
and support despite the tyranny
it imposes on its own people. For

instance, the recent Bahamian’

administration seemed eager to
lend Cuba support; and most
tourists experience the country’s
warmth and hospitality without
ever perceiving the reality of
Cuban life. It takes a keen
observer to do this. \

Tony Mendoza, an Associate
Professor of Art at Ohio State
University, left Cuba with his
parents in 1960 and graduated

from both Harvard and Yale .

before moving into the arts. In
1997 he returned to Cuba as a
tourist and wrote “Cuba - Going
Back”. It is based on 200 inter-

views and is an accurate por- |

trayal of Cuban reality.

The economic. problem.
“While issues dealing with the
absence of the most basic free-
doms came up often in conver-
sations, the problem that con-
tinually grates on people is more
fundamental: it’s not possible to
eat two meals a day for one
month with the monthly salary
the state pays. There is food
available...but state employees,
who make up.a large majority
of Cuban workers don’t make
enough money to buy there.”

(All quotes are taken from

“Cuba — Going Back” by Tony
Mendoza, University of Texas
Press, 1999).

This situation is created by low
economic productivity and is
seen in the two currency system,
a system where the government
sells in U.S. dollars at its dollar
stores and in Cuban pesos at its
peso stores. In this system the
U.S. dollar is worth 22 Cuban
pesos,as of 1999. A member of
the Communist Party’s Central
Committee stated in an inter-
view with Frontline, India’s
National Magazine, that “edible
oil, fruits, coffee, fish, eggs and
other essentials are rationed.
These rations may be enough for
just 20 days in a month. Supplies
for the remaining 10 days have
to be bought in the free market.”
One should deduce from his
statement that the free market
prices were much higher.

According to a retired doctor,
“what you have to under-
stand...is that there is a very
repressive system...There are
75,000 plainclothes spies in the
streets, and we have the largest
army in Latin America. It costs
money to maintain a repressive
system like this. That is the main

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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 16th day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

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LETTERS

letters@tribunemedia.net

.Before tourism, money

priority..
was spent on sugar...actually bil-
lions of Soviet dollars in aid was
spent on sugar. And the sugar
industry is in shambles. And
before that, millions were spent
on cattle, and the cattle indus-
try is in shambles. Before that,
money was spent on coffee, and
nothing has worked. We now
produce less sugar, a lot less than
what was produced before the
revolution. We have fewer cattle
than we had in the fifties, and
now we have twice the popula-
tion.”

According to a mid-level gov-
ernment economist, “Fidel

ruined everything in 1968 when

he nationalized all the small busi-
nesses. Up to then, only the land
and the big enterprises, like the
sugar mills, had been national-
ized. But the bars, restaurants,
stores, repair shops, small busi-
nesses — all those were individ-
ually owned. You could find any-
thing, not as before, but you

_ could find any kind of food, and

have anything repaired. But Fidel
has a problem. He wants to con-
trol everything. So he national-
ized all the small businesses, even
the vendors who sold food by the
side of the road. When he did
that, he ruined Cuba. This place
has been a mess ever since.”
“The only possibility is for us
to produce more by allowing a
free market of goods and ser-
vices to function. Our problem is
simple. We are not producing
food because there are no incen-
tives to produce. Everyone gets
paid the same inadequate wage.
And Fidel won’t allow a real free
market. Historically, whenever
farmers in Cuba have been
allowed to sell their own pro-
duce, they’ve produced plenty
of food. But you can count on
Fidel to resist any attempts to
free the markets. Castro has
always exhibited an irrational
hatred toward market mecha-
nisms, entrepreneurs, capitalism,
small private business, you name
it. There are some free markets,
but they are overloaded with

restrictions to prevent them from :

thriving.”

Fidel Castro allowed two peri-
ods of economic liberalization,
one in the late 1970s and the oth-
er in the early 1990s. During both
periods production and private
enterprise grew significantly.

“But starting in 1982, Fidel
became disappointed in these
policies and started denouncing
the self-employed workers and
the farmers...He felt too much

capitalism was corrupting Cuban
socialism and what proved to be
the fatal sin, too many self-
employed workers and farmers
were making too. much mon-
ey... Hundreds of self-employed
workers were arrested for
becoming too rich, and the taxes
for independent workers were
doubled. But the Cuban entre-
preneurs persisted. In 1986 Fidel
put an end to it all when he
announced the Process of Recti-
fication of Errors [PR]....The
free farmers’ markets were elim-
inated, as well as self-employ-
ment” In the end “it was anoth- ~
er disaster. The purified socialist
economy was incapable of pro-
ducing the products and services
eliminated by the PR.”

In 1991 the Fourth Party Con-
gress again allowed self-employ-
ment with restrictions. “Under-
mining the whole idea of self-
employment is the law of May
1994 that states that any exces-
sive accumulation of riches is
illicit. Thus anyone making too
much money through self-
employment is breaking this law
and can be put in jail and have
their assets seized. ‘

Tyranny. Every Cuban is clear
about human abuses. “If you are -
vocal in your opposition to the
regime, you end up in jail. It’s
that simple” The Penal Code
prohibits disrespect, insult or
abuse to the dignity or honour of
the authorities, enemy propa-
ganda, resistance to authority
and any special proclivity to
commit crimes as demonstrated
by behaviour that manifestly
contradicts the norms of socialist
morals.

The Cuban peaale are .
watched by the Committees for
the Defense of the Revolution
located on every residential
block. The Singular System of
Vigilance and Protection watch-
es the streets and buses; govern-
ment labour unions watch the
workers, the Cumulative Dossier’ '
registers the academic record,
political tendencies and volun-
tary activities of students; the
Ministry of Interior watches and
infiltrates work and play, the
Police and Military Guard are
stationed throughout the coun-
try; and the Rapid Response
Brigades put down illegal actrvi-
ty without a military appeara: ce.

What does the future hold? ‘n
the short run no one expects .
popular uprising...“no one wants
to be a martyr and no one wants
to end up in a Cuban prison.”
In the longer run Cuban Marx-
ism will likely collapse as it did in
Russia.

THE NASSAU INSTITUTE
Nassau
May 15 2007

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THE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 5



BTC launches
trade show
and expo in
Freeport

FREEPORT - _ The
Bahamas Telecommunication
Company is launching a
major technology trade show
and expo in Freeport to
showcase the latest products
and services in the telecom-
munications and information
technology industry.

Leon Williams, president
and CEO of BTC,
announced that the Grand
Bahama Technology Trade
Show will be held from May
26 to 29 at the Westin Our
Lucaya Resort.

The trade show is expected
to attract about 400 delegates
from various leading interna-
tional telecommunication
dealers, such as Nortel, Cisco,
Lucent, Tremor Technolo-
gies, and others.

The event, which is being
hosted by BTC, the Ministry
of Tourism, and the Bahamas
Chamber of Commerce, will
officially open on Sunday at
5pm on great lawn at the
Westin Resort.

Mr Williams said: “We
must continue to seek new
and innovative ways to pro-
vide Bahamians with infor-
mation and make telecom-

munication products and ser-

vices readily available to
Bahamian people — the 2007
trade show and expo is our
gateway to those opportuni-
ties,” he said.

There will be 40 exhibits
by local and international
sponsors, and local and inter-
national seminar presenters.

Henry Romer, BTC vice
president of northern
Bahamas, said featured topics
for this year’s event will focus
on: new broadband and busi-
ness solutions that can help
and grow a business; e-com-
merce; the next generation
network (NGN); new tech-
nological innovation in the
hospitality industry and other
topics.

The event will also show-
case automotive Blue Tooth
technology with 2007 vehi-
cles that have been outfitted
with Blue Tooth devices.
BTC will also take the oppor-
tunity to showcase some of
its newest product offerings.

The trade show will begin
with a preview of the expo
hall on Saturday, May 26
from 12pm to 7pm.

Entertainment will be pro-
vided by Bahamian enter-
tainers such as Elon Moxey,
Therez Hepburn and KB,
and other entertainers.

There will also be prize
giveaways to session atten-
dees and participants.

Exuma resort
names
assistant
manager

i SHERVIN Penn

GRAND Caribbean
Resorts, operators of Exuma’s
exclusive Grand Isle Resort
and Spa, has announced the
appointment of Inagua native
Shervin Penn as assistant gen-
eral manager.

Penn’s promotion at the age
of 30 makes him one of high-
est-ranking — and youngest —
Bahamians in the hospitality
sector.

John Shkor, Grand
Caribbean Resort’s CEO and
president, said: ““As operations
manager, Shervin proved he
was dedicated, willing to pitch
in and do whatever it takes to
provide a satisfying experience
for our guests.”

Penn earned a degree in
marketing, worked briefly in
that field, felt drawn to the
hotel industry and spent sev-
en years at the busy British
Colonial Hilton in Nassau
before joining Grand Isle, an
upscale enclave of 78 “con-
dotel” units receiving the
highest guest satisfaction rat-
ing overall of any hotel in the
Bahamas, according to the
company.

@ By ALISON LOWE
Tribune Staff Reporter

A SENIOR environmental
risk official has expressed sur-
prise that none of the petroleum
companies located at Clifton
admit to knowing about the
nearby spill prior to Monday's
news reports.

Meanwhile, no update on the
source of the oil leak off Clifton
Pier has been issued by any gov-
ernment agency or private com-
pany.

Dwayne Curtis, chief public
analyst with the environmental
monitoring and risk assessment
division and member of the oil
spill committee said he is con-
cerned that the spill was not
brought to the attention of his
division — which is mandated to
investigate any significant oil
spill - until the aerial pho-
tographs of the large oil slick in

i front of the Bahamas Electrici-

ty Corporation compound were
published by The Tribune.

“What ideally happens is that
whenever there is a spill of any
significance, the information
would be referred to that com-
mittee and an investigation car-
ried out within that committee
and a committee report would
be generated. In this particular
case that hasn't happened,” he
said.

Mr Curtis said that the Port
Department should be the first
department to be notified, and
added that, according to news
reports, “this appears to have
been done.”

However, comments made by
port controller Capt Anthony
Allens on Monday indicated
this was not thanks to any par-
ticular Clifton based oil han-

Oil spill leads to concerns
over reporting procedure

Monitoring agency only learnt of slick through pictures published in The Tribune





where the slick is floating

dling company, but a concerned
member of the public.

BEC deputy general manager
Anthony Forbes said Monday
that the corporation had begun
an investigation into the source
of the spill, which was first
brought to the attention of The
Tribune last week. This fol-
lowed a statement noting that
the corporation was not neces-
sarily responsible.

Mr Curtis and Melanie
McKenzie, director of the
department of environmental

THE oil spill at Clifton Pier at South West Bay on Saturday.



health, said that they were await*
ing status reports from BEC.
"We're trying to get informa-
tion of what has transpired and
what is being done," he said.
In the meantime, the oil con-
tinues to spread out into the
ocean for miles along the West-
ern coast of New Providence, a
popular location for divers.
Mr Curtis said he thinks the

best interests of the environ-.

ment could be secured if there
was more co-operation between
petroleum-handling companies

The area to the t

(Photo: Franklyn G Ferguson)

at Clifton Pier, such as BEC,
Shell, Texaco and Chevron.
"There's a history of these
releases and we have our sus-
picions as to the source, though
I don't want to point a finger at
any particular entity," he stat-
ed. "But what we would like is
to get all of the agencies out
there to come together and to
recognise that this is a prob-
lem that is not necessarily

caused by one entity but by the »

whole Clifton pier conglomer-
ate and they need to get



together as a unit and address
these things."

Action has been delayed by
the fact that no agency appears
willing to take action until they
have been proved culpable.

The environment official said
that this approach needs to
change. "We need to find a way
to immediately respond to these
things rather than wait until an
investigation is carried out," he
said.

It has been noted by agencies
external to the Bahamas that .
much of the equipment and
expertise necessary for oil clean
ups is currently in the hands of
the oil corporations, rather than
the government.

One source has noted that
stricter legislation relating to
environmental hazards such as
oil spills, which would entail
fines, would be helpful in clean-
ing up the industry. While it is
currently possible for compa-
nies to be prosecuted under the
Environmental Health Act for
environmental contamination,
the source noted that this does
not happen as often as it
should.

With respect to the possibili-
ty that BEC could be responsi-
ble for the oil release, the
source noted: “You're dealing
with one government agency
taking action against, potential-
ly, another government agency
and I'm sure you can have some
idea of the implications of that.”

Attempts to contact BEC for
comment on the matter were
unsuccessful and calls were not
returned up to press time.

suffering dog

mg By ASHLEY THOMPSON

ANIMAL lovers are out-
raged at the Canine Control
Unit for leaving a severely
wounded three-legged dog
roaming the streets.

Despite several calls about

the animal — including detailed
information about the area it
frequents — Canine Control offi-
cers failed to do anything, mem-
bers of the public claim.

When contacted again yes-
terday, an officer said that a
team had visited the area, but

“was unable to find the dog.

However when informed the
dog was in the street at that very
moment, he said they could not
capture it then — because it was
raining.

“What. a preposterous
answer,” commented one mem-
ber of the public. “Imagine if
everyone refused to do their job
when the weather was less than
perfect.

“The worst part is that these
people seem to care nothing for
the dog or its suffering — yet
they are often the only ones ina
position to give these poor ani-
mals some sympathy.”

A week ago, the dog was seen
sitting on Dowdeswell Street
across from the Eastern
Esplanade. One of its hind legs
seemed to have been “ripped
off” according to a concerned
caller.

When first contacted, Canine
Control agreed to go and pick
up the dog, the caller said.

However, throughout the
week many several callers say
they noticed that the dog had
not been removed.

When The Tribune contact-
ed Canine Control for an expla-
nation, an officer acknowledged
that they had been notified —
not just by a caller, but also by
the Humane Society — on more
than one occasion over the past
few days.

"It (the dog) was never on
the scene when we arrived,"
claimed the officer.

He said the team had visited
the area:more than once since
receiving calls. However, at
least three other people say they
have seen the dog in the very
same spot several times in the
past week.

After being told yesterday

that the dog had just been seen,
again in same spot, the officer
was asked if Canine Control
would go and retrieve the ani-
mal.

The officer refused, claiming
that: "Because of the condition
in the weather we have no one
to really come out and do that.
It's really hard for us to try and
capture a dog in terms of run-
ning after it and even trv to go

out in the rain".

He also expressed concern
about officers being out in the
rain for the length of time it
would take to catch a ‘dog,
claiming that it could make the
officers ill and unable to come
into work the following day.

The Canine Control officer
then asked The Tribune to call
them back when it stopped rain-
ing to-remind them about the
dog.

In response to these state-
ments, a concerned member of
the public stated, "If I called an
ambulance because I needed
one, it would still come for me
regardless of the rain".

Another said: “They can’t be
serious, The Tribune must
remind them to do their job
because they’re scared to go out
in the rain?”

The dog, a small, black and
scrawny potcake, carries an
unhealed, bloody stump for one
of its back legs.

It is wearing a collar with a
broken lead attached and
spends much of its time in the
vacant lot opposite the Eastern
Esplanade on Dowdeswell
Street, callers said.

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WEDNESDAY,
MAY 23RD
6:30amCommunity Pg 1540AM

8:00 Bahamas @ Sunrise
9:00amOpening of Parliament
Pre-Show

Opening of Parliament










. 10:00
















1:00 ZNS News Update
1:05 Legends

2:00 One Cubed

2:30 Turning Point

3:00 Paul Lewis

3:30 Don Stewart

4:00 Video Gospel

4:30 Fast Forward

5:00 ZNS News Update
5:05 The Fun Farm

6:00 This Week In The Bahamas
6:30 News Night 13

7:00 The Bahamas Tonight
8:00 Opening of Parliament
11:00 News Night 13

11:30 The Bahamas Tonight




12m/n Late Night Movie:
“Scandalous Me: The
Jacqueline Susan Story”

1:30amCommunity Pg 1540AM

NOTE: ZNS-TV 13 reserves the

right to make last minute
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aliases =








When contacted about the
matter yesterday, the Humane








Society pledged to go and col-
lect the dog, despite this being



‘THE CONSTRUCTION TWO (2) TRANSFORMER |
FOUNDATIONS FOR THE NORTH FEEDER AT |

_ ROCK SOUND POWER STATION,

ELEUTHERA, BAHAMAS ~~

The Bahamas Electricity Corporation invites tenders from
‘eligible bidders for the construction of
two (2)}transforrner foundations at
Rock Sound Power Station in Eleuthera, Bahamas

Bidders are required to collect packages from
Mrs. Delmeta Seymour
at the Administration Office
Blue Hill and Tucker Road

OF

BEC Office
Rock Sound, Eleuthera

___ TENDER NO. 638/0
"TENDER FOR THE PROVISION OF

Tenders are to be hand delivered on or before ©
Wednesday, May 30th by 4pm
and addressed as follows:

The General Manager
Bahamas Electricity Corporation
P.O. Box N-7509
Nassau, Bahamas

Marked: Tender No. 638/07
“Construction of Two (2)
TRANSFORMER FOUNDATIONS FOR
THE NORTH FEEDER AT ROCK SOUND
POWER STATION,
ELEUTHERA, BAHAMAS”

For all inquires regarding this Tender,
contact Melpert Dean at 302-1413.

NOTE: ROCK SOUND POWER STATION |
SITE VISIT WILL BE ON FRIDAY,
MAY 25, 2007.

outside its normal areas of
responsibility.



































PAGE 6, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



Rock of Ages Funeral Chapel

Wulff Road & Pinedale
Tel: 323-3800 or 322-1431 ° Fax: 328-8852

FUNERAL SERVICE FOR

MR. ANTHONY
ELMORE"TOOKS" CARGILL, 60

of Nassau and formerly of Calabash Bay.
Andros, died on Saturday, May 12, 2007.






Funeral services will be held at 9:45 a.m.
on Thursday, May 24, 2007 at St. Cecilia's
Catholic Church, Coconut Grove, Nassau,
Bahamas. Officiating will be Father
Simeon Roberts, organist Mr. Edward
Burrows. Interment will follow in St.
Joseph's Cemetery, Tyler Street.









Left to cherish his memory are four sons,
Dr. Antoine Clarke, Anthony Cargill Jr.,
Marvin Cargill Sr., Angelo Cargill Sr.;
daughter, Lekisha Cargill-Burrows;, son-
in-law, Zhivago Burrows; 13 grandchildren, Angelo, Anthony,
Makisha, Alex, Anisha, Marvin, Myesha, Anwar, Adrian, Ayden
Cargill, Zhivago, Neketia and Catherine Burrows; brothers, Ambrose,
Tyrone, Gregory and Dr. Patrick Cargill; sister, Louise Ginger Cargill;
three sisters-in-law, Stephanie, Susan and Ruth Cargill; nine aunts,
Lucine Wilmot, Ulamea Edgecombe, Virginia Mortimer, Jennifer,
Judy and Carmeta Moxey, Velma, Doris and Madge Cargill, Wilbert
Edgecombe and Wendell Moxey; six uncles, Randolph-and Herbert
Minnis, Arnold and Alton Cargill, Wilbert Edgecombe and Wendell
Moxey; 10 nieces, Makeva, Teneekqua, Shantell, Santillia, Andrea,
Keisha, Melverne, Tercell and Tyneisha Cargill and Alexis Davis;
17 nephews, Sean, Tyson, Tremis, Tino, Tyno, TJ, Robin, Desmond,
Ricardo, Kareem, Hillary, Christian, Ondre, Julian, D'Angelo, Avery
and Avard Cargill; grandnieces and nephews, McKeo, Carmon and
Valneisha Cargill, Trenique Spence, Dominique Symonette, Sayid
Godfrey Cargill and Caitlyn and Carlin Bethel and Michael Thompson
Jr.


























Other relatives and friends including Mrs. Ethlyn Bowe, Joycelyn
Holbert and family, Janine Bodie and family, Vernetia Sweeting,
Mary Neymour, Adrianna Mackey, Maurice Arthur, Jermaine
Moultrie, i.amando Russell, Sheldon Saunders, Theodore Dorsette,
Deodano Collie, Mrs. Marcia Strachan and family, Mr. Livingston
Sweeting and family, Mr. Granville Adderley and family, Mr. Victor
Moxey and family, Donyia McPhee, Chenda Mackey, Claudia and
Tabitha McKinney, Mr. and Mrs. Steven Culmer and family, Mr.
and Mrs. James Cooper and family, Michelle Black and family, the
Ching family, the Scott family, Archie and family, Gillian Demeritte
and family, Mitchell Burrows and family, the Malcolm Allotment
Community, Vincent Rahming, Austin and Charles Minnis, Minez
Cargill, Benedict and Randall Dorsett, St. Cecilia's Lady's Auxiliary,
Miriam, Dennis, Cora and Niece Cargill, Playdell Humes, Donna
McQueen, Shawn Saunders, Marcian Mortimer, Sister Janice Coakley
and family, Patricia and Cheryl Minnis, Alphonso Smith, Elsa
’ Munnings, Roxanne Ferguson, Genesta Cooper, Joan Turnquest and
family, Dudley, Leander, Ivan and Larry Minnis, Leroy Lewis and
family, Arnold Bain, James Dean, Beverly Smith, Brian Fernander,
Mercena Stuart, the Lundy family, the Evans family, Arnold Bain,
James Dean, Tonya Adderley, Lionel Ferguson, Floyd Wilmot,
Ashley, Marcian, Ephram and Moses Cargill.

























Special thanks to the doctors and nurses of I.C.U. and Male Medical
I of The Princess Margaret Hospital, and all those we may have
failed to mention.







Friends may pay their last respects at Rock of Ages Funeral Chapel,
corner of Wulff Road and Pinedale, on Wednesday, May 23, 2007
from 10:00 a.m. to 6:00 p.m. and on Thursday, May 24, 2007 at St.
Cecilia's Catholic Church, Coconut Grove from 8:00 a.m. until service
time.






Public Utilities Commission

Desiree Cox to speak at
OB commencement

STUDENTS graduating from
the College of the Bahamas this
year and their guests are in fora
special treat as the keynote
speaker at their commencement
ceremony is multi-dimensional
Bahamian “Renaissance
Woman” Dr Desiree Cox.

Dr Cox is a creative talent
and innovative thinker who not
only qualified as a medical doc-
tor but is also a researcher into
the history of medicine, a social
entrepreneur, a professional
musician and singer, a published
writer and a visual artist.

Following an outstanding aca-
demic career at Queen’s Col-
lege, Dr Cox attended McGill
University in Canada and, after
graduating with a BSc (Hons),
she became the first Bahamian
and the first woman from the
British Caribbean to win a pres-
tigious Rhodes Scholarship to
attend one of the colleges at
Oxford University.

At Oxford she gained an MB
BS in medicine and then moved
to England’s other historic seat
of learning, the University of
Cambridge, where she spent
five years, first gaining an MPhil
in the history of medicine and
then a PhD in the same subject
area.
. During her time at England’s
most famous universities, this
academic luminary won the
Pembroke College Collection
Prize, a Commonwealth Schol-
arship for Clinical Medicine, the
Radcliffe Infirmary Prize for
Medicine and a Welcome Stu-
dentship for history of medi-

Doctor, musician, artist and the Bahamas’
first Rhodes scholar to address students

i DESIREE Cox

cine.
Dr Cox’s love of music began

as a child and included both:

voice and piano training and,
as a nine-year-old, she per-
formed a solo at the funeral of
the first Bahamian Governor
General, Sir Milo Butler.

Her vocal talents were recog-
nised while she was at Oxford
University and she became the
lead singer in the university’s
acclaimed Kodaly Choir.

She later joined the Royal
Choral Society in London and
then, when her studies and
research at Cambridge were
over, she formed her own jazz
ensemble and became a fixture
on the London jazz scene.



Since returning to the
Bahamas, Dr Cox has contin-
ued to extend her musical range
and has produced two CDs of
her original material entitled,
Awakenings and Forbidden
Love.

In the last five years she has
shown her versatility by mov-
ing into the realm of visual arts.
Intensive personalised individ-
ualised art training and men-
toring with Stan Burnside have
resulted in a number of recent
exhibitions of her distinctive
and striking paintings and also
some ventures into interdisci-
plinary experimentations

“ involving dance, music and

painting.

Dr Cox is currently a consul-
tant in human development and
urban renewal to the Prime
Minister of the Bahamas. This
programme has been recog-
nised internationally.

She is also an associate lec-
turer in ethics and humanities at
the University of the West
Indies Medical School (the
Bahamas).

She is well-known to Bahami-
ans through her weekly column
in The Nassau Guardian and is
the founder of the artist organ-
isation, Soul Imagination, and
the founder and CEO of Per-
forming Cures, an international
charity which combines a num-
ber of her considerable abilities
as it brings live music and dra-
matic performances to the pub-
lic spaces of hospitals and
health-care facilities.

“Honoured as one of 33 pio-
neering women nation-builders
in Bahamian history at the 33rd
Independence Celebrations in
July, 2006, Dr Cox is certain to
both challenge and entertain

her audience at the college’s |

commencement ceremony on
May 31 and the graduation
committee is extremely pleased
to have engaged such a high-

profile, vibrant Bahamian for |

the occasion,” said the college in
a statement.

Bahamian nursing legend to be the

keynote speaker at pinning ceremony

THE College of the Bahamas
has managed to secure as
keynote speaker for its Nurses
Pinning Ceremony on May 23
an extraordinary Bahamian

member of the nursing profes- .

sion, whose many contributions

STATEMENT OF RESULTS

Price Regulation of Voice over Internet Protocol (VoIP) provided by The

Bahamas Telecommunications Company (BTC)

branded as ViBe

The Commission has concluded its public consultation on “Price Regula-
tion of Voice over Internet Protocol (VoIP) provided by The Bahamas Tele-
communications Company branded as ViBe.” The Statement of Results
as at captioned summarizes, and responds to the substantive issues
raised by respondents to the Public Consultation Document.

The Statement of Results affirms the Commission’s position that The
Bahamas Telecommunications Company’s (BTC’s) VoIP service is:

(i) a ‘telecommunications service’ as defined in Section 2 of the 1999

Telecommunications Act;

(ii) “Voice Telephony” within the meaning of Condition 1.1 of the Interim
Licence issued to BTC dated September 4, 2002;

(iii) functionally and commercially substitutable’ for conventional switched

voice telephony services; and

(iv) is price regulated under Condition 15 and Schedule 1 of the Interim

Licence.

Because ViBe is beneficial to customers and the national economy, the
Commission will modify Schedule 1 of the Interim Licence to record its
approval of the various ViBe pricing schemes. All other Conditions in and
amendments to the Interim Licence remain in full force and effect.

Copies of the Statement of Results and all responses to the Public Con-
sultation Document may be obtained from the Commission’s office, Fourth
Terrace East, Nassau or by downloading the documents from the
Commission’s website at www.pucbahamas.gov.bs. -

BARRETT A. RUSSELL

Executive Director, Public Utilities Commission

4th Terrace East, Collins Avenue
Facsimile: (242) 323-7288
E-mail: PUC@pucbahamas.gov.bs



to the development of nursing
in the Bahamas and nursing
standards have been recognised
at home an abroad.

Mary Johnson, a native of
Fox Hill, Nassau and third
daughter of the late John and
Lillian Johnson, was educated
at the Sandilands Primary
School and the Government

High School. She is a state reg- .

istered nurse, a midwife, holds a
BSc in nursing and an MA in
rehabilitation and counselling.

In 1960, at the age of 17, she
began‘nurse training at the
Princess Margaret Hospital and
in 1963 was the first nurse to
complete the previously four
year General Nursing Pro-
gramme in three years.

She was one of the first two
Bahamian nurses to be
deployed as clinical teachers at
the Princess Margaret Hospital

in 1968, and the first Bahamian
female nurse to obtain post
basic certification in Psychiatric
Nursing in 1969.

She was subsequently granted
a PAHO fellowship to complete
the Advanced Nursing Educa-
tion Certificate Programme at
the University of the West
Indies in 1972.

This training equipped her to
become the first Bahamian psy-
chiatric nurse tutor, enabling
her to have a major impact on
the development of psychiatric
nursing in the Bahamas.

Ms Johnson served as nurse
educator in the Bahamas School
of Nursing for 12 years and then
as a part-time lecturer when the
programme was transferred to
the College of the Bahamas in
1983.

In 1973/4 she chaired the
committee to develop and later

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co-ordinate the Post Basic Psy-
chiatric Nursing Programme for
Trained Clinical Nurses and the
programme for registered nurs-
es which commenced in 1983.
From 1989 to 1994, she served

as principal nursing officer at '

Sandilands Rehabilitation Cen-
tre where June 25, 1992 was des-
ignated as “Mary Johnson Day”
in appreciation of her outstand-
ing contribution to geriatric
nursing care at the centre.

Ms Johnson was appointed
director of nursing in 1994.
Notable developments in nurs-
ing and nursing education dur-
ing her tenure include: the
establishment of the Nursing
Cadet Programme in 1996, the
establishment of the. Nursing
Research Unit in 1999 and
introduction of the Nursing Pre-
ceptor-shi Programme.
November 2001 saw the launch
of the “Future Nurses of the
Bahamas” programme, target-
ing students in grades five to
nine.

As director of nursing, Ms
Johnson uses every opportunity
to encourage and empower nurs-
es to always strive for excellence
in all aspects of their practice and
to think “outside of the box”.

She was instrumental in the
formation of the Nursing Task
Force which was launched
together with the Coalition for
Change and the 100-Day chal-
lenge in 2003.

Ms Johnson’s contributions
also include: registrar of the
Nursing Council of the

Bahamas (1977-1979), member ;

of the Education and Examina-
tions Committees of the Nurs-
ing Council for many years and
director of the Bahamas Coun-
cil for the Handicapped.

She has: participated in
numerous training programmes
for nurses, focusing on the psy-
chiatric nursing component in
all of the basic and post-basic
programmes and the psycho-
logical aspects of caring for per-
sons suffering from HIV/AIDS.

Ms Johnson has received
numerous awards and recogni-
tions including being honoured
by the Ministry of Health in
1997 for 35 years of dedicated
service, and being named a
Health Hero by PAHO and
Ministry of Health in 1998

Ms Johnson also serves as a
board member of the C W
Saunders Baptist High School
and is an active member of her
community.

At the Macedonia Baptist
Church in Fox Hill, she serves
in many capacities including,
organist, Sunday school teacher,
choir member and Church
Council member.

She enjoys singing, playing
the piano, organ, trombone and
hand bells as well as reading,
walking and travelling. Ms
Johnson is also the proud moth-
er of one son, Jason.

j



THE TRIBUNE

LOCAL NEWS

WEDNESDAY, MAY 23, 2007, PAGE 7



© [n brief

Study: climate
change may
threaten wild
food crops

@ ROME

CLIMATE change could dri-
ve many wild relatives of plants
such as the potato and the
peanut into extinction, threat-
ening a valuable source of genes
necessary to help these food
crops fight pests and drought,
an international research group
said Tuesday, according to
AssociatedPress.

Over the next 50 years, more
than 60 per cent of 51 wild
peanut species analysed and 12
per cent of 108 wild potato
species analysed could become
extinct because of climate
change, according to a study by
the Consultative Group on
International Agricultural
Research.

Surviving species would be
confined to much smaller areas,
further eroding their capacity
to survive, the study said.

The study looked at the dis-
tribution of various species and
predicted their ability to sur-
vive based on current and pro-
jected climate data for 2055.

Farmers and researchers
often depend on wild plants to
breed new varieties of crops
that contain genes for traits such
as pest resistance or drought
tolerance, and that reliance is
expected to increase as climate
changes strain the ability of
crops to continue to have the
same yields as now, the group
said in a statement.

In recent years, genes found
in wild relatives have helped
develop new types of domesti-
cated potatoes that can fight
devastating potato blight and
new varieties of wheat more
likely to survive droughts, the
statement said.

“There is an urgent need to
collect and store the seeds of
wild relatives in crop diversity
collections before they disap-
pear,” said Andy Jarvis, an agri-
cultural geographer who led the
study. “At the moment, exist-

ing collections are conserving’

only a fraction of the diversity
of wild species that are out
there.”

Jarvis said further research is
needed to identify which wild
relatives are more vulnerable
to climate change.

Plant species like the peanut
are more endangered by global
warming as they grow largely
in flat areas and would have to
migrate over huge distances to
find cooler climates, while
plants that live on mountain
slopes may only need to gain a
little altitude to find more favor-
able weather, he said.

The study, focusing on plants
in Africa and South America,
was put out by a Rome-based
biodiversity group, one of 15
agricultural research centers
worldwide supported by the
Consultative Group.

The international organisa-
tion is an informal association of
64 countries, public and private
groups co-sponsored by the
World Bank and the UN Food
and Agriculture Organization.
It works toward sustainable
food security and researches
ways to cut poverty in develop-
ing countries through scientific
research.

Potentially
dangerous
toothpaste is
removed

® DOMINICAN REPUBLIC
Santo Domingo

_ MORE than 10,000 tubes of
Chinese-made toothpaste have
been removed from stores
because they contain a poten-
tially deadly chemical, according
tp Associated Press.

Hundreds of health workers
have been searching for brands
“Excel” and “Mr. Cool” since
Dominican authorities learned
Friday that they are tainted by
the chemical diethylene glycol,
environmental health director
Luis Felix Roa said Monday.

The shipments arrived from
Panama, where last year medi-
cines contaminated by diethylene
glycol killed at least 51 people.

Panama also removed the
toothpastes from stores last
week, but said the chemical lev-
els do not appear to be danger-
ous. Still, officials in both coun-
tries have advised consumers
not to use the product.

The tubes were seized from
supermarkets and corner stores
in the capital of Santo Domin-
go, as well as the provinces of
Jimani, Elias Pina, Barahona,
Azua and Samana.



75 per cent chance of above

normal hurricane activity



@ THIS NOAA satellite image taken Wednesday, May 9

shows clouds off the Southeastern coast associated with

subtropical storm Andrea

(Photo: AP/Weather Underground)

US meteorologists make
predictions for season —

@ WASHINGTON

US government forecasters
predicted a busier than nor-
mal hurricane season yester-
dayday, according to Associ-
ated Press.

National Weather Service
forecasters said they expect
13 to 17 tropical storms, with
seven to 10 of them becom-
ing hurricanes.

The forecast follows that of
two other leading storm
experts in anticipating a busy
season.

The likelihood of above
normal hurricane activity is
75 per cent, the National
Oceanic and Atmospheric
Administration said.

“With expectations for an

"active season, it is critically

important that people who
live in East and Gulf coastal
areas as well as the Caribbean
be prepared,” said Bill Proen-
za director of the national hur-
ricane centre in Miami.

After the battering by
storms Katrina and Rita in
2005 there were widespread
fears last summer of another
powerful storm striking, but
the unexpected development
of the El Nino climate phe-
nomenon helped dampen con-
ditions.

The El Nino has ended,
however, leaving the potential
for more tropical storms threat-
ening the Gulf and East coasts.

El Nino is a warming of the
tropical Pacific Ocean that
occurs every few years. The
warm water affects wind pat-
terns that guide weather
movement and its effects can
be seen worldwide. In El Nino
years, there tend to be fewer
summer hurricanes in the
Atlantic Ocean.

Earlier this month Philip
Klotzbach, a research associ-

ate at Colorado State Univer-.

sity, and Joe Bastardi, the

‘chief hurricane forecaster for

AccuWeather, said they antic-
ipate a more active storm
cycle this year.

And, almost as if to under-
score their comments, a sub-
tropical storm formed off the
southeast coast and became
Andrea, the first named storm
of the year, well before the
June | official beginning of
hurricane season. ae

Hurricane season ends
November 30, but the strange
season of 2005 ran over into
late December, as well as
using up all the planned
alphabetical names, forcing
storm watchers to switch to
the Greek alphabet to contin-





@ DIRECTOR of the National Hurricane Center Bill
Proenza speaks during the Florida Governor’s Hurricane
Conference in Fort Lauderdale on May 16, 2007

(Photo: AP/Lynne Sladky)

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@ ONE of many surfers at Juno Beach, Florida on May 9 taking advantage of the unusually high



waves coming ashore as Subtropical Storm Andrea brewed in the Atlantic Ocean

ue naming storms.

Last year, there were just 10
named storms in the Atlantic
and none made landfall in the
United States.

Klotzbach and his colleague
at Colorado State University,
William Gray, predict a “very
active” season this year with 17
named storms, including nine
hurricanes.

Bastardi called for fewer
storms but agreed 2007 would
be more active than usual. He
expects 13 or 14 named storms,
six or seven of which will strike
the US coast.

Bastardi said the Texas Gulf
coast is twice as likely to be hit
as in an average year and Flori-
da appears four times as likely.

Katrina easily became the
costliest hurricane in US histo-
ry with damage estimated by
the National Hurricane Center
at more than $80 billion.
Indeed, of the 30 costliest hur-
ricanes US history, four
occurred in 2005.



@ SENIOR hurricane specialist Dr Rick Knabb monitors the

(Photo: AP/Pat Carter)




development of Subtropical Storm Andrea at the National
Hurricane Center in Miami on May 9

And with a death toll topping
1,500 Katrina is also the third
deadliest in US history, foliow-
ing the 1900 hurricane that hit

_ (Photo: AP/Lynne Sladky)

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to 12,000 people and a 1928
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PAGE 8, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



RT hn. i ae
The further re of Nassau

Fee ALMOST 20 years
private sector leaders
have been seeking to persuade
successive governments to
sanction, if not lead, the revi-
talisation of downtown Nassau.
‘And for almost 20 years the
city has steadily decomposed
into a filthy, traffic-choked slum,
overrun with hucksters and
dope peddlers, offering little of
interest even to those notori-
ously cheap cruise visitors.

In fact, cruise tourism to Nas-
sau was down almost 12 per
cent last year, compared toa2
per cent drop in air arrivals —
an indication that the seaport
ig even more of a disincentive
than the airport.

And it certainly begs the
question of how the Ministry of
Tourism can talk incessantly
about “improving our product”
to-attract more business while
the capital city (and main desti-
nation) remains a big, suppu-
rating mess with no attractions.

' As those of us over 40 can

recall, it wasn’t always so. Back

- then Bay Street was a big tourist

draw, as this account by archi-
tect Pat Rahming recalls:

. “Within the city, the peculiar
architecture, arranged along
narrow, shaded streets created a
stale, texture and display of
ctaftsmanship that made the
experience of Nassau unique.
Nightclubs, some of them open
to the sky, shared Bahamian
music, dance and entertain-
ment. Straw vendors made the
craft of the Bahamas available

to visitors. By being a city of
strong attractions, the city itself
was an attraction. But that was

; yesteryear.”

‘We could add that the colour-
ful history of the town made it
an omnibus attraction — from

» Columbus to piracy to the
American Revolution to the US

Civil War to African culture to -

. bootlegging to small-time colo-

“nial pomp to an independent
‘multiracial democracy. What
‘more could you ask?

B ut today, history is
overlooked, and many
‘of the best examples of Bahami-
an architecture have either been

déstroyed or are deliberately
left derelict. Bahamian restau-

rants have been replaced by fast
food outlets, nightclubs and
shows are a distant memory,
our culture has been reduced
to a weekly rush-out at the
Marina Village on PI, and his-
toric ditstricts are threatened
by thoughtless development.
The demolished mid-19th
century Royal Victoria Hotel
and its once-stunning tropical
gardens are now just a series of
government parking lots.
Derelict buildings are scattered
throughout the town — both on



For almost 20
years the city has
steadily decomposed
into a filthy,
traffic-choked slum,
overrun with
hucksters and dope
peddlers, offering
little of interest

‘even to those
‘notoriously cheap

cruise visitors.
EEG Ss ee

and off the main streets. And
the central marketplace is just a
big hole in the ground.

So the question is, why pay
to visit Nassau? The answer is:
Paradise Island. And since Nas-
sau benefits parasitically from
Sol Kerzner’s Atlantis Resort
with its clean, safe environment
and well-run attractions and
entertainment, why don’t we
just cut our losses and shut Bay
Street down in its present form?

Well, you will be interested
to know that plans have been
in the works for years to do just
that

QC) the decades the
government has hired

droves of foreign consultants at
great expense to advise us on
this point. And they have all
concluded that the best solution
is to move the seat of govern-
ment to the remote. southwest
tip of the island.

This plan has several advan-
tages. First, it would eliminate
all those blue-plated limousines
and accompanying outriders

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1. Register early for these rare development
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from our congested city limits.
Second, it would re-route the
police buses that scream
through rush-hour traffic twice
a day taking prisoners from Fox
Hill to downtown courts for the
further adjournment of their
cases. And third it would reduce
the number of lawyers swag-
gering around town trying to
evade their clients.

We could then complete the
far-sighted conversion of the
city into a freight terminal,
which would enable us to
import more stuff more prof-
itably — stuff that will later be
transported to help fil] the
dump in the centre of the island,
not to mention the holes where
our hills used to be. Sidewalks
will be removed to allow big-
ger, more emission-producing
trucks to navigate our narrow
streets during daytime hours.

Our architects, engineers and
contractors could then be enlist-
ed to renew the city by razing
those old buildings that are sim-
ply cluttering up the landscape
to erect modern and efficient
freight offices and paved con-
tainer lots. The 19th century par-
liament buildings would become
the headquarters of the Port
Department. And special bus
tours could be arranged to show
tourists how we offload cargo.

Meese parlia-
ment, the cabinet

office, the courts and govern-
ment ministries would find a
pleasant new home at Clifton,
with easy access to a national
park where our politicos and
lawyers could get back to nature
and reflect on our thousand-year
history. Traffic would naturally
flow from the heavily populated
northern districts out to Clifton,
reducing congestion in the port
area and making it easier for
shippers to get to their jobs.
Serious questions have been
raised about the cost of convert-



ing Nassau to a full-fledged
freight port. Some say it could
raise the cost of living — but oth-
ers point to the benefits. For
example, all of our politicians
would be isolated at Clifton while
the more productive sectors of
society get on with the business
of importing more goods.

And by leveling Bay Street,
we could recover the space to
build a modern port facility that
everyone could be proud off.
Retailers would move to new
malls in the centre of the island
— stripping the useless pine
forests. And a new bridge
would be built from the Prince
George Wharf to divert cruise
visitors to Paradise Island. It’s
the perfect solution for all of
our development problems.

sis ofs ae a ois 2k 2 2 ok

TL picture is not as far-
fetched as it seems.

Modern efforts to plan the
development of Nassau date
back at least to 1971, when an
earlier generation of foreign
consultants recommended the
familiar formulas — a pedestri-
an-only Bay Street, preserva-
tion of the city’s architectural
character, and designation of
historic landmarks like the Roy-
al Vic and the Public Market
(both of which have since been
destroyed).

That was also the first time
we considered moving the cargo
port from Nassau harbour. In
1995, an earlier Ingraham
administration acknowledged
this priority: “In principle the
government would like the pri-
vate sector to use a substantial
part of Arawak Cay for a ship
facility,” the prime minister said
at the time.

The rationale was that by
doing so, shipping-related activ-
ity would be decreased on Bay
Street, making high-priced
waterfront property available

for tourist development.

Arawak Cay is a 95-acre
island created when the harbour
was dredged in 1966 to expand
cruiseship access. It remained
vacant until 1972 when the gov-
ernment built a freight ware-
house which operated as head-
quarters for the Customs
Department until the early
1980s. By then, lack of mainte-
nance led to staff walkouts and
the facility closed soon after. It
remains a garbage-strewn ruin
today, presenting hundreds of
thousands of cruise visitors with
a preview of what they can
expect from their Nassau
stopover.

Meese the con-
tainer ports have

been allowed to expand along
the eastern half of Bay Street,
destroying other commerce in
the process. Multitudes of heavy
trucks spewing noxious fumes
are the feature attraction.
There have been several pro-
posals over the years to move
the freight port to Arawak Cay.
According to Neil Sealey, author



The broad private
and public sector
consensus is that
little can be
done with the
redevelopment of
Nassau unless the
freight facilities are
removed from the
equation.



of text books on tourism and the
environment, "the port for car-
go has no justification for
remaining downtown and cer-
tainly not for expanding there.
Every aspect of this activity is
in direct conflict with the most
economic use of what is some
of the most valuable real estate
in the Caribbean region.”

But Arawak Cay is not the
only proposed site for a new
cargo port. Others have includ-
ed Clifton Cay (now a national
park), Bonefish Pond (a wet-
land east of Adelaide), Coral

Harbour and the current
favourite — the area at Clifton
sandwiched between the BEC
power plant and Common-
wealth Brewery. All have tech-
nical and environmental issues
as well as financial risks. A
decade ago the Inter-American
Development Bank put a price
tag of $200 million on a move to
Clifton, and the cost will be
even greater today.

As one recalcitrant shipper
we spoke to said: “Where is the
money coming from to do this?
Moving from a free natural har-
bour to a costly man-made port
would produce a huge rise in
cost of living. And a port in the
southwest would be unusable at
least 10 per cent of the year due
to weather. Moving freight to
Marathon area warehouses
would increase traffic conges-
tion. And if a railway was built
that would only add to the cost.”

S: the Dutch port con-
sulting firm, Ecorys, was
recently contracted at a cost of
$350,000 (split between the pub-
lic and private sectors) to con-
duct another feasibility study
on moving the container port
to Clifton. Their report is °
expected in June.

But the broad private and
public sector consensus is that
little can be done with the rede-
velopment of Nassau unless the
freight facilities are removed
from the equation. It has tak-
en almost two decades of lob-
bying, studying, whining, con-
sulting and pleading to arrive
at this point.

What’s the alternative? The
most realistic picture is pre-
sented in the first part of this
column. As Pat Rahming told
Tough Call:

“If it weren’t so real, it would
be funny...the need for thought

-about both the function and

meaning of the downtown can’t
be overemphasized. That is
where the lagacy of the nation is
recorded. We can’t continue to
find excuses, and simply shake
our heads. It is both cultural
and economic suicide.”

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



THE COLLEGE OF THE BAHAMAS
eRe a eee ee Mc

Industry Training Department is pleased to announce



Thursday, May 17
Plated Desserts

CHMI Main Kitchen
Professionals

Max. 24

Fees: $100.00 (Student)
$ 175.00 (BHA)

$200.00 (General Public)

Friday, May 18
Specialty Cakes
CHMI Main Kitchen
Professionals
Max. 24

Fees: $100.00T
$200.00 (BHA)
$225.00 (General)

student)

Monday, May 21

Basic Cake Decoration
CHMI Main Kitchen
General Public

Max. 24

Fees: $100.00 (Student)
$185.00 (BHA)

$210.00 (General Public)

Thursday, May 24
Marzipan

CHMI Main Kitchen
Students

Max. 60

Fees: $100.00 (Student)
$250.00 (BHA)

$275.00 (General Public}

Friday, May 25
Advanced Petit Fours
CHMI Main Kitchen
Students

Max. 60

Fees: $100.00 (Student)
$225.00 (BHA)

$250.00 (General Public)



NASSAU, NEW PROVIDENCE

Tuesday, May 22

Max. 24

$225.00 (BHA)

Wednesday, May 23
Plated Desserts
Best Westin Hotel

Public
Max. 24

$175.00 (BHA)

more sessions.

Session Details

pastry tools





GEORGETOWN, EXUMA
Advanced Petit Fours

Four Seasons Sugar Kitchen
Professionals & General Public
Fees: $100.00 (Student)
$250.00 (General Public]

FREEPORT, GRAND BAHAMA

Students, Professionals & General

Fees: $100.00 (Student)
$200.00 (General Public]

10% discount will be granted to
persons who register for three or |

e Materials will be provided
e Participants are to bring small

e Continuing Education Units will
be granted for all sessions.
CEU's accepted by the American
Culinary Federation

Professional Pastry Workshop Series
Featuring Certified Master Pastry Chef Bo Friberg of California

May 16-25, 2007

All sessions 8:30 a.m.







CHEF BO FRIBERG is a certified
Master Pastry Chef with over 40
years of professional experience

in the industry and has taught
baking and pastry courses to all
levels of students - from beginners
to seasoned professionals - since
1978. Chef Bo [as his students call
him] currently holds the position

| of Department Chair of the Baking
|) and Pastry Programme at the
Professional Culinary Institute in
Campbell, California. He graduated
.| from the Confectionery Association
4 School of Sweden and holds a

4 degree as a Master Confectioner.

§ He has worked in both small shops
j and large retail and wholesale

“A operations in the United States |

FT RE RT NT

and Europe, and was Pastry Chef
for Swedish American Lines
Cruise Ships. In addition, he has
demonstrated his pastry artistry

| on television shows Including

the two highly acclaimed public
television series Cooking Secrets
of the CIA, and Cooking at The
Academy, as well as NBC's Today
Show and the locally produced

| Bay Cafe. Chef Bo's celebrated

| cookbook The Professional Pastry
Chef, has now been revised to its
Fourth Edition, with the expanded
material divided into a two-volume
set, Fundamentals of Baking

| and Pastry and The Advanced

| Professional Pastry Chef.

eis




12:30 9.



Stole itl eat-in Com Cl

and to reserve your space

contact

Monique Butler, CHMI
BlReY ely Wey seed Yet LI





THE TRIBUNE WEDNESDAY, MAY 23, 2007, PAGE 9





UNDER THE STARS
FESTIVAL 2007

GALA CONCERT

Saturday - June 16 - 2007 - 7:00 P.M.
The College of The Bahamas 4
‘| Band Shell - Poinciana Drive - Oakes Field










and The 30-Member



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7: 00 p.m.| Duke Ellington School of the Arts/=
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Includes Gala Concert & Hors d’Oeuvres | Please cal!

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Denne CORN Memst te neta Monte



hice



PAGE 10, WEDNESDAY, MAY 23, 2007

Fk $80m Forces prepare for the

opening of the House.































was Clear frord Mr] reuson’s
criticism of 4$3.1 thillion cén-
tract for thé: building ofa
school in *Acklins: that the
“no pain” in

victimising the people. whé live

there by not 4 owmg that con-
tract to go, through 2
“Now, it. ae ‘lear frat.

aithealty in patios the
people of Aciiits by refusing

standard aia

exists in Nas
How dare-

having: “ge r
the bounda: iés

boundari
refused to












ee Hits
» He said altho

‘defends

ntracts signed —

. Bahamians and have just as
- Much right to a new school as

any other Bahamian. This is
representative of the mean-
spirited nature of the FNM.
The PLP will not stand and
allow the FNM to victimise
the students of Acklins.

“It is also obvious that Mr
Ferguson does not understand

_that a government has a right

to issue contracts and that a
new administration does not
have a legal right to either sus-
pend or terminate the con-
tracts simply because they
were awarded by the previous

‘administration. This is wrong
; ‘-and it is a dangerous prece-
dent that is being set by this

government. Mr Ferguson has
a duty to explain to the public
why he has access to the files

of the Ministry of Works.
“He has to explain why he

son mocks PLP |
sion on seats

~ over (and) declared the FNM

the winner.
“T believe he was right when

he did it then and believe he
- will right when it is over in the
-courts,” he said.

Senior PLP strategist Valen-
tine Grimes told The Tribune
on Monday that his party may

be contesting the constituen-
ucies of Pinewood, Blue Hills.

‘Golden Isles, Sea Breeze and
Marco City.
These constituencies are

. represented by two Cabinet

Ministers — Carl Bethel and
Sidney Collie — and three Min-

.-isters of State — Zhivargo

Laing, Charles Maynard and
Bryan Woodside.

Mr Grimes said his party’s
legal team for the election
court will be headed by PLP
MP for Cat Island and San

has access to information that
has not been put in the public
domain by the Minister of
Works or a minister of the
government; and certainly he
must explain why a party offi-
cial of the FNM would be
privy to official records of the
government.

“Ministers recently took an
oath of office. Has the Minis-
ter of Works forgotten that
oath already? This is a serious
matter and one that may well
require further investigation,”
he said.

Mr Rigby added that if Mr
Ferguson had proof of any-
thing illegal or improper about
the contracts awarded by the
former PLP government, he
has a right to make that infor-
mation public.

Otherwise, “he should mind
his business”, he said.

Salvador, Philip “Brave”
Davis, and is expected to
include Bahamas Bar presi-
dent Wayne Munroe, Neville
Adderley and Gregory Moss.

FNM vice-chairman Mr
Ferguson said that his party
has not yet selected its legal
representation because it has
more pressing matters to
attend to, namely “pulling the
country back together.”

“The FNM at this time has
made no plans for election
court, if it becomes necessary
we will, but today we are not
looking in that direction at all,
we are trying to pull the coun-
try back together.

“It (the country) was left in
shambles and the Bahamian
people will get the facts as
they become available,” he
said.



THE TRIBUNE

Mf The police honor guard ainetice for the opening of the Senate and the House
(Photo:Felipé Major/Tribune staff)

Engineer denies BOOuIE
problem is significant _

same kind of physical charac- -

FROM page one

most recently, not returned Tri-
bune phone calls or, according
to reports, other media houses’
written questions relating to
flooding.

This comes as members of
the public have responded to
the recent stormy weather, indi-
cating that they are fed up with
the state of the roads and want
action to be taken.

Motorists questioned at the
roadside yésterday, said that
heavy rainfall often created
major problems for drivers and
pedestrians.

Michelle Deleveaux, 32, of
Cable Beach said: “I’m disgust-
ed by the flooding, | think it’s
high time the government gets
its act together. This is the third
term in office forthe FNM and
they should make this a priority.
Too many people are suffering,

‘ cars are hitting unseen potholes,

houses are being affected by this
— it’s ridiculous.”

Meanwhile, George Cox, said
that the government either does
not listen to the public’s con-
cerns about flooding, or does
not care.

. “It’s a serious problem. They
need to unclog the drains, they
need to do something — change
the drainage system, do some
more engineering on it so the
water actually goes to the drains,
or something!” added Frederick
Coakley, from Fox Hill.

A mother from Pinewood
complained that her children
often have to wait until they are
on the school bus before they

put their shoes and socks on
because flooding can be so deep
in the area after heavy rainfall.

“Since the time I was living
there, which is 1990, nothing’s
been done,” she complained.

According to Mr Barrett, in
some cases, drains were put in
place when there was less devel-
opment in the area.

“One has to realise that with-
in a time when a development
goes in you cater for certain run
off, and then as more develop-
ment takes place you’d have
more run off,” he explained.

This means that whereas pri-
or to more buildings going up
water would be absorbed into
the ground, or into the avail-
able drains,

conéreted: o



less open ground or drainage is
available to absorb it.

Mr Barrett said that when the oa

tide is high, the capacity of some
drains is affected, as they are in
certain cases connected to the
ocean.

These are several of the ways,
combined with often intense
rainfall, in which the circum-
stances in New Providence
make it such that collecting
water cannot be avoided, he
suggested.

Asked why other countries
with a lot of rainfall, such as
England, have the capacity to
cope with rain to the extent that
flooding on streets is largely

» avoided, Mr Barrett suggested

that if a country does not have
such a problem it is to do with it
not “necessarily having the

sithe ground is _“of what is ‘heavy’.
‘more run offis. ..~

‘created, while at the same time —

r*e%e



teristics and drainage system”
as New Providence.

“What is it you’re comparing®.
is it oranges and apples, or’

apples and apples?” asked Mr "

Barrett.
He claimed that,.as he ere
stood it, England has lighter but

more regular rainfall rather

than the short bursts of intense
rainfall the Bahamas often

experiences, perhaps easing the,

1
i)

‘
,

burden on that country’s drains. '
When asked whether it would .
not be impossible for the ,

Bahamas to develop a system

that could cope with its heavy |:
rainfall, Mr Barrett responded.

“We come back to the subject

299

“One has to expect a certain,

if rain comes, a certain incon- ,

venience within a period of

i
4
'
|

time. There’s a certain what you *~

might call ‘tolerable’ period of
time,” he stated.

1

According to the engineer, «

he personally inspected several.

areas during storms last week ,

and found flooding to have
occurred, but was subsequently

satisfied that it had “subsided .
down within a reasonable peri- :

od of time.”
Queried as to whether twen-
ty-fours hours was not too long
for flooding to remain, Mr Bar-

rett said that it depends where |

the flooding has occurred.

The Tribune was informed
that Director Melanie Roach is
out of office until Thursday.

Attempts to contact Works

4

Minister Earl Deveaux, were.“

also unsuccessful yesterday.

NOTICE

There will be an urgent
membership meeting with the
Field Director for all

registered members and followers of
FAITH TEMPLE MINISTRIES
INTERNATIONAL

on

Thursday, May 24, 2007

at 7:30pm

at the Family Life Centre,
Prince Charles Drive





THE TRIBUNE

5s

Ao

WEDNESDAY, MAY 23, 2007, PAGE 11%:









New dolphins at Atlantis named
memory of Katrina and Butc

in

IT’S official - ‘Missi’ and
‘Runner’ are the names of the
newest members of Dolphin
Cay, the new dolphin interac-
tion and education centre at
Atlantis on Paradise Island.

Born in April, 2007, the dol-
phin calves are the first off-
spring from the famed rescued
“Katrina Dolphins”.

Missi and Runner were born
to 32-year-old Kelly and 21-
year-old Michelle. Both parents
and kids are acclimatising well
at their new home at Dolphin
Cay, their handlers say.

The names of the dolphin
calves are significant to Atlantis.
‘Runner’ represents a passion
of the late Howard ‘Butch’

Kerzner, former chief executive
officer of Kerzner International

= KELLY with her calf Runner

First calves at Dolphin Cay doing well, report staff

MISSI swims with her mother Michelle

& MISSI and Runner with Kelly

ot
thoy

(Photo: Tim Aylen)"’

Jour

nae

inet



suite



n



who loved running.

As a symbol of this, a spe-
cially designed pin featuring a
pair of running shoes was pre-

sented to persons attending a

special memorial in his honour
last year.

“We felt the name Runner to
be symbolic of Butch’s love for
running and his passion for
life,” said Teri Corbett, vice-
president of marine mammal
operations at Atlantis.

“In addition, the name ‘Missi’
is short for Mississippi, the ori-
gin of the Katrina dolphins,
which I am sure will no doubt

offer renewed hope to persons
of the Gulf Coast region who
were adversely impacted by
Hurricane Katrina in August,
2005.”

Kelly, Michelle and 14 of
their fellow Dolphin Cay resi-
dents were stranded when their
former home at the Marine Life
Oceanarium in Gulfport, Mis-
sissippi, was destroyed during
Hurricane Katrina.

After being rescued and
nursed back to health, all of the
dolphins were eventually trans-
ported to Atlantis to fully recov-
er and reside in the new state-

of-the-art habitat which features
11 interconnected pools con-
taining nearly seven million gal-
lons of seawater.

Atlantis says the successful
recovery of the Katrina dol-
phins and subsequent births of
the dolphin calves isa testament
of the high level of care and
attention provided to the dol-
phins, who receive round-the-
clock care by more than 55
marine mammal specialists.

“The births were very impor-
tant to us. It was a symbol to
us that the animals had adjusted
well to their new home and

were ready to begin their new
lives and continue growing their
families,” said. Corbett.

The calves are reportedly

developing into strong, healthy
dolphins, who spend their time
nursing and playing. “Just over
a month old Missi appears to
be very independent. She is also
very plump. Runner sticks close
to Kelly’s side but both are
developing personalities of their
own,” Corbett said.

Dolphin Cay will serve as the
only live marine mammal res-
cue arid rehabilitation centre in
the Bahamas. The facility was

recently granted accreditation,
by the Association of Zoos and

. Aquariums (AZA) indepen-

dent Accreditation Commis-
sion. Me

As part of the accreditation
process, Atlantis underwent
thorough investigations to
ensure it has and will continitfe
to meet ever-rising standards,
which include animal care, vet-
erinary programmes, conserva":
tion, education and safety. 113

Atlantis, Dolphin Cay, wass
also recently accredited by thé?

-Alliance of Marine Mammal

ae

Parks and Aquariums. a

wu

Elderly receive healthy living tips

Owe

THE Department of Public Health visited the Persis Rodgers Home in Oakes Field last Thursday in an effort to promote healthy °°
lifestyle among the elderly.

ran

(All photos: Raymond A Bethel)”



@ NURSING officer Terry Rolle (left) administering a Hepatitis
B vaccine to 80-year-old Enil Hanna, a resident. Gloria Gardner,
principal nursing officer at DPH, observes. :



\

@ SHANDERA Smith, DPH nutritionist (far right),
demonstrating some of the simple exercises that the residents
can do daily

a

li FROM left, Registered Nurse of the Year Kimberly Josey,
residents Nelly Brown and Dorothy Brown, senior trained
clinical nurse Inetta Butler and trained clinical nurse Erica
Humes :



a celebration of nature |

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



— = : RULES

B'CHARLENE Bain, DPH family care practitioner, exercising 1 Family Guardian’s Annual Calendar Photo Contest is open to all photographers. The title for the company’s 2008 calendar will be

with Henry Kemp, 94. “A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in |

: The Bahama Islands. All photographs must be taken in The Bahamas.

2 DEADLINE FOR ENTRIES IS MAY 31, 2007. <

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

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

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

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

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

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

9 The winning photographs, along with all publication and reproduction rights attached thereto, become the property of Family Guardian and the company
reserves the right to use such in the future. ‘

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

11 Previously published photos are not eligible.

eee ee ee ee

2008 CALENDAR PHOTO CONTEST ENTRY FORM

:
é
Â¥
‘























Photo by Tim Higgs
Family Guardian's i NAME .......ccccccccccssccosccscoscsscosscssscescescceccsccssssccesseacenensssanesnerseseenseneesaconsenssonessesseseesese store j
i TEL BUSINESS: désiccsivwesnsawoniutadine HOME.......s-sssssseessssessvessecsnecsnsetsnecssieseey J
5 POW BOR viecdcescctectce: STREET ADDRESS visiss-ses--sccccessesssscsessssessseasssratassenccusnonnteertss i
Sea WIRES cc >a desert iden ind Reem etl aterheensutameneima
DAT Bice cccessstdlcsonsessceneersiveds NUMBER OF PHOTOS ENTERED................-- (maximum of 5) i
i | agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family |

Guardian Calendar Photo Contest it wll become the property of Family Guardian Insurance Co. Ltd., and
| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the
photos entered in this contest were taken in The Bahamas by the undersigned and have not been

Return with antec AMI LY i !
UARDIAN I

Calendar Contest, Family Guardian
Corporate Centre, Village & Eastern Road

INSURANCE i
COMPANY

Roundabout, Nassau, Bahamas
" i ENTRY DEADLINE: MAY 31, 2007

Mh emmy mses cede cmt el

ABACO & ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232






oy

SALES OFFICES: NASSAU,

x.

@ TRAINED clinical nurse Mildred San
73-year-old Pearl Moxey’s hair

ds is shown braiding

Dg eae ene us



PAGE 12, WEDNESDAY, MAY 23, 2007

PLP members of th
enate are sworn in





@ THE Governor General making ronal in front of a
crowded throne room filled with PLP supporters



i LEADER of the Opposition i in the Senate, Allyson
Maynard-Gibson, receiving her instruments of appointment
from Governor General Arthur Hanna



@ LEFT to right: former Attorney General, Senator Allyson
Maynard-Gibson; husband Maxwell Gibson; Senator Pleasant
Bridgewater; Senator Jerome Fitzgerald; Senator Hope
Strachan; and husband Douglas



@ LEFT to ae Shane Gibson, former Minister af Immegration,
Sean McWeeney of Graham Thompson and Co., Emanuel Alex-
ioux of Alexioux, Knowles and Co. and Perry Christie former
Prime Minister and Leader of the Oppostion

THE TRIBUNE



a LEADER of the Opposition Perry Christie saneeniglaane his

new Senate team



RICHARD Parker shakes hands with Dr Bernard Nottage,
newly named leader of Opposition business in the House of

Assembly

(Photos: Franklyn G ee

New York judge kills plea deal for ex-Haitian
strongman on grounds charges too serious

n find them all in

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BT€ Directory Publications
eae | NASSAU =322-9183-7 ¢ FREEPORT - 352-2336-8
FAMILY ISLANDS -1-242-300-1997

www. btchahamas.com







m@ NEW YORK

A NEW York judge denied a
plea deal for a former paramil-
itary leader on Tuesday, saying

criminal allegations against him”

in Haiti were so serious he does

not deserve a break in his local >

bank fraud case, according to
Associated Press.

Charges that Emmanuel
"Toto" Constant ordered
killings and torture in the
Caribbean nation in the 1990s, if
true, "are heinous, and the court
cannot in good conscience con-
sent to the previously negotiat-
ed sentence," State Supreme
Court Justice Abraham Gerges
said in a written ruling.

Constant, 50, who has lived
in the United States for more
than a decade, pleaded guilty
earlier this year to second-
degree grand larceny with the
understanding he would be sen-
tenced to one to three years in
prison.

Last week, lawyers for the
state attorney general's office
and the U.S. Department of
Homeland Security had urged
the judge to reduce Constant's
sentence to time served — about
10 months — to speed his depor-
tation to Haiti.

The Center for Constitution-
al Rights had opposed the deal,
telling the judge that Haiti's jus-
tice system was too chaotic to
ensure Constant would face jus-
tice. The civil rights group also
argued the proposed sentence
in the fraud case was too
lenient, given his history.

The decision by Gerges
means Constant will be forced
to withdraw his plea and stand
trial on charges he defrauded
lenders out of more than $1.7
million. If convicted, he would
face five to 15 years in prison.





B@ EMMANUEL Constant

"Today's ruling was a victory
for Constant's victims, both in
Haiti and New York," said Jen-
nie Green, a senior attorney
with CCR.

Constant's lawyer, Marie
Pereira, did not immediately
return a phone message.

In court on Monday, Pereira
called the allegations in Haiti
"frivolous" and argued they
should have no bearing on the
fraud case. The defendant also
told the judge there was no evi-
dence that could "link me to
any type of massacre, execu-
tion, kidnapping, rape or any-
thing of that sort."

Constant, the son of a mili-
tary officer, emerged as the



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

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

Share your news

feared leader of the Front for
the Advancement and Progress
of Haiti, or FRAPH, after Pres-
ident Jean-Bertrand Aristide's
presidency was toppled in 1991.

Human rights groups allege
that between 1991 and 1994,
FRAPH terrorized and slaugh-
tered slum-dwellers loyal to
Aristide. When Aristide
returned to power in 1994, Con-
stant fled to the United States.

Despite a 1995 deportation
order, Constant was allowed to
remain because of instability in
Haiti. He kept a low profile, liv-
ing with relatives in New York's
Queens borough until being
jailed last year in the mortgage
fraud case.













‘%% eee



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ss a

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WEDNESDAY, MAY 23, 2007

SECTION







business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street







Grand Bahama firm in
China distribution deal

@ By NEIL HARTNELL
Tribune Business Editor

major Grand

Bahama

wholesaler has

“just signed” a

contract seal-

ing a three-way tie-up with

Mediterranean Shipping Com-

pany (MSC) and a $6 billion

Chinese conglomerate, its pres-

ident and chief executive yes-

terday telling The Tribune it

will pave the way for the com-

pany to distribute the Chinese

firm’s electronic and other

products throughout the West-

ern Hemisphere’ from
Freeport.

Roy Deffler, head of Inter-

national Distributors of Grand

Bahama, a subsidiary of US

* Associated Grocers subsidiary ‘just Sioned three-way contract with
Mediterranean Shipping Company and $6bn Chinese group, CITIC

* Freeport facility to ‘surpass our distribution out of Florida’
* Architect working on Phase II 200,000 sq ft warehouse expansion

grocery wholesaler Associat-
ed Grocers, said the contract
with MSC and CITIC, the Chi-
nese state-owned company,
could “involve a lot of things”.

He added that he was due
to visit China on June 1, and
during his visit would learn
“more of what we’ll do initial-
Ly?

The three-way venture is
likely to involve MSC shipping

Government to review
all the labour laws

By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

SENATOR Dion Foulkes,
minister of maritime affairs
and labour, said yesterday that
the Government will be exam-
ining the current labour laws
with a view to making amend-
ments and introducing new leg-.
islation where needed.

“We are reviewing all of the
five Bills that were put in par-
liament [by the first Ingraham
administration] - three were
enacted and two were not,” Mr
Foulkes said.

“We are going to look at
them to the extent that the
ones that were enacted may
have to be amended, and look
at the other two to determine
what is the earliest possible
time that we can have them
implemented. We are review-
ing all of the labour laws with
the view of making some
changes.”

The five Bills Mr Foulkes is
referring to are the. Trade
Union and Labour Relations
Bill, the Industrial Court and
Trade Disputes Bill, the
Employment Act, the Mini-



H DION FOULKES

mum Wage Act and the
Health and Safety at Work act.
The first two were shelved
back in 2001 and have never
been revisited, while the other
three were passed by the for-
mer FNM administration.

_ Shortly after being sworn in
as minister, Mr Foulkes had
told The Tribune he would be
moving to bring about the
implementation of the Inter-
national Labour Organisation’s

SEE page 8

Foreign price competition
hits bottled water suppliers

@ By NEIL HARTNELL
Tribune Business Editor

BAHAMIAN bottled water
companies yesterday told The
Tribune they were unable to
compete on price with import-
ed foreign-produced water on
smaller-sized bottles, as some
expressed concerns that this
nation could be used as a
‘dumping ground’ for poorer
quality imports due to the
absence of health regulations
and their enforcement.

Alex Knowles, Aquapure’s
managing director, said that
due to the lower operating
costs faced by foreign bottled
water producers, major
Bahamas-based retailers and
wholesalers found it cheaper
to import the smaller-sized bot-
tles from US wholesalers and
suppliers than purchase locally.

He explained that a pack of
24 12-ounce bottles produced
by major brands could be pur-
chased in the US for $3 by a
Bahamian wholesalaer or
major retail chain.

Even paying import duties
at a rate of 72 per cent, it was
cheaper for them to import
these bottled water cases. as

Bahamian firms unable
to compete on smaller
sizes, with some saying
absence of health
regulations and
enforcement could
expose nation to
‘dumping’ abuse

Bahamian water producers
priced the same-sized case at
between $8.50-$12 per case.

Mr Knowles said that Aqua-
pure was “hopefully going into
the business” of shrink wrap-
ping eight to 12-packs of bot-
tles within the next four weeks,
but pointed out that they went
‘head-to-head’ with imported
bottled water, and could not
compete on price.

“They're in direct competi-
tion with us,” Mr Knowles said
of foreign-produced bottled
water. adding that it eroded
the Bahamian bottled water

SEE page 11

CITIC’s products to Interna-
tional Distributors’ Grand
Bahama-based warehouse,
which is located in the Sea/Air
Business Centre. From there,
International Distributors will
turn the products around and
re-export them to clients
throughout the Hemisphere.
CITIC had previously signed

a Memorandum of Under-

standing for the establishment

ofa major 50-acre distribution
facility in February 2005,
involving exhibition, show-
rooms and warehousing at the
Sea/Air Business Centre.
These plans were put on hold,
but its interest in Grand
Bahama has not diminished.

The deal is likely to prove a.

tremendous boost to the
Grand Bahama economy, and

- the efforts of the Grand

Bahama Port Authority
(GBPA) and its major partner,
Hutchison Whampoa, to posi-
tion Freeport as a distribu-
tion/transhipment hub for the
Western Hemisphere, aided by
the absence of import and
export taxes under the Hawks-
bill Creek Agreement.

The success of International
Distributors’ venture is also
likely to encourage other

major wholesale and distribu-
tion companies to base them-
selves in the Sea/Air Business
Centre, once they see the suc-
cess of the US-owned firm’s
business model.

Mr Deffler told The Tribune
that construction work on
International Distributors’ first

SEE page 10

Banks: Bahamas has ‘best tourism growth potential’

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas has been ranked as the
Caribbean nation with the “greatest
tourism growth potential” by the region’s
major financial insitutions, a KPMG sur-
vey has revealed, providing a major boost
for the industry at a time when concerns
about its competitiveness persist.

The survey, presented at last week’s

Caribbean Hotel & Tourism Investment -

Conference (CHTIC) in Curacao, found
that 50 per cent of banking respondents
ranked the Bahamas as having the great-
est growth potential in the Caribbean
tourism and hotel industry, with the Turks
& Caicos Islands close behind.

The KPMG survey said: “Of the local
financial institutions surveyed, half of
respondents agree that the Bahamas, with
its historically strong tourism product, has
significant growth potential.

“As the market for condo hotels in the
region continues to grow, regional lenders
are becoming more optimistic about the

Patricia -
Real Estate Agent

Some 50 per cent of financial institutions in KPMG survey rate
this nation as ‘having the most potential for growth in the region’

- growth and sustainability of such projects.

“While concerns over the US economy
and the softening of the housing market
increase, the outlook for condo hotels is
even more optimistic than last year, and
multi-use properties continue to grow in
popularity.”

The KPMG survey, which was present-
ed at the conference by Bahamas-based

partner and regional director of the com- °

pany’s corporate finance arm, Simon Tow-
nend, found that while still optimistic
about the increasingly popular condo
hotels, there was now greater focus on
condo ownership, rental pools and frac-
tional ownership options.

While the Bahamas and the Turks &
Caicos Islands were “‘viewed as having the
most potential for growth in the region”,

_ the KPMG survey added that 44 per cent

of banking respondents rated the Domini-

can Republic as a front runner, just pened.
this nation.

Among the banks and institutions that iS
responded to the survey were Bank of
Butterfield, FirstCaribbean International
Bank, Royal Bank of Canada and Scotia-
bank, all of whom have a significant pres-
ence in the Bahamas. Between all those
surveyed, they had a total tourism sector
exposure of $2.6 billion.

The financial industry’s assessment of
the Bahamas’ growth potential is likely

to have been influenced by the sentiments -~ oe

of organisations such as the International
Monetary Fund (IMF), which reported
that some 53 tourism-related projects val-
ued at $13.6 billion are currently at various
stages of construction”.

SEE page 9

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CABLE FREDERICK WULFF MACKEY. PARADISE FREEPORT
17 Nod Su ay ROAD Maa ISLAND









PAGE 2B, WEDNESDAY, MAY 23, 2007

BUSINESS

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important to me. The Tribune is

The Tribune

My Voice. My Vewzpaper!

Inagua native named to
hotel executive post

THE TRIBUNE



@ SHERVIN PENN

he operators of

Exuma’s Grand Isle

Resort & Spa have

named Shervin
Penn as the property’s assis-
tant general manager.

Grand Caribbean Resorts
said in a statement that Inagua
native Mr Penn’s promotion,
at the age of 30, makes him
one of the highest-ranking and
youngest Bahamian executives
in the tourism industry.

“We are pleased to
announce the promotion of
Shervin Penn to assistant gen-
eral manager with responsibil-
ity for administration and oper-
ations,” said John Shkor,
Grand Caribbean Resort’s
chief executive and president.

“As operations manager,
Shervin proved he was dedi-
cated, willing to pitch in and
do whatever it takes to pro-
vide a satisfying experience for

y newspaper.”

(Photo courtesy)

our guests.

“We have been so impressed
by the way he inspires staff.
We believe that Shervin truly
understands the meaning of
hospitality.”

Mr Penn earned a degree in
marketing, worked in that field
briefly and then spent. seven
years at'the British Colonial
Hilton in Nassau before joining
Grand Isle, a resort featuring
78 condotel units.

“Seeing satisfied guests and.
learning they can’t wait to
return -- that does it for me,”
said Mr Penn in a statement.

“I am happy that we have
an extraordinary product that
is easy to sell, and we have a
greatteam.” —.- :

Grand Isle, located at the

' highest point of Emerald Bay,

has been ranked number one
of nine resorts in Exuma by -
TripAdvisor.com. ..’

“Infor ative. I can be sure to read something of value in The Tribune. It is filled with

information about local news, sports, entertainment and world news — subjects that are

JASON RAHMING

CONSTRUCTION FOREMAN

Purchase The Tribune from your
local store or street vendor.





_ [BUSINESS



Che AMiami Herald



THE MARKETS

STOCKS, MUTUAL FUNDS, 7B
pow30 ~—-'13,539.95 -293 W
sap500 —«-;s24.iz. -0.98 W
NASDAQ 2,588.02 +9.23 4
10-YRNOTE 483 +04 &
CRUDEOIL ©«-«64.97 130 W

Stocks
flat as
investors
await
catalysts

BY JOE BEL BRUNO
Associated Press

NEW YORK — Wall Street
ended an erratic session little
changed Tuesday as investors
upbeat about the latest round of
takeover activity remained hesi-

_ tant to take the market higher
ahead of new economic data.

While stocks moved side-
ways, Treasury yields rose toa
three-month high.

Investors have viewed acqui-
-sitions as a sign corporate exec-

_ utives are comfortable with the
economy. However, stocks.
failed to gain much momentum
as several deals were
announced Tuesday, including
billionaire investor Kirk Kerko-
rian’s plans to buy the Bellagio
Hotel & Casino in Las Vegas

. from MGM Mirage.

Further direction might
come Thursday, when the Com-
merce Department reports on
durable goods for April. The
report could offer insight into
the health of consumer spend-
ing, which accounts for two-
thirds of U.S. economic activity.

With Tuesday bereft of

“major economic reports, . Wall.
Street was watching talks *
between U.S. and Chinese gov- »
ernment officials about trade
and foreign exchange policy.
Chinese stocks rose to.a fresh
record high’ for the. second day: ©

in a row Tuesday, as investors —

_ there were encouraged by.
expectation$ for a stronger: yuan | '

hous a




The D
fell 2.93, or 0.02: percent, to.
13,539.95.

ow. Jones industrials

Broader stock indexes were
mixed, The Standard & Poot’s
500. slipped 0.98, or 0.06 per-
cent, to 1,524.12. The index, con-
sidered by market professionals
as the best indicator of stock
‘performance, passed its record

close of 1,527.46 on Monday and
again. ‘Tuesday: for the first time
since 2000. However, the S&P
remains well below its trading
high of 1, 552. 87, reached in
March 2000. ° i

“The Nasdaq (aemnposite
index, which has lagged the
other major indexes in recover-
ing from Wall Street’s pro-
longed slump early in the dec-
ade, rose 9. 23,.0r e 36 percent, to
2,588.02.

The Rustell 2000 index of
smaller companies set a record
close after rising 6.27, or 0.75
percent, to 839.92, The previous
record was sét May 9.

Bonds slipped, with the yield
on the benchmark 10-year Trea-
sury note rising to 4.82 percent
from 4.79 percent late Monday,
in part because of a flood of cor-
porate bonds in the market. The
dollar was mixed against other
major currencies, while gold
prices fell.

‘Oil prices backed off their
recent run, with a barrel of light
sweet crude falling $1.30 to
$64.97 on the New York Mer-
cantile Exchange.

Advancing issues outpaced
decliners by a 9 to 7 margin on
the New York Stock Exchange,
where consolidated volume
came to 2.82 billion shares.

Japan’s Nikkei stock average
closed up 0.70 percent. At the
close, Britain’s FTSE 100 was
down 0.46 percent, Germany’s
DAX index rose 0.53 percent,
and France’s CAC-40 was
essentially unchanged.



a,



WEDNESDAY, MAY 23, 2007

CAPTIVE AUDIENCE: Chinese Vice Premier Wu Yi, left, listens as Treasury Secretary Henry Paulson <
speaks at the U.S.-China Strategic Economic Dialogue in Washington, D.C., on Tuesday.

China, U.S. start
new round of talks

BY MARTIN CRUTSINGER
Associated Press
WASHINGTON — The United

States and China opened a new

round of high-level economic talks

on Tuesday with the leader of Chi-

na’s delegation bluntly saying that

any effort to politicize economic
_ differences between the two
| nations was not acceptable.

The Bush administration was
pushing for concrete results to
show to an increasingly restive
Congress, where lawmakers blame
America’s soaring trade deficits
and the loss of one in six manufac-
turing jobs since 2000 in part on
China’s trade practices in such
areas as currency manipulation and
copyright piracy.

The U.S. delegation also raised
the issue of food safety highlighted
by such incidents as the deaths of
pets who had eaten pet food made
with tainted wheat gluten imported
from China.

U.S. Trade Representative Susan
Schwab, who briefed reporters on
_ the discussions, said food safety
_ was raised over breakfast by Agri-
culture Secretary Mike Johanns and

Health and Human Services Secre-

tary Michael Leavitt.

i “They know this is an issue that
concerns us and concerns the
| American people,” said Commerce

TECHNOLOGY

You can design your own cellphone firm

BY BRUCE MEYERSON
Associated Press

NEW YORK — Maybe it’s time to
stop grumbling about your cellphone
company and just start your own.

That’s what Rod Farthing did, at
2:30 a.m. no less. Oh yeah, it took him
just a few minutes to get Farthing
Mobile up and running, replete with a
selection of national calling plans and
cellphone models.

Business is slow so far: Since the
April launch, Farthing has signed up
two subscribers, himself and his son.
But he has two prospects in his wife
and another son.

Well no, Farthing didn’t actually
build a cellular network or develop a
billing system and everything else
that one needs to run a mobile phone
business.

Instead, he created Farthing
Mobile through Sonopia, a new “do-
it-yourself” service that enables
groups and individuals to design
their own cell brands with a healthy
dose of social networking gone
mobile. Sonopia buys air time from
Verizon Wireless to provide service,
a fact hidden by each group’s brand
on the phone’s screen.

“I don’t expect to get rich off of it,”
said Farthing, 50, a self-described
“cellphone junkie” in Toledo, Ohio,
who is tailoring his cell service to
people interested in technology. He’s
also using it for a class project in an
e-business course he teaches at a



Secretary Carlos Gutierrez, who
said the issue would be addressed
more formally in a later session
before the talks conclude on
Wednesday.

In opening remarks delivered i in
an ornate government auditorium
decked out in flags from both
nations, Chinese Vice Premier Wu
Yi cautioned the United States
against pursuing a blame-game.

“We should not easily blame the
other side for our own domestic
problems,” Wu said, speaking
through an interpreter. “Confronta-
tion does no good at all to problem-
solving.”

Wu, who gained a reputation for
tough speaking when she was Chi-
na’s top trade negotiator, said that
both sides should “firmly oppose
trade protectionism.” She said that
any effort to “politicize” the eco-
nomic relationship between the
two nations would be “absolutely
unacceptable.”

Wu and her delegation were
scheduled to meet behind closed
doors on Thursday with key lead-
ers of Congress, including House
Speaker Nancy Pelosi, who has

been a vocal critic of China’s ~

human rights policies. Lawmakers
are pushing a variety of bills that
would impose economic sanctions

on China in the wake of a trade def-_

_ stake that American firms can own

GERALD HERBERT/AP

icit with China that last year hit
$232.5 billion, accounting for one-
third of America’s total record defi-
cit of $765.3 billion.

Treasury Secretary Henry Paul-
son created the Strategic Economic
Dialogue last year as a way to get
the country’s top policymakers
together twice a year to achieve _



results that will ease trade tensions. |)
-” Warfier Music Group, tried to skirt

The first meeting was held in Bei-
jing last December.

Breakthroughs at this meeting
were expected in the area of cutting

tariffs on sales of American energy | s

technology products and services
in China and increasing U.S. airline
passenger and cargo flights to
China.

However, success in another |
area — getting China to boost the

in Chinese financial service compa-
nies — seemed less certain. The
current cap on foreign ownership
of Chinese banks is 25 percent.

U.S. officials tamped down
expectations of any big outcomes,
saying the meetings were not
meant to be negotiating sessions.

But Gutierrez said there was
impatience on the U.S. side. He
spoke of the “need to make prog-
ress in all areas as soon as possi-
ble.”

eis sepsis Shaan eknaticibandubondenanganastmineibannnc dinar ipinabBork









J.D. POOLEY/AP

ALL IN THE FAMILY: Rod Farthing, right, is shown with is son, Kevin, in
Toledo, Ohio. Rob Farthing created Farthing Mobile through
Sonopia, a new ‘do-it-yourself’ service that enables groups and
individuals to design their own cell brands.

local college. “If I get up to 100 mem-
bers I'll be happy. If I get up to 50 I'll
be happy.”

Since Sonopia’s public launch in
early April, about 1,000 of these cus-
tomized cell companies have been
created, including about 100 by the
startup’s employees.

A handful have been launched by
sizable nonprofit groups such as the

supra remanence aermcemremmemremmmmmas





- from the merger of the Sony-BMG
~ Music units more than two years. age
| that the EU is now re-examining. |

for physical CDs declines rapidly, but
tisk trouble with. regulators if they
- pick partners within the. industry as

-to-a $4.7 billion bid from privat
- equity firm Terra Firma — a bid that
‘Inay yet trigger a higher offer front
Warner.

‘) > to-serve our: songwriters, composé:

’~ Jenging marketplace,” said Univer
_ President Zach Horowitz.



National Wildlife Federation, the .

National Parks Conservation Associ-
ation, and the American Medical Stu-
dent Association. Others were
started by sports teams like minor
league baseball’s Long Island Ducks
and the Chicago Bandits of the
National Pro Fastpitch women’s soft-
ball league.

But the vast majority of Sonopia’s

_ BY AOIFE WHITE
taf Associated Press

tors gave Universal Music Group

‘the world’s largest music publishing
company.

only by the companies’ plan to sell’
‘the rights to some hits from the ’80s

_berlake, Iron Maiden and R. Kelly.
~ No. 4 music publishing, catalogs

~. to artists as diverse,as Mariah Carey

~ share, it will scrape ahead of current

artists: suchas, Mary J. Blige ‘a
~ Chamillionaire. That few enlarged

hit list of Rondor but must sell thé
. British arm that owns:
* bands such as "80s chart toppers Dire

‘ lies and tiny groups with very spe-
.‘cialized interests: |

with 13 members, the 10-member











“BRUSSELS, Belgium — EU regula-




clearance Tuesday to. buy BMG









The EU warned, however, that its
“serious doubts” about the deal’s.
effect on online music were soothe







and ’90s by artists such’as Justin Tim.






_ Combining the world’s No. 3 and





give Universal the publishing rights









U2, 50 Cent, Elton John and Leonard’ :
Bernstein. With a 22 percent market.








market leader EMI Group PLC.

EU approval was the last hurdle
for the deal, which Universal said ©
would close shortly. It is separate —























































Music’ companies “have | bee
looking to consolidate as the market

the number of major players shrinks
EMI, which has long flirted with

this problem on Monday by agreeing

Bringing Universal and BMG
under one roof “will create 4 publish
ing business that is even better suited

ak

Universal is the world’s. largest
music company, and its publishii
arm controls the rights to song:

and business partners in this cha



unit will trade under the Universal:
name and will be led by Los-Angel
based David Renzer, the curr
chairman and CEO. .

Universal will-keep the American

+Nf

‘by: m an y

Straits.

growing roster of wireless communi-
ties wete started by individuals, fami-

Thete’s “Aviation History Mobile”

“Mums in Business,” the six-memb
“Bitta Itish Phone Club,” the 13-mem-
ber “Peninsula Skate Crew Mobile,”
and the five-member “Scrabble: 3
Mobile” featuring weekly contests to“ 5
devise the highest-word score with aes
set of letter tiles. | e
Politics, naturally; aren’t off limits, 3
Theré are Sonopias devoted to sup-~
portifig the presidential ambitions of
Senators Hillary Clinton and Barack’ ~”~
Obama. The polls haven’t closed, but _.
the latest tally shows “Obama For)
President Mobile” leading “Hillary ::
Clinton Presidential Campaign” 12 ‘a
members to ten.
While every tiny cell contig’
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organizations are a major focus. Son-“*"
opia points to the devotion people ~
show for favorite charities, commu~
nity groups and sports teams as a nat-
ural selling point. A small percentage
of the monthly phone bill kicks back
to the organization, providing an easy ©
way. for menibers to pad their finan"
cial support for a cause.
Sonopia provides tools for each gee
community to share information, ~~
photos and other multimedia content: é
on the phone, as well as a dedicated ©

website.







THE MIAMI HERALD | MiamiHerald.com



sap 500 NASDAQ > pow 6-MOT-BILLS & , 9 30-YRT-BONDS @+.04 _ GOLD -3,80 EURO @ - CRUDE OL
1,524.12 -98 9588.02 +9.23 13,539.95 2.93 4.84% -03 4.98% $659.10 1.3454 0013 “$64.97 © -1.30
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Schimbrg 7911.03 TREASURIES | YEST PVS CHG WK MO QTR AGO
1,500 - Schwab -20.97.—S ~.15 bel 3-month T-bill 4.78 4.77 +001 A V V 471
SeagateT 21.35 +.49 6-month T-bill 4.84 4.81 +003 A VW V 481
SearsHldgs 178.62 -.97
1,450 ees SempraEn 64.50 +.18 e l-yearT-note 4.97 4.96 +001 A A A 4.98
ShawC g 40.15 -.40 e 2-year T-note 4.84 4.79 +005 A A A 4.95
Sherwin 67.51 +11
: 5-year T-note 4.75 4.71 +004 A A A 4,94
1,400 z Shinhan = 118.00 —s+.77
‘ ae 69.99 +.27 10-year T-note 4.82 4.78 +004 A A A 5.04
‘ EY ae iderNac 51.65 -1.10 30-year T-bond 4
1,350 Nasdaq composite. Siemens 124.88 +.68 year T-bond 4.98 4.94 +004 A & & 513
Close: 1,524.12 Close: 2,588.02 SimonProp 106.03 +1.85 es ive
; ; Change: -0.98 (-0.1% : Change: +9.23 (+0.4%) Smith&N 61.67 -.16
1,300 eesesccsscrtesssstersenecnsnneertaneentcnecnteanstenesneente esestal Sek a 2:200 «si shiiiisainaenai sid inecutanidn. Me kk Smithintl 54.90 -.96. BONDS YEST PVS CHG WK MOQTR AGO
D J F ” A M D J F M A M Sodexho 77.20, -+.08 Lehman Bros Bond !dx5.01 4.97 +0.04 A A A 5,23
es ae “ Bond Buyer Munildx 4.69 468 +001 A A A 481
: a Lehman US InvGrade 5.44 545 -0.01 A.A A 5.63
SthnCopps 85.68 -.42 ‘
StocksRecap WIGH LOW CLOSE CHG. %CHG. WK MOQTR YTD. Swathi’ (44S pA PRIME FED Lehman USHigh Yield7.41 742 -O01 ¥ VV 829
DOW 13586.68 13528.98 13539.95 -2.93 -0.02% A A A_ +8.64% SwstnEngy 46.76 +.17 YEST 825 521 Moodys Bond Index 5.50 549 +0.01- 4 A A 588
NYSE NASD DOW Trans. 5207.20 5166.07 5197.19 5.75 -0.11% = A A +13.97% SovrgnBcp 23.94 +.33 Seve: 9 _Bank Index 117.93 11791 40.02 & & A 108,95
DOW util. 537.12 533.43 533.70 -2.02 -0.38% A A A +16.84% SpectraEn 2651-33 EV 8.25 5.22 ’ 5 a
Vol. (in mil.) 2,820 1,926 NYSEComp. 9931.32 9891.97 9900.96 +350 +0.04% A A A +8,34% SprintNex 2146 +06 WKAGO 8.25 5.28 D! Corp Bon 198.73 199.23 -0.50 ¥ ¥ A 18580
Pvs. Volume 3,479 1,916 NASDAQ 2593.03 2573.95. 2588.02 +9.23 «-+0.36% A A A 47.15% SPDR 15242 -12
Advanced 1786 =. 1932 S&P 500 1529.24 1522.05 1524.12 -0.98 -0.06% A A A_ +7.46% SP Mid 164.91 +19 aon :
Declined 1513 1110 S&P 400 909.55 903.13 907.46 +190 +0.21% A A A +412.82% Staples 25.05 -.62 Commodities COMMODITY CLOSE PVS. %CH. %YTD
New Highs 252 174 Russell 2000 841.38 832.16 839.92 +6.27 +0.75% A A A_ 46.63% Starbucks 29.01 -.27 Unleaded Gas (gal) 2.31 2.40 3.75 +44.2
New Lows 11 41 Wilshire 5000 15418.09 15338.78 15372.80 +1690 +0.11% A A A_ 47.82% StarwdHtl 69.20 +.84 Crude Oil (bb!) 64.97 66.27 -1.96 +6.4
StateStr 68.67 -.21 Gold (oz) 659.10 662.90 -0.57 +38
. Statoil 27.95 -.11 Platinum (0z) 1298.70 1319.70 -1.59 +14.0
WidelyHeldStocks StoraEnso 19.15 +.12 Silver (0z) 12.92 13.06 -1.07 +09
Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg Stryker 67.37 +.21 Coffee (Ib) 1.12 = 1.12 we 113
ABvamo aa faz Boston “ise cn EOGRes = 77.53 -1.00{c "43.59 14 © -NYSEEur 86.41. -.02 Sunltfn g ar 3 sugar aby a 0.09 0.08 aes a4
BNA 47.81 +52 61+, : s ; af ur : - i ~ . ; aio 2933
ie ltd 6213. +01 BrMySq 30.22» -.09 «= =EKodak = 25.06.01 Impoilgs 48.13. +161 Nabors 35.60 -.34 «= SunMicro = 5.3801
AESCpif 2337 -24 BritATob 6485 +42 Eaton 9148 -83 ImpTob 84.77«-.74~—SsCNaSspers = 27.77 ‘+105 «= Suncorg = 86.70.86
AFLAC 52.16 +37 BritSky 5116 -55 EchoStar 4843-113 indotel = 44,00«+.46 «= NtAust «= 175.85 -1.20 © Sunoco 78.11 +.81
AMR 27.68 +137 Broadcom 30.92 +.07 Se 4380 +05 Infineon 1487 +12 NBKGreece 1172 +10 Sais « -AteD) oe Foreign mati) ive
ASMLHId 25.36 +.04 BrkfidAsgs 65.13 +.40 ! : . Infosyss 50.04 +.05 Watttlty 26.87 +03 Supvalu 47.05 +.63 :
AT&T Inc 40.44 «=.= BrkfidPrp ©3912 -28~=—«ElPasoCp = 15.92 30 ingerRd = 48.87» ~03——NOilVarco 92.29 -2.36 Swisscom 35.03 +.41 Exchange COUNTRY CLOSE ___CHG.__%CHG._AGO_AGO
AUOptron 15.87 +11 ~ Bungelt 7957 +.40 oa a ao or Intel 22.99 +36 NatSemi 26.53 -.22 Symantec 19.63 -.16 ‘ Argent (Peso) 3249-0002» -.06 ~=—.3246.. -.0004
AXA 43.20 -.22 BurlNSF 92.10 -1.45 EDS 98.43 aa IntentlEx 151.40 +5.32 NetwkAp 37.84 —-.37 Syngenta 37.54 +.43 Brazil (Real) 5147 —--.0004 -08 .4621 +.0802
AbtLab 57.69 -94 CAlInc 28.13 +21 Babar Paes i IntCtlHtIrs 26.71 -08 NewellRub 30.90 +38 Synmovus 33.07 —+.50 b Britain (Pound) 1.9751 +.0049 +25 1.9146 +.0879
AberFitc 80.99 -34 CBREllis 37.71 +.01 a Baran a IBM 106.70 -.34 = NewfidExp 47.62 -62 Sysco = 32.90 -.05 Canada (Dollar) 9209-0009 = 10-8765 +.0240
Accenture 3962 04 CBOT- «196.95 +95 FErMNEIS 6.087 Intigame 40.95. +90 NewmtM «38.77, =.68, TD Ameritr 18.81 +44 FM chile (Peso) 001902 -,000017 89 .001889 +.000014
Adecco 18.06 CBSB 3282 -.02 Enbrid es Gi IntPap 38.81 -.01 NewsCpA 2239 +.06 DK 90.28 -.67 Colombia (Peso) .000511 +.000008 +1.57 .000437 +.000111
AdobeSy 43.59 +34 = CDWCorp 7872 +73 ETE G® Re IntiPower 93.29 +1.02 NewsCpB_ 23.80.10 UK 797-31 Dominican Rep (Peso) 0313 -.0000 -.00 0296 +.0005
AML 1542-01 CHRobins 5209-37 - eee Intuit s 30.97 -24 Nexengs 3044 -36 INTNV 4454 +21 Euro (Euro) 1.3454 -.0013 -10 1.2936 +.0584
Advantstrs 43.41 +43 CIGNA 163.56 +.01 Enel ep > ae Ipscog «157.03 -.22»NiSource 25.20 «+05 +49 ‘TXUCorp ~—67.05 Japan (Yen) 008226 -.000007 -.09 .008562 -.000760
Aegon 20.66 +20, CITGp O43 433 Cee 3986-16 JPMorgCh 52.29 -27 —Nidec 14.49 +12 TaiwSemi = 10.66 +15 Mexico (Peso) 092785 -.000092 -.10 091229 +.004242
Aetna 52.36 -02 CNAFN 56 +39 ngyTEq . . JacobsEs 55.76 +54 NikeBwi 55.13 +45 TalismEgs 20.04 -.45 Uruguay (New Peso) .0420 -.0000 -.00 .0412 +.0002
Agilent 3854 +22 CNHGbI 4515 97 —-EngyTsfr «= 61.00 +67 ohnin == 63.58 +06 = NippnTT =— 23.38 Target 58.04 -.10
Ahold 1271-11 CNOOC 95.42 +129 Enersis = :17-72, 64 = Johnsnctl 109.36 © -.86 Nissan 22.10 +19 ‘TataMotors 1807 +.26
AFrance 4896 +1.21 CPFLEn 55.22 -.85 —-ENSCO 58.97 -1.23 JnprNtwk 23.85 +08 ~—sNobleCorp 9.86 -2.08 Technip 76.70 +.13
AirProd 78.27 «+31 = CRH 4g.85 +156 Entergy 116.01 -1.61_—KLATnc §=— 54.05 +56 ~—NobleEn 62.99 65 © TeckCmgs 40.25 -1.46 GlobalMarkets
AkamaiT 44.66 -.55 -CSXs 4479 -g3—SC*EntPrPt = 32.11.14 Kp 16.44 +.07 NokiaCp 26.43 «-54.—CTeICNZ 27.64 -.05 EN ENS
Akzo 81.50 +114 CVvSCare 37.58 -22 FEaqtRes S211 -02 kT Corp = 23.84 -.27 = Nomura = 20.31«+.94 = Telitalia © 29.20 +.08 INDEX YEST CHG %CHG WK MO QTR YTD
Alcan 81.03 -.07 CablvsnNyY 35.40 -.02 «-EatyRsd = 47.19 +52 Kellogg © 53.62. +.02~—Nordstrm = 52.05 -.65 = ‘TelitaliaA 23.2907 Cp gay 1524.12 --0.98 —-0.069
AlcatelLuc 13.66 +.¥1 CadbyS 54.13 -.32 EricsnTl 3814 +.02 — Keycorp 36.47 -12. = NorflkSo 57.29 Ss -.21.—~Ss«*TeIBrasH = 40.13 +111 ‘ fats 0.06% A A A 47.46%
Alead 3895 04 Camecogs 5061 69 Esteeldr 47.26 +10 Keyspan 41.41 «08 Norsks «3544. «-0-~=«*TelSPaulo «29.61 +01 Frankfurt DAX 7659.39 +4008 +053% A A A +16.11%
Alcon 135.03 -06 Cameron 69.83 -136 EverestRe 10638 -01 Kimbclk 70.94 -52 Nortellfrs 25.44 +19 ©‘TelefEsp = 67.38» +.37. «= London FTSE 100 6606.60 -30.20 -0.46% A A A +6.20%
AllgEngy 54.56 -75 CampSp 39.56 +.06 — Exelon 7736-20 Kimco 44.47 +38 Nortrst 6421 +14 ‘TelMexL © 40.16 +46 Hong Kong Hang Seng 20843.92 -83.83 -0.40% WV A A +4,40%
AllegTch 112.65 -192 CIBCg 98.04 +1.05 Sais ace = KindME 55.72 +39 NorthropG 75.83 -1.03 Uses 57.68 -~14 paris CAC-40 6089.72 —-0.19 ww wk A bd 49.89%
Allergan ay oe canes aH * piscine. Ste ke pmvor ie ~ ert eH o oe If a a * Tokyo Nikkei 225 17680.05 +123.18 +0.70% A A A +2.64%
Allianz 21.93 +20 CPRwyg 7070-33 «= ExxonMbl 82.77 82 Kookmin 90.00 +1.50 Nucor 65.74 -.65 ~— ‘Telusg 58.90 +.63
Aldirish 61.00 -.18 Canons «= 58.56 +24 «= FPLGrp = 66.09 +57 Koreaklc © 22.38 +14 Nvidia 353) ato “Templeln'- “6239 4.34 “SOUTH AMERICA /‘CANADA .
Allstate 61.92 -.69 CapOne 78.62 +.70 FannieMIf 63.43 +.14 Kraft 33.34. +.15 OcciPets 54.52 -.27 Tenaris 46.73. -.47 Buenos Aires Merval 2193.47 -15.61 -0.71% A A A_ +4,93%
Alltel 6878 -82 CardniMith 7186 +09 Fastenal = 42.99 +42 Kroger 2953 +01 OffeDpt. 35.28 +«—-02:~«C«C“Terexs «= 80.64 +117 Mexico City Bolsa 0802.25 +93.52 +0.30% A A & +16.46%
AlteraCpif 23.10 +17 Carnival 49.88 +.46 Hae Dae Ba Kubota. 38.70 +57 Omnicom 10369 +14 ‘Tesoro 120.01 -99 Sao PaoloBovespa 52208.09 -215.36 -0.41% A A A +17.39%
cl Le Kee lla = s at noes - - Oracle 19.37 +.05 Ll oat ae Toronto S&P/TSX 14112.19 +685 +0.05% A A A 49.33%
jumina i : inal : *s -3Com : +. i , F * : '
AmBevC 66.94 -.92_— Caterpillar 75.51 +.66 er a er aE LGPhilips 20.77 -.45 Pa Cp op as Laks 104.91 3 ASIA
AmBev — 67.62 += -.98 ~—S Celgene 65.97 . +.97 ; . LSI Corp 8.20 -.09 PNC 74.16 -47 ‘ThermoFis 53.69 +.1 : ,
Amazon 6888 +58 Denexc 3557 +23 FirstData s 3259 -.01 Labcp 7844-35 nosca 1321 +177 Thomson = 43.09. -07 Seoul Composite ; 1642.88 +1468 +0.90% A A A +14.53%
AmbacF 94.24 -1.05 Cemigs ~=—«-38.25-.16—«‘FirstEngy = 72.14.09 afargeSA 43.15 +16 PPG TG., sods GaN. “FSBLTB erat’ _ SINSApORS sualts TInes san b> sees” Sane A ee
Amdocs 37.81 -13 CenterPnt 19.48. -.08 Fiserv 53.23 -.27 LamRsch 51.35 “52 PPL Corp 45.00 “78 Tiffany 52.45 +.42 Sydney All Ordinaries 6350.20 -22.30 -0.35% A A. A 12.51%
Ameren. 53.90 -17 ChesEng 35.25 -36 Flext 1135 +01 Lysands + 80.19 +428 Paccars . 8692 -1.27 TWCablen 3852 +.21 Taipei Taiex 8188.63 +47.04 +0.58% A A A_ +4.66%
AMovill 5892 +.06 Chevron 82.18 -65 “Fluor 101.70 +121 LeggMason 101.40 +135 parkHan 97.54 +88 +©«‘TimeWarn 21.60 -.15 = Shanghai ShanghaiB 340.47. -25.17 -6.88% A A A +161.68%
AMovilA 58.82 +02 ChiMerc 522.16 +7.16- ioe ere LehmanBr 74.08 +77 Paychex 40.09—-+.11 Tent oe +.05
AmCapStr 47.48 +.58 inalfes 4882 - 2 i +. % TorDBk g 67.23 oo.
AEAgIe0 5 28.06 -1.27 onal 47.15 4s ForestLab 51.88 +.09 ge aaa oe 7s) 04 ‘TotalSAs 7559-67 ae : we
AEP 4888 -82 ChinaNet 5273 -03 FortuneBr 79.21 -.70 1 ibGlobA «38.00 -«~-29-~—SsPennWst gn 34.82 _-.63,._ TotalSys 34.06 +1.62 Largest Mutual Funds
AmExp 64.27 ChinaPet 103.64 -131_ FosterWh 97.41 1.39 LibGlobB 37.61 Penney 78.76 -11 Toyota = 119.31 -1.07
AmintGplf 71.94 -05 ° ChinaTel 53.64 -73 FranceTel $= 29.71 +39 LipGlobc 35.75.10 PepsiBott ©3381 «+02 «‘WCdag = 36.86 +.17 12-MO 12-MO 12-MO
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AmTower 41.38 +.04 ~~ Chubb 54.84 ac 68 +. LibtMCapA 117.32 -82 — Petroc 5085 +15 ‘Travelers 55.65.24 ;
Ameriprise 6170 48 ChungTel «1930 «#a9««FMCG = 71.35 103 lye 5953-09 —pethina 12988 135 ‘Tribune = «33.01.03 IM paeety Spartan DinyEAMR I tee E OCT
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Ameribrg 5130-38 CinnFin. 46.4013 PEM Limited 25.9818 PetrbrsA 96.32.03 17-06 American Cent 500Indxin 106.00 ~07 +23.0 MyjstrBds 10.30 -.02 +5.7
Amgen 53.96 -22 Cisco 2637-03 Fulflm 4136 +24 Lincwat_ 73:75 02 Petrobrs 10867 17 TWeoInt! 32.66 +48 train 28.98 -01 +102 USEgIndx! 54.05.03 +230 ome
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amvescp 2421 “is " Glearchan za +96 es ee UoyaTSB 4525-01 PLD SAGT +49 UBSAGs 63.74 19 “AmcapA m 21.58 +01 +175 GIbAm 4895 +10 +197 oe 969» +59
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AngloAm 2888 -.23 Coach 49.23 +.65 nbynam . vl. Lowes s 31.73 -.15 PitnyBw 47.39 +.32 UltraPt g 62.87 —-.89 CapIncBuA m65.21 -.04+255 CATFAm 7.31 .. +5.7 T-Rowe Price
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Anheusr 51.07 +142 CCFemsa 40.15 -.25 Poth ear ee lyondell 36.97. 16 ~— PlumCrk = 40.61.««+.55 ~—«UnilevNVs 29.81 —_+.09 a mt aa _ a oes m au “ i CapApprec 22.15. +19.9
AonCorp 4298 -53 CCHellen 45.06 -1.10 5 ; M&TBk 113.11. +17 PoloRL = 96.48 +1.04 ~—«Uilevers 31.16 +.15 See ane as mooger ow Tes Eqindex 40.95 -.03 +227
Apache 78.40 31 Cocacl 5148-43 GnMotr 31.36 +.08 MBIA 6946 +15 UnionPac 118.56 -52 GrowAmerA m35.66 +.01+18.7 IncomeAdv 2.81... +24.2 Eqtyinc 31.85 -02 +251
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Appleinc 113.54 +1. ColgPal 66.95 -08 Genzyme 6222-52 MGMMir —79.98_+17.03 — PwShsQQQ 47.05 +04 IncAmerA m 21.54 -.01+233 piscovA m 33.64 +.05 +30.4_ (IntiStk 18.20 +.05 +24.8
ApldMatl 19.17 #27 & je dae nui Sieh is Macerich 86.80 +1.06 Praxair 69.37 +45 UPSB 70.10 21 InvCoAMA m 35.95 -.02 +205 Shares A m 28.25 +.04+24.0 MidCapVa 28.19 +.07 +278
ArcelorMit 5861 -.5i ‘omecast . . 5 Magnalg 85.14 +129 —PrecCastpt 115.42 -1.01 | USBancrp 34.42 16 MutualA m 31.79 -.01+23.5 Shares Z 28,48 +.04+24,5 MidCpGr 61.60 +.09 +213
ArchDan 36.48 —-.32 Comesps 27.08 -.10 GilleadSci_ 83.72 +1.02 — Manpwi 87.24 -16 Pri US Cellulf 75.15 NewEconA m 28.83 +23.6 NewHori 35.40 +.14 +14.2
7 . : . riceTRS 49.25 -.26 : ! ~ 79.0 FrankTemp-Templeton ewHoriz 40 +.14 +14.
Archstnsm 52.02 +45 Comerica 63.38 +19 © GlaxoSKIn 53.93 +75 — Manulifgs 36.34 +18 —PrinFncl_ ~—«61.32' 24 ~—=«‘USSteel~=—«106.69 -2.67 NewPerspA m34.54 +241 Fan am 14,80 4,04 423.1 SmCpStk 37.10 +.23 +15.9
t 59.91 -17 CmcBNJ 44 +.18 GlobalSFe 67.50 -1.03 s UtdTech 69.21 +.29 NwWrldA m 54.66 +.12 +38.9 apa ‘
Assuran . . CVRD 452 ‘56 GoldFLtd Marathon 116.32 +.25 ProctGam 63.00 -.27 ( SmCpWIdA m44'58 +.22 +299 ForEqls 29.46 +.07 +35.0 SmCpVal 45.08 +.23 +17.2
Astrazen 53.54 —-.02 s “6 711-24 Marinths 45.19 +45 ~—ProgrssEn 51.94 © -.4o-~—=«UtdUtils «30.55 +.22 PWIdA m%4.08 +.22 +23.9 GrowthA m 27.38 +.04+23.2 Value 29.74 +.02 +25.1
AustNZ 122.02 -101 CVRDpfs 3721-46 = Golderpg_ 23.31. 63 MarshM 31.46 ««-01_—séprogsvCp «23.23 +18.~—=«CUtdhith@p 5389 +.39 WAMutInvA m37.71 05 +237 Growth Ad 27.43 +.04+23.4 Thied Avenue
Autodesk 4553 +40 cOmpsBc 69.63.12 GoldmanS 230.71 +148 warchils 49.45 10 ~—protogig. +6380 «+90:«UNumGrp ~=—«27.30 02 Artisan WorldA m 20.91 4.044236 \a, gag 4.01 419.8
AutoData 49,08 +17 «compSci 57.74 +.68 Goodrich 58.82 -52 © MartMM 151.92 +615 : i : VF Cp 92.32 +1.08 Intl 31.54 +.07+26.6 Franklin Templeton ae eeiket
; . Conk 535 + ° : P Prudent! 102.72 -.45 . / parea Tweedy Browne
AutoZone 132.11 -1.88 gra 17 Goodyear 34.33, 19 MarvellTsif 16.30 -.07 PrudUK 30.54 «= -.2—‘<‘é‘ieOE «= 75,75 -.03 FndAllA m 14.83 +.02 +23.4
AvalonBay 118.75 +141 ConocPhil 75.85 -01 Google = 475.86 +5.26 Masco 30.12 +09 Bee 9119 65 VedliaEnv 82.45 +.04 “Growth b 53.48 +41 +154 Harbor GlobVal 34.57 +.03 +29.3
Avaya 13.88 ConsolEs 46.62 +.06 — Graingr 8582 +42 MasterCdn 13873 -78 Pubstr a5.05 +44 Verisign 27.10 -29 Bernstein CapApinst 35.33 +.07 +15.1 Van Kampen
AveryD 64.16 +42 «©: ConEd 50.70 -30 GrantPrde 57.04 -83 = Matsush 2066. +37 caRlige ayy gp Verizoncm 4261 +.07 TxMintl 28.65 +.05 425.2 Intlinstl 69.14 +.20+33.7. ComstockA 20.58... +217
Avnet 42.56 -42 —ConstellEn 94.55 --22 § GpoSimec 13.68 47 “Mattel «= 29.05 +35 ult 5093 WiacomB.= 43.97 +122 ~—_BlackRock Hartford EqincomeA m 9.64 -.01 +18.1
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: : ‘ : 5 . i. ‘ A , : 0 34, “4 CapAprA m 40.96 -.09 +20.6 rd
BASF 122.81 +34 Corning 24.61 +.09 HDFC Bk 82.81 +.86 McDermis 74.03 +.20 stDia 48,30 “43 VirgnMdah 26.26 -.39 - Vangual
BB&T Cp 42.57 +33 Costco 55.95 +.18 HSBC 92.50 -.27 McDnids 52.50 +,23 2 ; ; Vodafone 28.75 -.10 Calamos SPADES «ane ae +232 500 140.67 -.09 +22.9
BCE gn 35.70 34 Cntwdfn 40.78 += +.29 Hallibtns 36.30 -.41 Ncerwil ae ee i Questar 106.00 +2.20 Volvo s 087 +33 GrowA m 59,38 +.35 +131 DVGrHLSIA 24.99 -.05+26.6 cogaqm! 140,69 -,09 +23.0
" 2 ; : ; Bert tea." ta : ; ‘ i 69 -.09 +23,
BGcrp «7850 «+95 +«—«COventryH «60.01 +18 - Hanson 10631 +40 ickesson 6271-23 Rethean shay. gg Vornado «11483. +1.73 ean sre AssetA 30.92 -.02 +22.0
P esson “ 5 Raytheon 54.32 +.02 AcornZ 33.19 +.17+22.0 IntrAmerS 30.48 -.04 +24.0
BHPBilILt 50.75 -.84 CredSuiss 75.17 +07 = HarleyD =» 63.49 +.61 = MeadWvco 33.34 «+.37 ~—ReedElsNV 39.35 -14.-=Ss WulcanM=—117.47 +164 pga Janus EmerMktid m27.35 +.03 +36.6
BHPBil plc 47.60 --86 CrwnCstle 35.87 44 Harman 118.50 Medimun 57.35 +14 d . : WPP Gp 75.07 +.18 EmaMktVal 39.18 + Contrari 19.92 +.06 +405 Energy 73.24 -.50 +25.4
: Cumminss 8756 -28 HarrahE 85.53 +.08 39 +EE ReedEls ple. 53.03 -.25 ; : CET ee een eee gratea: Europelax: <4027 014954
BJ Svcs 30.21 -.57 : MedcoHlth 77.29 +.09 -RegionsFn 35.98 30 ©«C- Wachovia «56.25.40 IntiSmCap 23.79 +.05+32.4 Growinc 41.92 -.02 +17.3
BMCSft 3145 -.09 -DUIADiam 135.16 = -.04 = HarrisCorp, 49.53 +.04 = Medtrnic «50.80 +.23~—sRelianten ©2732 +«-0g.-~«S WalMart = 46.54 -.08—IntValu 26.10 +.04+36.5 anus 31.19 -.04+22.4 Explr 82.97 +.41 +17.3
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BT Grp 62.67 +2.09 DTE 54.20 +.47 HithCrPr =: 31.81 +.42 Merck 54.15 +36 RschMotn 159.06 +706 WA Mutl 44,08 +1.12 ussmVal 32.01 +.23+19.6 Overseas 52.61 +.12+46.2 GNMA 10.15 -.01 +64
BakrHu -82.21:«.28.-~=—«éaimmlr 87.85 +.65 HealthNet 58.06 +33 © Merrilllyn 94.01 +18 —ReutrGrp 74.81 +«-22.-~=S«wWsteMinc_ «39.06 +15 + DWS-Scudder INN Ee Seeger un. a ke
BcBilVArg 25.01 —-.09 Danaher 71.61 = +.26 Heinz 46.44 -.60 MetLife 68.85 +35 ReynAm s 66.27 “Ad Weathfdint 55.81 -.86 DremHRtEA m54,05 ... +22.2. John Hancock GIbEq 25.75 +.03 +30.4
BcBradess 2537-35 Danone 31.58 -19 — HellnTel 15.17 +.03 Metso 54.04 -.22 alee 79.54 +2 . WellPoint 84.59 +16 Davis ClsscValA m 29.92 +.03+22.6 Growthldx 32.19... +19.3
Bncoltau 45.45 —-.62 Darden 45.44 = -.23 Hershey 52.29 +.28 Microchp 10.38 -07 RioTint 280.06 : “WellsFgos 36.00 -.31 NYVentA m 41.64 +.02 +225 LifBal b 15.18 +.01+17.7 HitCrAdml 66.11 +.04 +21.4
BcoSnCH 18.34 -.01 Dassault 59.08 +.93 Hertz n 20.97 -.01 MicronT 11.38 -07 os oa t 2 1.99 WstnuUn n 21.62 14 NYVentC m 40.06 +.03 +21.6 LifGrl b 15.84 +.02 +19.7 HithCare 156.60 +.08 +21.3
BcSanChile 49.39 -1.87 Deere . 117.80 = -1.01 Hess s 59.31 -1.28 Microsoft 30.69 36 Bec i. o +.04 Westpac 110.09 -.90 NYVenty 42.15 +.03 +22.8 Julius Baer Instidx 139.63 -.09 +23.0
BkofAm = 51.50 -+.27 ee 99.30 +142 HewlettP 45.58 +36 = Milleas «38.70 +23 Rogcm gs ite o Weyerh = 80.35 =.12 Be Sas Intea #815 Ot 336 Nee tered i ees
Bkirelnd 89.66 -.20 - _ Dell inc 26.38 +44 Hilton +; ill ; e : i Whrlpl 113.13 -.35 a 51 +07 +169 IN fog ‘2 InstTBdld 50.04 -.09 +6.5
BkMonta 6344. 419 DeutschBk 15692 +24 yj 34.26 +26 — Millicomint 85.95 -.37 — RoHaas 53.48.47 tlp 23 income 1264 01 +7.0 Legg Mason instTStPl 33.27 +.02 +23.0
jontg 63. ; Deattel «thas nag (titachi = 71.63, +105 Mirant 47.17 -76 Rostele 5563-63. «=< WmsCos_) 31.37 +31 ntistk 48.55 +.15 +283 Valuelnst 87.18 +.244219 41,
ay Dev boa? egg HomeDp = 3853-10 MitsuUF) 11.45 +.55 —RoyalBkg 55.51 +49 Williscp_ 4.66 42 Stock = 164.80 +.27 4222 ValuePr b 78.10 +.21 +20.7 intival as
BkNovag 49.57 14D vl . 7 Honda 34.06 -31 = Mitsui. ~=— 393.80 +11.80 —RylCarh = 42.96. +75 ~~ Windstrm = 15.00 +.07— Excelsior Longleaf Partners ak SO rlbiee
Barclay 56.6839 Hap 7 Honwilint! 56.98 -132 MizuhoFn 13.76 +99 —RoyDShIIB_ 75.95 -.66 Wipro 16.26 -~19 —ValRestrA 59.62 +.01+26.1 LongPart 37.92 +.16 +21.7 Beer 17.31 -01 +143
Bard 83.80 +89 —Jlageo 64 +60 HostHotls 23.77 -+.22 © MobileTel 54.15 -.50 —-RoyDShIIA 74.52 -.32 +-Wolseleys 26.53 +.60 Fidelity Loomis Sayles ifeGro 25.74 $217
Barrick 29.55 «72, «la ffs = 92.25 192 HuanPwr = 43.49 -56 = Mohawk = 97.26 +144 —Ryanairs 41.38 «© -10 © Woorifn «73.10 89 AstMgr50. 16.95 ~01 +14. Bondl 14.77 034129 LifeMod = 21.65 -01 +18.1
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Sl a 05 AurResources 2888 -12 Crystallexo 5.38 +20 HudBayMnrls 23.10 +.10 TalismanEgy 21.79 -.08 Goldcorpinc 25.33 -.57 Overseas «49.79 +.09+27.8 TotRetls 10.28 -.02 +54 Wadsr 2019 +.01 +24.0
ST RCNTRSY 43.70 ap romsonCorp 46.76 119 BreakwaterRes 240-01 BarrickGold 32.04 -50 Manulifefin 3949-15 KCPIncomUn 10.02 +.02 SEM: cc GaN EAL oe, WndsrAdml 68.15 +.02 +241
Pon PetroCanada 55.31 +1.01 EnergyMetiso 18.42 +1.77 VictoryNklo -—«81.«+.11_~—=«~DenisonMines 14,90 02 HighRiver 2.70 +01 ShTmBond 884 -01 +49 eal M 52.25 -.10422.6 Wndsrit 38.45. ~.01 +26.7
Menai as oe Fille 245 CGIGrpASV =—:11.37_ +.37 ImperialOil 52.25 +2.26 DomtarCorp 11.60 +.80 PaladinOrdo 8.08 +.15 USBdindx = 10.82 -.02 +64 GrowincA m 21.69... +22.7. Western Asset
: ; skyEngy 89.24 BombdrBSV 4.77 -.06 _UTSEngyCorp 5.35 +.02 BkMontreal 6888 -21 BCEInc 38.75 +.03 Value 90.78 +.06 +257 RiverSource CrPIBding 10.47 -.02 +8.3

-1.04



INTERNATIONAL EDITION WEDNESDAY, MAY 23,2007 4B _











+



THE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 5B



Stores: Price and

size concern over
egos made in
the Bahamas

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

Ithough many

Bahamian

food stores are

willing to stock

locally-pro-
duced eggs on their shelves,
some yesterday said price and
size were contributing factors
as to why customers may
choose to purchase foreign egg
products instead.

This comes after a leading
supplier of locally produced
eggs, New Providence-based
Sunshine Farms, announced it
was set to close its doors at the
end of June 2007 with the loss
of 18 jobs and $2 million in per
annum revenues.

Chris Lowe, the farm’s rep-
resentative, said it was a com-
bination of “everything” that
led to the decision to close.

“It is a shame that a busi-
ness that has been around for
52-and-a-half years is going to
have to close its doors, but no
one in the Bahamas cares
about agriculture,” he told Tri-
bune Business on Monday.

Although some grocers, such
as the Meat Max and Grocery
Store, rely solely on Sunshine
to stock their shelves, others
admit they sell a combination
of Bahamian and foreign egg
products to satisfy customer

demand.
Brad Albury, manager of the
Meat Max, told The Tribune

yesterday that the store only .

carries Sunshine eggs, and had
been supporting the company
for quite some time.

“We don’t carry other eggs,
and I do not know what we
will do now that the farm is
closing,” he added.

An employee at Abaco Mar-
kets’ Cost Right store told The
Tribune that the store gets the
bulk of its egg supply from
Grand Bahama. However, he
noted that in some cases,
Bahamians prefer to purchase
foreign eggs because they feel
they are larger.

Similarly, another large store
indicated that while they do



The Tribune wants to
hear from people who
are making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. If so, call us on
322-1986 and share

your story.

Share your news

carry Bahamian eggs, they also
provide alternative products
such as organic eggs and
American eggs.

“Our customers say that
price and size is why they pre-
fer US eggs,” said an employ-
ee.
It was felt that a major factor
behind Sunshine Farms’ clo-
sure has been the flood of
imported eggs into the
Bahamian market, with other
poultry farmers alleging that
some food stores preferred to
stock on their shelves the for-
eign eggs because, as imports,
they were able to get around
price controls. In turn, they
could be sold to consumers at
higher prices, generating bigger
margins for the food retailers.












DELTEC BANK & TRUST LIMITED

Responsibilities will include (but are not limited to):

Invites applications for the position of

COMPLIANCE MANAGER

Maintaining and developing a robust compliance and control regime in Deltec to

ensure compliance with all relevant laws, regu
policies and procedures

lations, guidelines and internal

Developing, administering and implementing a stringent compliance program that
monitors and reports on key risk indicators
Implementing a comprehensive self-testing program that is derived from risk

assessment

Reviewing KYC documentation for all new and existing clients
Advising and assisting with the training of staff in regulatory and internal policy

compliance requirements

Reporting to Executive Management, Board of Directors and Group Compliance
Ability to work independently and under pressure to meet deadlines

The successful candidate should have the following qualifications:

Mccann

For delivery of the leading Bahamian

newspaper, call The Tribune’s

Circulation Department at 502-2383
or visit our offices on Shirley Street

to sign up today!

3 months (13 weeks) $ 45.95
6 months (26 weeks) $ 84.95
1 year (52 weeks) $ 160.00

CREDIT SUISSE.

‘Home delivery of The Tribune
is convenient and gives me a
head start on my day. The
Tribune is y newspaper.”

HAROLD ANTOR
INSURANCE EXECUTIVE

The Tribune
My Voice. My Howspaper!



Credit Suisse Wealth Management Limited

is presently considering applications for an

OPERATIONS MANAGER

Credit Suisse Private Banking is one of

the world's premier private banks. It is setting new standards

which go beyond traditional banking services. Our dedicated and highly qualified staff provides our clien-
tele with comprehensive solutions in individual investment counseling and advisory services. Our total
commitment is always to our clients and we focus without compromise on their financial well-being and

their personal values.



Requirements:

A minimum of five (5) years experience in banking with a large international institution

Knowledge of trading, trade reconciliation, custody business and securities markets with particu-
lar emphasis on emerging market derivative instruments

Ability to speak and write in Portuguese fluently in order to converse with clients directly and

process documentation internally

Deep knowledge and working experience with Microsoft products {including access, excel, etc.)

Must have working knowledge of GLOBUS application °

Must be familiar with EUROCLEAR procedures and have deep knowledge of EUCLID applica-

tion.

Significant experience in an extremely active and dynamic operational environment

Comprehensive knowledge of operational and information technology principles, practices and

A thorough knowledge of all applicable legislation, regulations and guidelines
Minimum Bachelors degree in banking or finance along with either CPA, ABIFS
(formerly ACIB), or International Diploma in Anti Money Laundering and
Compliance (BACO)

Legal background would be an advantage

Minimum 3-5 years relevant experience in the Compliance field

Excellent written, oral and presentation skills

processes Sufficient to interpret/analyze complex issues and develop innovative solutions to the
challenges effecting the business unit

Strong problem solving and decision-making skills
Strong interpersonal, oral and written communications skills

Possess a confident and outgoing personality

‘ ; Key Duties & Responsibilities will include:
Salary will be commensurate with experience.
Co-ordinate day-to-day operations functions of the main office

Interested persons may submit resumes as follows: Oversee various Management functions; particularly the Payment, Settlement and Safe custody
areas

Human Resources Manager
Deltec Bank & Trust Limited
P.O. Box N.3229
Nassau, Bahamas

Risk Management and liaise with managers to ensure maintenance of standards

Applications should be faxed to:
Human Resources Department
R M ' IN ae ees Fax: 302-6398
esumes may also be faxed c/o 362-4623 or emailed to anh@deltechank.com.
DEADLINE FOR RECEIPT OF APPLICATIONS IS MAY 25, 2007
ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED





-



PAGE 6B, WEDNESDAY, MAY 23, 2007

» RoyalStar

p Assurance

PRICEWATERHOUSE(COPERS [@

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of RoyalStar Assurance Ltd.

We have audited the accompanying financial staternents of RoyalStar Assurance Limited (the Company), which comprise
the balance sheet as of 31 December 2006, and the income statement, statement of changes in equity and cash flow
statement for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with
International Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error: selecting and applying appropriate accounting policies; and making
accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in
accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from
material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditors’ judgement, including the asséssment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making, those risk assessments, the
auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal contro!. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating
the overall presentation of the financial statements.

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

Opinion

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the
Company as of 31 December 2006, and its financial performance and its cash flows for the year then ended in accordance
with International Financial Reporting Standards. :

[nemakedonattgbir-

Chartered Accountants
Nassau, Bahamas
17. April 2007

RoyalStar Assurance Ltd. (incorporated under the laws of the Commenwealth ef The Bahamas)

®
;RoyalStar BALANCE SHEET
» Assurance AS OF 31 DECEMBER 2006 :

Amounts expressed in Bahamian dollars






ASSETS
Cash in hand and at bank (Note 3) s 3,950,975 5,000,559.
Term deposits (Note 3) 22,547,943 16,926,364
Due from agents (Note 4) 18,026,957 16,496,576
Due from reinsurers 420,103 §37,915
Sundry receivables, prepayments and other assets . -127,360.° 2 436,041
Investments in securities - fair value through profit or loss (Note 5) EES eA BD 22,996,413
- loans and receivables (Note 5) 1,839,332 8 4,848,343 =
Property, plant and equipment (Note 6). 1,589,070 4,374,740
TOTAL ASSETS ESTP ree
LIABILITIES
General insurance funds :
Unearned premiums reserve 9,342,618 9,535,811
Outstanding claims reserve (Note 7) 7,145,505 5,643,348
Deferred commission reserve 3,280,523 ~ 2,769,118

: 19,768,646 47,948,277 —
Other liabilities: :
Due to reinsurers 4,471,990 3,564,526

Sundry payables and accruals 694,341 520,959
Cash advance from reinsurers (Note 7) 4,900,003 1,860,059

TOTAL LIABILITIES



EQUITY

Share capital:

Authorized, issued and fully paid:- 10,000,000 ordinary shares of $9.30 each 3,000,000 3,000,000
Authorized, issued and fully paid:- 500,000 preferred shares of $10.00 each (Note 8) 5,000,000 : © 5,000,000
Contributed surplus 7,000,000 7,000,000
Retained earnings 10,023,942 5,623,130



TOTAL EQUITY

TOTAL LIABILITES AND EQUITY

SIGNED AS C
APPROVED
ON BEHALF Director

OF THE BOARD:



ee FOLIA

Date: 17 April 2007



INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2006

Amounts éxi



in Bahamian dollars





» INCOME
Premiums written (Note 9) S$ 73,634,020 63,797,414
Premiums ceded to reinsurers (45,890,977) (34,381,096)
Net premiums written 27,743,043 29,416,318
Change in unearned premiums reserve (Mots | 193,193 “ (78,329)

Net premiums earned



EXPENSES

Net claims incurred (Note 7) 5,413,483 7,195,790

Net commissions incurred (Note 11) 7,586 O67 2.976,395

Catastrophe and excess of loss reinsurance 13,000 512 14,267,038
19,973,062 24,439,223

Underwriting gain



OTHER INCOME
Interest, dividends and other income







1,031,251 952,383
Net realized gain on investments in securities (Note 5) 68,965 i
Net change in unrealized gains/losses on investments in securities (Note 5) 760,862 767,412
Total other income 1,861,078 1,749,795
OTHER OPERATING EXPENSES
Personnel expenses (Note 12)
General and administrative expenses 2,387,347 1,248,486
Depreciation and amortization (Note 6) 1 419.617 1,431,575
Directors’ fees "176,076 "252,584
65,400 66,600
Total other operating expenses 4,048,440 3,499,245

Net income




















































STATEMENT OF CHANGES IN EQUITY (a)
FOR THE YEAR ENDED 31 DECEMBER 2006
Amounts expressed in Bahamian dollars
Ordinary Preference | Contributed Retained
ETC 3 Series Surplus Earnings Total
Preference shares issued : - 5,000,000 = (100,000) 4,900,000
Net income : ey t & = 3,119,316 3,119,316
‘Dividends - preference shares ee re (231,789) (231,789)
Net Income B o ee 5,775,812 5,775,812
Dividends ~ preference shares = ies = (375,000) (375,000)
“Dividends - ordinary shares. e & = (4,000,000) 2 (4,000,000)
Dividends per preference share: $0.75 (2005: $0.46) (e)
Dividends per ordinary share: $0.10 (2005: $Nil)
CASH FLOW STATEMENT Amounts expressed in Bahamian dollars
FOR THE YEAR ENDED 31 DECEMBER 2006
(f)
CASH FLOWS FROM OPERATING ACTIVITIES ee
Net income $.. 5,775,812... 3,119,316
Adjustments for: § See
Depreciation 176,076 252,584
Interest and dividend income -{991,653) = (726,126)
Net realized gain on investments in securities > (68,965) se
Net change in unrealized gains/losses on investments in securities (760,862) (767,412)
4,130,408 (1,878,362)
(Increase) Decrease in current assets: : :
Term deposits , (4,601,802) 958,019
Due from agents (1,530,381) © (3,037,725)
Due from reinsurers qA7;BI2 0 94525227
Sundry receivables, prepayments and other assets 8,681 “4 705)
Increase (Decrease) in current liabilities: : oe
Unearned premiums reserve (193,193) 78,329 «
Outstanding claims reserve 4,502,157: 429,600 —
Deferred commission reserve 591,405-: “4,086,203
Due to reinsurers 907,464 4,266,515
Sundry payables and accruals 173,382 176,934
Cash advance from reinsurers 39,944 {29,213,461}
Net cash from (used in) operating activities : 4,065,877. ; : (g)
CASH FLOWS FROM INVESTING ACTIVITIES SESS SESSSe85
Interest and dividends received $84,079 752,236
Purchase of investments in securities (960,978) 44,271,338)
Proceeds from sale/maturity of investments in securities “238,236 100,000
Purchases of property, plant and equipment (390,406) (39,090)
Net cash used in investing activities Be rlricc)) econ Ey):
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of preference shares = 4,900,000
Payment of dividends on preferred shares . (375,000) (231,789)
Payment of dividends on ordinary shares (1,000,000) i
Net cash from (used in) financing activities » (1,375,000) 4,668,211
Net increase (decrease) in cash and cash equivalents : (537,392) (19,716,683)
Cash and cash equivalents as of beginning of year 49,510,172 39,226,855 (h)
Cash and cash equivalents as of end of year (Note 3) sé 48,972,780 5 49,510,172.
The accompanying notes are an integral part o
(i)
By
B
* RoyalStar
» Assurance ,
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2006
1. Incorporation and Principal Activity
RoyalStar Assurance Limited (the Company) is incorporated under the Companies Act, 1992 of the i)
Commonwealth of The Bahamas and is licensed to operate as a property and casualty insurance
company in The Bahamas under the Insurance Act, 1969. The Company is also licensed to operate
in the same capacity in the Cayman Islands; the Turks and Caicos Islands; and the British Virgin
Islands under the Insurance (Amendments) Law, 2003; the Insurance Regulations, 1990; and the (k)
Insurance Act, 1994 and Insurance Regulations, 1995, respectively. .
The Company's registered office is situated at the offices of Messrs. McKinney, Bancroft & Hughes,
Mareva House, 4 George Street, Nassau, Bahamas. ‘
2. Summary of Significant Accounting Policies
The principal accounting policies adopted in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented, unless otherwise
stated.
(a) Basis of preparation 10)

The Company’s financial statements have been prepared under the historical cost
convention, except as disclosed in the accounting policies below, and in accordance with
International Financial Reporting Standards (IFRS).

The application of amendments to published accounting standards and interpretations that 3.

became effective 1 January 2006 did not result in substantial changes to the Company's
accounting policies. With the exception of the amendments to IAS 1 Presentation of

Financial Statements regarding capital disclosures, that become effective 1 January 2007,
the application of new standards and interpretations issued but not yet effective will not
have a material impact on the Company's financial statements in the period of initial

application.

The preparation of financial statements in conformity with IFRS requires management to



Financial assets

The Company has classified its financie
receivables (due from agents and reins -

‘corporate bonds and preference share

or loss (investments in equity securitie
financial assets at initial recognition-a.

Non-derivative financial assets with fix

an active market are classified as‘loans

for an indefinite period of time, which

changes in interest rates, exchange fat
fair value through profit or loss.

Regular-way purchases and salés.of fin
is the date that the Company commits,
initially recognized at fair value plusotr.
value through profit or loss where trar
assets are derecognized when.the righ
where they have been transferred and
risk and rewards of ownership.

Financial assets at fair value through pr
based on quoted prices for quotediinue

“arm's length transactions and discounte

Realized and unrealized gains and losse
these investments are recognized in the

Loans and receivables are carried at.am:
any provision for impairment.

Impairment of financial assets

The Company assesses at each balances
a financial asset or group of financial as
financial assets is impaired and impairm
objective evidence of impairment as a-te
initial recognition of the asset (a lass ev
on the estimated future cash flaws of th
can be reliably estimated.

If there is objective evidence that anim)
incurred, the amount of the loss is rneas
amount and the present value of estime
that have not been incurred) discountec
rate. The carrying amount of*the assetii
and the amount of the loss is recognize:
amount of loss on financial assets at fai)
difference between the asset's carrying

cash flows discounted at the current'me

Property, plant and equipment

- Property, plant and equipment;-are carr

and amortization, except land, whichis
tures that are directly attributable toth

Subsequent costs are included in the as:
separate asset, as appropriate, only whe
associated with the item will flow to th
measured reliably. Repairs and mainte:
the financial period in which they arecir

Depreciation is calculated using the-sthe
over estimated useful lives, which range

Assets that are subject to amortization
changes in circumstances indicate that
asset's carrying amount is written, dowr
carrying amount is greater than ‘its' esti
amount is the higher of the asset's fair

Gains and losses on disposals are deter.
amount and are recognized in the.inco

General insurance funds

General insurance funds comprise uneé
which includes claims incurred but not
Unearned premiums represent the pro
to periods of insurance coverage subse
adjusted by the commission rates appl
representing deferred acquisition costs

Deferred commission reserve represent
ceded, which relate to periods of insur

Liabiliti%s for unpaid claims are astimat
cases reported to the Company and-sta
and to estimate the expected ultimate
external factors (such as court cases). T
unpaid claims other than for disability

Leases

Leases, where a significant portion ofit
the lessor, are classified as operating le
charged to the income statement onia

Revenue recognition

Premiums are recognized as revenue ov
allowing for premiums ceded. Commis:
and commission income received on pre
as premiums.

The Company's net share of claims and
based on the estimated liability for con
damaged by policyholders. They includ
arise from events that have occurred ur
or not they have been reported

Interest income and expense for all inte
using the effective interest rate methoc
the accrual basis, except for commissior
contracts, and dividend income, which
or obligation to make, payment hasbe

Premium tax

Premium tax is incurred at a rate of 3%
of The Bahamas. Premium tax is charge

Employee benefits

The Company has a defined contributio
by the Company pays contributions to <
has no further payment obligations onc
requires participants to contribute 5% «
10% of basic salary

The Company's contributions to the:def
income statement in the year‘to which

Corresponding figures



Where necessary, corresponding S
presentation adopted in the current ye



Cash and Cash Equivalents

Cash in hand and at bank

Term deposits

Less: accrued interest included in term deposits

make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities as of the date of the financial statements
and the reported amounts of income and expenses during the reporting period. Actual

results could differ from those estimates.

(b) Foreign currency translation

Less: term deposits with original contractual
maturities of rore than 90 days

Interest rates on term deposits range from 4.00

The financial statements are presented in Bahamian dollars which is the Company’s

functional and presentation currency. Foreign currency transactions are translated into
the functional currency using the exchange rate prevailing at the time of the transactions

Foreign exchange gains and losses resulting from settlement of such transactions and from

translation of monetary assets and liabilities at
the income statement.

(c) Cash and cash equivalents

year end exchange rates are recognized in

4. Due from Agents

Receivable from agents

Less: Provisions for doubtful debts

For the purposes of the cash flow statement, cash and cash equivalents comprise cash in
hand and at bank and term deposits with original contractual maturities of three (3)

months or less

There was no movement in the provision for dc





THE TRIBUNE BUSINESS

etrinto’ the following categories: loans and

s, and:investments in government bonds,

d financial assets at fair value through profit
lanagement determines the classification of its
-evaluates this at each reporting date.

»rideterminable payments that are not quoted in
1 receivables. Investments intended to be held

y'be sold in response to the needs for liquidity or
'r equity prices are classified as financial assets at

ial assets are recognized on the trade date, which
surchase or sell the asset. Financial assets are
action costs, except for financial assets at fair
tions costs are expensed as incurred. Financial

9 receive cash flows frorn them have expired or

3 Company has also transferred substantially all

it on loss are subsequently carried at fair value
ments or valuation techniques, including recent
cash flow analysis, for unquoted securities.

arising from sales and changes in fair value of
ncome statement in the period in which they arise.

rtized cost using the effective yield method, less

yeetdate whether there is objective evidence that
sets is impaired. A financial asset or a group of

2nt losses are incurred if, and only if, there is

‘sult of one or more events that occurred after the
2nt) and:that loss event (or events) has an impact
@ financial asset or group of financial assets that

dairmenit.loss on loans and receivables has been
ured as the difference between the asset's carrying
ted future cash flows (excluding future credit losses
vat the financials asset's original effective interest
seduced through the use of an allowance account
{in the yncome statement. By comparison, the
value through profit or loss is measured as the
amount.and the present value of estimated future
rket rate of interest for a similar financial asset.

ed athistorical cost less accumulated depreciation
rot depreciated. Historical cost includes expendi-
» acquisition of the items.

at’s carrying amount or are recognized as a

mit is probable that future economic benefits
‘Company and the cost of the item can be
ancevare charged to the income statement during
curred. + +

ght-line method to allocate cost to residual values
-from three (3) to ten (10) years.

re.reviewed for impairment whenever events or
je.carryiag amount may not be recoverable. An
immediately to its recoverable amount if the asset's
‘ated recoverable amount. The recoverable

alue less costs to sell and value in use.

ined by.comparing proceeds with the carrying
estatement.

ed premiums reserve, outstanding claims reserve,
ported, and deferred commission reserve.

rtion of the net written premiums, which relate
ent to the balance sheet date. This amount is
dle to the line of insurance business written
sociated with unearned premiums.

hesportion of commissions earned on premiums
ce coverage subsequent to the balance sheet date.

! usingsthe input of assessments for individual
stical analyses for clairns incurred but not reported,
ost’ of more complex claims that may be affected by
e Company does not discount its liabilities for

aims. ‘6 >

’

x risks and rewards of ownership are retained by
es. Payments made under operating leases are
raight+line basis over the period of the lease.

‘nthe periods covered by the related policies after
an expense incurred on gross written premiums
miums ceded are recognized in the same manner

dss:adjustment expenses are recognized as incurred
densationiowed to policyholders or third parties
«direct and indirect claims settlement costs and

to the balance sheet date regardless of whether

rest-bearing financial instruments are recognized

! Other revenues and expenses are recognized on
‘income and expenses from facultative reinsurance
re recognized when the Company's right to receive,
n established.

oftgross premiums written in the Commonwealth
1 separately to policyholders.

1 pension plan for its Bahamian employees, where
ptivately administered pension plan. The Company
2 the contributions have been paid. The plan

f théir basic salary and the Company contributes



ned contribution pension plan are charged to the
heyrelate.

mted to conform with changes in





s 3,550,975, 5,000,559

22,547,943 16,926,364

© (185,047) (77,462)

(6,941,091) (2,339,289)
_19/510,172



% to.5.75% (2005: 0.10% to 5.25%).



17,146,576
(650,000)

S 18,676,957
(650,000)



vubtful debts during 2006 and 2005.





5. Investments in Securities 8.
Securities at fair value through profit or loss

Securities at fair value through profit or loss principally comprise marketable equity securities that
are listed on The Bahamas International Securities Exchange, and are stated at fair value.
Movements during the year are as follow:



ae
As of beginning of year $ 2,196,413 1,407,663 9.
Additions 910,178 21,338
Disposals (179,236) ~
Net realized gain 68,965 =
760,862 767,412.

Net change in unrealized gains/losses (see Note 12)



As of end of year



As of 31 December 2006, the cost of securities at fair value through profit or loss totalled
$2,151,920 (2005: $1,352,013).

































10.
Loans and receivables
Loans and receivables are carried at amortized cost and comprise
The Government of The Bahamas ee 5
Bridge Authority bonds Prime + 1.00% 24/03/2014 $ 1,218 $4219
Prime + 1.50% 24/03/2024 52,050 $2,059
Prime + 1.63% 24/03/2029 23,695 _ 23,699
Prime + 1.25% 24/03/2029 13,817 13,819
Sunshine Holdings Limited
corporate bonds Prime + 0.50% 27/06/2009 253,750 253,750
Prime + 0.50% 28/07/2009 253,750 253,750 1.
Sunshine Partners Limited :
preference shares Prime + 2.00% 31/12/2010 941,000 1,000,000
Consolidated Water (Bahamas) Limited
corporate bonds Prime + 2.00% 21/06/2015 250,052 250,047
Caribbean Crossing Limited :
Series B preference shares Prime + 1.50% 30/06/2016 50,000 =
Total loans and receivables
Included in amortized costs are amounts totalling $9,032 (2005: $9,043) representing accrued
interest.
6. Property, Plant and Equipment .
12.
Cost:
As of 1 January 2006 2,417,930 279,365 463,455 4,125,163
Additions 343,906 - - 390,406
As of 31 December 2006
Accumulated depreciation/
Amortization: :
As of 1 January 2006 = 2,010,339 276,629 463,455, 2,750,423
Charge for the year _ 173,340 2,736 ~ 176,076
As of 31 December 2006 $ Ce
Net book value as of
31 December 2006 $
Net book value as of
31 December 2005
\
13.
7. Outstanding Claims Reserve and Net Claims Incurred
Outstanding Claims reserve camprise:
Gross provision of claims S$ 21,240,106 41,062,385
Less: Recoverable from reinsurers (14,754,601) (35,999,037) 14,
Net provision for reported claims . 6,485,505 5,063,348
Provision for incurred but not reported claims 660,000. 580,000 ©
,
As of 31 December 2006, the Company held $1,900,003 (2005: $1,860,059) in cash advances
received from reinsurers to settle claims still being processed.
Net claims incurred comprise:
Gross claims incurred (1,836,989) 59,703,134
Less: Recoverable from reinsurers 7,250,472 (52,507,344)
15.
Insurance claims other than catastrophe - Gross
a
Estimate of ultimate
claims cost at end :
of accident year $ 10,017,286 8,559,248 6,489,208 9,267,218 5,888,286 40,221,246
Current estimate of.
cumulative clainy 10,677,311 8,400,734 6,788,020 11,834,284 5,888,286 43,588,635
Cumulative payments”
to date (9,961,841) (7,498,874) (5,587,856) (7,435,125) (3,546,211) (34,029,907)
e é éé
Liability recognized
in balance sheet
Liability in respect of prior years 3,438,446
Provision for claims incurred but not reported 660,000
Total liability included in balance sheet
Insurance claims other than catastrophe - Net
Tue LCs oF
Estimate of ultimate
claims cost at end
of accident year $ 8,408,762 5,154,592 4,737,697 5,739,628 4,265,850 28,306,529
Current estimate of
cumulative claim 8,977,597 5,260,006 5,129,560 6,366,070 4,265,850 29,999,083
Cumulative payments .
to date (8,725,965) (4,762,136) (4,324,058) (4,414.41) (2 443,54/) (24,669,947)
16.

Liability recognized
in balance sheet



Liability in respect of prior years

Provision for claims incurred but not reported 660,000



Total liability included in balance sheet

WEDNESDAY, MAY 23, 2007 PAGE 7B |



Preference Shares

The preference shares outstanding are variable rate cumulative redeemable A preference shares
with a par value of $10 per share. The preference shares are redeemable solely at the option of |
the Company and the declaration of dividends is at the discretion of the directors of the Company.
The dividend rate is Bahamian dollar Prime rate plus 2.00% payable semi-annually, and any
dividends undeclared are cumulative and payable before any distribution to ordinary shareholders.

Premiums Written




Gross premiums written




Less: Premium tax collected on behalf of
the Government of The Bahamas



227,20

Cow hyA RY}

(1,438,094)
s ECeten

Change in Unearned Premium Reserve

The amounts reported in the income statement comprise:

Balance as of beginning of year

Less: Balance as of end of year

Change in unearned premium reserve

Net Commission Incurred

Amounts paid to agents

Less: Amounts recovered from reinsurers

Movement of deferred commission



Net commission incurred

S Pern ys BAS Ae he)

Related Party Balances and Transactions

Related parties comprise significant shareholders, directors, key management personnel and
entities in which these parties have control or significant influence. The Company’s primary
shareholder is SunStar Ensure Limited, which owns 52% of the Company's outstanding shares
and is owned equally by Sunshine Holdings Limited and Star General Holdings Limited. The
financial statements include the following balance and transactions with related parties:

Balances



Due from agents

Investments in securities

Transactions _
Premiums written

Net commissions incurred (Amounts paid to agents)



Personnel expenses 1,022,566 :
During 2006, the directors of the Company remeasured an investment in an unlisted related party.

The fair value was determined based on the price of the most recent rights issue of the related
party, and resulted in an unrealized gain of $689,675 (2005: $612,500).

' Retirement Benefits

The Company's pension plan is administered by Colinalmperial Insurance Limited. The amount
recognized in the income statement in personnel expenses in the current year totalled $85,773
(2005: $77,734).

The total number of staff employed by the Company as of 31 December 2006 was 25 (2005: 24).

Commitments and Contingent Liabilities
Commitments

The future minimum rental payments required under operating leases as of 31 December

are as follows:

Not later than 1 year $s 36,495

Contingent liabilities

The Company is a defendant in several legal actions involving claims. Management believes that
the resolution of these matters will not have a material impact on the Company's financial state
ments and adequate provision has been made in outstanding claims reserve.

Financial Risk Management

The Company engages in transactions that expose it to insurance risk, credit risk, liquidity risk
and interest-rate risk in the normal course of business. The Company’s financial performance is
affected by its capacity to understand and effectively manage these risks, and its challenge is not
only to measure and monitor these risks but also to manage them as profit opportunities.

(a) Insurance risk

Insurance risk is the risk under insurance contracts that the insured event occurs and the
amount of the resulting claim is uncertain. In the normal course of business, the Company
seeks to limit its exposure to losses that may rise from any single occurrence. Reinsurance is
primarily placed using a combination of proportional, facultative and excess of loss treaties.
Obtaining reinsurance does not, however, relieve the Company of its primary obligations to
the policyholders, therefore the Company is exposed to the risk that the reinsurers may be
unable to fulfil their obligations under the contracts. The Company seeks to mitigate this
risk by placing its reinsurance coverage with large multi-national companies and syndicates. |

(b) Credit risk

Credit risk arises from the potential failure of a counterparty to perform according to the
terms of the contract. The Company's exposure to credit risk includes the majority of its
assets. To mitigate this risk, the Company places cash with credit-worthy banks; monitors
the payment history of its agents before continuing to do business with them; places
reinsurance coverage as noted in (a) above; and invests in debt securities of financially
sound companies.

(c) Liquidity risk

The objective of liquidity management is to ensure the availability of sufficient funds

to honour all of the Company’s financial commitments including claims. The Company

maintains a level of liquid assets, which mature or could be sold immediately to meet cash

requirements for normal operating purposes.

(d) Interest-rate risk

Fair value interest-rate risk for the Company is the risk that the value of financial assets
may fluctuate significantly as a result of changes in market interest rates. The Company
mitigates this risk by investing in interest-bearing assets with floating interest rates that
frequently reset to market interest rates, or investing for short time periods.

Fair Values of Financial Instruments

Financial instruments utilized by the Company are limited to the recorded financial assets and
liabilities included in the balance sheet. Carrying amounts of all financial instruments are :
considered to approximate fair value given their short-term nature, except those disclosed in
Note 5, which have interest rates that frequently reset to market interest rates.





PAGE 8B, WEDNESDAY, MAY



a

FROM page 1

(ILO) Convention 87 as soon as pos-
siblé, to bring the Bahamas into line

23, 2007

The convention establishes the right
of all workers to form and join organ-
isations of their own choosing without
prior organisation, and lays down a
series of guarantees for the free func-
tioning of organisations without inter-
ference by public authorities. The
adoption of the convention is seen as

absolutely essential for the labour
movement by some trade unionists
in the country.

This would be a continuation of
the plans the Ingraham administra-
tion left in place when it demitted
office in 2002.

Mr Foulkes comments came after a

press conference yesterday to
announce a partnership with the Port
of Palm Beach, seeking to strengthen
ties between the city and the
Bahamas.

“The Port of Palm Beach will be
organising meetings with the
Bahamas Maritime Authority to meet

t

THE TRIBUNE“:

overnment to review all the labour laws

with the ship owners to use their port, °
and as for those that are not regis-,
tered on the Bahamas ship registry *
and carry the Bahamian flag, we will
try to get them to become part of our
registry. And we are going to do that
with other ports around the world,” ,
Mr Foulkes said.

with ILO standards.

Legal Notice

NOTICE

DELLABARDO INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on the
10th day of January 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.

’
5
'

u

6

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

WAP ENGINEERING LTD.

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

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

_ NOTICE

. STRONSAY S.A.

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

“ARGOSA CORP. INC.
(Liquidator)



t

Bist

Pricing Information As Of: 4



Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
- Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard
- Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson

12.25 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)
; 0.20 RND Holdi



14.00 Bahamas Supermarkets
0.35 RND Holdings

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund
Fidelity Prime Incom
re

1.339101*
3.1827***
2.662852**



es

“MARKET TERMS
S2wk-Hi - Highest closing price In last 52 weeks

S2wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for dally volume

K: CLOSE 791.62 / VIG 66.67% / 2006 34.4.
YIELD - last 12 month dividends divided by c!
Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price

Legal Notice

NOTICE |

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

EVE INVESTMENTS LIMITED
In Voluntary Liquidation

“Notice is hereby given that in accordance with Section 137 (4) of the
International Business Companies Act (No. 45 of 2000), EVE
INVESTMENTS LIMITED is in Dissolution.”

The date of commencement of dissolution is the 8th day of January, 2007.

Epsilon Management Ltd.
Level 2, Nia Mall
Vaea Street,

Apia, Samoa
Liquidator



Legal Notice

NOTICE

CXI HOLDINGS LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act

2000, the dissolution of CKI HOLDINGS LTD. has been |

completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator) 4



Legal Notice:

NOTICE

MULTIGO VICTORY LID.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of MULTIGO VICTORY LTD. has been

completed; a Certificate of Dissolution has been issued and |

the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)





Last Price Weekly Vol.



NAV KEY

*-4 May 2007









Legal Notice

NOTICE |

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

ATLANTIC BLOODSTOCK LIMITED
In Voluntary Liquidation

“Notice is hereby given that in accordance with Section 137 (4) of the
International Business Companies Act (No. 45 of 2000), ATLANTIC

BLOODSTOCK LIMITED is in Dissolution.”

The date of commencement of dissolution is the 2nd day of May, 2007.

Robert P. Surcouf pes

Harbour Reach
Rue De Carteret
St. Helier, Jersey,
Channel Islands

Liquidator

Progressive International Architectural and
Engineering Firm seeks young

ENGINEER/ARCHIT

CIE
Qualifications
Professional Qualification is Engineering/Architecture
Locally and /or Internationally Licensed
Familiarity and Basic knowledge of Bahamas Building Code
Strong Computer Literacy (i.e. AutoCAD)

G LRequi ts/R ibilitie
Dynamic, energetic and highly motivated

Team-Player with ability to work with minimal supervision
Study architectural and engineering drawings and specification
Exceptional interpersonal skills, organizational and
administrative skills

A competitive compensation package offered commensurate
with qualification and experience. Send Fax: (242) 327-8126 or
e-mail to forbes. vanessa@ gmail.com

Legal Notice ee ;

NOTICE |

UKRAINIAN NEW EUROPE
OPPORTUNITY FUND LIMITED

(In Voluntary Liquidation)

Notice is hereby given in accordance with Section 137
(4) of the International Business Companies, 2000,
Ukrainian New Europe Opportunity Fund Limited has
been dissolved and struck off the Register according to
the Certificate of Dissolution issued by the. Registrar
General.

Dated the Seventeenth day of May 17, 2007

Craig A. Gomez
Liquidator

f‘eeueese w= 8

A well established Media Company is }-}+:+:
looking for a hard working male J-:-:-
to work as a Pressroom Assistant. }‘+1+:

Qualified applicants should be able

to work nights between the hours of | =

8p.m. to 5am. and be prepared to Jv
submit job references and clean police [/-:+;
record.

Interested persons should
send resume to:

c/o DA 18973P

P.O. Box N-3207
: or

Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daity Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month eamings

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

+ tea Fax: 328-2398 au

*** ~ 30 April 2007

**** 30 April 2007



sseee - 30 April 2007





“HE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 9B





Banks: Bahamas
has ‘best tourism
growth potential’

FROM page 1

'

While the financial indus-
try’s view of the Bahamas’
tourism potential will be seen
as a,positive, it does not deal
with the major challenges the
industry faces.

For instance, cruise arrivals
and spending per passenger
have been falling, with
Bahamian-owned businesses
in Nassau and Freeport largely
picking up the ‘scraps’ from
the sector as the cruise lines
are ifcreasingly using their pri-
vate islands as either their first
or only ports of call in the
Bahamas.

Many of the projects
unveiled under the former
Christie administration, while
having billion and multi-mil-
lion dollar headline valuations
on them, are heavily reliant on
‘land speculation’ and real
estate pre-sales for thejr
financing. .

While attractive to financial
lenders, as these mixed-use
resorts reduce the developers’
risk and capital outlay through
real estate sales, it means the
total economic value of these
projects to the Bahamian econ-
omy'and people is often heav-
ily over-inflated. Much of the
legal and real estate work is
also done by overseas realtors
and attorneys.

Neko Grant, minister of
tourism, said his Ministry was
also' concerned that the
Bahamas was “pricing itself
out of the market” as a result

'

The Tribune wants to hear
from people who are
| making news in their
neighbourhoods. Perhaps
you are raising funds for a
-good cause, campaigning
for improvements in the
area or have won an
award,
If so, call us on 322-1986
and share your story.

of the relatively high room
rates its resorts charged to cov-
er operating costs, hinting that
this nation needed to develop
more mid-market options.

In turn, the high room rates
and cost of a Bahamian vaca-
tion mean that visitors expect -
and will want to receive - a
‘five star’ experience that
exceeds their expectations and
gives value for money. At the
moment, arguably, only Kerzn-
er International’s Atlantis and
One & Only Ocean Club prop-
erties do so, leaving many oth-
er Bahamian hoteliers strug-
gling to generate a consistent
annual net profit.

Other concerns lie in the fact
that $0.85 of every tourist $1
spent in the Bahamas is then
spent outside of this nation on
foods and other products need-
ed by hotels, meaning that only
a small fraction or $0.15 is
retained and circulates in the
Bahamian economy - a conse-
quence, perhaps, of this
nation’s reliance on the five-
star resort model.

Then there is the fact that
the Bahamian tourism industry
has not developed much
beyond a hotel sector, and
there is a clear need to expose
visitors to more Bahamian cul-
ture and heritage.

Meanwhile, the KPMG sur-
vey found that 10 per cent of
the banks surveyed were “very
positive” about the
Caribbean’s tourism outlook
in 2007, with almost another
70 per cent “positive”. Just 20
per cent were “negative”.

Mr Townend said the opti-
mism was largely generated by

the relative weakness of the
US$, making the region more
attractive for European visi-
tors; US interest rate stability,
the Caribbean’s proximity to
the US and “reliable and
affordable airlift”.

He said: “The results of the
annual KPMG banking survey
once again support the posi-
tive outlook for tourism
growth in the region. With the
financial commitment of more
than US$2.6 billion in the
Caribbean, lenders are send-
ing a clear message to devel-
opers that, with the right fun-
damentals, they are willing to
continue to finance multi-mil-
lion dollar projects in the
region.”

_ Mr Townend added: “While
the Cricket World Cup did not
necessarily yield the short-term
financial benefits originally

anticipated, it is felt that there ~

will be a very positive long-
term benefit directly associated
with the significant increase in
international exposure of the
region, and the improved infra-
structure of the participating
islands.”

He said there was a new
influx of capital from private
equity and mezzanine lenders,
particularly to larger projects,
attracted by the proven
resilience of the Caribbean
tourism product and the
prospects of strong yields rela-
tive to home markets.

Mr Townend said: “There
was, however, some caution
and reservation expressed by
the banks; the flattening of the
US housing market is on the
radar screen for lenders, but it

NOTICE

NOTICE is hereby given that HENRY EDMOND of MARSH
HARBOUR, P.O. BOX AB-20488, 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 16th day of
May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE is hereby given that CHRISTENN DEZONIE ELLORINE
SAMUDA DAVIS OF MCLEAN’S TOWN, P.O. BOX F-3526,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
‘the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
23RD day of May, 2007 to the Minister responsible for Nationality

and Citizenship,

P.O.Box N-7147,

Freeport, Bahamas.

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a

was suggested that this would
not have a major impact on the
short to mid-term prospects for
the region.

“While there are a number
of high-end condo-hotel devel-
opments underway in the
region, banks are expressing

some caution in this sector. .

The banks also want to see
projects that represent sus-
tainable tourism initiatives.”

The survey found that the
premium to the base lending
rate (LIBOR most commonly
used) ranges from 2 per cent to
4 per cent in 2007. Similarly
debt service coverage ratio
requirements were in the 1x to
2.5x range.

Banks surveyed said condo-
hotels, mixed-use properties,
disposable income levels in the
US and the growth of the
yachting business and yacht
ownership were key opportu-
nities for the Caribbean.

But they added that quality
of service, a lack of skilled
labour, reliance on the US
economy, crime and seasonal-
ity of the tourism product to
be key weaknesses. There was
also some concern over the
fact that the condo-hotel prod-
uct was still untested in terms
of litigation, but banks were
generally more comfortable
with the product.

The softening of the US
housing market, hurricanes,
terrorism, labour shortages, the
increased preference for cruis-
ing, the re-emergence of Mex-
ico, the increased cost of debt
and the opening of the Cuban
market were all noted as
potential threats.





NOTICE

NOTICE is hereby given that NDUBUISI AKAZIE OF
LOT 1 SPINNEY ROAD, YESMONWOOD, P.O. BOX 43669,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for ~
registration/naturalization as a citizen of The Bahamas, and |
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
16TH day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas. *

rear (Melati

is looking for

Sales Persons

with knowledge of the Marine Industry.
Must be self driven.
Please fax resume to: 394-3885

NOTICE

NOTICE is hereby given that GIANCARLO MAZZONI OF
DEBDON DRIVE, P.O. BOX F-40091, FREEPORT, GRAND .
BAHAMA, BAHAMAS, is applying to the Minister responsible °

for Nationality and Citizenship, for registration/naturalization

as a citizen of The Bahamas, and that any person who .h7
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 16TH day

of May, 2007 to the Minister responsible for Nationality

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







tapas?







TTY
waaay

Tale
aa








NOTICE

NOTICE is hereby given that LICIA LINA VALE MAZZONI
OF DEBDON DRIVE, P.O. BOX F-40091, FREEPORT,
GRAND BAHAMA, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/ naturalization
should not be’ granted, should send a written and signed
statement of the facts within twenty-eight days from the 16TH
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
















NOTICE is hereby given that ENDLEY HONORA OF }|°”
PINDER’S POINT, FREEPORT, GRAND BAHAMA, +#°:
BAHAMAS, is applying to the Minister responsible for ¢}.j:
Nationality and Citizenship, for registration/naturalization |...

as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should pP'

not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 16TH day
of May, 2007 to the Minister eae for Nationality

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

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Baker's Bay

GOLF G OCEAN CLUB

Great Guana Cay, Abaco
The Bahamas

Employment Opportunity

STAFF ACCOUNTANT

The successful candidate will meet the following requirements:

Qualifications
B.A. in Accounting
Experience in club or resort development

Key R ibilit
¢ Accounts payable
Cash management
Job cost entries
Preparation of accounting reports
General ledger reconciliation
Journal entries

The successful candidate will have the opportunity to work in a
growing and dynamic organization fo be a self-starter, team player,
work at the highest standards of performance, and meet deadlines.

if you are progressive and prepared to advance your career, submit
your resume to the attention of:

Director of HR & Training

sbowe@bakersbayclub.com
Or by fax at 242-367-0804



PAGE 10B, WEDNESDAY, MAY 23, 2007

Crem LEI

THE TRIBUNE

ere O tie a
distribution deal

FROM page 1

warehouse at the Sea/Air Busi-
ness Centre was about 75-80
per cent complete, and the
86,542 square foot facility was
“tentatively” expected to be
complete by August 31.

“The roof’s on. We’re doing
work internally in the offices.
We'll be done by mid-August,”
Mr Deffler said. He added that
International Distributors had
not started recruiting Bahami-
an staff for the project, a

start by next month or early
July at latest, but it was expect-
ed to employ some 200 peo-
ple.

“Our thought process is that
this Freeport operation, in a
very short period of time, will
surpass our distribution out of
Florida,” Mr Deffler said.

He added that the Sea/Air
Business Centre facility had
generated “a great deal of

interest”, not just for Associ- °

ated Grocers but a number of
other US-based food whole-
salers, cooperatives and buy-
ing groups.

International Distributors is
planning Phase II and Phase

III expansions at its 20-acre
site Grand Bahama site, both
due to involve 200,000 square
feet of warehouse space.

Mr Deffler said “the archi-
tect is working on it as we
speak” in reference to the
design and plan for the second
phase warehouse.

“Obviously, Freeport is the
key,” Mr Deffler said of Inter-
national Distributors and
Associated Grocers’ plans.

“Mostly everything will be.

coming in here, and then will
be funnelled out of Freeport
to different countries apart
from the Bahamas.
“Although we are working



on it, we don’t at this point. _
have a business licence to dis-,. -

tribute in the Bahamas from

Freeport, although we can do it® .”
from Miami.” %

The Tribune understands
that pressure from some major
Nassau-based wholesale agen-
cies was responsible for the ini-

tial stipulation that the Grand ,-
Bahama facility could not *

directly supply Bahamians.
They are understood to have
feared that the arrangement

would disrupt the established. . .
supply chain in the Bahamas, ¢ |
and could allow ordinary peo- ; *
ple and ‘mom and pop’ stores - |

to purchase their goods direct ~

ey

process that was expected to
= from International Distribu-,

tors. at}

However, the latter’s pro-.

duce will be boxed, shipped’ |
and stored in a secure, sterile | 4.
warehouse area in Freeport . ; -
that cahnot be accessed by the, | ~
public. International Distribu- ©
tors deals only with bulk’. _, .
orders, making it impossible “, ”
for ordinary people to effect \ ‘
purchases, especially if mini-, _.,
mum orders and the produc- ., .,.
tion of a business licence is} }-}
required. a’ af}

International Distributors’, | ,'.
will be exporting wholesale
food products and services to , |
clients in 46 countries from its
Freeport facilities.

It was attracted to Freeport’s ©
transhipment/logistics/distrib-. _ ,
ution potential because ofits: | ,

- tax-free status, and the fact it: | ,
was the only port in the West- |”
ern Hemisphere large enough | _ °
to take the post-Panamax | |
ships. In addition, the total
cost of lifting one container off :
a ship in Freeport is just $60,- — -
compared to the $400, for
instance, charged in Long, .

_ Beach, California.

International Distributors »*.
has a lot of non-US customers, * ,*
and found that importing pro- -“!
duce from China and other
markets to its US distribution
facilities for're-export to other
markets was “knocking the .-) |
price up” as a result of having -}- |
to pay US import duties. -

Therefore, the Bahamas +%.
facility will be used to receive -* ¢*
product from other markets*s*;
that is due to be exported to .*.*
regions such as Latin and*.°
South America, and provide .", |
customers with better prices
that they can pass on to con-
sumers.

CLOSED FOR STOCKTAKING

Nassau Motor Company’s

Parts Department

will be closed for stocktaking...

MAY 2007 JUNE 2007





NOTICE

The Broadcasting Corporation of The Bahamas is
seeking a suitably qualified company to provide
Aif-conditioning Maintenance Services for its three (3)
plants located in New Providence.











Interested parties should contact Mrs. Sharnett ee enue Core ergte

Ferguson, Executive Assistant to The General
Manager at 242-502-3945, between the hours of
9a.m.- 5p.m., Monday to Friday to collect a copy of the
Tender documents, ‘from our headquarters located on
Harcourt (Rusty) Bethel Drive, formerly 3rd Terrace,
Centreville, Nassau.

We will be closed from 5:00pm
Tuesday, May 29 through
Saturday, June 2. ©
We will re-open on Monday, June 4.

9

We regret any inconvenience
to our valued customers.
Bids must be returned in a sealed envelope to
Mrs. Ferguson No Later Than Thursday, May 31, 2007.

'
s

ee



e

NASSAU MOTOR COLTD

Shirley Street ¢ 356-7932

partsorder@nassaumotor.com ¢ www. nassaumotor.com

NOTICE

The payment of Long-Term Benefits and Assistances in New Providence
for May 2007 will be made at the Board’s Fox Hill, Wulff Road and
Jumbey Village Local Offices beginning ay, May 24, 2007.
Cheques may be collected from these offices between the hours of
9:00am and 4:00pm.

eH ne

- 4 7

Pensioners and/or their representatives are required to produce proper
identification in order to collect their cheques.

Acceptable forms of identification for Pensioners are the National
Insurance Registration Card, together with any one of the following:

1. A Passport;

2. A Voter’s Card; or

3. Any other document which establishes, conclusively, the identity
of the claimant.

Where the Pensioner is sending a Representative to collect his/her
cheque, the Representative should present an Authorization Form,
completed by the Pensioner, or a letter from the Pensioner authorizing
the Board to release his/her cheque. Additionally, the Representative
should present any one of the above-listed items to identify
himself/herself. Cheques will not be released to representatives who
fail to provide satisfactory identifying documents.

Tel: 502 2356h

for ad rates eS w/o we

Please Note: Pensioners born in June and December are now due
for Verification. Failure to be verified on-time, will result in the suspension
of payments.





HE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 11B



Foreign price
competition
hits bottled

water suppliers

FROM page 1

industry’s sales volumes, mar-
gins and employment levels. It
was difficult for the smaller-
sized Bahamian products to
get shelf space in many food
stores, too.

He added that he hoped the
Bahamian industry would
- come together to meet with
‘the new FNM government,

outline its concerns, and talk

about “bringing in new regu-

lations and looking at how we
. can compete”.

“We’re not selling the small
packs in the quantities we
should be, even though the
.. quality of our product is on par
with theirs,” Mr Knowles said.
He added that the 12 ounce,
20 ounce, 16.9 ounce and 1.5
. ounce bottles was where the
competition with imported for-
eign water was fiercest.

Another water industry
source, who requested
anonymity, said some foreign
bottled water was imported
duty free, helping to “flood the
market”, driving down prices
and sales volumes for Bahami-
an producers.

“You’ve got a whole flood
of it,” the source said. “At the
end of the day, it is not a level
playing field” for Bahamian
bottled water producers.

The source explained that
foreign bottled water produc-
ers faced a much lower oper-
ating cost base than their
Bahamian counterparts, with
electricity costs about “one
third per kilowatt hour what it
is in the Bahamas”.

Bahamian water producers
also had to import all their raw
materials, and were faced with
having to pay freight and, in
some cases, import and stamp
duties as well.

The source also highlighted
the discrepancies between US
and Bahamian regulation of
food and drink products. Any
such products being exported
from the Bahamas to the US
had to be inspected, tested and
approved by the Food and
Drug Administration (FDA),
but such goods coming the oth-
er way into the Bahamas did
not have to undergo any test-
ing or inspection.

To supply the likes of the
US Embassy and cruise ships,
Bahamian bottled water com-
panies would have to have
their plant inspected and prod-

uct tested to ensure they met
the required standard, under-
going a full Sanitation Audit,
but there was no such require-
ment for bottled water imports
coming into the Bahamas. ,

“We don’t have the regula-
tions or the enforcement capa-
bility,” the source said. “This
has been going on for years
and years.”

The absence of health and
safety testing and inspections
on bottled water imports has
raised concerns about the
Bahamas being used as a
potential ‘dumping ground’ for
low-priced, poor quality prod-
uct that floods the market and
puts local producers out of
business.

Dumping concerns in the
Bahamian context have been
raised most frequently in the
context of chicken leg imports,

. and anti-dumping regulations

are a key part of any trade
regime.

Mr Knowles said he had
seen no evidence to suggest
that the Bahamas was being
used as a ‘dumping ground’ for
low quality imports, but added
that tests his company had
done showed their water was
of a better quality than some
imported bottles.

Cyt Cr) a
Office Closure





To our Valued
Customers

Please be advised that all our offices in Nassau will be closed
on Friday, May 25th 2007 between the hours of 9:00am-1:00pm
for the Company's annual Awards Ceremony. Our offices in Freeport,
Exuma & Abaco will be closed for the entire day.

We apologize for
any inconvenience

caused

British
M"tAmerican

FLRAN CGAL

Nassau 242-461-1000 Freeport 242-352-7209 Exuma 242-336-3035

Abaco 242-367-5601
www. babfinancial .com

“Financial Solutions for Life!”





Oe Ca eBay eee
the #1 newspaper in circulation,
just call 322-1986 today!

Wt

Sheraton
Cable Beach



Sheraton will create a 700 room hotel with meeting space at Baha Mar.
The hotel will feature easy access to shopping, gaming and the beach

Director of Rooms

The new, soon-to-be open, Sheraton Cable Beach Resort, Nassau,
The Bahamas is looking for a Director of Rooms. This is a
highly visible position within the hotel’s. management team.

The qualified candidate must possess at least 6 years hotel experience
in Front Office, Housekeeping and Guest Services with a minimum
4 years of management level experience in these areas. The major
areas of responsibility and management will include: Front Office,
Guest Services, Housekeeping, Security, Gift Shop, Health Club,
Recreation and Tennis. This position is responsible for short and long .
term planning and day-to-day operations of the above listed areas.

The ideal candidate must be highly skilled in budget and expense
management, recruitment, training, customer service and has
a superior ability to supervise, motivate and develop staff. The
potential candidate should have excellent working knowledge of
Hotel Property management systems, Opera and must be a detailed
oriented team player, possess strong organizational skills, computer
literate (Excel a must), and possess excellent written, oral and
interpersonal skills. A Bachelor’s degree or equivalent is required.

=o 4

All qualified applicants should forward a copy of their resume~ to
the Director of Human Resources at bbarnes@radissonbahamas.com
or forward to fax #327-3037. All resumes will be held in the strictest
of confidence.

£2

“id 22,

>



g :

n
=4 (0)

THE BAHAMAS STATE ASSOCIATION .
1.B.P.0, ELKS OF THE WORLD




(IE

51ST ANNUAL STATE CONVENTION »*
MAY 23 - 28, 2007








an

CURFEW ELKS CENTRE
HOSPITAL LANE NORTH
NASSAU, N.P., BAHAMAS _



Ts
we
ek




Theme: ELKS A VANGUARD FOR THE
ENCHANCEMENT OF ITS MEMBERS

Tuesday, May 23rd




7:30 p.m. Official Opening Session
Guest Speaker: Mr. Lester Cox





Thursday, May 24th




6:30 p.m. Civil Liberties Department Programme
Guest Speaker: Mr. Jamal Davis, Attorney At Law



8:00 p.m. Health Department Programme
Guest Speaker: Dr. Sandra Dean - Patterson




Friday. May 25th







7:30 p.m. Fez Department Pagent of Progress















9:30 p.m. FAMILY ISLAND NITE AT THE FISH FRY ‘ :
Fish Fry, Arawak Cay Cc
Saturday, May 26th a
aM
7:30am. Chaplain’s Department Prayer Breakfast ‘ 7 hoi
Rev. Clayton W. Hanna, State Chaplain . Sy,
y Pp. NS bn
3:00 p.m. THE DORIS FRITZGERALD - NELLIE KNOWLES - BERNICE tri
ENEAS NATIONAL PARADE
}
Assemble at Christie Park, Nassau Street, parade moves south on Nassau Street, east ||".
on Ponciana Drive, north on Blue Hill Road, ending at Eureka Elks Home. :
The Annual Thelma P. Lockheart Pagent sponsored by The Beauty & Talent Depart-
ment
Is
Sunday, May 27th 1c
ns
9:00 p.m. The Devine Worship and Service of Sacred Memory 4
Speaker: Bishop Delton Fernander, New Destiny Baptist Church oe
Selection by the New Destiny Church’s Choir Lied
cad
2:00 pm. The Annual Youth Jamboree & Talent Extravaganza ft
5:00 p.m The Temple Queens Contest and Glamorous Hats Parade
8:00 p.m. The Education Department Oratorical Programme & Contest hi
or
Monday, May 28th "

12:00 noon Joint Closing & Presentations

Presidents’ Down Home Luncheon














PAGE 12B, WEDNESDAY, MAY 23, 2007

THE TRIBUNE






For the stories
behind the news,
Mr AIC

on Mondays

JOB OPPORTUNITY
HUMAN RESOURCES MANAGER

The Public Utilities Commission (PUC) was established by the Public Utilities Commission
Act 1993, as amended in 1999 to regulate controlled public utilities. It is currently
mandated to regulate the telecommunications sector. The PUC is inviting suitably
qualified persons to apply for the position of Human Resources Manager. This person
will be responsible for all aspects of human resources and will report to the Executive
Director.

Principal duties and responsibilities of the position

These will include:

¢ Develop and recommend Human Resources Management (HRM) strategies, policies
and practices that promote employee commitment, team building, competence,
motivation and performance and that facilitate the achievement of the PUC’s
business objectives.
Staff recruitment and administration of workforce planning and employment
activities.
Develop and facilitate processes for effective labour/management relations and -
agreements.
Administer compensation, benefits, and recognition and performance management
systems.
Manage the training and development programmes and collaborate with management
in conducting needs analysis, coordinating plans, preparing manuals, and monitoring
and evaluating training.
Facilitate employee commitment to a culture which embraces the core values of
the organization and foster &4n understanding of and commitment to diversity.
Develop and Maintain the Human Resource Information Systems

‘Qualifications and Experience

The successful candidate will be an experienced leader with:
A minimum of a university degree in Human Resources Management, Business
Administration, Education or one of the social sciences from a leading university.
A clear understanding of basic management functions and experience in management
and supervision.
A minimum of 10 years of progressively responsible experience as human resources
manager in a unionized organization of around 40 persons.
Professional Certification (PHR, SPHR, CHRP), an asset.
Good knowledge of legislation affecting employee rights and other employee
related laws, immigration and copyright laws.
Excellent oral and written communication skills
Proficiency in Microsoft Office Applications particularly word, excel and power
point.

As amember of the PUC team, the successful candidate will benefit from a comprehensive
~ benefits package and excellent opportunities for continued development. Starting salary
will be commensurate with relevant experience.

Interested applicants should deliver or submit their resumes to the PUC by 6 June,
2007 to:

Executive Director, Public Utilities Commission
4th Terrace East, Collins Avenue
Fax No. (242) 323-7288

E-mail: PUC @pucbahamas.gov.bs



EPA talks hit

@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas

Chamber of

Commerce’s

executive director

yesterday urged
Bahamian businesses to rapid-
ly provide feedback on their
concerns and issues over the
Economic Partnership Agree-
ment (EPA) talks with the
European Union, warning that
this nation was now at
“crunch” time given that the
deadline for the agreement’s
implementation was still Janu-
ary 1, 2008.

Philip Simon told The Tri-
bune: “The feedback has been
slower than expected, and that
might be due to persons not
quite understanding what the
EPA is all about, and the
potential impact it can have on
their business.”

He added that the Chamber
was likely to seek completion
of the surveys issued by itself
and the Bahamas Financial
Services Board (BFSB) to their
respective communities and
forums and working sessions
they were due to stage on the
EPA in the near future.

“No deadline has been
changed to our knowledge, and
the EPA is still due to come
into effect from January 1,
2008,” Mr Simon said,
although areas that the
Bahamas had secured reserva-
tions on might not be impact-
ed.

“We're still in a crunch as

’ regards deadline and timing.

It’s important that we continue
to keep ourselves engaged in
the. process, even if the
Bahamas’ participation is not
clear from a private or public
perspective.

“We're still in the process of
determining the EPA’s impact
on current and future indus-
try, and that’s why we need to
get feedback.”

The EPA is intended to
come into being on January 1,
2008, replacing the Cotonou
Agreement which currently
governs trade between the EU
and the Bahamas and 76 other
nations who are members of
the African, Caribbean and

_ Pacific (ACP) groups.

Through the, EPA, the
Bahamas will be exposed for
the first time to a two-way
trading relationship or reci-
procity, where this nation will
have to allow EU companies
and imports the same benefits

iu Business community
urged to respond as

‘crunch’



®
@ PHILIP SIMON

as European countries provide
to this nation's exporters,
chiefly Bacardi rum, crawfish
and seafoods, and Polymers
International.

A briefing paper prepared
for the Christie Cabinet's sub-
committee on trade by the
Ministry of Foreign Affairs,
which then had responsibility
for international trade, warned
that the Bahamas would lose
“its favourable $20 million
trade balance" with the EU if

-it failed to sign the EPA, while

hundreds of jobs would be
jeopardised if Bacardi and
Polymers International shut
their respective operations due
to their exports becoming
uncompetitive.

If the Bahamas lost its duty-

free preferences by remaining
outside the EPA, the Bacardi,
Polymers International and sea
food products would all see
their prices increase and
become uncompetitive.

if Bacardi's exports were
submitted to a $5 per gallon
customs tax by the EU, they
would become uncompetitive,
a situation the: company has
warned would cause it to shift
production elsewhere and
close its Bahamian plant, cost-
ing at a minimum more than
$13 million in excise taxes and
180 Bahamian jobs.

The Ministry of Foreign
Affairs document said: "An
additional cost of $5 per gal-
lon would make the Bahami-
an-produced rum uncompeti-
tive, and would likely cause
Bacardi to shift its production
to either Puerto Rico or Mex-
ico, where the MFN tariffs are
not applicable.”

ON THE CAMPUS OF THE

Just over $35 million worth

of sea food products wetfe . .

exported to the EU from the’

Bahamas in 2004, and loss of
duty-free access would lead fo
a 12.5 per cent tariff being
imposed.

Referring to Anthony Mok.
inney, head of Paradise Fish-
eries, the Ministry of Foreign

. Affairs briefing note said this

would raise the price of

Bahamian lobster by $2-$2.50°-’

per pound, making it uncom-
petitive.

The loss to the Bahambs
would be the value of the lob-
ster exported, and the income
loss of the Bahamian fisher-
men who catch the lobster, as

~ well as $649,259 in royaltiés.

“It is possible that alternative
markets for the lobster would
be found, but there would be
no guarantee that the pri¢e
obtained would be as good as
the European Union prices,"
the Ministry's analysis read.‘
Polymers is understood to
export about $7 million per
year, or $500,000 worth of
goods per month, to the EU:'
The Ministry of Foreign
Affairs document said: “The

document read: "The MEN |
tariff on polymers range from ~ |

7- 12 per cent, and the pringi-
pals of Freeport polymers have
indicated that if they lose th¢ir
duty-free entry into the EU

market, it would not be prof- *
‘itable for them to continue

their operation in Freeport.:
"The loss to the Bahamas, if
Polymers were to leave, would
be the loss of 83 Bahamian
jobs in addition to negatively

impacting the activities of 10 -¢

Bahamian contractors, who
supply services to Polymers, as
well as the loss of approxi-
mately 10 per cent of Freeport
Power's revenue, since Poly-
mers uses approximately 10
per cent of the electricity gen-
erated by Freeport Power."
Jobs at the Freeport Con-
tainer Port and Grand
Bahama-based trucking com-
panies might also be impacted

if Polymers lost its EU busi-.

ness.

The Bahamas exported
$66.315 million worth of goods
to the EU in 2004, and import-
ed $42.93 million, and has
already made one decision - to
protect its exporters and
favourable $20 million trade
balance by signing up to the
CARIFORUM offer, and
trade-off the loss of $10-$14
million in taxes imposed on
EU goods per annum.

COLLEGE OF THE BAHAMAS
(JUST OFF TUCKER ROAD)

TO THE COLLEGE STUDENTS AND THE GENERAL PUBLIC

MONDAY
FRIDAY

PHIONE:



a
323-0609 A 322-7294

THURSDAY 74.M.
SATURDAY 7A.M.
SUNDAY - CLOSED

KA >< .

9 P.M.

10 P.M.

< a 4s BL Ode





Full Text





THEY'RE BACK
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Revelation on
talk show raises
serious election
questions

@ By BRENT DEAN
Tribune Siaff Reporter

A YOUNG man has publicly
alleged that he has voted twice,
and is in possession of several
voters cards, yet he is not a
Bahamian citizen. -

The young man made these
statements on the More FM
radio talk-show Real Talk Live
with Jeffrey Lloyd yesterday,
bringing into question the
integrity of the Bahamian elec-
toral process.

The 29-year-old man, simply
identified as Charlo, said that
he was born in the Bahamas to
a Bahamian father and a
Jamaican mother who had per-
manent residence, but they
were unmarried.

As a result, Charlo did not
automatically receive citizen-
ship. He said he had applied
through the department of
immigration for citizenship, but,
after 12 years, he is still wait-
ing for a final reply.

Charlo claims he voted both
in 1997 and 2002, and the only
reason he didn’t vote in the
most recent election was
because he was upset that nei-
ther party addressed a national
immigration policy, which
leaves thousands of people in
the Bahamas stateless — espe-
cially in the cases of those of
Haitian ancestry.

“The FNM government,.and
the PLP government, I voted
for the two of them, but appar-

ently, no-one looks like they
interested in sorting this issue
out. So, I just decided to stay
home,” he said.

When asked by Mr Lloyd
how he was able to register the
first time, without showing a

- proof of citizenship, Charlo said

that he was accompanying an
employer, who was getting reg-
istered at the time — presum-
ably in 1997 — when the employ-
er suggested he register, too.

According to Charlo, the staff
member of the parliamentary
registration department asked
him if-he was Bahamian, to
which he replied, “yes”.

He further claims that he
merely showed school identifi-
cation, rather than proof of cit-
izenship, and was able to com-
plete the registration process.

Parliamentary registrar, Errol
Bethel, said he could not com-
ment specifically on the case,
as he has no report, or infor-
mation, on the allegation.

But Mr Bethel assured the
public that first-time voters are
required to show proof of citi-
zenship in order to register to
vote.

Mr Bethel added that he has
not received formal complaints
that non-citizens have, or are,
voting.

If these allegations are true,
then the question arises as to
how many of the thousands of
stateless Haitians are illegally
registering and voting in
Bahamian elections.

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@ MOTORISTS had to slow down in the Montagu Beach area as flood waters forced them into one lane — a problem which sential

to be recurring across the island

@ By ALISON LOWE
Tribune Staff Reporter

IT would not be “fair” -to say
that there is a significant flood-
ing problem in New Providence,
a chief engineer at the Ministry
of Works said yesterday.

However, engineer Howard
Barrett explained that tide lev-
els and intensity of rain — both

outside the ministry’s control
— have an impact on how
quickly water can drain off after
rain falls in New Providence.

And despite his reluctance to
admit to the existence of a
flooding problem, he revealed
that there is a ministry study
underway.

“In terms of capital develop-
ment there is a study which is

(Photo:Felipé Major/Tribune staff)

now ongoing that we are look-
ing at and coming out of that
that will drive the nature of the
development that will take
place,” he said.

He could not say when the
study began or when it is likely
to conclude.

Mr Barrett said that the min-
istry is involved in a continuous
effort to maintain the drainage

system, and this wiil be stepped

up in the lead up to the hurri-
cane season.

Previously, Public Works
Director Melanie Roach has
been reticent about the issue of
flooding in New Providence.

Ms Roach has denied that
there is a serious problem, and

SEE page 10

Rigby defends $80m of
contracts signed by PLP

@ By PAUL TURNQUEST
Tribune Staff Reporter

PLP national chairman Ray-
nard Rigby defended his par-
ty’s awarding of $80 million
worth of contracts in the run-up
to the May 2 general election,
stating that there was nothing
“illegal or improper” about the
issuance of any of them.

Mr Rigby warned the FNM
that they would be setting a
“dangerous precedent” by sus~
pending or cancelling any of
the contracts.

These remarks came as a
direct response to those of
FNM Senator Johnley Fergu-
son, who revealed to the press
yesterday the alarming figures
about which he said the public’



can expect further comment.

Mr Rigby said, however, that
he found it incredible that Mr
Ferguson, who is not a minister
of the newly-appointed FNM
government, had access to the
files of the Ministry of Works.

“The last time I checked, Mr
Ferguson was not one of the
members of Hubert Ingra-
ham’s gussiemae cabinet. As a
political novice it is clear that
Mr Ferguson does not have an
understanding of the role that
he plays and the role of those
who are members of the
gussiemae cabinet. This is sim-
ple politics 101. He had better
get up to the mark,” Mr Rigby
said.

SEE page 10

les & Biscuits

Ferguson mocks decision
by PLP to contest seats

@ By KARIN HERIG

Tribune Staff Reporter

THE PLP made their bed in
terms of constituency cuts and
now have to lie in it, FNM vice-
chairman Johnley Ferguson
said yesterday.

Responding to the PLP’s
announcement that it is look-
ing into the possibility of con-
testing up to five seats in elec-
tion court, Mr Ferguson told
The Tribune yesterday:

“If the PLP feel aggrieved,
that’s amazing. They are the
ones who set the rules, they are
the ones who cut the bound-
aries, they are the ones who
had half of a polling station in
one constituency and the other
half in the next one,” he said.

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Mr Ferguson pointed out
that Prime Minister Hubert
Ingraham — who was the leader
of the opposition at the time
the boundaries were cut — cau-
tioned the PLP and warned
them that the new division of
constituencies “didn’t make
good sense and could result in
problems.”

“But Mr (Perry) Christie was
the prime minister then and his
advisers, whoever they were,
advised him that this was the
right thing to do. Now for them
it backfired and they are crying
wolf,” Mr Ferguson said.

Prime Minister Ingraham in
his first public address after the
election accused the PLP of

SEE page 10





Peta




Lhe Bahamas ‘Conference 3
Sf Lge Wethodist Church

The President of the B.C.M.C.
offers a personal invitation for persons to attend the
Spiritual Growth Conference

MRS. KENRIS L.
CAREY

My dear friends:

I write to you just days away from the beginning of our 2007 Spiritual Growth
Conference with my personal invitation for you to attend the sessions of the
Conference as will be outlined below.

The Conference will take place at Ebenezer Methodist Church, East Shirley
Street, Nassau. We are pleased to welcome to our Conference Bishop James
Swanson from the Holston Conference of the United Methodist Church. Bishop
Swanson is very involved in the World Methodist Council and we are privileged
to have him with us. Also joining us will be the Rev. Dr. Dan Johnson from the
United Methodist Church in Gainesville, Florida. Dr. Johnson is a published
author in Old Testament studies and will give the Key Note address on Wednesday
and Thursday nights, May 23 and 24 at Ebenezer Methodist Church. He will
also conduct the Bible Study on Thursday morning, May 24 at 9.30 a.m.
Bishop Swanson will be the Key Note speaker on Friday night, May 25 and the
Bible Study on Friday morning at 9:30 a.m.

I want to stress the fact that the Spiritual Growth Conference is open to everyone.
I know vou won’t regret it if you come to some of the sessions. On Sunday,
May 27, 2007 all Methodist Churches in the Bahamas Conference will close for
the 11:00 a.m. services. We will all gather at the Queen’s College Auditorium
for a United Worship Service. Bishop James Swanson will be the Guest Preacher.
You won’t want to miss this event. I expect all of our Methodist Members and
friends to be present.

I invite you to pray with us as we prepare for a fresh anointing of the Holy Spirit.
May God Bless you.

‘Kenris L. Carey
President

ye ivitual Growth re
Programme —



| Wednesday, May 23, 2007

1:30 p.m. — Business Session — Ebenezer Sanctuary
4:30 p.m. Communion Service
7:30 p.m. Evening Session. Worship Coordinator Rev. Bill Higgs

a * Preacher: Rev. Dr. Dan Johnson
Thursday, May 24, 2007 — Aldersgate Day
9:30a.m. Bible Study Worship Coordinator: Rev. Godfrey Bethell
Bible Study Leader: Rev. Dr. Dan Johnson
Workshops. (Workshops end at 4:00 p.m. and will take place at
Epworth Hall) a8

2:00p.m.

1. Faith and Healing — Rev. Marie Neilly
. Spirit Filled Preaching — Rev. Mark Carey
. Growing a Church John Wesley’s Way — Rev. Dr. Stephen Hale
4, Practicing Excellence in our Faith and Finances — Rev. Philip
Stubbs
5. Relational Evangelism — Rev. Diego Flores
7:30 p.m. — Evening Session. Worship Coordinator: Rev. Mark Carey
Preacher: Rev. Dr. Dan Johnson
Friday, May 25, 2007
9:30am. Bible Study Worship Coordinator: Rev. Carlos Thompson
Bible Study Leader: Bishop James Swanson
Workshops: (Same location as Thursday)
1. Transition and Change: Discerning God’s Will For My Life.
Rev. Carla Culmer
2. The Life and Work of Charles Wesley — Rev. Charles Sweeting
3. Implementing Changes In Churches To Stimulate Growth
Rev. James Neilly
4. Excellence in Spiritual Leadership _ Rev. Dr. Laverne Lockhart
5. Foundations For Practicing Excellence — Bishop James Swanson
6. Excellence: Act or Attitude? — Rev. Bill Higgs
7. Into the Deep: The Truth About Spousal Abuse, Domestic Violence
and Rape — Rev. Christopher Neely. -
Evening Session. Worship Coordinators: Pastors Martin and -
Sharon Loyley.
Preacher: Bishop James Swanson

Saturday, May 26 2007

8:00 a.m. — Breakfast - Epworth Hall

9:00 a.m. Special Seminar on Personal Growth and Leadership
Worship Coordinator: Rev. James Neilly

', Presenter: Bishop James Swanson
Lunch — Epworth Hall
Closing Worship
Youth Activity
Day Session at Adventure Learning Camp —
Coordinators: Mr. Charles Moss; Rev. Marie Neilly; Mr. Henry
Knowles

2:00 p.m.

7:30 p.m.

1:00 p.m.
2:00 p.m.

9:30 a.m.

7:30 p.m. SPIRITUAL GROWTH CONFERENCE CONCERT -—
EBENEZER

Coordinator: Mr. Maxwell Poitier

Sunday, May 27, 2007

11:00 a.m. UNITED WORSHIP SERVICE - Queen’s College Auditorium
Worship Coordinator: Rev. Carla Culmer

Preacher: Bishop James Swanson

March of Witness immediately following worship— Queen’s College
to Village Road Round-About and back to Q.C.

12:30 p.m.

MN NNN RRR

Further information available from all BCMC Methodist Churches and f
| the BCMC Office: Phone 393-3726. Fax: 393-8135 Spe eae



PAGE 2, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



LOCAL NEWS



Foulkes stresses
commitment to
developing port

MINISTER of Maritime
Affairs and Labour Dion
Foulkes reiterated the
Bahamas’ commitment to the
growth and development of the
port of Nassau during a press
conference at his ministry yes-
terday. ;

Mr Foulkes remarked that of
the five million tourists that vis-
it the Bahamas annually,
around three million of them
do so via the port of Nassau.
This fact, he said, makes the
port an “invaluable part” of the
socio-economic development of
the Bahamas.

“In addition to the large num-
ber of pedestrian traffic through
Prince George Wharf which
serves as the gateway for visi-
tors to New Providence, Festi-
val Place teems with vendors,
visitors and users alike, creat-
ing an atmosphere: here at the
port of Nassau that is very sim-
ilar to that of the port of Palm
Beach.

The press conference was
called to announce a series of
meetings between Mr Foulkes
and officials from various inter-
national ports, the first of which

if being held with officials from

Palm Beach. .
“The two ports also share

similarities in terms of their day-

to-day operations which include

-those related to containerised

operations, dry, liquid bulk and
break bulk and roll on/roll off
cargo,” he said.

“The port of Palm Beach also
acts as an important distribu-
tion centre for commodities
being shipped primarily through
the Caribbean. One of the gov-
ernment’s objectives, as out-
lined in Manifesto 2007, is for
the establishment of linkages in
the economic sector.

“It is my belief that the rela-



@ DION Foulkes

tionship between the port of
Palm Beach and the port of
Nassau could play a key role in
expanding the economic link-
ages in the economic sector this
government is desirous of, while
allowing officials from both
ports to share expertise and
training in a number of areas
which is paramount to the sur-
vivability of ports worldwide,”
the minister said.

Due to the similarities
between the two ports, Minister
Foulkes said that opportunities
are available to both countries
to share expertise in a number
of areas including cruise ship-
ping, port security and con-
tainerised shipping; all in an
effort to ensure the future
growth and development of
both entry ways.

“IT am told that the Port of
Palm Beach ranks as the

fourth busiest port in Florida
and the 18th busiest port in
the United States of America.
This confirms that the port of
Palm Beach is growing a con-
siderable amount of traffic and
we would wish to have the
port of Nassau to be able to
participate from this increas-
ing trade.

“The relationship between
the two ports is nothing new, as
the Port Department, led by
Captain Anthony Allens, has
engaged in previous discussions
with Port chairman Wayne
Richards and his staff.

“We today, however, wel-
come this renewed commitment
and look forward to a fantastic
relationship between the two
entities and indeed the State of
Florida and the Commonwealth
of the Bahamas in our future
endeavors,” he said.

D>

@ COLONEL HILL, Crooked Island — Crooked Is

land High School students Berkley Pinder (left)



and Shanell Moss performing a skit at the E Clement Bethel National Arts Festival adjudication.

Their performance placed them near the top of their division so far



@ CROOKED
island High School
student Berkley
Pinder creating
beats, on May 16

@ CABBAGE Hill
Primary School
students
performing on May
17.

(Photos: BISEric
Rose
THE TRIBUNE





On brief

Jamaican

admits to |
cultivating |
marijuana |

A JAMAICAN man
pleaded guilty in Magistrate’s
Court yesterday to drug
charges in connection with
the discovery of 134 pounds
of marijuana as well as a field
of 191,150 marijuana plants.

Richard Robinson, 34 , of
Brown’s Town, Kingston
appeared before Magistrate
Renee McKay at court six in
Parliament Street yesterday
on charges of cultivation of
dangerous drugs, possession
with intent to supply, con-
spiracy to cultivate and con-
spiracy to possess with the
intent to supply.

It is alleged that on Tues-
day April 3, 2007, while at
Stafford Creek Andros,
Robinson, being concerned
with others, was found cul-
tivating marijuana.

It was alleged that on the
same date, Robinson, being
concerned with others while
at Stafford Creek, was found
in possession of a. quantity
of marijuana with the intent
to supply it to another.

The charges also claim that
between Wednesday, Octo-
ber 4, 2006 and Tuesday
April 3, 2007 while at
Stafford Creek, being con-
cerned with others, Robin-
son conspired to cultivate
marijuana and conspired to
possess a quantity of mari-
juana with the intent to sup-
ply.

Robinson, who pleaded
guilty to all charges, was
remanded to Her Majesty’s
Prison and his sentencing has
been deferred to May 29
which is when he is sched-
uled to appear before Mag-
istrate Carolita Bethel.

Seven other persons —
some Jamaican and some
Bahamian — have already
been arraigned on similar
charges. They all pleaded not
guilty and are awaiting trial.

St Lucia PM
returns from
US after
treatment

m@ ST LUCIA
Castries

PRIME Minister Sir John
Compton has returned from
the United States where he
received treatment following
a series of strokes, but offi-
cials gave no indication Mon-
day of whether he will be able
to resume Official duties,
according to Associated Press.

Compton, 83, flew to the
Caribbean island from New
York on Saturday, said
Stephenson King, the acting
prime minister.

A government statement
said Compton has begun
therapy to improve the co-
ordination of his legs and is
speaking more slowly than
usual, but said he did not suf-
fer any brain damage. It
promised to regularly update
the former British colony of
on Compton’s condition.

TROPICAL
EXTERMINATORS

eee
gi a ada a Ye



LOCAL NEWS

WEDNESDAY, MAY 23, 2007, PAGE 3

Child Protection Act: questions






are raised on its enforcement .

m@ By ASHLEY THOMPSON

CONCERNED Bahamians
are questioning why the Family
and Child Protection Act is still
not being enforced — even
though it was passed by parlia-
ment months ago.

Clever Duncombe, president
of Bahamian Fathers for Chil-
dren Everywhere, asked: “Why
is it taking so long for this act to
be implemented?”

For the past few months,
there has been talk about pos-
sible dates to begin enforcement
of the act, but not date has been
announced as yet.

This raises concerns for citi-

zens such as Mr Duncombe,
who stresses that “children and
men are getting hurt” as long
as the old legislation is being
used because it does not offer as
much protection for children as
this new act does, nor does it
guarantee single men the right
to see their children.

The Family and Child Pro-
tection Act was passed by the
House of Assembly and the
Senate in late November 2006.
The main advocate for this act

Campaigner asks why new |

law not being enforced

was former Minister of Social
Services and Community
Development, and current MP
for Yamacraw, Melanie Grif-
fin.

The Family and Child Pro-
tection Act incorporates
changes to the law such as
harsher punishments for those
found guilty of child abuse.

The act makes it possible to
prosecute those aware of any
forms of abuse taking place —
be it mental, sexual, physical,
verbal, or emotional — who do
not report it to the appropriate
authorities.

It will also allow for the pros-
ecution of those who do not
take proper care of and respon-
sibility for their children.

The act raises the age of crim-
inal responsibility from seven
to 10, as well as raising the age

of criminal detainees from 16
to 18.

Some of these commitments
carried out by the Family and
Child Protection Act arise from
the Bahamas being one of the
nations that signed and ratified
the United Nations' Conven-
tion on the Rights of the Child
in 1991.

This convention outlines the
rights of children, before and
after birth, worldwide. It
requires that a signatory coun-
try's laws be adapted to match
the commitments made by sign-
ing the convention.

This new act also updates
previous legislation, including
the Children and Young Per-
sons (Administration of Justice)
Act, the Maintenance and Emi-
grants Act, the Guardianship
and Custody of Infants Act, the

H CLEVER Duncombe

Affiliation Proceedings Act, and
the Infants Relief Act. It also



created adjustments to other
miscellaneous acts.

Vendor pleased at straw market review
— but urges government to consult

@ By BRENT DEAN
Tribune Staff Reporter

A STRAW vendor is delight-
ed that the FNM government
is reviewing the contract for the
new straw market.

However, she cautions that
the new government must con-
sult with straw vendors about
their plans — unlike the previous
regime.

Marisol Morley expressed her
opinion on the review of the
straw market contract, and sus-
pension of work on the site, in
an interview yesterday with The
Tribune.

Many vendors, she claims, did
not want the planned multi-sto-
ried market, as there is a strong
desire among the group to
remain together on a single lev-
el.

“Everybody just wanted to
be on one level. They (the ven-
dors) don’t need anything fan-
cy,” she said.

Ms Morley also criticised
what she claims was the lack of
consultation of the vendors by
the previous government.

“We would definitely like the
new government to consult the
vendors, because the vendors
know what they want,” she said.

Despite the criticism of the
market by Ms Morley and sev-
eral of her colleagues, a large
number of vendors celebrated
with former Prime Minister
Christie at the contract signing,
declaring how pleased they
were with the proposed plan.

The $23 million structure,
proposed by the PLP, was due
to be completed by August 2008
with work having commenced
a few days before the general
election. :

The then minister of works,
Bradley Roberts, hailed the
project as the largest sum of
money any Bahamian govern-
ment has invested in a single
government building.

According to the contract

now under review, the new mar-
ket consists of three levels, and
is expected to house some 600
vendors.

The third level of the market
was to include a five thousand
foot commercial space and a
five thousand foot restaurant.

Another key feature of the
plan was a one hundred foot
observation tower, offering
panoramic views of the city of
Nassau and its historic harbour.

The commercial spaces and

. observation tower were to serve

as revenue generators — over
time assisting in paying for the
overall capital investment.

At the contract signing, Mr
Roberts criticised the previous
FNM government for their






































modest vision — a $3.03 million
market. However, with the gov-
ernment back in the hands of
Prime Minister Hubert Ingra-
ham, significant downsizing may
occur to the PLP’s plan for an
international show-piece mar-
ket on Bay Street.

Ms Morley added that many
of the vendors are patient
regarding the government’s
review of the contract and
would like them to take their
time to ensure that the struc-
ture is properly erected.

In the meantime, she said,
vendors at the temporary mar-
ket need a new tent covering,

as the current material is worn

out, which has led to flooding
problems when it rains.

West Bay St.-Cable Beach

P.O. BOX CB-13270
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Cafe Johnny Canoe will no longer be
serving breakfast as of

Wednesday the 23rd of May, 2007.

We will continue to serve lunch and
dinner from 11:30 a.m. to
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Friday and Saturday.

We are sorry for any

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-The Management of
Cafe Johnny Canoe-

CEL teectenditncenl YY Niemen


PAGE 4, WEDNESDAY, MAY 23, 2007 THE TRIBUNE

The Tribune Limited Examining

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, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, SS DON 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



Rigby misses point on contract issue

ALTHOUGH RACE and racial issues are
an acceptable subject for debate, the subject is
not acceptable during an election campaign,
especially if it’s used for propaganda purposes
to divide a nation.

So also every administration has the right
and even the duty to issue contracts, but rush-
ing out $80 million worth of contracts just
before an election is certainly an eyebrow-rais-
er and should be questioned by a new admin-
istration.

And this is just what FNM vice chairman
Senator Johnley, Ferguson did yesterday in a
statement on behalf of his party, and presum-
ably his government.

Mr Ferguson made his comments in reply to
criticism by PLP chairman Raynard Rigby
about the FNM’s decision to put on hold the
construction of the straw market building until
the plans for this structure could be reviewed.

On Sunday, Mr Rigby described the decision
‘to review the contract as “an act of betrayal and
the grossest of witch-hunting by the FNM.”

In an attempt to deflect the public’s atten-
tion from the contracts, Mr Rigby now wants
Mr Ferguson to explain “why he has access to
the files of the Ministry of Works.” It is obvi-
ous, Mr Rigby, that to call a press conference to
discuss government contracts, the minister
must have authorised Mr Ferguson to make the

people’s business available to them. In fact it is

doubtful that the public is interested in how Mr
Ferguson got his information, they would much
rather have answers to how their money is
being spent.

_So let’s forget about the messenger and
concentrate on the message.

On May 10 we disclosed in this column a
frantic message that we received from a civil
servant about these very contracts, in addition
to rushed promotions and last minute salary
increases for civil servants.

“Tf Mr Ingraham wins this election,” said the
caller about a week or two before the May 2
election, “I feel sorry for him. He’ll turn grey
when he discovers what they have been up to.
They have broken the country.”

And so, even before the election, smoke
signals were rising to alert certain citizens that
mischief was possibly afoot.

Mr Rigby claims that “Mr Ferguson does
not understand that government has a right
to issue contracts and that a new administration
does not have a legal right to either suspend or
terminate the contracts simply because they
were awarded by the previous administration.”

We are certain that Mr Ferguson is aware of

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all of this, but where Mr Rigby misses the boat
is his claim that the contracts are being scruti-
nised because they have been awarded by the

“previous administration.” This is not true.
The contracts are being reviewed to make cer-
tain that the previous administration in award-
ing them had the best interest of the public in
mind. Also that the taxpayer is getting his
money’s worth and is not paying for a bloated
or unnecessary contract. No one is saying that
this is so. However, if the contract price or the
ability of the contractor to deliver work up to
standard is found wanting, then the Ingraham
government, on behalf of the Bahamian tax-
payer, is duty bound to terminate the contract.
If this should happen it will then be for the
Christie administration to justify its steward-
ship.

Word-twisting Rigby goes even further in
an attempt to make the public believe that Mr
Ferguson is suggesting “that the school children
in Selina Point, Acklins are not worthy to enjoy
a school built at a cost of $3.1 million.”

Mr Rigby knows that this is not what Mr
Ferguson was saying or even suggesting.

Mr Ferguson — as do all of us — believes
that every child in this country is entitled to the
best education that this country can afford.
But spending $3.1 million to build a school for
37 children — at a cost equivalent to $80,000
per child — cannot be justified. To construct a
smaller building for such a small school popu-
lation would in no way diminish their stan-

dard of education, but, while giving them an .

adequate building, would make funds avail-
able for other children in schools where the
need is as great.

We are all aware that this is a small country
with limited resources. But many Bahamians,
with expectations that this nation cannot afford,
seem to think that a government on coming to
power suddenly comes into possession of the
proverbial pot of gold. Many politicians —
especially while in opposition — encourage
them in this belief.

These $80 million worth of contracts have to
be revised to make certain that taxpayers are
getting what they are paying for. We hope that
the PLP government bore this in mind and
were responsible in awarding them. If not then
the FNM must do what is in the best interest of
the Bahamian people.

And, Mr Rigby, Mr Ferguson has no
explaining to do. However, if something should
be found amiss, then the former government
might have to justify some of their hurried
decisions. It’s all a matter of accountability.
























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of Castro

EDITOR, The Tribune

Fidel Castro in Cuba is faith-
fully following today the course
of Russian Communism of the
last century. And like the Russia
of the past, Cuba enjoys wide-
spread international sympathy
and support despite the tyranny
it imposes on its own people. For

instance, the recent Bahamian’

administration seemed eager to
lend Cuba support; and most
tourists experience the country’s
warmth and hospitality without
ever perceiving the reality of
Cuban life. It takes a keen
observer to do this. \

Tony Mendoza, an Associate
Professor of Art at Ohio State
University, left Cuba with his
parents in 1960 and graduated

from both Harvard and Yale .

before moving into the arts. In
1997 he returned to Cuba as a
tourist and wrote “Cuba - Going
Back”. It is based on 200 inter-

views and is an accurate por- |

trayal of Cuban reality.

The economic. problem.
“While issues dealing with the
absence of the most basic free-
doms came up often in conver-
sations, the problem that con-
tinually grates on people is more
fundamental: it’s not possible to
eat two meals a day for one
month with the monthly salary
the state pays. There is food
available...but state employees,
who make up.a large majority
of Cuban workers don’t make
enough money to buy there.”

(All quotes are taken from

“Cuba — Going Back” by Tony
Mendoza, University of Texas
Press, 1999).

This situation is created by low
economic productivity and is
seen in the two currency system,
a system where the government
sells in U.S. dollars at its dollar
stores and in Cuban pesos at its
peso stores. In this system the
U.S. dollar is worth 22 Cuban
pesos,as of 1999. A member of
the Communist Party’s Central
Committee stated in an inter-
view with Frontline, India’s
National Magazine, that “edible
oil, fruits, coffee, fish, eggs and
other essentials are rationed.
These rations may be enough for
just 20 days in a month. Supplies
for the remaining 10 days have
to be bought in the free market.”
One should deduce from his
statement that the free market
prices were much higher.

According to a retired doctor,
“what you have to under-
stand...is that there is a very
repressive system...There are
75,000 plainclothes spies in the
streets, and we have the largest
army in Latin America. It costs
money to maintain a repressive
system like this. That is the main

NOTICE

NOTICE is hereby given that ANTOINETTE EDMOND
of MARSH HARBOUR, P.O. BOX AB-20488, 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 16th day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

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LETTERS

letters@tribunemedia.net

.Before tourism, money

priority..
was spent on sugar...actually bil-
lions of Soviet dollars in aid was
spent on sugar. And the sugar
industry is in shambles. And
before that, millions were spent
on cattle, and the cattle indus-
try is in shambles. Before that,
money was spent on coffee, and
nothing has worked. We now
produce less sugar, a lot less than
what was produced before the
revolution. We have fewer cattle
than we had in the fifties, and
now we have twice the popula-
tion.”

According to a mid-level gov-
ernment economist, “Fidel

ruined everything in 1968 when

he nationalized all the small busi-
nesses. Up to then, only the land
and the big enterprises, like the
sugar mills, had been national-
ized. But the bars, restaurants,
stores, repair shops, small busi-
nesses — all those were individ-
ually owned. You could find any-
thing, not as before, but you

_ could find any kind of food, and

have anything repaired. But Fidel
has a problem. He wants to con-
trol everything. So he national-
ized all the small businesses, even
the vendors who sold food by the
side of the road. When he did
that, he ruined Cuba. This place
has been a mess ever since.”
“The only possibility is for us
to produce more by allowing a
free market of goods and ser-
vices to function. Our problem is
simple. We are not producing
food because there are no incen-
tives to produce. Everyone gets
paid the same inadequate wage.
And Fidel won’t allow a real free
market. Historically, whenever
farmers in Cuba have been
allowed to sell their own pro-
duce, they’ve produced plenty
of food. But you can count on
Fidel to resist any attempts to
free the markets. Castro has
always exhibited an irrational
hatred toward market mecha-
nisms, entrepreneurs, capitalism,
small private business, you name
it. There are some free markets,
but they are overloaded with

restrictions to prevent them from :

thriving.”

Fidel Castro allowed two peri-
ods of economic liberalization,
one in the late 1970s and the oth-
er in the early 1990s. During both
periods production and private
enterprise grew significantly.

“But starting in 1982, Fidel
became disappointed in these
policies and started denouncing
the self-employed workers and
the farmers...He felt too much

capitalism was corrupting Cuban
socialism and what proved to be
the fatal sin, too many self-
employed workers and farmers
were making too. much mon-
ey... Hundreds of self-employed
workers were arrested for
becoming too rich, and the taxes
for independent workers were
doubled. But the Cuban entre-
preneurs persisted. In 1986 Fidel
put an end to it all when he
announced the Process of Recti-
fication of Errors [PR]....The
free farmers’ markets were elim-
inated, as well as self-employ-
ment” In the end “it was anoth- ~
er disaster. The purified socialist
economy was incapable of pro-
ducing the products and services
eliminated by the PR.”

In 1991 the Fourth Party Con-
gress again allowed self-employ-
ment with restrictions. “Under-
mining the whole idea of self-
employment is the law of May
1994 that states that any exces-
sive accumulation of riches is
illicit. Thus anyone making too
much money through self-
employment is breaking this law
and can be put in jail and have
their assets seized. ‘

Tyranny. Every Cuban is clear
about human abuses. “If you are -
vocal in your opposition to the
regime, you end up in jail. It’s
that simple” The Penal Code
prohibits disrespect, insult or
abuse to the dignity or honour of
the authorities, enemy propa-
ganda, resistance to authority
and any special proclivity to
commit crimes as demonstrated
by behaviour that manifestly
contradicts the norms of socialist
morals.

The Cuban peaale are .
watched by the Committees for
the Defense of the Revolution
located on every residential
block. The Singular System of
Vigilance and Protection watch-
es the streets and buses; govern-
ment labour unions watch the
workers, the Cumulative Dossier’ '
registers the academic record,
political tendencies and volun-
tary activities of students; the
Ministry of Interior watches and
infiltrates work and play, the
Police and Military Guard are
stationed throughout the coun-
try; and the Rapid Response
Brigades put down illegal actrvi-
ty without a military appeara: ce.

What does the future hold? ‘n
the short run no one expects .
popular uprising...“no one wants
to be a martyr and no one wants
to end up in a Cuban prison.”
In the longer run Cuban Marx-
ism will likely collapse as it did in
Russia.

THE NASSAU INSTITUTE
Nassau
May 15 2007

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THE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 5



BTC launches
trade show
and expo in
Freeport

FREEPORT - _ The
Bahamas Telecommunication
Company is launching a
major technology trade show
and expo in Freeport to
showcase the latest products
and services in the telecom-
munications and information
technology industry.

Leon Williams, president
and CEO of BTC,
announced that the Grand
Bahama Technology Trade
Show will be held from May
26 to 29 at the Westin Our
Lucaya Resort.

The trade show is expected
to attract about 400 delegates
from various leading interna-
tional telecommunication
dealers, such as Nortel, Cisco,
Lucent, Tremor Technolo-
gies, and others.

The event, which is being
hosted by BTC, the Ministry
of Tourism, and the Bahamas
Chamber of Commerce, will
officially open on Sunday at
5pm on great lawn at the
Westin Resort.

Mr Williams said: “We
must continue to seek new
and innovative ways to pro-
vide Bahamians with infor-
mation and make telecom-

munication products and ser-

vices readily available to
Bahamian people — the 2007
trade show and expo is our
gateway to those opportuni-
ties,” he said.

There will be 40 exhibits
by local and international
sponsors, and local and inter-
national seminar presenters.

Henry Romer, BTC vice
president of northern
Bahamas, said featured topics
for this year’s event will focus
on: new broadband and busi-
ness solutions that can help
and grow a business; e-com-
merce; the next generation
network (NGN); new tech-
nological innovation in the
hospitality industry and other
topics.

The event will also show-
case automotive Blue Tooth
technology with 2007 vehi-
cles that have been outfitted
with Blue Tooth devices.
BTC will also take the oppor-
tunity to showcase some of
its newest product offerings.

The trade show will begin
with a preview of the expo
hall on Saturday, May 26
from 12pm to 7pm.

Entertainment will be pro-
vided by Bahamian enter-
tainers such as Elon Moxey,
Therez Hepburn and KB,
and other entertainers.

There will also be prize
giveaways to session atten-
dees and participants.

Exuma resort
names
assistant
manager

i SHERVIN Penn

GRAND Caribbean
Resorts, operators of Exuma’s
exclusive Grand Isle Resort
and Spa, has announced the
appointment of Inagua native
Shervin Penn as assistant gen-
eral manager.

Penn’s promotion at the age
of 30 makes him one of high-
est-ranking — and youngest —
Bahamians in the hospitality
sector.

John Shkor, Grand
Caribbean Resort’s CEO and
president, said: ““As operations
manager, Shervin proved he
was dedicated, willing to pitch
in and do whatever it takes to
provide a satisfying experience
for our guests.”

Penn earned a degree in
marketing, worked briefly in
that field, felt drawn to the
hotel industry and spent sev-
en years at the busy British
Colonial Hilton in Nassau
before joining Grand Isle, an
upscale enclave of 78 “con-
dotel” units receiving the
highest guest satisfaction rat-
ing overall of any hotel in the
Bahamas, according to the
company.

@ By ALISON LOWE
Tribune Staff Reporter

A SENIOR environmental
risk official has expressed sur-
prise that none of the petroleum
companies located at Clifton
admit to knowing about the
nearby spill prior to Monday's
news reports.

Meanwhile, no update on the
source of the oil leak off Clifton
Pier has been issued by any gov-
ernment agency or private com-
pany.

Dwayne Curtis, chief public
analyst with the environmental
monitoring and risk assessment
division and member of the oil
spill committee said he is con-
cerned that the spill was not
brought to the attention of his
division — which is mandated to
investigate any significant oil
spill - until the aerial pho-
tographs of the large oil slick in

i front of the Bahamas Electrici-

ty Corporation compound were
published by The Tribune.

“What ideally happens is that
whenever there is a spill of any
significance, the information
would be referred to that com-
mittee and an investigation car-
ried out within that committee
and a committee report would
be generated. In this particular
case that hasn't happened,” he
said.

Mr Curtis said that the Port
Department should be the first
department to be notified, and
added that, according to news
reports, “this appears to have
been done.”

However, comments made by
port controller Capt Anthony
Allens on Monday indicated
this was not thanks to any par-
ticular Clifton based oil han-

Oil spill leads to concerns
over reporting procedure

Monitoring agency only learnt of slick through pictures published in The Tribune





where the slick is floating

dling company, but a concerned
member of the public.

BEC deputy general manager
Anthony Forbes said Monday
that the corporation had begun
an investigation into the source
of the spill, which was first
brought to the attention of The
Tribune last week. This fol-
lowed a statement noting that
the corporation was not neces-
sarily responsible.

Mr Curtis and Melanie
McKenzie, director of the
department of environmental

THE oil spill at Clifton Pier at South West Bay on Saturday.



health, said that they were await*
ing status reports from BEC.
"We're trying to get informa-
tion of what has transpired and
what is being done," he said.
In the meantime, the oil con-
tinues to spread out into the
ocean for miles along the West-
ern coast of New Providence, a
popular location for divers.
Mr Curtis said he thinks the

best interests of the environ-.

ment could be secured if there
was more co-operation between
petroleum-handling companies

The area to the t

(Photo: Franklyn G Ferguson)

at Clifton Pier, such as BEC,
Shell, Texaco and Chevron.
"There's a history of these
releases and we have our sus-
picions as to the source, though
I don't want to point a finger at
any particular entity," he stat-
ed. "But what we would like is
to get all of the agencies out
there to come together and to
recognise that this is a prob-
lem that is not necessarily

caused by one entity but by the »

whole Clifton pier conglomer-
ate and they need to get



together as a unit and address
these things."

Action has been delayed by
the fact that no agency appears
willing to take action until they
have been proved culpable.

The environment official said
that this approach needs to
change. "We need to find a way
to immediately respond to these
things rather than wait until an
investigation is carried out," he
said.

It has been noted by agencies
external to the Bahamas that .
much of the equipment and
expertise necessary for oil clean
ups is currently in the hands of
the oil corporations, rather than
the government.

One source has noted that
stricter legislation relating to
environmental hazards such as
oil spills, which would entail
fines, would be helpful in clean-
ing up the industry. While it is
currently possible for compa-
nies to be prosecuted under the
Environmental Health Act for
environmental contamination,
the source noted that this does
not happen as often as it
should.

With respect to the possibili-
ty that BEC could be responsi-
ble for the oil release, the
source noted: “You're dealing
with one government agency
taking action against, potential-
ly, another government agency
and I'm sure you can have some
idea of the implications of that.”

Attempts to contact BEC for
comment on the matter were
unsuccessful and calls were not
returned up to press time.

suffering dog

mg By ASHLEY THOMPSON

ANIMAL lovers are out-
raged at the Canine Control
Unit for leaving a severely
wounded three-legged dog
roaming the streets.

Despite several calls about

the animal — including detailed
information about the area it
frequents — Canine Control offi-
cers failed to do anything, mem-
bers of the public claim.

When contacted again yes-
terday, an officer said that a
team had visited the area, but

“was unable to find the dog.

However when informed the
dog was in the street at that very
moment, he said they could not
capture it then — because it was
raining.

“What. a preposterous
answer,” commented one mem-
ber of the public. “Imagine if
everyone refused to do their job
when the weather was less than
perfect.

“The worst part is that these
people seem to care nothing for
the dog or its suffering — yet
they are often the only ones ina
position to give these poor ani-
mals some sympathy.”

A week ago, the dog was seen
sitting on Dowdeswell Street
across from the Eastern
Esplanade. One of its hind legs
seemed to have been “ripped
off” according to a concerned
caller.

When first contacted, Canine
Control agreed to go and pick
up the dog, the caller said.

However, throughout the
week many several callers say
they noticed that the dog had
not been removed.

When The Tribune contact-
ed Canine Control for an expla-
nation, an officer acknowledged
that they had been notified —
not just by a caller, but also by
the Humane Society — on more
than one occasion over the past
few days.

"It (the dog) was never on
the scene when we arrived,"
claimed the officer.

He said the team had visited
the area:more than once since
receiving calls. However, at
least three other people say they
have seen the dog in the very
same spot several times in the
past week.

After being told yesterday

that the dog had just been seen,
again in same spot, the officer
was asked if Canine Control
would go and retrieve the ani-
mal.

The officer refused, claiming
that: "Because of the condition
in the weather we have no one
to really come out and do that.
It's really hard for us to try and
capture a dog in terms of run-
ning after it and even trv to go

out in the rain".

He also expressed concern
about officers being out in the
rain for the length of time it
would take to catch a ‘dog,
claiming that it could make the
officers ill and unable to come
into work the following day.

The Canine Control officer
then asked The Tribune to call
them back when it stopped rain-
ing to-remind them about the
dog.

In response to these state-
ments, a concerned member of
the public stated, "If I called an
ambulance because I needed
one, it would still come for me
regardless of the rain".

Another said: “They can’t be
serious, The Tribune must
remind them to do their job
because they’re scared to go out
in the rain?”

The dog, a small, black and
scrawny potcake, carries an
unhealed, bloody stump for one
of its back legs.

It is wearing a collar with a
broken lead attached and
spends much of its time in the
vacant lot opposite the Eastern
Esplanade on Dowdeswell
Street, callers said.

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WEDNESDAY,
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6:30amCommunity Pg 1540AM

8:00 Bahamas @ Sunrise
9:00amOpening of Parliament
Pre-Show

Opening of Parliament










. 10:00
















1:00 ZNS News Update
1:05 Legends

2:00 One Cubed

2:30 Turning Point

3:00 Paul Lewis

3:30 Don Stewart

4:00 Video Gospel

4:30 Fast Forward

5:00 ZNS News Update
5:05 The Fun Farm

6:00 This Week In The Bahamas
6:30 News Night 13

7:00 The Bahamas Tonight
8:00 Opening of Parliament
11:00 News Night 13

11:30 The Bahamas Tonight




12m/n Late Night Movie:
“Scandalous Me: The
Jacqueline Susan Story”

1:30amCommunity Pg 1540AM

NOTE: ZNS-TV 13 reserves the

right to make last minute
@ me changes!

aliases =








When contacted about the
matter yesterday, the Humane








Society pledged to go and col-
lect the dog, despite this being



‘THE CONSTRUCTION TWO (2) TRANSFORMER |
FOUNDATIONS FOR THE NORTH FEEDER AT |

_ ROCK SOUND POWER STATION,

ELEUTHERA, BAHAMAS ~~

The Bahamas Electricity Corporation invites tenders from
‘eligible bidders for the construction of
two (2)}transforrner foundations at
Rock Sound Power Station in Eleuthera, Bahamas

Bidders are required to collect packages from
Mrs. Delmeta Seymour
at the Administration Office
Blue Hill and Tucker Road

OF

BEC Office
Rock Sound, Eleuthera

___ TENDER NO. 638/0
"TENDER FOR THE PROVISION OF

Tenders are to be hand delivered on or before ©
Wednesday, May 30th by 4pm
and addressed as follows:

The General Manager
Bahamas Electricity Corporation
P.O. Box N-7509
Nassau, Bahamas

Marked: Tender No. 638/07
“Construction of Two (2)
TRANSFORMER FOUNDATIONS FOR
THE NORTH FEEDER AT ROCK SOUND
POWER STATION,
ELEUTHERA, BAHAMAS”

For all inquires regarding this Tender,
contact Melpert Dean at 302-1413.

NOTE: ROCK SOUND POWER STATION |
SITE VISIT WILL BE ON FRIDAY,
MAY 25, 2007.

outside its normal areas of
responsibility.
































PAGE 6, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



Rock of Ages Funeral Chapel

Wulff Road & Pinedale
Tel: 323-3800 or 322-1431 ° Fax: 328-8852

FUNERAL SERVICE FOR

MR. ANTHONY
ELMORE"TOOKS" CARGILL, 60

of Nassau and formerly of Calabash Bay.
Andros, died on Saturday, May 12, 2007.






Funeral services will be held at 9:45 a.m.
on Thursday, May 24, 2007 at St. Cecilia's
Catholic Church, Coconut Grove, Nassau,
Bahamas. Officiating will be Father
Simeon Roberts, organist Mr. Edward
Burrows. Interment will follow in St.
Joseph's Cemetery, Tyler Street.









Left to cherish his memory are four sons,
Dr. Antoine Clarke, Anthony Cargill Jr.,
Marvin Cargill Sr., Angelo Cargill Sr.;
daughter, Lekisha Cargill-Burrows;, son-
in-law, Zhivago Burrows; 13 grandchildren, Angelo, Anthony,
Makisha, Alex, Anisha, Marvin, Myesha, Anwar, Adrian, Ayden
Cargill, Zhivago, Neketia and Catherine Burrows; brothers, Ambrose,
Tyrone, Gregory and Dr. Patrick Cargill; sister, Louise Ginger Cargill;
three sisters-in-law, Stephanie, Susan and Ruth Cargill; nine aunts,
Lucine Wilmot, Ulamea Edgecombe, Virginia Mortimer, Jennifer,
Judy and Carmeta Moxey, Velma, Doris and Madge Cargill, Wilbert
Edgecombe and Wendell Moxey; six uncles, Randolph-and Herbert
Minnis, Arnold and Alton Cargill, Wilbert Edgecombe and Wendell
Moxey; 10 nieces, Makeva, Teneekqua, Shantell, Santillia, Andrea,
Keisha, Melverne, Tercell and Tyneisha Cargill and Alexis Davis;
17 nephews, Sean, Tyson, Tremis, Tino, Tyno, TJ, Robin, Desmond,
Ricardo, Kareem, Hillary, Christian, Ondre, Julian, D'Angelo, Avery
and Avard Cargill; grandnieces and nephews, McKeo, Carmon and
Valneisha Cargill, Trenique Spence, Dominique Symonette, Sayid
Godfrey Cargill and Caitlyn and Carlin Bethel and Michael Thompson
Jr.


























Other relatives and friends including Mrs. Ethlyn Bowe, Joycelyn
Holbert and family, Janine Bodie and family, Vernetia Sweeting,
Mary Neymour, Adrianna Mackey, Maurice Arthur, Jermaine
Moultrie, i.amando Russell, Sheldon Saunders, Theodore Dorsette,
Deodano Collie, Mrs. Marcia Strachan and family, Mr. Livingston
Sweeting and family, Mr. Granville Adderley and family, Mr. Victor
Moxey and family, Donyia McPhee, Chenda Mackey, Claudia and
Tabitha McKinney, Mr. and Mrs. Steven Culmer and family, Mr.
and Mrs. James Cooper and family, Michelle Black and family, the
Ching family, the Scott family, Archie and family, Gillian Demeritte
and family, Mitchell Burrows and family, the Malcolm Allotment
Community, Vincent Rahming, Austin and Charles Minnis, Minez
Cargill, Benedict and Randall Dorsett, St. Cecilia's Lady's Auxiliary,
Miriam, Dennis, Cora and Niece Cargill, Playdell Humes, Donna
McQueen, Shawn Saunders, Marcian Mortimer, Sister Janice Coakley
and family, Patricia and Cheryl Minnis, Alphonso Smith, Elsa
’ Munnings, Roxanne Ferguson, Genesta Cooper, Joan Turnquest and
family, Dudley, Leander, Ivan and Larry Minnis, Leroy Lewis and
family, Arnold Bain, James Dean, Beverly Smith, Brian Fernander,
Mercena Stuart, the Lundy family, the Evans family, Arnold Bain,
James Dean, Tonya Adderley, Lionel Ferguson, Floyd Wilmot,
Ashley, Marcian, Ephram and Moses Cargill.

























Special thanks to the doctors and nurses of I.C.U. and Male Medical
I of The Princess Margaret Hospital, and all those we may have
failed to mention.







Friends may pay their last respects at Rock of Ages Funeral Chapel,
corner of Wulff Road and Pinedale, on Wednesday, May 23, 2007
from 10:00 a.m. to 6:00 p.m. and on Thursday, May 24, 2007 at St.
Cecilia's Catholic Church, Coconut Grove from 8:00 a.m. until service
time.






Public Utilities Commission

Desiree Cox to speak at
OB commencement

STUDENTS graduating from
the College of the Bahamas this
year and their guests are in fora
special treat as the keynote
speaker at their commencement
ceremony is multi-dimensional
Bahamian “Renaissance
Woman” Dr Desiree Cox.

Dr Cox is a creative talent
and innovative thinker who not
only qualified as a medical doc-
tor but is also a researcher into
the history of medicine, a social
entrepreneur, a professional
musician and singer, a published
writer and a visual artist.

Following an outstanding aca-
demic career at Queen’s Col-
lege, Dr Cox attended McGill
University in Canada and, after
graduating with a BSc (Hons),
she became the first Bahamian
and the first woman from the
British Caribbean to win a pres-
tigious Rhodes Scholarship to
attend one of the colleges at
Oxford University.

At Oxford she gained an MB
BS in medicine and then moved
to England’s other historic seat
of learning, the University of
Cambridge, where she spent
five years, first gaining an MPhil
in the history of medicine and
then a PhD in the same subject
area.
. During her time at England’s
most famous universities, this
academic luminary won the
Pembroke College Collection
Prize, a Commonwealth Schol-
arship for Clinical Medicine, the
Radcliffe Infirmary Prize for
Medicine and a Welcome Stu-
dentship for history of medi-

Doctor, musician, artist and the Bahamas’
first Rhodes scholar to address students

i DESIREE Cox

cine.
Dr Cox’s love of music began

as a child and included both:

voice and piano training and,
as a nine-year-old, she per-
formed a solo at the funeral of
the first Bahamian Governor
General, Sir Milo Butler.

Her vocal talents were recog-
nised while she was at Oxford
University and she became the
lead singer in the university’s
acclaimed Kodaly Choir.

She later joined the Royal
Choral Society in London and
then, when her studies and
research at Cambridge were
over, she formed her own jazz
ensemble and became a fixture
on the London jazz scene.



Since returning to the
Bahamas, Dr Cox has contin-
ued to extend her musical range
and has produced two CDs of
her original material entitled,
Awakenings and Forbidden
Love.

In the last five years she has
shown her versatility by mov-
ing into the realm of visual arts.
Intensive personalised individ-
ualised art training and men-
toring with Stan Burnside have
resulted in a number of recent
exhibitions of her distinctive
and striking paintings and also
some ventures into interdisci-
plinary experimentations

“ involving dance, music and

painting.

Dr Cox is currently a consul-
tant in human development and
urban renewal to the Prime
Minister of the Bahamas. This
programme has been recog-
nised internationally.

She is also an associate lec-
turer in ethics and humanities at
the University of the West
Indies Medical School (the
Bahamas).

She is well-known to Bahami-
ans through her weekly column
in The Nassau Guardian and is
the founder of the artist organ-
isation, Soul Imagination, and
the founder and CEO of Per-
forming Cures, an international
charity which combines a num-
ber of her considerable abilities
as it brings live music and dra-
matic performances to the pub-
lic spaces of hospitals and
health-care facilities.

“Honoured as one of 33 pio-
neering women nation-builders
in Bahamian history at the 33rd
Independence Celebrations in
July, 2006, Dr Cox is certain to
both challenge and entertain

her audience at the college’s |

commencement ceremony on
May 31 and the graduation
committee is extremely pleased
to have engaged such a high-

profile, vibrant Bahamian for |

the occasion,” said the college in
a statement.

Bahamian nursing legend to be the

keynote speaker at pinning ceremony

THE College of the Bahamas
has managed to secure as
keynote speaker for its Nurses
Pinning Ceremony on May 23
an extraordinary Bahamian

member of the nursing profes- .

sion, whose many contributions

STATEMENT OF RESULTS

Price Regulation of Voice over Internet Protocol (VoIP) provided by The

Bahamas Telecommunications Company (BTC)

branded as ViBe

The Commission has concluded its public consultation on “Price Regula-
tion of Voice over Internet Protocol (VoIP) provided by The Bahamas Tele-
communications Company branded as ViBe.” The Statement of Results
as at captioned summarizes, and responds to the substantive issues
raised by respondents to the Public Consultation Document.

The Statement of Results affirms the Commission’s position that The
Bahamas Telecommunications Company’s (BTC’s) VoIP service is:

(i) a ‘telecommunications service’ as defined in Section 2 of the 1999

Telecommunications Act;

(ii) “Voice Telephony” within the meaning of Condition 1.1 of the Interim
Licence issued to BTC dated September 4, 2002;

(iii) functionally and commercially substitutable’ for conventional switched

voice telephony services; and

(iv) is price regulated under Condition 15 and Schedule 1 of the Interim

Licence.

Because ViBe is beneficial to customers and the national economy, the
Commission will modify Schedule 1 of the Interim Licence to record its
approval of the various ViBe pricing schemes. All other Conditions in and
amendments to the Interim Licence remain in full force and effect.

Copies of the Statement of Results and all responses to the Public Con-
sultation Document may be obtained from the Commission’s office, Fourth
Terrace East, Nassau or by downloading the documents from the
Commission’s website at www.pucbahamas.gov.bs. -

BARRETT A. RUSSELL

Executive Director, Public Utilities Commission

4th Terrace East, Collins Avenue
Facsimile: (242) 323-7288
E-mail: PUC@pucbahamas.gov.bs



to the development of nursing
in the Bahamas and nursing
standards have been recognised
at home an abroad.

Mary Johnson, a native of
Fox Hill, Nassau and third
daughter of the late John and
Lillian Johnson, was educated
at the Sandilands Primary
School and the Government

High School. She is a state reg- .

istered nurse, a midwife, holds a
BSc in nursing and an MA in
rehabilitation and counselling.

In 1960, at the age of 17, she
began‘nurse training at the
Princess Margaret Hospital and
in 1963 was the first nurse to
complete the previously four
year General Nursing Pro-
gramme in three years.

She was one of the first two
Bahamian nurses to be
deployed as clinical teachers at
the Princess Margaret Hospital

in 1968, and the first Bahamian
female nurse to obtain post
basic certification in Psychiatric
Nursing in 1969.

She was subsequently granted
a PAHO fellowship to complete
the Advanced Nursing Educa-
tion Certificate Programme at
the University of the West
Indies in 1972.

This training equipped her to
become the first Bahamian psy-
chiatric nurse tutor, enabling
her to have a major impact on
the development of psychiatric
nursing in the Bahamas.

Ms Johnson served as nurse
educator in the Bahamas School
of Nursing for 12 years and then
as a part-time lecturer when the
programme was transferred to
the College of the Bahamas in
1983.

In 1973/4 she chaired the
committee to develop and later

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co-ordinate the Post Basic Psy-
chiatric Nursing Programme for
Trained Clinical Nurses and the
programme for registered nurs-
es which commenced in 1983.
From 1989 to 1994, she served

as principal nursing officer at '

Sandilands Rehabilitation Cen-
tre where June 25, 1992 was des-
ignated as “Mary Johnson Day”
in appreciation of her outstand-
ing contribution to geriatric
nursing care at the centre.

Ms Johnson was appointed
director of nursing in 1994.
Notable developments in nurs-
ing and nursing education dur-
ing her tenure include: the
establishment of the Nursing
Cadet Programme in 1996, the
establishment of the. Nursing
Research Unit in 1999 and
introduction of the Nursing Pre-
ceptor-shi Programme.
November 2001 saw the launch
of the “Future Nurses of the
Bahamas” programme, target-
ing students in grades five to
nine.

As director of nursing, Ms
Johnson uses every opportunity
to encourage and empower nurs-
es to always strive for excellence
in all aspects of their practice and
to think “outside of the box”.

She was instrumental in the
formation of the Nursing Task
Force which was launched
together with the Coalition for
Change and the 100-Day chal-
lenge in 2003.

Ms Johnson’s contributions
also include: registrar of the
Nursing Council of the

Bahamas (1977-1979), member ;

of the Education and Examina-
tions Committees of the Nurs-
ing Council for many years and
director of the Bahamas Coun-
cil for the Handicapped.

She has: participated in
numerous training programmes
for nurses, focusing on the psy-
chiatric nursing component in
all of the basic and post-basic
programmes and the psycho-
logical aspects of caring for per-
sons suffering from HIV/AIDS.

Ms Johnson has received
numerous awards and recogni-
tions including being honoured
by the Ministry of Health in
1997 for 35 years of dedicated
service, and being named a
Health Hero by PAHO and
Ministry of Health in 1998

Ms Johnson also serves as a
board member of the C W
Saunders Baptist High School
and is an active member of her
community.

At the Macedonia Baptist
Church in Fox Hill, she serves
in many capacities including,
organist, Sunday school teacher,
choir member and Church
Council member.

She enjoys singing, playing
the piano, organ, trombone and
hand bells as well as reading,
walking and travelling. Ms
Johnson is also the proud moth-
er of one son, Jason.

j
THE TRIBUNE

LOCAL NEWS

WEDNESDAY, MAY 23, 2007, PAGE 7



© [n brief

Study: climate
change may
threaten wild
food crops

@ ROME

CLIMATE change could dri-
ve many wild relatives of plants
such as the potato and the
peanut into extinction, threat-
ening a valuable source of genes
necessary to help these food
crops fight pests and drought,
an international research group
said Tuesday, according to
AssociatedPress.

Over the next 50 years, more
than 60 per cent of 51 wild
peanut species analysed and 12
per cent of 108 wild potato
species analysed could become
extinct because of climate
change, according to a study by
the Consultative Group on
International Agricultural
Research.

Surviving species would be
confined to much smaller areas,
further eroding their capacity
to survive, the study said.

The study looked at the dis-
tribution of various species and
predicted their ability to sur-
vive based on current and pro-
jected climate data for 2055.

Farmers and researchers
often depend on wild plants to
breed new varieties of crops
that contain genes for traits such
as pest resistance or drought
tolerance, and that reliance is
expected to increase as climate
changes strain the ability of
crops to continue to have the
same yields as now, the group
said in a statement.

In recent years, genes found
in wild relatives have helped
develop new types of domesti-
cated potatoes that can fight
devastating potato blight and
new varieties of wheat more
likely to survive droughts, the
statement said.

“There is an urgent need to
collect and store the seeds of
wild relatives in crop diversity
collections before they disap-
pear,” said Andy Jarvis, an agri-
cultural geographer who led the
study. “At the moment, exist-

ing collections are conserving’

only a fraction of the diversity
of wild species that are out
there.”

Jarvis said further research is
needed to identify which wild
relatives are more vulnerable
to climate change.

Plant species like the peanut
are more endangered by global
warming as they grow largely
in flat areas and would have to
migrate over huge distances to
find cooler climates, while
plants that live on mountain
slopes may only need to gain a
little altitude to find more favor-
able weather, he said.

The study, focusing on plants
in Africa and South America,
was put out by a Rome-based
biodiversity group, one of 15
agricultural research centers
worldwide supported by the
Consultative Group.

The international organisa-
tion is an informal association of
64 countries, public and private
groups co-sponsored by the
World Bank and the UN Food
and Agriculture Organization.
It works toward sustainable
food security and researches
ways to cut poverty in develop-
ing countries through scientific
research.

Potentially
dangerous
toothpaste is
removed

® DOMINICAN REPUBLIC
Santo Domingo

_ MORE than 10,000 tubes of
Chinese-made toothpaste have
been removed from stores
because they contain a poten-
tially deadly chemical, according
tp Associated Press.

Hundreds of health workers
have been searching for brands
“Excel” and “Mr. Cool” since
Dominican authorities learned
Friday that they are tainted by
the chemical diethylene glycol,
environmental health director
Luis Felix Roa said Monday.

The shipments arrived from
Panama, where last year medi-
cines contaminated by diethylene
glycol killed at least 51 people.

Panama also removed the
toothpastes from stores last
week, but said the chemical lev-
els do not appear to be danger-
ous. Still, officials in both coun-
tries have advised consumers
not to use the product.

The tubes were seized from
supermarkets and corner stores
in the capital of Santo Domin-
go, as well as the provinces of
Jimani, Elias Pina, Barahona,
Azua and Samana.



75 per cent chance of above

normal hurricane activity



@ THIS NOAA satellite image taken Wednesday, May 9

shows clouds off the Southeastern coast associated with

subtropical storm Andrea

(Photo: AP/Weather Underground)

US meteorologists make
predictions for season —

@ WASHINGTON

US government forecasters
predicted a busier than nor-
mal hurricane season yester-
dayday, according to Associ-
ated Press.

National Weather Service
forecasters said they expect
13 to 17 tropical storms, with
seven to 10 of them becom-
ing hurricanes.

The forecast follows that of
two other leading storm
experts in anticipating a busy
season.

The likelihood of above
normal hurricane activity is
75 per cent, the National
Oceanic and Atmospheric
Administration said.

“With expectations for an

"active season, it is critically

important that people who
live in East and Gulf coastal
areas as well as the Caribbean
be prepared,” said Bill Proen-
za director of the national hur-
ricane centre in Miami.

After the battering by
storms Katrina and Rita in
2005 there were widespread
fears last summer of another
powerful storm striking, but
the unexpected development
of the El Nino climate phe-
nomenon helped dampen con-
ditions.

The El Nino has ended,
however, leaving the potential
for more tropical storms threat-
ening the Gulf and East coasts.

El Nino is a warming of the
tropical Pacific Ocean that
occurs every few years. The
warm water affects wind pat-
terns that guide weather
movement and its effects can
be seen worldwide. In El Nino
years, there tend to be fewer
summer hurricanes in the
Atlantic Ocean.

Earlier this month Philip
Klotzbach, a research associ-

ate at Colorado State Univer-.

sity, and Joe Bastardi, the

‘chief hurricane forecaster for

AccuWeather, said they antic-
ipate a more active storm
cycle this year.

And, almost as if to under-
score their comments, a sub-
tropical storm formed off the
southeast coast and became
Andrea, the first named storm
of the year, well before the
June | official beginning of
hurricane season. ae

Hurricane season ends
November 30, but the strange
season of 2005 ran over into
late December, as well as
using up all the planned
alphabetical names, forcing
storm watchers to switch to
the Greek alphabet to contin-





@ DIRECTOR of the National Hurricane Center Bill
Proenza speaks during the Florida Governor’s Hurricane
Conference in Fort Lauderdale on May 16, 2007

(Photo: AP/Lynne Sladky)

Labrador-Rhodesian Ridgeback Crossbreed Dog
Ginger Colour with 4 white feet, white tip on the tail

Reward offered
Phone: 324-2727

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FOR SALE

Resario West
St. Alban’s Dr. New 2 bedroom, 2 1/2 bath,
3 storey Townhouses. Gated property.
Modern kitchens & well appointed interiors.
Pre- construction price $ 199,000 with only
$5,000 reservation deposit required.

454-2098 or 422-4489.




















@ ONE of many surfers at Juno Beach, Florida on May 9 taking advantage of the unusually high



waves coming ashore as Subtropical Storm Andrea brewed in the Atlantic Ocean

ue naming storms.

Last year, there were just 10
named storms in the Atlantic
and none made landfall in the
United States.

Klotzbach and his colleague
at Colorado State University,
William Gray, predict a “very
active” season this year with 17
named storms, including nine
hurricanes.

Bastardi called for fewer
storms but agreed 2007 would
be more active than usual. He
expects 13 or 14 named storms,
six or seven of which will strike
the US coast.

Bastardi said the Texas Gulf
coast is twice as likely to be hit
as in an average year and Flori-
da appears four times as likely.

Katrina easily became the
costliest hurricane in US histo-
ry with damage estimated by
the National Hurricane Center
at more than $80 billion.
Indeed, of the 30 costliest hur-
ricanes US history, four
occurred in 2005.



@ SENIOR hurricane specialist Dr Rick Knabb monitors the

(Photo: AP/Pat Carter)




development of Subtropical Storm Andrea at the National
Hurricane Center in Miami on May 9

And with a death toll topping
1,500 Katrina is also the third
deadliest in US history, foliow-
ing the 1900 hurricane that hit

_ (Photo: AP/Lynne Sladky)

Galveston, Texas killing 8,000
to 12,000 people and a 1928
storm that claimed at least 2,500

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PAGE 8, WEDNESDAY, MAY 23, 2007

THE TRIBUNE



RT hn. i ae
The further re of Nassau

Fee ALMOST 20 years
private sector leaders
have been seeking to persuade
successive governments to
sanction, if not lead, the revi-
talisation of downtown Nassau.
‘And for almost 20 years the
city has steadily decomposed
into a filthy, traffic-choked slum,
overrun with hucksters and
dope peddlers, offering little of
interest even to those notori-
ously cheap cruise visitors.

In fact, cruise tourism to Nas-
sau was down almost 12 per
cent last year, compared toa2
per cent drop in air arrivals —
an indication that the seaport
ig even more of a disincentive
than the airport.

And it certainly begs the
question of how the Ministry of
Tourism can talk incessantly
about “improving our product”
to-attract more business while
the capital city (and main desti-
nation) remains a big, suppu-
rating mess with no attractions.

' As those of us over 40 can

recall, it wasn’t always so. Back

- then Bay Street was a big tourist

draw, as this account by archi-
tect Pat Rahming recalls:

. “Within the city, the peculiar
architecture, arranged along
narrow, shaded streets created a
stale, texture and display of
ctaftsmanship that made the
experience of Nassau unique.
Nightclubs, some of them open
to the sky, shared Bahamian
music, dance and entertain-
ment. Straw vendors made the
craft of the Bahamas available

to visitors. By being a city of
strong attractions, the city itself
was an attraction. But that was

; yesteryear.”

‘We could add that the colour-
ful history of the town made it
an omnibus attraction — from

» Columbus to piracy to the
American Revolution to the US

Civil War to African culture to -

. bootlegging to small-time colo-

“nial pomp to an independent
‘multiracial democracy. What
‘more could you ask?

B ut today, history is
overlooked, and many
‘of the best examples of Bahami-
an architecture have either been

déstroyed or are deliberately
left derelict. Bahamian restau-

rants have been replaced by fast
food outlets, nightclubs and
shows are a distant memory,
our culture has been reduced
to a weekly rush-out at the
Marina Village on PI, and his-
toric ditstricts are threatened
by thoughtless development.
The demolished mid-19th
century Royal Victoria Hotel
and its once-stunning tropical
gardens are now just a series of
government parking lots.
Derelict buildings are scattered
throughout the town — both on



For almost 20
years the city has
steadily decomposed
into a filthy,
traffic-choked slum,
overrun with
hucksters and dope
peddlers, offering
little of interest

‘even to those
‘notoriously cheap

cruise visitors.
EEG Ss ee

and off the main streets. And
the central marketplace is just a
big hole in the ground.

So the question is, why pay
to visit Nassau? The answer is:
Paradise Island. And since Nas-
sau benefits parasitically from
Sol Kerzner’s Atlantis Resort
with its clean, safe environment
and well-run attractions and
entertainment, why don’t we
just cut our losses and shut Bay
Street down in its present form?

Well, you will be interested
to know that plans have been
in the works for years to do just
that

QC) the decades the
government has hired

droves of foreign consultants at
great expense to advise us on
this point. And they have all
concluded that the best solution
is to move the seat of govern-
ment to the remote. southwest
tip of the island.

This plan has several advan-
tages. First, it would eliminate
all those blue-plated limousines
and accompanying outriders

Visit our website at www.cob.edu.bs - Er

EDUCATI ING

1. Register early for these rare development
, opportunities in pastry making for professionals,
| | students, entrepreneurs and pastry enthusiasts!

from our congested city limits.
Second, it would re-route the
police buses that scream
through rush-hour traffic twice
a day taking prisoners from Fox
Hill to downtown courts for the
further adjournment of their
cases. And third it would reduce
the number of lawyers swag-
gering around town trying to
evade their clients.

We could then complete the
far-sighted conversion of the
city into a freight terminal,
which would enable us to
import more stuff more prof-
itably — stuff that will later be
transported to help fil] the
dump in the centre of the island,
not to mention the holes where
our hills used to be. Sidewalks
will be removed to allow big-
ger, more emission-producing
trucks to navigate our narrow
streets during daytime hours.

Our architects, engineers and
contractors could then be enlist-
ed to renew the city by razing
those old buildings that are sim-
ply cluttering up the landscape
to erect modern and efficient
freight offices and paved con-
tainer lots. The 19th century par-
liament buildings would become
the headquarters of the Port
Department. And special bus
tours could be arranged to show
tourists how we offload cargo.

Meese parlia-
ment, the cabinet

office, the courts and govern-
ment ministries would find a
pleasant new home at Clifton,
with easy access to a national
park where our politicos and
lawyers could get back to nature
and reflect on our thousand-year
history. Traffic would naturally
flow from the heavily populated
northern districts out to Clifton,
reducing congestion in the port
area and making it easier for
shippers to get to their jobs.
Serious questions have been
raised about the cost of convert-



ing Nassau to a full-fledged
freight port. Some say it could
raise the cost of living — but oth-
ers point to the benefits. For
example, all of our politicians
would be isolated at Clifton while
the more productive sectors of
society get on with the business
of importing more goods.

And by leveling Bay Street,
we could recover the space to
build a modern port facility that
everyone could be proud off.
Retailers would move to new
malls in the centre of the island
— stripping the useless pine
forests. And a new bridge
would be built from the Prince
George Wharf to divert cruise
visitors to Paradise Island. It’s
the perfect solution for all of
our development problems.

sis ofs ae a ois 2k 2 2 ok

TL picture is not as far-
fetched as it seems.

Modern efforts to plan the
development of Nassau date
back at least to 1971, when an
earlier generation of foreign
consultants recommended the
familiar formulas — a pedestri-
an-only Bay Street, preserva-
tion of the city’s architectural
character, and designation of
historic landmarks like the Roy-
al Vic and the Public Market
(both of which have since been
destroyed).

That was also the first time
we considered moving the cargo
port from Nassau harbour. In
1995, an earlier Ingraham
administration acknowledged
this priority: “In principle the
government would like the pri-
vate sector to use a substantial
part of Arawak Cay for a ship
facility,” the prime minister said
at the time.

The rationale was that by
doing so, shipping-related activ-
ity would be decreased on Bay
Street, making high-priced
waterfront property available

for tourist development.

Arawak Cay is a 95-acre
island created when the harbour
was dredged in 1966 to expand
cruiseship access. It remained
vacant until 1972 when the gov-
ernment built a freight ware-
house which operated as head-
quarters for the Customs
Department until the early
1980s. By then, lack of mainte-
nance led to staff walkouts and
the facility closed soon after. It
remains a garbage-strewn ruin
today, presenting hundreds of
thousands of cruise visitors with
a preview of what they can
expect from their Nassau
stopover.

Meese the con-
tainer ports have

been allowed to expand along
the eastern half of Bay Street,
destroying other commerce in
the process. Multitudes of heavy
trucks spewing noxious fumes
are the feature attraction.
There have been several pro-
posals over the years to move
the freight port to Arawak Cay.
According to Neil Sealey, author



The broad private
and public sector
consensus is that
little can be
done with the
redevelopment of
Nassau unless the
freight facilities are
removed from the
equation.



of text books on tourism and the
environment, "the port for car-
go has no justification for
remaining downtown and cer-
tainly not for expanding there.
Every aspect of this activity is
in direct conflict with the most
economic use of what is some
of the most valuable real estate
in the Caribbean region.”

But Arawak Cay is not the
only proposed site for a new
cargo port. Others have includ-
ed Clifton Cay (now a national
park), Bonefish Pond (a wet-
land east of Adelaide), Coral

Harbour and the current
favourite — the area at Clifton
sandwiched between the BEC
power plant and Common-
wealth Brewery. All have tech-
nical and environmental issues
as well as financial risks. A
decade ago the Inter-American
Development Bank put a price
tag of $200 million on a move to
Clifton, and the cost will be
even greater today.

As one recalcitrant shipper
we spoke to said: “Where is the
money coming from to do this?
Moving from a free natural har-
bour to a costly man-made port
would produce a huge rise in
cost of living. And a port in the
southwest would be unusable at
least 10 per cent of the year due
to weather. Moving freight to
Marathon area warehouses
would increase traffic conges-
tion. And if a railway was built
that would only add to the cost.”

S: the Dutch port con-
sulting firm, Ecorys, was
recently contracted at a cost of
$350,000 (split between the pub-
lic and private sectors) to con-
duct another feasibility study
on moving the container port
to Clifton. Their report is °
expected in June.

But the broad private and
public sector consensus is that
little can be done with the rede-
velopment of Nassau unless the
freight facilities are removed
from the equation. It has tak-
en almost two decades of lob-
bying, studying, whining, con-
sulting and pleading to arrive
at this point.

What’s the alternative? The
most realistic picture is pre-
sented in the first part of this
column. As Pat Rahming told
Tough Call:

“If it weren’t so real, it would
be funny...the need for thought

-about both the function and

meaning of the downtown can’t
be overemphasized. That is
where the lagacy of the nation is
recorded. We can’t continue to
find excuses, and simply shake
our heads. It is both cultural
and economic suicide.”

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



THE COLLEGE OF THE BAHAMAS
eRe a eee ee Mc

Industry Training Department is pleased to announce



Thursday, May 17
Plated Desserts

CHMI Main Kitchen
Professionals

Max. 24

Fees: $100.00 (Student)
$ 175.00 (BHA)

$200.00 (General Public)

Friday, May 18
Specialty Cakes
CHMI Main Kitchen
Professionals
Max. 24

Fees: $100.00T
$200.00 (BHA)
$225.00 (General)

student)

Monday, May 21

Basic Cake Decoration
CHMI Main Kitchen
General Public

Max. 24

Fees: $100.00 (Student)
$185.00 (BHA)

$210.00 (General Public)

Thursday, May 24
Marzipan

CHMI Main Kitchen
Students

Max. 60

Fees: $100.00 (Student)
$250.00 (BHA)

$275.00 (General Public}

Friday, May 25
Advanced Petit Fours
CHMI Main Kitchen
Students

Max. 60

Fees: $100.00 (Student)
$225.00 (BHA)

$250.00 (General Public)



NASSAU, NEW PROVIDENCE

Tuesday, May 22

Max. 24

$225.00 (BHA)

Wednesday, May 23
Plated Desserts
Best Westin Hotel

Public
Max. 24

$175.00 (BHA)

more sessions.

Session Details

pastry tools





GEORGETOWN, EXUMA
Advanced Petit Fours

Four Seasons Sugar Kitchen
Professionals & General Public
Fees: $100.00 (Student)
$250.00 (General Public]

FREEPORT, GRAND BAHAMA

Students, Professionals & General

Fees: $100.00 (Student)
$200.00 (General Public]

10% discount will be granted to
persons who register for three or |

e Materials will be provided
e Participants are to bring small

e Continuing Education Units will
be granted for all sessions.
CEU's accepted by the American
Culinary Federation

Professional Pastry Workshop Series
Featuring Certified Master Pastry Chef Bo Friberg of California

May 16-25, 2007

All sessions 8:30 a.m.







CHEF BO FRIBERG is a certified
Master Pastry Chef with over 40
years of professional experience

in the industry and has taught
baking and pastry courses to all
levels of students - from beginners
to seasoned professionals - since
1978. Chef Bo [as his students call
him] currently holds the position

| of Department Chair of the Baking
|) and Pastry Programme at the
Professional Culinary Institute in
Campbell, California. He graduated
.| from the Confectionery Association
4 School of Sweden and holds a

4 degree as a Master Confectioner.

§ He has worked in both small shops
j and large retail and wholesale

“A operations in the United States |

FT RE RT NT

and Europe, and was Pastry Chef
for Swedish American Lines
Cruise Ships. In addition, he has
demonstrated his pastry artistry

| on television shows Including

the two highly acclaimed public
television series Cooking Secrets
of the CIA, and Cooking at The
Academy, as well as NBC's Today
Show and the locally produced

| Bay Cafe. Chef Bo's celebrated

| cookbook The Professional Pastry
Chef, has now been revised to its
Fourth Edition, with the expanded
material divided into a two-volume
set, Fundamentals of Baking

| and Pastry and The Advanced

| Professional Pastry Chef.

eis




12:30 9.



Stole itl eat-in Com Cl

and to reserve your space

contact

Monique Butler, CHMI
BlReY ely Wey seed Yet LI


THE TRIBUNE WEDNESDAY, MAY 23, 2007, PAGE 9





UNDER THE STARS
FESTIVAL 2007

GALA CONCERT

Saturday - June 16 - 2007 - 7:00 P.M.
The College of The Bahamas 4
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and The 30-Member



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Denne CORN Memst te neta Monte



hice
PAGE 10, WEDNESDAY, MAY 23, 2007

Fk $80m Forces prepare for the

opening of the House.































was Clear frord Mr] reuson’s
criticism of 4$3.1 thillion cén-
tract for thé: building ofa
school in *Acklins: that the
“no pain” in

victimising the people. whé live

there by not 4 owmg that con-
tract to go, through 2
“Now, it. ae ‘lear frat.

aithealty in patios the
people of Aciiits by refusing

standard aia

exists in Nas
How dare-

having: “ge r
the bounda: iés

boundari
refused to












ee Hits
» He said altho

‘defends

ntracts signed —

. Bahamians and have just as
- Much right to a new school as

any other Bahamian. This is
representative of the mean-
spirited nature of the FNM.
The PLP will not stand and
allow the FNM to victimise
the students of Acklins.

“It is also obvious that Mr
Ferguson does not understand

_that a government has a right

to issue contracts and that a
new administration does not
have a legal right to either sus-
pend or terminate the con-
tracts simply because they
were awarded by the previous

‘administration. This is wrong
; ‘-and it is a dangerous prece-
dent that is being set by this

government. Mr Ferguson has
a duty to explain to the public
why he has access to the files

of the Ministry of Works.
“He has to explain why he

son mocks PLP |
sion on seats

~ over (and) declared the FNM

the winner.
“T believe he was right when

he did it then and believe he
- will right when it is over in the
-courts,” he said.

Senior PLP strategist Valen-
tine Grimes told The Tribune
on Monday that his party may

be contesting the constituen-
ucies of Pinewood, Blue Hills.

‘Golden Isles, Sea Breeze and
Marco City.
These constituencies are

. represented by two Cabinet

Ministers — Carl Bethel and
Sidney Collie — and three Min-

.-isters of State — Zhivargo

Laing, Charles Maynard and
Bryan Woodside.

Mr Grimes said his party’s
legal team for the election
court will be headed by PLP
MP for Cat Island and San

has access to information that
has not been put in the public
domain by the Minister of
Works or a minister of the
government; and certainly he
must explain why a party offi-
cial of the FNM would be
privy to official records of the
government.

“Ministers recently took an
oath of office. Has the Minis-
ter of Works forgotten that
oath already? This is a serious
matter and one that may well
require further investigation,”
he said.

Mr Rigby added that if Mr
Ferguson had proof of any-
thing illegal or improper about
the contracts awarded by the
former PLP government, he
has a right to make that infor-
mation public.

Otherwise, “he should mind
his business”, he said.

Salvador, Philip “Brave”
Davis, and is expected to
include Bahamas Bar presi-
dent Wayne Munroe, Neville
Adderley and Gregory Moss.

FNM vice-chairman Mr
Ferguson said that his party
has not yet selected its legal
representation because it has
more pressing matters to
attend to, namely “pulling the
country back together.”

“The FNM at this time has
made no plans for election
court, if it becomes necessary
we will, but today we are not
looking in that direction at all,
we are trying to pull the coun-
try back together.

“It (the country) was left in
shambles and the Bahamian
people will get the facts as
they become available,” he
said.



THE TRIBUNE

Mf The police honor guard ainetice for the opening of the Senate and the House
(Photo:Felipé Major/Tribune staff)

Engineer denies BOOuIE
problem is significant _

same kind of physical charac- -

FROM page one

most recently, not returned Tri-
bune phone calls or, according
to reports, other media houses’
written questions relating to
flooding.

This comes as members of
the public have responded to
the recent stormy weather, indi-
cating that they are fed up with
the state of the roads and want
action to be taken.

Motorists questioned at the
roadside yésterday, said that
heavy rainfall often created
major problems for drivers and
pedestrians.

Michelle Deleveaux, 32, of
Cable Beach said: “I’m disgust-
ed by the flooding, | think it’s
high time the government gets
its act together. This is the third
term in office forthe FNM and
they should make this a priority.
Too many people are suffering,

‘ cars are hitting unseen potholes,

houses are being affected by this
— it’s ridiculous.”

Meanwhile, George Cox, said
that the government either does
not listen to the public’s con-
cerns about flooding, or does
not care.

. “It’s a serious problem. They
need to unclog the drains, they
need to do something — change
the drainage system, do some
more engineering on it so the
water actually goes to the drains,
or something!” added Frederick
Coakley, from Fox Hill.

A mother from Pinewood
complained that her children
often have to wait until they are
on the school bus before they

put their shoes and socks on
because flooding can be so deep
in the area after heavy rainfall.

“Since the time I was living
there, which is 1990, nothing’s
been done,” she complained.

According to Mr Barrett, in
some cases, drains were put in
place when there was less devel-
opment in the area.

“One has to realise that with-
in a time when a development
goes in you cater for certain run
off, and then as more develop-
ment takes place you’d have
more run off,” he explained.

This means that whereas pri-
or to more buildings going up
water would be absorbed into
the ground, or into the avail-
able drains,

conéreted: o



less open ground or drainage is
available to absorb it.

Mr Barrett said that when the oa

tide is high, the capacity of some
drains is affected, as they are in
certain cases connected to the
ocean.

These are several of the ways,
combined with often intense
rainfall, in which the circum-
stances in New Providence
make it such that collecting
water cannot be avoided, he
suggested.

Asked why other countries
with a lot of rainfall, such as
England, have the capacity to
cope with rain to the extent that
flooding on streets is largely

» avoided, Mr Barrett suggested

that if a country does not have
such a problem it is to do with it
not “necessarily having the

sithe ground is _“of what is ‘heavy’.
‘more run offis. ..~

‘created, while at the same time —

r*e%e



teristics and drainage system”
as New Providence.

“What is it you’re comparing®.
is it oranges and apples, or’

apples and apples?” asked Mr "

Barrett.
He claimed that,.as he ere
stood it, England has lighter but

more regular rainfall rather

than the short bursts of intense
rainfall the Bahamas often

experiences, perhaps easing the,

1
i)

‘
,

burden on that country’s drains. '
When asked whether it would .
not be impossible for the ,

Bahamas to develop a system

that could cope with its heavy |:
rainfall, Mr Barrett responded.

“We come back to the subject

299

“One has to expect a certain,

if rain comes, a certain incon- ,

venience within a period of

i
4
'
|

time. There’s a certain what you *~

might call ‘tolerable’ period of
time,” he stated.

1

According to the engineer, «

he personally inspected several.

areas during storms last week ,

and found flooding to have
occurred, but was subsequently

satisfied that it had “subsided .
down within a reasonable peri- :

od of time.”
Queried as to whether twen-
ty-fours hours was not too long
for flooding to remain, Mr Bar-

rett said that it depends where |

the flooding has occurred.

The Tribune was informed
that Director Melanie Roach is
out of office until Thursday.

Attempts to contact Works

4

Minister Earl Deveaux, were.“

also unsuccessful yesterday.

NOTICE

There will be an urgent
membership meeting with the
Field Director for all

registered members and followers of
FAITH TEMPLE MINISTRIES
INTERNATIONAL

on

Thursday, May 24, 2007

at 7:30pm

at the Family Life Centre,
Prince Charles Drive


THE TRIBUNE

5s

Ao

WEDNESDAY, MAY 23, 2007, PAGE 11%:









New dolphins at Atlantis named
memory of Katrina and Butc

in

IT’S official - ‘Missi’ and
‘Runner’ are the names of the
newest members of Dolphin
Cay, the new dolphin interac-
tion and education centre at
Atlantis on Paradise Island.

Born in April, 2007, the dol-
phin calves are the first off-
spring from the famed rescued
“Katrina Dolphins”.

Missi and Runner were born
to 32-year-old Kelly and 21-
year-old Michelle. Both parents
and kids are acclimatising well
at their new home at Dolphin
Cay, their handlers say.

The names of the dolphin
calves are significant to Atlantis.
‘Runner’ represents a passion
of the late Howard ‘Butch’

Kerzner, former chief executive
officer of Kerzner International

= KELLY with her calf Runner

First calves at Dolphin Cay doing well, report staff

MISSI swims with her mother Michelle

& MISSI and Runner with Kelly

ot
thoy

(Photo: Tim Aylen)"’

Jour

nae

inet



suite



n



who loved running.

As a symbol of this, a spe-
cially designed pin featuring a
pair of running shoes was pre-

sented to persons attending a

special memorial in his honour
last year.

“We felt the name Runner to
be symbolic of Butch’s love for
running and his passion for
life,” said Teri Corbett, vice-
president of marine mammal
operations at Atlantis.

“In addition, the name ‘Missi’
is short for Mississippi, the ori-
gin of the Katrina dolphins,
which I am sure will no doubt

offer renewed hope to persons
of the Gulf Coast region who
were adversely impacted by
Hurricane Katrina in August,
2005.”

Kelly, Michelle and 14 of
their fellow Dolphin Cay resi-
dents were stranded when their
former home at the Marine Life
Oceanarium in Gulfport, Mis-
sissippi, was destroyed during
Hurricane Katrina.

After being rescued and
nursed back to health, all of the
dolphins were eventually trans-
ported to Atlantis to fully recov-
er and reside in the new state-

of-the-art habitat which features
11 interconnected pools con-
taining nearly seven million gal-
lons of seawater.

Atlantis says the successful
recovery of the Katrina dol-
phins and subsequent births of
the dolphin calves isa testament
of the high level of care and
attention provided to the dol-
phins, who receive round-the-
clock care by more than 55
marine mammal specialists.

“The births were very impor-
tant to us. It was a symbol to
us that the animals had adjusted
well to their new home and

were ready to begin their new
lives and continue growing their
families,” said. Corbett.

The calves are reportedly

developing into strong, healthy
dolphins, who spend their time
nursing and playing. “Just over
a month old Missi appears to
be very independent. She is also
very plump. Runner sticks close
to Kelly’s side but both are
developing personalities of their
own,” Corbett said.

Dolphin Cay will serve as the
only live marine mammal res-
cue arid rehabilitation centre in
the Bahamas. The facility was

recently granted accreditation,
by the Association of Zoos and

. Aquariums (AZA) indepen-

dent Accreditation Commis-
sion. Me

As part of the accreditation
process, Atlantis underwent
thorough investigations to
ensure it has and will continitfe
to meet ever-rising standards,
which include animal care, vet-
erinary programmes, conserva":
tion, education and safety. 113

Atlantis, Dolphin Cay, wass
also recently accredited by thé?

-Alliance of Marine Mammal

ae

Parks and Aquariums. a

wu

Elderly receive healthy living tips

Owe

THE Department of Public Health visited the Persis Rodgers Home in Oakes Field last Thursday in an effort to promote healthy °°
lifestyle among the elderly.

ran

(All photos: Raymond A Bethel)”



@ NURSING officer Terry Rolle (left) administering a Hepatitis
B vaccine to 80-year-old Enil Hanna, a resident. Gloria Gardner,
principal nursing officer at DPH, observes. :



\

@ SHANDERA Smith, DPH nutritionist (far right),
demonstrating some of the simple exercises that the residents
can do daily

a

li FROM left, Registered Nurse of the Year Kimberly Josey,
residents Nelly Brown and Dorothy Brown, senior trained
clinical nurse Inetta Butler and trained clinical nurse Erica
Humes :



a celebration of nature |

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



— = : RULES

B'CHARLENE Bain, DPH family care practitioner, exercising 1 Family Guardian’s Annual Calendar Photo Contest is open to all photographers. The title for the company’s 2008 calendar will be

with Henry Kemp, 94. “A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in |

: The Bahama Islands. All photographs must be taken in The Bahamas.

2 DEADLINE FOR ENTRIES IS MAY 31, 2007. <

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

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

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

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

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

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

9 The winning photographs, along with all publication and reproduction rights attached thereto, become the property of Family Guardian and the company
reserves the right to use such in the future. ‘

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

11 Previously published photos are not eligible.

eee ee ee ee

2008 CALENDAR PHOTO CONTEST ENTRY FORM

:
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Photo by Tim Higgs
Family Guardian's i NAME .......ccccccccccssccosccscoscsscosscssscescescceccsccssssccesseacenensssanesnerseseenseneesaconsenssonessesseseesese store j
i TEL BUSINESS: désiccsivwesnsawoniutadine HOME.......s-sssssseessssessvessecsnecsnsetsnecssieseey J
5 POW BOR viecdcescctectce: STREET ADDRESS visiss-ses--sccccessesssscsessssessseasssratassenccusnonnteertss i
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DAT Bice cccessstdlcsonsessceneersiveds NUMBER OF PHOTOS ENTERED................-- (maximum of 5) i
i | agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family |

Guardian Calendar Photo Contest it wll become the property of Family Guardian Insurance Co. Ltd., and
| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the
photos entered in this contest were taken in The Bahamas by the undersigned and have not been

Return with antec AMI LY i !
UARDIAN I

Calendar Contest, Family Guardian
Corporate Centre, Village & Eastern Road

INSURANCE i
COMPANY

Roundabout, Nassau, Bahamas
" i ENTRY DEADLINE: MAY 31, 2007

Mh emmy mses cede cmt el

ABACO & ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232






oy

SALES OFFICES: NASSAU,

x.

@ TRAINED clinical nurse Mildred San
73-year-old Pearl Moxey’s hair

ds is shown braiding

Dg eae ene us
PAGE 12, WEDNESDAY, MAY 23, 2007

PLP members of th
enate are sworn in





@ THE Governor General making ronal in front of a
crowded throne room filled with PLP supporters



i LEADER of the Opposition i in the Senate, Allyson
Maynard-Gibson, receiving her instruments of appointment
from Governor General Arthur Hanna



@ LEFT to right: former Attorney General, Senator Allyson
Maynard-Gibson; husband Maxwell Gibson; Senator Pleasant
Bridgewater; Senator Jerome Fitzgerald; Senator Hope
Strachan; and husband Douglas



@ LEFT to ae Shane Gibson, former Minister af Immegration,
Sean McWeeney of Graham Thompson and Co., Emanuel Alex-
ioux of Alexioux, Knowles and Co. and Perry Christie former
Prime Minister and Leader of the Oppostion

THE TRIBUNE



a LEADER of the Opposition Perry Christie saneeniglaane his

new Senate team



RICHARD Parker shakes hands with Dr Bernard Nottage,
newly named leader of Opposition business in the House of

Assembly

(Photos: Franklyn G ee

New York judge kills plea deal for ex-Haitian
strongman on grounds charges too serious

n find them all in

TM.





ome

hae A A ce seme rere tt

BT€ Directory Publications
eae | NASSAU =322-9183-7 ¢ FREEPORT - 352-2336-8
FAMILY ISLANDS -1-242-300-1997

www. btchahamas.com







m@ NEW YORK

A NEW York judge denied a
plea deal for a former paramil-
itary leader on Tuesday, saying

criminal allegations against him”

in Haiti were so serious he does

not deserve a break in his local >

bank fraud case, according to
Associated Press.

Charges that Emmanuel
"Toto" Constant ordered
killings and torture in the
Caribbean nation in the 1990s, if
true, "are heinous, and the court
cannot in good conscience con-
sent to the previously negotiat-
ed sentence," State Supreme
Court Justice Abraham Gerges
said in a written ruling.

Constant, 50, who has lived
in the United States for more
than a decade, pleaded guilty
earlier this year to second-
degree grand larceny with the
understanding he would be sen-
tenced to one to three years in
prison.

Last week, lawyers for the
state attorney general's office
and the U.S. Department of
Homeland Security had urged
the judge to reduce Constant's
sentence to time served — about
10 months — to speed his depor-
tation to Haiti.

The Center for Constitution-
al Rights had opposed the deal,
telling the judge that Haiti's jus-
tice system was too chaotic to
ensure Constant would face jus-
tice. The civil rights group also
argued the proposed sentence
in the fraud case was too
lenient, given his history.

The decision by Gerges
means Constant will be forced
to withdraw his plea and stand
trial on charges he defrauded
lenders out of more than $1.7
million. If convicted, he would
face five to 15 years in prison.





B@ EMMANUEL Constant

"Today's ruling was a victory
for Constant's victims, both in
Haiti and New York," said Jen-
nie Green, a senior attorney
with CCR.

Constant's lawyer, Marie
Pereira, did not immediately
return a phone message.

In court on Monday, Pereira
called the allegations in Haiti
"frivolous" and argued they
should have no bearing on the
fraud case. The defendant also
told the judge there was no evi-
dence that could "link me to
any type of massacre, execu-
tion, kidnapping, rape or any-
thing of that sort."

Constant, the son of a mili-
tary officer, emerged as the



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

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

Share your news

feared leader of the Front for
the Advancement and Progress
of Haiti, or FRAPH, after Pres-
ident Jean-Bertrand Aristide's
presidency was toppled in 1991.

Human rights groups allege
that between 1991 and 1994,
FRAPH terrorized and slaugh-
tered slum-dwellers loyal to
Aristide. When Aristide
returned to power in 1994, Con-
stant fled to the United States.

Despite a 1995 deportation
order, Constant was allowed to
remain because of instability in
Haiti. He kept a low profile, liv-
ing with relatives in New York's
Queens borough until being
jailed last year in the mortgage
fraud case.













‘%% eee
The Tribune





ss a

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NASSAU OFFICE eye
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WEDNESDAY, MAY 23, 2007

SECTION







business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street







Grand Bahama firm in
China distribution deal

@ By NEIL HARTNELL
Tribune Business Editor

major Grand

Bahama

wholesaler has

“just signed” a

contract seal-

ing a three-way tie-up with

Mediterranean Shipping Com-

pany (MSC) and a $6 billion

Chinese conglomerate, its pres-

ident and chief executive yes-

terday telling The Tribune it

will pave the way for the com-

pany to distribute the Chinese

firm’s electronic and other

products throughout the West-

ern Hemisphere’ from
Freeport.

Roy Deffler, head of Inter-

national Distributors of Grand

Bahama, a subsidiary of US

* Associated Grocers subsidiary ‘just Sioned three-way contract with
Mediterranean Shipping Company and $6bn Chinese group, CITIC

* Freeport facility to ‘surpass our distribution out of Florida’
* Architect working on Phase II 200,000 sq ft warehouse expansion

grocery wholesaler Associat-
ed Grocers, said the contract
with MSC and CITIC, the Chi-
nese state-owned company,
could “involve a lot of things”.

He added that he was due
to visit China on June 1, and
during his visit would learn
“more of what we’ll do initial-
Ly?

The three-way venture is
likely to involve MSC shipping

Government to review
all the labour laws

By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

SENATOR Dion Foulkes,
minister of maritime affairs
and labour, said yesterday that
the Government will be exam-
ining the current labour laws
with a view to making amend-
ments and introducing new leg-.
islation where needed.

“We are reviewing all of the
five Bills that were put in par-
liament [by the first Ingraham
administration] - three were
enacted and two were not,” Mr
Foulkes said.

“We are going to look at
them to the extent that the
ones that were enacted may
have to be amended, and look
at the other two to determine
what is the earliest possible
time that we can have them
implemented. We are review-
ing all of the labour laws with
the view of making some
changes.”

The five Bills Mr Foulkes is
referring to are the. Trade
Union and Labour Relations
Bill, the Industrial Court and
Trade Disputes Bill, the
Employment Act, the Mini-



H DION FOULKES

mum Wage Act and the
Health and Safety at Work act.
The first two were shelved
back in 2001 and have never
been revisited, while the other
three were passed by the for-
mer FNM administration.

_ Shortly after being sworn in
as minister, Mr Foulkes had
told The Tribune he would be
moving to bring about the
implementation of the Inter-
national Labour Organisation’s

SEE page 8

Foreign price competition
hits bottled water suppliers

@ By NEIL HARTNELL
Tribune Business Editor

BAHAMIAN bottled water
companies yesterday told The
Tribune they were unable to
compete on price with import-
ed foreign-produced water on
smaller-sized bottles, as some
expressed concerns that this
nation could be used as a
‘dumping ground’ for poorer
quality imports due to the
absence of health regulations
and their enforcement.

Alex Knowles, Aquapure’s
managing director, said that
due to the lower operating
costs faced by foreign bottled
water producers, major
Bahamas-based retailers and
wholesalers found it cheaper
to import the smaller-sized bot-
tles from US wholesalers and
suppliers than purchase locally.

He explained that a pack of
24 12-ounce bottles produced
by major brands could be pur-
chased in the US for $3 by a
Bahamian wholesalaer or
major retail chain.

Even paying import duties
at a rate of 72 per cent, it was
cheaper for them to import
these bottled water cases. as

Bahamian firms unable
to compete on smaller
sizes, with some saying
absence of health
regulations and
enforcement could
expose nation to
‘dumping’ abuse

Bahamian water producers
priced the same-sized case at
between $8.50-$12 per case.

Mr Knowles said that Aqua-
pure was “hopefully going into
the business” of shrink wrap-
ping eight to 12-packs of bot-
tles within the next four weeks,
but pointed out that they went
‘head-to-head’ with imported
bottled water, and could not
compete on price.

“They're in direct competi-
tion with us,” Mr Knowles said
of foreign-produced bottled
water. adding that it eroded
the Bahamian bottled water

SEE page 11

CITIC’s products to Interna-
tional Distributors’ Grand
Bahama-based warehouse,
which is located in the Sea/Air
Business Centre. From there,
International Distributors will
turn the products around and
re-export them to clients
throughout the Hemisphere.
CITIC had previously signed

a Memorandum of Under-

standing for the establishment

ofa major 50-acre distribution
facility in February 2005,
involving exhibition, show-
rooms and warehousing at the
Sea/Air Business Centre.
These plans were put on hold,
but its interest in Grand
Bahama has not diminished.

The deal is likely to prove a.

tremendous boost to the
Grand Bahama economy, and

- the efforts of the Grand

Bahama Port Authority
(GBPA) and its major partner,
Hutchison Whampoa, to posi-
tion Freeport as a distribu-
tion/transhipment hub for the
Western Hemisphere, aided by
the absence of import and
export taxes under the Hawks-
bill Creek Agreement.

The success of International
Distributors’ venture is also
likely to encourage other

major wholesale and distribu-
tion companies to base them-
selves in the Sea/Air Business
Centre, once they see the suc-
cess of the US-owned firm’s
business model.

Mr Deffler told The Tribune
that construction work on
International Distributors’ first

SEE page 10

Banks: Bahamas has ‘best tourism growth potential’

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas has been ranked as the
Caribbean nation with the “greatest
tourism growth potential” by the region’s
major financial insitutions, a KPMG sur-
vey has revealed, providing a major boost
for the industry at a time when concerns
about its competitiveness persist.

The survey, presented at last week’s

Caribbean Hotel & Tourism Investment -

Conference (CHTIC) in Curacao, found
that 50 per cent of banking respondents
ranked the Bahamas as having the great-
est growth potential in the Caribbean
tourism and hotel industry, with the Turks
& Caicos Islands close behind.

The KPMG survey said: “Of the local
financial institutions surveyed, half of
respondents agree that the Bahamas, with
its historically strong tourism product, has
significant growth potential.

“As the market for condo hotels in the
region continues to grow, regional lenders
are becoming more optimistic about the

Patricia -
Real Estate Agent

Some 50 per cent of financial institutions in KPMG survey rate
this nation as ‘having the most potential for growth in the region’

- growth and sustainability of such projects.

“While concerns over the US economy
and the softening of the housing market
increase, the outlook for condo hotels is
even more optimistic than last year, and
multi-use properties continue to grow in
popularity.”

The KPMG survey, which was present-
ed at the conference by Bahamas-based

partner and regional director of the com- °

pany’s corporate finance arm, Simon Tow-
nend, found that while still optimistic
about the increasingly popular condo
hotels, there was now greater focus on
condo ownership, rental pools and frac-
tional ownership options.

While the Bahamas and the Turks &
Caicos Islands were “‘viewed as having the
most potential for growth in the region”,

_ the KPMG survey added that 44 per cent

of banking respondents rated the Domini-

can Republic as a front runner, just pened.
this nation.

Among the banks and institutions that iS
responded to the survey were Bank of
Butterfield, FirstCaribbean International
Bank, Royal Bank of Canada and Scotia-
bank, all of whom have a significant pres-
ence in the Bahamas. Between all those
surveyed, they had a total tourism sector
exposure of $2.6 billion.

The financial industry’s assessment of
the Bahamas’ growth potential is likely

to have been influenced by the sentiments -~ oe

of organisations such as the International
Monetary Fund (IMF), which reported
that some 53 tourism-related projects val-
ued at $13.6 billion are currently at various
stages of construction”.

SEE page 9

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PAGE 2B, WEDNESDAY, MAY 23, 2007

BUSINESS

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important to me. The Tribune is

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Inagua native named to
hotel executive post

THE TRIBUNE



@ SHERVIN PENN

he operators of

Exuma’s Grand Isle

Resort & Spa have

named Shervin
Penn as the property’s assis-
tant general manager.

Grand Caribbean Resorts
said in a statement that Inagua
native Mr Penn’s promotion,
at the age of 30, makes him
one of the highest-ranking and
youngest Bahamian executives
in the tourism industry.

“We are pleased to
announce the promotion of
Shervin Penn to assistant gen-
eral manager with responsibil-
ity for administration and oper-
ations,” said John Shkor,
Grand Caribbean Resort’s
chief executive and president.

“As operations manager,
Shervin proved he was dedi-
cated, willing to pitch in and
do whatever it takes to pro-
vide a satisfying experience for

y newspaper.”

(Photo courtesy)

our guests.

“We have been so impressed
by the way he inspires staff.
We believe that Shervin truly
understands the meaning of
hospitality.”

Mr Penn earned a degree in
marketing, worked in that field
briefly and then spent. seven
years at'the British Colonial
Hilton in Nassau before joining
Grand Isle, a resort featuring
78 condotel units.

“Seeing satisfied guests and.
learning they can’t wait to
return -- that does it for me,”
said Mr Penn in a statement.

“I am happy that we have
an extraordinary product that
is easy to sell, and we have a
greatteam.” —.- :

Grand Isle, located at the

' highest point of Emerald Bay,

has been ranked number one
of nine resorts in Exuma by -
TripAdvisor.com. ..’

“Infor ative. I can be sure to read something of value in The Tribune. It is filled with

information about local news, sports, entertainment and world news — subjects that are

JASON RAHMING

CONSTRUCTION FOREMAN

Purchase The Tribune from your
local store or street vendor.


_ [BUSINESS



Che AMiami Herald



THE MARKETS

STOCKS, MUTUAL FUNDS, 7B
pow30 ~—-'13,539.95 -293 W
sap500 —«-;s24.iz. -0.98 W
NASDAQ 2,588.02 +9.23 4
10-YRNOTE 483 +04 &
CRUDEOIL ©«-«64.97 130 W

Stocks
flat as
investors
await
catalysts

BY JOE BEL BRUNO
Associated Press

NEW YORK — Wall Street
ended an erratic session little
changed Tuesday as investors
upbeat about the latest round of
takeover activity remained hesi-

_ tant to take the market higher
ahead of new economic data.

While stocks moved side-
ways, Treasury yields rose toa
three-month high.

Investors have viewed acqui-
-sitions as a sign corporate exec-

_ utives are comfortable with the
economy. However, stocks.
failed to gain much momentum
as several deals were
announced Tuesday, including
billionaire investor Kirk Kerko-
rian’s plans to buy the Bellagio
Hotel & Casino in Las Vegas

. from MGM Mirage.

Further direction might
come Thursday, when the Com-
merce Department reports on
durable goods for April. The
report could offer insight into
the health of consumer spend-
ing, which accounts for two-
thirds of U.S. economic activity.

With Tuesday bereft of

“major economic reports, . Wall.
Street was watching talks *
between U.S. and Chinese gov- »
ernment officials about trade
and foreign exchange policy.
Chinese stocks rose to.a fresh
record high’ for the. second day: ©

in a row Tuesday, as investors —

_ there were encouraged by.
expectation$ for a stronger: yuan | '

hous a




The D
fell 2.93, or 0.02: percent, to.
13,539.95.

ow. Jones industrials

Broader stock indexes were
mixed, The Standard & Poot’s
500. slipped 0.98, or 0.06 per-
cent, to 1,524.12. The index, con-
sidered by market professionals
as the best indicator of stock
‘performance, passed its record

close of 1,527.46 on Monday and
again. ‘Tuesday: for the first time
since 2000. However, the S&P
remains well below its trading
high of 1, 552. 87, reached in
March 2000. ° i

“The Nasdaq (aemnposite
index, which has lagged the
other major indexes in recover-
ing from Wall Street’s pro-
longed slump early in the dec-
ade, rose 9. 23,.0r e 36 percent, to
2,588.02.

The Rustell 2000 index of
smaller companies set a record
close after rising 6.27, or 0.75
percent, to 839.92, The previous
record was sét May 9.

Bonds slipped, with the yield
on the benchmark 10-year Trea-
sury note rising to 4.82 percent
from 4.79 percent late Monday,
in part because of a flood of cor-
porate bonds in the market. The
dollar was mixed against other
major currencies, while gold
prices fell.

‘Oil prices backed off their
recent run, with a barrel of light
sweet crude falling $1.30 to
$64.97 on the New York Mer-
cantile Exchange.

Advancing issues outpaced
decliners by a 9 to 7 margin on
the New York Stock Exchange,
where consolidated volume
came to 2.82 billion shares.

Japan’s Nikkei stock average
closed up 0.70 percent. At the
close, Britain’s FTSE 100 was
down 0.46 percent, Germany’s
DAX index rose 0.53 percent,
and France’s CAC-40 was
essentially unchanged.



a,



WEDNESDAY, MAY 23, 2007

CAPTIVE AUDIENCE: Chinese Vice Premier Wu Yi, left, listens as Treasury Secretary Henry Paulson <
speaks at the U.S.-China Strategic Economic Dialogue in Washington, D.C., on Tuesday.

China, U.S. start
new round of talks

BY MARTIN CRUTSINGER
Associated Press
WASHINGTON — The United

States and China opened a new

round of high-level economic talks

on Tuesday with the leader of Chi-

na’s delegation bluntly saying that

any effort to politicize economic
_ differences between the two
| nations was not acceptable.

The Bush administration was
pushing for concrete results to
show to an increasingly restive
Congress, where lawmakers blame
America’s soaring trade deficits
and the loss of one in six manufac-
turing jobs since 2000 in part on
China’s trade practices in such
areas as currency manipulation and
copyright piracy.

The U.S. delegation also raised
the issue of food safety highlighted
by such incidents as the deaths of
pets who had eaten pet food made
with tainted wheat gluten imported
from China.

U.S. Trade Representative Susan
Schwab, who briefed reporters on
_ the discussions, said food safety
_ was raised over breakfast by Agri-
culture Secretary Mike Johanns and

Health and Human Services Secre-

tary Michael Leavitt.

i “They know this is an issue that
concerns us and concerns the
| American people,” said Commerce

TECHNOLOGY

You can design your own cellphone firm

BY BRUCE MEYERSON
Associated Press

NEW YORK — Maybe it’s time to
stop grumbling about your cellphone
company and just start your own.

That’s what Rod Farthing did, at
2:30 a.m. no less. Oh yeah, it took him
just a few minutes to get Farthing
Mobile up and running, replete with a
selection of national calling plans and
cellphone models.

Business is slow so far: Since the
April launch, Farthing has signed up
two subscribers, himself and his son.
But he has two prospects in his wife
and another son.

Well no, Farthing didn’t actually
build a cellular network or develop a
billing system and everything else
that one needs to run a mobile phone
business.

Instead, he created Farthing
Mobile through Sonopia, a new “do-
it-yourself” service that enables
groups and individuals to design
their own cell brands with a healthy
dose of social networking gone
mobile. Sonopia buys air time from
Verizon Wireless to provide service,
a fact hidden by each group’s brand
on the phone’s screen.

“I don’t expect to get rich off of it,”
said Farthing, 50, a self-described
“cellphone junkie” in Toledo, Ohio,
who is tailoring his cell service to
people interested in technology. He’s
also using it for a class project in an
e-business course he teaches at a



Secretary Carlos Gutierrez, who
said the issue would be addressed
more formally in a later session
before the talks conclude on
Wednesday.

In opening remarks delivered i in
an ornate government auditorium
decked out in flags from both
nations, Chinese Vice Premier Wu
Yi cautioned the United States
against pursuing a blame-game.

“We should not easily blame the
other side for our own domestic
problems,” Wu said, speaking
through an interpreter. “Confronta-
tion does no good at all to problem-
solving.”

Wu, who gained a reputation for
tough speaking when she was Chi-
na’s top trade negotiator, said that
both sides should “firmly oppose
trade protectionism.” She said that
any effort to “politicize” the eco-
nomic relationship between the
two nations would be “absolutely
unacceptable.”

Wu and her delegation were
scheduled to meet behind closed
doors on Thursday with key lead-
ers of Congress, including House
Speaker Nancy Pelosi, who has

been a vocal critic of China’s ~

human rights policies. Lawmakers
are pushing a variety of bills that
would impose economic sanctions

on China in the wake of a trade def-_

_ stake that American firms can own

GERALD HERBERT/AP

icit with China that last year hit
$232.5 billion, accounting for one-
third of America’s total record defi-
cit of $765.3 billion.

Treasury Secretary Henry Paul-
son created the Strategic Economic
Dialogue last year as a way to get
the country’s top policymakers
together twice a year to achieve _



results that will ease trade tensions. |)
-” Warfier Music Group, tried to skirt

The first meeting was held in Bei-
jing last December.

Breakthroughs at this meeting
were expected in the area of cutting

tariffs on sales of American energy | s

technology products and services
in China and increasing U.S. airline
passenger and cargo flights to
China.

However, success in another |
area — getting China to boost the

in Chinese financial service compa-
nies — seemed less certain. The
current cap on foreign ownership
of Chinese banks is 25 percent.

U.S. officials tamped down
expectations of any big outcomes,
saying the meetings were not
meant to be negotiating sessions.

But Gutierrez said there was
impatience on the U.S. side. He
spoke of the “need to make prog-
ress in all areas as soon as possi-
ble.”

eis sepsis Shaan eknaticibandubondenanganastmineibannnc dinar ipinabBork









J.D. POOLEY/AP

ALL IN THE FAMILY: Rod Farthing, right, is shown with is son, Kevin, in
Toledo, Ohio. Rob Farthing created Farthing Mobile through
Sonopia, a new ‘do-it-yourself’ service that enables groups and
individuals to design their own cell brands.

local college. “If I get up to 100 mem-
bers I'll be happy. If I get up to 50 I'll
be happy.”

Since Sonopia’s public launch in
early April, about 1,000 of these cus-
tomized cell companies have been
created, including about 100 by the
startup’s employees.

A handful have been launched by
sizable nonprofit groups such as the

supra remanence aermcemremmemremmmmmas





- from the merger of the Sony-BMG
~ Music units more than two years. age
| that the EU is now re-examining. |

for physical CDs declines rapidly, but
tisk trouble with. regulators if they
- pick partners within the. industry as

-to-a $4.7 billion bid from privat
- equity firm Terra Firma — a bid that
‘Inay yet trigger a higher offer front
Warner.

‘) > to-serve our: songwriters, composé:

’~ Jenging marketplace,” said Univer
_ President Zach Horowitz.



National Wildlife Federation, the .

National Parks Conservation Associ-
ation, and the American Medical Stu-
dent Association. Others were
started by sports teams like minor
league baseball’s Long Island Ducks
and the Chicago Bandits of the
National Pro Fastpitch women’s soft-
ball league.

But the vast majority of Sonopia’s

_ BY AOIFE WHITE
taf Associated Press

tors gave Universal Music Group

‘the world’s largest music publishing
company.

only by the companies’ plan to sell’
‘the rights to some hits from the ’80s

_berlake, Iron Maiden and R. Kelly.
~ No. 4 music publishing, catalogs

~. to artists as diverse,as Mariah Carey

~ share, it will scrape ahead of current

artists: suchas, Mary J. Blige ‘a
~ Chamillionaire. That few enlarged

hit list of Rondor but must sell thé
. British arm that owns:
* bands such as "80s chart toppers Dire

‘ lies and tiny groups with very spe-
.‘cialized interests: |

with 13 members, the 10-member











“BRUSSELS, Belgium — EU regula-




clearance Tuesday to. buy BMG









The EU warned, however, that its
“serious doubts” about the deal’s.
effect on online music were soothe







and ’90s by artists such’as Justin Tim.






_ Combining the world’s No. 3 and





give Universal the publishing rights









U2, 50 Cent, Elton John and Leonard’ :
Bernstein. With a 22 percent market.








market leader EMI Group PLC.

EU approval was the last hurdle
for the deal, which Universal said ©
would close shortly. It is separate —























































Music’ companies “have | bee
looking to consolidate as the market

the number of major players shrinks
EMI, which has long flirted with

this problem on Monday by agreeing

Bringing Universal and BMG
under one roof “will create 4 publish
ing business that is even better suited

ak

Universal is the world’s. largest
music company, and its publishii
arm controls the rights to song:

and business partners in this cha



unit will trade under the Universal:
name and will be led by Los-Angel
based David Renzer, the curr
chairman and CEO. .

Universal will-keep the American

+Nf

‘by: m an y

Straits.

growing roster of wireless communi-
ties wete started by individuals, fami-

Thete’s “Aviation History Mobile”

“Mums in Business,” the six-memb
“Bitta Itish Phone Club,” the 13-mem-
ber “Peninsula Skate Crew Mobile,”
and the five-member “Scrabble: 3
Mobile” featuring weekly contests to“ 5
devise the highest-word score with aes
set of letter tiles. | e
Politics, naturally; aren’t off limits, 3
Theré are Sonopias devoted to sup-~
portifig the presidential ambitions of
Senators Hillary Clinton and Barack’ ~”~
Obama. The polls haven’t closed, but _.
the latest tally shows “Obama For)
President Mobile” leading “Hillary ::
Clinton Presidential Campaign” 12 ‘a
members to ten.
While every tiny cell contig’
adds to the bottom line, nonprofit ~~
organizations are a major focus. Son-“*"
opia points to the devotion people ~
show for favorite charities, commu~
nity groups and sports teams as a nat-
ural selling point. A small percentage
of the monthly phone bill kicks back
to the organization, providing an easy ©
way. for menibers to pad their finan"
cial support for a cause.
Sonopia provides tools for each gee
community to share information, ~~
photos and other multimedia content: é
on the phone, as well as a dedicated ©

website.




THE MIAMI HERALD | MiamiHerald.com



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DOW util. 537.12 533.43 533.70 -2.02 -0.38% A A A +16.84% SpectraEn 2651-33 EV 8.25 5.22 ’ 5 a
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Advanced 1786 =. 1932 S&P 500 1529.24 1522.05 1524.12 -0.98 -0.06% A A A_ +7.46% SP Mid 164.91 +19 aon :
Declined 1513 1110 S&P 400 909.55 903.13 907.46 +190 +0.21% A A A +412.82% Staples 25.05 -.62 Commodities COMMODITY CLOSE PVS. %CH. %YTD
New Highs 252 174 Russell 2000 841.38 832.16 839.92 +6.27 +0.75% A A A_ 46.63% Starbucks 29.01 -.27 Unleaded Gas (gal) 2.31 2.40 3.75 +44.2
New Lows 11 41 Wilshire 5000 15418.09 15338.78 15372.80 +1690 +0.11% A A A_ 47.82% StarwdHtl 69.20 +.84 Crude Oil (bb!) 64.97 66.27 -1.96 +6.4
StateStr 68.67 -.21 Gold (oz) 659.10 662.90 -0.57 +38
. Statoil 27.95 -.11 Platinum (0z) 1298.70 1319.70 -1.59 +14.0
WidelyHeldStocks StoraEnso 19.15 +.12 Silver (0z) 12.92 13.06 -1.07 +09
Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg Stryker 67.37 +.21 Coffee (Ib) 1.12 = 1.12 we 113
ABvamo aa faz Boston “ise cn EOGRes = 77.53 -1.00{c "43.59 14 © -NYSEEur 86.41. -.02 Sunltfn g ar 3 sugar aby a 0.09 0.08 aes a4
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AFLAC 52.16 +37 BritSky 5116 -55 EchoStar 4843-113 indotel = 44,00«+.46 «= NtAust «= 175.85 -1.20 © Sunoco 78.11 +.81
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ASMLHId 25.36 +.04 BrkfidAsgs 65.13 +.40 ! : . Infosyss 50.04 +.05 Watttlty 26.87 +03 Supvalu 47.05 +.63 :
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AUOptron 15.87 +11 ~ Bungelt 7957 +.40 oa a ao or Intel 22.99 +36 NatSemi 26.53 -.22 Symantec 19.63 -.16 ‘ Argent (Peso) 3249-0002» -.06 ~=—.3246.. -.0004
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AbtLab 57.69 -94 CAlInc 28.13 +21 Babar Paes i IntCtlHtIrs 26.71 -08 NewellRub 30.90 +38 Synmovus 33.07 —+.50 b Britain (Pound) 1.9751 +.0049 +25 1.9146 +.0879
AberFitc 80.99 -34 CBREllis 37.71 +.01 a Baran a IBM 106.70 -.34 = NewfidExp 47.62 -62 Sysco = 32.90 -.05 Canada (Dollar) 9209-0009 = 10-8765 +.0240
Accenture 3962 04 CBOT- «196.95 +95 FErMNEIS 6.087 Intigame 40.95. +90 NewmtM «38.77, =.68, TD Ameritr 18.81 +44 FM chile (Peso) 001902 -,000017 89 .001889 +.000014
Adecco 18.06 CBSB 3282 -.02 Enbrid es Gi IntPap 38.81 -.01 NewsCpA 2239 +.06 DK 90.28 -.67 Colombia (Peso) .000511 +.000008 +1.57 .000437 +.000111
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AML 1542-01 CHRobins 5209-37 - eee Intuit s 30.97 -24 Nexengs 3044 -36 INTNV 4454 +21 Euro (Euro) 1.3454 -.0013 -10 1.2936 +.0584
Advantstrs 43.41 +43 CIGNA 163.56 +.01 Enel ep > ae Ipscog «157.03 -.22»NiSource 25.20 «+05 +49 ‘TXUCorp ~—67.05 Japan (Yen) 008226 -.000007 -.09 .008562 -.000760
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AFrance 4896 +1.21 CPFLEn 55.22 -.85 —-ENSCO 58.97 -1.23 JnprNtwk 23.85 +08 ~—sNobleCorp 9.86 -2.08 Technip 76.70 +.13
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Allstate 61.92 -.69 CapOne 78.62 +.70 FannieMIf 63.43 +.14 Kraft 33.34. +.15 OcciPets 54.52 -.27 Tenaris 46.73. -.47 Buenos Aires Merval 2193.47 -15.61 -0.71% A A A_ +4,93%
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Ameren. 53.90 -17 ChesEng 35.25 -36 Flext 1135 +01 Lysands + 80.19 +428 Paccars . 8692 -1.27 TWCablen 3852 +.21 Taipei Taiex 8188.63 +47.04 +0.58% A A A_ +4.66%
AMovill 5892 +.06 Chevron 82.18 -65 “Fluor 101.70 +121 LeggMason 101.40 +135 parkHan 97.54 +88 +©«‘TimeWarn 21.60 -.15 = Shanghai ShanghaiB 340.47. -25.17 -6.88% A A A +161.68%
AMovilA 58.82 +02 ChiMerc 522.16 +7.16- ioe ere LehmanBr 74.08 +77 Paychex 40.09—-+.11 Tent oe +.05
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: ; skyEngy 89.24 BombdrBSV 4.77 -.06 _UTSEngyCorp 5.35 +.02 BkMontreal 6888 -21 BCEInc 38.75 +.03 Value 90.78 +.06 +257 RiverSource CrPIBding 10.47 -.02 +8.3

-1.04



INTERNATIONAL EDITION WEDNESDAY, MAY 23,2007 4B _











+
THE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 5B



Stores: Price and

size concern over
egos made in
the Bahamas

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

Ithough many

Bahamian

food stores are

willing to stock

locally-pro-
duced eggs on their shelves,
some yesterday said price and
size were contributing factors
as to why customers may
choose to purchase foreign egg
products instead.

This comes after a leading
supplier of locally produced
eggs, New Providence-based
Sunshine Farms, announced it
was set to close its doors at the
end of June 2007 with the loss
of 18 jobs and $2 million in per
annum revenues.

Chris Lowe, the farm’s rep-
resentative, said it was a com-
bination of “everything” that
led to the decision to close.

“It is a shame that a busi-
ness that has been around for
52-and-a-half years is going to
have to close its doors, but no
one in the Bahamas cares
about agriculture,” he told Tri-
bune Business on Monday.

Although some grocers, such
as the Meat Max and Grocery
Store, rely solely on Sunshine
to stock their shelves, others
admit they sell a combination
of Bahamian and foreign egg
products to satisfy customer

demand.
Brad Albury, manager of the
Meat Max, told The Tribune

yesterday that the store only .

carries Sunshine eggs, and had
been supporting the company
for quite some time.

“We don’t carry other eggs,
and I do not know what we
will do now that the farm is
closing,” he added.

An employee at Abaco Mar-
kets’ Cost Right store told The
Tribune that the store gets the
bulk of its egg supply from
Grand Bahama. However, he
noted that in some cases,
Bahamians prefer to purchase
foreign eggs because they feel
they are larger.

Similarly, another large store
indicated that while they do



The Tribune wants to
hear from people who
are making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. If so, call us on
322-1986 and share

your story.

Share your news

carry Bahamian eggs, they also
provide alternative products
such as organic eggs and
American eggs.

“Our customers say that
price and size is why they pre-
fer US eggs,” said an employ-
ee.
It was felt that a major factor
behind Sunshine Farms’ clo-
sure has been the flood of
imported eggs into the
Bahamian market, with other
poultry farmers alleging that
some food stores preferred to
stock on their shelves the for-
eign eggs because, as imports,
they were able to get around
price controls. In turn, they
could be sold to consumers at
higher prices, generating bigger
margins for the food retailers.












DELTEC BANK & TRUST LIMITED

Responsibilities will include (but are not limited to):

Invites applications for the position of

COMPLIANCE MANAGER

Maintaining and developing a robust compliance and control regime in Deltec to

ensure compliance with all relevant laws, regu
policies and procedures

lations, guidelines and internal

Developing, administering and implementing a stringent compliance program that
monitors and reports on key risk indicators
Implementing a comprehensive self-testing program that is derived from risk

assessment

Reviewing KYC documentation for all new and existing clients
Advising and assisting with the training of staff in regulatory and internal policy

compliance requirements

Reporting to Executive Management, Board of Directors and Group Compliance
Ability to work independently and under pressure to meet deadlines

The successful candidate should have the following qualifications:

Mccann

For delivery of the leading Bahamian

newspaper, call The Tribune’s

Circulation Department at 502-2383
or visit our offices on Shirley Street

to sign up today!

3 months (13 weeks) $ 45.95
6 months (26 weeks) $ 84.95
1 year (52 weeks) $ 160.00

CREDIT SUISSE.

‘Home delivery of The Tribune
is convenient and gives me a
head start on my day. The
Tribune is y newspaper.”

HAROLD ANTOR
INSURANCE EXECUTIVE

The Tribune
My Voice. My Howspaper!



Credit Suisse Wealth Management Limited

is presently considering applications for an

OPERATIONS MANAGER

Credit Suisse Private Banking is one of

the world's premier private banks. It is setting new standards

which go beyond traditional banking services. Our dedicated and highly qualified staff provides our clien-
tele with comprehensive solutions in individual investment counseling and advisory services. Our total
commitment is always to our clients and we focus without compromise on their financial well-being and

their personal values.



Requirements:

A minimum of five (5) years experience in banking with a large international institution

Knowledge of trading, trade reconciliation, custody business and securities markets with particu-
lar emphasis on emerging market derivative instruments

Ability to speak and write in Portuguese fluently in order to converse with clients directly and

process documentation internally

Deep knowledge and working experience with Microsoft products {including access, excel, etc.)

Must have working knowledge of GLOBUS application °

Must be familiar with EUROCLEAR procedures and have deep knowledge of EUCLID applica-

tion.

Significant experience in an extremely active and dynamic operational environment

Comprehensive knowledge of operational and information technology principles, practices and

A thorough knowledge of all applicable legislation, regulations and guidelines
Minimum Bachelors degree in banking or finance along with either CPA, ABIFS
(formerly ACIB), or International Diploma in Anti Money Laundering and
Compliance (BACO)

Legal background would be an advantage

Minimum 3-5 years relevant experience in the Compliance field

Excellent written, oral and presentation skills

processes Sufficient to interpret/analyze complex issues and develop innovative solutions to the
challenges effecting the business unit

Strong problem solving and decision-making skills
Strong interpersonal, oral and written communications skills

Possess a confident and outgoing personality

‘ ; Key Duties & Responsibilities will include:
Salary will be commensurate with experience.
Co-ordinate day-to-day operations functions of the main office

Interested persons may submit resumes as follows: Oversee various Management functions; particularly the Payment, Settlement and Safe custody
areas

Human Resources Manager
Deltec Bank & Trust Limited
P.O. Box N.3229
Nassau, Bahamas

Risk Management and liaise with managers to ensure maintenance of standards

Applications should be faxed to:
Human Resources Department
R M ' IN ae ees Fax: 302-6398
esumes may also be faxed c/o 362-4623 or emailed to anh@deltechank.com.
DEADLINE FOR RECEIPT OF APPLICATIONS IS MAY 25, 2007
ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED


-



PAGE 6B, WEDNESDAY, MAY 23, 2007

» RoyalStar

p Assurance

PRICEWATERHOUSE(COPERS [@

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of RoyalStar Assurance Ltd.

We have audited the accompanying financial staternents of RoyalStar Assurance Limited (the Company), which comprise
the balance sheet as of 31 December 2006, and the income statement, statement of changes in equity and cash flow
statement for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with
International Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error: selecting and applying appropriate accounting policies; and making
accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in
accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from
material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditors’ judgement, including the asséssment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making, those risk assessments, the
auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal contro!. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating
the overall presentation of the financial statements.

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

Opinion

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the
Company as of 31 December 2006, and its financial performance and its cash flows for the year then ended in accordance
with International Financial Reporting Standards. :

[nemakedonattgbir-

Chartered Accountants
Nassau, Bahamas
17. April 2007

RoyalStar Assurance Ltd. (incorporated under the laws of the Commenwealth ef The Bahamas)

®
;RoyalStar BALANCE SHEET
» Assurance AS OF 31 DECEMBER 2006 :

Amounts expressed in Bahamian dollars






ASSETS
Cash in hand and at bank (Note 3) s 3,950,975 5,000,559.
Term deposits (Note 3) 22,547,943 16,926,364
Due from agents (Note 4) 18,026,957 16,496,576
Due from reinsurers 420,103 §37,915
Sundry receivables, prepayments and other assets . -127,360.° 2 436,041
Investments in securities - fair value through profit or loss (Note 5) EES eA BD 22,996,413
- loans and receivables (Note 5) 1,839,332 8 4,848,343 =
Property, plant and equipment (Note 6). 1,589,070 4,374,740
TOTAL ASSETS ESTP ree
LIABILITIES
General insurance funds :
Unearned premiums reserve 9,342,618 9,535,811
Outstanding claims reserve (Note 7) 7,145,505 5,643,348
Deferred commission reserve 3,280,523 ~ 2,769,118

: 19,768,646 47,948,277 —
Other liabilities: :
Due to reinsurers 4,471,990 3,564,526

Sundry payables and accruals 694,341 520,959
Cash advance from reinsurers (Note 7) 4,900,003 1,860,059

TOTAL LIABILITIES



EQUITY

Share capital:

Authorized, issued and fully paid:- 10,000,000 ordinary shares of $9.30 each 3,000,000 3,000,000
Authorized, issued and fully paid:- 500,000 preferred shares of $10.00 each (Note 8) 5,000,000 : © 5,000,000
Contributed surplus 7,000,000 7,000,000
Retained earnings 10,023,942 5,623,130



TOTAL EQUITY

TOTAL LIABILITES AND EQUITY

SIGNED AS C
APPROVED
ON BEHALF Director

OF THE BOARD:



ee FOLIA

Date: 17 April 2007



INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2006

Amounts éxi



in Bahamian dollars





» INCOME
Premiums written (Note 9) S$ 73,634,020 63,797,414
Premiums ceded to reinsurers (45,890,977) (34,381,096)
Net premiums written 27,743,043 29,416,318
Change in unearned premiums reserve (Mots | 193,193 “ (78,329)

Net premiums earned



EXPENSES

Net claims incurred (Note 7) 5,413,483 7,195,790

Net commissions incurred (Note 11) 7,586 O67 2.976,395

Catastrophe and excess of loss reinsurance 13,000 512 14,267,038
19,973,062 24,439,223

Underwriting gain



OTHER INCOME
Interest, dividends and other income







1,031,251 952,383
Net realized gain on investments in securities (Note 5) 68,965 i
Net change in unrealized gains/losses on investments in securities (Note 5) 760,862 767,412
Total other income 1,861,078 1,749,795
OTHER OPERATING EXPENSES
Personnel expenses (Note 12)
General and administrative expenses 2,387,347 1,248,486
Depreciation and amortization (Note 6) 1 419.617 1,431,575
Directors’ fees "176,076 "252,584
65,400 66,600
Total other operating expenses 4,048,440 3,499,245

Net income




















































STATEMENT OF CHANGES IN EQUITY (a)
FOR THE YEAR ENDED 31 DECEMBER 2006
Amounts expressed in Bahamian dollars
Ordinary Preference | Contributed Retained
ETC 3 Series Surplus Earnings Total
Preference shares issued : - 5,000,000 = (100,000) 4,900,000
Net income : ey t & = 3,119,316 3,119,316
‘Dividends - preference shares ee re (231,789) (231,789)
Net Income B o ee 5,775,812 5,775,812
Dividends ~ preference shares = ies = (375,000) (375,000)
“Dividends - ordinary shares. e & = (4,000,000) 2 (4,000,000)
Dividends per preference share: $0.75 (2005: $0.46) (e)
Dividends per ordinary share: $0.10 (2005: $Nil)
CASH FLOW STATEMENT Amounts expressed in Bahamian dollars
FOR THE YEAR ENDED 31 DECEMBER 2006
(f)
CASH FLOWS FROM OPERATING ACTIVITIES ee
Net income $.. 5,775,812... 3,119,316
Adjustments for: § See
Depreciation 176,076 252,584
Interest and dividend income -{991,653) = (726,126)
Net realized gain on investments in securities > (68,965) se
Net change in unrealized gains/losses on investments in securities (760,862) (767,412)
4,130,408 (1,878,362)
(Increase) Decrease in current assets: : :
Term deposits , (4,601,802) 958,019
Due from agents (1,530,381) © (3,037,725)
Due from reinsurers qA7;BI2 0 94525227
Sundry receivables, prepayments and other assets 8,681 “4 705)
Increase (Decrease) in current liabilities: : oe
Unearned premiums reserve (193,193) 78,329 «
Outstanding claims reserve 4,502,157: 429,600 —
Deferred commission reserve 591,405-: “4,086,203
Due to reinsurers 907,464 4,266,515
Sundry payables and accruals 173,382 176,934
Cash advance from reinsurers 39,944 {29,213,461}
Net cash from (used in) operating activities : 4,065,877. ; : (g)
CASH FLOWS FROM INVESTING ACTIVITIES SESS SESSSe85
Interest and dividends received $84,079 752,236
Purchase of investments in securities (960,978) 44,271,338)
Proceeds from sale/maturity of investments in securities “238,236 100,000
Purchases of property, plant and equipment (390,406) (39,090)
Net cash used in investing activities Be rlricc)) econ Ey):
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of preference shares = 4,900,000
Payment of dividends on preferred shares . (375,000) (231,789)
Payment of dividends on ordinary shares (1,000,000) i
Net cash from (used in) financing activities » (1,375,000) 4,668,211
Net increase (decrease) in cash and cash equivalents : (537,392) (19,716,683)
Cash and cash equivalents as of beginning of year 49,510,172 39,226,855 (h)
Cash and cash equivalents as of end of year (Note 3) sé 48,972,780 5 49,510,172.
The accompanying notes are an integral part o
(i)
By
B
* RoyalStar
» Assurance ,
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2006
1. Incorporation and Principal Activity
RoyalStar Assurance Limited (the Company) is incorporated under the Companies Act, 1992 of the i)
Commonwealth of The Bahamas and is licensed to operate as a property and casualty insurance
company in The Bahamas under the Insurance Act, 1969. The Company is also licensed to operate
in the same capacity in the Cayman Islands; the Turks and Caicos Islands; and the British Virgin
Islands under the Insurance (Amendments) Law, 2003; the Insurance Regulations, 1990; and the (k)
Insurance Act, 1994 and Insurance Regulations, 1995, respectively. .
The Company's registered office is situated at the offices of Messrs. McKinney, Bancroft & Hughes,
Mareva House, 4 George Street, Nassau, Bahamas. ‘
2. Summary of Significant Accounting Policies
The principal accounting policies adopted in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented, unless otherwise
stated.
(a) Basis of preparation 10)

The Company’s financial statements have been prepared under the historical cost
convention, except as disclosed in the accounting policies below, and in accordance with
International Financial Reporting Standards (IFRS).

The application of amendments to published accounting standards and interpretations that 3.

became effective 1 January 2006 did not result in substantial changes to the Company's
accounting policies. With the exception of the amendments to IAS 1 Presentation of

Financial Statements regarding capital disclosures, that become effective 1 January 2007,
the application of new standards and interpretations issued but not yet effective will not
have a material impact on the Company's financial statements in the period of initial

application.

The preparation of financial statements in conformity with IFRS requires management to



Financial assets

The Company has classified its financie
receivables (due from agents and reins -

‘corporate bonds and preference share

or loss (investments in equity securitie
financial assets at initial recognition-a.

Non-derivative financial assets with fix

an active market are classified as‘loans

for an indefinite period of time, which

changes in interest rates, exchange fat
fair value through profit or loss.

Regular-way purchases and salés.of fin
is the date that the Company commits,
initially recognized at fair value plusotr.
value through profit or loss where trar
assets are derecognized when.the righ
where they have been transferred and
risk and rewards of ownership.

Financial assets at fair value through pr
based on quoted prices for quotediinue

“arm's length transactions and discounte

Realized and unrealized gains and losse
these investments are recognized in the

Loans and receivables are carried at.am:
any provision for impairment.

Impairment of financial assets

The Company assesses at each balances
a financial asset or group of financial as
financial assets is impaired and impairm
objective evidence of impairment as a-te
initial recognition of the asset (a lass ev
on the estimated future cash flaws of th
can be reliably estimated.

If there is objective evidence that anim)
incurred, the amount of the loss is rneas
amount and the present value of estime
that have not been incurred) discountec
rate. The carrying amount of*the assetii
and the amount of the loss is recognize:
amount of loss on financial assets at fai)
difference between the asset's carrying

cash flows discounted at the current'me

Property, plant and equipment

- Property, plant and equipment;-are carr

and amortization, except land, whichis
tures that are directly attributable toth

Subsequent costs are included in the as:
separate asset, as appropriate, only whe
associated with the item will flow to th
measured reliably. Repairs and mainte:
the financial period in which they arecir

Depreciation is calculated using the-sthe
over estimated useful lives, which range

Assets that are subject to amortization
changes in circumstances indicate that
asset's carrying amount is written, dowr
carrying amount is greater than ‘its' esti
amount is the higher of the asset's fair

Gains and losses on disposals are deter.
amount and are recognized in the.inco

General insurance funds

General insurance funds comprise uneé
which includes claims incurred but not
Unearned premiums represent the pro
to periods of insurance coverage subse
adjusted by the commission rates appl
representing deferred acquisition costs

Deferred commission reserve represent
ceded, which relate to periods of insur

Liabiliti%s for unpaid claims are astimat
cases reported to the Company and-sta
and to estimate the expected ultimate
external factors (such as court cases). T
unpaid claims other than for disability

Leases

Leases, where a significant portion ofit
the lessor, are classified as operating le
charged to the income statement onia

Revenue recognition

Premiums are recognized as revenue ov
allowing for premiums ceded. Commis:
and commission income received on pre
as premiums.

The Company's net share of claims and
based on the estimated liability for con
damaged by policyholders. They includ
arise from events that have occurred ur
or not they have been reported

Interest income and expense for all inte
using the effective interest rate methoc
the accrual basis, except for commissior
contracts, and dividend income, which
or obligation to make, payment hasbe

Premium tax

Premium tax is incurred at a rate of 3%
of The Bahamas. Premium tax is charge

Employee benefits

The Company has a defined contributio
by the Company pays contributions to <
has no further payment obligations onc
requires participants to contribute 5% «
10% of basic salary

The Company's contributions to the:def
income statement in the year‘to which

Corresponding figures



Where necessary, corresponding S
presentation adopted in the current ye



Cash and Cash Equivalents

Cash in hand and at bank

Term deposits

Less: accrued interest included in term deposits

make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities as of the date of the financial statements
and the reported amounts of income and expenses during the reporting period. Actual

results could differ from those estimates.

(b) Foreign currency translation

Less: term deposits with original contractual
maturities of rore than 90 days

Interest rates on term deposits range from 4.00

The financial statements are presented in Bahamian dollars which is the Company’s

functional and presentation currency. Foreign currency transactions are translated into
the functional currency using the exchange rate prevailing at the time of the transactions

Foreign exchange gains and losses resulting from settlement of such transactions and from

translation of monetary assets and liabilities at
the income statement.

(c) Cash and cash equivalents

year end exchange rates are recognized in

4. Due from Agents

Receivable from agents

Less: Provisions for doubtful debts

For the purposes of the cash flow statement, cash and cash equivalents comprise cash in
hand and at bank and term deposits with original contractual maturities of three (3)

months or less

There was no movement in the provision for dc


THE TRIBUNE BUSINESS

etrinto’ the following categories: loans and

s, and:investments in government bonds,

d financial assets at fair value through profit
lanagement determines the classification of its
-evaluates this at each reporting date.

»rideterminable payments that are not quoted in
1 receivables. Investments intended to be held

y'be sold in response to the needs for liquidity or
'r equity prices are classified as financial assets at

ial assets are recognized on the trade date, which
surchase or sell the asset. Financial assets are
action costs, except for financial assets at fair
tions costs are expensed as incurred. Financial

9 receive cash flows frorn them have expired or

3 Company has also transferred substantially all

it on loss are subsequently carried at fair value
ments or valuation techniques, including recent
cash flow analysis, for unquoted securities.

arising from sales and changes in fair value of
ncome statement in the period in which they arise.

rtized cost using the effective yield method, less

yeetdate whether there is objective evidence that
sets is impaired. A financial asset or a group of

2nt losses are incurred if, and only if, there is

‘sult of one or more events that occurred after the
2nt) and:that loss event (or events) has an impact
@ financial asset or group of financial assets that

dairmenit.loss on loans and receivables has been
ured as the difference between the asset's carrying
ted future cash flows (excluding future credit losses
vat the financials asset's original effective interest
seduced through the use of an allowance account
{in the yncome statement. By comparison, the
value through profit or loss is measured as the
amount.and the present value of estimated future
rket rate of interest for a similar financial asset.

ed athistorical cost less accumulated depreciation
rot depreciated. Historical cost includes expendi-
» acquisition of the items.

at’s carrying amount or are recognized as a

mit is probable that future economic benefits
‘Company and the cost of the item can be
ancevare charged to the income statement during
curred. + +

ght-line method to allocate cost to residual values
-from three (3) to ten (10) years.

re.reviewed for impairment whenever events or
je.carryiag amount may not be recoverable. An
immediately to its recoverable amount if the asset's
‘ated recoverable amount. The recoverable

alue less costs to sell and value in use.

ined by.comparing proceeds with the carrying
estatement.

ed premiums reserve, outstanding claims reserve,
ported, and deferred commission reserve.

rtion of the net written premiums, which relate
ent to the balance sheet date. This amount is
dle to the line of insurance business written
sociated with unearned premiums.

hesportion of commissions earned on premiums
ce coverage subsequent to the balance sheet date.

! usingsthe input of assessments for individual
stical analyses for clairns incurred but not reported,
ost’ of more complex claims that may be affected by
e Company does not discount its liabilities for

aims. ‘6 >

’

x risks and rewards of ownership are retained by
es. Payments made under operating leases are
raight+line basis over the period of the lease.

‘nthe periods covered by the related policies after
an expense incurred on gross written premiums
miums ceded are recognized in the same manner

dss:adjustment expenses are recognized as incurred
densationiowed to policyholders or third parties
«direct and indirect claims settlement costs and

to the balance sheet date regardless of whether

rest-bearing financial instruments are recognized

! Other revenues and expenses are recognized on
‘income and expenses from facultative reinsurance
re recognized when the Company's right to receive,
n established.

oftgross premiums written in the Commonwealth
1 separately to policyholders.

1 pension plan for its Bahamian employees, where
ptivately administered pension plan. The Company
2 the contributions have been paid. The plan

f théir basic salary and the Company contributes



ned contribution pension plan are charged to the
heyrelate.

mted to conform with changes in





s 3,550,975, 5,000,559

22,547,943 16,926,364

© (185,047) (77,462)

(6,941,091) (2,339,289)
_19/510,172



% to.5.75% (2005: 0.10% to 5.25%).



17,146,576
(650,000)

S 18,676,957
(650,000)



vubtful debts during 2006 and 2005.





5. Investments in Securities 8.
Securities at fair value through profit or loss

Securities at fair value through profit or loss principally comprise marketable equity securities that
are listed on The Bahamas International Securities Exchange, and are stated at fair value.
Movements during the year are as follow:



ae
As of beginning of year $ 2,196,413 1,407,663 9.
Additions 910,178 21,338
Disposals (179,236) ~
Net realized gain 68,965 =
760,862 767,412.

Net change in unrealized gains/losses (see Note 12)



As of end of year



As of 31 December 2006, the cost of securities at fair value through profit or loss totalled
$2,151,920 (2005: $1,352,013).

































10.
Loans and receivables
Loans and receivables are carried at amortized cost and comprise
The Government of The Bahamas ee 5
Bridge Authority bonds Prime + 1.00% 24/03/2014 $ 1,218 $4219
Prime + 1.50% 24/03/2024 52,050 $2,059
Prime + 1.63% 24/03/2029 23,695 _ 23,699
Prime + 1.25% 24/03/2029 13,817 13,819
Sunshine Holdings Limited
corporate bonds Prime + 0.50% 27/06/2009 253,750 253,750
Prime + 0.50% 28/07/2009 253,750 253,750 1.
Sunshine Partners Limited :
preference shares Prime + 2.00% 31/12/2010 941,000 1,000,000
Consolidated Water (Bahamas) Limited
corporate bonds Prime + 2.00% 21/06/2015 250,052 250,047
Caribbean Crossing Limited :
Series B preference shares Prime + 1.50% 30/06/2016 50,000 =
Total loans and receivables
Included in amortized costs are amounts totalling $9,032 (2005: $9,043) representing accrued
interest.
6. Property, Plant and Equipment .
12.
Cost:
As of 1 January 2006 2,417,930 279,365 463,455 4,125,163
Additions 343,906 - - 390,406
As of 31 December 2006
Accumulated depreciation/
Amortization: :
As of 1 January 2006 = 2,010,339 276,629 463,455, 2,750,423
Charge for the year _ 173,340 2,736 ~ 176,076
As of 31 December 2006 $ Ce
Net book value as of
31 December 2006 $
Net book value as of
31 December 2005
\
13.
7. Outstanding Claims Reserve and Net Claims Incurred
Outstanding Claims reserve camprise:
Gross provision of claims S$ 21,240,106 41,062,385
Less: Recoverable from reinsurers (14,754,601) (35,999,037) 14,
Net provision for reported claims . 6,485,505 5,063,348
Provision for incurred but not reported claims 660,000. 580,000 ©
,
As of 31 December 2006, the Company held $1,900,003 (2005: $1,860,059) in cash advances
received from reinsurers to settle claims still being processed.
Net claims incurred comprise:
Gross claims incurred (1,836,989) 59,703,134
Less: Recoverable from reinsurers 7,250,472 (52,507,344)
15.
Insurance claims other than catastrophe - Gross
a
Estimate of ultimate
claims cost at end :
of accident year $ 10,017,286 8,559,248 6,489,208 9,267,218 5,888,286 40,221,246
Current estimate of.
cumulative clainy 10,677,311 8,400,734 6,788,020 11,834,284 5,888,286 43,588,635
Cumulative payments”
to date (9,961,841) (7,498,874) (5,587,856) (7,435,125) (3,546,211) (34,029,907)
e é éé
Liability recognized
in balance sheet
Liability in respect of prior years 3,438,446
Provision for claims incurred but not reported 660,000
Total liability included in balance sheet
Insurance claims other than catastrophe - Net
Tue LCs oF
Estimate of ultimate
claims cost at end
of accident year $ 8,408,762 5,154,592 4,737,697 5,739,628 4,265,850 28,306,529
Current estimate of
cumulative claim 8,977,597 5,260,006 5,129,560 6,366,070 4,265,850 29,999,083
Cumulative payments .
to date (8,725,965) (4,762,136) (4,324,058) (4,414.41) (2 443,54/) (24,669,947)
16.

Liability recognized
in balance sheet



Liability in respect of prior years

Provision for claims incurred but not reported 660,000



Total liability included in balance sheet

WEDNESDAY, MAY 23, 2007 PAGE 7B |



Preference Shares

The preference shares outstanding are variable rate cumulative redeemable A preference shares
with a par value of $10 per share. The preference shares are redeemable solely at the option of |
the Company and the declaration of dividends is at the discretion of the directors of the Company.
The dividend rate is Bahamian dollar Prime rate plus 2.00% payable semi-annually, and any
dividends undeclared are cumulative and payable before any distribution to ordinary shareholders.

Premiums Written




Gross premiums written




Less: Premium tax collected on behalf of
the Government of The Bahamas



227,20

Cow hyA RY}

(1,438,094)
s ECeten

Change in Unearned Premium Reserve

The amounts reported in the income statement comprise:

Balance as of beginning of year

Less: Balance as of end of year

Change in unearned premium reserve

Net Commission Incurred

Amounts paid to agents

Less: Amounts recovered from reinsurers

Movement of deferred commission



Net commission incurred

S Pern ys BAS Ae he)

Related Party Balances and Transactions

Related parties comprise significant shareholders, directors, key management personnel and
entities in which these parties have control or significant influence. The Company’s primary
shareholder is SunStar Ensure Limited, which owns 52% of the Company's outstanding shares
and is owned equally by Sunshine Holdings Limited and Star General Holdings Limited. The
financial statements include the following balance and transactions with related parties:

Balances



Due from agents

Investments in securities

Transactions _
Premiums written

Net commissions incurred (Amounts paid to agents)



Personnel expenses 1,022,566 :
During 2006, the directors of the Company remeasured an investment in an unlisted related party.

The fair value was determined based on the price of the most recent rights issue of the related
party, and resulted in an unrealized gain of $689,675 (2005: $612,500).

' Retirement Benefits

The Company's pension plan is administered by Colinalmperial Insurance Limited. The amount
recognized in the income statement in personnel expenses in the current year totalled $85,773
(2005: $77,734).

The total number of staff employed by the Company as of 31 December 2006 was 25 (2005: 24).

Commitments and Contingent Liabilities
Commitments

The future minimum rental payments required under operating leases as of 31 December

are as follows:

Not later than 1 year $s 36,495

Contingent liabilities

The Company is a defendant in several legal actions involving claims. Management believes that
the resolution of these matters will not have a material impact on the Company's financial state
ments and adequate provision has been made in outstanding claims reserve.

Financial Risk Management

The Company engages in transactions that expose it to insurance risk, credit risk, liquidity risk
and interest-rate risk in the normal course of business. The Company’s financial performance is
affected by its capacity to understand and effectively manage these risks, and its challenge is not
only to measure and monitor these risks but also to manage them as profit opportunities.

(a) Insurance risk

Insurance risk is the risk under insurance contracts that the insured event occurs and the
amount of the resulting claim is uncertain. In the normal course of business, the Company
seeks to limit its exposure to losses that may rise from any single occurrence. Reinsurance is
primarily placed using a combination of proportional, facultative and excess of loss treaties.
Obtaining reinsurance does not, however, relieve the Company of its primary obligations to
the policyholders, therefore the Company is exposed to the risk that the reinsurers may be
unable to fulfil their obligations under the contracts. The Company seeks to mitigate this
risk by placing its reinsurance coverage with large multi-national companies and syndicates. |

(b) Credit risk

Credit risk arises from the potential failure of a counterparty to perform according to the
terms of the contract. The Company's exposure to credit risk includes the majority of its
assets. To mitigate this risk, the Company places cash with credit-worthy banks; monitors
the payment history of its agents before continuing to do business with them; places
reinsurance coverage as noted in (a) above; and invests in debt securities of financially
sound companies.

(c) Liquidity risk

The objective of liquidity management is to ensure the availability of sufficient funds

to honour all of the Company’s financial commitments including claims. The Company

maintains a level of liquid assets, which mature or could be sold immediately to meet cash

requirements for normal operating purposes.

(d) Interest-rate risk

Fair value interest-rate risk for the Company is the risk that the value of financial assets
may fluctuate significantly as a result of changes in market interest rates. The Company
mitigates this risk by investing in interest-bearing assets with floating interest rates that
frequently reset to market interest rates, or investing for short time periods.

Fair Values of Financial Instruments

Financial instruments utilized by the Company are limited to the recorded financial assets and
liabilities included in the balance sheet. Carrying amounts of all financial instruments are :
considered to approximate fair value given their short-term nature, except those disclosed in
Note 5, which have interest rates that frequently reset to market interest rates.


PAGE 8B, WEDNESDAY, MAY



a

FROM page 1

(ILO) Convention 87 as soon as pos-
siblé, to bring the Bahamas into line

23, 2007

The convention establishes the right
of all workers to form and join organ-
isations of their own choosing without
prior organisation, and lays down a
series of guarantees for the free func-
tioning of organisations without inter-
ference by public authorities. The
adoption of the convention is seen as

absolutely essential for the labour
movement by some trade unionists
in the country.

This would be a continuation of
the plans the Ingraham administra-
tion left in place when it demitted
office in 2002.

Mr Foulkes comments came after a

press conference yesterday to
announce a partnership with the Port
of Palm Beach, seeking to strengthen
ties between the city and the
Bahamas.

“The Port of Palm Beach will be
organising meetings with the
Bahamas Maritime Authority to meet

t

THE TRIBUNE“:

overnment to review all the labour laws

with the ship owners to use their port, °
and as for those that are not regis-,
tered on the Bahamas ship registry *
and carry the Bahamian flag, we will
try to get them to become part of our
registry. And we are going to do that
with other ports around the world,” ,
Mr Foulkes said.

with ILO standards.

Legal Notice

NOTICE

DELLABARDO INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on the
10th day of January 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.

’
5
'

u

6

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

WAP ENGINEERING LTD.

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

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

_ NOTICE

. STRONSAY S.A.

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

“ARGOSA CORP. INC.
(Liquidator)



t

Bist

Pricing Information As Of: 4



Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
- Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard
- Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson

12.25 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)
; 0.20 RND Holdi



14.00 Bahamas Supermarkets
0.35 RND Holdings

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund
Fidelity Prime Incom
re

1.339101*
3.1827***
2.662852**



es

“MARKET TERMS
S2wk-Hi - Highest closing price In last 52 weeks

S2wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for dally volume

K: CLOSE 791.62 / VIG 66.67% / 2006 34.4.
YIELD - last 12 month dividends divided by c!
Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price

Legal Notice

NOTICE |

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

EVE INVESTMENTS LIMITED
In Voluntary Liquidation

“Notice is hereby given that in accordance with Section 137 (4) of the
International Business Companies Act (No. 45 of 2000), EVE
INVESTMENTS LIMITED is in Dissolution.”

The date of commencement of dissolution is the 8th day of January, 2007.

Epsilon Management Ltd.
Level 2, Nia Mall
Vaea Street,

Apia, Samoa
Liquidator



Legal Notice

NOTICE

CXI HOLDINGS LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act

2000, the dissolution of CKI HOLDINGS LTD. has been |

completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator) 4



Legal Notice:

NOTICE

MULTIGO VICTORY LID.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of MULTIGO VICTORY LTD. has been

completed; a Certificate of Dissolution has been issued and |

the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)





Last Price Weekly Vol.



NAV KEY

*-4 May 2007









Legal Notice

NOTICE |

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

ATLANTIC BLOODSTOCK LIMITED
In Voluntary Liquidation

“Notice is hereby given that in accordance with Section 137 (4) of the
International Business Companies Act (No. 45 of 2000), ATLANTIC

BLOODSTOCK LIMITED is in Dissolution.”

The date of commencement of dissolution is the 2nd day of May, 2007.

Robert P. Surcouf pes

Harbour Reach
Rue De Carteret
St. Helier, Jersey,
Channel Islands

Liquidator

Progressive International Architectural and
Engineering Firm seeks young

ENGINEER/ARCHIT

CIE
Qualifications
Professional Qualification is Engineering/Architecture
Locally and /or Internationally Licensed
Familiarity and Basic knowledge of Bahamas Building Code
Strong Computer Literacy (i.e. AutoCAD)

G LRequi ts/R ibilitie
Dynamic, energetic and highly motivated

Team-Player with ability to work with minimal supervision
Study architectural and engineering drawings and specification
Exceptional interpersonal skills, organizational and
administrative skills

A competitive compensation package offered commensurate
with qualification and experience. Send Fax: (242) 327-8126 or
e-mail to forbes. vanessa@ gmail.com

Legal Notice ee ;

NOTICE |

UKRAINIAN NEW EUROPE
OPPORTUNITY FUND LIMITED

(In Voluntary Liquidation)

Notice is hereby given in accordance with Section 137
(4) of the International Business Companies, 2000,
Ukrainian New Europe Opportunity Fund Limited has
been dissolved and struck off the Register according to
the Certificate of Dissolution issued by the. Registrar
General.

Dated the Seventeenth day of May 17, 2007

Craig A. Gomez
Liquidator

f‘eeueese w= 8

A well established Media Company is }-}+:+:
looking for a hard working male J-:-:-
to work as a Pressroom Assistant. }‘+1+:

Qualified applicants should be able

to work nights between the hours of | =

8p.m. to 5am. and be prepared to Jv
submit job references and clean police [/-:+;
record.

Interested persons should
send resume to:

c/o DA 18973P

P.O. Box N-3207
: or

Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daity Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month eamings

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

+ tea Fax: 328-2398 au

*** ~ 30 April 2007

**** 30 April 2007



sseee - 30 April 2007


“HE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 9B





Banks: Bahamas
has ‘best tourism
growth potential’

FROM page 1

'

While the financial indus-
try’s view of the Bahamas’
tourism potential will be seen
as a,positive, it does not deal
with the major challenges the
industry faces.

For instance, cruise arrivals
and spending per passenger
have been falling, with
Bahamian-owned businesses
in Nassau and Freeport largely
picking up the ‘scraps’ from
the sector as the cruise lines
are ifcreasingly using their pri-
vate islands as either their first
or only ports of call in the
Bahamas.

Many of the projects
unveiled under the former
Christie administration, while
having billion and multi-mil-
lion dollar headline valuations
on them, are heavily reliant on
‘land speculation’ and real
estate pre-sales for thejr
financing. .

While attractive to financial
lenders, as these mixed-use
resorts reduce the developers’
risk and capital outlay through
real estate sales, it means the
total economic value of these
projects to the Bahamian econ-
omy'and people is often heav-
ily over-inflated. Much of the
legal and real estate work is
also done by overseas realtors
and attorneys.

Neko Grant, minister of
tourism, said his Ministry was
also' concerned that the
Bahamas was “pricing itself
out of the market” as a result

'

The Tribune wants to hear
from people who are
| making news in their
neighbourhoods. Perhaps
you are raising funds for a
-good cause, campaigning
for improvements in the
area or have won an
award,
If so, call us on 322-1986
and share your story.

of the relatively high room
rates its resorts charged to cov-
er operating costs, hinting that
this nation needed to develop
more mid-market options.

In turn, the high room rates
and cost of a Bahamian vaca-
tion mean that visitors expect -
and will want to receive - a
‘five star’ experience that
exceeds their expectations and
gives value for money. At the
moment, arguably, only Kerzn-
er International’s Atlantis and
One & Only Ocean Club prop-
erties do so, leaving many oth-
er Bahamian hoteliers strug-
gling to generate a consistent
annual net profit.

Other concerns lie in the fact
that $0.85 of every tourist $1
spent in the Bahamas is then
spent outside of this nation on
foods and other products need-
ed by hotels, meaning that only
a small fraction or $0.15 is
retained and circulates in the
Bahamian economy - a conse-
quence, perhaps, of this
nation’s reliance on the five-
star resort model.

Then there is the fact that
the Bahamian tourism industry
has not developed much
beyond a hotel sector, and
there is a clear need to expose
visitors to more Bahamian cul-
ture and heritage.

Meanwhile, the KPMG sur-
vey found that 10 per cent of
the banks surveyed were “very
positive” about the
Caribbean’s tourism outlook
in 2007, with almost another
70 per cent “positive”. Just 20
per cent were “negative”.

Mr Townend said the opti-
mism was largely generated by

the relative weakness of the
US$, making the region more
attractive for European visi-
tors; US interest rate stability,
the Caribbean’s proximity to
the US and “reliable and
affordable airlift”.

He said: “The results of the
annual KPMG banking survey
once again support the posi-
tive outlook for tourism
growth in the region. With the
financial commitment of more
than US$2.6 billion in the
Caribbean, lenders are send-
ing a clear message to devel-
opers that, with the right fun-
damentals, they are willing to
continue to finance multi-mil-
lion dollar projects in the
region.”

_ Mr Townend added: “While
the Cricket World Cup did not
necessarily yield the short-term
financial benefits originally

anticipated, it is felt that there ~

will be a very positive long-
term benefit directly associated
with the significant increase in
international exposure of the
region, and the improved infra-
structure of the participating
islands.”

He said there was a new
influx of capital from private
equity and mezzanine lenders,
particularly to larger projects,
attracted by the proven
resilience of the Caribbean
tourism product and the
prospects of strong yields rela-
tive to home markets.

Mr Townend said: “There
was, however, some caution
and reservation expressed by
the banks; the flattening of the
US housing market is on the
radar screen for lenders, but it

NOTICE

NOTICE is hereby given that HENRY EDMOND of MARSH
HARBOUR, P.O. BOX AB-20488, 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 16th day of
May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE is hereby given that CHRISTENN DEZONIE ELLORINE
SAMUDA DAVIS OF MCLEAN’S TOWN, P.O. BOX F-3526,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
‘the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
23RD day of May, 2007 to the Minister responsible for Nationality

and Citizenship,

P.O.Box N-7147,

Freeport, Bahamas.

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a

was suggested that this would
not have a major impact on the
short to mid-term prospects for
the region.

“While there are a number
of high-end condo-hotel devel-
opments underway in the
region, banks are expressing

some caution in this sector. .

The banks also want to see
projects that represent sus-
tainable tourism initiatives.”

The survey found that the
premium to the base lending
rate (LIBOR most commonly
used) ranges from 2 per cent to
4 per cent in 2007. Similarly
debt service coverage ratio
requirements were in the 1x to
2.5x range.

Banks surveyed said condo-
hotels, mixed-use properties,
disposable income levels in the
US and the growth of the
yachting business and yacht
ownership were key opportu-
nities for the Caribbean.

But they added that quality
of service, a lack of skilled
labour, reliance on the US
economy, crime and seasonal-
ity of the tourism product to
be key weaknesses. There was
also some concern over the
fact that the condo-hotel prod-
uct was still untested in terms
of litigation, but banks were
generally more comfortable
with the product.

The softening of the US
housing market, hurricanes,
terrorism, labour shortages, the
increased preference for cruis-
ing, the re-emergence of Mex-
ico, the increased cost of debt
and the opening of the Cuban
market were all noted as
potential threats.





NOTICE

NOTICE is hereby given that NDUBUISI AKAZIE OF
LOT 1 SPINNEY ROAD, YESMONWOOD, P.O. BOX 43669,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for ~
registration/naturalization as a citizen of The Bahamas, and |
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
16TH day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas. *

rear (Melati

is looking for

Sales Persons

with knowledge of the Marine Industry.
Must be self driven.
Please fax resume to: 394-3885

NOTICE

NOTICE is hereby given that GIANCARLO MAZZONI OF
DEBDON DRIVE, P.O. BOX F-40091, FREEPORT, GRAND .
BAHAMA, BAHAMAS, is applying to the Minister responsible °

for Nationality and Citizenship, for registration/naturalization

as a citizen of The Bahamas, and that any person who .h7
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 16TH day

of May, 2007 to the Minister responsible for Nationality

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







tapas?







TTY
waaay

Tale
aa








NOTICE

NOTICE is hereby given that LICIA LINA VALE MAZZONI
OF DEBDON DRIVE, P.O. BOX F-40091, FREEPORT,
GRAND BAHAMA, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/ naturalization
should not be’ granted, should send a written and signed
statement of the facts within twenty-eight days from the 16TH
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
















NOTICE is hereby given that ENDLEY HONORA OF }|°”
PINDER’S POINT, FREEPORT, GRAND BAHAMA, +#°:
BAHAMAS, is applying to the Minister responsible for ¢}.j:
Nationality and Citizenship, for registration/naturalization |...

as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should pP'

not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 16TH day
of May, 2007 to the Minister eae for Nationality

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

The superbly balanced proportions of the Toyota Yaris reflect the
inherent intelligence of its design and the spacious comfort that it offers.
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AUTHORISED TOYOTA DEALER

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Parts and service guaranteed

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


Baker's Bay

GOLF G OCEAN CLUB

Great Guana Cay, Abaco
The Bahamas

Employment Opportunity

STAFF ACCOUNTANT

The successful candidate will meet the following requirements:

Qualifications
B.A. in Accounting
Experience in club or resort development

Key R ibilit
¢ Accounts payable
Cash management
Job cost entries
Preparation of accounting reports
General ledger reconciliation
Journal entries

The successful candidate will have the opportunity to work in a
growing and dynamic organization fo be a self-starter, team player,
work at the highest standards of performance, and meet deadlines.

if you are progressive and prepared to advance your career, submit
your resume to the attention of:

Director of HR & Training

sbowe@bakersbayclub.com
Or by fax at 242-367-0804



PAGE 10B, WEDNESDAY, MAY 23, 2007

Crem LEI

THE TRIBUNE

ere O tie a
distribution deal

FROM page 1

warehouse at the Sea/Air Busi-
ness Centre was about 75-80
per cent complete, and the
86,542 square foot facility was
“tentatively” expected to be
complete by August 31.

“The roof’s on. We’re doing
work internally in the offices.
We'll be done by mid-August,”
Mr Deffler said. He added that
International Distributors had
not started recruiting Bahami-
an staff for the project, a

start by next month or early
July at latest, but it was expect-
ed to employ some 200 peo-
ple.

“Our thought process is that
this Freeport operation, in a
very short period of time, will
surpass our distribution out of
Florida,” Mr Deffler said.

He added that the Sea/Air
Business Centre facility had
generated “a great deal of

interest”, not just for Associ- °

ated Grocers but a number of
other US-based food whole-
salers, cooperatives and buy-
ing groups.

International Distributors is
planning Phase II and Phase

III expansions at its 20-acre
site Grand Bahama site, both
due to involve 200,000 square
feet of warehouse space.

Mr Deffler said “the archi-
tect is working on it as we
speak” in reference to the
design and plan for the second
phase warehouse.

“Obviously, Freeport is the
key,” Mr Deffler said of Inter-
national Distributors and
Associated Grocers’ plans.

“Mostly everything will be.

coming in here, and then will
be funnelled out of Freeport
to different countries apart
from the Bahamas.
“Although we are working



on it, we don’t at this point. _
have a business licence to dis-,. -

tribute in the Bahamas from

Freeport, although we can do it® .”
from Miami.” %

The Tribune understands
that pressure from some major
Nassau-based wholesale agen-
cies was responsible for the ini-

tial stipulation that the Grand ,-
Bahama facility could not *

directly supply Bahamians.
They are understood to have
feared that the arrangement

would disrupt the established. . .
supply chain in the Bahamas, ¢ |
and could allow ordinary peo- ; *
ple and ‘mom and pop’ stores - |

to purchase their goods direct ~

ey

process that was expected to
= from International Distribu-,

tors. at}

However, the latter’s pro-.

duce will be boxed, shipped’ |
and stored in a secure, sterile | 4.
warehouse area in Freeport . ; -
that cahnot be accessed by the, | ~
public. International Distribu- ©
tors deals only with bulk’. _, .
orders, making it impossible “, ”
for ordinary people to effect \ ‘
purchases, especially if mini-, _.,
mum orders and the produc- ., .,.
tion of a business licence is} }-}
required. a’ af}

International Distributors’, | ,'.
will be exporting wholesale
food products and services to , |
clients in 46 countries from its
Freeport facilities.

It was attracted to Freeport’s ©
transhipment/logistics/distrib-. _ ,
ution potential because ofits: | ,

- tax-free status, and the fact it: | ,
was the only port in the West- |”
ern Hemisphere large enough | _ °
to take the post-Panamax | |
ships. In addition, the total
cost of lifting one container off :
a ship in Freeport is just $60,- — -
compared to the $400, for
instance, charged in Long, .

_ Beach, California.

International Distributors »*.
has a lot of non-US customers, * ,*
and found that importing pro- -“!
duce from China and other
markets to its US distribution
facilities for're-export to other
markets was “knocking the .-) |
price up” as a result of having -}- |
to pay US import duties. -

Therefore, the Bahamas +%.
facility will be used to receive -* ¢*
product from other markets*s*;
that is due to be exported to .*.*
regions such as Latin and*.°
South America, and provide .", |
customers with better prices
that they can pass on to con-
sumers.

CLOSED FOR STOCKTAKING

Nassau Motor Company’s

Parts Department

will be closed for stocktaking...

MAY 2007 JUNE 2007





NOTICE

The Broadcasting Corporation of The Bahamas is
seeking a suitably qualified company to provide
Aif-conditioning Maintenance Services for its three (3)
plants located in New Providence.











Interested parties should contact Mrs. Sharnett ee enue Core ergte

Ferguson, Executive Assistant to The General
Manager at 242-502-3945, between the hours of
9a.m.- 5p.m., Monday to Friday to collect a copy of the
Tender documents, ‘from our headquarters located on
Harcourt (Rusty) Bethel Drive, formerly 3rd Terrace,
Centreville, Nassau.

We will be closed from 5:00pm
Tuesday, May 29 through
Saturday, June 2. ©
We will re-open on Monday, June 4.

9

We regret any inconvenience
to our valued customers.
Bids must be returned in a sealed envelope to
Mrs. Ferguson No Later Than Thursday, May 31, 2007.

'
s

ee



e

NASSAU MOTOR COLTD

Shirley Street ¢ 356-7932

partsorder@nassaumotor.com ¢ www. nassaumotor.com

NOTICE

The payment of Long-Term Benefits and Assistances in New Providence
for May 2007 will be made at the Board’s Fox Hill, Wulff Road and
Jumbey Village Local Offices beginning ay, May 24, 2007.
Cheques may be collected from these offices between the hours of
9:00am and 4:00pm.

eH ne

- 4 7

Pensioners and/or their representatives are required to produce proper
identification in order to collect their cheques.

Acceptable forms of identification for Pensioners are the National
Insurance Registration Card, together with any one of the following:

1. A Passport;

2. A Voter’s Card; or

3. Any other document which establishes, conclusively, the identity
of the claimant.

Where the Pensioner is sending a Representative to collect his/her
cheque, the Representative should present an Authorization Form,
completed by the Pensioner, or a letter from the Pensioner authorizing
the Board to release his/her cheque. Additionally, the Representative
should present any one of the above-listed items to identify
himself/herself. Cheques will not be released to representatives who
fail to provide satisfactory identifying documents.

Tel: 502 2356h

for ad rates eS w/o we

Please Note: Pensioners born in June and December are now due
for Verification. Failure to be verified on-time, will result in the suspension
of payments.


HE TRIBUNE

WEDNESDAY, MAY 23, 2007, PAGE 11B



Foreign price
competition
hits bottled

water suppliers

FROM page 1

industry’s sales volumes, mar-
gins and employment levels. It
was difficult for the smaller-
sized Bahamian products to
get shelf space in many food
stores, too.

He added that he hoped the
Bahamian industry would
- come together to meet with
‘the new FNM government,

outline its concerns, and talk

about “bringing in new regu-

lations and looking at how we
. can compete”.

“We’re not selling the small
packs in the quantities we
should be, even though the
.. quality of our product is on par
with theirs,” Mr Knowles said.
He added that the 12 ounce,
20 ounce, 16.9 ounce and 1.5
. ounce bottles was where the
competition with imported for-
eign water was fiercest.

Another water industry
source, who requested
anonymity, said some foreign
bottled water was imported
duty free, helping to “flood the
market”, driving down prices
and sales volumes for Bahami-
an producers.

“You’ve got a whole flood
of it,” the source said. “At the
end of the day, it is not a level
playing field” for Bahamian
bottled water producers.

The source explained that
foreign bottled water produc-
ers faced a much lower oper-
ating cost base than their
Bahamian counterparts, with
electricity costs about “one
third per kilowatt hour what it
is in the Bahamas”.

Bahamian water producers
also had to import all their raw
materials, and were faced with
having to pay freight and, in
some cases, import and stamp
duties as well.

The source also highlighted
the discrepancies between US
and Bahamian regulation of
food and drink products. Any
such products being exported
from the Bahamas to the US
had to be inspected, tested and
approved by the Food and
Drug Administration (FDA),
but such goods coming the oth-
er way into the Bahamas did
not have to undergo any test-
ing or inspection.

To supply the likes of the
US Embassy and cruise ships,
Bahamian bottled water com-
panies would have to have
their plant inspected and prod-

uct tested to ensure they met
the required standard, under-
going a full Sanitation Audit,
but there was no such require-
ment for bottled water imports
coming into the Bahamas. ,

“We don’t have the regula-
tions or the enforcement capa-
bility,” the source said. “This
has been going on for years
and years.”

The absence of health and
safety testing and inspections
on bottled water imports has
raised concerns about the
Bahamas being used as a
potential ‘dumping ground’ for
low-priced, poor quality prod-
uct that floods the market and
puts local producers out of
business.

Dumping concerns in the
Bahamian context have been
raised most frequently in the
context of chicken leg imports,

. and anti-dumping regulations

are a key part of any trade
regime.

Mr Knowles said he had
seen no evidence to suggest
that the Bahamas was being
used as a ‘dumping ground’ for
low quality imports, but added
that tests his company had
done showed their water was
of a better quality than some
imported bottles.

Cyt Cr) a
Office Closure





To our Valued
Customers

Please be advised that all our offices in Nassau will be closed
on Friday, May 25th 2007 between the hours of 9:00am-1:00pm
for the Company's annual Awards Ceremony. Our offices in Freeport,
Exuma & Abaco will be closed for the entire day.

We apologize for
any inconvenience

caused

British
M"tAmerican

FLRAN CGAL

Nassau 242-461-1000 Freeport 242-352-7209 Exuma 242-336-3035

Abaco 242-367-5601
www. babfinancial .com

“Financial Solutions for Life!”





Oe Ca eBay eee
the #1 newspaper in circulation,
just call 322-1986 today!

Wt

Sheraton
Cable Beach



Sheraton will create a 700 room hotel with meeting space at Baha Mar.
The hotel will feature easy access to shopping, gaming and the beach

Director of Rooms

The new, soon-to-be open, Sheraton Cable Beach Resort, Nassau,
The Bahamas is looking for a Director of Rooms. This is a
highly visible position within the hotel’s. management team.

The qualified candidate must possess at least 6 years hotel experience
in Front Office, Housekeeping and Guest Services with a minimum
4 years of management level experience in these areas. The major
areas of responsibility and management will include: Front Office,
Guest Services, Housekeeping, Security, Gift Shop, Health Club,
Recreation and Tennis. This position is responsible for short and long .
term planning and day-to-day operations of the above listed areas.

The ideal candidate must be highly skilled in budget and expense
management, recruitment, training, customer service and has
a superior ability to supervise, motivate and develop staff. The
potential candidate should have excellent working knowledge of
Hotel Property management systems, Opera and must be a detailed
oriented team player, possess strong organizational skills, computer
literate (Excel a must), and possess excellent written, oral and
interpersonal skills. A Bachelor’s degree or equivalent is required.

=o 4

All qualified applicants should forward a copy of their resume~ to
the Director of Human Resources at bbarnes@radissonbahamas.com
or forward to fax #327-3037. All resumes will be held in the strictest
of confidence.

£2

“id 22,

>



g :

n
=4 (0)

THE BAHAMAS STATE ASSOCIATION .
1.B.P.0, ELKS OF THE WORLD




(IE

51ST ANNUAL STATE CONVENTION »*
MAY 23 - 28, 2007








an

CURFEW ELKS CENTRE
HOSPITAL LANE NORTH
NASSAU, N.P., BAHAMAS _



Ts
we
ek




Theme: ELKS A VANGUARD FOR THE
ENCHANCEMENT OF ITS MEMBERS

Tuesday, May 23rd




7:30 p.m. Official Opening Session
Guest Speaker: Mr. Lester Cox





Thursday, May 24th




6:30 p.m. Civil Liberties Department Programme
Guest Speaker: Mr. Jamal Davis, Attorney At Law



8:00 p.m. Health Department Programme
Guest Speaker: Dr. Sandra Dean - Patterson




Friday. May 25th







7:30 p.m. Fez Department Pagent of Progress















9:30 p.m. FAMILY ISLAND NITE AT THE FISH FRY ‘ :
Fish Fry, Arawak Cay Cc
Saturday, May 26th a
aM
7:30am. Chaplain’s Department Prayer Breakfast ‘ 7 hoi
Rev. Clayton W. Hanna, State Chaplain . Sy,
y Pp. NS bn
3:00 p.m. THE DORIS FRITZGERALD - NELLIE KNOWLES - BERNICE tri
ENEAS NATIONAL PARADE
}
Assemble at Christie Park, Nassau Street, parade moves south on Nassau Street, east ||".
on Ponciana Drive, north on Blue Hill Road, ending at Eureka Elks Home. :
The Annual Thelma P. Lockheart Pagent sponsored by The Beauty & Talent Depart-
ment
Is
Sunday, May 27th 1c
ns
9:00 p.m. The Devine Worship and Service of Sacred Memory 4
Speaker: Bishop Delton Fernander, New Destiny Baptist Church oe
Selection by the New Destiny Church’s Choir Lied
cad
2:00 pm. The Annual Youth Jamboree & Talent Extravaganza ft
5:00 p.m The Temple Queens Contest and Glamorous Hats Parade
8:00 p.m. The Education Department Oratorical Programme & Contest hi
or
Monday, May 28th "

12:00 noon Joint Closing & Presentations

Presidents’ Down Home Luncheon











PAGE 12B, WEDNESDAY, MAY 23, 2007

THE TRIBUNE






For the stories
behind the news,
Mr AIC

on Mondays

JOB OPPORTUNITY
HUMAN RESOURCES MANAGER

The Public Utilities Commission (PUC) was established by the Public Utilities Commission
Act 1993, as amended in 1999 to regulate controlled public utilities. It is currently
mandated to regulate the telecommunications sector. The PUC is inviting suitably
qualified persons to apply for the position of Human Resources Manager. This person
will be responsible for all aspects of human resources and will report to the Executive
Director.

Principal duties and responsibilities of the position

These will include:

¢ Develop and recommend Human Resources Management (HRM) strategies, policies
and practices that promote employee commitment, team building, competence,
motivation and performance and that facilitate the achievement of the PUC’s
business objectives.
Staff recruitment and administration of workforce planning and employment
activities.
Develop and facilitate processes for effective labour/management relations and -
agreements.
Administer compensation, benefits, and recognition and performance management
systems.
Manage the training and development programmes and collaborate with management
in conducting needs analysis, coordinating plans, preparing manuals, and monitoring
and evaluating training.
Facilitate employee commitment to a culture which embraces the core values of
the organization and foster &4n understanding of and commitment to diversity.
Develop and Maintain the Human Resource Information Systems

‘Qualifications and Experience

The successful candidate will be an experienced leader with:
A minimum of a university degree in Human Resources Management, Business
Administration, Education or one of the social sciences from a leading university.
A clear understanding of basic management functions and experience in management
and supervision.
A minimum of 10 years of progressively responsible experience as human resources
manager in a unionized organization of around 40 persons.
Professional Certification (PHR, SPHR, CHRP), an asset.
Good knowledge of legislation affecting employee rights and other employee
related laws, immigration and copyright laws.
Excellent oral and written communication skills
Proficiency in Microsoft Office Applications particularly word, excel and power
point.

As amember of the PUC team, the successful candidate will benefit from a comprehensive
~ benefits package and excellent opportunities for continued development. Starting salary
will be commensurate with relevant experience.

Interested applicants should deliver or submit their resumes to the PUC by 6 June,
2007 to:

Executive Director, Public Utilities Commission
4th Terrace East, Collins Avenue
Fax No. (242) 323-7288

E-mail: PUC @pucbahamas.gov.bs



EPA talks hit

@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas

Chamber of

Commerce’s

executive director

yesterday urged
Bahamian businesses to rapid-
ly provide feedback on their
concerns and issues over the
Economic Partnership Agree-
ment (EPA) talks with the
European Union, warning that
this nation was now at
“crunch” time given that the
deadline for the agreement’s
implementation was still Janu-
ary 1, 2008.

Philip Simon told The Tri-
bune: “The feedback has been
slower than expected, and that
might be due to persons not
quite understanding what the
EPA is all about, and the
potential impact it can have on
their business.”

He added that the Chamber
was likely to seek completion
of the surveys issued by itself
and the Bahamas Financial
Services Board (BFSB) to their
respective communities and
forums and working sessions
they were due to stage on the
EPA in the near future.

“No deadline has been
changed to our knowledge, and
the EPA is still due to come
into effect from January 1,
2008,” Mr Simon said,
although areas that the
Bahamas had secured reserva-
tions on might not be impact-
ed.

“We're still in a crunch as

’ regards deadline and timing.

It’s important that we continue
to keep ourselves engaged in
the. process, even if the
Bahamas’ participation is not
clear from a private or public
perspective.

“We're still in the process of
determining the EPA’s impact
on current and future indus-
try, and that’s why we need to
get feedback.”

The EPA is intended to
come into being on January 1,
2008, replacing the Cotonou
Agreement which currently
governs trade between the EU
and the Bahamas and 76 other
nations who are members of
the African, Caribbean and

_ Pacific (ACP) groups.

Through the, EPA, the
Bahamas will be exposed for
the first time to a two-way
trading relationship or reci-
procity, where this nation will
have to allow EU companies
and imports the same benefits

iu Business community
urged to respond as

‘crunch’



®
@ PHILIP SIMON

as European countries provide
to this nation's exporters,
chiefly Bacardi rum, crawfish
and seafoods, and Polymers
International.

A briefing paper prepared
for the Christie Cabinet's sub-
committee on trade by the
Ministry of Foreign Affairs,
which then had responsibility
for international trade, warned
that the Bahamas would lose
“its favourable $20 million
trade balance" with the EU if

-it failed to sign the EPA, while

hundreds of jobs would be
jeopardised if Bacardi and
Polymers International shut
their respective operations due
to their exports becoming
uncompetitive.

If the Bahamas lost its duty-

free preferences by remaining
outside the EPA, the Bacardi,
Polymers International and sea
food products would all see
their prices increase and
become uncompetitive.

if Bacardi's exports were
submitted to a $5 per gallon
customs tax by the EU, they
would become uncompetitive,
a situation the: company has
warned would cause it to shift
production elsewhere and
close its Bahamian plant, cost-
ing at a minimum more than
$13 million in excise taxes and
180 Bahamian jobs.

The Ministry of Foreign
Affairs document said: "An
additional cost of $5 per gal-
lon would make the Bahami-
an-produced rum uncompeti-
tive, and would likely cause
Bacardi to shift its production
to either Puerto Rico or Mex-
ico, where the MFN tariffs are
not applicable.”

ON THE CAMPUS OF THE

Just over $35 million worth

of sea food products wetfe . .

exported to the EU from the’

Bahamas in 2004, and loss of
duty-free access would lead fo
a 12.5 per cent tariff being
imposed.

Referring to Anthony Mok.
inney, head of Paradise Fish-
eries, the Ministry of Foreign

. Affairs briefing note said this

would raise the price of

Bahamian lobster by $2-$2.50°-’

per pound, making it uncom-
petitive.

The loss to the Bahambs
would be the value of the lob-
ster exported, and the income
loss of the Bahamian fisher-
men who catch the lobster, as

~ well as $649,259 in royaltiés.

“It is possible that alternative
markets for the lobster would
be found, but there would be
no guarantee that the pri¢e
obtained would be as good as
the European Union prices,"
the Ministry's analysis read.‘
Polymers is understood to
export about $7 million per
year, or $500,000 worth of
goods per month, to the EU:'
The Ministry of Foreign
Affairs document said: “The

document read: "The MEN |
tariff on polymers range from ~ |

7- 12 per cent, and the pringi-
pals of Freeport polymers have
indicated that if they lose th¢ir
duty-free entry into the EU

market, it would not be prof- *
‘itable for them to continue

their operation in Freeport.:
"The loss to the Bahamas, if
Polymers were to leave, would
be the loss of 83 Bahamian
jobs in addition to negatively

impacting the activities of 10 -¢

Bahamian contractors, who
supply services to Polymers, as
well as the loss of approxi-
mately 10 per cent of Freeport
Power's revenue, since Poly-
mers uses approximately 10
per cent of the electricity gen-
erated by Freeport Power."
Jobs at the Freeport Con-
tainer Port and Grand
Bahama-based trucking com-
panies might also be impacted

if Polymers lost its EU busi-.

ness.

The Bahamas exported
$66.315 million worth of goods
to the EU in 2004, and import-
ed $42.93 million, and has
already made one decision - to
protect its exporters and
favourable $20 million trade
balance by signing up to the
CARIFORUM offer, and
trade-off the loss of $10-$14
million in taxes imposed on
EU goods per annum.

COLLEGE OF THE BAHAMAS
(JUST OFF TUCKER ROAD)

TO THE COLLEGE STUDENTS AND THE GENERAL PUBLIC

MONDAY
FRIDAY

PHIONE:



a
323-0609 A 322-7294

THURSDAY 74.M.
SATURDAY 7A.M.
SUNDAY - CLOSED

KA >< .

9 P.M.

10 P.M.

< a 4s BL Ode





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