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:
09994850 ( OCLC )
9994850 ( OCLC )
UF00084249_02923 ( sobekcm )

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The Tribune



#1 PAPER IN CIRCULATION



She Miami Herald

BAHAMAS EDITION





Volume: 103 No.175

FRIDAY, JUNE 22, 2007

RON RICARDO and ¥



PM says govt has ‘no
fear’ over election court

i By BRENT DEAN
Tribune Staff Reporter

‘PRIME Minister Ingraham
declared that he and his govern-
ment have “no fear” in response
to the PLP’s election court chal-
lenges that have the potential of
changing the balance of power in
the Bahamas.

_ Acconfident Mr Ingraham chal-

lenged the PLP to “bring it on”
yesterday while speaking to the
media at Lynden Pindling Inter-
national Airport on his return
_...rom-the CARICOM/US confer-
ence on the Caribbean, held at
the State Department in Wash-
ington, DC, Wednesday.

Met at the airport by 12 mem-

bers of his eabinet, Mr Ingraham



@ PRIME Minister Hubert
Ingraham shakes hands with US
President George W Bush at the
US State Department during
CARICOM’s meeting with the
President as part of the CARI-
COM/United States Conference
on the Caribbean in Washington
DC. e SEE PAGE TWO

(Photo: OAS)

did not say whether his party had
assembled a legal team to defend

‘its interests in the cases, but he

advanced the party’s right to
defend the seats it won.

“The FNM will defend what it
won on the battle field. We’ll see
what the allegations are and we
would take appropriate steps to
defend it in the court of law. We
will not seek to try the case in the
newspaper, as appears to be the
case now,” he said.

“We won them squarely and
fairly on the battlefield. They are

FNM seats and we intend to keep

them — all of them,” the prime
minister added to thunderous
applause from his cabinet.

When asked if he would be
willing to call another election if
the court decision changed the
results with the three seats in
question, the Prime Minister said:

“Only the people of the
Bahamas can determine their
government. Courts can’t deter-
mine that. Governments are
determined by elections. We had
an election, and the people deter-
mined that.”

Although the prime minister
said that his party will abide by
the court decision — from which
there is no appeal — he also sug-
gested that he is not afraid to
exercise his right to call another
election, if his party lost seats in
the challenges.

“The authority to call elections
in the Bahamas — general elec-
tions — vests in myself for the time
being. And if, or when, IJ think it
is necessary to do so, I shall do so.
At the moment I have no inten-
tion of doing so, but things change
sometimes,” he said.

The PLP filed election court
challenges in three constituencies
by last Monday’s deadline — Mar-

SEE page 11

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@ 27- YEAR. OLD Eduardo Carey (left) and
21-year-old Tito Davis outside of court
yesterday

(Photos: Tim Clarke/Tribune staff)

@ By NATARIO McKENZIE

A MAN, 27, charged with the murder of
Deangelo Armbrister was arraigned in Magis-
trate’s court yesterday.

A second man, accused of abetment to Arm-
brister’s murder, was also arraigned in court
yesterday.

Armbrister, 21, of South Beach Estates was
killed on Brougham Street off East Street last
week. According to reports, Armbrister was
repairing his car outside ‘the home of his girl-
friend’s mother when he was approached by a
man armed with a shot gun. He was shot in
the head.

Eduardo Carey of Windsor Estates was
arraigned before Magistrate Carolita Bethel
at Court cight, Bank Lane, yesterday, charged
with the murder of Armbrister. According to
court dockets on Tuesday, June 12, at New
Providence while being concerned with oth-
ers, he is accused of causing the death of Dean-
gelo Armbrister. Carey was not required to
plead to the murder charge. Tito Davis, 21, of
Step Street was also arraigned before Magis-

SEE page 11











‘WE'VE GOT |



PRICE — 75¢

Brain drain ‘even more
ICM ager Ca
|SEE FRONT PAGE OF BUSINESS









Gas price rises
to $4.87 a gallon

@ By PAUL G TURNQUEST
Tribune Staff Reporter

LITTLE relief can be seen in the
coming days for Bahamian motorists
as the price of gasoline continues to
climb, now at $4.87 a gallon.

Across the United States, however,
the price of gasoline has dropped to
an average $3, as the price of oil on
the international market fell by $0.91
cents to settle at $68.19 a barrel on
the New York Mercantile Exchange.

However, while prices may have
dropped in the US, Phenton Ney-
mour, State Minister for Utilities,
said that does not mean that prices in
the Bahamas will have to follow the
US market.

Mr Neymour said the Bahamas
purchases most of its fuel from
Venezuela, and as such, the market
forces that affect US prices would
not directly affect the purchasing

SEE page 11

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Healthcare
model for
proposed
NHI scheme

‘is in decay’

@ By ALISON LOWE

THE Canadian healthcare

- model on which the Bahamas'

proposed National Health
Insurance scheme is modelled

~ isin."decay" and certain of the

system's provisions, which NHI
is set to mirror, were even ruled
to be unconstitutional.
Presenting a lecture "Lessons
from Global Experience for
Bahamian Health Care
Reform" at a Nassau Institute
symposium yesterday, Dr
Michael Walker, a renowned
economist and fellow of the
Fraser Institute of Canada who
has spent decades studying
global healthcare systems, said
that of all models the Bahamas
could have taken inspiration

SEE page 11

Death sentence of
convicted murderer
commuted to
life in prison

CONVICTED murderer
Angelo “Nasty” Brennen is no
longer a “condemned” inmate
now that his death sentence has
been commuted to life in prison,
The Tribune has learned.

Yesterday Supreme Court
Justice Jon Isaacs re-sentenced
Brennen to life in prison.

In 2005, Brennen was con-
victed and sentenced to death
for the October 2004 shooting
death of Ruthmae Pinder. Ms
Pinder was standing at a bus
stop opposite Temple Baptist
Church on Farrington Road on
October 29, 2004, with her two
daughters. It was learned
through testimony that Ms Pin-
der had ended a relationship
with Brennen six months before
she was killed. According to
witness testimony, Brennen shot
Ms Pinder twice, puncturing her
left lung and left side. Lawyer
Romona Farquharson repre-
sented Brennen and Director
of Public Prosecutions Bernard
Turner appeared for the prose-
cution yesterday.

Since the Privy Council’s

SEE page 11







we Bu It mato







PAGE 2, FRIDAY, JUNE 22, 2007

THE Tr



Minister speaks out over the

three children sent to prison

@ By ASHLEY THOMPSON

MINISTER of State for
Social Development Loretta
Butler-Turner spoke out yes-
terday about sending three
children to Her Majesty’s
Prison.

The minister also corrected:

what she described as false
statements made about the
case of a 12-year-old girl by the
girl’s mother.

On January 2, 2007, the girl
was found home alone when
police arrived with an arrest
warrant for her and her moth-
er for failing to appear in court.

The girl was then taken into
protective custody where she
was placed in a home.
























































sSSSss

Wee

-_
Hi MINISTER of State for
Social Development, Loretta

Butler-Turner

Almost three months later
the child did not return to the



Newborns have your smile and demeanor

Role-plays of Uncle Mario are the norm of our day
Siblings still pine anytime, anywhere, even today

And parent's love for our departed son strengthen with cach tea

You missed your wedding and the birth of your child
Degrees hang on walls - a reflection of valued time
There is no stench from your shoes and unkempt room
Memories of your warm embrace are missed in our homes

A generation is simply gone much too soon

We count our blessings and give thanks to God
Still engage in altruism that you use to warm your heart
But even in the midst of the beauty and joys of our life
We can't explain how much WE MISS YOU!

WE LOVE YOU

Love, Daddy, Mommy, Yasmine, Leslie, Monty, Leslia, Jaycian,
Mikhail, Grand Bahama Mama, uncles, aunts,
your brotherintaw, Andrew, and faithful friends.



e

LEROY Mill!

Still see you in the darkness
And in the merriment of the daylight
Slightest provocations remind us of you
Bringing bouts of sadness or welcomes gaiety too

|

home after school. Two weeks
later she was found living with
her mother, who had previ-
ously denied to police having
any knowledge of her daugh-
ter’s whereabouts.

The child was returned to
the children’s home where her
continuous disruptive and
uncontrollable behaviour led
to her appearing before the
juvenile court for destroying
bathroom fixtures.

This resulted in her being
committed to the Willie Mae
Pratt Centre for Girls.

The girl was one of seven
who damaged over $2,000
worth of property before flee-
ing the centre last month.

Juvenile court returned them
to the centre where she was
one of the three who tried to
escape again two weeks later.
This time the three girls were
sentenced by the court to be
held at the prison for three
months.

Mrs Turner said the ministry
is not happy with anyone under
18 being placed in the prison,
but the only two correctional
facilities for children in the
country — the Willie Mae
Pratt Centre for Girls and the
Simpson Penn Centre for Boys
— often operate at maximum
capacity.

As of Wednesday, the Willie
Mae Pratt Centre had 42 resi-
dents and the Simpson Penn
Centre 56.

When children cannot be
managed at the centre due to
their behaviour, the precedent
has been for the juvenile court
to send them temporarily to
the prison.

Admitting that this is not an
ideal situation, Mrs Turner
said: “The government must
move quickly to either expand
the facilities and services at the
centres or establish new ones
with the proper resources.”

Establishing new facilities

/
y BY
A

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At





would also allow correctional
facilities to be created to house
juveniles between the ages of
16 and 18 as the Child and
Young Persons (Administra-
tion of Justice) Act only allows
the centres to accommodate
children aged 10 to 16.

Some parents appeal to the
state to have their children
placed in the centres because
they cannot control them. In
situations like this “the state
must step in and be a safety
net,” Mrs Turner explained.

She urged an examination of
society to determine why the
number of children being sent
to these centres is increasing.

The ministry is now looking
at action plans which include
strengthening the national par-
enting programme and reha-
bilitative programmes at the
centres.

It is also considering increas-
ing the number of school-based
programmes and structured
character building community
activities.

Caribbean conference
in Washington, DC
releases joint statement

A JOINT statement was released from the participants
in the Conference on the Caribbean in Washington, DC,
Wednesday highlighting, among other things, the recog-
nition that the establishment of the CARICOM Single
Market and Economy is a critical element to the growth
and development of the Caribbean Community.

Despite endorsing the agreement, the statement on
CSME does not bind nations such as the Bahamas to any
specific policies.

The FNM government made it clear during its budget
communication that it will not sign on to the agreement,
which was a significant point of national debate under
the PLP government.

-Some of the key components of the agreement include
the free movement of goods and services; a common exter-
nal tariff; and a common trade policy. However, the free
movement of labour provision of the agreement received
the most criticism, with many Bahamians fearing an influx
of poor dependent Caribbean citizens, to further com-
pound the large illegal Haitian migrant problem that suc-
cessive Bahamian governments have been unable to get
under control.

The members also expressed a commitment to extend
cooperation in health, continuing the US President's Emer-
gency Plan for AIDS Relief (PEPFAR) in the Caribbean.

The emergency plan is the largest commitment ever by
any nation for an international health initiative dedicated
to a single disease — a five-year, $15 billion, multifac-
eted approach to combating the disease around the world
— which includes 32 countries from the Caribbean and
Latin America.

A further commitment was made to work toward the
expansion of the pilot reintegration programme for depor-
tees in Haiti to include other CARICOM members states,
along with the development of new ways to facilitate,
coordinate, and communicate between immigration ser-
vices among member states.

The group also gave a vote of confidence in the gov-
ernment of Haitian President Rene Preval, though
acknowledging that the country will require further sub-
stantial international "support in the implementation of a
consistent and long-term strategy of institution and capac-
ity building."

In the post September 11th environment, the group
further pledged to work together in the fight against ter-
rorism, trafficking in persons, drugs, small arms, and
transnational crime.

$5,000 reward for
return of pendant

A $5,000 reward is being
offered for the return of a stolen
piece of jewellery. ,

An eight-carat, six-sided
emerald crystal pendant was
stolen last month. The pendant
is about one and half inches
long and half.an inch in diame-
ter.

The item was stolen during
an armed robbery in the eastern
district of New Providence.

Any information should be
directed to: police emergency
at 919/911, CDU at 502-
9930/9991, police control room
at 322-3333, Crime Stoppers at
328-8477, or the nearest police
station.



















MAIN SECTION _ -—
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CLASSIFIED SECTION 36 PAGES

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Miami Herald Sports ..sssssssescenenn P1317
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3

- Concern over
houses with m;
construction fla

@ By DENISE
MAYCOCK
Tribune Freeport
Reporter

FREEPORT - Granc
Bahama Port Authority
is under fire for passing
inspections for occupan
cy of newly-built gover.
ment houses that are
plagued with major con-
struction flaws.

Minister of Housing
and National Insurance
Kenneth Russell said the
government is very con-
cerned about construc-
tion of defective houses
being built by contrac-
tors at various housing
sub-divisions in the
Bahamas.

He noted that newly-
purchased houses are
falling apart, some with-
in less than four months
of construction.

While in Grand ©
Bahama on Wednesday,
Mr Russell said that
some houses in the Sun-
set and Heritage sub-
divisions are in need of
major corrective repair
work that is estimated at
around $45,000.

He said that there are
similar problems with
new built houses, as
well, in New Providence
and Exuma.

In Freeport, the Grand
Bahama Port Authority
is responsible for issuing
building permits and
occupancy certificates _
for all new building con-
struction in the Port
area,

An official at the
Grand Bahama Port
Authority’s building and
technical department did
not wish to comment on
the matter.

The government is
now embarking ona
home repair programme
to restore government
houses that are in need
of major corrective
repairs.

Mr Russell said
although contractors are
accountable for what has
happened in Grand
Bahama, he feels that
the Port Authority and
Ministry of Works also
bear some responsibility.

“In Freeport, the final
inspection for occupancy
is made by the Port
Authority. And, accord-
ing to the Port Authori-
ty’s rules and regula-
tions, they were sup-
posed to inspect the
houses from the start.

“Personally, Iam
holding them also
responsible and I have
told them that. If you
have to make a final
inspection, the least you
can do is walk through
the house and look
around.

“There is a lady at the
Sunset sub-division who
says that her floor is
leaning. So, if an inexpe-
rienced person who has
never worked in con-
struction in their life can
see that the floor is lean-
ing, then persons who
have been working con-
struction all their life
should spot that the
floor is leaning.

“If the Port Authority
inspectors had done
their final inspection
before they signed off,
then these problems,
most of them, would
have been caught,” he
said.

Mr Russell said those
contractors responsible
for building defective
homes will be taken off
the government’s list.

“Those contractors
will have to learn to

’ build a house before
they can get contracts.
We are not going to give
contracts to people
because they are FNMs.
When I leave this place I
do not want what is hap-
pening now to be my
legacy,” he said.

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n brief

adlocked |
nman
oots man
er money

29-YEAR-OLD man was
t on. Wednesday evening
r being approached by a
adlocked gunman in the St
yans Drive area.
‘he gunman knew the vic-
1 and asked for money he
lieved was owed to him. The
‘tim explained that he clid
yt have any money with hin.
The gunman then shot the
stim with a handgun before
eeding off in a Hyundai car.

Hospital authorities said

le injuries were not life-
ireatening. A man is helping,
olice with inquiries.

an helping
olice with
nquiries
ver murder

A MAN wanted for ques-
ioning by police has been
irrested.

David Cooper Cunning-

1am, 29, was held on

Vednesday.

He is helping inquiries into
he most recent murder in
“unlight Village.

mmunition
ound during
search of
ouse

- CRIMINAL Detective
Unit officers searched a home
off Kemp Road yesterday.
Nine live rounds of ammu-
ition for a 9mm handgun
vere found.
Two male relatives, aged
1 and 29, were arrested.

Men arrested
in connection
with Nassau

‘ murder

FREEPORT - Two New
Providence men wanted for
questioning in relation to a
recent murder in Nassau
were held in Grand Bahama.

Chief Supt Basil Rahming
said police had issued an all
points bulletin and distrib-
uted wanted posters of the
suspects, who were spotted
by local residents.

He said the duo were held
at about 4.15am on Monday
when Flying Squad officers
went to an apartment at
LaFayette Gardens complex.

Eduardo Carey, 27, of 1
Windsor Road, Windsor
Estates, and Tio Davis, 21, of
Step Street, Fox Hill, were
both being sought for ques-
tioning in connection with the
recent murder of DeAngelo
Armbrister.

The men have been flown
to New Providence.

Mr Rahming thanked the
public for its continuing sup-
port in efforts to combat
crime.

$3.99yd

Huge bill expected J
to fund repairs to
government homes

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - A number of
newly built low-cost govern-
ment houses are in need of
major corrective work to repair
extensive construction flaws —
some estimated at around
$45,000 — in Nassau and
Freeport, a government minis-
ter has revealed.

Minister of Housing Kenneth
Russell stressed that the gov-
ernment is very concerned
about the numerous problems
being experienced by new
homeowners in various hous-

ing sub-divisions in the

Bahamas.

He noted that newly-pur-
chased houses are falling apart
within less than four months of
construction.

While in Grand Bahama on
Wednesday, the minister and
various housing officials visited
several housing sub-divisions
throughout the island.

During a press conference
held at the Ministry of Hous-
ing, Mr Russell not only blamed
contractors for the shoddy con-
struction of homes, but also
pointed his finger at the Grand
Bahama Port Authority and
Ministry of Works, which are
responsible for conducting
building inspections.

Mr Russell said the govern-
ment is now embarking on a
Home Repair Programme, to
repair faulty houses that were
not built according to proper
specifications.

He noted that one house in
the Heritage sub-division, which
has a construction value of
$60,000, is in need of some
$45,000 worth of corrective
repair work.

He also said that two or three
other homes are also facing sim-
ilar repair work in New Provi-
dence.

Some of the major problems

‘Contractors accused of shoddy
workmanship by Kenneth Russell







KENNETH Russell

that are cause for concern are
extensive wall cracking, ceiling
collapse and leaky roofs, as well
as floor, plumbing and electrical
problems.

“We are very concerned
when someone purchases a
house and in less than four
months that house is leaking.
We are very concerned when
someone purchases a house
three years ago and has been
complaining for three years
about cracks that should have
been repaired.

“We are very concerned that
here in Freeport we have a
house that is going to cost
$45,000 to repair and has a con-
struction value of $60,000,” he
said.

Minister Russell said govern-
ment will send a team of inspec-
tors to review the homes and
speak with homeowners in an
effort to correct the problems.

Once a review is completed
and inspection carried out, he

New Supreme Court
judge is appointed

ESTELLE Evans has been
appointed by Governor Gener-
al Arthur Hanna, on the advice
of the Judicial and Legal Ser-
vice Commission, to act as a
Supreme Court judge, in effect
from September 1, 2007, for 18
months.

Mrs Evans will be assigned
to the northern region and pre-
side at Freeport, Grand
Bahama, with effect from

_November 1, 2007, succeeding

Mr Justice: Maynard.

Currently serving as registrar
of the Supreme Court, Mrs
Evans was admitted to the
Bahamas Bar on December 16,
1988, having served articles of
clerkship under Mr Frederick

: - Smith of Callenders and Co as
an associate for six years.

Mrs Evans is married to Chief
Supt Shannondor Evans.

Born in Forbes Hill, Exuma,
on November 19, 1954, Mrs
Evans graduated from Prince
William Baptist High School,
1970, and in 1974 graduated
from Shaw Business College,
Toronto, Canada.

Joining the Office of the Judi-
ciary as the deputy registrar,
northern region, in January,
1995, she served in that post
until she was seconded to New
Providence to serve as acting
project co-ordinator of the
Bahamas Integrated Justice
Information Systems (BIJIS)
Project, a post she held until
her appointment as registrar of
the Supreme Court on March
1, 2004.

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said the government will obtain

an estimate for the repair work
so that contractors can begin
repairs.

Mr Russell believes that fund-
ing for the Home Repair Pro-
gramme should be available
next month after the budget.

“We will first engage inspec-
tors that are not inspectors of
the Ministry of Housing to
inspect houses...and this time
we will allow for there to be
negotiations in the selection of
contractors based on their expe-
rience and knowledge,” he said.

Mr Russell warned that con-
tractors responsible for the
shoddy construction will be held
accountable by the government.

“Contractors who botch up
people’s houses will be held
accountable in two ways: one if
they have not gotten their pen-
sion money yet, in order to get
it, they will have to repair the.
house. Two, if they have gotten
their pension money and are

not prepared to assist us in the _

repair of homes, they will be
removed from our list of con-
tractors,” he said.

In addition to contractors, Mr
Russell said that the housing
inspectors, housing staff, the
Grand Bahama Port Authori-
ty, and the Ministry of Works in
Nassau are all accountable for
what has happened.

“The former government is
also responsible for what has
ee .the people of the

Bahamas have already dealt
with them. I assure you we (the
FNM government) have no
intention of this happening
again as long as we are in
office,” he said.

007 Pier








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stare tates
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PAGE 4, FRIDAY, JUNE 22, 2007



- TRh



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Another look at health care is needed

THE Nassau Institute and The Atlas Eco-
nomic Research Foundation sponsored an inter-
esting half-day symposium yesterday on chang-
ing the direction of a country to re-energise its
talents. It was a pity that government was not
represented, because with the challenges the
Bahamas now faces, new ideas should not only
be welcomed, but eagerly sought.

However, at least Health Minister Dr Herbert
Minnis will benefit from the wealth of healthcare
knowledge amassed over the years by Dr
Michael Walker, an economist, and founder of
The Fraser Institute with offices in Vancouver,
Calgary and Toronto. They were to meet yes-

terday afternoon after Dr Walker had complet- —

ed his healthcare talk at Atlantis, where the
symposium was held.

Dr Walker was one of three speakers — all
very interesting in their own fields — who the
Institute introduced to Bahamians.

At the symposium Dr Walker talked about
the lessons that Bahamians should learn from the
global experience of others so that in planning
their own health care reform, they can avoid
serious and costly pitfalls.

Calling the.proposal set out by the Report of
the 2004 Blue Ribbon Commission on Nation-
al Health Insurance (BRC) — commissioned
by the Christie government — a tax that will
eventually consume the national budget, he
warned Bahamians not to put their health care
in the hands of politicians.

Drawing a great deal from the Canadian
model, which he found very similar to the one
proposed for the Bahamas, he gave facts:and fig-
ures of how national health insurance in Cana-
da has failed to deliver what it had promised
— in fact, he said, Canadians were not “getting
what they paid for.” According to him, the Cana-
dian model was not one to follow. Even the
Canadian Supreme Court had ruled that cer-
tain of its provisions ‘were unconstitutional
because it denied a person’s free choice to med-
ical care.

Giving many examples of how patients did
not get the standard of care that politicians
promised, he told the story of Saskatchewan,
where hospitals were erected on almost every
street corner to buy votes, but once completed,
they were not funded. Here in the Bahamas the
Christie government talked of the clinics that
would be erected, especially on the Family
Islands, under the scheme. The government was
stopped in its tracks when Bahamian nurses
asked a very practical question: With the present
shortage of medical staff, who is going to man
the new clinics? That question was never
answered.

289 Market St. South @ P.O. Box N-7984



5 CUBE $318.00

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“Don’t limit your challenges,
challenge your limits.”

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7:00am, 9:00am, 11:15am

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Marriage Officer, Counsellor, Intercessor
Phone: 323-6452 © 393-5798
Fax: 326-4488/394-4819

Studying the BRC report, Dr Walker ques-
tioned whether those who put it together had at
any time studied the wealth of world statistics
that would have guided them from the model
they had chosen. He suggested that they should
have been looking instead at the healthcare of
Australia, Sweden and Japan.

All statistics proved, he said, that no govy-
ernment can afford to provide the same quality
of healthcare without some limitations. Choices
had to be made as to which patients would be
cared for, and how far that care could econom-
ically be sustained.

Canada, for example, had the costliest sys-
tem with, as far as patients were concerned, the
worst healthcare available. In Canada there
were no choices. There were no private hospitals.
All were government owned. He said that
healthcare expenditure in all of Canada’s
provinces overtook that country’s total revenue
between 1997 and 2005.

Even with such high expenditure, patient
access to healthcare shrank and the quality of
service worsened. Even Alberta with all its oil
wealth performed no better in providing health-
care than did the other Canadian provinces.
Countries that also have private health care do
better by their citizens, he said.

In his opinion government’s Blue Ribbon
Commission was introducing a “Trojan horse”
into the future of Bahamians. “I don’t think
they realise what they are proposing,” he said.

Like household and car insurance, he said,
health insurance should only cover catastro-
phes. For example, no one would expect insur-
ance to pay for a tyre change or oil leak in a car.
These would be considered ordinary running
expenses. By the same token, health insurance
should only be called on for serious health prob-
lems, not for the occasional headache or cold
fever. One only had to recall Russia, which had
tried the impossible while the world watched
its rapid decline.

Dr Walker predicted that if national health
insurance were managed by the National Insur-
ance Board (NIB), as recommended, it would
“blow out a lot of dough, and not provide what
you want.”

Even the Blue Commission Report had to
admit that a study of the efficiency and effec-
tiveness of NIB showed that it was “overstaffed
by approximately 25 per cent and that it needs to
significantly improve its management processes.”

Right from the beginning, the BCR had writ-
ten into the programme the formula for failure.

This is a scheme that needs much expert con-
sideration. If handled badly, it could destroy
this country.



Qualifications:

including weekends

skills

customer service!

Planning for
development

EDITOR, The Tribune.

AS Abaco grows and devel-
ops ever more rapidly we need
to take pause for a few
moments.

Reflect.

Economic growth is essen-
tial for development, and we
all know that. It provides for
improved living standards, bet-
ter welfare systems, improved
infrastructure, construction,
and in a tourist economy, more
and more resort project initia-
tions. Employment rates
increase, people spend more,
and communities tend to feel
fatter and happier.

Expanding economies:

require more and more physi-
cal space, and land values ele-
vate as property demand
becomes more competitive.
Remote areas of the landscape
become more attractive for
both speculative investments,
as well as for social infrastruc-
tural development. As pressure
increases on remote areas, so
does the pressure on endemic
and indigenous ecosystems,
habitats, species and land
forms.

We must all remember that
the attractiveness of our coun-
try relies on, and, is a product

of our natural resources and.

ecosystems.

Our beautiful beaches and
shallow seas are a synergy with
our living coral reef habitats,
which maintain a protective
barrier against the extreme rav-
ages of winter storms and hur-
ricanes.

Our swamp lands, creeks,
and marls generate unique
forests full of unusual birds,
insects, crustaceans, fish, rep-
tiles and, now, mammals.

These same tidal creek sys-
tems provide nursery areas for
our commercially exploited
marine species, including lob-
sters, scale fish, and the highly

desired land crab.

These same tidal low lands
provide a buffer zone between
the pinelands and the raw
exposure of the oceans and
deep seas. They also provide a
gradient along which the fresh
water run off from the aquifers
of the pine yards can flow sea-
wards, and so help support our
unique mangrove habitats.

The pine forest areas are
essential for the generation of
the high levels of rainfall expe-
rienced in all the northern
islands of the Bahamas. Fresh
potable water is the result, and
presently we have an ample
supply. These pine areas have
also been periodically devel-
oped for large scale agricultur-
al production systems of many
thousands of acres.

The drier coppice and hilly
greenlands are again unique in
species and habitats, providing
large amounts of forage for
native bird species and reptiles,
butterflies and moths. These

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areas occur mainly along the
coast behind the beautiful
beaches; and have become high
value real estate ripe for the
foreign capital we so urgently
require.

I could go on and on quoting
examples of natural systems
and commercial values so
important for the Bahamian
economy. However, as earlier
mentioned, we rely totally on
our natural systems for our
very high standard of living.
We also want and need to keep
it this way.

As development takes place,
and the pressure on natural sys-
tems increases, so does the
potential for destructive prac-
tices. We as a people have
already seen the need for habi-
tat and species protection. The
Inagua National Park (flamin-
gos), the Exuma Land and Sea
Park (marine ecosystems), and
the Abaco National Park (par-
rots); are examples where
species conservation dictates
habitat protection to support
those species. This is why pro-
tected areas tend to be so large.

Environmentalists would be
much happier if all the sensitive
areas were protected and con-
served, with severe limitations
on development. However we
all realise that to maintain our
well being and provide for
future generations physical
expansion and development go
hand in hand with improved
standards of living.

This why we need to take
pause.

Reflect.

In our headlong rush for
development we must all
accept that to protect our way
of life we also need to protect
and nurture our natural envi-
ronment. To this end we must
take on the onus of acting
responsibly. We need to learn
to plan for development; and
we need lots of information to
be able to plan. So we need
access to the knowledge of

¢ Localised information

e Resource assessment and
environmental considerations

e Existing institutions, struc-
tures and operations in the area

e Future area growth,
demands, and consequences

e Regulations and legal
aspects

e Taxation and exemptions.

e Consequences of irrespon-
sible actions

The above represent just a
few examples of information
we need in order to plan effec-
tively for development. It also
clearly demonstrates the need
for consultation.

Local councils, local com-
munities, local governmental
agencies all have a wealth of
information available for plan-
ning. However they all become
impotent when local input is
bypassed and central govern-
ment is utilised to more rapid-
ly approve a development pro-
ject.

There are instances where
approval may never be sought
because local monitoring is
ineffective, because of arro-
gance, and because of lack of
knowledge and thought. All
three present a potential for
permanent environmental
damage.

Here in Abaco we presently
have three examples of recent
infringement on natural sys-
tems with the potential for
future severe consequences.
Two involve the Government

of the Bahamas (arrogance,
and the third a lack of thought
and corisultation by a loca
equipment operator.

The central government, in
its quest to provide an
improvement in the waste han-
dling fiacilities of the Bahamas
has seen fit to forge ahead with
the construction of a waste
landfill site and two satellite
transfer stations with no real
local consultation, no apparent
seeking of permits and
approvals, and no considera-
tion for the Abaco environ-
merit. The result has been the
ongoing construction of two
waste (reception and) transfer
sites situate in environmental-
ly and socially sensitive areas;
where permanent irreversible
damage to local potable water
sources, agricultural, and eco-'
touristic institutions are not
only possible, but likely.

The third involves the use of
heavy equipment to begin land
clearing and road preparation
in the protected area of the
Abaco National Park. This pre-
sents a distinct and probable
threat to the contiguity of the
area and its eventual fragmen-
tation. Once this happens then
irreversible damage to the ecol-
ogy of the park becomes appar-
ent. \

The above examples all ,
expose a lack of consideration
and concern for the local Aba-
co landscape, and a total disre-
gard for local institutions and
welfare. In the case of the .
Bahamian government this is ~
both frivolous and irresponsi-
ble, and reflects a level of
incompetence only exceeded :
by its arrogance in its refusal
to take a reparative course of
action. All the above cases pre-
sent a real and potentially dev-.
astating effect on our natural
heritage and ecosystems. The
implications for the future are
immense.

The only way to prevent
future instances and occur-
rences such as these is for the,
Abaco community to prepare a
comprehensive ‘Plan for
Development’ which must take
into consideration all the facets
implicit in a growth strategy
for the island.

These must include social,
economic, and infrastructural
considerations, land and
marine systems, ownership,
access, resource exploitation
and other environmental con-
siderations.

Other physical factors such
as climate, sea levels, weather
changes, coastline resilience,
habitat alterations and effects
on resource health and conser-
vation need to be considered.
This is especially so for potable
water, commercially exploited
species, nursery areas, histori-
cal and ecologically sensitive
sites such as blue holes and vir-
gin lands.

It is important to consider
that with a rapidly developing
economy and a huge area of
unexploited resources, includ-
ing prime land for real estate
development, the Abacos hold
the potential to become the
seat of the economy for future
growth in the Bahamas.

It is terrifying to think of
the consequences of this with-
out a proper and implemented
plan for development.

The choice is ours.

Take pause for a moment.

Reflect.

JOHN F HEDDEN
Marsh Harbour, ,
Abaco,

May 21, 2007.

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BUNE

n brief

police
ze $55k

firearm,
est man

EEPORT — Grand
na police arrested a
man at Lucayan Har-
ind seized $55,000 in
ind an illegal firearm
ered onboard the MV
1.
ice said officers, acting
formation, went to the
yur at about 8pm on
day and boarded the
oat. They saw a young
fitting the description
to them of a suspected
n.
e suspect was walking
ly away from the vessel
rds the gate. As police
oached, the man tried
e but was apprehended.
lice took him back on
1e vessel to a section
re the officers retrieved
5 semi-automatic pistol
ed with four live bullets.
hey also seized $55,680
, which is suspected of
g the proceeds from a
inuing criminal enter-
s a result, a 23-year-old
lent of New Providence
Grand Bahama was
sted and taken into cus-
’ at the Central Detec-
Unit, along with the
d items.
he man was formally
rged on Thursday.

Share
your
news

The Tribune wants to hear

from people who are
making news in their
neighbourhoods. Perhaps

you are raising funds for a

good cause, campaigning
for improvements in the
area or have won an
award.

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

FRIDAY, JUNE 22, 2007, PAGE 5



‘Bahamas endorses

CSME — but still
won't sign on

A JOINT statement was
released from participants of
the Conference on the
Caribbean in Washington DC
highlighting, among other
things, recognition that the
establishment of the CARI-
COM Single Market and Econ-
omy as a critical element of the
growth and development strat-
egy of the Caribbean Commu-
nity.

Despite endorsing the agree-
ment, the statement on CSME
does not bind nations such as
the Bahamas to any specific
policies.

The FNM government made
it clear during its budget com-
munication that it will not sign

on to the agreement, which was
a significant point of national,
debate under the PLP govern-
ment.

Some key components of the
agreement include the free
movement of goods and ser-
vices, a common external tariff
and a common trade policy.

However, the free movement
of labour provision of the agree-
ment received the most criti-
cism, with many Bahamians
fearing an influx of poor depen-
dent Caribbean citizens to fur-
ther compound the large illegal
Haitian migrant problem that
successive Bahamian govern-
ments have been unable to tack-
le.

Members also expressed a
commitment to extend co-oper-
ation in health, continuing the
US President's emergency plan
for AIDS Relief (PEPFAR) in
the Caribbean.

The emergency plan is the
largest commitment ever by
any nation for an international
health initiative dedicated to
a single disease - a five-year,
$15 billion, multi-faceted
approach to combating the dis-
ease around the world — which
includes 32 countries from the
Caribbean and Latin Ameri-
ca.

A further commitment, too,
was made to work toward
expansion of the pilot reinte-



& HUBERT Ingraham shakes hands with US President George

W Bush

gration programme for depor-
tees in Haiti to include other
CARICOM member states,
along with the development of
new ways to facilitate, co-ordi-
nate, and communicate between
immigration services among
member states.

The group further offered a
vote of confidence in the gov-
ernment of Haitian President
Rene Preval, though acknowl-









edging that the country will
require further substantial inter-
national "support in the imple-
mentation of a consistent and
long-term strategy of institution
and capacity building."

In the post-September 11
environment, the group further
pledged to work together in the
fight against terrorism, traffick-
ing in persons, drugs and small
arms, and transnational crime.

THE owner of a private
island in Exuma has boasted he
has more gun permits than any-
one in the Bahamas, claiming
‘it’s who you know.’

Jack N. Halcomb, whose
Leaf Cay goes on the auction
block at $12 million later in the
month, is quoted by ABC News
as saying he has five gun per-
mits - “more gun permits than
any other person in the
Bahamas.”

“They don’t easily issue you
permits for one gun,” Halcomb
said. “If you know the right
people you can get them,” ABC
reports.

Halcomb’s 15-acre island,
with its beautiful beaches and
two residences, is expected to
draw opening bids of $12 mil-
lion.

“It’s not for everybody, but
it’s a real good place to get
away, completely relax,” Hal-
comb, who’s owned the island

for 20 years, told ABC
News.

The auction is sched-
uled for June 28 in Fort
Lauderdale, Florida.

Nearby islands are
owned by superstars John-
ny Depp, Nicholas Cage,
David Copperfield and
Eddie Murphy.

“It’s isolated. Nobody
gives you any trouble,”
Halcomb said.
could stand on the beach
naked for a week and
nobody would ever see you.”

Leaf Cay is one of 17 of the
roughly 800 inhabitable islands
in the region that has its own
title, according to Louis “Ben-
ny” Fisher, chairman of Fisher
Auction Co,

Halcomb bought the island
in 1986 for $650,000.

He told ABC he made $25
million worth of property
improvements since he first

A FRIENDLY REMINDER

MASS DISCONNECTION EXERCISES
IN THE FOLLOWING AREAS:

Mt Royal Ave, Hawkins Hill, Palmdale, Mackey St and
Murphyville. Yamacraw, Elizabeth Estates, Kool Acres,
Lumumba Lane and Hanna Rd, Sandilands Village, Seabreeze
Lane, Eastern Estates and San Souci. Marshall and Cowpen
Rd including Misty, Pastel and Faith Gardens, Golden Gates,
Carmichael Rd, Yellow Elder Gardens and Bluehill Estates.

PRIORITIZE!

PAY ALL ARREARS ON YOUR BEC BILL IMMEDIATELY!

All overdue BEC payments must be made at the Head
Office on Biue Hill and Tucker Roads, the Mall at Marathon

or the Main Post Office.

Powering The Bahamas for Generations





ou @ LEAF Cay seen from



the air

moved in and ran his business
part-time from the Bahamas,
selling electronic surveillance
equipment to the military and
law enforcement agencies.

Initially, he ran the company
in Florida before moving the
business to his island. In 1992
he sold the company, Audio
Intelligence Devices, to West-
inghouse.

But skin cancer made Hal-
comb, who now lives on a Ken-




PART OF YOUR LIFE




SmartChoice

tucky ranch, decide to
sell the island.

“The doctors
ordered me to get out
of the sun. ... They
said: get rid of the
island or make funeral
arrangements,” he told
ABC News.

Leaf Cay is self-suf-
ficient.

A seven-mile under-
sea cable — Leaf Cay’s
one of the few islands
tied into the Bahamas
power system — six back-up gen-
erators and two dozen solar
panels provide a steady supply
of electricity.

Drinking water is supplied
by underground cisterns that
capture and store up to 145,000
gallons of rain water. A back-up
desalinisation plant was
installed seven years ago that
can turn 5,000 gallons of sea-
water into drinking water.



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Leaf Cay has its own wood
and metal shops, seven electric
golf carts, a fork-lift, tractor and
lots of building supplies.

Halcomb says he bought
everything, including tyres, nuts
and bolts, ‘lock, stock and bar-
rel’ when a Florida hardware
shop went bankrupt.

He has four spare refrigera-
tors still inthe box.

A freezer building holds up
to 4,000 pounds of frozen food -
Halcomb says he keeps two to
three years worth of canned and
frozen supplies.

Just as he didn’t have to wor-
ry about his safety, Halcomb
never feared that he’d starve.

TROPICAL

ee
mea MeL
ST area yy





















THE TILE KING, FYP LTD, THE TRIBUNE,
have partnered to supply critically needed
DIALYSIS MACHINES
for the Princess Margaret Hospital

SAVE A LIFE,
—ITCOULD

Pia: s Help us raise $164,000 |
(I-r) - Barry Packington, financial controller Kelly's; Sean D. |

Moore, marketing manager, The Tribune; Nancy Kelly, execu- to purchase 8 dialysis
tive vice president, Kelly's; David Kelly, president, Kelly's. machines for the PMH.
Donation $20,500. |
You can donate
aoe ; ne $1.00 - $100,000 every cent counts.





Each dialysis unit costs $20,500
which includes complete installa-
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. | The Princess Margaret Hospital
(It) Mark Roberts, Tile King & FYP Ltd.: Michelle Taylor, office Foundation with a note for The

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manager - The Tribune. Donation $2,000. Dialysis Machine Fund.



Your contribution will help hundreds
of patients that currently rely on
these machines for life.

ks | + Contact Sean D. Moore of The
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(I-r) Mark Roberts, Tile King & FYP Ltd.;Garry Julien, manag- Hospital Foundation at 325-0048 to

er - Cowpen Building Supplies; Adriel Julien, secretary - |
Cowpen Building Supplies; Robert Carron - The Tribune. make a donation.

Donation $20,500.



3UNE FRIDAY, JUNE 22, 2007, PAGE 7
- LOCAL NEWS



THE TR:

TALL
a ACU



Atlantis eatery has
taste of the east



an

, eevee

- ee ook QE

aasnwoenwws























ari
FP
Baha
young
bour .
cash «
discos
Fiest
Po, _ . eS i
ee @ CRISPY crab wontons M@ HONG Kong steak features i THE mixed seafood
Tuée include garlic cream cheese New York steak stir-fried with selection features lobster,
mailt and crab-filled wontons served peppers and onions in a garlic jumbo shrimp, scallops tossed
San —_—_— with chili plum sauce. pepper sauce. in white wine sauce served on
sek $ 147 600 a bed of pan-fried noodles.
Th THE newest Atlantis restau- “We wanted something con- _ internationally renowned Mar-
quic! — rant, Chop Stix, has brought an temporary and unique and we tin Yan of the popular PBS
tows $ l 3 l 200 oriental touch to the Paradise thought Chop Stix was all of the series “Yan Can Cook’, as well
appr — 9 Island resort. above, in that people willimme- in the kitchens of well known
to fle Formerly called Mama Loo’s, _ diately know that it’s a Chinese _ restaurants, including the Unit-
Pc a the Chinese restaurant opened _ restaurant,” said Mr Lahr. ed States’ popular P F Chang’s
tot’ $1 14 800 its doors to great fanfare after Innovative Chinese food China Bistro.
whe ——— 9 undergoing a transformation of | infused with some Bahamian . Atlantis’ food and beverage
a2 its menu and a major renova- elements is how Mr Lahr _ team is confident that the new
loac = tion of the restaurant. described the Chop Stix cuisine. restaurant, managed by
i Peter Lahr, Atlantis’ general Mr Lahr commended the Bahamian Liz Seymour, will
cas} eae $98 ADO manager of restaurant and bar restaurant’s new chef de cui- add a new dimehsion to the
bei 9 operations, said the restaurant’s sine, Dennis ‘DJ’ Cheek, an __resort’s dining experience while
con = new name reflects the type of | expert cook who has worked __ providing guests with a taste of
pris. cuisine that it serves. with celebrity chefs such as _ fine Asian-Bahamian cuisine.
A —
resi:
o $82,000
arre
tod: oe
tive
: — $65,600
T s 9
che

~_ $49,200
_ $32,800

___ $16,400

Boshi



@ CHOP Stix’s chef de cuisine, Dennis ‘DJ’ Cheek, at centre, displays Asian-Bahamian cuisine
featured in the new restaurant at Atlantis, From left: Dwight Sands, Rollington Sands, ‘DJ’,
Cowan Thompson, Michael Russell and Dantley Jolly.



Donations to date.

Edward E. Patton « Annette Rolle ¢ Antoinette Rolle e Howard N.
Darville e Rolden & Associates ¢ The Elodie Tomlinson Memorial
¢ Sidney Johnson e lan & Janet Jennings e Media Enterprises
e Anthony & Irene Miaoylis

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PAGE 8, FRIDAY, JUNE 22, 2007

THE TRIBUNE





Second class graduates from Lyford Cay

FIFTEEN students became
only the second-ever graduating
class from Lyford Cay Interna-
tional School.

The students were honoured
at a graduation ceremony held at
the Sandal’s Resort where Col-
lege of the Bahamas president,
Mrs Janyne Hodder, was the spe-
cial guest speaker.

Principal Dr Paul Lieblich said:
“This is a momentous occasion
for our seniors and a great accom-
plishment for the entire school.
The graduation ceremony signi-
fies the latest achievement in the
development of the school, which
has progressed extensively over
the last five years.

“We're only the second-ever
graduating class to come out of
Lyford Cay,” remarked LCIS
valedictorian Georgette Stubbs.
“It’s a really great honour.”

Georgette, along with six other
students, is a candidate for the
prestigious International Bac-
calaureate Diploma.

Lyford Cay International
School is the only school in the
Caribbean offering the full range
of International Baccalaureate
programmes.

The Graduates:

Christian BARRIOS

Is Canadian-Mexican. He has
been a student at LCIS since 2004.
He is a full IB Diploma candidate
taking: English Al, Spanish B,
mathematical studies, information
technology in a global society,
biology, chemistry, theory of
knowledge plus completing an
extended essay in ITGS.

Christian has an acceptance at
Brock University in Canada

San dals Royal Bahamian Resort &
Offshore Island

Invite application for the position of:

OPERATIONS MANAGER

University degree in Hotel Management
Must have at least 10 years as a Senior
Manager or similar position

Experience at a 4 or 5 diamond Hotel
Proficiency in several foreign languages

would be an asset

Strong communication skills oral and

written

Willing to work long hours
Strong organizational and leadership

skills

Competitive compensation package
commensurate with relevant
experience and qualifications.

Send resumes: email to

cmajor

srb.sandals.com or

Fax -242-327-6961

Pinder's Funeral Home

“Service Beyond Measure’

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

RANNIE PINDER President
FUNERAL SERVICE FOR THE LATE

Mrs. Elsie Joanne Griffin 47

of The Current, North
Eleuthera, will be held at
the Current Methodist
Church on Saturday June
23rd, 2007 at 11:00 a.m.
Burial will be in the
Public Cemetery. Dr.
Reginald W. Eldon,
secretary tO: the
Conference, Rev. Carlos
A. Thompson, Rev. James
D. Neilly, and Rev.
William R. Higgs
officiating.

where he will study computers
and video game design. His ambi-
tion is to pursue a career in video
gaming.

Unsurprisingly, his favourite
subject at school is ITGS. He

hopes to travel the world after .

he graduates and to work in dif-
ferent countries.

Alexa BERNAL

Is an American. She has been a
student at LCIS since 2004. She is a
full IB Diploma candidate taking:
English Al, Spanish Ab Initio,
mathematical studies, information
technology in a global society, biol-
ogy, visual arts, theory of knowl-
edge plus completing an extended
essay in English. Alexa has an
acceptance at the Pre-Veterinary
Medicine School at the University
of Miami. Her ambition is to open
an animal clinic in Nassau. Her
favourite subject was ITGS because
she says it was the easiest for her.
The best piece of advice she ever
got was “just do it and don’t let
anything stand in your way.”

Anastacia BETHEL

Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at Acadia University in Cana-
da to study international banking
with foreign investments com-
bined with foreign languages
(Spanish and French).

Her ambition is to be multi-lin-
gual and use that for her career
and travel the world. Her
favourite subjects include Eng-
lish, Spanish and the visual arts;
she got a lot of care and support
from her teachers and these sub-
jects gave her the freedom to
demonstrate both creativity and
individuality.

Lauren CAMPBELL

Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at the State University of New
York Maritime where she will
study to obtain the 3rd mate’s
licence in engineering. She wants
to be the best female maritime
engineer in the Bahamas and in
the future she wants to make a
mark on the international mar-
itime industry.

Addington COX

Is a Bahamian. He has been a
student at LCIS since 2000 when
he started in Grade 6. He is a IB
Certificate candidate. He took IB
examinations in: English Al,
Spanish Ab Initio, mathematical
studies, history, biology, and
chemistry. He will attend the Uni-
versity of the West Indies in Bar-
bados to study meteorology. His
dream is to be a successful per-
son and contribute in a positive
way to Bahamian society. His

favourite subject at school was

biology because he found it very
interesting and he hopes to pursue
further courses at college in the
future.







@ VALEDICTORIAN Georgette Stubbs receives her certificate
from Michelle Cove, chairman of LCIS Board and Dr Paul

Lieblich, LCIS principal

Keenan EHRHART

Is an American. He has been a
student at LCIS since 2005. He is
an IB Certificate candidate. He
took IB examinations in: English
Al, Spanish B, mathematical
studies, history, biology, and visu-
al arts. His favourite subject at
school was history both for the
fascination he has for it and the
inspiration he got from his
teacher. He has acceptance at
Ozark Technical Community Col-
lege in Missouri. Initially, he will
study general courses and then he
wants to major in drama and cre-
ative writing. His ambitions
include getting a teaching degree,
start a band and become a famous
musician.

Katia HAMMERER vie

Is French. She has been a stu-
dent at LCIS since 2003. She is a
IB Certificate student. She took
IB examinations in: English B,
Spanish B, French B, and visual
arts. She is going to pursue on-
line courses to study pet grooming
and training as well as develop
her skills in graphic art by taking
additional courses. Her ambition
is to open up her own business
that specialises in pet grooming.

Meaghan HOLOWESKO

Is Bahamian-American. She
came to LCIS in Grade 2 in 1996!
She is an IB Certificate student.
She took IB examinations in: Eng-
lish Al, Spanish Ab Initio, biolo-
gy, mathematical studies and visu-
al arts. Her favourite subject is
art as she enjoyed it immensely
and was inspired by her great
teacher. Meaghan’s plans for next
year are to take courses both in
the culinary arts in London and
New York as well as courses in
the visual arts. She hopes to run a
marathon in five years time.

Gregory MUNNINGS

Is a Bahamian. He has been a
student at LCIS since 1994 — 13
years! He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, histo-
ry, biology and chemistry. His
favourite subject was English for
the engaging and effective way it
was taught. Gregory has been
accepted at the University of
Tampa to study marine science
and marine zoology. His ambition
is work with marine animals and
to be close to water. He is proud
of the fact that he has kept two

Card of Fi banks For Tho Rate

"Pompi" | Mackey
Dediitiber 21, 1939 - “May 1%

Elsie's memory will be cherished forever by her
husband, AI; daughter, Audra; son, Eric; mother,
Ivy; son-in-law, Lester; grandsons, Kristian and
DeNiro; sisters, Dianne and Janice; brothers, Reg,
Geoffrey and Gary; sisters-in-law, Lolly, Jeannie,
Irma, Carol, Madge, Barbara and Joanne; brothers-
in-law, Kingsley, Johnnie and David; godchildren,
Chrystal, Halle and Kyle; nieces, Tammy, Maria,
Lynn; Heather, Dorian, Rochelle, Heather, Rachel,
Cheyenne, Tina, Kelly, Charlotte, Nicole, Alexis,

Kila, Brandi and Madison; nephews, Gary, Roger,
Ron, Jordan, Alan, Damian, Raven, Frankie,

Alexander, Apollo, Brady, Tyler, Lorenzo, Tushar;
Evan, Brian and Christopher, special friend, Melissa;
aunts, Geraldine, Rowena, Alice, Dot, Rosalee and
Dorian; uncle, Carl and a host of other relatives and
friends especially, Gloria, Janet and Reginald Eldon,
Osbourn and Shirley Weech, Janet Donahue, Berlene
Elden, Sue and Raymond Martin, Audrey and Steve
Symonette, Bernadette Collins, Margaret Albury,
Gayle Colebrooke, Denise Newbold, Rev. Carlos
Thompson and family, Nurse Dan and the entire
community of The Current.

In lieu of flowers donations may be made to the
Cancer Society of the Bahamas P.O. Box SS-6539
in memory of Elsie Griffin.



No more smiles and sappy chim i
No more talking of times, only Flashbacks o
onderful years we shared, You were always there to
comfort us through our joys and teats.
We thank you for contributing to our lives,

You were a loving husband, father, grandfather,
brother, uncle and friend. We Will never forget you,
Pompi; Sleep on in the arms of Jesus, and take your

sweet rest until we meet again.

Special thanks to; Rev'd Dr. Keith A Russell and the
Fellowship Union Baptist Church family, Rev'd Dr.
Fred Newchurch and the Central Church of God

family, Deacon Fred & Mrs. Ramsey, Freeport Gospel

Chapel Church family, Mount Carey Baptist Church
family, Members o Parliament, Zhivargo Laing,
Minister of State, Kenneth Russell, Minister of
Housing, Kwasi Thompson, Deputy Speaker, Senator
Pleasant Bridgewater, Senator Frederick McAlpine,
Doctors & Nurses at the Emergency and Male

Surgical ward, Rand Memorial Hospital, Management
& Staff at the Westin & Sheraton, Our Lucaya Resort,

Management & Staff at Advance Cable, Coral
Springs, Florida, Mr. & Mrs. Alex Pratt, Mr. & Mrs.
Henry Thurston, Mr. & Mrs. Nelson Knowles, Mr. C.
A. Smith & Family, Mr. & Mrs. Prince Smith &
family, Management & Staff of former Princess
Casino, Management & Staff of Oasis, The Gaming
Board, Freeport Container, Royal Bahamas Police
Force, Grand Bahama.

God Bless You All.

"Sylvia Mackey & Family"



(Photo: Tim Aylen)

friends, one from Korea and
another from Canada, for a long
time. To him that also represents
internationalism.

Jenny Sella

Is Italian. She has been at LCIS
for one year and started in
August, 2006. She already com-
pleted high school in Monaco,
France. She came to the LCIS to
improve her English linguistic
skills. Jenny is an IB certificate
student. She took IB examina-
tions in English B, French B and
Spanish B. She also took other
regular high school courses. She
plans to go to an Italian universi-
ty to pursue a course in transla-
tion. Her future plans include
working as an interpreter at the
_European Union. Jenny says that
while in the Bahamas she has
learnt to be patient and enjoy the
Bahamian breakfasts!

Jonathan Shiel-Rolle

Is Bahamian. He has been a
student at LCIS since 1996. He
started in Grade 2. He is a full IB
Diploma candidate taking: Eng-
lish A1, Spanish Ab Initio, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in music. Jonathan has been
accepted at Lynn University, Boca
Raton, Florida, USA. He hopes to
play soccer professionally. As he
says, “Soccer is my life.”

Georgette STUBBS (Valedic-
torian)

Is Bahamian. She has been a
student at LCIS since 1994 — she
started in kindergarten. She is a
full IB Diploma candidate taking:
English Al, Spanish B, mathe-
matical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in the visual arts. Her favourite
subject at school was art. She will

. be attending the University of

Western Ontario, Canada, and
will study business administration
and management studies. Her
ambitions include getting a mas- ~
ter’s degree, continuing with her
passion for art and eventually’
starting her own business.

Philipp STUBBS

Is Bahamian. He has been a
student at LCIS since January,
2001. He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, infor-
mation technology in a global
society, biology, and chemistry.
He enjoyed his English classes the
most because they were fun.
Philip plans to work and earn
some money over the coming year
and then he plans to study engi-
neering.

Lourdes
(Salutatorian)

‘Is Mexican. She has been a stu-
dent at LCIS since her Grade 6 - ©
for the past seven years. She is a
full IB Diploma candidate taking:
English B, Spanish Al, mathe-
matical studies, history, biology,
visual arts, theory of knowledge
plus completing an extended essay
in Spanish. Her favourite subjects
included art and English because
of the passion and interest that
her teachers exhibited. Lourdes
has been accepted at Cesar Ritz
Colleges in Switzerland, which
specialises in hospitality, tourism
and management. She wants to
continue to study and be the best
person that she can be.

‘Indira VIDALES

Is Peruvian. She has been a stu-
dent at LCIS since 2004. She is
an IB Certificate student. She
took IB examinations in: English
B, Spanish Al, mathematical
studies and biology. Indira’s
favourite subjects were Spanish
and math. She is going to pursue a
course in paralegal studies at Mia-
mi Dade College. Her ambition
is to follow a legal career.

VALDOVINOS

ASTRO CLUB

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Astronomy

June 23 to August 25, 2007
Saturdays, 7 pm - 9 pm

7 pm: Meet at Genesis Academy
(Parking available in school yard)

8 pm: Meet at Cosmos Observatory

REGISTER NOW!

COSMOS OBSERVATORY
Medical Arts Institute
Dean’s Lane, Fort Charlotte
PO Box N-3122

Nassau, Bahamas

Ph: 323-8879, 468-5969
Email: sands.de@gmail.com

GENESIS ACADEMY

. Dowdeswell Street & Lover's Lane

P 0 Box SS-6285

Nassau, Bahamas

Ph: 322-3064

Email: genesisacademybahamas@yahoo.com

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PAGE 10, FRIDAY, JUNE 21, 2007 THE TRIBUNE







FRIDAY EVENING JUNE 22, 2007.
‘ 7:30 8:00 8:30 9:00 9:30 10:00 | 10:30 ©

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Enjoy Great Food, Prizes and Lots of Fun





————

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THE TRIBUNE



Healthcare
model for
proposed
NHI scheme
‘is in decay’
FROM page one

from, Canada's was the wrong
choice.

Continuing with the plan as
recommended by the Blue
Ribbon Commission (BRC)
will have far reaching detri-
mental effects on our wealth
and health, he claimed.

Canadians, according to reli-
able indicators, are not "get-
ting what they paid for," said
the economist, and neither
would the Bahamas.

Considering the high cost of
the Canadian scheme com-
pared to those in other
nations, it is notable for its
"mediocre" health services
access, outcomes, and increas-
ing waiting lists.

The economist, who said he
had "read fearfully" the
BRC's report, produced sets of
comparative data from inter-
national organisations evi-
dencing Canada's poor perfor-
mance on the global stage.

In all of its provinces,
healthcare expenditure over-
took total revenue between
1997 and 2005, and access was
greatly varied, noted Dr Walk-
er. Ultimately, unsavoury pos-
sibilities such as further reduc-
tions in access to healthcare,
worsening quality of care or
increased taxes would be the
only means of avoiding a black
hole of debt from spiraling
costs under the present system,
he said.

Despite the huge amount of
funds expended, Canada
ranked worst for the likeli-
hood of a patient being able to
see a doctor on the same or
following day.

"Actual versus reasonable"
waiting times — that is, the
amount of time Canadian's
have to wait to see a specialist,
in contrast to the amount of
time they can reasonably do so
without their health being
impinged upon, have become
increasingly disparate, he said.

It ranks 24 out of 28 interna-
tionally for access to physi-
cians, 13 out of 24 for access to
MRI, 17 out of 28 for access to
CT scans, and 18 out of a pos-
sible 20 for access to liphotrip-
tors. Considering its costliness,
indicators including infant
mortality, death from disease
and breast cancer mortality
rates leave much to be desired.

Significantly, said Dr Walk-
er, Canada holds the unique
position of being the only
OECD country with exclusive-
ly public sector funded health-
care, "effectively outlawing
parallel private healthcare."

It is the lack of this competi-
tive element, which the BRC's
report proposes to copy, that
has primarily contributed to
the failings of Canada's'sys-
tem.

The economist pointed to
the fact that the Supreme
Court of Canada recently ~~
ruled that this aspect of the
system — which bars people
from paying privately for
healthcare procedures covered
under Medicare — is in fact
unconstitutional given that the
public system has failed to
guarantee patients access to
those services in a timely man-
ner.

He expressed surprise the
BRC's report made no men-
tion of any of the numerous
studies evidencing the failings
of the Canadian system, and
questioned whether they had
reviewed the data available.

Several suggestions were
made as to what a less haz-
ardous Bahamian NHI scheme
could look like. Generally,
these involved leaving out cer-
tain problematic provisions
seen in Canada, and bringing
in elements found in less costly
European and Australian
healthcare models, including
user fees, co-payments and
parallel private healthcare.

The economist said of the
commission: "I think they just
don't realise what they're
proposing," adding that the
Bahamian public need to be
aware of the proposed model's
deficiencies.

Deteriorating policy has
plagued the Bahamas since the
1970s, said Dr Walker.

The decline in "policy quali-
ty", which the implementation
of the NHI scheme as suggest-
ed by the BRC would be
another example, is showing
up in lower average incomes
and lower growth rates.



and Tommy Turnquest (right)

LOCAL NEWS

B® PRIME MINISTER Hubert Ingraham arrives back in the Bahamas yesterday, flanked by Cabinet ministers Carl Bethel (left)

FRIDAY, Juin bane hem y uU/, PAGE 11

rel eri challenges PLP to ‘bring it o

(BIS Photo: Tim Aylen)

FROM page one

trate Bethel yesterday
accused of abetment to
Armbrister’s murder.
According to court dock-
ets, on June 12 he is
accused of aiding and
abetting in the commit-
ment of Armbrister’s mur-
der. He was not required
to enter a plea to the
charge. Both men were
represented yesterday by
lawyer Carlson Shurland
from Freeport.

Pair in court

Police reportedly
arrested both men on
Monday at an apartment
complex in Freeport.

They were also charged
yesterday with possession
of eight grams of marijua-
na. Court dockets claim
that the men were found
in possession of the drugs
on Monday, June 18, while
at Grand Bahama.

They both pleaded not
guilty to the charge. The

case was adjourned to
November 8.

Mr Shurland first made
a request to the court for
witness statements
and other relevant docu-
ments.

He then inquired
whether the murder case
could proceed by volun-
tary bill of indictment,
meaning that the case
would go directly to the
Supreme Court.

June 28 is the date which
has been set for a report

Gas price rises to $4.87 a gallon

FROM page one

price of oil from the Bahamas’ main provider.
“It would be wrong of me to stand here as the
Minister and predict the pricing of petroleum
products, because I do not know what they will
be in the foreseeable future. I price it based
upon the imported price at the time, and it is
dependent on the inventories held locally, when
relief will be seen by the Bahamian public,” he

said.

However, some relief may be in sight for the
future, as Mr Neymour explained, because once
the current inventories of Shell, Esso, and Tex-

2007

aco are exhausted, a new price will come into
effect. Whether that price is higher, or lower, is

exporters.

CALIBER

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

2.0 4Cyl. DOHC 16 V
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Power Windows and Locks

Front Air Bags
Air Conditioning
Radio/CD Player

still to be seen.

External events, such as the continued conflict
in Nigeria, Iran’s uranium enrichment pro-
gramme, and anti-American comments from
Venezuelan President Hugo Chavez continue to
worry analysts over the future prices of oil.

Yesterday, the market saw a drop in the price
of oil despite the concern over a general strike
in Nigeria that prompted concern that oil mar-
kets might see an upset or possible disruption to
supplies from one of the world’s top oil

$28,785.00

racer onsenanaeaeeg as

from the prosecution on
that matter. Both men

‘were remanded to Her

Majesty’s Prison.

uy





FROM page one -

co City, Blue Hills and Pinewood.

The party is protesting primar-
ily on the basis that large num-
bers of non-citizens may have vot-
ed, while Bahamians, who were
eligible to vote, were unfairly
barred from the polls.

Philip Davis, Damian Gomez
and Wayne Munroe head the
PLP’s legal team in the chal-
lenges.



Sentence
FROM page one

landmark ruling in March
2006 against the Bahama’s |
mandatory death penalty,
those who were previously |
sentenced to death are being |
re-sentenced. Earlier this |
week the definition of the
term “life imprisonment” as
it relates to Bahamian law
was called into question |
when lawyers representing
murder convict Forrester
Bowe who had his death-
sentence commuted last
year, appeared in the Court
of Appeal.



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A meeting was scheduled to
take place between Dr Walker
and newly appointed health
Minister, Dr Health Minnis
yesterday afternoon.





wonder how you ever got a



\





PAGE 12, FRIDAY, JUNE 22, 2007












































WATS Sci. >

Your look at what’s going on in your community

TAKING advantage of the
visit to Nassau of Rodrigo
Echenique, corporate director
of Santander and member of
the executive committee and
Jose Manuel Maceda, general
manager of Santander Private
Banking, Santander Bank and
Trust held a cultural reception
to celebrate Santander’s 150th
anniversary.

The event, held at the Nation-
al Art Gallery, was attended by
Zhivargo Laing, Minister of
State in the Ministry of Finance,
Wendy Craig, governor of the
Central Bank of the Bahamas,
Michael Foot, inspector of
banks and trust companies,
Wendy Warren, CEO and exec-
utive director of the Bahamas
Financial Services Board along
with other dignitaries, manage-
ment and staff of the bank.

The Bahamas National Youth
Choir performed a medley of
songs and received a standing
ovation.

Jose Gonzalez de Castejon,
managing director of Santander
Bank and Trust Ltd, welcomed
guests.

He then introduced Rodrigo
Echenique, director and mem-
ber of the executive committee
of Banco Santander Central
Hispano, SA, and Jose Manuel
Maceda, general manager of
Santander Private Banking.

Mr Maceda highlighted the
importance of the 150th


























summer i

em

. the,lslands, OfThe, Bahamas,

June 8th - July 29th 2007
Presents



\

rejler)
SIT COlO





Dy



@ STAFF of Santander Bank and Trust at the reception

_ anniversary of Santander and

THE TRIBUNE

Ee A eee
nassau Santander celebrates
its 150th anniversary ©



gave a brief history of the bank
and its recent performance.

As part of the celebrations,
an employee exchange pro-
gramme has been initiated
enabling an employee from
each country where the bank
has a presence will be assigned
to another location where he
will be exposed to a new cul-
ture and experience.

Mr Marc Robinson has been
selected to represent Santander
Bahamas and will spend 30 days
at the bank’s offices at San-
tander City in Madrid, Spain.

Mr Maceda said Santander has
the greatest number of branches
in the world, numbering 10,800
with over 130,000 employees.

He told local employees that,
as part of the 150th anniversary
celebrations, Santander planned
to give every employee world-
wide a gift of shares in Banco
Santander.

This gift would be ratified at
the general meeting of share-
holders in mid-June, 2007.

Mr Laing congratulated San-
tander on its anniversary, cele-
brating its presence in the coun-
try and reaffirming the govern-
ment’s commitment to the
financial services sector.

Guests and staff were then
invited to tour the Bahamas
National Art Gallery and enjoy
a cocktail party on the Gallery’s
balcony.



@ MICHAEL Foot, Inspector of Banks and Trust Companies,

and Pablo Rodriguez Muller, vice-president and legal and
compliance manager, touring the Art Gallery



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FRIDAY, JUNE 22, 2007

SECTION

business@tribunemedia.net

_The Tribune _



BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street



Brain drain ‘even more
profound’ if NHI created
* Economist warns PLP’s proposed 5.3% contribution rate would have become ‘the most significant tax you will pay in the Bahamas’

* Questions whether Bahamian economy could have supported PLP scheme, as per capita income growth and economy ‘stagnating’
== Bahamian policymaking ‘deteriorating’ and ‘going in ae wrong direction’

@ By NEIL HARTNELL
Tribune Business Editor

he former PLP
government’s pro-
posed National
Health Insurance
(NHJ plan would
have made the ‘brain drain’ of
the most talented, highly-edu-
cated Bahamians “even more
profound”, a leading healthcare

specialist warned yesterday. He-
' said the scheme’s 5.3 per cent

contribution rate would have
acted as an income tax and pro-



yesterday.

downtown Nassau.

from the new Freedom class.

per cent.

tourists and $9.338 million in
visitor spending based on



Cruise ship loss
shows need for
downtown revamp

i By CARA BRENNEN- BETHEL
Tribune Business Reporter

THE recent decision by Royal Caribbean Cruise lines to

redeploy three of its vessels to other destinations is a further
indication of the immediate need for the transformation of
downtown Nassau and Prince George’s Wharf, the Nassau _ |
Tourism and Development Board’s (NTDB) chairman said

Charles Klonaris told Tribune Business that there was no
question that much had to be done to ensure there was a
quality environment for tourists and cruise passengers in

He added that in particular, Nassau’s current port facilities
had to be expanded if the Bahamas was to attract a viable
number of cruise passengers into Nassau.

Royal Caribbean removed the Bahamas from its itinerary
because it had decided to replace the three vessels with the
larger Freedom of the.Seas and Liberty of the Seas ships

- Yet due to their greater size, these ships are unable to nav-
igate in Nassau and other Bahamian harbours,

According to the Ministry of Tourism the Voyager of the
Seas accounted for 1.4 per cent of total cruise visitors; the Nav-
igator of the Seas 2.8 per cent; and the Explorer of the Seas 1.5

The Bahamas will therefore lose 5.7 per cent of its total per |
annum cruise passenger visitors, representing some 166,756



2005 figures, when Royal | SEE as 6

vided a disincentive for the
Bahamas’ attempts to attract
human capital.

Dr Michael Walker, a fellow
of the Canada-based Fraser
Institute, and a healthcare eco-
nomics specialist, warned that
the global competition for
human and financial capital
resources was intense, and that
both these factors of produc-
tion gravitated to areas where
taxation was relatively low.

He explained that if the
Bahamas imposed too heavy a

_tax burden through the pro-








































‘Sinister’ NHI plan
would eliminate
private health care

@ By NEIL HARTNELL
Tribune Business Editor

THE “most sinister” part of |

the former PLP’s proposed
National Health Insurance
(NHI) plan was that it paved
the way for eliminating private
healthcare provision in the
Bahamas, a leading healthcare
economist warned yesterday,
describing the scheme as a
“Trojan Horse” that was based
on the “mythology” that it
could provide comprehensive,
equal healthcare for all.

In a presentation to a seminar
organised by the Nassau Insti-
tute and Atlas Economic
Research Foundation, Dr
Michael Walker, a fellow at the
Canada-based Fraser Institute,
expressed surprise that while
the former government’s NHI
scheme appeared to be based
on the Canadian healthcare
model, there were no references
to the numerous critical stud-
ies on that country’s weakness-
es in the report submitted to
the Government by its Blue
Ribbon Commission. That
report provided the foundation
for the PLP’s NHI scheme.

Dr Walker said there had
been “not one peep, not one
toddle, not one mention in the
report” by the Blue Ribbon
Commission of the deep-rooted
problems the Canadian health-
care model was now experienc-
ing.

Criticising the former admin-
istration’s promises of compre-
hensive, universal healthcare
for all as being untenable, Dr
Walker told the seminar: “You
cannot afford in the Bahamas,
Canada or anywhere else to say
that everyone will get the same
quality of healthcare that will
be universally applied, and with-

-out any limitations. You can’t

do it.”

Adding that hard choices had
to be made in regard to a coun-
try’s healthcare policies, Dr
Walker added: “The pretence
that is laid out in the Blue Rib-
bon Commisson’s report is that
we could give this universal cov-
erage to everyone. It is a
mythology.”

The Commission’s recom-
mendation that the NHI plan

SEE page 9

posed NHI scheme, in its efforts
to solve healthcare access and

funding issues through income .

redistribution, the most highly-
educated Bahamians - already
restricted by the lack of job

diversity in this nation - were |

likely to remain overseas after
graduating.

Dr Walker warned that the
PLP’s proposed NHI scheme,
which planned to split the 5.3
per cent contribution evenly
between employer and salaried
worker, meaning each paid a
sum equivalent to 2.65 per cent

of the employee’s salary, was

likely “to produce short-term
gains at the expense of long-
term losses”.

The long-term loss, he
explained, would be to under-
mine the Bahamas’ long-term
economic competitiveness and
growth, especially if contribu-
tion rates increased to meet the
increased cost of healthcare and
demand from an ageing popu-
lation.

“It will become the most sig-
nificant tax you will pay in the
Bahamas, and make it more dif-

ficult for you to attract human
capital,”. Dr Walker said.

He added that young
Bahamians did not have to
remain in this nation to seek a
living, and were “not getting the
kind of opportunities they
should get in the Bahamas”
anyway. The imposition of the
NHI’s income tax would act as a
further disincentive for them to
return home after graduating,
depriving the Bahamas of its
brightest and best.

“This kind of tax will make
that exodus even more pro-

found,” Dz Walker warned, As
a result, the Bahamas had to be
“very careful” about the policy
choices it made in regard to
healthcare, because financing
this area could end up domi-
nating budgets and public poli-
cy, especially if the contribution
rates rose.

It is unclear what the new
FNM administration’s position
is on-the former government’s
NHI scheme is, given that it has

SEE page 2

Customs urged to crack down
on Freeport bond goods ‘fraud’

@ By NEIL HARTNELL
. Tribune Business Editor

THE Grand Bahama Chamber of Com-
merce’s president yesterday urged the Cus-
toms Department to go after the small
minority of Grand Bahama Port Authority
(GBPA) licencees that abused Freeport’s
bonded goods system, rather than seek to
implement “blanket” policy changes. that
have no foundation in law and only disrupt
legitimate business.

Speaking in the wake of the Home Cen-
tre’s legal victory over the Customs Depart-
ment, which prevented the latter from
demanding that the Freeport-based retailer
and wholesaler pay $738,644 in duties up-
front on its inventory, Christopher Lowe
urged the government agency to go after
real offenders rather than arbitrarily change

and implement policies that.ran afoul of

the courts and the Hawksbill Creek Agree-
ment.

“There is fraudulent use of the bonded
system by a small minoroity of unscrupulous
licensees, there is no question,” Mr Lowe
told The Tribune. “But the Customs Man-
agement Act gives Customs the powers to
pursue fraud where fraud exists.

“They love these blanket policies and
not having to point fingers. But none of
this is provided for in law.

“They have the power to to go after fraud
and prosecute it, but to my knowledge
they’ve never prosecuted anyone for fraud
with respect to the bond.”

Mr Lowe added: “That there is fraud
occurring with the bond, and with respect to
bonded goods ending up outside Freeport in
places like Nassau, there is no question.
But the Customs Management Act pro-
vides the meat where Customs can go after
the perpetrator.”

The Customs Department suffered its
latest defeat in relation to the Hawksbill
Creek Agreement and bonded goods at the

hands of the Home Centre, a subisdiary of
BISX-listed Freeport Concrete, via the
Supreme Court verdict.

‘The company had been forced to obtain

an injunction against Customs to prevent = +
. it prohibiting or interfering with the new

Home Centre superstore’s opening, and
the display. of bonded goods (products
that are duty exempt) at ‘retail’ - the issue
at the very heart of the case.

The Customs Department objected to
this arrangement, saying that because
these bonded goods were on display at
retail and in view of the public, they could
no longer be classified as duty-exempt

’ stock. As a pre-condition for the Home

Centre opening, the Customs Department
demanded the $738,644 duty payment and
allegedly locked up some of the store’s
containers, refusing to inspect and clear

SEE page 9

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PAGE 2B, FRIDAY, JUNE 22, 2007

THE TRIBUNE



Dar eS ane

Finding the market for your e-business

hether you are

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or service, your

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your site, so that you can either
build a list capturing your visi-
tor’s name and e-mail, or better
still, getting them to purchase
a product through a back-end
or front-end offer. ,

Second, the execution will be
different. It will cover three
areas instead of the one for
bricks and mortar businesses.

The first area is the same and
concerns your Offline Activi-
ties. Use traditional means of
promoting your website offline
though advertising, public rela-
tions, direct marketing and sales
promotion. These should be
familiar to you if you have fol-
lowed my previous columns on
marketing.

The second area concerns
Traffic Building Activities.
There are many ways that you
can build quality traffic to your
website, and these are dealt

with in a future column.

The third area concerns Traf-
fic Conversion Activities. There
are many ways in which you can
convert that traffic into prof-
itable business, and these are
dealt with in a future column.

Ultimately, your marketing
plan will seek to answer three
questions:

1. Where are you now?

2. Where do you want to go?

3. How are you going to get
there?

In trying to answer those
three questions, you will need to
incorporate the following five
processes when you create your
marketing plan, if you want
your marketing plan to bé of
any use to you.

The first process is Disci-
plined Research. You will need
to research and analyse your
product or service to see what
use it is to your customers. You
will need to analyse the price
to make sure you can make a
profit on every sale. You will
need to research your market
to make sure there is enough
business for you. You will need
to research your customer to
know who they are and why
they want tg buy. And you will
need to research your promo-
tional tools to get the best bang
for your buck.

The second process is Effec-
tive Strategy. Your plan should
be strategic and should also out-
line the steps you are going to
take to execute that strategy. It

Tracking and selecting the best hedge funds

and managing alternative portfolios for our clients

has been our core business for over ten years.

SYZ & CO Bank & Trust Ltd.





% ! Business
*: Sense

#

. 3 By Mark Palmer

should mirror your company’s
strategic goals outlined in your
business plan. It should distil
what is and isn’t working, and it
should consider your compa-
ny’s capacity and resources to
meet its objectives.

The third process is Effective
Budgeting. Make sure you
apply financial figures to your
marketing plan: Otherwise it
will just be a dream.

The fourth process is Effec-
tive Benchmarking. Your plan
should ultimately be measur-
able, with benchmarks, other-
wise you won’t know whether
you have been successful or not.
Make sure you set smart tar-
gets that are capable of being
measured.

The final process is to have
Clear Timelines For Execution.
Without clear timelines, your
plan will just flounder on the
sea without a compass. Make
sure you monitor timelines.

Once you have thought
through the above exercises,
you will be ready to write down
your eMarketing Plan. Nothing
exposes a bad idea better than

. writing it down, so make sure

you do it soon. Jay Conrad
Levinson, a guerilla marketing
specialist, gives 12 tips for the
perfect eMarketing plan.

Tip 1: Show Commitment -
Commitment with a mediocre
plan will always be superior to
lack of commitment with a
superior plan.

Tip 2: Make An Investment -
See marketing as an investment,
not an expense.

Tip 3: Be Consistent - Don’t
keep changing your marketing,
the media, or your identity, as
this will make it harder for
people to trust you.

Tip 4: Inspire Confidence -
Confidence is the number one
reason why people buy.

Tip 5: Be Patient - All good
things take time to come to
fruition.

Tip 6: Use An Assortment -
Try and use a combination of
marketing tools from the wide
array at your disposal to woo
your customers.

Tip 7: Be Convenient - Time
is money, so make it easy for
customers to buy from your
business.

Tip 8: Subsequent Market-
ing — Marketing starts when
you make a sale, so encourage
your visitors to make repeat
purchases.

Tip 9: Create Amazement -
Make sure your plan highlights
all the amazing benefits that
your company offers.

Caer aaa nlc)

re lee

Ls EG

Prccraatim ated care

Bayside Executive Park | West Bay Street & Blake Road | P.0. Box N-1089 | Nassau - Bahamas
Contact: Miquel Gonzalez | Tel. +1 242 327 66 33

Member of the SYZ & CO Group: Geneva | Zurich | Lugano | Locarno | London | Luxembourg | Milan | Rome | Salzburg | Nassau | Hong Kong



Nira Val cuhtamn emer es

pei ar tay San Oe eS TCS aL

www.syzbank.ch





Guess 100 JAMZ & Ron Ricardo’s
Secret Sound & you'll win $20,000.

Tip 10: Measurement -
Unless you measure your mar-
keting efforts, you won’t know
what works and what doesn’t.

Tip 11: Involvement - Make
sure you respond quickly to
your customers.

Tip 12: Be Dependent -
Cooperate with other business-
es by building partnerships that
benefit both parties.

eMarketing is a relatively new
discipline, and there is much to
learn. Start by using a tradi-
tional marketing plan template
and expand the scope as
described above. Don’t be an
antipreneur. Make sure that you

°

+e 4

oe 6

spend sufficient time on this
area, as it will pay large divi- .
dends for your future business ,
SUCCESS, *

NB: This column is available '
as an eBook at.
www.antipreneurship.com.
Mark draws on 20 years of top -
level business, marketing and -
communications experience in ~
London and the Bahamas. He is
chief operating officer of
www.ezpzemail.com, currently '
lives in Nassau, and can be con- ,
tacted at
markalexpalmer@mac.com

© Mark Palmer. All rights
reserved

Brain drain ‘even
more profound’
if NHI created

not made a definitive state-
ment on the issue.

It is thought likely that the
FNM will move away from
the PLP’s so-called universal, comprehensive NHI plan to
focus, initially at least, on catastrophic health insurance (it was
working on this in 2001-2002 when the former Ingraham
government demitted office) and educating the public on
health and safety issues. Only when this has been accom-
plished will they look at broadening the benefits down the
line.

Yet Dr Walker yesterday questioned whether the Bahamas
was on a sound enough economic footing to support the
launch of the proposed PLP NHI scheme, pointing out that to
sustain such a scheme financiall, the economy and per capi-
ta income needed to be growing.

This, he suggested, was not the case. Dr Walker said that
between 1970-1985, average per capita income in the Bahamas
grew at arate of 1.27 per cent. Yet between 1985-2000, this
growth rate fell to an average of 0.06 per cent, indicating
that per capita income rises had become stagnant.

“This is something you should be concerned about,” Dr
Walker said. “When countries look at allocating more
resources to areas such as healthcare and education for your
population, you can’t afford it unless you have economic
growth.”

Lower economic growth and per capita income rates were
bad news for the Bahamas, Dr Walker suggested, as nations
who were relatively less wealthy also tended to start seeing
deteriorations in general health, given the correlation between
‘wealth and health spénding.

FROM page 1

Dr Walker said the Fraser Institute’s annual survey of eco-

nomic freedom, assessing 94 per cent of the world’s countries
and governments on 38 different policy measures, showed pol-
icymaking in the Bahamas had been headed “in the wrong
direction” since 1975.

In 1975, Dr Walker said, the Bahamas was ranked among
the top 20 countries in the world when it came to economic
policymaking, standing alongside the likes of the US, Cana-
da, Hong Kong, Singapore and Iceland, but ever since “pol-
icy deteriorated”.

“Mostly, it’s in the wrong direction. Policy is going in the
wrong direction, and that’s a bad [sign] for the future,” he
added.

Countries that made bad public polict decisions had lower
levels of economic growth, per capita income and human
development, higher infant mortality and lower life expectan-
cy, Dr Walker said.

“The quality of policy really matters, and really matters for
the Bahamas,” he added. Dr Walker said that in 1970, the
Bahamas ranked in the world’s top 20 when it came to real
per capita income, but today had fallen to around 30th posi-
tion.

“This is not a trend you want to feel comfortable about,” Dr
Walker said. “This is a trend that sets off alarm bells, as you
do not want to fall behind the rest of the world.”

Dr Walker said the Bahamas still ranked in the top 20 for
size of government, even though this was becoming more
uncompetitive, and was rated highly on regulation.

“Where the Bahamas has really shone is in the protection
of property rights and the rule of law. The Bahamas is an
example to other countries on how over a period of time it has
implemented the law and property rights,” Dr Walker said.

Where the Bahamas did not score well was on exchange
controls, which limited the free movement of capital, and
its high tariff and customs duties barriers on trade.

“Trade is where you get very bad marks. That’s a real
issue for your country going forward,” Dr Walker said.

Ricardo

SINCE 1859

roferw

oer.
t's MY rune







|
|





[BUSINESS

~ Che Miami Herald |

Aw

‘. advances.





THE MARKETS

STOCKS, MUTUAL FUNDS, 8B
DOW30 13,545.84 +56.42. Ad
S&P 500 1,522.19 +9.35 4%
NASDAQ 2,616.96 +17.00 4%
5 a
10-YRNOTE 5.20 +06 4d
CRUDE «= 865 wt WW

Market
upbeat
on oil,
economy
report

BY TIM PARADIS
Associated Press

NEW YORK — Stocks
lurched higher after a back-and-

forth session Thursday as inves-
tors apparently set aside some
interest rate concerns and took

a dose of upbeat economic data -

at face value.
_ The Philadelphia Federal

Reserve said regional manufac- —

turing in June has had its stron-
gest growth since April 2005.
The bank’s index of regional
manufacturing activity jumped
to 18 from 4.2 in May. But the
report had little effect on the
market although investors have
been wary about any signs of
_ economic strength that might
‘lead the Federal Reserve to
raise interest rates when its
_ Open Market Committee meets
“next week. :
Investors, looking for a rea- »

son to buy back into the market, _

briefly pushed away their rate
concerns, even though the yield*
on the benchmark 10-year Trea-_
sury rose to 5.20 percent from
5.15 late Wednesday.
Oil, which had advanced

> > amid concerns about a general
-" strike in Nigeria, Africa’s largest

crude oil producer, reversed
course Thursday. Light, sweet
crude fell 21 cents’to $68.65 per
Farrel on the New York Mer-
cantile Exchange after nearing

_ $70 early Thursday.

The Dow Jones industrial
average rose 56.42, or 0.42 per-
cent, to 13,545.84 after dropping
146 points Wednesday.

- Broader stock indicators also

-. rose. The Standard & Poor’s 500
’ index rose 9.35, or 0.62 percent,

to 1,522.19 and the Nasdaq com-
posite index advanced 17.00, or
_ 0.65 percent, to 2,616.96.

The dollar was mixed agajnst
other major currencies, while
gold prices fell.

Recent weeks have proven
relatively volatile on Wall
Street after months-long peri-
ods of generally steady

Comments this
month from Fed Chairman Ben
Bernanke and inflation con-
cerns furthered the notion that
“the central bank wasn’t likely to
cut interest rates this year as
some observers had predicted
and could possibly even raise
rates.

Also Thursday, the American
Stock Exchange resumed trad-
ing of stocks and exchange
traded funds in the afternoon
after the exchange resolved
technical problems that had
forced it to halt trading earlier
in the day.

Andersons, an ethanol and
grain producer, rose $5.10, or 13
percent, to $45.50 after the com-

. pany raised its full-year profit

forecast following a strong sec-
ond-quarter performance from
its agricultural businesses. The
company also began producing
ethanol from a second plant and
has seen better-than-expected
margins.

Advancing issues outpaced
decliners by about 9 to 7 on the
NYSE, where consolidated vol-
ume came to 3.10 billion shares,
down from 3.22 billion Wednes-
day.

The Russell 2000 index of
‘smaller companies rose 3.63, or
0.43 percent, to 839.8L

Overseas, Japan’s Nikkei
stock average closed up
0.16 percent. Britain’s FTSE 100
fell 0.80 percent, Germany’s
DAX index fell 1.55 percent, and
France’s CAC-40 lost 1.04 per-
cent.



FRIDAY, JUNE 22, 2007

SUPREME COURT

Investors dealt setback

BY PETE YOST
Associated Press

WASHINGTON — Investors who
already had lost money on their
stocks lost again at the Supreme
Court Thursday when the justices
imposed a strict standard for share-
holders suing companies accused of
fraud.

The 8-1 opinion written by Justice
Ruth Bader Ginsburg makes it easier
for companies and business execu-
tives to seek dismissal of investor
lawsuits at the very start of a case.

A lawsuit will proceed only if the

_ facts alleged in it are “cogent and

compelling” in pointing to an intent
to deceive investors, Ginsburg wrote.
Those factual allegations must be at
least as compelling as “any opposing
inference” suggesting innocence, she
added.

Plaintiffs attorneys said almost all

|
i
|
|
|
{
t



BY JOE BEL BRUNO
Associated Press : :
NEW YORK — Blackstone
Group on Thursday raised $4.13 bil-
lion in the biggest U.S. initial public
| offering in five years, a sign of the
| growing power of private equity
| firms in global finance.
The New York-based buyout
shop, which controls names like
| Universal Studios Florida and real
| estate powerhouse Equity Office
Properties Trust, will list on the
| New York Stock Exchange on Fri-
| day morning. The sale values each
| share at $31 and the entire firm at
| around $33 billion.
| For Blackstone’s founders —
| who launched the private equity
firm in 1985 with a $400,000 invest-
ment — the IPO will mean a big
| payout. Chief Executive Stephen
| Schwarzman will walk away with a
| stake in the company worth about
| $7.7 billion, putting him among the
richest of the rich on Wall Street.

“Blackstone is like any dominant
player in a maturing industry, they
are successful because they have a
great management team,” said
Peter Shabecoff, founding partner
of Stamford, Conn.-based private
equity firm Atlantic Street Capital
Management. “And now they have
the scope and brand name to be
successful, and that’s what people
are buying into.”

The big appeal of the IPO was
that it gave investors a chance to
participate in the booming private
equity industry, where firms buy
companies, turn them around, and
seek to sell them at a profit. And
investor appetite was strong to buy
a part of Blackstone, even though
the stake in its management busi-
ness has little voting power or any
direct connection to its portfolio of
companies.

cases already meet the standard the
court adopted.

And investors “can breathe a sigh
of relief’ that the justices did not
embrace a more stringent rule
favored by Justices Antonin Scalia
and Samuel Alito in a concurring
opinion, said attorney Barbara J. Hart,
who represents institutional inves-
tors in major securities fraud cases.

Class-action lawsuits against pub-
lic companies have helped sharehold-
ers recover billions of dollars follow-
ing the wave of corporate scandals.
The corporate world is pushing regu-
lators to roll back some safeguards
put in place following those scandals,
which brought down companies such
as Enron and WorldCom.

Thursday’s ruling came in a share-
holders suit against high-tech com-
pany Tellabs.

The firm misled investors by

STOCK SALE

INTERNATIONAL EDITION

engaging in a scheme to inflate Tel-
labs’ stock price from December
2000 to June 2001, according to the
lawsuit.

It said the company’s CEO pro-
vided false assurances of robust
demand for the company’s products.

The business community says the
Tellabs case is the kind of meritless
investors’ claim that Congress
intended to prohibit when it changed
securities law 12 years ago.

Under the 1995 changes, a securi-
ties fraud complaint must allege facts
giving rise to a “strong inference”
that defendants acted with an intent
to deceive investors.

The 7th U.S. Circuit Court of
Appeals had ruled against Tellabs,
saying the complaint should go for-

ward if a reasonable person could .

infer from the allegations that defen-
dants’ conduct was intentionally







PHELAN M. EBENHACK/AP FILE, 2006

| UNIVERSAL INFLUENCE: A pair of stiltwalkers dressed in ancient Egyptian costumes entertain tourists
at Universal Studios Florida theme park in Orlando, Fla., which is controlled by Blackstone Group.
Blackstone announced Thursday the price of its IPO, making it one of the largest in U.S. history.

Blackstone IPO stirs
demand, raises $4B



= ps
as
LENNY IGNELZI/ AP FILE, 2007

OWNED BY BLACKSTONE: Workers put the finishing touches ona
reproduction of the Luxor Hotel at Legoland in Carlsbad, Calif.

The strength of the sale was
despite a last-minute attempt by
two powerful members of Con-
gress to have securities regulators
block the deal.

Analysts had been monitoring
the IPO’s pricing throughout
Thursday, which was said to be
many times oversubscribed. There
was some speculation that the
interest from investors around the
globe would cause Blackstone to
raise the price beyond its original
range of $29 to $31.

However, the underwriters on
the deal might have been cautious
about the IPO amid growing scru-
tiny on Capitol Hill. The deal was
criticized for the huge payout it will
provide top executives, leading to
attempts by lawmakers to change
the tax status of Blackstone and
similar firms.

The firm acknowledged Thurs-
day that it could face much higher
taxes as early as next year if it was
taxed as a corporation, as a new bill



in the U.S. House of Representa-
tives proposes to do.

Meanwhile, Reps. Dennis Kucin-
ich of Ohio and Henry Waxman of
California asked the Securities and
Exchange Commission late Thurs-
day to delay the offering, though
their requests apparently went
unanswered.

Blackstone reaffirmed in a regu-
latory filing Thursday that taxing
the firm as a financial company at a
35 percent rate would cause its
earnings to falter. The buyout shop,
like other partnerships, is taxed at a,
15 percent rate.

That came on top of a previous
warning from Blackstone that com-
pensation and other costs related to
going public would cause it to not
be profitable for years.

But, analysts contend investing
in the IPO has more to do with buy-
ing into Blackstone’s cache — espe-
cially as rivals like Kohlberg Kravis
Roberts & Co. and.Carlyle Group
are considering flotations.

in fraud cases

deceptive.

The justices sent the case back so
that the lower courts can assess
whether the lawsuit should stand.

The way the court of appeals ruled
in the Tellabs case “is the way law-
yers have been looking at complaints
for 50 years, and that’s to give all
plausible inferences to the plaintiff
and virtually never to dismiss a com-
plaint,” said Washington attorney
Carter Phillips. ,

“What the Supreme Court has
done now is made it clear that most
securities claims ought not withstand
a motion to dismiss,” said Phillips,
who represented Tellabs in the
Supreme Court case.

That view is “ridiculous,”
responded Hart, the plaintiffs attor-
ney. “The defense bar is totally over-
stating the ramifications of this deci-
sion,” said Hart.

GERMANY

WTO
trade
talks fail

again.

BY BRADLEY S. KLAPPER
Associated Press

POTSDAM, Germany — A crucial
meeting of the World Trade Organi-
zation’s four most powerful members
has failed, officials said Thursday,
dealing a major setback to efforts at

reaching, a.new global commerce...

Dae Se ND aia mains eer eee
“~“Ttwas useless to continue the dis-"»

cussions based on the numbers that »."..’°

were on the table,” Brazilian Foreign
Minister Celso Amorim said after the
talks ended two days ahead of sched-
ule.

Brazil and India criticized the
United States for its failure to offer
deep enough cuts in the billions of
dollars of subsidies it pays annually
to U.S. farmers.

The European Union and the
United States said the two emerging
economic powers refused to offer
new market opportunities for manu-
facturing exports. Brussels and

Washington added, however, that

they were pleased with each other for
showing flexibility.

“Trade agreements should gener-
ate new trade and lift people out of
poverty,” U.S. Trade Representative
Susan Schwab said. “Unfortunately,
what we have here today was not
going to generate new trade.”

The White House said President
Bush was disappointed that an oppor-
tunity to expand trade had been
blocked.

“Large economies like Brazil and
India should not stand in the way of
progress for smaller, poor developing
nations,” deputy press secretary
Tony Fratto said.

The global talks known as the
Doha round aim to add billions of
dollars to the world economy and
help poorer countries developing
their economies through new trade
flows. But negotiations have strug-
gled since their inception six years
ago in Qatar’s capital, largely because
of wrangling between rich and poor
countries over eliminating barriers to
agricultural trade. ‘

EU Trade Commissioner Peter
Mandelson said the failure of the
talks in Potsdam, “places a very
major question mark over the ability
of the wider membership of the
WTO to complete this round.”

Indian Trade Minister Kamal Nath
blamed U.S. unwillingness to cut its
farm subsidies as the reason for the
collapse of the talks.

“There is no equity in this. There
is no logic. There is no fairness,” he
said.

U.S. Agriculture Secretary Mike
Johanns said the U.S. had offered
“real cuts” that would force Wash-
ington to make changes in its farm
policy.

Offers by India and Brazil, he said,
were “so far away, so lacking in any
market access, it just literally cast a
chill over all the discussions all
week.”

“T could have done cartwheels off
the roof of this building, and I’m not
sure I would have gotten any
response whatsoever,” Johanns
added.

ae ee





THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e JAPAN



NG HAN GUAN/AP FILE

PROMISE MAKER: Sony Chairman Howard Stringer, right,
poses with Chinese students during an event held in
Beijing on Oct. 30. Stringer promised Thursday to
shift the struggling electronics giant. from recovery to

growth.

Chairman promises
change of fortunes

From Herald Wire Services

TOKYO '— Sony (SNE) Chairman Howard Stringer
promised Thursday to shift the struggling electronics giant
from recovery to growth and to make the PlayStation 3 a
profit driver despite its bungled rollout.

But investors at the company’s annual shareholder meet-
ing in Tokyo remained skeptical of an imminent turnaround,
pressing Stringer for a clear'strategy on how he intended to
recoup losses at its video games unit and catch up to rivals

like Apple (AAPL) in portable music players.

“We will shift Sony from recovery to profitable growth,”
Stringer told about 7,000 shareholders gathered in Tokyo,
saying Sony’s integrated and global approach to electronics,
games and entertainment made it a “dominant company” in

the digital age.

Pressed by shareholders at the meeting, Stringer said that
Sony — maker of the iconic Walkman — would not repeat its
blunders in ceding dominance in the portable music player

market to Apple’s iPod.

e GENERAL ELECTRIC

GE ABANDONS BID TO
BUY FINANCIAL TIMES

NEW YORK — General ,

Electric (GE) said Thurs- -
day it has abandoned talks
with Financial Times pub-
lisher Pearson about.a pos-
sible bid for Dow Jones &
Co. (DJ), removing a poten-
tial rival to a $5 billion offer
from Rupert Murdoch’s
News Corp.

GE said it held “explor-
atory discussions” with Lon-
don-based Pearson about
combining GE’s CNBC busi-
ness news cable channel,
Pearson’s Financial Times
newspaper and Dow Jones,
which publishes The Wall
Street Journal, Barron’s and
Dow Jones Newswires, but
decided not to proceed.

Murdoch has offered $60
ashare for Dow Jones, a rich
premium of about 65 per-
cent over the levels that

__ Dow Jones shares had been
trading prior to the offer
becoming public in early
May. Many on Wall Street
believe the price is too high
to be matched.

e FRANCE

AIR SHOW SWELLS
AIRBUS ORDER BOOK

PARIS — A raft of orders
at the Paris Air Show this
week has boosted Airbus’
fortunes and handed the
European planemaker back
the lead in overall airplane
sales bookings for 2007 from
rival Boeing (BA) — at
least so far.

Airbus landed dozens of
new orders Thursday from
Asia and Latin America for
its narrow-bodied A320 and
its A330 models, following a
string of other deals
unveiled at the industry’s
premier gathering at Le
Bourget.

Thursday’s sales brought
Airbus to at least 600 firm
orders for the year so far,
including some 400 firm
orders this week.

Boeing has booked a total
of 510 firm orders during
2007, according to an update
on the company’s Web site
Thursday.

» demand in Europe and Asia.

e GERMANY

VW CAR SALES
RISE 7.6 PERCENT

FRANKFURT — Volks-
wagen, Europe’s biggest
automaker by sales, said
Thursday that its new car
sales rose 7.6 percent in the -
first five months of the year
to 2.5 million amid rising

The Wolfsburg-based
company said sales of its
VW-branded cars rose 7.1
percent to 1.5 million in the
January-May period versus
a year ago, while commer-
cial vehicle sales rose 9 per-
cent to 191,000.

e H&R BLOCK

MORTGAGE UNIT
SUFFERS LOSSES

KANSAS CITY, Mo. —
Trouble in H&R Block’s
(HRB) subprime lending
unit led the company Thurs-
day to report fourth-quarter
and full-year losses.

For the three months
ended April 30, the Kansas
City-based company said it
lost $85.5 million, or 26 cents
per share, compared with
earnings of $587.5 million, or
$1.79, a year earlier.

For the year, the com- |
pany said it lost $433.6 mil-
lion, or $1.34 per share, com-
pared with earnings of
$490.4 million, or $1.49 per
share, during the previous
year.

e ITALY

ALITALIA HAS BID
DEADLINE EXTENDED

ROME — The Italian
government announced
Thursday that it has
extended by 10 days the
deadline for final bids to
acquire a controlling stake
in Alitalia, exposing a diffi-
cult bidding period for the
struggling airline.

The government, which
is seeking a private investor
to buy at least a 39.9 percent
stake in Alitalia but is pre- ,
pared to sell its entire 49.9
percent stake, set anew
deadline of July 12.

It did not give a reason in
the statement.



LATE TRADING

6:35 p.m.

Stock Tkr. close

4 ig 6:35 p.m. Late
close

volume

Stock

Tkr.

wee

close

Late
Chg. volume



Kraft KFT
TimeWarn TWX
GenElec GE
CVSCare CVS
SPDR SPY
Altria s MO
iShR2K nya IWM
eBay
Pfizer PFE
Cisco 27.32
PwShs QQQ QQQQ 47.74
UAL UAUA 39.35
US Bancrp USB 33.80

36.74
21.51
38.80
37.12
151.98
68.58
83.49
31.13
25.92

36.74
21.51
38.80
37.12
151.87
68.58
83.50
31.13
25.96
27.32
47.12
39.38
33,80

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-11
+.01
+.04

-.02
+.03

240040
96901
76020
70310
66225
55605
46138
45226
41008
39893
30606
25374
25284

FordM
Citzcomm
Microsoft
Staples
BlockHR
PeabdyE
FMCG ,
Medtrnic
CMGI
Intel
Sycmstr
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F
CZN
MSFT
SPLS
HRB
BIU
FCX
MOT
CMGI
INTC
SVM
EMC

8.91

15.26
30.22
24.97
22.04
49.58
83.30
51.79
1.94

24.29
15.50
17.99

8.95

15.23
30.24
24.86
22.04
49.58
83.30
51.79
1.95

24.43
15.50
17.99

+.04
.03

+.02

-11

+01
+14

25261
24547
21028
19224
16200
16046
14112
13928
13841
13266
12680
12333



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



EUROPEAN UNION

Cyprus, Malta receive OK to use euro,

BY AOIFE WHITE
Associated Press

BRUSSELS, Belgium —
European Union leaders gave
Cyprus and Malta the go-
ahead Thursday to join the
euro currency zone in January.

Final approval will come
from EU finance ministers on
July 10, bringing the number of
countries using the currency
to 15.

Cyprus and Malta will bring
just over 1 million people to
the 318 million who now use
the euro. Their economies
account for only 0.2 percent of
eurozone GDP.

One area of concern over
Cyprus was what might hap-
pen if the Greek Cypriot part
of the island reunites with the
breakaway northern Turkish
Cypriot republic.

EU officials insist that let-
ting Cyprus into the euro zone
is purely an economic issue.
Formal documents barely
mention northern Cyprus
beyond a minor reference in a
European Central Bank report
that predicts subsiantial costs
to develop the Turkish Cyp-
riot: part after the island is
reunified.

As things stand, only the
Greek Cypriot state is recog-

ECONOMY

Group foresees modest growth |

BY CANDICE CHOI
Associated Press

NEW YORK — The USS.
economy should expand mod-
estly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed on
Thursday.

The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 percent in May,
boosted by rising stock prices,
higher consumer expectations

and the availability of jobs. ~~

Economists: said that jobs

should continue to be plenti-,

ful, despite an unexpected
surge in jobless claims last
week. ‘

The Labor Department
reported Thursday that unem-
ployment claims totaled
324,000 last week, up 10,000
from the previous week, to the
highest level since mid-April.

While the big increase was
unexpected, analysts said it
did not change their view that
the labor market remains
hardy. Even with the increase,
analysts noted claims remain
close to their average —
319,000 — over the first 5 ',
months of the year.

While the overall U.S. econ-
omy grew at a lackluster
0.6 percent in the first three
months of this year, many ana-
lysts believe the pace has
picked up significantly in the
spring.

The Conference Board’s
upbeat report shows that the
impact of the housing slump
has been fairly contained so
far, said Patrick Newport, an
economist with Global Insight.

“It just hasn’t spilled over
to the rest of the economy,” he
said.

It also indicates the econ-
omy is doing better than last
month’s leading indicators
report suggested, Newport
said.

May’s increase reversed a

v

EUROPE



INTERNATIONAL EDITION

a
GERARD CERLES/AFP-GETTY IMAGES

IN BRUSSELS: Cyprus’ President Tassos Papadopoulos
gives a press conference at a European summit.

nized by the European Union
and will adopt the euro, leav-
ing the Turkish lira as the cur-
rency in the northern part of
the island.

EU Economic and Mone-
tary Affairs Commissioner
Joaquin Almunia has warned
the Turkish Cypriots against
using the euro despite not
being part of the euro zone —
as non-EU members Montene-
gro and Andorra do.

Cypriot President Tassos
Papadopoulos said the island’s
two economies had diverged
significantly since his country
joined the EU in May 2004. He
praised the sacrifices his peo-
ple have made to bring
Cyprus’ budget deficit, public
deficit and inflation under EU
limits, particularly unions that
accepted a two-year pay
freeze.

“How can you have one



__ FRIDAY, JUNE 22, 2007 | 4B

state without one unified”.
economy?” he said. “For three

years now, we have been fol-

lowing an austerity budget the

other side would be free to,-.
borrow.” ae

Papadopoulos said he
expected prices to be rounded
downward, saying that the
Cypriot pound was currently
at a high level against the euro.
Supermarkets had already
agreed to cut prices by at least
1 percent and others busi-
nesses should follow suit, he
said.

Cyprus joined the EU in
2004, a month after Greek
Cypriots voted against a
United Nations plan that
would have led to reunifica-
tion. Turkish Cypriots voted
in favor of the plan.

Larger EU newcomers —

Poland, Hungary, the Czech .°

Republic, Romania and Bul-.’

garia — have yet to set a date
for their entry into the euro
zone.

Estonia had originally -
planned to join next year but is *
likely to delay that as its grow-
ing economy sees inflation
surge, a problem that has also
slowed Latvian and Lithuanian .

plans. Slovakia is scheduled to . °

join in 2009.



DAVID ZALUE .Â¥ 'SKI/AP

GROWTH POSSIBLE: A recent report suggests the U.S. economy will experience moaast. ~.
growth in the coming months, a possible sign that consumers are shrugging off th>. -!--
weak housing market. Above, a potential buyer looks over a row of BMWs in Denver. >. |

revised 0.3 percent drop in
April, down from the original
0.5 percent decline that econo-
mists blamed on soaring gas

has gone up 0.3 percent.

Wall Street is fairly confi-
dent that falling home prices
and rising mortgage defaults

has raised worries about rising
inflation, however.

On Tuesday, the Com-.'
merce Department said con--.

prices-and a drop in building—won’t damage the—broader— struction of new homes fell in—

permits.

The report, designed to
forecast economic activity
over the next three to six
months, tracks 10 economic
indicators.

The advancing contributors
in May, starting with the larg-
est, were weekly unemploy-
ment insurance claims, stock
prices, building permits, con-
sumer expectations and ven-
dor performance.

The negative contributors,
beginning with the largest,
were real money supply, aver-
age weekly manufacturing
hours and interest rate spread.

With the latest report, the
cumulative change in the
index over the past six months

economy. Treasury Secretary
Henry Paulson said Wednes-
day the housing slump is near-
ing an end, and that the losses
so far have been contained.

But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refi-
nance. If that happens, the res-
idential real estate market’s
troubles could snowball and
dampen consumer spending.

The Federal Reserve’s
Open Market Committee,
which sets short-term interest
rates, meets next week and is
widely expected to leave rates
unchanged as they have been
for about a year.

A pickup in the economy

May as the nation’s home
builders were battered by the
crisis in subprime lending and
rising mortgage rates. Industry
sentiment about the housing
market fell in June to the low-
est point in more than 16 years.

Secondary effects from the
housing downturn like layoffs
and restrained. consumer
spending could also start sur-
facing, said Aaron Smith, an
economist with Moody’s
Economy.com. But the overall
drag on the economy from the
housing industry should
decline in coming months, he
said.

“Building permits cannot.
continue declining at the pace
they have,” Smith said.

EU widens probe to all search engines

BY AOIFE WHITE
Associated Press

BRUSSELS, Belgium — A
European Union probe trig-
gered by concerns over how
long Google stores user infor-
mation has widened to include
all of the Internet search
engines.

The EU’s panel of national
data protection officers said
it’s now concerned over the
retention of data that the com-
panies use to deliver more rel-
evant search results and
advertising. Some fear the data
could be targeted by hackers
and governments.

“The Working Party will
deal with search engines in
general and scrutinize their
activities from a data-protec-
tion point of view, because

The EU's panel of national data protection
officers said it’s now concerned over the
retention of data that the companies use to
deliver more relevant search results and

advertising.

this issue affects an ever-
growing number of users,” it
said in a statement released on
Thursday.

Trying to soothe EU con-
cerns, Google this month
offered to cut the time it
retains data on user searches
from the current 24 months to
18 months, saying this was
going further than most other
search engines. After that,
identifying information is
removed.

It insists that its retention
policies comply with EU data
privacy rules.

The 28-member panel,
which advises the European
Commission and EU govern-
ments on data protection
issues, said it still needed to
analyze Google’s response and
would also look at other
search engines in the coming
weeks to evaluate what data
protection issues were at
stake.

It also has asked Google to, ‘ .

answer questions on the spe-. ~
cific use of technologies used
by Google and other websites
to collect insights about what
sites people visit.

The EU investigation into
Google comes amid growing
concerns over the Mountain. ‘
View, Calif.-based company’s’
privacy practices.

London-based Privacy
International has rated Google
the worst among the Internet’s
top destinations on privacy.

The watchdog said it was
particularly troubled by Goo-
gle’s ability to match data
gathered by its search engine
with information collected

from other services such as. °.
e-mail, instant messaging and -

maps.

RRB SRST a a



ya



crise

THE TRIBUNE



Major
law firm
to open

Abaco

office

HIGGS & Johnson, the
Bahamian law firm, will
open its third satellite office
in the Family Islands on
Monday, June 25, when it
opens its doors in Abaco.

The office, which will be
Higgs & Johnson’s fourth,
will provide a wide range of
services, and focus on Aba-
co’s independent wealth
management ' niche,
increased real estate and
mortgage financing demand,
trusts, estate planning and
litigation.

John Delaney, Higgs &
Johnson’s managing partner,

said in a statement: “For.

many years we have been
building and strengthening
our business relationships on
the island, and are excited
by the opportunities pre-
sented by the growing appeal
of Abaco. Establishing a per-
manent presence here is the
latest stage in our strategy
to expand our network of

“services throughout the

Bahamas.”

Bahamians
urged to seek
alternative
finance plans

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

ahamians were yes-
terday urged to look
to aiternative
sources of funding
for investments, and seek out
new entrepreneurial opportu-
nities to create wealth through
industries such as tourism.

James Shikwati, founder and
director of the Inter Region
Economic Network (IREN)
Nairobi, a guest speakers at a
one-day conference hosted by
the Nassau Institute, told 77ri-
bune Busines, that Bahamian
entrepreneurs should not be
held back simply because they
feel there is no money available
to finance them.

“One of the philosophies |
have is that the human mind is
capital, not money, because you
can have millions of dollars, but
if you do not have the idea then
you don’t need the money,” Mr
Shikwati said. “So the first place
where you need to invest heav-
ily is in getting the right idea.
If you have the right idea, |
believe strongly the money will
follow.”

Mr Shikwati said future
entrepreneurs need to look
beyond traditional methods of
funding for their ventures. He
added that in his country, rather
than go to financial institutions,
many young people engage
their peers and create invest-
ment funds. This has had such

success that Kenya’s banks are
doing much less business and
aggressively soliciting clients.

“This can grow money into.a
good idea. First of all thinking,
rational thinking, is important,
emotions aside,” Mr Shikwati
added

He said that business ideas
had to be thoroughly thought
out to determine their feasibili-
ty and practicality.

Mr Shikwati added that
Bahamians need to ask them-
selves: “Hhow can we better
our situation, because the Gov-
ernment may be acting out of
emotion. Maybe there are thou-
sands of Bahamas who are lob-
bying the Government, and if
you look at things from a ratio-
nal perspective, you might get
more jobs if they allowed more
competition and people com-
ing in to get new ideas and cre-
ate new business ideas.”

He noted that while the
Bahamas waqs_ primarily
tourism-dependent, people
needed to look at spin-offs from
the industry to create new busi-
ness. “People come for the
beaches, and so maybe some-
one could say: ‘Why can’t we
create music as part of our
tourism sector, so people can
say why don’t we go to the
Bahamas for the music,” Mr
Shikwati said.

“You can think about that
and how you want to create
your own unique product,
which can make people come
specifically for that product. I
am a firm believer in good



ideas.”

Mr Shikwati is an African
economist and commentator on
policy. During his presentation,

‘he explained that citizens in any

country have to turn problems
into opportunities, and oppor-
tunities into wealth, which is the
only way a country can advance.

“If you are hungry, it is you
who is hungry and need food,
not the country. To them, you
may be just astatistic, if you are
sick then it is you who is sick,”
he said, explaining that some-
times business has to be the dri-
ving force behind technology
and infrastructure.

Often, Mr Shikwati said that
what is initially perceived to be
a problem can be something
turned into a financially benefi-
cial and nation-building solu-
tion. For instance, he said in
Africa, there was a huge malar-
ia problem. He said that rather
than waiting for the government
to address the problem, there
are many opportunities for
entrepreneurs to create fumi-
gation businesses, which not
only helps mitigate the prob-
lem, but create jobs.

“If you have 10 billion mos-
quitos and you can find a way to
put a price on killing a billion of
them, then think of the eco-
nomic possibilities,” Mr Shik-
wati said.

IREN is a non-profit, inde-
pendent public policy research
and educational organisation
which promotes free trade as

the. solution to poverty in|

Africa.









June, 2007.

ZONES.

MINISTRY OF WORKS & TRANSPORT

KNOWLES CONSTRUCTION AND DEVELOPMENT

MILO bu ik nuiGHWAY -_
EXTENSION TO CARMICHAEL ROAD
IMPROVEMENT PROJECT

IMPORTANT PUBLIC SERVICE
ANNOUNCEMENT

The Ministry of Works & Transport and Knowles
Construction & Development Company Ltd wish to
inform the public that the road improvement works on
Milo Butler Highway from Tonique Williams-Darling
Highway to Carmichael Road will commence on 2 25

The Public is advised to observe the construction signs
pointing out the temporary traffic management.
Please drive with care and caution in the construction

We apologise for any inconvenience whilst we endeavour
to improve the road network in New Providence,

FRIDAY, JUNE 22, 2007, PAGE 5B













































ee
Sacred Priesthood of the
Venerable Archdeacon

The Parish Chueh St:
Lyford Cay, New Provi

Sunday, 24th J

TSE MEH

will be closed on
FRIDAY, 22"! JUNE, 2007
due to the observance

oy wet firm’s annual
ml i. DAY”

We regret any

inconvenience caused

&

COMPANY LTD.









PAGE 6B, FRIDAY, JUNE 22, 2007

THE TRIBUNE

See OE eee

Innovation hit by
court ‘throughput’

Legal Notice

NOTICE

ASMA COMPANY LTD.

NOTICE IS HEREBY GIVEN as follows:

(a) ASMA COMPANY LTD. 1s in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the
21st June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Verduro

Associated Ltd., Pasea Estate, Road Town, Tortola,
B.V.I.

Dated this 22nd day of June, A.D. 2007

Verduro Associated Ltd.
Liquidator

Legal Notice

NOTICE

RAKAN INTERNATIONAL.
COMPANY LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) RAKAN INTERNATIONAL COMPANY LIMITED
is in voluntary dissolution under the provisions of
Section 137 (4) of the International Business
Companies Act 2000.

(b) The dissolution of the said company commenced on the
20th June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said company 1s Verduro

Associated Ltd., Pasea Estate, Road Town, Tortola,
B.V.L

Dated this 22nd day of June, A.D. 2007

.

Verduro Associated Ltd.
Liquidator

Please be advised that the
following offices will be closed
on Friday, June 22, 2007 and

will re-open on Monday, June 25
2007 at the usual business hours.



Bahamas First General Insurance
Company Limited

Nassau Underwriters Agency Ltd
Moseley Burnside Insurance Agency Ltd.

Legal Notice

NOTICE

OLDFIELD MANAGEMENT LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on

the. 19th day of June 2007. The Liquidator is Argosa |
Corp. Inc., PRO.Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

CASLON S.A.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 19th day of June 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



@ By NEIL HARTNELL
Tribune Business Editor

he relatively slow
“throughput” of cas-
es through the
Bahamian court sys-
tem acts as a major barrier to
developing an innovative eco-
nomic environment in this
nation, a leading consultant said
yesterday, as he urged the coun-
try to focus on ‘reverse plan-
ning’ whereby it sought out
higher-paying customers first
before exploiting its.natural
assets.
Michael Fairbanks, founder

. of the Boston-based OFT (On

the Frontier) Group, a strate-
gy consulting firm, told a con-
ference organised by the Nassau
Institute that long-term the
Bahamian tourism industry
could not just compete on its
natural assets of sun, sand and
sea.

He added that the Bahamas
was “over dependent” on its
natural advantages, which
included proximity to the US,
and its competitive position in
tourism was being eroded



NOTICE

because the sun, sand and sea
qualities were enjoyed by
numerous other nations.

“Assets are important, but
you can’t let assets dictate your
strategy because that’s what
everyone else is doing,” Mr
Fairbanks said. ,

When countries and compa-
nies enjoyed the same compet-
itive positioning as everyone
else, they inevitably ended up
competing on price, he
explained. To remain price
competitive, countries, compa-
nies and industries inevitably
sought to cut costs, chiefly wage
bills, which had wide social and
economic ramifications and led
to societies becoming poorer
even though they might export
more, as had happened with
Jamaica’s bauxite industry.

Rather than focus on asset
exploitation in the first instance,
Mr Fairbanks suggested that the
Bahamas and its businesses first
identify high-paying, wealthy
customers who were prepared
to pay a high price for the ser-
vices or goods this nation would
sell.

The next step was to con-















NOTICE is hereby given that ANNE-MARIE ZORINA
BRAITHWAITE OF #7 EISENHOWER CLOSE, WINTON
HEIGHTS, P.O. BOX EE-16969, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
22ND day of JUNE, 2007 to the Minister responsible for
Nationality and Citizenship, PRO.Box N-7147, Nassau, Bahamas.

struct the operations that would
provide these services or goods,
with the final step being to
exploit the Bahamas’ natural
assets.

The Bahamas had to look at
“the next thing”, as having been
the first Caribbean nation to
push into tourism and financial
services some 60 years ago, oth-
er countries were now adopt-
ing and emulating the same
ideas.

“This country can go down-
hill if it does not make informed
strategies and make timely deci-
sions to boost its competitive-
ness,” Mr Fairbanks said.

He added that the major role
the Government played in the
Bahamas, as master economic
strategist and owner of signifi-
cant utilities and infrastructure,
was “the big problem in the
Bahamas”.

Mr Fairbanks said the Gov-
ernment had a “partial role, but
significant role” to play in cre-
ating a platform from which
Bahamian companies could be
competitive, but it must not
interfere with competition and
adopt protectionist measures.

He identified a major prob-
lem in the Bahamas as being
the speed with which the courts
dealt with legal cases, joking:
“You start a case now, and
maybe your grandchildren
would finish it.”

“If there’s one thing that pro-
motes an innovativ environ-
ment, it’s the rule of law,” Mr
Fairbanks said. “If you don’t
have that, you’re not going to
innovate your way out of any-
thing.”

Protection of tangible and
intangible property rights, and
dealing with legal cases speedi-
ly and fairly, were key, Mr Fair-
banks said.

He added that in one year,
30,000 international patents
were granted to companies in
California, some 3,000 to IBM
alone, yet Brazil, the seventh
or eighth largest economy in the
world and equivalent to Cali-
fornia’s in size; just granted 93.

This, Mr Fairbanks said, was
because the Brazilian court sys-
tem was not giving enough pro-
tection to patents, so no com-
panies. wee going public with .
their ideas.

Cruise ship loss shows need for downtown revamp

FROM page 1

Caribbean Cruise Lines rede-
ploys three of its vessels to oth-
er destinations.

Obviously, said Mr Klonaris,
this will be a loss that will be
felt, which was why it was vital
that there be in place a quality
product that will keep visitors
coming to the Bahamas.

He added that he felt that
once a newly-improved port
was in place, it would be impor-
tant that there be activities and
experiences to sustain large
numbers of passengers coming

off these “mega ships”, which
in some cases are carrying
2,000-3,000 people. ;

Therefore, if several ships
came in at once, downtown
Nassau could be flooded with
visitors.

Mr Klonaris said he did not
think that this would be a prob-
lem, but added that other chal-
lenges included keeping the city
safe, clean and crime free.

He said the NTDB was work-
ing with the new administration,
and Prime Minister Ingraham
was on board with the down-
town redevelopment.






LARGE PLOTS |
LOW DOWN PAYMENTS
FINANCING BY OWNER

393-4476/359-0904



LEGAL NOTICE

- NOTICE
MIXA INVESTMENT FUND LTD.

IN VOLUNTARY LIQUIDATION




NOTICE is hereby. given that WILFRED JEAN-PIERRE OF
CABLE BEACH, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization. should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 22ND day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, PO.Box N-7147, Nassau,
Bahamas.

NOTICE |

NOTICE is hereby given that GREGORY CHRISTOPHER
NEIL of #84 PORT NEW PROVIDENCE, 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 15th day of
June, 2007 to the Minister responsible for Nationality



Notice is hereby given that in accordance with Section 137 of the
International Business Companies Act 2000 MIXA INVESTMENT
FUND LTD. is in dissolution..

The date of the Commencement of dissolution was 4th June 2007. David
Thain of Arner Bank & Trust (Bahamas) Ltd., Building 2 Caves Village,
P.O. Box N 3917 is the Liquidator of MIXA INVESTMENT FUND
LTD. All persons having claims against the above-named company are
required to send their address and particulars of their debts to the Liquidator
before the 16th July 2007.



PUBLIC NOTICE

SWIC ETIE Kee NY
of Anti-aging Medicine



all non a seminar on
Sunday, June 24th in the Conference
Room at Doctors Hospital.

DOD DEV NAM KOUTA emo elite: OMICS
Director of the MOH project,
‘Healthy Lifestyle Changes to prevent,
MMe UNO ry ae

All physicians, Health Care Professionals,
BAAM Members and interested persons of the
General Public are invited.



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

MARLEY
Resort @ Sta

Cable Beach, Nassau Bahamas

The Bahamas’ most exclusive Resort and Spa
anticipates its opening in early fall, 2007.

The resort is looking for a qualified candidate to join its
team to fill the position of:

FINANCE MANAGER

The successful candidate should hold at least a Bachelors
Degree or equivalent in Finance or Accounting with at
least three years experience in Hospitality Accounting and
Finance. The candidate should have excellent knowledge
of computer accounting systems, particularly QuickBooks
software. Duties of the position include overseeing all
financial controls of the resort including cost controls,

reconciliation and payroll.

All applications are appreciated but only qualified
individuals will be considered. Please send your application
to admin@marleyresort.com, with “Reference — Finance
Manager” or you may fax it to (242) 702-2822 no later than
June 29", 2007





THE TRIBUNE



By CANDICE CHOI
AP Business Writer



NEW YORK — The United
States economy should expand
modestly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed yesterday.

The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 per cent in May,
boosted by rising stock prices,
higher consumer expectations
and the availability of jobs.

Economists said that jobs
should continue to be plentiful,
despite an unexpected surge in
jobless claims last week.

The Labour Department
reported Thursday that unem-
ployment claims totaled 324,000
last week, up 10,000 from the
previous week, to the highest
level since mid-April.

While the big increase was
unexpected, analysts said it did
not change their view that the
labour market remains hardy.
Even with the increase, analysts
noted claims remain close to
their average — 319,000 — over
the first five and-a-half months
of the year.

While the overall US econo-
my grew at a lackluster 0.6 per
cent in the first three months
of this year, many analysts.
believe the pace has picked up
significantly in the spring.

The Conference Board’s
upbeat report shows that the
impact of the housing slump has
been fairly contained so far, said
Patrick Newport, an economist
with Global Insight.

“It just hasn’t spilled over to

. the rest of the economy,” he
said. It also indicates the econ-
omy is doing better than last
month’s leading indicators
report suggested, Newport said.

May’s increase reversed a_
revised 0.3 per cent drop in’

April, down from the original *

0.5 per cent decline that econo-
mists blamed on soaring gas
-prices and a drop in building
permits.

The report, designed to fore-
cast economic activity over the
next three to six months, tracks
10 economic indicators.

The advancing contributors

os iB





le sean

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This strikingly handsome compact SUV
offers superb value for money.

The Captiva features advanced safety
features like an electronic stability
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The Captiva incorporates advanced
functions like hydraulic brake assist, hill

in May, starting with the largest,
were weekly unemployment
insurance claims, stock prices,
building permits, consumer
expectations and vendor per-
formance.

The negative contributors,
beginning with the largest, were
real money supply, average
weekly manufacturing hours
and interest rate spread.

With the latest report, the
cumulative change in the index
over the past six months has
gone up 0.3 per cent.

Wall Street is fairly confident
that falling home prices and ris-
ing mortgage defaults won't
damage the broader economy.
Treasury Secretary Henry Paul-
son said Wednesday the hous-
ing slump is nearing an end and
that the losses so far have been
contained.

But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refinance.
If that happens, the residential
real estate market’s troubles

FRIDAY, JUNE 22, 2007, PAGE 7B





BUSINESS



could snowball and dampen
consumer spending.

The Federal Reserve’s Open
Market Committee, which sets
short-term interest rates, meets
next week and is widely expect-
ed to leave rates unchanged as
they have been for about a year.

A pickup in the economy has
raised worries about rising infla-
tion, however.

Stocks slipped on Thursday,
after the Philadelphia Federal
Reserve’s report on manufac-
turing activity in its region
jumped a stronger-than-expect-
ed 18 in June, up from 4.2 in
May. zi

On Tuesday, the Commerce

Department said construction
of new homes fell in May as‘the

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Phone 324-6441 or
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The Captiva—Chevrolet’s first
all-new compact sport utility.

and handling characteristics in all driving
conditions. The cabin seats five, and all
seats, including the front passenger seat,
can be folded flat.

Here's what one automotive web site
had to say about the new Chevy Capitva:

The new SUV with style and versatility.

CHEVROLET CAPTIVA



descent control, active- rollover
protection, fading brake support and
trailer stabilization assist.

Strong, sophisticated and sporty,
Captiva is designed for optimum ride

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feel, comfortable on bad roads,
well-equipped...gets a four-star
rating because it's such goad value."





2, On-the-spot financing and insurance.
oh 24-month/24,000-mile factory warranty.

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NASSAU MOTOR CO LTD
Me

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FREE:





@ AN unidentified buyer looks over the sticker
price on an unsold 2007 Z4 coupe in a long row of
the sports cars outside a BMW dealership in Denver
earlier this month.

(AP Photo: David Zalubowski)

Summit Insurance Co. Ltd.
3 invites applications for the post of

FINANCIAL CONTROLLER

Duties include but not limited to:

e Supervision of the Accounts Department

e Preparation of management accounts and salaries
e Preparation of annual statements for audit

¢ Liaising with auditors and other external partners

Requirements:

e Must be Computer literate

e Experience of general insurance and reinsurance
treaty accounting an advantage

e CPA or similar qualifications preferred

¢ Good analytical and communication skills

nation’s homebuilders were bat-
tered by the crisis in subprime
lending and rising mortgage
rates. Industry sentiment about
the housing market fell in June
to the lowest point in more than
16 years.

Secondary effects from the
housing downturn like layoffs
and restrained consumer spend-
ing could also start surfacing,
said Aaron Smith, an economist
with Moody’s Economy.com.
But the overall drag on the
economy from the housing
industry should decline in com-
ing months, he said.

“Building permits cannot
continue declining at the pace
they have,” Smith said.

Apply in writing with CV to:
General Manager

P.O.Box SS-19028

Nassau

Or fax to: 394-2353
Or email to info@summitbah.com

Closing date: 29th June, 2007









=}
CES

member of the QNB Group

IER





The Ansbacher Group, specialists in private banking, fiduciary services
and wealth Management has an opening in The Bahamas for the position of




SENIOR TRUST MANAGER






To profitably and effectively administer and manage client relationships
and portfolios of Trusts, Companies, Estates, Family Offices and other
related financial structures to achieve the client’s requirements and ob-
jectives while safeguarding the related assets and professional reputation
of the company within the required legal, financial and other parameters.





-The successful candidate must have the following qualifications and
experience:




> 10+ years trust experience with sound knowledge of fiduciary
products and services




’



> Relevant degree level education in business, law or accounting



> STEP designation or equivalent professional qualification




Computer proficiency in relevant software programs (Windows,
Word, Excel, PowerPoint)




) Exceptional sales, advisory and inter-personal skills




> Fluent in Spanish and proficient working knowledge of Portuguese





Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

E-mail: hrmanager@ansbacher.bs

Deadline for all applications by hand, fax or email is June 27, 2007











PAGE 8B, FRIDAY, JUNE 22, 2007

THE TRIBUNE BUSINESS











Tribune Comics



JUDGE PARKER

YOU KNOW, \ "aI THAT'S BECAUSE
ABBEY..-RACHEL )*% SHE'S SICK, NEP---
DOESN'T LOOK 4 VERY SICK!

RACHEL *
HAS BRAIN
CANCER---AND
SHE'S DYING!

WE
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ABOUT
IT LAST
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APARTMENT 3-G
TOMMIE RETURNS HOME AFTER AN | DON'T BE CO. YOU TOLD
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Wt CAN'T!
WINNER, YOU CAN

IT'S FROZEN

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(©2007 by Monn america Dyndicam, Inc. Word rights reserved.

















WELL...

I NOW NLSO NEED To UNNE
DONGSTIC eet

GOOD BUSINESS GENCE,

FOL
DININITN WHICH, MEANS SPOTTING ROKR CHARACTSR,
BN'T JUST [HP TRENDS THAT CREATE NEN NEGASS NATIONS
COOKING MARKETS. AND KT THE VU
FOREFRONT OF THOSE TRENDS 6

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HEY PUNKINHEAP —
; ANY CONNECTION BETWEEN
A THESE STICKY POORKNOBS
@)) Py) ANP Your LOLLiPor?
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¢ | - oe



Lod ery cle



“DENNIS, YOU WERE TOLD
‘NO YELLING, REMEMBER?” AWESOME ECHO YOU
EVER HEARD?”





TAST. BY UNWWE RSM. PRESS SYROIMTE

Dennis



1. You are declarer with the West
hand at Three Notrump, and North
leads the jack of hearts. How would
you play the hand?

West East
@AK #1072
VAKQ V84
#Q62 @KI7543
&QI1083 &92

2. You are declarer with the West
hand at Six Clubs, North having
opened the bidding as dealer with
one diamond. North leads the queen
of diamonds. How would you play
the hand?

West East
#Q3 @KI64
VAQ52 V97
o¢— A887
PAKQ9873 31062

eke

1. This is one of those cases
where, with proper play, you’re sure
to make ‘the contract regardless of
how the opponents’ cards are
divided. Win the heart and play the
queen of diamonds, not a low dia-

_mond. If the suit is divided 4-0 and

the defender with the A-10-9-8 takes
the ace, you later lead a low diamond
and play low from dummy to assure
nine tricks; if the defender with four
diamonds does not take the ace, stop
playing diamonds and attack clubs.
If both opponents follow to the dia-
mond queen and it holds the trick,



The
Target
uses
words in
the main
body of
Chambers
21st
Century
Dictionary
(1999
edition)

HOW many words of four
letters or more can you make
from the letters shown here?
In making a word, each letter
may be used once only. Each
must contain the centre letter
and there must be at least one
nine-letter word. No plurals.
TODAY’S TARGET

Good 15; very good 22;
excellent 29 (or more).
Solution tomorrow.





















“WASN'T THAT THE MosT

Test Your Play

BiGrelan

lead another diamond to dummy’s
jack. If the jack also wins, shift your
attention to clubs, forcing out the A-
K and thus making four notrump.

If you were to make the mistake of
leading a low diamond to the jack at
trick two, you might find yourself
going down if, for example, South

had the A-10-9-8 of diamonds and.

took the jack with the ace.

2. It is virtually certain that North
has the ace of spades and king of
hearts for his opening bid. It would
therefore be wrong to rely on a heart
finesse, especially when there is a
much safer method of play. _

The best approach is to start by
ruffing the queen of diamonds. It
would be wrong to play the ace from
dummy, which would force you to
make a discard from your hand
before you are ready to do so.

After drawing trumps, you next
lead the three of spades toward
dummy, placing North squarely on
the horns of a dilemma. If he goes up
with the ace, you can later discard
the Q-5-2 of hearts on the K-J of
spades and ace of diamonds. Alterna-
tively, if North ducks the spade, you
win with dummy’s jack, discard the
queen of spades on the ace of dia-
monds, lose a heart finesse to North’s
king and later trump two hearts in
dummy. Either way, you make the
slam.

adage agar agate aged

argue argued auger drag
drudge drug gate gated gear
gradate grade graded graduate
GRADUATED grate grated
great guard guarded raga

rage raged trudge trudged

trug urge urged

:
&
%





OK, THATS
HOW WE'LL’ Do
KICK OFFS.



FRIDAY
JUNE 22

ARIES —- Mar 21/Apr 20
You must take your finances more
seriously, Aries. You haven’t been
paying much attention to your cash
flow in the last few months.
Resources can deplete quickly.

TAURUS - Apr 21/May 21
Something that happened in the
past has recently come back to
bother you, Taurus. You must for-
get the situation so that you can
get on with your life.

GEMINI - May 22/Jun 21

If you do something nice for a person
close to you, you will be rewarded
ten-fold in the coming weeks. Plus,
you’ ll have the pleasure of seeing the
joy on that person’s face.

CANCER - Jun 22/Jul 22

You will gain something this week to

which you are not entitled, Cancer.

Consider giving it back, otherwise you

rp. be left with a heavy conscience
aring down on you.

LEO - Jul 23/Aug 23
Show coworkers that you are willing
to put in the hard work needed to get
through tough projects ahead, Leo.
This will be more effective than sim-
ple flattery.

VIRGO -— Aug 24/Sept 22

Be friendly to strangers, Virgo, but

also be on your guard for those who

are looking to take advantage of

your generous nature. They may.

seem like friends at first. :

LIBRA — Sept 23/Oct 23
Mending fences is something you
often consider a chore, but it’s the

f/secret to successful relationships,

Libra. Just don’t always be the one
who gives in to compromise.

SCORPIO —- Oct 24/Nov 22__.
You have to learn that the world | -
doesn’t revolve around you,
Scorpio. You are not right in
every situation. Such thinking can
hinder productivity.

SAGITTARIUS ~ Nov 23/Dec 21
You are prone to causing arguments
when they are not justified just to get
a rise from someone, Sagittarius.
This is not a healthy or friendly way
to behave.

CAPRICORN - Dec 22/Jan 20
Focus on your creativity this week,.
Capricorn. Maybe there is a project you
wanted to start or finish. Redecorating
is a good way to develop any creative
ideas that are swarming.
AQUARIUS - Jan 21/Feb 18
Don’t let the negative gossip of oth-
ers rub off on you this week,
Aquarius. Continue to be the diplo-
mat and you’ll keep your friends’
support and companionship.

PISCES — Feb 19/Mar 20
Pisces, when an important decision
arises, the answer is to try, some-
thing different rather than doing
what you always do.



LEONARD BARDEN

ACROSS DOWN
9 A fruit tree with another beside it (9) 1 Aweapons expert, is
10 Should he want changes made in angry (2,2,4)
one, declining (2,3,4) 2 Abias thatis, perhaps, only
12 Aninstinct for that’s pronounced, one right (3-9)
‘realises (4) 3 By spring run off — back to the
13 Saying it’s near, urge on (6) foreigner (8)
14 Shut up about, as anon- 4 — One's brought in support, to spanish word for
cosmopolitan (7) oppose (6) Prva 2
15 Abird- that's right. Bred 5 Loss of face for the steeplejack, now
out east (9) aminer? (4-4)
5: 17 Had levelled with on having 6 — The regular fare (6,4)
H T exceeded the dosage (9) 7 Shiftily, treads softly through, as one
18 Stuck to the point, though slips off (7) C H ESS Loh] Leo nard Barden ,
W confused by (7) 8 The relevance of money gets
0 19 Followed by the police, interwoven through it (10)
; hurried off (6) 11 Sadly, there's a Viastislav Tkachiev v Rafael ;
‘e 20 Question why you got short deficiency of (5) Sr ne isies Porcuitine:
i iri 16 Does it wind up on the beach? (6 . ¢ ge Ribose
\ : measure, being poured san (4) ice iy M! : : ach? (6) and once described his priorities
23 Given to the current editor (9) eset ly an automatic as “sea, sangria and sex”. But
N 25 Ascribe to a particular property (9) switch (3) the Kazak, who now lives in
26 Taking a break in Los Angeles, 21 Trying to find a seat? (5,7) — Paris, showed fine form when he;
os too (4) 22 Feel better when the key EASY PUZZLE ; won the 2006 French
27 Goes round to get the garments (6) is inserted (6) So arse ar = championship, and went on toa
0 29 Increase for FBI agents in the start of 23 Hippy? Wrong! (4-6) ACROSS 27. Aristocracy (6) 6 CityinNW career-best result this spring :
t h 7 24 Control "22" (4 2 4) 9 Period of truce (5-4) 29 De ot warship (7) England (10) when he took the European title
N Hessen) i 10 Wipe out (9) 32 Of choice (9) 7 Disclose (7) ait Diesden’ahead ofmoresiian
: 32 Looking for a child in the burning 25 Akiss from a goose (3) 12 Red meat (4) 34 Crosses (9) 8 Downcast, 180 rival masters. i
1 : 9 “B28 Recording made of wild tigers a year 13 Be able to buy (6) 35. Meeting for boat disheartened (10) ) rival grandmasters. here as
E enclosure (9) 9 gers ay 14 Shrewd, informally races (7) 11 Contuse (5) White (to move) his pieces seem
34 An aberration in take off (9) back (8) (52) ina ce Slate of being ie (6) S eel ue (6) far distant from the black king,
35 To getrid of, | throw back into 29 Acceptance for a few a chum brought HS 4. Pe a 38 Coo. fan (9)| 21 aura style (12) but two positive factors are the
C the tree (7) round (8) 17 Remaining fresh and} 39 Sot a Tne 6 caus (6 iby potential knight outpost at f6
: ‘iets ; ib) j ' vital (9) janitor in dry biscuit ‘ . :
36 Aministerial address (6) 30 Aids to climbing those terribly old go @ Cleaning cloths (7) | DOWN 24° Tennis term (3- and lurking tactics ph back
R 37 Having to go back to get the boy (4) in for (8) 19 Former monetary 1 Sword holder (8) 25 Sob (3) _ row. There isa key hidden
38 Lifting the lid up, it gives one a 31 Is very tight with small curls (7) unit (6) 2 Live within one's 28 Concerning (2,2,4) variation which results in an
20 Woodwind means (4,4,4) 29 Nalters (8) unusual checkmate, and
0 _ surprise (3-6) 33 A pupil - the one and only (5) instrument (4) 3 Hidden 6) 30 Aromatic shrub (8) Thactiev spotted ean au a
| ; 23 School subject (9) dangers 31 Small falcon (7) .
s 39° Humbled and cold, got a move on (9) 34 Manage to get straight (6) 55 Fat 9) 4 Tune (6) 33 Keon (5) ae wall?
26 Greek letter (4) 5 Unnecessary (8) 34 Hypnotic state (6)
W 1 ‘CRYPTIC SOLUTIONS EASY SOLUTIONS AE
0 ACROSS: 4, Morose 7, Hard core 8, T-win-ge 10, Aport 13, Barn 14, Men-u 15, ACROSS: 4, Repast 7, Gladioll 8, Scotch 10, Elite 13, Dear 14, Sash 15, Send 16, Chess solution 8396: 1 Nib+ Kt (or Kh 2 Qxc8+) 2
R K-ale 16, Cop 17, Fair 19, S-t-un 21, Sup-porter 23, W-asp 24, NASA 26, Why 27, Pat 17, Eros 19, Ever a1, Protester 23, Duet 24, Rose 26, Win 27, Tots 29, Raid Qxc8+ Bxc8 3 Rd8+ Ke7 4 Re8 mate. Black can hold
Even 29, St-y-e 32, Wait 33, H-e-ard 34, Refill 35, Lifebelt 36, Bertha 32, Lens 33, Aside 34, Spoons 35, Explicit 36, Slight out longer by 1...Qxf6 2 Qxc8+ and 3 exf6, but White
D DOWN: 1, C-he-am 2, Argon 3, Scat 4, Metal 5, Ru-l-n 6, Sign on 9, W-rest-s 11, DOWN: 1, Ogres 2, Saris 3, Time 4, Risen 5, Poor 6, Sucker 9, Cadets 11, Lag 12, wins easily on material.
Pen 12, Ruf-us 13, Baronet 15, Kip 16, Cur 18, Appeal 20, Teas-e 21, S-ay 22, Ran There 13, De 15. Sot 16, Per 18, Rotten 20, Veers 21, Pun 22, SOS 23, Dispel
23, Wheeze 25, Ayr 28, Villa 30, Tales 31, E-Dl-th 32, Wilt 33, Ho-E-d D5 Aid 28. Onset BO, Altch 31, Delta 32, Long 33, Ally





2

on le,

wep

THE TRIBUNE



FROM page 1

. be comprehensive “will really

do you in” if implemented, Dr
Walker warned, as it promised
that all residents and almost all
benefits/forms of healthcare will
be covered.

However, he argued that the
“most sinister” aspect of the for-
mer government’s scheme was
that it would have eliminated
private healthcare facilities,
such as hospitals, by only per-
mitting private spending for ser-
vices that exceeded or were not
covered by NHI.

Bahamians and residents, if
the PLP’s NHI scheme had
been implemented, would have
not been able to “put your hand
in your pocket and pay for hos-
pital or doctor treatment”, Dr
Walker said.

He added that the Supreme
Court in Canada had recently

ruled against such practices in
the Canadian healthcare sys-
tem, finding that the system
“violated the constitutional
rights of Canadians”. Canadi-
ans’ healthcare was being dam-

, aged, and a universal, compul-

sory health insurance system
was not necessary, the court
ruled.

Similar concerns had killed
healthcare legislation in the US
that was sponsored by presi-
dential candidate Hillary Clin-
ton, and Dr Walker said: “You
need to realise that this is what
is being proposed in the
Bahamas. This provision is the
most sinister one in the report,
and is the Achilles heel of the
Canadian scheme, as it was
recently rejected by the
Supreme Court of Canada.”

The NHI scheme proposed
by the former administration,
by contracting with private hos-

BUSINESS

pitals and other facilities to pro-
vide services for the plan, would
have gradually taken control by
determining budgets and pay-
ments.

Dr Walker, though, agreed
that health insurance should be
made mandatory via legislation.
He explained that this was to
prevent any healthcare financ-
ing system being exploited by
‘free riders’, who never bought
health insurance because they
were secure in the knowledge
that ‘Good Samaritans’ in soci-
ety would pick up the tab for
them. This, in turn, raised
healthcare costs for everyone
else.

However, Dr Walker
described as “nonsense” the
proposal that the National
Insurance Board (NIB) be used
to administer an NHI scheme,
warning that it was “going to
blow a lot of dough and not give

you what you want”.

The Blue Ribbon Commis-
sion’s own report pointed out
that NIB was too costly, 25 per
cent overstaffed and inefficient,

‘ but did not say how these issues

would be tackled to ready it for
NHI. There were also the “hid-
den costs of monopoly” in hav-
ing NHI act as the sole admin-
istrator of NHI.

Dr Walker also decsribed as
“absolutely dumb” any NHI
system that did not employ
some form of user fee, co-pay-

ment or deductible to discour- -

age over-use of healthcare ser-
vices. He added that poor peo-
ple could be exempted from
paying these.

Under NHI, the Government

- would have “decided every-

thing” in relation to healthcare
spending and resource alloca-
tion in the Bahamas, with the
connect between patient and

CUSTOMS. fron page 1. —_-V__—.. ——rr

them until the issue was
resolved.

Mr Lowe said the episode
again highlighted the need for
all parties to the Hawksbill
Creek Agreement - the Gov-
ernment, through Customs and
the Ministry of Finance, the
Grand Bahama Port Authori-
ty (GBPA) and its licencees -
to sit down and discuss the

« issues relating to the agree-
* ment and the Customs Guide,
“” which has no asis in statute

“law.

Although he was waiting to

, Teceive-and study a copy of the
. judgement in the Home Centre

case, to see how it impacted
the bonded goods regime, Mr
Lowé said: “This is an issue
that has raised its head many
times over the last 40 years,

- and the guide, which was cre-
« ated some time in the early

a

.

* 1970s, has only succeeded in

muddying the waters and the
situation.
“It has only served to con-

t * ‘ :
, fuse the situation because it

.. represents an informal give-

and-take between the Port
Authority and Customs.

“The practice does not even
resemble the Guide, which fur-
ther shows the need for there
to be a meeting of minds to
resolve this to the satisfaction
of everyone involved, with a
high priority placed on educa-
tion.”

The Home Centre verdict is
the latest in a string of court-
room defeats suffered by the
Customs Department in rela-
tion to bonded goods and its
attempts to enforce duties on
businesses and residents in
Freeport, many feeling these
efforts were prompted by the
department’s suspicions that
too much revenue was being
lost as a result of the Hawksbill
Creek Agreement.

Under the Hawksbill Creek
Agreement, Grand Bahama
Port Authority (GBPA)
licencees are entitled to import
duty-free into Freeport a
whole range of goods, which
can then be sold on duty free
to other GBPA licencees, pro-
vided the goods are for use in
their businesses.

While Freeport-based

wholesalers sell stock in their






this notice.



Post House Studio & Gallery
Please Call (242) 327-7562

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, AUDRICK ALVARDO
WILLIAMS of P.O. Box AB-20218, Marsh Harbour, Abaco,
Bahamas, intend to change my name to VADO SHERLIN
BOOTLE JR. If there are any objections to this change of
name by Deed Poll, you may write such objections to the
Chief Passport Officer, PO.Box N-742, Nassau, Bahamas
no later than thirty (30) days after the date of publication of

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CORDEISHA |
AUDRANIQUE WILLIAMS of PO. Box AB-20218, Marsh
Harbour, Abaco, Bahamas, intend to change my name to
CORDEISHA AUDRANIQUE BOOTLE. If there are any
| objections to this change of name by Deed Poll, you may
write such objections to the Chief Passport Officer, RO.Box
N-742, Nassau, Bahamas no later than thirty (30) days after



the date of publication of this notice.















NOTICE

NOTICE is hereby given that SCHADRAC NICOLAS, CABLE
BEACH, NASSAU, BAHAMAS, is applying to the Minister

responsible for

Nationality and Citizenship,

for

registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 22ND
day of JUNE, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DERISSON NOEL OF PALM
BEACH, P.O. BOX N-4705, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 15TH day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, RO.Box N-7147, Nassau,

Bahamas.





stores and display goods on
their shelves-to the general
public, a different practice has
often been adopted when oth-
er Port Authority licensees
seek to purchase these prod-
ucts as bonded goods.

The Customs Guide to the
Hawksbill Creek Agreement








June 21, 2007.

Liquidator.

Ripa

NOTICE

NOBLESS HOLDING S.A.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
NOBLESS HOLDING S.A. is in dissolution as of

LIQUIDATOR

requires wholesalers to retrieve
products from bonded storage
in their warehouses when they
are purchased by customers
entitled to receive them duty
free.

Yet is is now understood

- that bonded goods are also

now being displayed at retail.



International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is the

NOTICE

MONVALLEY PORTFOLIO INC.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
MONVALLEY PORTFOLIO INC. is in dissolution

as of June 21, 2007.

International Liquidator Services Inc. situated at 35A
Regent-Street; P.O. Box 1777, Belize City, Belize is the

Liquidator. |

LIQUIDATOR

Bist!

Pricing Information As Of:
Thursday, 21 June 2007

Abaco Markets



Aan

FRIDAY, JUive ez, 2007, PAGE 9B



‘Sinister’ NHI plan would eliminate private health care

service delivery entirely elimi-
nated.

In Canada, waiting times to
see doctors and for specialist
treatment were different in all
provinces, leading Dr Walker
to charge: “Whatever they
think, whatever they promise,
you are not going to get univer-
sal, same access across all the
islands of the Bahamas. We’ve
been trying to do it for 40 years,
and the result has been vast dif-
ferences in access to health-
care.”

The Canadian healthcare sys-
tem was among the world’s
costliest, but it was not among












\




BENCHMARK (BAHAMAS) ITD.
ANNOUNCES A SPECIAL DIVIDEND

FOR THE SECOND HALF OF 2007

The Board of Directors of Benchmark
(Bahamas) Ltd. Announced at it Annual General
Meeting the declaration of a special dividend
of one cent per share based on the results of the
company for the first half 2007.

Payment will be made on 3ist July to
shareholders of record 16th July 2007

the world leaders when it came
to issues such as life expectancy,
infant mortality and perinatal
mortality.

Between 200-2001 and 2004-
2005, total revenues generated
by the Canadian government
gad risen on average by 3.5 per
cent, but health care spending
was growing at 8.1 per cent. In
Ontario, the wealthiest
province, if this trend was not
reversed, total public health
spending would absorb 100 per
cent of the province’s revenues
by 2026. In some Canadian
provinces, 50 per cent of the
budget goes to healthcare.




STs












Bahamas Property Fund
Bank of Bahamas

Benchmark

ELIT Y

Notice is hereby given that the Twenty-seventh
(27th), Annual General Meeting of THE
PUBLIC WORKERS’ CO-OPERATIVE
CREDIT UNION LIMITED will be held at
The British Colonial Hilton Hotel, West Bay
Street, on Friday, June 22, 2007 commencing
at 6:30pm for the following purposes:

To receive the report of The
Board of Directors.

To receive the Audited
Accounts for 2006.

To elect members of The Board
of Directors.

To discuss and approve the
budget for 2008.

All members are urged to attend.
Refreshments will be served!
















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

P. ier Real Estat



Bahamas Supermarkets
Caribbean Crossings (Pref)
JEND

28.00 ABDAB
14.00 Bahamas Supermarkets
5 j *

1.2933
2.9038
2.3915
1.1695
11.0199

Colina Money Market Fund

Fidelity Bahamas G & | Fund

Colina MSI Preferred Fund

Colina Bond Fund

Fide ity Pri come Fund 11.551!
‘ 1 FINDER ¢



Suiaees Sete ORR TNS en
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000. YIEL
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks



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

Daily Vol. - Number of total shares traded today

DIV § - Dividends per share paid,in the last 12 months

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

—_-

TO 08.80% / 2006 34.47%



12 month dividends divided by closing price” NAV KEY

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

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

*- 15 June 2007
** ~ 30 April 2007
***- 31 May 2007

**e* - 30 April 2007








Laer ele

{| INSURANCE MANAGEMENT

| (BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS

THE WEATHER REPORT






aoe FTN) A Speen C10 Te1e 1 eee) 00105117, ce TTT) CTT) A 7 ete : Te aL ae
ag ae : - ae 5 Today - ‘Saturday WINDS WAVES VISIBILITY WATER TEMPS.
High = Low ~W High Low W WASSAU = Today: S at 5-10 Knots 0-1 Feet 4-7 Miles 83° F









E at 5-10 Knots 0-1 Feet 4-7 Miles 83° F
SSW at 5-10 Knots 0-1 Feet 5-7 Miles 82° F
VAR at 5-10 Knots 0-1 Feet 4-7 Miles
S at 5-10 Knots 1-2 Feet 5-7 Miles 82° F
VAR at 5-10 Knots 4-7 Miles



~ MODERATE



Clouds and sun with Partly sunny, a Times of clouds and Times of clouds and Clouds and sun, a The higher the AccuWeather UV Indexâ„¢ number, the
a stray t-storm. t-storm possible. sun. sun. t-storm possible. greater the need for eye and skin protection.





High: 88° ppeal 88° High: 90° ~ High: 90° 93/33 80/26 t
Err © 75° 86/30 77/25 pe
Saar eer er a iT Low: 2 73/22 62/16 s





[0F | =e [102-87 F |








































92/383 72/22 pe
The exclusive ae igre eos. is an — ae Commitee the effects iu foriperstie ne. an caries voi Preciplation, pressure, and Today 1:54am. 23 8:02am. 0.3 stares ae wi
elevation on the ae ody—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 2:29p.m. 2.5 8:42pm. 0.5 "7195 55/12 é 72/22 SA/12 t
7 nee 3:20pm. 2.5 9:38pm. 0.5 63/17 45/7 pc 6417 48/8 pc
Statistics are for Nassau through 2 p.m. yesterday So 3a5am. 21 95am. 04 day od5am. 21 935am. 04 66418 47/8 t — 668 45/7 tS
ABACO Temperature = 411pm. 2.5 10:33pm. 0.5 ~ ao ie ae ae se c
°C ANGI eccentric peiticcens venee 89 FB2C S77 a a«Ct«CvS TO r pe
peeoereme LOW scssrcsanonurnonnmann 78 RDG C MOMIAy CTR ot eee ts Galo 99/37 71/21 s 101/38 71/21 s
NOAH DION asucemiscraununaiisO MOC aaa: ee * 9484 83/728 t —°—S=~*BD. «BAD
Normal low .......... a rivoseeeteHeieeriieactee 74° F/23° C Calgary 69/20 49/9 s 70/21 46/7 s
Last year’s NiQH ....cecesesisenee 87° F/31°C SUN Pai titer Cancun 86/30 73/22 t 98/31 77/25 t~
Last year’s OW ow. seas 19° FB C : ; Caracas 84/28 68/20 pc 84/28 68/20 pc
Precipitation Sunrise. ..... 6:21.a.m. Moonrise .... 1:21 p.m. Casablanca ~ 68/20 64/17 s "78/25 70/21 s
As Of 2 p.m. yesterday ......sssssssecssseerseeeee 0.00" Sunset ...... 8:03 p.m. Moonset....12:55a.m. — Copenhagen 70/21 59/15 r 67/19 58/14 sh
Year to date ........ Say Lee 29.34” First New Dublin ~64A7 52/11 sh 63/17 50/10 pc
High: 87° F/31°C Normal year to date oceans east 16.47” Frankfurt 70/21. 44/6 t 64/17 47/8 t
Low: 74° F/23°C % Geneva Pee ORT SAO 4+ 679 SOMO t
AccuWeather.com Halifax 60/15 46/7 sh 5915 45/7 c
. lie All forecasts and maps provided by ‘Havana: 4 86/380 «73/22 t ~ 83/28 «77/25 t — KX\] Showers
ALLE = : AccuWeather, Inc. ©2007 Jun. 22 Jul. 14 Helsinki 68/20 48/8 s 70/21 52/11 pe FSS] T-storms
191° F/33°C Es ; Hong Kong 90/32 81/27 c =—— «9/82 80/26 c =f [o"3~] Rain
TT° F/25° CG : ° ie Islamabad oe 102/38 85/29 's 12/44 88/31 s | [_*] Flurries Shown are noon positions of weather systems and
Istanbul 87/30 75/23 s 98/36 80/26 s BEE snow precipitation. Temperature bands are highs for the day.
. Jerusalem 89/31 65/18 s 94/34 72/22 s_ oo 1s Forecast high/low temperatures are for selected cities.
Johannesburg 626 39 s - 605 = «=—-38/8 s
Kingston 90/32 81/27 c 90/32 79/26 c
Lima. 6447 5643 pe 679 56/13 pe
London 66/18 55/12 t 66/18 54/12 t
Madrid 827 S7N3s —s- 88/81. 57/13 s
Manila 86/30 78/25 t 92/33 78/25 t
Mexico City 7222 S5N2t —«- 73/22«SS2 t
Monterrey 90/32 70/21 t 94/34 73/22 t
Montreal 68/20 5542t «76/24 ‘58/14 pe
eee Moscow _ 68/20 48/8 pc —72f22 92/1 s
Shown is today's weather. Temperatures are today's . Nairobi : 73/22 Safir 72/22 STO
highs and tonights's lows. New Delhi 9786 81/27 pe 95/385 «-81/27 t
Oslo 6317 54/12 6 66/18 55/12 sh
; Paris 6618 S5N2t —s-« 68/20. SAND
Prague — «77/25 5613 pe 71/21 54/12 t
2 Rio de Janeiro $026 69/20 s ——s- 84/28 «69/20 s :
Namen = Riyadh 10288 8026s 10188 81/27 s_
ao : Rome 5 84/28 «668 pe 3 3———*8 2/27 «S73 Ss : q Or: . ‘ou can rest easy knowing
Today | Saturday Today Saturday Today Saturday St. Thomas. fie TaleG a ___ 89/31 79/26 pe ae
High Low W High Low W High Low W High Low W High Low. W High Low W esse : eh . in see a a s- o have excellent insurance
FIC FIC FIC FIC FIC FC FC FIC Fc FIC FIC FIC San Salvador _ 90/82 7afe2t == 88/31 72/22 t oe 1
Albuquerque 96/35 70/21 s 94/34 6719 pc Indianapolis 80/26 GING t 84/28 6347 t Philadelphia 81/27 5713 s 82/27 60/15 s iago OO 872 SOO 27-2 pe cov era € no matter which
Anchorage 66/18 52/11 c 65/18 51/10 pc Jacksonville © 88/31 68/20 pc 93/33 71/21 pc Phoenix 108/42 85/29 s 110/43 82/27 s SantoDomingo = 91/82 75/23 po 8/29 72/22 po Z
Atlanta 94/34 69/20 s 90/32 72/22 pc Kansas City 91/82 72/22 t 93/33 69/20 pc ‘Pittsburgh = 76/24 51/10 s 78/25 S412 pe RAGGEDISLAND "iat Sad Pato ERE SRE S822 STATS . a wie?
Atlantic City 80/26 55/12 s 83/28 54/12 pc LasVegas 108/42 79/26 s 106/41 79/26 s Portland,OR 73/22 53/11 pc 68/20 50/10 pc High: 89° F/32°C Low: 7 SOU oe Ol BALT7 pC _____BAI3N__7 1/21. pe. .
Baltimore 84/28 55/12 s 82/27 S613 s LittleRock 92/33 70/21 s 93/8 68/20 pc _—‘ Raleigh-Durham 94/34 66/18 s 92/33 66/18 ft” Low: 74°F/23°C Stockholm" 6618 S814 c G47 SO/I5 sh
Boston 76/24 57/13 pc 78/25 57/13 s LosAngeles 80/26 62416 pc 79/26 60/15 pc St.Louis 88/31 74/23 t 89/31 72/22 t al a ALIS eae aoe E.
Buffalo 70/21 52/11 pe 78/25 5743 s Louisville 84/28 65/18 t 85/29 66/18 t Salt Lake City 96/35 66/18 s 96/35 65/18 s”
Charleston, SC 88/31 68/20 pc 92/33 70/21 pc Memphis 96/35 75/23 s 95/35 73/22 pc SanAntonio 90/32 75/23 t 91/32 72/22 t GREAT INAGUA * HRSG RIP RES _—_atr7 sara pe
Chicago 78/25 61/16 t 83/28 65/18 t Miami 91/32 78/25 t 89/31 78/5 t . San Diego 72/22 64/17 pe 72/22 62/16 pe ne ee Trinidad “91/32 oe ; oi 70/21 "
Cleveland 73/22 51/10 pc 81/27 58/14 s Minneapolis 82/27 67/19 t 88/31 70/21 s Sanfrancisco 69/20 52/11 pc 67/19 53/11. pc Low: 79° F/26 van ee
Denver 94/34 61/16 pc 95/35 61/16 s New Orleans 93/33 73/22 s 93/33 75/23 pc Tallahassee 94/34 69/20 s 96/35 70/21 pc em 75/93" 5442 pe ——«S75/23 S12 t
Detroit 79/26 5713 pe 82/27 6116 s New York 77/25 6518 pe 80/26 61/16 s Tampa °° 88/31 74/723 t © 90/82 74/23 ft Wenkse: 82/27 64/17 t 83/28 62/16 t
Honolulu 88/31 75/23 s 88/31 75/23 s OklahomaCity 87/30 69/20 t 91/32 68/20 pc Tucson 108/42 78/25 s 105/40 75/23 s sai
Houston 92/33 71/21 pe 93/33 71/21 t Orlando 92/33 72/22 t 91/82 73/22 t ‘Washington, DC 86/30 62/16 s 86/30 61/16 . pc me Sesinat (h es aiy Pe rare ou Sieh tere

storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace





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HIGH
LOW



?'m lovin’ it.

82F
70F

& im"







The Tribune



#1 PAPER IN CIRCULATION



She Miami Herald

BAHAMAS EDITION





Volume: 103 No.175

FRIDAY, JUNE 22, 2007

RON RICARDO and ¥



PM says govt has ‘no
fear’ over election court

i By BRENT DEAN
Tribune Staff Reporter

‘PRIME Minister Ingraham
declared that he and his govern-
ment have “no fear” in response
to the PLP’s election court chal-
lenges that have the potential of
changing the balance of power in
the Bahamas.

_ Acconfident Mr Ingraham chal-

lenged the PLP to “bring it on”
yesterday while speaking to the
media at Lynden Pindling Inter-
national Airport on his return
_...rom-the CARICOM/US confer-
ence on the Caribbean, held at
the State Department in Wash-
ington, DC, Wednesday.

Met at the airport by 12 mem-

bers of his eabinet, Mr Ingraham



@ PRIME Minister Hubert
Ingraham shakes hands with US
President George W Bush at the
US State Department during
CARICOM’s meeting with the
President as part of the CARI-
COM/United States Conference
on the Caribbean in Washington
DC. e SEE PAGE TWO

(Photo: OAS)

did not say whether his party had
assembled a legal team to defend

‘its interests in the cases, but he

advanced the party’s right to
defend the seats it won.

“The FNM will defend what it
won on the battle field. We’ll see
what the allegations are and we
would take appropriate steps to
defend it in the court of law. We
will not seek to try the case in the
newspaper, as appears to be the
case now,” he said.

“We won them squarely and
fairly on the battlefield. They are

FNM seats and we intend to keep

them — all of them,” the prime
minister added to thunderous
applause from his cabinet.

When asked if he would be
willing to call another election if
the court decision changed the
results with the three seats in
question, the Prime Minister said:

“Only the people of the
Bahamas can determine their
government. Courts can’t deter-
mine that. Governments are
determined by elections. We had
an election, and the people deter-
mined that.”

Although the prime minister
said that his party will abide by
the court decision — from which
there is no appeal — he also sug-
gested that he is not afraid to
exercise his right to call another
election, if his party lost seats in
the challenges.

“The authority to call elections
in the Bahamas — general elec-
tions — vests in myself for the time
being. And if, or when, IJ think it
is necessary to do so, I shall do so.
At the moment I have no inten-
tion of doing so, but things change
sometimes,” he said.

The PLP filed election court
challenges in three constituencies
by last Monday’s deadline — Mar-

SEE page 11

Be asc he
er ies ther Li cic

ets aa

cles Lea

Frequency
Lect dhl dood Sl

Ce tay tor ig
Bahamian-owned +
seein llc sh ta ct

a aL er ead
eee eet a ee re ey,
E: MAILBOAT@CORALWAVE.COM —







ae

@ 27- YEAR. OLD Eduardo Carey (left) and
21-year-old Tito Davis outside of court
yesterday

(Photos: Tim Clarke/Tribune staff)

@ By NATARIO McKENZIE

A MAN, 27, charged with the murder of
Deangelo Armbrister was arraigned in Magis-
trate’s court yesterday.

A second man, accused of abetment to Arm-
brister’s murder, was also arraigned in court
yesterday.

Armbrister, 21, of South Beach Estates was
killed on Brougham Street off East Street last
week. According to reports, Armbrister was
repairing his car outside ‘the home of his girl-
friend’s mother when he was approached by a
man armed with a shot gun. He was shot in
the head.

Eduardo Carey of Windsor Estates was
arraigned before Magistrate Carolita Bethel
at Court cight, Bank Lane, yesterday, charged
with the murder of Armbrister. According to
court dockets on Tuesday, June 12, at New
Providence while being concerned with oth-
ers, he is accused of causing the death of Dean-
gelo Armbrister. Carey was not required to
plead to the murder charge. Tito Davis, 21, of
Step Street was also arraigned before Magis-

SEE page 11











‘WE'VE GOT |



PRICE — 75¢

Brain drain ‘even more
ICM ager Ca
|SEE FRONT PAGE OF BUSINESS









Gas price rises
to $4.87 a gallon

@ By PAUL G TURNQUEST
Tribune Staff Reporter

LITTLE relief can be seen in the
coming days for Bahamian motorists
as the price of gasoline continues to
climb, now at $4.87 a gallon.

Across the United States, however,
the price of gasoline has dropped to
an average $3, as the price of oil on
the international market fell by $0.91
cents to settle at $68.19 a barrel on
the New York Mercantile Exchange.

However, while prices may have
dropped in the US, Phenton Ney-
mour, State Minister for Utilities,
said that does not mean that prices in
the Bahamas will have to follow the
US market.

Mr Neymour said the Bahamas
purchases most of its fuel from
Venezuela, and as such, the market
forces that affect US prices would
not directly affect the purchasing

SEE page 11

HURRICANE SHUTTERS

CERTIFIED BY FLORIDA HURRICANE LABS @ LIGHTWEIGHT, DURABLE & EASY TO INSTALL = ¢
CUSTOM BUILT UP TO 10 FT,e HURRICANE PROTECTION MABE EASY

ys OP eP tse ROBINSON RD, FREEPORT! 351¢1310 * LOGWOOD ei

ee Deere Je ee No, ee



Healthcare
model for
proposed
NHI scheme

‘is in decay’

@ By ALISON LOWE

THE Canadian healthcare

- model on which the Bahamas'

proposed National Health
Insurance scheme is modelled

~ isin."decay" and certain of the

system's provisions, which NHI
is set to mirror, were even ruled
to be unconstitutional.
Presenting a lecture "Lessons
from Global Experience for
Bahamian Health Care
Reform" at a Nassau Institute
symposium yesterday, Dr
Michael Walker, a renowned
economist and fellow of the
Fraser Institute of Canada who
has spent decades studying
global healthcare systems, said
that of all models the Bahamas
could have taken inspiration

SEE page 11

Death sentence of
convicted murderer
commuted to
life in prison

CONVICTED murderer
Angelo “Nasty” Brennen is no
longer a “condemned” inmate
now that his death sentence has
been commuted to life in prison,
The Tribune has learned.

Yesterday Supreme Court
Justice Jon Isaacs re-sentenced
Brennen to life in prison.

In 2005, Brennen was con-
victed and sentenced to death
for the October 2004 shooting
death of Ruthmae Pinder. Ms
Pinder was standing at a bus
stop opposite Temple Baptist
Church on Farrington Road on
October 29, 2004, with her two
daughters. It was learned
through testimony that Ms Pin-
der had ended a relationship
with Brennen six months before
she was killed. According to
witness testimony, Brennen shot
Ms Pinder twice, puncturing her
left lung and left side. Lawyer
Romona Farquharson repre-
sented Brennen and Director
of Public Prosecutions Bernard
Turner appeared for the prose-
cution yesterday.

Since the Privy Council’s

SEE page 11







we Bu It mato




PAGE 2, FRIDAY, JUNE 22, 2007

THE Tr



Minister speaks out over the

three children sent to prison

@ By ASHLEY THOMPSON

MINISTER of State for
Social Development Loretta
Butler-Turner spoke out yes-
terday about sending three
children to Her Majesty’s
Prison.

The minister also corrected:

what she described as false
statements made about the
case of a 12-year-old girl by the
girl’s mother.

On January 2, 2007, the girl
was found home alone when
police arrived with an arrest
warrant for her and her moth-
er for failing to appear in court.

The girl was then taken into
protective custody where she
was placed in a home.
























































sSSSss

Wee

-_
Hi MINISTER of State for
Social Development, Loretta

Butler-Turner

Almost three months later
the child did not return to the



Newborns have your smile and demeanor

Role-plays of Uncle Mario are the norm of our day
Siblings still pine anytime, anywhere, even today

And parent's love for our departed son strengthen with cach tea

You missed your wedding and the birth of your child
Degrees hang on walls - a reflection of valued time
There is no stench from your shoes and unkempt room
Memories of your warm embrace are missed in our homes

A generation is simply gone much too soon

We count our blessings and give thanks to God
Still engage in altruism that you use to warm your heart
But even in the midst of the beauty and joys of our life
We can't explain how much WE MISS YOU!

WE LOVE YOU

Love, Daddy, Mommy, Yasmine, Leslie, Monty, Leslia, Jaycian,
Mikhail, Grand Bahama Mama, uncles, aunts,
your brotherintaw, Andrew, and faithful friends.



e

LEROY Mill!

Still see you in the darkness
And in the merriment of the daylight
Slightest provocations remind us of you
Bringing bouts of sadness or welcomes gaiety too

|

home after school. Two weeks
later she was found living with
her mother, who had previ-
ously denied to police having
any knowledge of her daugh-
ter’s whereabouts.

The child was returned to
the children’s home where her
continuous disruptive and
uncontrollable behaviour led
to her appearing before the
juvenile court for destroying
bathroom fixtures.

This resulted in her being
committed to the Willie Mae
Pratt Centre for Girls.

The girl was one of seven
who damaged over $2,000
worth of property before flee-
ing the centre last month.

Juvenile court returned them
to the centre where she was
one of the three who tried to
escape again two weeks later.
This time the three girls were
sentenced by the court to be
held at the prison for three
months.

Mrs Turner said the ministry
is not happy with anyone under
18 being placed in the prison,
but the only two correctional
facilities for children in the
country — the Willie Mae
Pratt Centre for Girls and the
Simpson Penn Centre for Boys
— often operate at maximum
capacity.

As of Wednesday, the Willie
Mae Pratt Centre had 42 resi-
dents and the Simpson Penn
Centre 56.

When children cannot be
managed at the centre due to
their behaviour, the precedent
has been for the juvenile court
to send them temporarily to
the prison.

Admitting that this is not an
ideal situation, Mrs Turner
said: “The government must
move quickly to either expand
the facilities and services at the
centres or establish new ones
with the proper resources.”

Establishing new facilities

/
y BY
A

oh |
At





would also allow correctional
facilities to be created to house
juveniles between the ages of
16 and 18 as the Child and
Young Persons (Administra-
tion of Justice) Act only allows
the centres to accommodate
children aged 10 to 16.

Some parents appeal to the
state to have their children
placed in the centres because
they cannot control them. In
situations like this “the state
must step in and be a safety
net,” Mrs Turner explained.

She urged an examination of
society to determine why the
number of children being sent
to these centres is increasing.

The ministry is now looking
at action plans which include
strengthening the national par-
enting programme and reha-
bilitative programmes at the
centres.

It is also considering increas-
ing the number of school-based
programmes and structured
character building community
activities.

Caribbean conference
in Washington, DC
releases joint statement

A JOINT statement was released from the participants
in the Conference on the Caribbean in Washington, DC,
Wednesday highlighting, among other things, the recog-
nition that the establishment of the CARICOM Single
Market and Economy is a critical element to the growth
and development of the Caribbean Community.

Despite endorsing the agreement, the statement on
CSME does not bind nations such as the Bahamas to any
specific policies.

The FNM government made it clear during its budget
communication that it will not sign on to the agreement,
which was a significant point of national debate under
the PLP government.

-Some of the key components of the agreement include
the free movement of goods and services; a common exter-
nal tariff; and a common trade policy. However, the free
movement of labour provision of the agreement received
the most criticism, with many Bahamians fearing an influx
of poor dependent Caribbean citizens, to further com-
pound the large illegal Haitian migrant problem that suc-
cessive Bahamian governments have been unable to get
under control.

The members also expressed a commitment to extend
cooperation in health, continuing the US President's Emer-
gency Plan for AIDS Relief (PEPFAR) in the Caribbean.

The emergency plan is the largest commitment ever by
any nation for an international health initiative dedicated
to a single disease — a five-year, $15 billion, multifac-
eted approach to combating the disease around the world
— which includes 32 countries from the Caribbean and
Latin America.

A further commitment was made to work toward the
expansion of the pilot reintegration programme for depor-
tees in Haiti to include other CARICOM members states,
along with the development of new ways to facilitate,
coordinate, and communicate between immigration ser-
vices among member states.

The group also gave a vote of confidence in the gov-
ernment of Haitian President Rene Preval, though
acknowledging that the country will require further sub-
stantial international "support in the implementation of a
consistent and long-term strategy of institution and capac-
ity building."

In the post September 11th environment, the group
further pledged to work together in the fight against ter-
rorism, trafficking in persons, drugs, small arms, and
transnational crime.

$5,000 reward for
return of pendant

A $5,000 reward is being
offered for the return of a stolen
piece of jewellery. ,

An eight-carat, six-sided
emerald crystal pendant was
stolen last month. The pendant
is about one and half inches
long and half.an inch in diame-
ter.

The item was stolen during
an armed robbery in the eastern
district of New Providence.

Any information should be
directed to: police emergency
at 919/911, CDU at 502-
9930/9991, police control room
at 322-3333, Crime Stoppers at
328-8477, or the nearest police
station.



















MAIN SECTION _ -—
Local NOWS cisceccscsereeceP12,4,5)0,8,1112
_ Editorial/Letters. 0.0.0.0: cscs ee
BOVIS cooocecstetuctroene ee PB 910
BUSINESSSECTION = i sssts—te
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CLASSIFIED SECTION 36 PAGES

MIAMI HERALD SECTION: _ o

Miami Herald Main....:ssssePage 1-12
Miami Herald Sports ..sssssssescenenn P1317
Local Sports..enescssssscernesssssuosnssarataveraet Lene

3

- Concern over
houses with m;
construction fla

@ By DENISE
MAYCOCK
Tribune Freeport
Reporter

FREEPORT - Granc
Bahama Port Authority
is under fire for passing
inspections for occupan
cy of newly-built gover.
ment houses that are
plagued with major con-
struction flaws.

Minister of Housing
and National Insurance
Kenneth Russell said the
government is very con-
cerned about construc-
tion of defective houses
being built by contrac-
tors at various housing
sub-divisions in the
Bahamas.

He noted that newly-
purchased houses are
falling apart, some with-
in less than four months
of construction.

While in Grand ©
Bahama on Wednesday,
Mr Russell said that
some houses in the Sun-
set and Heritage sub-
divisions are in need of
major corrective repair
work that is estimated at
around $45,000.

He said that there are
similar problems with
new built houses, as
well, in New Providence
and Exuma.

In Freeport, the Grand
Bahama Port Authority
is responsible for issuing
building permits and
occupancy certificates _
for all new building con-
struction in the Port
area,

An official at the
Grand Bahama Port
Authority’s building and
technical department did
not wish to comment on
the matter.

The government is
now embarking ona
home repair programme
to restore government
houses that are in need
of major corrective
repairs.

Mr Russell said
although contractors are
accountable for what has
happened in Grand
Bahama, he feels that
the Port Authority and
Ministry of Works also
bear some responsibility.

“In Freeport, the final
inspection for occupancy
is made by the Port
Authority. And, accord-
ing to the Port Authori-
ty’s rules and regula-
tions, they were sup-
posed to inspect the
houses from the start.

“Personally, Iam
holding them also
responsible and I have
told them that. If you
have to make a final
inspection, the least you
can do is walk through
the house and look
around.

“There is a lady at the
Sunset sub-division who
says that her floor is
leaning. So, if an inexpe-
rienced person who has
never worked in con-
struction in their life can
see that the floor is lean-
ing, then persons who
have been working con-
struction all their life
should spot that the
floor is leaning.

“If the Port Authority
inspectors had done
their final inspection
before they signed off,
then these problems,
most of them, would
have been caught,” he
said.

Mr Russell said those
contractors responsible
for building defective
homes will be taken off
the government’s list.

“Those contractors
will have to learn to

’ build a house before
they can get contracts.
We are not going to give
contracts to people
because they are FNMs.
When I leave this place I
do not want what is hap-
pening now to be my
legacy,” he said.

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nman
oots man
er money

29-YEAR-OLD man was
t on. Wednesday evening
r being approached by a
adlocked gunman in the St
yans Drive area.
‘he gunman knew the vic-
1 and asked for money he
lieved was owed to him. The
‘tim explained that he clid
yt have any money with hin.
The gunman then shot the
stim with a handgun before
eeding off in a Hyundai car.

Hospital authorities said

le injuries were not life-
ireatening. A man is helping,
olice with inquiries.

an helping
olice with
nquiries
ver murder

A MAN wanted for ques-
ioning by police has been
irrested.

David Cooper Cunning-

1am, 29, was held on

Vednesday.

He is helping inquiries into
he most recent murder in
“unlight Village.

mmunition
ound during
search of
ouse

- CRIMINAL Detective
Unit officers searched a home
off Kemp Road yesterday.
Nine live rounds of ammu-
ition for a 9mm handgun
vere found.
Two male relatives, aged
1 and 29, were arrested.

Men arrested
in connection
with Nassau

‘ murder

FREEPORT - Two New
Providence men wanted for
questioning in relation to a
recent murder in Nassau
were held in Grand Bahama.

Chief Supt Basil Rahming
said police had issued an all
points bulletin and distrib-
uted wanted posters of the
suspects, who were spotted
by local residents.

He said the duo were held
at about 4.15am on Monday
when Flying Squad officers
went to an apartment at
LaFayette Gardens complex.

Eduardo Carey, 27, of 1
Windsor Road, Windsor
Estates, and Tio Davis, 21, of
Step Street, Fox Hill, were
both being sought for ques-
tioning in connection with the
recent murder of DeAngelo
Armbrister.

The men have been flown
to New Providence.

Mr Rahming thanked the
public for its continuing sup-
port in efforts to combat
crime.

$3.99yd

Huge bill expected J
to fund repairs to
government homes

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - A number of
newly built low-cost govern-
ment houses are in need of
major corrective work to repair
extensive construction flaws —
some estimated at around
$45,000 — in Nassau and
Freeport, a government minis-
ter has revealed.

Minister of Housing Kenneth
Russell stressed that the gov-
ernment is very concerned
about the numerous problems
being experienced by new
homeowners in various hous-

ing sub-divisions in the

Bahamas.

He noted that newly-pur-
chased houses are falling apart
within less than four months of
construction.

While in Grand Bahama on
Wednesday, the minister and
various housing officials visited
several housing sub-divisions
throughout the island.

During a press conference
held at the Ministry of Hous-
ing, Mr Russell not only blamed
contractors for the shoddy con-
struction of homes, but also
pointed his finger at the Grand
Bahama Port Authority and
Ministry of Works, which are
responsible for conducting
building inspections.

Mr Russell said the govern-
ment is now embarking on a
Home Repair Programme, to
repair faulty houses that were
not built according to proper
specifications.

He noted that one house in
the Heritage sub-division, which
has a construction value of
$60,000, is in need of some
$45,000 worth of corrective
repair work.

He also said that two or three
other homes are also facing sim-
ilar repair work in New Provi-
dence.

Some of the major problems

‘Contractors accused of shoddy
workmanship by Kenneth Russell







KENNETH Russell

that are cause for concern are
extensive wall cracking, ceiling
collapse and leaky roofs, as well
as floor, plumbing and electrical
problems.

“We are very concerned
when someone purchases a
house and in less than four
months that house is leaking.
We are very concerned when
someone purchases a house
three years ago and has been
complaining for three years
about cracks that should have
been repaired.

“We are very concerned that
here in Freeport we have a
house that is going to cost
$45,000 to repair and has a con-
struction value of $60,000,” he
said.

Minister Russell said govern-
ment will send a team of inspec-
tors to review the homes and
speak with homeowners in an
effort to correct the problems.

Once a review is completed
and inspection carried out, he

New Supreme Court
judge is appointed

ESTELLE Evans has been
appointed by Governor Gener-
al Arthur Hanna, on the advice
of the Judicial and Legal Ser-
vice Commission, to act as a
Supreme Court judge, in effect
from September 1, 2007, for 18
months.

Mrs Evans will be assigned
to the northern region and pre-
side at Freeport, Grand
Bahama, with effect from

_November 1, 2007, succeeding

Mr Justice: Maynard.

Currently serving as registrar
of the Supreme Court, Mrs
Evans was admitted to the
Bahamas Bar on December 16,
1988, having served articles of
clerkship under Mr Frederick

: - Smith of Callenders and Co as
an associate for six years.

Mrs Evans is married to Chief
Supt Shannondor Evans.

Born in Forbes Hill, Exuma,
on November 19, 1954, Mrs
Evans graduated from Prince
William Baptist High School,
1970, and in 1974 graduated
from Shaw Business College,
Toronto, Canada.

Joining the Office of the Judi-
ciary as the deputy registrar,
northern region, in January,
1995, she served in that post
until she was seconded to New
Providence to serve as acting
project co-ordinator of the
Bahamas Integrated Justice
Information Systems (BIJIS)
Project, a post she held until
her appointment as registrar of
the Supreme Court on March
1, 2004.

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said the government will obtain

an estimate for the repair work
so that contractors can begin
repairs.

Mr Russell believes that fund-
ing for the Home Repair Pro-
gramme should be available
next month after the budget.

“We will first engage inspec-
tors that are not inspectors of
the Ministry of Housing to
inspect houses...and this time
we will allow for there to be
negotiations in the selection of
contractors based on their expe-
rience and knowledge,” he said.

Mr Russell warned that con-
tractors responsible for the
shoddy construction will be held
accountable by the government.

“Contractors who botch up
people’s houses will be held
accountable in two ways: one if
they have not gotten their pen-
sion money yet, in order to get
it, they will have to repair the.
house. Two, if they have gotten
their pension money and are

not prepared to assist us in the _

repair of homes, they will be
removed from our list of con-
tractors,” he said.

In addition to contractors, Mr
Russell said that the housing
inspectors, housing staff, the
Grand Bahama Port Authori-
ty, and the Ministry of Works in
Nassau are all accountable for
what has happened.

“The former government is
also responsible for what has
ee .the people of the

Bahamas have already dealt
with them. I assure you we (the
FNM government) have no
intention of this happening
again as long as we are in
office,” he said.

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- TRh



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Another look at health care is needed

THE Nassau Institute and The Atlas Eco-
nomic Research Foundation sponsored an inter-
esting half-day symposium yesterday on chang-
ing the direction of a country to re-energise its
talents. It was a pity that government was not
represented, because with the challenges the
Bahamas now faces, new ideas should not only
be welcomed, but eagerly sought.

However, at least Health Minister Dr Herbert
Minnis will benefit from the wealth of healthcare
knowledge amassed over the years by Dr
Michael Walker, an economist, and founder of
The Fraser Institute with offices in Vancouver,
Calgary and Toronto. They were to meet yes-

terday afternoon after Dr Walker had complet- —

ed his healthcare talk at Atlantis, where the
symposium was held.

Dr Walker was one of three speakers — all
very interesting in their own fields — who the
Institute introduced to Bahamians.

At the symposium Dr Walker talked about
the lessons that Bahamians should learn from the
global experience of others so that in planning
their own health care reform, they can avoid
serious and costly pitfalls.

Calling the.proposal set out by the Report of
the 2004 Blue Ribbon Commission on Nation-
al Health Insurance (BRC) — commissioned
by the Christie government — a tax that will
eventually consume the national budget, he
warned Bahamians not to put their health care
in the hands of politicians.

Drawing a great deal from the Canadian
model, which he found very similar to the one
proposed for the Bahamas, he gave facts:and fig-
ures of how national health insurance in Cana-
da has failed to deliver what it had promised
— in fact, he said, Canadians were not “getting
what they paid for.” According to him, the Cana-
dian model was not one to follow. Even the
Canadian Supreme Court had ruled that cer-
tain of its provisions ‘were unconstitutional
because it denied a person’s free choice to med-
ical care.

Giving many examples of how patients did
not get the standard of care that politicians
promised, he told the story of Saskatchewan,
where hospitals were erected on almost every
street corner to buy votes, but once completed,
they were not funded. Here in the Bahamas the
Christie government talked of the clinics that
would be erected, especially on the Family
Islands, under the scheme. The government was
stopped in its tracks when Bahamian nurses
asked a very practical question: With the present
shortage of medical staff, who is going to man
the new clinics? That question was never
answered.

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7:00am, 9:00am, 11:15am

PASTOR EARLE FRANCIS J.P.,D.D.
Marriage Officer, Counsellor, Intercessor
Phone: 323-6452 © 393-5798
Fax: 326-4488/394-4819

Studying the BRC report, Dr Walker ques-
tioned whether those who put it together had at
any time studied the wealth of world statistics
that would have guided them from the model
they had chosen. He suggested that they should
have been looking instead at the healthcare of
Australia, Sweden and Japan.

All statistics proved, he said, that no govy-
ernment can afford to provide the same quality
of healthcare without some limitations. Choices
had to be made as to which patients would be
cared for, and how far that care could econom-
ically be sustained.

Canada, for example, had the costliest sys-
tem with, as far as patients were concerned, the
worst healthcare available. In Canada there
were no choices. There were no private hospitals.
All were government owned. He said that
healthcare expenditure in all of Canada’s
provinces overtook that country’s total revenue
between 1997 and 2005.

Even with such high expenditure, patient
access to healthcare shrank and the quality of
service worsened. Even Alberta with all its oil
wealth performed no better in providing health-
care than did the other Canadian provinces.
Countries that also have private health care do
better by their citizens, he said.

In his opinion government’s Blue Ribbon
Commission was introducing a “Trojan horse”
into the future of Bahamians. “I don’t think
they realise what they are proposing,” he said.

Like household and car insurance, he said,
health insurance should only cover catastro-
phes. For example, no one would expect insur-
ance to pay for a tyre change or oil leak in a car.
These would be considered ordinary running
expenses. By the same token, health insurance
should only be called on for serious health prob-
lems, not for the occasional headache or cold
fever. One only had to recall Russia, which had
tried the impossible while the world watched
its rapid decline.

Dr Walker predicted that if national health
insurance were managed by the National Insur-
ance Board (NIB), as recommended, it would
“blow out a lot of dough, and not provide what
you want.”

Even the Blue Commission Report had to
admit that a study of the efficiency and effec-
tiveness of NIB showed that it was “overstaffed
by approximately 25 per cent and that it needs to
significantly improve its management processes.”

Right from the beginning, the BCR had writ-
ten into the programme the formula for failure.

This is a scheme that needs much expert con-
sideration. If handled badly, it could destroy
this country.



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customer service!

Planning for
development

EDITOR, The Tribune.

AS Abaco grows and devel-
ops ever more rapidly we need
to take pause for a few
moments.

Reflect.

Economic growth is essen-
tial for development, and we
all know that. It provides for
improved living standards, bet-
ter welfare systems, improved
infrastructure, construction,
and in a tourist economy, more
and more resort project initia-
tions. Employment rates
increase, people spend more,
and communities tend to feel
fatter and happier.

Expanding economies:

require more and more physi-
cal space, and land values ele-
vate as property demand
becomes more competitive.
Remote areas of the landscape
become more attractive for
both speculative investments,
as well as for social infrastruc-
tural development. As pressure
increases on remote areas, so
does the pressure on endemic
and indigenous ecosystems,
habitats, species and land
forms.

We must all remember that
the attractiveness of our coun-
try relies on, and, is a product

of our natural resources and.

ecosystems.

Our beautiful beaches and
shallow seas are a synergy with
our living coral reef habitats,
which maintain a protective
barrier against the extreme rav-
ages of winter storms and hur-
ricanes.

Our swamp lands, creeks,
and marls generate unique
forests full of unusual birds,
insects, crustaceans, fish, rep-
tiles and, now, mammals.

These same tidal creek sys-
tems provide nursery areas for
our commercially exploited
marine species, including lob-
sters, scale fish, and the highly

desired land crab.

These same tidal low lands
provide a buffer zone between
the pinelands and the raw
exposure of the oceans and
deep seas. They also provide a
gradient along which the fresh
water run off from the aquifers
of the pine yards can flow sea-
wards, and so help support our
unique mangrove habitats.

The pine forest areas are
essential for the generation of
the high levels of rainfall expe-
rienced in all the northern
islands of the Bahamas. Fresh
potable water is the result, and
presently we have an ample
supply. These pine areas have
also been periodically devel-
oped for large scale agricultur-
al production systems of many
thousands of acres.

The drier coppice and hilly
greenlands are again unique in
species and habitats, providing
large amounts of forage for
native bird species and reptiles,
butterflies and moths. These

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areas occur mainly along the
coast behind the beautiful
beaches; and have become high
value real estate ripe for the
foreign capital we so urgently
require.

I could go on and on quoting
examples of natural systems
and commercial values so
important for the Bahamian
economy. However, as earlier
mentioned, we rely totally on
our natural systems for our
very high standard of living.
We also want and need to keep
it this way.

As development takes place,
and the pressure on natural sys-
tems increases, so does the
potential for destructive prac-
tices. We as a people have
already seen the need for habi-
tat and species protection. The
Inagua National Park (flamin-
gos), the Exuma Land and Sea
Park (marine ecosystems), and
the Abaco National Park (par-
rots); are examples where
species conservation dictates
habitat protection to support
those species. This is why pro-
tected areas tend to be so large.

Environmentalists would be
much happier if all the sensitive
areas were protected and con-
served, with severe limitations
on development. However we
all realise that to maintain our
well being and provide for
future generations physical
expansion and development go
hand in hand with improved
standards of living.

This why we need to take
pause.

Reflect.

In our headlong rush for
development we must all
accept that to protect our way
of life we also need to protect
and nurture our natural envi-
ronment. To this end we must
take on the onus of acting
responsibly. We need to learn
to plan for development; and
we need lots of information to
be able to plan. So we need
access to the knowledge of

¢ Localised information

e Resource assessment and
environmental considerations

e Existing institutions, struc-
tures and operations in the area

e Future area growth,
demands, and consequences

e Regulations and legal
aspects

e Taxation and exemptions.

e Consequences of irrespon-
sible actions

The above represent just a
few examples of information
we need in order to plan effec-
tively for development. It also
clearly demonstrates the need
for consultation.

Local councils, local com-
munities, local governmental
agencies all have a wealth of
information available for plan-
ning. However they all become
impotent when local input is
bypassed and central govern-
ment is utilised to more rapid-
ly approve a development pro-
ject.

There are instances where
approval may never be sought
because local monitoring is
ineffective, because of arro-
gance, and because of lack of
knowledge and thought. All
three present a potential for
permanent environmental
damage.

Here in Abaco we presently
have three examples of recent
infringement on natural sys-
tems with the potential for
future severe consequences.
Two involve the Government

of the Bahamas (arrogance,
and the third a lack of thought
and corisultation by a loca
equipment operator.

The central government, in
its quest to provide an
improvement in the waste han-
dling fiacilities of the Bahamas
has seen fit to forge ahead with
the construction of a waste
landfill site and two satellite
transfer stations with no real
local consultation, no apparent
seeking of permits and
approvals, and no considera-
tion for the Abaco environ-
merit. The result has been the
ongoing construction of two
waste (reception and) transfer
sites situate in environmental-
ly and socially sensitive areas;
where permanent irreversible
damage to local potable water
sources, agricultural, and eco-'
touristic institutions are not
only possible, but likely.

The third involves the use of
heavy equipment to begin land
clearing and road preparation
in the protected area of the
Abaco National Park. This pre-
sents a distinct and probable
threat to the contiguity of the
area and its eventual fragmen-
tation. Once this happens then
irreversible damage to the ecol-
ogy of the park becomes appar-
ent. \

The above examples all ,
expose a lack of consideration
and concern for the local Aba-
co landscape, and a total disre-
gard for local institutions and
welfare. In the case of the .
Bahamian government this is ~
both frivolous and irresponsi-
ble, and reflects a level of
incompetence only exceeded :
by its arrogance in its refusal
to take a reparative course of
action. All the above cases pre-
sent a real and potentially dev-.
astating effect on our natural
heritage and ecosystems. The
implications for the future are
immense.

The only way to prevent
future instances and occur-
rences such as these is for the,
Abaco community to prepare a
comprehensive ‘Plan for
Development’ which must take
into consideration all the facets
implicit in a growth strategy
for the island.

These must include social,
economic, and infrastructural
considerations, land and
marine systems, ownership,
access, resource exploitation
and other environmental con-
siderations.

Other physical factors such
as climate, sea levels, weather
changes, coastline resilience,
habitat alterations and effects
on resource health and conser-
vation need to be considered.
This is especially so for potable
water, commercially exploited
species, nursery areas, histori-
cal and ecologically sensitive
sites such as blue holes and vir-
gin lands.

It is important to consider
that with a rapidly developing
economy and a huge area of
unexploited resources, includ-
ing prime land for real estate
development, the Abacos hold
the potential to become the
seat of the economy for future
growth in the Bahamas.

It is terrifying to think of
the consequences of this with-
out a proper and implemented
plan for development.

The choice is ours.

Take pause for a moment.

Reflect.

JOHN F HEDDEN
Marsh Harbour, ,
Abaco,

May 21, 2007.

5 CUBE $353.00



Basic responsibility to include:

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SALES DRIVERS WANTED

7 CUBE $445.00

e Maintain product, service and image standard

° To assist in supervision of all phases of
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¢ To maintain a high level of efficiency &
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Applicants must be at least 23 years of age, self-motivated,
disciplined and possess the following:

25 CUBE $995.00
Please send résumé on or before
Attention: Human Resource Department

PO. Box SS-6704

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Or Fax 356-7855

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to pick up an application form.




BUNE

n brief

police
ze $55k

firearm,
est man

EEPORT — Grand
na police arrested a
man at Lucayan Har-
ind seized $55,000 in
ind an illegal firearm
ered onboard the MV
1.
ice said officers, acting
formation, went to the
yur at about 8pm on
day and boarded the
oat. They saw a young
fitting the description
to them of a suspected
n.
e suspect was walking
ly away from the vessel
rds the gate. As police
oached, the man tried
e but was apprehended.
lice took him back on
1e vessel to a section
re the officers retrieved
5 semi-automatic pistol
ed with four live bullets.
hey also seized $55,680
, which is suspected of
g the proceeds from a
inuing criminal enter-
s a result, a 23-year-old
lent of New Providence
Grand Bahama was
sted and taken into cus-
’ at the Central Detec-
Unit, along with the
d items.
he man was formally
rged on Thursday.

Share
your
news

The Tribune wants to hear

from people who are
making news in their
neighbourhoods. Perhaps

you are raising funds for a

good cause, campaigning
for improvements in the
area or have won an
award.

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

FRIDAY, JUNE 22, 2007, PAGE 5



‘Bahamas endorses

CSME — but still
won't sign on

A JOINT statement was
released from participants of
the Conference on the
Caribbean in Washington DC
highlighting, among other
things, recognition that the
establishment of the CARI-
COM Single Market and Econ-
omy as a critical element of the
growth and development strat-
egy of the Caribbean Commu-
nity.

Despite endorsing the agree-
ment, the statement on CSME
does not bind nations such as
the Bahamas to any specific
policies.

The FNM government made
it clear during its budget com-
munication that it will not sign

on to the agreement, which was
a significant point of national,
debate under the PLP govern-
ment.

Some key components of the
agreement include the free
movement of goods and ser-
vices, a common external tariff
and a common trade policy.

However, the free movement
of labour provision of the agree-
ment received the most criti-
cism, with many Bahamians
fearing an influx of poor depen-
dent Caribbean citizens to fur-
ther compound the large illegal
Haitian migrant problem that
successive Bahamian govern-
ments have been unable to tack-
le.

Members also expressed a
commitment to extend co-oper-
ation in health, continuing the
US President's emergency plan
for AIDS Relief (PEPFAR) in
the Caribbean.

The emergency plan is the
largest commitment ever by
any nation for an international
health initiative dedicated to
a single disease - a five-year,
$15 billion, multi-faceted
approach to combating the dis-
ease around the world — which
includes 32 countries from the
Caribbean and Latin Ameri-
ca.

A further commitment, too,
was made to work toward
expansion of the pilot reinte-



& HUBERT Ingraham shakes hands with US President George

W Bush

gration programme for depor-
tees in Haiti to include other
CARICOM member states,
along with the development of
new ways to facilitate, co-ordi-
nate, and communicate between
immigration services among
member states.

The group further offered a
vote of confidence in the gov-
ernment of Haitian President
Rene Preval, though acknowl-









edging that the country will
require further substantial inter-
national "support in the imple-
mentation of a consistent and
long-term strategy of institution
and capacity building."

In the post-September 11
environment, the group further
pledged to work together in the
fight against terrorism, traffick-
ing in persons, drugs and small
arms, and transnational crime.

THE owner of a private
island in Exuma has boasted he
has more gun permits than any-
one in the Bahamas, claiming
‘it’s who you know.’

Jack N. Halcomb, whose
Leaf Cay goes on the auction
block at $12 million later in the
month, is quoted by ABC News
as saying he has five gun per-
mits - “more gun permits than
any other person in the
Bahamas.”

“They don’t easily issue you
permits for one gun,” Halcomb
said. “If you know the right
people you can get them,” ABC
reports.

Halcomb’s 15-acre island,
with its beautiful beaches and
two residences, is expected to
draw opening bids of $12 mil-
lion.

“It’s not for everybody, but
it’s a real good place to get
away, completely relax,” Hal-
comb, who’s owned the island

for 20 years, told ABC
News.

The auction is sched-
uled for June 28 in Fort
Lauderdale, Florida.

Nearby islands are
owned by superstars John-
ny Depp, Nicholas Cage,
David Copperfield and
Eddie Murphy.

“It’s isolated. Nobody
gives you any trouble,”
Halcomb said.
could stand on the beach
naked for a week and
nobody would ever see you.”

Leaf Cay is one of 17 of the
roughly 800 inhabitable islands
in the region that has its own
title, according to Louis “Ben-
ny” Fisher, chairman of Fisher
Auction Co,

Halcomb bought the island
in 1986 for $650,000.

He told ABC he made $25
million worth of property
improvements since he first

A FRIENDLY REMINDER

MASS DISCONNECTION EXERCISES
IN THE FOLLOWING AREAS:

Mt Royal Ave, Hawkins Hill, Palmdale, Mackey St and
Murphyville. Yamacraw, Elizabeth Estates, Kool Acres,
Lumumba Lane and Hanna Rd, Sandilands Village, Seabreeze
Lane, Eastern Estates and San Souci. Marshall and Cowpen
Rd including Misty, Pastel and Faith Gardens, Golden Gates,
Carmichael Rd, Yellow Elder Gardens and Bluehill Estates.

PRIORITIZE!

PAY ALL ARREARS ON YOUR BEC BILL IMMEDIATELY!

All overdue BEC payments must be made at the Head
Office on Biue Hill and Tucker Roads, the Mall at Marathon

or the Main Post Office.

Powering The Bahamas for Generations





ou @ LEAF Cay seen from



the air

moved in and ran his business
part-time from the Bahamas,
selling electronic surveillance
equipment to the military and
law enforcement agencies.

Initially, he ran the company
in Florida before moving the
business to his island. In 1992
he sold the company, Audio
Intelligence Devices, to West-
inghouse.

But skin cancer made Hal-
comb, who now lives on a Ken-




PART OF YOUR LIFE




SmartChoice

tucky ranch, decide to
sell the island.

“The doctors
ordered me to get out
of the sun. ... They
said: get rid of the
island or make funeral
arrangements,” he told
ABC News.

Leaf Cay is self-suf-
ficient.

A seven-mile under-
sea cable — Leaf Cay’s
one of the few islands
tied into the Bahamas
power system — six back-up gen-
erators and two dozen solar
panels provide a steady supply
of electricity.

Drinking water is supplied
by underground cisterns that
capture and store up to 145,000
gallons of rain water. A back-up
desalinisation plant was
installed seven years ago that
can turn 5,000 gallons of sea-
water into drinking water.



RANGER

Crew Cab

Available at

FRIENDLY MOTORS CO, LTD

THOMPSON BOULEVARD ° TEL.: 356-7100 ¢ FAX: 328-6094

EMAIL: friendlymotors@hotmail.com ¢ WEBSITE: friendlymotorsbahamas.com

2007 Ford “RANGER”

2.5L common rail turbo diesel,
automatic transmission, power windows
locks & mirrors, dual air bags, alloy
wheels, bedliner.

Leaf Cay has its own wood
and metal shops, seven electric
golf carts, a fork-lift, tractor and
lots of building supplies.

Halcomb says he bought
everything, including tyres, nuts
and bolts, ‘lock, stock and bar-
rel’ when a Florida hardware
shop went bankrupt.

He has four spare refrigera-
tors still inthe box.

A freezer building holds up
to 4,000 pounds of frozen food -
Halcomb says he keeps two to
three years worth of canned and
frozen supplies.

Just as he didn’t have to wor-
ry about his safety, Halcomb
never feared that he’d starve.

TROPICAL

ee
mea MeL
ST area yy


















THE TILE KING, FYP LTD, THE TRIBUNE,
have partnered to supply critically needed
DIALYSIS MACHINES
for the Princess Margaret Hospital

SAVE A LIFE,
—ITCOULD

Pia: s Help us raise $164,000 |
(I-r) - Barry Packington, financial controller Kelly's; Sean D. |

Moore, marketing manager, The Tribune; Nancy Kelly, execu- to purchase 8 dialysis
tive vice president, Kelly's; David Kelly, president, Kelly's. machines for the PMH.
Donation $20,500. |
You can donate
aoe ; ne $1.00 - $100,000 every cent counts.





Each dialysis unit costs $20,500
which includes complete installa-
tion, training of staff members and 1
year of technical support. All dona-
tions should be made payable to
. | The Princess Margaret Hospital
(It) Mark Roberts, Tile King & FYP Ltd.: Michelle Taylor, office Foundation with a note for The

manager, Palmdale Vision Centre; Sean D. Moore, marketing
manager - The Tribune. Donation $2,000. Dialysis Machine Fund.



Your contribution will help hundreds
of patients that currently rely on
these machines for life.

ks | + Contact Sean D. Moore of The
eo 4 Tribune at 502-2394 or Thelma
on Rolle of the Princess Margaret

(I-r) Mark Roberts, Tile King & FYP Ltd.;Garry Julien, manag- Hospital Foundation at 325-0048 to

er - Cowpen Building Supplies; Adriel Julien, secretary - |
Cowpen Building Supplies; Robert Carron - The Tribune. make a donation.

Donation $20,500.
3UNE FRIDAY, JUNE 22, 2007, PAGE 7
- LOCAL NEWS



THE TR:

TALL
a ACU



Atlantis eatery has
taste of the east



an

, eevee

- ee ook QE

aasnwoenwws























ari
FP
Baha
young
bour .
cash «
discos
Fiest
Po, _ . eS i
ee @ CRISPY crab wontons M@ HONG Kong steak features i THE mixed seafood
Tuée include garlic cream cheese New York steak stir-fried with selection features lobster,
mailt and crab-filled wontons served peppers and onions in a garlic jumbo shrimp, scallops tossed
San —_—_— with chili plum sauce. pepper sauce. in white wine sauce served on
sek $ 147 600 a bed of pan-fried noodles.
Th THE newest Atlantis restau- “We wanted something con- _ internationally renowned Mar-
quic! — rant, Chop Stix, has brought an temporary and unique and we tin Yan of the popular PBS
tows $ l 3 l 200 oriental touch to the Paradise thought Chop Stix was all of the series “Yan Can Cook’, as well
appr — 9 Island resort. above, in that people willimme- in the kitchens of well known
to fle Formerly called Mama Loo’s, _ diately know that it’s a Chinese _ restaurants, including the Unit-
Pc a the Chinese restaurant opened _ restaurant,” said Mr Lahr. ed States’ popular P F Chang’s
tot’ $1 14 800 its doors to great fanfare after Innovative Chinese food China Bistro.
whe ——— 9 undergoing a transformation of | infused with some Bahamian . Atlantis’ food and beverage
a2 its menu and a major renova- elements is how Mr Lahr _ team is confident that the new
loac = tion of the restaurant. described the Chop Stix cuisine. restaurant, managed by
i Peter Lahr, Atlantis’ general Mr Lahr commended the Bahamian Liz Seymour, will
cas} eae $98 ADO manager of restaurant and bar restaurant’s new chef de cui- add a new dimehsion to the
bei 9 operations, said the restaurant’s sine, Dennis ‘DJ’ Cheek, an __resort’s dining experience while
con = new name reflects the type of | expert cook who has worked __ providing guests with a taste of
pris. cuisine that it serves. with celebrity chefs such as _ fine Asian-Bahamian cuisine.
A —
resi:
o $82,000
arre
tod: oe
tive
: — $65,600
T s 9
che

~_ $49,200
_ $32,800

___ $16,400

Boshi



@ CHOP Stix’s chef de cuisine, Dennis ‘DJ’ Cheek, at centre, displays Asian-Bahamian cuisine
featured in the new restaurant at Atlantis, From left: Dwight Sands, Rollington Sands, ‘DJ’,
Cowan Thompson, Michael Russell and Dantley Jolly.



Donations to date.

Edward E. Patton « Annette Rolle ¢ Antoinette Rolle e Howard N.
Darville e Rolden & Associates ¢ The Elodie Tomlinson Memorial
¢ Sidney Johnson e lan & Janet Jennings e Media Enterprises
e Anthony & Irene Miaoylis

- Taking care of you
and your family

AMILY GUARDIAN

INSURANCE COMPANY LIMITER








Dahi

Spout

uma “Health

To enter attach 3 wrappers from any of the products shown, fill in the entry form and drop into entry boxes
in participating stores or The d‘Albenas Agency in Palmdale. Contest ends July 27th , 2007.

TILE ¥ KING FYPLTD

* DOCTORS HOSPITAL

Head For Lift

Kelly’s "352.

Tel: (242) 383-4002 Fax: (242) 393-4096 - Nassau, Bahamas

3rd Prize

Whirpool Refrigerator

2nd Prize
Whirpool Washer and Dryer

1st Prize

Panasonic 32” Plasma TV

The Tribune

Wy Vorce. My Vlewspaper!




BAHAMAS
ee Kf LG eo

EST, 1E46




Church

“Growing a Healthy Church to Impact Our Werld"

@ aggalandale Vision Cont, @

“Vie vare for your wiser ag we wauld our oun”



Ebbie Shearer - Jackson, op, rAA0 ie
Optometrist t

One person can make a difference,
that person may be you.

Call today to make a donation for new Dialysis
Machines at PMH, no amount is too small.
Thelma Rolle 325-0048 or Sean D. Moore 502-2394

Cononcile

Kloome (ineans Kotex.



%
PAGE 8, FRIDAY, JUNE 22, 2007

THE TRIBUNE





Second class graduates from Lyford Cay

FIFTEEN students became
only the second-ever graduating
class from Lyford Cay Interna-
tional School.

The students were honoured
at a graduation ceremony held at
the Sandal’s Resort where Col-
lege of the Bahamas president,
Mrs Janyne Hodder, was the spe-
cial guest speaker.

Principal Dr Paul Lieblich said:
“This is a momentous occasion
for our seniors and a great accom-
plishment for the entire school.
The graduation ceremony signi-
fies the latest achievement in the
development of the school, which
has progressed extensively over
the last five years.

“We're only the second-ever
graduating class to come out of
Lyford Cay,” remarked LCIS
valedictorian Georgette Stubbs.
“It’s a really great honour.”

Georgette, along with six other
students, is a candidate for the
prestigious International Bac-
calaureate Diploma.

Lyford Cay International
School is the only school in the
Caribbean offering the full range
of International Baccalaureate
programmes.

The Graduates:

Christian BARRIOS

Is Canadian-Mexican. He has
been a student at LCIS since 2004.
He is a full IB Diploma candidate
taking: English Al, Spanish B,
mathematical studies, information
technology in a global society,
biology, chemistry, theory of
knowledge plus completing an
extended essay in ITGS.

Christian has an acceptance at
Brock University in Canada

San dals Royal Bahamian Resort &
Offshore Island

Invite application for the position of:

OPERATIONS MANAGER

University degree in Hotel Management
Must have at least 10 years as a Senior
Manager or similar position

Experience at a 4 or 5 diamond Hotel
Proficiency in several foreign languages

would be an asset

Strong communication skills oral and

written

Willing to work long hours
Strong organizational and leadership

skills

Competitive compensation package
commensurate with relevant
experience and qualifications.

Send resumes: email to

cmajor

srb.sandals.com or

Fax -242-327-6961

Pinder's Funeral Home

“Service Beyond Measure’

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

RANNIE PINDER President
FUNERAL SERVICE FOR THE LATE

Mrs. Elsie Joanne Griffin 47

of The Current, North
Eleuthera, will be held at
the Current Methodist
Church on Saturday June
23rd, 2007 at 11:00 a.m.
Burial will be in the
Public Cemetery. Dr.
Reginald W. Eldon,
secretary tO: the
Conference, Rev. Carlos
A. Thompson, Rev. James
D. Neilly, and Rev.
William R. Higgs
officiating.

where he will study computers
and video game design. His ambi-
tion is to pursue a career in video
gaming.

Unsurprisingly, his favourite
subject at school is ITGS. He

hopes to travel the world after .

he graduates and to work in dif-
ferent countries.

Alexa BERNAL

Is an American. She has been a
student at LCIS since 2004. She is a
full IB Diploma candidate taking:
English Al, Spanish Ab Initio,
mathematical studies, information
technology in a global society, biol-
ogy, visual arts, theory of knowl-
edge plus completing an extended
essay in English. Alexa has an
acceptance at the Pre-Veterinary
Medicine School at the University
of Miami. Her ambition is to open
an animal clinic in Nassau. Her
favourite subject was ITGS because
she says it was the easiest for her.
The best piece of advice she ever
got was “just do it and don’t let
anything stand in your way.”

Anastacia BETHEL

Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at Acadia University in Cana-
da to study international banking
with foreign investments com-
bined with foreign languages
(Spanish and French).

Her ambition is to be multi-lin-
gual and use that for her career
and travel the world. Her
favourite subjects include Eng-
lish, Spanish and the visual arts;
she got a lot of care and support
from her teachers and these sub-
jects gave her the freedom to
demonstrate both creativity and
individuality.

Lauren CAMPBELL

Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at the State University of New
York Maritime where she will
study to obtain the 3rd mate’s
licence in engineering. She wants
to be the best female maritime
engineer in the Bahamas and in
the future she wants to make a
mark on the international mar-
itime industry.

Addington COX

Is a Bahamian. He has been a
student at LCIS since 2000 when
he started in Grade 6. He is a IB
Certificate candidate. He took IB
examinations in: English Al,
Spanish Ab Initio, mathematical
studies, history, biology, and
chemistry. He will attend the Uni-
versity of the West Indies in Bar-
bados to study meteorology. His
dream is to be a successful per-
son and contribute in a positive
way to Bahamian society. His

favourite subject at school was

biology because he found it very
interesting and he hopes to pursue
further courses at college in the
future.







@ VALEDICTORIAN Georgette Stubbs receives her certificate
from Michelle Cove, chairman of LCIS Board and Dr Paul

Lieblich, LCIS principal

Keenan EHRHART

Is an American. He has been a
student at LCIS since 2005. He is
an IB Certificate candidate. He
took IB examinations in: English
Al, Spanish B, mathematical
studies, history, biology, and visu-
al arts. His favourite subject at
school was history both for the
fascination he has for it and the
inspiration he got from his
teacher. He has acceptance at
Ozark Technical Community Col-
lege in Missouri. Initially, he will
study general courses and then he
wants to major in drama and cre-
ative writing. His ambitions
include getting a teaching degree,
start a band and become a famous
musician.

Katia HAMMERER vie

Is French. She has been a stu-
dent at LCIS since 2003. She is a
IB Certificate student. She took
IB examinations in: English B,
Spanish B, French B, and visual
arts. She is going to pursue on-
line courses to study pet grooming
and training as well as develop
her skills in graphic art by taking
additional courses. Her ambition
is to open up her own business
that specialises in pet grooming.

Meaghan HOLOWESKO

Is Bahamian-American. She
came to LCIS in Grade 2 in 1996!
She is an IB Certificate student.
She took IB examinations in: Eng-
lish Al, Spanish Ab Initio, biolo-
gy, mathematical studies and visu-
al arts. Her favourite subject is
art as she enjoyed it immensely
and was inspired by her great
teacher. Meaghan’s plans for next
year are to take courses both in
the culinary arts in London and
New York as well as courses in
the visual arts. She hopes to run a
marathon in five years time.

Gregory MUNNINGS

Is a Bahamian. He has been a
student at LCIS since 1994 — 13
years! He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, histo-
ry, biology and chemistry. His
favourite subject was English for
the engaging and effective way it
was taught. Gregory has been
accepted at the University of
Tampa to study marine science
and marine zoology. His ambition
is work with marine animals and
to be close to water. He is proud
of the fact that he has kept two

Card of Fi banks For Tho Rate

"Pompi" | Mackey
Dediitiber 21, 1939 - “May 1%

Elsie's memory will be cherished forever by her
husband, AI; daughter, Audra; son, Eric; mother,
Ivy; son-in-law, Lester; grandsons, Kristian and
DeNiro; sisters, Dianne and Janice; brothers, Reg,
Geoffrey and Gary; sisters-in-law, Lolly, Jeannie,
Irma, Carol, Madge, Barbara and Joanne; brothers-
in-law, Kingsley, Johnnie and David; godchildren,
Chrystal, Halle and Kyle; nieces, Tammy, Maria,
Lynn; Heather, Dorian, Rochelle, Heather, Rachel,
Cheyenne, Tina, Kelly, Charlotte, Nicole, Alexis,

Kila, Brandi and Madison; nephews, Gary, Roger,
Ron, Jordan, Alan, Damian, Raven, Frankie,

Alexander, Apollo, Brady, Tyler, Lorenzo, Tushar;
Evan, Brian and Christopher, special friend, Melissa;
aunts, Geraldine, Rowena, Alice, Dot, Rosalee and
Dorian; uncle, Carl and a host of other relatives and
friends especially, Gloria, Janet and Reginald Eldon,
Osbourn and Shirley Weech, Janet Donahue, Berlene
Elden, Sue and Raymond Martin, Audrey and Steve
Symonette, Bernadette Collins, Margaret Albury,
Gayle Colebrooke, Denise Newbold, Rev. Carlos
Thompson and family, Nurse Dan and the entire
community of The Current.

In lieu of flowers donations may be made to the
Cancer Society of the Bahamas P.O. Box SS-6539
in memory of Elsie Griffin.



No more smiles and sappy chim i
No more talking of times, only Flashbacks o
onderful years we shared, You were always there to
comfort us through our joys and teats.
We thank you for contributing to our lives,

You were a loving husband, father, grandfather,
brother, uncle and friend. We Will never forget you,
Pompi; Sleep on in the arms of Jesus, and take your

sweet rest until we meet again.

Special thanks to; Rev'd Dr. Keith A Russell and the
Fellowship Union Baptist Church family, Rev'd Dr.
Fred Newchurch and the Central Church of God

family, Deacon Fred & Mrs. Ramsey, Freeport Gospel

Chapel Church family, Mount Carey Baptist Church
family, Members o Parliament, Zhivargo Laing,
Minister of State, Kenneth Russell, Minister of
Housing, Kwasi Thompson, Deputy Speaker, Senator
Pleasant Bridgewater, Senator Frederick McAlpine,
Doctors & Nurses at the Emergency and Male

Surgical ward, Rand Memorial Hospital, Management
& Staff at the Westin & Sheraton, Our Lucaya Resort,

Management & Staff at Advance Cable, Coral
Springs, Florida, Mr. & Mrs. Alex Pratt, Mr. & Mrs.
Henry Thurston, Mr. & Mrs. Nelson Knowles, Mr. C.
A. Smith & Family, Mr. & Mrs. Prince Smith &
family, Management & Staff of former Princess
Casino, Management & Staff of Oasis, The Gaming
Board, Freeport Container, Royal Bahamas Police
Force, Grand Bahama.

God Bless You All.

"Sylvia Mackey & Family"



(Photo: Tim Aylen)

friends, one from Korea and
another from Canada, for a long
time. To him that also represents
internationalism.

Jenny Sella

Is Italian. She has been at LCIS
for one year and started in
August, 2006. She already com-
pleted high school in Monaco,
France. She came to the LCIS to
improve her English linguistic
skills. Jenny is an IB certificate
student. She took IB examina-
tions in English B, French B and
Spanish B. She also took other
regular high school courses. She
plans to go to an Italian universi-
ty to pursue a course in transla-
tion. Her future plans include
working as an interpreter at the
_European Union. Jenny says that
while in the Bahamas she has
learnt to be patient and enjoy the
Bahamian breakfasts!

Jonathan Shiel-Rolle

Is Bahamian. He has been a
student at LCIS since 1996. He
started in Grade 2. He is a full IB
Diploma candidate taking: Eng-
lish A1, Spanish Ab Initio, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in music. Jonathan has been
accepted at Lynn University, Boca
Raton, Florida, USA. He hopes to
play soccer professionally. As he
says, “Soccer is my life.”

Georgette STUBBS (Valedic-
torian)

Is Bahamian. She has been a
student at LCIS since 1994 — she
started in kindergarten. She is a
full IB Diploma candidate taking:
English Al, Spanish B, mathe-
matical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in the visual arts. Her favourite
subject at school was art. She will

. be attending the University of

Western Ontario, Canada, and
will study business administration
and management studies. Her
ambitions include getting a mas- ~
ter’s degree, continuing with her
passion for art and eventually’
starting her own business.

Philipp STUBBS

Is Bahamian. He has been a
student at LCIS since January,
2001. He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, infor-
mation technology in a global
society, biology, and chemistry.
He enjoyed his English classes the
most because they were fun.
Philip plans to work and earn
some money over the coming year
and then he plans to study engi-
neering.

Lourdes
(Salutatorian)

‘Is Mexican. She has been a stu-
dent at LCIS since her Grade 6 - ©
for the past seven years. She is a
full IB Diploma candidate taking:
English B, Spanish Al, mathe-
matical studies, history, biology,
visual arts, theory of knowledge
plus completing an extended essay
in Spanish. Her favourite subjects
included art and English because
of the passion and interest that
her teachers exhibited. Lourdes
has been accepted at Cesar Ritz
Colleges in Switzerland, which
specialises in hospitality, tourism
and management. She wants to
continue to study and be the best
person that she can be.

‘Indira VIDALES

Is Peruvian. She has been a stu-
dent at LCIS since 2004. She is
an IB Certificate student. She
took IB examinations in: English
B, Spanish Al, mathematical
studies and biology. Indira’s
favourite subjects were Spanish
and math. She is going to pursue a
course in paralegal studies at Mia-
mi Dade College. Her ambition
is to follow a legal career.

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FRIDAY EVENING JUNE 22, 2007.
‘ 7:30 8:00 8:30 9:00 9:30 10:00 | 10:30 ©

NETWORK CHANNELS
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THE TRIBUNE



Healthcare
model for
proposed
NHI scheme
‘is in decay’
FROM page one

from, Canada's was the wrong
choice.

Continuing with the plan as
recommended by the Blue
Ribbon Commission (BRC)
will have far reaching detri-
mental effects on our wealth
and health, he claimed.

Canadians, according to reli-
able indicators, are not "get-
ting what they paid for," said
the economist, and neither
would the Bahamas.

Considering the high cost of
the Canadian scheme com-
pared to those in other
nations, it is notable for its
"mediocre" health services
access, outcomes, and increas-
ing waiting lists.

The economist, who said he
had "read fearfully" the
BRC's report, produced sets of
comparative data from inter-
national organisations evi-
dencing Canada's poor perfor-
mance on the global stage.

In all of its provinces,
healthcare expenditure over-
took total revenue between
1997 and 2005, and access was
greatly varied, noted Dr Walk-
er. Ultimately, unsavoury pos-
sibilities such as further reduc-
tions in access to healthcare,
worsening quality of care or
increased taxes would be the
only means of avoiding a black
hole of debt from spiraling
costs under the present system,
he said.

Despite the huge amount of
funds expended, Canada
ranked worst for the likeli-
hood of a patient being able to
see a doctor on the same or
following day.

"Actual versus reasonable"
waiting times — that is, the
amount of time Canadian's
have to wait to see a specialist,
in contrast to the amount of
time they can reasonably do so
without their health being
impinged upon, have become
increasingly disparate, he said.

It ranks 24 out of 28 interna-
tionally for access to physi-
cians, 13 out of 24 for access to
MRI, 17 out of 28 for access to
CT scans, and 18 out of a pos-
sible 20 for access to liphotrip-
tors. Considering its costliness,
indicators including infant
mortality, death from disease
and breast cancer mortality
rates leave much to be desired.

Significantly, said Dr Walk-
er, Canada holds the unique
position of being the only
OECD country with exclusive-
ly public sector funded health-
care, "effectively outlawing
parallel private healthcare."

It is the lack of this competi-
tive element, which the BRC's
report proposes to copy, that
has primarily contributed to
the failings of Canada's'sys-
tem.

The economist pointed to
the fact that the Supreme
Court of Canada recently ~~
ruled that this aspect of the
system — which bars people
from paying privately for
healthcare procedures covered
under Medicare — is in fact
unconstitutional given that the
public system has failed to
guarantee patients access to
those services in a timely man-
ner.

He expressed surprise the
BRC's report made no men-
tion of any of the numerous
studies evidencing the failings
of the Canadian system, and
questioned whether they had
reviewed the data available.

Several suggestions were
made as to what a less haz-
ardous Bahamian NHI scheme
could look like. Generally,
these involved leaving out cer-
tain problematic provisions
seen in Canada, and bringing
in elements found in less costly
European and Australian
healthcare models, including
user fees, co-payments and
parallel private healthcare.

The economist said of the
commission: "I think they just
don't realise what they're
proposing," adding that the
Bahamian public need to be
aware of the proposed model's
deficiencies.

Deteriorating policy has
plagued the Bahamas since the
1970s, said Dr Walker.

The decline in "policy quali-
ty", which the implementation
of the NHI scheme as suggest-
ed by the BRC would be
another example, is showing
up in lower average incomes
and lower growth rates.



and Tommy Turnquest (right)

LOCAL NEWS

B® PRIME MINISTER Hubert Ingraham arrives back in the Bahamas yesterday, flanked by Cabinet ministers Carl Bethel (left)

FRIDAY, Juin bane hem y uU/, PAGE 11

rel eri challenges PLP to ‘bring it o

(BIS Photo: Tim Aylen)

FROM page one

trate Bethel yesterday
accused of abetment to
Armbrister’s murder.
According to court dock-
ets, on June 12 he is
accused of aiding and
abetting in the commit-
ment of Armbrister’s mur-
der. He was not required
to enter a plea to the
charge. Both men were
represented yesterday by
lawyer Carlson Shurland
from Freeport.

Pair in court

Police reportedly
arrested both men on
Monday at an apartment
complex in Freeport.

They were also charged
yesterday with possession
of eight grams of marijua-
na. Court dockets claim
that the men were found
in possession of the drugs
on Monday, June 18, while
at Grand Bahama.

They both pleaded not
guilty to the charge. The

case was adjourned to
November 8.

Mr Shurland first made
a request to the court for
witness statements
and other relevant docu-
ments.

He then inquired
whether the murder case
could proceed by volun-
tary bill of indictment,
meaning that the case
would go directly to the
Supreme Court.

June 28 is the date which
has been set for a report

Gas price rises to $4.87 a gallon

FROM page one

price of oil from the Bahamas’ main provider.
“It would be wrong of me to stand here as the
Minister and predict the pricing of petroleum
products, because I do not know what they will
be in the foreseeable future. I price it based
upon the imported price at the time, and it is
dependent on the inventories held locally, when
relief will be seen by the Bahamian public,” he

said.

However, some relief may be in sight for the
future, as Mr Neymour explained, because once
the current inventories of Shell, Esso, and Tex-

2007

aco are exhausted, a new price will come into
effect. Whether that price is higher, or lower, is

exporters.

CALIBER

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

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

Front Air Bags
Air Conditioning
Radio/CD Player

still to be seen.

External events, such as the continued conflict
in Nigeria, Iran’s uranium enrichment pro-
gramme, and anti-American comments from
Venezuelan President Hugo Chavez continue to
worry analysts over the future prices of oil.

Yesterday, the market saw a drop in the price
of oil despite the concern over a general strike
in Nigeria that prompted concern that oil mar-
kets might see an upset or possible disruption to
supplies from one of the world’s top oil

$28,785.00

racer onsenanaeaeeg as

from the prosecution on
that matter. Both men

‘were remanded to Her

Majesty’s Prison.

uy





FROM page one -

co City, Blue Hills and Pinewood.

The party is protesting primar-
ily on the basis that large num-
bers of non-citizens may have vot-
ed, while Bahamians, who were
eligible to vote, were unfairly
barred from the polls.

Philip Davis, Damian Gomez
and Wayne Munroe head the
PLP’s legal team in the chal-
lenges.



Sentence
FROM page one

landmark ruling in March
2006 against the Bahama’s |
mandatory death penalty,
those who were previously |
sentenced to death are being |
re-sentenced. Earlier this |
week the definition of the
term “life imprisonment” as
it relates to Bahamian law
was called into question |
when lawyers representing
murder convict Forrester
Bowe who had his death-
sentence commuted last
year, appeared in the Court
of Appeal.



{



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wonder how you ever got a



\


PAGE 12, FRIDAY, JUNE 22, 2007












































WATS Sci. >

Your look at what’s going on in your community

TAKING advantage of the
visit to Nassau of Rodrigo
Echenique, corporate director
of Santander and member of
the executive committee and
Jose Manuel Maceda, general
manager of Santander Private
Banking, Santander Bank and
Trust held a cultural reception
to celebrate Santander’s 150th
anniversary.

The event, held at the Nation-
al Art Gallery, was attended by
Zhivargo Laing, Minister of
State in the Ministry of Finance,
Wendy Craig, governor of the
Central Bank of the Bahamas,
Michael Foot, inspector of
banks and trust companies,
Wendy Warren, CEO and exec-
utive director of the Bahamas
Financial Services Board along
with other dignitaries, manage-
ment and staff of the bank.

The Bahamas National Youth
Choir performed a medley of
songs and received a standing
ovation.

Jose Gonzalez de Castejon,
managing director of Santander
Bank and Trust Ltd, welcomed
guests.

He then introduced Rodrigo
Echenique, director and mem-
ber of the executive committee
of Banco Santander Central
Hispano, SA, and Jose Manuel
Maceda, general manager of
Santander Private Banking.

Mr Maceda highlighted the
importance of the 150th


























summer i

em

. the,lslands, OfThe, Bahamas,

June 8th - July 29th 2007
Presents



\

rejler)
SIT COlO





Dy



@ STAFF of Santander Bank and Trust at the reception

_ anniversary of Santander and

THE TRIBUNE

Ee A eee
nassau Santander celebrates
its 150th anniversary ©



gave a brief history of the bank
and its recent performance.

As part of the celebrations,
an employee exchange pro-
gramme has been initiated
enabling an employee from
each country where the bank
has a presence will be assigned
to another location where he
will be exposed to a new cul-
ture and experience.

Mr Marc Robinson has been
selected to represent Santander
Bahamas and will spend 30 days
at the bank’s offices at San-
tander City in Madrid, Spain.

Mr Maceda said Santander has
the greatest number of branches
in the world, numbering 10,800
with over 130,000 employees.

He told local employees that,
as part of the 150th anniversary
celebrations, Santander planned
to give every employee world-
wide a gift of shares in Banco
Santander.

This gift would be ratified at
the general meeting of share-
holders in mid-June, 2007.

Mr Laing congratulated San-
tander on its anniversary, cele-
brating its presence in the coun-
try and reaffirming the govern-
ment’s commitment to the
financial services sector.

Guests and staff were then
invited to tour the Bahamas
National Art Gallery and enjoy
a cocktail party on the Gallery’s
balcony.



@ MICHAEL Foot, Inspector of Banks and Trust Companies,

and Pablo Rodriguez Muller, vice-president and legal and
compliance manager, touring the Art Gallery



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FRIDAY, JUNE 22, 2007

SECTION

business@tribunemedia.net

_The Tribune _



BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street



Brain drain ‘even more
profound’ if NHI created
* Economist warns PLP’s proposed 5.3% contribution rate would have become ‘the most significant tax you will pay in the Bahamas’

* Questions whether Bahamian economy could have supported PLP scheme, as per capita income growth and economy ‘stagnating’
== Bahamian policymaking ‘deteriorating’ and ‘going in ae wrong direction’

@ By NEIL HARTNELL
Tribune Business Editor

he former PLP
government’s pro-
posed National
Health Insurance
(NHJ plan would
have made the ‘brain drain’ of
the most talented, highly-edu-
cated Bahamians “even more
profound”, a leading healthcare

specialist warned yesterday. He-
' said the scheme’s 5.3 per cent

contribution rate would have
acted as an income tax and pro-



yesterday.

downtown Nassau.

from the new Freedom class.

per cent.

tourists and $9.338 million in
visitor spending based on



Cruise ship loss
shows need for
downtown revamp

i By CARA BRENNEN- BETHEL
Tribune Business Reporter

THE recent decision by Royal Caribbean Cruise lines to

redeploy three of its vessels to other destinations is a further
indication of the immediate need for the transformation of
downtown Nassau and Prince George’s Wharf, the Nassau _ |
Tourism and Development Board’s (NTDB) chairman said

Charles Klonaris told Tribune Business that there was no
question that much had to be done to ensure there was a
quality environment for tourists and cruise passengers in

He added that in particular, Nassau’s current port facilities
had to be expanded if the Bahamas was to attract a viable
number of cruise passengers into Nassau.

Royal Caribbean removed the Bahamas from its itinerary
because it had decided to replace the three vessels with the
larger Freedom of the.Seas and Liberty of the Seas ships

- Yet due to their greater size, these ships are unable to nav-
igate in Nassau and other Bahamian harbours,

According to the Ministry of Tourism the Voyager of the
Seas accounted for 1.4 per cent of total cruise visitors; the Nav-
igator of the Seas 2.8 per cent; and the Explorer of the Seas 1.5

The Bahamas will therefore lose 5.7 per cent of its total per |
annum cruise passenger visitors, representing some 166,756



2005 figures, when Royal | SEE as 6

vided a disincentive for the
Bahamas’ attempts to attract
human capital.

Dr Michael Walker, a fellow
of the Canada-based Fraser
Institute, and a healthcare eco-
nomics specialist, warned that
the global competition for
human and financial capital
resources was intense, and that
both these factors of produc-
tion gravitated to areas where
taxation was relatively low.

He explained that if the
Bahamas imposed too heavy a

_tax burden through the pro-








































‘Sinister’ NHI plan
would eliminate
private health care

@ By NEIL HARTNELL
Tribune Business Editor

THE “most sinister” part of |

the former PLP’s proposed
National Health Insurance
(NHI) plan was that it paved
the way for eliminating private
healthcare provision in the
Bahamas, a leading healthcare
economist warned yesterday,
describing the scheme as a
“Trojan Horse” that was based
on the “mythology” that it
could provide comprehensive,
equal healthcare for all.

In a presentation to a seminar
organised by the Nassau Insti-
tute and Atlas Economic
Research Foundation, Dr
Michael Walker, a fellow at the
Canada-based Fraser Institute,
expressed surprise that while
the former government’s NHI
scheme appeared to be based
on the Canadian healthcare
model, there were no references
to the numerous critical stud-
ies on that country’s weakness-
es in the report submitted to
the Government by its Blue
Ribbon Commission. That
report provided the foundation
for the PLP’s NHI scheme.

Dr Walker said there had
been “not one peep, not one
toddle, not one mention in the
report” by the Blue Ribbon
Commission of the deep-rooted
problems the Canadian health-
care model was now experienc-
ing.

Criticising the former admin-
istration’s promises of compre-
hensive, universal healthcare
for all as being untenable, Dr
Walker told the seminar: “You
cannot afford in the Bahamas,
Canada or anywhere else to say
that everyone will get the same
quality of healthcare that will
be universally applied, and with-

-out any limitations. You can’t

do it.”

Adding that hard choices had
to be made in regard to a coun-
try’s healthcare policies, Dr
Walker added: “The pretence
that is laid out in the Blue Rib-
bon Commisson’s report is that
we could give this universal cov-
erage to everyone. It is a
mythology.”

The Commission’s recom-
mendation that the NHI plan

SEE page 9

posed NHI scheme, in its efforts
to solve healthcare access and

funding issues through income .

redistribution, the most highly-
educated Bahamians - already
restricted by the lack of job

diversity in this nation - were |

likely to remain overseas after
graduating.

Dr Walker warned that the
PLP’s proposed NHI scheme,
which planned to split the 5.3
per cent contribution evenly
between employer and salaried
worker, meaning each paid a
sum equivalent to 2.65 per cent

of the employee’s salary, was

likely “to produce short-term
gains at the expense of long-
term losses”.

The long-term loss, he
explained, would be to under-
mine the Bahamas’ long-term
economic competitiveness and
growth, especially if contribu-
tion rates increased to meet the
increased cost of healthcare and
demand from an ageing popu-
lation.

“It will become the most sig-
nificant tax you will pay in the
Bahamas, and make it more dif-

ficult for you to attract human
capital,”. Dr Walker said.

He added that young
Bahamians did not have to
remain in this nation to seek a
living, and were “not getting the
kind of opportunities they
should get in the Bahamas”
anyway. The imposition of the
NHI’s income tax would act as a
further disincentive for them to
return home after graduating,
depriving the Bahamas of its
brightest and best.

“This kind of tax will make
that exodus even more pro-

found,” Dz Walker warned, As
a result, the Bahamas had to be
“very careful” about the policy
choices it made in regard to
healthcare, because financing
this area could end up domi-
nating budgets and public poli-
cy, especially if the contribution
rates rose.

It is unclear what the new
FNM administration’s position
is on-the former government’s
NHI scheme is, given that it has

SEE page 2

Customs urged to crack down
on Freeport bond goods ‘fraud’

@ By NEIL HARTNELL
. Tribune Business Editor

THE Grand Bahama Chamber of Com-
merce’s president yesterday urged the Cus-
toms Department to go after the small
minority of Grand Bahama Port Authority
(GBPA) licencees that abused Freeport’s
bonded goods system, rather than seek to
implement “blanket” policy changes. that
have no foundation in law and only disrupt
legitimate business.

Speaking in the wake of the Home Cen-
tre’s legal victory over the Customs Depart-
ment, which prevented the latter from
demanding that the Freeport-based retailer
and wholesaler pay $738,644 in duties up-
front on its inventory, Christopher Lowe
urged the government agency to go after
real offenders rather than arbitrarily change

and implement policies that.ran afoul of

the courts and the Hawksbill Creek Agree-
ment.

“There is fraudulent use of the bonded
system by a small minoroity of unscrupulous
licensees, there is no question,” Mr Lowe
told The Tribune. “But the Customs Man-
agement Act gives Customs the powers to
pursue fraud where fraud exists.

“They love these blanket policies and
not having to point fingers. But none of
this is provided for in law.

“They have the power to to go after fraud
and prosecute it, but to my knowledge
they’ve never prosecuted anyone for fraud
with respect to the bond.”

Mr Lowe added: “That there is fraud
occurring with the bond, and with respect to
bonded goods ending up outside Freeport in
places like Nassau, there is no question.
But the Customs Management Act pro-
vides the meat where Customs can go after
the perpetrator.”

The Customs Department suffered its
latest defeat in relation to the Hawksbill
Creek Agreement and bonded goods at the

hands of the Home Centre, a subisdiary of
BISX-listed Freeport Concrete, via the
Supreme Court verdict.

‘The company had been forced to obtain

an injunction against Customs to prevent = +
. it prohibiting or interfering with the new

Home Centre superstore’s opening, and
the display. of bonded goods (products
that are duty exempt) at ‘retail’ - the issue
at the very heart of the case.

The Customs Department objected to
this arrangement, saying that because
these bonded goods were on display at
retail and in view of the public, they could
no longer be classified as duty-exempt

’ stock. As a pre-condition for the Home

Centre opening, the Customs Department
demanded the $738,644 duty payment and
allegedly locked up some of the store’s
containers, refusing to inspect and clear

SEE page 9

the ones you leave behind?

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PAGE 2B, FRIDAY, JUNE 22, 2007

THE TRIBUNE



Dar eS ane

Finding the market for your e-business

hether you are

selling a product

or service, your

marketing plan
will be crucial to the success of
your eBusiness. Without an
effective marketing plan you
won’t be able to successfully
promote your product. It’s no
good having the best mousetrap
if no one is using it.

Your plan will look very sim-
ilar to a traditional offline plan,
as outlined in a previous col-
umn. Copy the format for your
eBusiness. It will, however, be
different in two ways:

First, the scope will be differ-
ent. The plan will be concerned
with getting quality traffic to
your site, so that you can either
build a list capturing your visi-
tor’s name and e-mail, or better
still, getting them to purchase
a product through a back-end
or front-end offer. ,

Second, the execution will be
different. It will cover three
areas instead of the one for
bricks and mortar businesses.

The first area is the same and
concerns your Offline Activi-
ties. Use traditional means of
promoting your website offline
though advertising, public rela-
tions, direct marketing and sales
promotion. These should be
familiar to you if you have fol-
lowed my previous columns on
marketing.

The second area concerns
Traffic Building Activities.
There are many ways that you
can build quality traffic to your
website, and these are dealt

with in a future column.

The third area concerns Traf-
fic Conversion Activities. There
are many ways in which you can
convert that traffic into prof-
itable business, and these are
dealt with in a future column.

Ultimately, your marketing
plan will seek to answer three
questions:

1. Where are you now?

2. Where do you want to go?

3. How are you going to get
there?

In trying to answer those
three questions, you will need to
incorporate the following five
processes when you create your
marketing plan, if you want
your marketing plan to bé of
any use to you.

The first process is Disci-
plined Research. You will need
to research and analyse your
product or service to see what
use it is to your customers. You
will need to analyse the price
to make sure you can make a
profit on every sale. You will
need to research your market
to make sure there is enough
business for you. You will need
to research your customer to
know who they are and why
they want tg buy. And you will
need to research your promo-
tional tools to get the best bang
for your buck.

The second process is Effec-
tive Strategy. Your plan should
be strategic and should also out-
line the steps you are going to
take to execute that strategy. It

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and managing alternative portfolios for our clients

has been our core business for over ten years.

SYZ & CO Bank & Trust Ltd.





% ! Business
*: Sense

#

. 3 By Mark Palmer

should mirror your company’s
strategic goals outlined in your
business plan. It should distil
what is and isn’t working, and it
should consider your compa-
ny’s capacity and resources to
meet its objectives.

The third process is Effective
Budgeting. Make sure you
apply financial figures to your
marketing plan: Otherwise it
will just be a dream.

The fourth process is Effec-
tive Benchmarking. Your plan
should ultimately be measur-
able, with benchmarks, other-
wise you won’t know whether
you have been successful or not.
Make sure you set smart tar-
gets that are capable of being
measured.

The final process is to have
Clear Timelines For Execution.
Without clear timelines, your
plan will just flounder on the
sea without a compass. Make
sure you monitor timelines.

Once you have thought
through the above exercises,
you will be ready to write down
your eMarketing Plan. Nothing
exposes a bad idea better than

. writing it down, so make sure

you do it soon. Jay Conrad
Levinson, a guerilla marketing
specialist, gives 12 tips for the
perfect eMarketing plan.

Tip 1: Show Commitment -
Commitment with a mediocre
plan will always be superior to
lack of commitment with a
superior plan.

Tip 2: Make An Investment -
See marketing as an investment,
not an expense.

Tip 3: Be Consistent - Don’t
keep changing your marketing,
the media, or your identity, as
this will make it harder for
people to trust you.

Tip 4: Inspire Confidence -
Confidence is the number one
reason why people buy.

Tip 5: Be Patient - All good
things take time to come to
fruition.

Tip 6: Use An Assortment -
Try and use a combination of
marketing tools from the wide
array at your disposal to woo
your customers.

Tip 7: Be Convenient - Time
is money, so make it easy for
customers to buy from your
business.

Tip 8: Subsequent Market-
ing — Marketing starts when
you make a sale, so encourage
your visitors to make repeat
purchases.

Tip 9: Create Amazement -
Make sure your plan highlights
all the amazing benefits that
your company offers.

Caer aaa nlc)

re lee

Ls EG

Prccraatim ated care

Bayside Executive Park | West Bay Street & Blake Road | P.0. Box N-1089 | Nassau - Bahamas
Contact: Miquel Gonzalez | Tel. +1 242 327 66 33

Member of the SYZ & CO Group: Geneva | Zurich | Lugano | Locarno | London | Luxembourg | Milan | Rome | Salzburg | Nassau | Hong Kong



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Tip 10: Measurement -
Unless you measure your mar-
keting efforts, you won’t know
what works and what doesn’t.

Tip 11: Involvement - Make
sure you respond quickly to
your customers.

Tip 12: Be Dependent -
Cooperate with other business-
es by building partnerships that
benefit both parties.

eMarketing is a relatively new
discipline, and there is much to
learn. Start by using a tradi-
tional marketing plan template
and expand the scope as
described above. Don’t be an
antipreneur. Make sure that you

°

+e 4

oe 6

spend sufficient time on this
area, as it will pay large divi- .
dends for your future business ,
SUCCESS, *

NB: This column is available '
as an eBook at.
www.antipreneurship.com.
Mark draws on 20 years of top -
level business, marketing and -
communications experience in ~
London and the Bahamas. He is
chief operating officer of
www.ezpzemail.com, currently '
lives in Nassau, and can be con- ,
tacted at
markalexpalmer@mac.com

© Mark Palmer. All rights
reserved

Brain drain ‘even
more profound’
if NHI created

not made a definitive state-
ment on the issue.

It is thought likely that the
FNM will move away from
the PLP’s so-called universal, comprehensive NHI plan to
focus, initially at least, on catastrophic health insurance (it was
working on this in 2001-2002 when the former Ingraham
government demitted office) and educating the public on
health and safety issues. Only when this has been accom-
plished will they look at broadening the benefits down the
line.

Yet Dr Walker yesterday questioned whether the Bahamas
was on a sound enough economic footing to support the
launch of the proposed PLP NHI scheme, pointing out that to
sustain such a scheme financiall, the economy and per capi-
ta income needed to be growing.

This, he suggested, was not the case. Dr Walker said that
between 1970-1985, average per capita income in the Bahamas
grew at arate of 1.27 per cent. Yet between 1985-2000, this
growth rate fell to an average of 0.06 per cent, indicating
that per capita income rises had become stagnant.

“This is something you should be concerned about,” Dr
Walker said. “When countries look at allocating more
resources to areas such as healthcare and education for your
population, you can’t afford it unless you have economic
growth.”

Lower economic growth and per capita income rates were
bad news for the Bahamas, Dr Walker suggested, as nations
who were relatively less wealthy also tended to start seeing
deteriorations in general health, given the correlation between
‘wealth and health spénding.

FROM page 1

Dr Walker said the Fraser Institute’s annual survey of eco-

nomic freedom, assessing 94 per cent of the world’s countries
and governments on 38 different policy measures, showed pol-
icymaking in the Bahamas had been headed “in the wrong
direction” since 1975.

In 1975, Dr Walker said, the Bahamas was ranked among
the top 20 countries in the world when it came to economic
policymaking, standing alongside the likes of the US, Cana-
da, Hong Kong, Singapore and Iceland, but ever since “pol-
icy deteriorated”.

“Mostly, it’s in the wrong direction. Policy is going in the
wrong direction, and that’s a bad [sign] for the future,” he
added.

Countries that made bad public polict decisions had lower
levels of economic growth, per capita income and human
development, higher infant mortality and lower life expectan-
cy, Dr Walker said.

“The quality of policy really matters, and really matters for
the Bahamas,” he added. Dr Walker said that in 1970, the
Bahamas ranked in the world’s top 20 when it came to real
per capita income, but today had fallen to around 30th posi-
tion.

“This is not a trend you want to feel comfortable about,” Dr
Walker said. “This is a trend that sets off alarm bells, as you
do not want to fall behind the rest of the world.”

Dr Walker said the Bahamas still ranked in the top 20 for
size of government, even though this was becoming more
uncompetitive, and was rated highly on regulation.

“Where the Bahamas has really shone is in the protection
of property rights and the rule of law. The Bahamas is an
example to other countries on how over a period of time it has
implemented the law and property rights,” Dr Walker said.

Where the Bahamas did not score well was on exchange
controls, which limited the free movement of capital, and
its high tariff and customs duties barriers on trade.

“Trade is where you get very bad marks. That’s a real
issue for your country going forward,” Dr Walker said.

Ricardo

SINCE 1859

roferw

oer.
t's MY rune







|
|


[BUSINESS

~ Che Miami Herald |

Aw

‘. advances.





THE MARKETS

STOCKS, MUTUAL FUNDS, 8B
DOW30 13,545.84 +56.42. Ad
S&P 500 1,522.19 +9.35 4%
NASDAQ 2,616.96 +17.00 4%
5 a
10-YRNOTE 5.20 +06 4d
CRUDE «= 865 wt WW

Market
upbeat
on oil,
economy
report

BY TIM PARADIS
Associated Press

NEW YORK — Stocks
lurched higher after a back-and-

forth session Thursday as inves-
tors apparently set aside some
interest rate concerns and took

a dose of upbeat economic data -

at face value.
_ The Philadelphia Federal

Reserve said regional manufac- —

turing in June has had its stron-
gest growth since April 2005.
The bank’s index of regional
manufacturing activity jumped
to 18 from 4.2 in May. But the
report had little effect on the
market although investors have
been wary about any signs of
_ economic strength that might
‘lead the Federal Reserve to
raise interest rates when its
_ Open Market Committee meets
“next week. :
Investors, looking for a rea- »

son to buy back into the market, _

briefly pushed away their rate
concerns, even though the yield*
on the benchmark 10-year Trea-_
sury rose to 5.20 percent from
5.15 late Wednesday.
Oil, which had advanced

> > amid concerns about a general
-" strike in Nigeria, Africa’s largest

crude oil producer, reversed
course Thursday. Light, sweet
crude fell 21 cents’to $68.65 per
Farrel on the New York Mer-
cantile Exchange after nearing

_ $70 early Thursday.

The Dow Jones industrial
average rose 56.42, or 0.42 per-
cent, to 13,545.84 after dropping
146 points Wednesday.

- Broader stock indicators also

-. rose. The Standard & Poor’s 500
’ index rose 9.35, or 0.62 percent,

to 1,522.19 and the Nasdaq com-
posite index advanced 17.00, or
_ 0.65 percent, to 2,616.96.

The dollar was mixed agajnst
other major currencies, while
gold prices fell.

Recent weeks have proven
relatively volatile on Wall
Street after months-long peri-
ods of generally steady

Comments this
month from Fed Chairman Ben
Bernanke and inflation con-
cerns furthered the notion that
“the central bank wasn’t likely to
cut interest rates this year as
some observers had predicted
and could possibly even raise
rates.

Also Thursday, the American
Stock Exchange resumed trad-
ing of stocks and exchange
traded funds in the afternoon
after the exchange resolved
technical problems that had
forced it to halt trading earlier
in the day.

Andersons, an ethanol and
grain producer, rose $5.10, or 13
percent, to $45.50 after the com-

. pany raised its full-year profit

forecast following a strong sec-
ond-quarter performance from
its agricultural businesses. The
company also began producing
ethanol from a second plant and
has seen better-than-expected
margins.

Advancing issues outpaced
decliners by about 9 to 7 on the
NYSE, where consolidated vol-
ume came to 3.10 billion shares,
down from 3.22 billion Wednes-
day.

The Russell 2000 index of
‘smaller companies rose 3.63, or
0.43 percent, to 839.8L

Overseas, Japan’s Nikkei
stock average closed up
0.16 percent. Britain’s FTSE 100
fell 0.80 percent, Germany’s
DAX index fell 1.55 percent, and
France’s CAC-40 lost 1.04 per-
cent.



FRIDAY, JUNE 22, 2007

SUPREME COURT

Investors dealt setback

BY PETE YOST
Associated Press

WASHINGTON — Investors who
already had lost money on their
stocks lost again at the Supreme
Court Thursday when the justices
imposed a strict standard for share-
holders suing companies accused of
fraud.

The 8-1 opinion written by Justice
Ruth Bader Ginsburg makes it easier
for companies and business execu-
tives to seek dismissal of investor
lawsuits at the very start of a case.

A lawsuit will proceed only if the

_ facts alleged in it are “cogent and

compelling” in pointing to an intent
to deceive investors, Ginsburg wrote.
Those factual allegations must be at
least as compelling as “any opposing
inference” suggesting innocence, she
added.

Plaintiffs attorneys said almost all

|
i
|
|
|
{
t



BY JOE BEL BRUNO
Associated Press : :
NEW YORK — Blackstone
Group on Thursday raised $4.13 bil-
lion in the biggest U.S. initial public
| offering in five years, a sign of the
| growing power of private equity
| firms in global finance.
The New York-based buyout
shop, which controls names like
| Universal Studios Florida and real
| estate powerhouse Equity Office
Properties Trust, will list on the
| New York Stock Exchange on Fri-
| day morning. The sale values each
| share at $31 and the entire firm at
| around $33 billion.
| For Blackstone’s founders —
| who launched the private equity
firm in 1985 with a $400,000 invest-
ment — the IPO will mean a big
| payout. Chief Executive Stephen
| Schwarzman will walk away with a
| stake in the company worth about
| $7.7 billion, putting him among the
richest of the rich on Wall Street.

“Blackstone is like any dominant
player in a maturing industry, they
are successful because they have a
great management team,” said
Peter Shabecoff, founding partner
of Stamford, Conn.-based private
equity firm Atlantic Street Capital
Management. “And now they have
the scope and brand name to be
successful, and that’s what people
are buying into.”

The big appeal of the IPO was
that it gave investors a chance to
participate in the booming private
equity industry, where firms buy
companies, turn them around, and
seek to sell them at a profit. And
investor appetite was strong to buy
a part of Blackstone, even though
the stake in its management busi-
ness has little voting power or any
direct connection to its portfolio of
companies.

cases already meet the standard the
court adopted.

And investors “can breathe a sigh
of relief’ that the justices did not
embrace a more stringent rule
favored by Justices Antonin Scalia
and Samuel Alito in a concurring
opinion, said attorney Barbara J. Hart,
who represents institutional inves-
tors in major securities fraud cases.

Class-action lawsuits against pub-
lic companies have helped sharehold-
ers recover billions of dollars follow-
ing the wave of corporate scandals.
The corporate world is pushing regu-
lators to roll back some safeguards
put in place following those scandals,
which brought down companies such
as Enron and WorldCom.

Thursday’s ruling came in a share-
holders suit against high-tech com-
pany Tellabs.

The firm misled investors by

STOCK SALE

INTERNATIONAL EDITION

engaging in a scheme to inflate Tel-
labs’ stock price from December
2000 to June 2001, according to the
lawsuit.

It said the company’s CEO pro-
vided false assurances of robust
demand for the company’s products.

The business community says the
Tellabs case is the kind of meritless
investors’ claim that Congress
intended to prohibit when it changed
securities law 12 years ago.

Under the 1995 changes, a securi-
ties fraud complaint must allege facts
giving rise to a “strong inference”
that defendants acted with an intent
to deceive investors.

The 7th U.S. Circuit Court of
Appeals had ruled against Tellabs,
saying the complaint should go for-

ward if a reasonable person could .

infer from the allegations that defen-
dants’ conduct was intentionally







PHELAN M. EBENHACK/AP FILE, 2006

| UNIVERSAL INFLUENCE: A pair of stiltwalkers dressed in ancient Egyptian costumes entertain tourists
at Universal Studios Florida theme park in Orlando, Fla., which is controlled by Blackstone Group.
Blackstone announced Thursday the price of its IPO, making it one of the largest in U.S. history.

Blackstone IPO stirs
demand, raises $4B



= ps
as
LENNY IGNELZI/ AP FILE, 2007

OWNED BY BLACKSTONE: Workers put the finishing touches ona
reproduction of the Luxor Hotel at Legoland in Carlsbad, Calif.

The strength of the sale was
despite a last-minute attempt by
two powerful members of Con-
gress to have securities regulators
block the deal.

Analysts had been monitoring
the IPO’s pricing throughout
Thursday, which was said to be
many times oversubscribed. There
was some speculation that the
interest from investors around the
globe would cause Blackstone to
raise the price beyond its original
range of $29 to $31.

However, the underwriters on
the deal might have been cautious
about the IPO amid growing scru-
tiny on Capitol Hill. The deal was
criticized for the huge payout it will
provide top executives, leading to
attempts by lawmakers to change
the tax status of Blackstone and
similar firms.

The firm acknowledged Thurs-
day that it could face much higher
taxes as early as next year if it was
taxed as a corporation, as a new bill



in the U.S. House of Representa-
tives proposes to do.

Meanwhile, Reps. Dennis Kucin-
ich of Ohio and Henry Waxman of
California asked the Securities and
Exchange Commission late Thurs-
day to delay the offering, though
their requests apparently went
unanswered.

Blackstone reaffirmed in a regu-
latory filing Thursday that taxing
the firm as a financial company at a
35 percent rate would cause its
earnings to falter. The buyout shop,
like other partnerships, is taxed at a,
15 percent rate.

That came on top of a previous
warning from Blackstone that com-
pensation and other costs related to
going public would cause it to not
be profitable for years.

But, analysts contend investing
in the IPO has more to do with buy-
ing into Blackstone’s cache — espe-
cially as rivals like Kohlberg Kravis
Roberts & Co. and.Carlyle Group
are considering flotations.

in fraud cases

deceptive.

The justices sent the case back so
that the lower courts can assess
whether the lawsuit should stand.

The way the court of appeals ruled
in the Tellabs case “is the way law-
yers have been looking at complaints
for 50 years, and that’s to give all
plausible inferences to the plaintiff
and virtually never to dismiss a com-
plaint,” said Washington attorney
Carter Phillips. ,

“What the Supreme Court has
done now is made it clear that most
securities claims ought not withstand
a motion to dismiss,” said Phillips,
who represented Tellabs in the
Supreme Court case.

That view is “ridiculous,”
responded Hart, the plaintiffs attor-
ney. “The defense bar is totally over-
stating the ramifications of this deci-
sion,” said Hart.

GERMANY

WTO
trade
talks fail

again.

BY BRADLEY S. KLAPPER
Associated Press

POTSDAM, Germany — A crucial
meeting of the World Trade Organi-
zation’s four most powerful members
has failed, officials said Thursday,
dealing a major setback to efforts at

reaching, a.new global commerce...

Dae Se ND aia mains eer eee
“~“Ttwas useless to continue the dis-"»

cussions based on the numbers that »."..’°

were on the table,” Brazilian Foreign
Minister Celso Amorim said after the
talks ended two days ahead of sched-
ule.

Brazil and India criticized the
United States for its failure to offer
deep enough cuts in the billions of
dollars of subsidies it pays annually
to U.S. farmers.

The European Union and the
United States said the two emerging
economic powers refused to offer
new market opportunities for manu-
facturing exports. Brussels and

Washington added, however, that

they were pleased with each other for
showing flexibility.

“Trade agreements should gener-
ate new trade and lift people out of
poverty,” U.S. Trade Representative
Susan Schwab said. “Unfortunately,
what we have here today was not
going to generate new trade.”

The White House said President
Bush was disappointed that an oppor-
tunity to expand trade had been
blocked.

“Large economies like Brazil and
India should not stand in the way of
progress for smaller, poor developing
nations,” deputy press secretary
Tony Fratto said.

The global talks known as the
Doha round aim to add billions of
dollars to the world economy and
help poorer countries developing
their economies through new trade
flows. But negotiations have strug-
gled since their inception six years
ago in Qatar’s capital, largely because
of wrangling between rich and poor
countries over eliminating barriers to
agricultural trade. ‘

EU Trade Commissioner Peter
Mandelson said the failure of the
talks in Potsdam, “places a very
major question mark over the ability
of the wider membership of the
WTO to complete this round.”

Indian Trade Minister Kamal Nath
blamed U.S. unwillingness to cut its
farm subsidies as the reason for the
collapse of the talks.

“There is no equity in this. There
is no logic. There is no fairness,” he
said.

U.S. Agriculture Secretary Mike
Johanns said the U.S. had offered
“real cuts” that would force Wash-
ington to make changes in its farm
policy.

Offers by India and Brazil, he said,
were “so far away, so lacking in any
market access, it just literally cast a
chill over all the discussions all
week.”

“T could have done cartwheels off
the roof of this building, and I’m not
sure I would have gotten any
response whatsoever,” Johanns
added.

ae ee


THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e JAPAN



NG HAN GUAN/AP FILE

PROMISE MAKER: Sony Chairman Howard Stringer, right,
poses with Chinese students during an event held in
Beijing on Oct. 30. Stringer promised Thursday to
shift the struggling electronics giant. from recovery to

growth.

Chairman promises
change of fortunes

From Herald Wire Services

TOKYO '— Sony (SNE) Chairman Howard Stringer
promised Thursday to shift the struggling electronics giant
from recovery to growth and to make the PlayStation 3 a
profit driver despite its bungled rollout.

But investors at the company’s annual shareholder meet-
ing in Tokyo remained skeptical of an imminent turnaround,
pressing Stringer for a clear'strategy on how he intended to
recoup losses at its video games unit and catch up to rivals

like Apple (AAPL) in portable music players.

“We will shift Sony from recovery to profitable growth,”
Stringer told about 7,000 shareholders gathered in Tokyo,
saying Sony’s integrated and global approach to electronics,
games and entertainment made it a “dominant company” in

the digital age.

Pressed by shareholders at the meeting, Stringer said that
Sony — maker of the iconic Walkman — would not repeat its
blunders in ceding dominance in the portable music player

market to Apple’s iPod.

e GENERAL ELECTRIC

GE ABANDONS BID TO
BUY FINANCIAL TIMES

NEW YORK — General ,

Electric (GE) said Thurs- -
day it has abandoned talks
with Financial Times pub-
lisher Pearson about.a pos-
sible bid for Dow Jones &
Co. (DJ), removing a poten-
tial rival to a $5 billion offer
from Rupert Murdoch’s
News Corp.

GE said it held “explor-
atory discussions” with Lon-
don-based Pearson about
combining GE’s CNBC busi-
ness news cable channel,
Pearson’s Financial Times
newspaper and Dow Jones,
which publishes The Wall
Street Journal, Barron’s and
Dow Jones Newswires, but
decided not to proceed.

Murdoch has offered $60
ashare for Dow Jones, a rich
premium of about 65 per-
cent over the levels that

__ Dow Jones shares had been
trading prior to the offer
becoming public in early
May. Many on Wall Street
believe the price is too high
to be matched.

e FRANCE

AIR SHOW SWELLS
AIRBUS ORDER BOOK

PARIS — A raft of orders
at the Paris Air Show this
week has boosted Airbus’
fortunes and handed the
European planemaker back
the lead in overall airplane
sales bookings for 2007 from
rival Boeing (BA) — at
least so far.

Airbus landed dozens of
new orders Thursday from
Asia and Latin America for
its narrow-bodied A320 and
its A330 models, following a
string of other deals
unveiled at the industry’s
premier gathering at Le
Bourget.

Thursday’s sales brought
Airbus to at least 600 firm
orders for the year so far,
including some 400 firm
orders this week.

Boeing has booked a total
of 510 firm orders during
2007, according to an update
on the company’s Web site
Thursday.

» demand in Europe and Asia.

e GERMANY

VW CAR SALES
RISE 7.6 PERCENT

FRANKFURT — Volks-
wagen, Europe’s biggest
automaker by sales, said
Thursday that its new car
sales rose 7.6 percent in the -
first five months of the year
to 2.5 million amid rising

The Wolfsburg-based
company said sales of its
VW-branded cars rose 7.1
percent to 1.5 million in the
January-May period versus
a year ago, while commer-
cial vehicle sales rose 9 per-
cent to 191,000.

e H&R BLOCK

MORTGAGE UNIT
SUFFERS LOSSES

KANSAS CITY, Mo. —
Trouble in H&R Block’s
(HRB) subprime lending
unit led the company Thurs-
day to report fourth-quarter
and full-year losses.

For the three months
ended April 30, the Kansas
City-based company said it
lost $85.5 million, or 26 cents
per share, compared with
earnings of $587.5 million, or
$1.79, a year earlier.

For the year, the com- |
pany said it lost $433.6 mil-
lion, or $1.34 per share, com-
pared with earnings of
$490.4 million, or $1.49 per
share, during the previous
year.

e ITALY

ALITALIA HAS BID
DEADLINE EXTENDED

ROME — The Italian
government announced
Thursday that it has
extended by 10 days the
deadline for final bids to
acquire a controlling stake
in Alitalia, exposing a diffi-
cult bidding period for the
struggling airline.

The government, which
is seeking a private investor
to buy at least a 39.9 percent
stake in Alitalia but is pre- ,
pared to sell its entire 49.9
percent stake, set anew
deadline of July 12.

It did not give a reason in
the statement.



LATE TRADING

6:35 p.m.

Stock Tkr. close

4 ig 6:35 p.m. Late
close

volume

Stock

Tkr.

wee

close

Late
Chg. volume



Kraft KFT
TimeWarn TWX
GenElec GE
CVSCare CVS
SPDR SPY
Altria s MO
iShR2K nya IWM
eBay
Pfizer PFE
Cisco 27.32
PwShs QQQ QQQQ 47.74
UAL UAUA 39.35
US Bancrp USB 33.80

36.74
21.51
38.80
37.12
151.98
68.58
83.49
31.13
25.92

36.74
21.51
38.80
37.12
151.87
68.58
83.50
31.13
25.96
27.32
47.12
39.38
33,80

Chg.

-11
+.01
+.04

-.02
+.03

240040
96901
76020
70310
66225
55605
46138
45226
41008
39893
30606
25374
25284

FordM
Citzcomm
Microsoft
Staples
BlockHR
PeabdyE
FMCG ,
Medtrnic
CMGI
Intel
Sycmstr
EMC Cp

F
CZN
MSFT
SPLS
HRB
BIU
FCX
MOT
CMGI
INTC
SVM
EMC

8.91

15.26
30.22
24.97
22.04
49.58
83.30
51.79
1.94

24.29
15.50
17.99

8.95

15.23
30.24
24.86
22.04
49.58
83.30
51.79
1.95

24.43
15.50
17.99

+.04
.03

+.02

-11

+01
+14

25261
24547
21028
19224
16200
16046
14112
13928
13841
13266
12680
12333



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



EUROPEAN UNION

Cyprus, Malta receive OK to use euro,

BY AOIFE WHITE
Associated Press

BRUSSELS, Belgium —
European Union leaders gave
Cyprus and Malta the go-
ahead Thursday to join the
euro currency zone in January.

Final approval will come
from EU finance ministers on
July 10, bringing the number of
countries using the currency
to 15.

Cyprus and Malta will bring
just over 1 million people to
the 318 million who now use
the euro. Their economies
account for only 0.2 percent of
eurozone GDP.

One area of concern over
Cyprus was what might hap-
pen if the Greek Cypriot part
of the island reunites with the
breakaway northern Turkish
Cypriot republic.

EU officials insist that let-
ting Cyprus into the euro zone
is purely an economic issue.
Formal documents barely
mention northern Cyprus
beyond a minor reference in a
European Central Bank report
that predicts subsiantial costs
to develop the Turkish Cyp-
riot: part after the island is
reunified.

As things stand, only the
Greek Cypriot state is recog-

ECONOMY

Group foresees modest growth |

BY CANDICE CHOI
Associated Press

NEW YORK — The USS.
economy should expand mod-
estly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed on
Thursday.

The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 percent in May,
boosted by rising stock prices,
higher consumer expectations

and the availability of jobs. ~~

Economists: said that jobs

should continue to be plenti-,

ful, despite an unexpected
surge in jobless claims last
week. ‘

The Labor Department
reported Thursday that unem-
ployment claims totaled
324,000 last week, up 10,000
from the previous week, to the
highest level since mid-April.

While the big increase was
unexpected, analysts said it
did not change their view that
the labor market remains
hardy. Even with the increase,
analysts noted claims remain
close to their average —
319,000 — over the first 5 ',
months of the year.

While the overall U.S. econ-
omy grew at a lackluster
0.6 percent in the first three
months of this year, many ana-
lysts believe the pace has
picked up significantly in the
spring.

The Conference Board’s
upbeat report shows that the
impact of the housing slump
has been fairly contained so
far, said Patrick Newport, an
economist with Global Insight.

“It just hasn’t spilled over
to the rest of the economy,” he
said.

It also indicates the econ-
omy is doing better than last
month’s leading indicators
report suggested, Newport
said.

May’s increase reversed a

v

EUROPE



INTERNATIONAL EDITION

a
GERARD CERLES/AFP-GETTY IMAGES

IN BRUSSELS: Cyprus’ President Tassos Papadopoulos
gives a press conference at a European summit.

nized by the European Union
and will adopt the euro, leav-
ing the Turkish lira as the cur-
rency in the northern part of
the island.

EU Economic and Mone-
tary Affairs Commissioner
Joaquin Almunia has warned
the Turkish Cypriots against
using the euro despite not
being part of the euro zone —
as non-EU members Montene-
gro and Andorra do.

Cypriot President Tassos
Papadopoulos said the island’s
two economies had diverged
significantly since his country
joined the EU in May 2004. He
praised the sacrifices his peo-
ple have made to bring
Cyprus’ budget deficit, public
deficit and inflation under EU
limits, particularly unions that
accepted a two-year pay
freeze.

“How can you have one



__ FRIDAY, JUNE 22, 2007 | 4B

state without one unified”.
economy?” he said. “For three

years now, we have been fol-

lowing an austerity budget the

other side would be free to,-.
borrow.” ae

Papadopoulos said he
expected prices to be rounded
downward, saying that the
Cypriot pound was currently
at a high level against the euro.
Supermarkets had already
agreed to cut prices by at least
1 percent and others busi-
nesses should follow suit, he
said.

Cyprus joined the EU in
2004, a month after Greek
Cypriots voted against a
United Nations plan that
would have led to reunifica-
tion. Turkish Cypriots voted
in favor of the plan.

Larger EU newcomers —

Poland, Hungary, the Czech .°

Republic, Romania and Bul-.’

garia — have yet to set a date
for their entry into the euro
zone.

Estonia had originally -
planned to join next year but is *
likely to delay that as its grow-
ing economy sees inflation
surge, a problem that has also
slowed Latvian and Lithuanian .

plans. Slovakia is scheduled to . °

join in 2009.



DAVID ZALUE .Â¥ 'SKI/AP

GROWTH POSSIBLE: A recent report suggests the U.S. economy will experience moaast. ~.
growth in the coming months, a possible sign that consumers are shrugging off th>. -!--
weak housing market. Above, a potential buyer looks over a row of BMWs in Denver. >. |

revised 0.3 percent drop in
April, down from the original
0.5 percent decline that econo-
mists blamed on soaring gas

has gone up 0.3 percent.

Wall Street is fairly confi-
dent that falling home prices
and rising mortgage defaults

has raised worries about rising
inflation, however.

On Tuesday, the Com-.'
merce Department said con--.

prices-and a drop in building—won’t damage the—broader— struction of new homes fell in—

permits.

The report, designed to
forecast economic activity
over the next three to six
months, tracks 10 economic
indicators.

The advancing contributors
in May, starting with the larg-
est, were weekly unemploy-
ment insurance claims, stock
prices, building permits, con-
sumer expectations and ven-
dor performance.

The negative contributors,
beginning with the largest,
were real money supply, aver-
age weekly manufacturing
hours and interest rate spread.

With the latest report, the
cumulative change in the
index over the past six months

economy. Treasury Secretary
Henry Paulson said Wednes-
day the housing slump is near-
ing an end, and that the losses
so far have been contained.

But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refi-
nance. If that happens, the res-
idential real estate market’s
troubles could snowball and
dampen consumer spending.

The Federal Reserve’s
Open Market Committee,
which sets short-term interest
rates, meets next week and is
widely expected to leave rates
unchanged as they have been
for about a year.

A pickup in the economy

May as the nation’s home
builders were battered by the
crisis in subprime lending and
rising mortgage rates. Industry
sentiment about the housing
market fell in June to the low-
est point in more than 16 years.

Secondary effects from the
housing downturn like layoffs
and restrained. consumer
spending could also start sur-
facing, said Aaron Smith, an
economist with Moody’s
Economy.com. But the overall
drag on the economy from the
housing industry should
decline in coming months, he
said.

“Building permits cannot.
continue declining at the pace
they have,” Smith said.

EU widens probe to all search engines

BY AOIFE WHITE
Associated Press

BRUSSELS, Belgium — A
European Union probe trig-
gered by concerns over how
long Google stores user infor-
mation has widened to include
all of the Internet search
engines.

The EU’s panel of national
data protection officers said
it’s now concerned over the
retention of data that the com-
panies use to deliver more rel-
evant search results and
advertising. Some fear the data
could be targeted by hackers
and governments.

“The Working Party will
deal with search engines in
general and scrutinize their
activities from a data-protec-
tion point of view, because

The EU's panel of national data protection
officers said it’s now concerned over the
retention of data that the companies use to
deliver more relevant search results and

advertising.

this issue affects an ever-
growing number of users,” it
said in a statement released on
Thursday.

Trying to soothe EU con-
cerns, Google this month
offered to cut the time it
retains data on user searches
from the current 24 months to
18 months, saying this was
going further than most other
search engines. After that,
identifying information is
removed.

It insists that its retention
policies comply with EU data
privacy rules.

The 28-member panel,
which advises the European
Commission and EU govern-
ments on data protection
issues, said it still needed to
analyze Google’s response and
would also look at other
search engines in the coming
weeks to evaluate what data
protection issues were at
stake.

It also has asked Google to, ‘ .

answer questions on the spe-. ~
cific use of technologies used
by Google and other websites
to collect insights about what
sites people visit.

The EU investigation into
Google comes amid growing
concerns over the Mountain. ‘
View, Calif.-based company’s’
privacy practices.

London-based Privacy
International has rated Google
the worst among the Internet’s
top destinations on privacy.

The watchdog said it was
particularly troubled by Goo-
gle’s ability to match data
gathered by its search engine
with information collected

from other services such as. °.
e-mail, instant messaging and -

maps.

RRB SRST a a
ya



crise

THE TRIBUNE



Major
law firm
to open

Abaco

office

HIGGS & Johnson, the
Bahamian law firm, will
open its third satellite office
in the Family Islands on
Monday, June 25, when it
opens its doors in Abaco.

The office, which will be
Higgs & Johnson’s fourth,
will provide a wide range of
services, and focus on Aba-
co’s independent wealth
management ' niche,
increased real estate and
mortgage financing demand,
trusts, estate planning and
litigation.

John Delaney, Higgs &
Johnson’s managing partner,

said in a statement: “For.

many years we have been
building and strengthening
our business relationships on
the island, and are excited
by the opportunities pre-
sented by the growing appeal
of Abaco. Establishing a per-
manent presence here is the
latest stage in our strategy
to expand our network of

“services throughout the

Bahamas.”

Bahamians
urged to seek
alternative
finance plans

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

ahamians were yes-
terday urged to look
to aiternative
sources of funding
for investments, and seek out
new entrepreneurial opportu-
nities to create wealth through
industries such as tourism.

James Shikwati, founder and
director of the Inter Region
Economic Network (IREN)
Nairobi, a guest speakers at a
one-day conference hosted by
the Nassau Institute, told 77ri-
bune Busines, that Bahamian
entrepreneurs should not be
held back simply because they
feel there is no money available
to finance them.

“One of the philosophies |
have is that the human mind is
capital, not money, because you
can have millions of dollars, but
if you do not have the idea then
you don’t need the money,” Mr
Shikwati said. “So the first place
where you need to invest heav-
ily is in getting the right idea.
If you have the right idea, |
believe strongly the money will
follow.”

Mr Shikwati said future
entrepreneurs need to look
beyond traditional methods of
funding for their ventures. He
added that in his country, rather
than go to financial institutions,
many young people engage
their peers and create invest-
ment funds. This has had such

success that Kenya’s banks are
doing much less business and
aggressively soliciting clients.

“This can grow money into.a
good idea. First of all thinking,
rational thinking, is important,
emotions aside,” Mr Shikwati
added

He said that business ideas
had to be thoroughly thought
out to determine their feasibili-
ty and practicality.

Mr Shikwati added that
Bahamians need to ask them-
selves: “Hhow can we better
our situation, because the Gov-
ernment may be acting out of
emotion. Maybe there are thou-
sands of Bahamas who are lob-
bying the Government, and if
you look at things from a ratio-
nal perspective, you might get
more jobs if they allowed more
competition and people com-
ing in to get new ideas and cre-
ate new business ideas.”

He noted that while the
Bahamas waqs_ primarily
tourism-dependent, people
needed to look at spin-offs from
the industry to create new busi-
ness. “People come for the
beaches, and so maybe some-
one could say: ‘Why can’t we
create music as part of our
tourism sector, so people can
say why don’t we go to the
Bahamas for the music,” Mr
Shikwati said.

“You can think about that
and how you want to create
your own unique product,
which can make people come
specifically for that product. I
am a firm believer in good



ideas.”

Mr Shikwati is an African
economist and commentator on
policy. During his presentation,

‘he explained that citizens in any

country have to turn problems
into opportunities, and oppor-
tunities into wealth, which is the
only way a country can advance.

“If you are hungry, it is you
who is hungry and need food,
not the country. To them, you
may be just astatistic, if you are
sick then it is you who is sick,”
he said, explaining that some-
times business has to be the dri-
ving force behind technology
and infrastructure.

Often, Mr Shikwati said that
what is initially perceived to be
a problem can be something
turned into a financially benefi-
cial and nation-building solu-
tion. For instance, he said in
Africa, there was a huge malar-
ia problem. He said that rather
than waiting for the government
to address the problem, there
are many opportunities for
entrepreneurs to create fumi-
gation businesses, which not
only helps mitigate the prob-
lem, but create jobs.

“If you have 10 billion mos-
quitos and you can find a way to
put a price on killing a billion of
them, then think of the eco-
nomic possibilities,” Mr Shik-
wati said.

IREN is a non-profit, inde-
pendent public policy research
and educational organisation
which promotes free trade as

the. solution to poverty in|

Africa.









June, 2007.

ZONES.

MINISTRY OF WORKS & TRANSPORT

KNOWLES CONSTRUCTION AND DEVELOPMENT

MILO bu ik nuiGHWAY -_
EXTENSION TO CARMICHAEL ROAD
IMPROVEMENT PROJECT

IMPORTANT PUBLIC SERVICE
ANNOUNCEMENT

The Ministry of Works & Transport and Knowles
Construction & Development Company Ltd wish to
inform the public that the road improvement works on
Milo Butler Highway from Tonique Williams-Darling
Highway to Carmichael Road will commence on 2 25

The Public is advised to observe the construction signs
pointing out the temporary traffic management.
Please drive with care and caution in the construction

We apologise for any inconvenience whilst we endeavour
to improve the road network in New Providence,

FRIDAY, JUNE 22, 2007, PAGE 5B













































ee
Sacred Priesthood of the
Venerable Archdeacon

The Parish Chueh St:
Lyford Cay, New Provi

Sunday, 24th J

TSE MEH

will be closed on
FRIDAY, 22"! JUNE, 2007
due to the observance

oy wet firm’s annual
ml i. DAY”

We regret any

inconvenience caused

&

COMPANY LTD.






PAGE 6B, FRIDAY, JUNE 22, 2007

THE TRIBUNE

See OE eee

Innovation hit by
court ‘throughput’

Legal Notice

NOTICE

ASMA COMPANY LTD.

NOTICE IS HEREBY GIVEN as follows:

(a) ASMA COMPANY LTD. 1s in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the
21st June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Verduro

Associated Ltd., Pasea Estate, Road Town, Tortola,
B.V.I.

Dated this 22nd day of June, A.D. 2007

Verduro Associated Ltd.
Liquidator

Legal Notice

NOTICE

RAKAN INTERNATIONAL.
COMPANY LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) RAKAN INTERNATIONAL COMPANY LIMITED
is in voluntary dissolution under the provisions of
Section 137 (4) of the International Business
Companies Act 2000.

(b) The dissolution of the said company commenced on the
20th June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said company 1s Verduro

Associated Ltd., Pasea Estate, Road Town, Tortola,
B.V.L

Dated this 22nd day of June, A.D. 2007

.

Verduro Associated Ltd.
Liquidator

Please be advised that the
following offices will be closed
on Friday, June 22, 2007 and

will re-open on Monday, June 25
2007 at the usual business hours.



Bahamas First General Insurance
Company Limited

Nassau Underwriters Agency Ltd
Moseley Burnside Insurance Agency Ltd.

Legal Notice

NOTICE

OLDFIELD MANAGEMENT LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on

the. 19th day of June 2007. The Liquidator is Argosa |
Corp. Inc., PRO.Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

CASLON S.A.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 19th day of June 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



@ By NEIL HARTNELL
Tribune Business Editor

he relatively slow
“throughput” of cas-
es through the
Bahamian court sys-
tem acts as a major barrier to
developing an innovative eco-
nomic environment in this
nation, a leading consultant said
yesterday, as he urged the coun-
try to focus on ‘reverse plan-
ning’ whereby it sought out
higher-paying customers first
before exploiting its.natural
assets.
Michael Fairbanks, founder

. of the Boston-based OFT (On

the Frontier) Group, a strate-
gy consulting firm, told a con-
ference organised by the Nassau
Institute that long-term the
Bahamian tourism industry
could not just compete on its
natural assets of sun, sand and
sea.

He added that the Bahamas
was “over dependent” on its
natural advantages, which
included proximity to the US,
and its competitive position in
tourism was being eroded



NOTICE

because the sun, sand and sea
qualities were enjoyed by
numerous other nations.

“Assets are important, but
you can’t let assets dictate your
strategy because that’s what
everyone else is doing,” Mr
Fairbanks said. ,

When countries and compa-
nies enjoyed the same compet-
itive positioning as everyone
else, they inevitably ended up
competing on price, he
explained. To remain price
competitive, countries, compa-
nies and industries inevitably
sought to cut costs, chiefly wage
bills, which had wide social and
economic ramifications and led
to societies becoming poorer
even though they might export
more, as had happened with
Jamaica’s bauxite industry.

Rather than focus on asset
exploitation in the first instance,
Mr Fairbanks suggested that the
Bahamas and its businesses first
identify high-paying, wealthy
customers who were prepared
to pay a high price for the ser-
vices or goods this nation would
sell.

The next step was to con-















NOTICE is hereby given that ANNE-MARIE ZORINA
BRAITHWAITE OF #7 EISENHOWER CLOSE, WINTON
HEIGHTS, P.O. BOX EE-16969, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
22ND day of JUNE, 2007 to the Minister responsible for
Nationality and Citizenship, PRO.Box N-7147, Nassau, Bahamas.

struct the operations that would
provide these services or goods,
with the final step being to
exploit the Bahamas’ natural
assets.

The Bahamas had to look at
“the next thing”, as having been
the first Caribbean nation to
push into tourism and financial
services some 60 years ago, oth-
er countries were now adopt-
ing and emulating the same
ideas.

“This country can go down-
hill if it does not make informed
strategies and make timely deci-
sions to boost its competitive-
ness,” Mr Fairbanks said.

He added that the major role
the Government played in the
Bahamas, as master economic
strategist and owner of signifi-
cant utilities and infrastructure,
was “the big problem in the
Bahamas”.

Mr Fairbanks said the Gov-
ernment had a “partial role, but
significant role” to play in cre-
ating a platform from which
Bahamian companies could be
competitive, but it must not
interfere with competition and
adopt protectionist measures.

He identified a major prob-
lem in the Bahamas as being
the speed with which the courts
dealt with legal cases, joking:
“You start a case now, and
maybe your grandchildren
would finish it.”

“If there’s one thing that pro-
motes an innovativ environ-
ment, it’s the rule of law,” Mr
Fairbanks said. “If you don’t
have that, you’re not going to
innovate your way out of any-
thing.”

Protection of tangible and
intangible property rights, and
dealing with legal cases speedi-
ly and fairly, were key, Mr Fair-
banks said.

He added that in one year,
30,000 international patents
were granted to companies in
California, some 3,000 to IBM
alone, yet Brazil, the seventh
or eighth largest economy in the
world and equivalent to Cali-
fornia’s in size; just granted 93.

This, Mr Fairbanks said, was
because the Brazilian court sys-
tem was not giving enough pro-
tection to patents, so no com-
panies. wee going public with .
their ideas.

Cruise ship loss shows need for downtown revamp

FROM page 1

Caribbean Cruise Lines rede-
ploys three of its vessels to oth-
er destinations.

Obviously, said Mr Klonaris,
this will be a loss that will be
felt, which was why it was vital
that there be in place a quality
product that will keep visitors
coming to the Bahamas.

He added that he felt that
once a newly-improved port
was in place, it would be impor-
tant that there be activities and
experiences to sustain large
numbers of passengers coming

off these “mega ships”, which
in some cases are carrying
2,000-3,000 people. ;

Therefore, if several ships
came in at once, downtown
Nassau could be flooded with
visitors.

Mr Klonaris said he did not
think that this would be a prob-
lem, but added that other chal-
lenges included keeping the city
safe, clean and crime free.

He said the NTDB was work-
ing with the new administration,
and Prime Minister Ingraham
was on board with the down-
town redevelopment.






LARGE PLOTS |
LOW DOWN PAYMENTS
FINANCING BY OWNER

393-4476/359-0904



LEGAL NOTICE

- NOTICE
MIXA INVESTMENT FUND LTD.

IN VOLUNTARY LIQUIDATION




NOTICE is hereby. given that WILFRED JEAN-PIERRE OF
CABLE BEACH, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization. should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 22ND day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, PO.Box N-7147, Nassau,
Bahamas.

NOTICE |

NOTICE is hereby given that GREGORY CHRISTOPHER
NEIL of #84 PORT NEW PROVIDENCE, 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 15th day of
June, 2007 to the Minister responsible for Nationality



Notice is hereby given that in accordance with Section 137 of the
International Business Companies Act 2000 MIXA INVESTMENT
FUND LTD. is in dissolution..

The date of the Commencement of dissolution was 4th June 2007. David
Thain of Arner Bank & Trust (Bahamas) Ltd., Building 2 Caves Village,
P.O. Box N 3917 is the Liquidator of MIXA INVESTMENT FUND
LTD. All persons having claims against the above-named company are
required to send their address and particulars of their debts to the Liquidator
before the 16th July 2007.



PUBLIC NOTICE

SWIC ETIE Kee NY
of Anti-aging Medicine



all non a seminar on
Sunday, June 24th in the Conference
Room at Doctors Hospital.

DOD DEV NAM KOUTA emo elite: OMICS
Director of the MOH project,
‘Healthy Lifestyle Changes to prevent,
MMe UNO ry ae

All physicians, Health Care Professionals,
BAAM Members and interested persons of the
General Public are invited.



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

MARLEY
Resort @ Sta

Cable Beach, Nassau Bahamas

The Bahamas’ most exclusive Resort and Spa
anticipates its opening in early fall, 2007.

The resort is looking for a qualified candidate to join its
team to fill the position of:

FINANCE MANAGER

The successful candidate should hold at least a Bachelors
Degree or equivalent in Finance or Accounting with at
least three years experience in Hospitality Accounting and
Finance. The candidate should have excellent knowledge
of computer accounting systems, particularly QuickBooks
software. Duties of the position include overseeing all
financial controls of the resort including cost controls,

reconciliation and payroll.

All applications are appreciated but only qualified
individuals will be considered. Please send your application
to admin@marleyresort.com, with “Reference — Finance
Manager” or you may fax it to (242) 702-2822 no later than
June 29", 2007


THE TRIBUNE



By CANDICE CHOI
AP Business Writer



NEW YORK — The United
States economy should expand
modestly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed yesterday.

The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 per cent in May,
boosted by rising stock prices,
higher consumer expectations
and the availability of jobs.

Economists said that jobs
should continue to be plentiful,
despite an unexpected surge in
jobless claims last week.

The Labour Department
reported Thursday that unem-
ployment claims totaled 324,000
last week, up 10,000 from the
previous week, to the highest
level since mid-April.

While the big increase was
unexpected, analysts said it did
not change their view that the
labour market remains hardy.
Even with the increase, analysts
noted claims remain close to
their average — 319,000 — over
the first five and-a-half months
of the year.

While the overall US econo-
my grew at a lackluster 0.6 per
cent in the first three months
of this year, many analysts.
believe the pace has picked up
significantly in the spring.

The Conference Board’s
upbeat report shows that the
impact of the housing slump has
been fairly contained so far, said
Patrick Newport, an economist
with Global Insight.

“It just hasn’t spilled over to

. the rest of the economy,” he
said. It also indicates the econ-
omy is doing better than last
month’s leading indicators
report suggested, Newport said.

May’s increase reversed a_
revised 0.3 per cent drop in’

April, down from the original *

0.5 per cent decline that econo-
mists blamed on soaring gas
-prices and a drop in building
permits.

The report, designed to fore-
cast economic activity over the
next three to six months, tracks
10 economic indicators.

The advancing contributors

os iB





le sean

For All Life’s Roads

This strikingly handsome compact SUV
offers superb value for money.

The Captiva features advanced safety
features like an electronic stability
system and standard front airbags.

The Captiva incorporates advanced
functions like hydraulic brake assist, hill

in May, starting with the largest,
were weekly unemployment
insurance claims, stock prices,
building permits, consumer
expectations and vendor per-
formance.

The negative contributors,
beginning with the largest, were
real money supply, average
weekly manufacturing hours
and interest rate spread.

With the latest report, the
cumulative change in the index
over the past six months has
gone up 0.3 per cent.

Wall Street is fairly confident
that falling home prices and ris-
ing mortgage defaults won't
damage the broader economy.
Treasury Secretary Henry Paul-
son said Wednesday the hous-
ing slump is nearing an end and
that the losses so far have been
contained.

But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refinance.
If that happens, the residential
real estate market’s troubles

FRIDAY, JUNE 22, 2007, PAGE 7B





BUSINESS



could snowball and dampen
consumer spending.

The Federal Reserve’s Open
Market Committee, which sets
short-term interest rates, meets
next week and is widely expect-
ed to leave rates unchanged as
they have been for about a year.

A pickup in the economy has
raised worries about rising infla-
tion, however.

Stocks slipped on Thursday,
after the Philadelphia Federal
Reserve’s report on manufac-
turing activity in its region
jumped a stronger-than-expect-
ed 18 in June, up from 4.2 in
May. zi

On Tuesday, the Commerce

Department said construction
of new homes fell in May as‘the

Flat Terra Cotta Roof Tiles
7,500 sq.f. and
accessories, $19,000.00

Phone 324-6441 or
Cell 424-8299





The Captiva—Chevrolet’s first
all-new compact sport utility.

and handling characteristics in all driving
conditions. The cabin seats five, and all
seats, including the front passenger seat,
can be folded flat.

Here's what one automotive web site
had to say about the new Chevy Capitva:

The new SUV with style and versatility.

CHEVROLET CAPTIVA



descent control, active- rollover
protection, fading brake support and
trailer stabilization assist.

Strong, sophisticated and sporty,
Captiva is designed for optimum ride

"Roomy with a versatile interior,
well-made with a surprising quality
feel, comfortable on bad roads,
well-equipped...gets a four-star
rating because it's such goad value."





2, On-the-spot financing and insurance.
oh 24-month/24,000-mile factory warranty.

%

NASSAU MOTOR CO LTD
Me

fff

FREE:





@ AN unidentified buyer looks over the sticker
price on an unsold 2007 Z4 coupe in a long row of
the sports cars outside a BMW dealership in Denver
earlier this month.

(AP Photo: David Zalubowski)

Summit Insurance Co. Ltd.
3 invites applications for the post of

FINANCIAL CONTROLLER

Duties include but not limited to:

e Supervision of the Accounts Department

e Preparation of management accounts and salaries
e Preparation of annual statements for audit

¢ Liaising with auditors and other external partners

Requirements:

e Must be Computer literate

e Experience of general insurance and reinsurance
treaty accounting an advantage

e CPA or similar qualifications preferred

¢ Good analytical and communication skills

nation’s homebuilders were bat-
tered by the crisis in subprime
lending and rising mortgage
rates. Industry sentiment about
the housing market fell in June
to the lowest point in more than
16 years.

Secondary effects from the
housing downturn like layoffs
and restrained consumer spend-
ing could also start surfacing,
said Aaron Smith, an economist
with Moody’s Economy.com.
But the overall drag on the
economy from the housing
industry should decline in com-
ing months, he said.

“Building permits cannot
continue declining at the pace
they have,” Smith said.

Apply in writing with CV to:
General Manager

P.O.Box SS-19028

Nassau

Or fax to: 394-2353
Or email to info@summitbah.com

Closing date: 29th June, 2007









=}
CES

member of the QNB Group

IER





The Ansbacher Group, specialists in private banking, fiduciary services
and wealth Management has an opening in The Bahamas for the position of




SENIOR TRUST MANAGER






To profitably and effectively administer and manage client relationships
and portfolios of Trusts, Companies, Estates, Family Offices and other
related financial structures to achieve the client’s requirements and ob-
jectives while safeguarding the related assets and professional reputation
of the company within the required legal, financial and other parameters.





-The successful candidate must have the following qualifications and
experience:




> 10+ years trust experience with sound knowledge of fiduciary
products and services




’



> Relevant degree level education in business, law or accounting



> STEP designation or equivalent professional qualification




Computer proficiency in relevant software programs (Windows,
Word, Excel, PowerPoint)




) Exceptional sales, advisory and inter-personal skills




> Fluent in Spanish and proficient working knowledge of Portuguese





Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

E-mail: hrmanager@ansbacher.bs

Deadline for all applications by hand, fax or email is June 27, 2007








PAGE 8B, FRIDAY, JUNE 22, 2007

THE TRIBUNE BUSINESS











Tribune Comics



JUDGE PARKER

YOU KNOW, \ "aI THAT'S BECAUSE
ABBEY..-RACHEL )*% SHE'S SICK, NEP---
DOESN'T LOOK 4 VERY SICK!

RACHEL *
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SHE'S DYING!

WE
TALKED
ABOUT
IT LAST
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IT'S FROZEN

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(©2007 by Monn america Dyndicam, Inc. Word rights reserved.

















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I NOW NLSO NEED To UNNE
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“DENNIS, YOU WERE TOLD
‘NO YELLING, REMEMBER?” AWESOME ECHO YOU
EVER HEARD?”





TAST. BY UNWWE RSM. PRESS SYROIMTE

Dennis



1. You are declarer with the West
hand at Three Notrump, and North
leads the jack of hearts. How would
you play the hand?

West East
@AK #1072
VAKQ V84
#Q62 @KI7543
&QI1083 &92

2. You are declarer with the West
hand at Six Clubs, North having
opened the bidding as dealer with
one diamond. North leads the queen
of diamonds. How would you play
the hand?

West East
#Q3 @KI64
VAQ52 V97
o¢— A887
PAKQ9873 31062

eke

1. This is one of those cases
where, with proper play, you’re sure
to make ‘the contract regardless of
how the opponents’ cards are
divided. Win the heart and play the
queen of diamonds, not a low dia-

_mond. If the suit is divided 4-0 and

the defender with the A-10-9-8 takes
the ace, you later lead a low diamond
and play low from dummy to assure
nine tricks; if the defender with four
diamonds does not take the ace, stop
playing diamonds and attack clubs.
If both opponents follow to the dia-
mond queen and it holds the trick,



The
Target
uses
words in
the main
body of
Chambers
21st
Century
Dictionary
(1999
edition)

HOW many words of four
letters or more can you make
from the letters shown here?
In making a word, each letter
may be used once only. Each
must contain the centre letter
and there must be at least one
nine-letter word. No plurals.
TODAY’S TARGET

Good 15; very good 22;
excellent 29 (or more).
Solution tomorrow.





















“WASN'T THAT THE MosT

Test Your Play

BiGrelan

lead another diamond to dummy’s
jack. If the jack also wins, shift your
attention to clubs, forcing out the A-
K and thus making four notrump.

If you were to make the mistake of
leading a low diamond to the jack at
trick two, you might find yourself
going down if, for example, South

had the A-10-9-8 of diamonds and.

took the jack with the ace.

2. It is virtually certain that North
has the ace of spades and king of
hearts for his opening bid. It would
therefore be wrong to rely on a heart
finesse, especially when there is a
much safer method of play. _

The best approach is to start by
ruffing the queen of diamonds. It
would be wrong to play the ace from
dummy, which would force you to
make a discard from your hand
before you are ready to do so.

After drawing trumps, you next
lead the three of spades toward
dummy, placing North squarely on
the horns of a dilemma. If he goes up
with the ace, you can later discard
the Q-5-2 of hearts on the K-J of
spades and ace of diamonds. Alterna-
tively, if North ducks the spade, you
win with dummy’s jack, discard the
queen of spades on the ace of dia-
monds, lose a heart finesse to North’s
king and later trump two hearts in
dummy. Either way, you make the
slam.

adage agar agate aged

argue argued auger drag
drudge drug gate gated gear
gradate grade graded graduate
GRADUATED grate grated
great guard guarded raga

rage raged trudge trudged

trug urge urged

:
&
%





OK, THATS
HOW WE'LL’ Do
KICK OFFS.



FRIDAY
JUNE 22

ARIES —- Mar 21/Apr 20
You must take your finances more
seriously, Aries. You haven’t been
paying much attention to your cash
flow in the last few months.
Resources can deplete quickly.

TAURUS - Apr 21/May 21
Something that happened in the
past has recently come back to
bother you, Taurus. You must for-
get the situation so that you can
get on with your life.

GEMINI - May 22/Jun 21

If you do something nice for a person
close to you, you will be rewarded
ten-fold in the coming weeks. Plus,
you’ ll have the pleasure of seeing the
joy on that person’s face.

CANCER - Jun 22/Jul 22

You will gain something this week to

which you are not entitled, Cancer.

Consider giving it back, otherwise you

rp. be left with a heavy conscience
aring down on you.

LEO - Jul 23/Aug 23
Show coworkers that you are willing
to put in the hard work needed to get
through tough projects ahead, Leo.
This will be more effective than sim-
ple flattery.

VIRGO -— Aug 24/Sept 22

Be friendly to strangers, Virgo, but

also be on your guard for those who

are looking to take advantage of

your generous nature. They may.

seem like friends at first. :

LIBRA — Sept 23/Oct 23
Mending fences is something you
often consider a chore, but it’s the

f/secret to successful relationships,

Libra. Just don’t always be the one
who gives in to compromise.

SCORPIO —- Oct 24/Nov 22__.
You have to learn that the world | -
doesn’t revolve around you,
Scorpio. You are not right in
every situation. Such thinking can
hinder productivity.

SAGITTARIUS ~ Nov 23/Dec 21
You are prone to causing arguments
when they are not justified just to get
a rise from someone, Sagittarius.
This is not a healthy or friendly way
to behave.

CAPRICORN - Dec 22/Jan 20
Focus on your creativity this week,.
Capricorn. Maybe there is a project you
wanted to start or finish. Redecorating
is a good way to develop any creative
ideas that are swarming.
AQUARIUS - Jan 21/Feb 18
Don’t let the negative gossip of oth-
ers rub off on you this week,
Aquarius. Continue to be the diplo-
mat and you’ll keep your friends’
support and companionship.

PISCES — Feb 19/Mar 20
Pisces, when an important decision
arises, the answer is to try, some-
thing different rather than doing
what you always do.



LEONARD BARDEN

ACROSS DOWN
9 A fruit tree with another beside it (9) 1 Aweapons expert, is
10 Should he want changes made in angry (2,2,4)
one, declining (2,3,4) 2 Abias thatis, perhaps, only
12 Aninstinct for that’s pronounced, one right (3-9)
‘realises (4) 3 By spring run off — back to the
13 Saying it’s near, urge on (6) foreigner (8)
14 Shut up about, as anon- 4 — One's brought in support, to spanish word for
cosmopolitan (7) oppose (6) Prva 2
15 Abird- that's right. Bred 5 Loss of face for the steeplejack, now
out east (9) aminer? (4-4)
5: 17 Had levelled with on having 6 — The regular fare (6,4)
H T exceeded the dosage (9) 7 Shiftily, treads softly through, as one
18 Stuck to the point, though slips off (7) C H ESS Loh] Leo nard Barden ,
W confused by (7) 8 The relevance of money gets
0 19 Followed by the police, interwoven through it (10)
; hurried off (6) 11 Sadly, there's a Viastislav Tkachiev v Rafael ;
‘e 20 Question why you got short deficiency of (5) Sr ne isies Porcuitine:
i iri 16 Does it wind up on the beach? (6 . ¢ ge Ribose
\ : measure, being poured san (4) ice iy M! : : ach? (6) and once described his priorities
23 Given to the current editor (9) eset ly an automatic as “sea, sangria and sex”. But
N 25 Ascribe to a particular property (9) switch (3) the Kazak, who now lives in
26 Taking a break in Los Angeles, 21 Trying to find a seat? (5,7) — Paris, showed fine form when he;
os too (4) 22 Feel better when the key EASY PUZZLE ; won the 2006 French
27 Goes round to get the garments (6) is inserted (6) So arse ar = championship, and went on toa
0 29 Increase for FBI agents in the start of 23 Hippy? Wrong! (4-6) ACROSS 27. Aristocracy (6) 6 CityinNW career-best result this spring :
t h 7 24 Control "22" (4 2 4) 9 Period of truce (5-4) 29 De ot warship (7) England (10) when he took the European title
N Hessen) i 10 Wipe out (9) 32 Of choice (9) 7 Disclose (7) ait Diesden’ahead ofmoresiian
: 32 Looking for a child in the burning 25 Akiss from a goose (3) 12 Red meat (4) 34 Crosses (9) 8 Downcast, 180 rival masters. i
1 : 9 “B28 Recording made of wild tigers a year 13 Be able to buy (6) 35. Meeting for boat disheartened (10) ) rival grandmasters. here as
E enclosure (9) 9 gers ay 14 Shrewd, informally races (7) 11 Contuse (5) White (to move) his pieces seem
34 An aberration in take off (9) back (8) (52) ina ce Slate of being ie (6) S eel ue (6) far distant from the black king,
35 To getrid of, | throw back into 29 Acceptance for a few a chum brought HS 4. Pe a 38 Coo. fan (9)| 21 aura style (12) but two positive factors are the
C the tree (7) round (8) 17 Remaining fresh and} 39 Sot a Tne 6 caus (6 iby potential knight outpost at f6
: ‘iets ; ib) j ' vital (9) janitor in dry biscuit ‘ . :
36 Aministerial address (6) 30 Aids to climbing those terribly old go @ Cleaning cloths (7) | DOWN 24° Tennis term (3- and lurking tactics ph back
R 37 Having to go back to get the boy (4) in for (8) 19 Former monetary 1 Sword holder (8) 25 Sob (3) _ row. There isa key hidden
38 Lifting the lid up, it gives one a 31 Is very tight with small curls (7) unit (6) 2 Live within one's 28 Concerning (2,2,4) variation which results in an
20 Woodwind means (4,4,4) 29 Nalters (8) unusual checkmate, and
0 _ surprise (3-6) 33 A pupil - the one and only (5) instrument (4) 3 Hidden 6) 30 Aromatic shrub (8) Thactiev spotted ean au a
| ; 23 School subject (9) dangers 31 Small falcon (7) .
s 39° Humbled and cold, got a move on (9) 34 Manage to get straight (6) 55 Fat 9) 4 Tune (6) 33 Keon (5) ae wall?
26 Greek letter (4) 5 Unnecessary (8) 34 Hypnotic state (6)
W 1 ‘CRYPTIC SOLUTIONS EASY SOLUTIONS AE
0 ACROSS: 4, Morose 7, Hard core 8, T-win-ge 10, Aport 13, Barn 14, Men-u 15, ACROSS: 4, Repast 7, Gladioll 8, Scotch 10, Elite 13, Dear 14, Sash 15, Send 16, Chess solution 8396: 1 Nib+ Kt (or Kh 2 Qxc8+) 2
R K-ale 16, Cop 17, Fair 19, S-t-un 21, Sup-porter 23, W-asp 24, NASA 26, Why 27, Pat 17, Eros 19, Ever a1, Protester 23, Duet 24, Rose 26, Win 27, Tots 29, Raid Qxc8+ Bxc8 3 Rd8+ Ke7 4 Re8 mate. Black can hold
Even 29, St-y-e 32, Wait 33, H-e-ard 34, Refill 35, Lifebelt 36, Bertha 32, Lens 33, Aside 34, Spoons 35, Explicit 36, Slight out longer by 1...Qxf6 2 Qxc8+ and 3 exf6, but White
D DOWN: 1, C-he-am 2, Argon 3, Scat 4, Metal 5, Ru-l-n 6, Sign on 9, W-rest-s 11, DOWN: 1, Ogres 2, Saris 3, Time 4, Risen 5, Poor 6, Sucker 9, Cadets 11, Lag 12, wins easily on material.
Pen 12, Ruf-us 13, Baronet 15, Kip 16, Cur 18, Appeal 20, Teas-e 21, S-ay 22, Ran There 13, De 15. Sot 16, Per 18, Rotten 20, Veers 21, Pun 22, SOS 23, Dispel
23, Wheeze 25, Ayr 28, Villa 30, Tales 31, E-Dl-th 32, Wilt 33, Ho-E-d D5 Aid 28. Onset BO, Altch 31, Delta 32, Long 33, Ally


2

on le,

wep

THE TRIBUNE



FROM page 1

. be comprehensive “will really

do you in” if implemented, Dr
Walker warned, as it promised
that all residents and almost all
benefits/forms of healthcare will
be covered.

However, he argued that the
“most sinister” aspect of the for-
mer government’s scheme was
that it would have eliminated
private healthcare facilities,
such as hospitals, by only per-
mitting private spending for ser-
vices that exceeded or were not
covered by NHI.

Bahamians and residents, if
the PLP’s NHI scheme had
been implemented, would have
not been able to “put your hand
in your pocket and pay for hos-
pital or doctor treatment”, Dr
Walker said.

He added that the Supreme
Court in Canada had recently

ruled against such practices in
the Canadian healthcare sys-
tem, finding that the system
“violated the constitutional
rights of Canadians”. Canadi-
ans’ healthcare was being dam-

, aged, and a universal, compul-

sory health insurance system
was not necessary, the court
ruled.

Similar concerns had killed
healthcare legislation in the US
that was sponsored by presi-
dential candidate Hillary Clin-
ton, and Dr Walker said: “You
need to realise that this is what
is being proposed in the
Bahamas. This provision is the
most sinister one in the report,
and is the Achilles heel of the
Canadian scheme, as it was
recently rejected by the
Supreme Court of Canada.”

The NHI scheme proposed
by the former administration,
by contracting with private hos-

BUSINESS

pitals and other facilities to pro-
vide services for the plan, would
have gradually taken control by
determining budgets and pay-
ments.

Dr Walker, though, agreed
that health insurance should be
made mandatory via legislation.
He explained that this was to
prevent any healthcare financ-
ing system being exploited by
‘free riders’, who never bought
health insurance because they
were secure in the knowledge
that ‘Good Samaritans’ in soci-
ety would pick up the tab for
them. This, in turn, raised
healthcare costs for everyone
else.

However, Dr Walker
described as “nonsense” the
proposal that the National
Insurance Board (NIB) be used
to administer an NHI scheme,
warning that it was “going to
blow a lot of dough and not give

you what you want”.

The Blue Ribbon Commis-
sion’s own report pointed out
that NIB was too costly, 25 per
cent overstaffed and inefficient,

‘ but did not say how these issues

would be tackled to ready it for
NHI. There were also the “hid-
den costs of monopoly” in hav-
ing NHI act as the sole admin-
istrator of NHI.

Dr Walker also decsribed as
“absolutely dumb” any NHI
system that did not employ
some form of user fee, co-pay-

ment or deductible to discour- -

age over-use of healthcare ser-
vices. He added that poor peo-
ple could be exempted from
paying these.

Under NHI, the Government

- would have “decided every-

thing” in relation to healthcare
spending and resource alloca-
tion in the Bahamas, with the
connect between patient and

CUSTOMS. fron page 1. —_-V__—.. ——rr

them until the issue was
resolved.

Mr Lowe said the episode
again highlighted the need for
all parties to the Hawksbill
Creek Agreement - the Gov-
ernment, through Customs and
the Ministry of Finance, the
Grand Bahama Port Authori-
ty (GBPA) and its licencees -
to sit down and discuss the

« issues relating to the agree-
* ment and the Customs Guide,
“” which has no asis in statute

“law.

Although he was waiting to

, Teceive-and study a copy of the
. judgement in the Home Centre

case, to see how it impacted
the bonded goods regime, Mr
Lowé said: “This is an issue
that has raised its head many
times over the last 40 years,

- and the guide, which was cre-
« ated some time in the early

a

.

* 1970s, has only succeeded in

muddying the waters and the
situation.
“It has only served to con-

t * ‘ :
, fuse the situation because it

.. represents an informal give-

and-take between the Port
Authority and Customs.

“The practice does not even
resemble the Guide, which fur-
ther shows the need for there
to be a meeting of minds to
resolve this to the satisfaction
of everyone involved, with a
high priority placed on educa-
tion.”

The Home Centre verdict is
the latest in a string of court-
room defeats suffered by the
Customs Department in rela-
tion to bonded goods and its
attempts to enforce duties on
businesses and residents in
Freeport, many feeling these
efforts were prompted by the
department’s suspicions that
too much revenue was being
lost as a result of the Hawksbill
Creek Agreement.

Under the Hawksbill Creek
Agreement, Grand Bahama
Port Authority (GBPA)
licencees are entitled to import
duty-free into Freeport a
whole range of goods, which
can then be sold on duty free
to other GBPA licencees, pro-
vided the goods are for use in
their businesses.

While Freeport-based

wholesalers sell stock in their






this notice.



Post House Studio & Gallery
Please Call (242) 327-7562

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, AUDRICK ALVARDO
WILLIAMS of P.O. Box AB-20218, Marsh Harbour, Abaco,
Bahamas, intend to change my name to VADO SHERLIN
BOOTLE JR. If there are any objections to this change of
name by Deed Poll, you may write such objections to the
Chief Passport Officer, PO.Box N-742, Nassau, Bahamas
no later than thirty (30) days after the date of publication of

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CORDEISHA |
AUDRANIQUE WILLIAMS of PO. Box AB-20218, Marsh
Harbour, Abaco, Bahamas, intend to change my name to
CORDEISHA AUDRANIQUE BOOTLE. If there are any
| objections to this change of name by Deed Poll, you may
write such objections to the Chief Passport Officer, RO.Box
N-742, Nassau, Bahamas no later than thirty (30) days after



the date of publication of this notice.















NOTICE

NOTICE is hereby given that SCHADRAC NICOLAS, CABLE
BEACH, NASSAU, BAHAMAS, is applying to the Minister

responsible for

Nationality and Citizenship,

for

registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 22ND
day of JUNE, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DERISSON NOEL OF PALM
BEACH, P.O. BOX N-4705, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 15TH day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, RO.Box N-7147, Nassau,

Bahamas.





stores and display goods on
their shelves-to the general
public, a different practice has
often been adopted when oth-
er Port Authority licensees
seek to purchase these prod-
ucts as bonded goods.

The Customs Guide to the
Hawksbill Creek Agreement








June 21, 2007.

Liquidator.

Ripa

NOTICE

NOBLESS HOLDING S.A.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
NOBLESS HOLDING S.A. is in dissolution as of

LIQUIDATOR

requires wholesalers to retrieve
products from bonded storage
in their warehouses when they
are purchased by customers
entitled to receive them duty
free.

Yet is is now understood

- that bonded goods are also

now being displayed at retail.



International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is the

NOTICE

MONVALLEY PORTFOLIO INC.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
MONVALLEY PORTFOLIO INC. is in dissolution

as of June 21, 2007.

International Liquidator Services Inc. situated at 35A
Regent-Street; P.O. Box 1777, Belize City, Belize is the

Liquidator. |

LIQUIDATOR

Bist!

Pricing Information As Of:
Thursday, 21 June 2007

Abaco Markets



Aan

FRIDAY, JUive ez, 2007, PAGE 9B



‘Sinister’ NHI plan would eliminate private health care

service delivery entirely elimi-
nated.

In Canada, waiting times to
see doctors and for specialist
treatment were different in all
provinces, leading Dr Walker
to charge: “Whatever they
think, whatever they promise,
you are not going to get univer-
sal, same access across all the
islands of the Bahamas. We’ve
been trying to do it for 40 years,
and the result has been vast dif-
ferences in access to health-
care.”

The Canadian healthcare sys-
tem was among the world’s
costliest, but it was not among












\




BENCHMARK (BAHAMAS) ITD.
ANNOUNCES A SPECIAL DIVIDEND

FOR THE SECOND HALF OF 2007

The Board of Directors of Benchmark
(Bahamas) Ltd. Announced at it Annual General
Meeting the declaration of a special dividend
of one cent per share based on the results of the
company for the first half 2007.

Payment will be made on 3ist July to
shareholders of record 16th July 2007

the world leaders when it came
to issues such as life expectancy,
infant mortality and perinatal
mortality.

Between 200-2001 and 2004-
2005, total revenues generated
by the Canadian government
gad risen on average by 3.5 per
cent, but health care spending
was growing at 8.1 per cent. In
Ontario, the wealthiest
province, if this trend was not
reversed, total public health
spending would absorb 100 per
cent of the province’s revenues
by 2026. In some Canadian
provinces, 50 per cent of the
budget goes to healthcare.




STs












Bahamas Property Fund
Bank of Bahamas

Benchmark

ELIT Y

Notice is hereby given that the Twenty-seventh
(27th), Annual General Meeting of THE
PUBLIC WORKERS’ CO-OPERATIVE
CREDIT UNION LIMITED will be held at
The British Colonial Hilton Hotel, West Bay
Street, on Friday, June 22, 2007 commencing
at 6:30pm for the following purposes:

To receive the report of The
Board of Directors.

To receive the Audited
Accounts for 2006.

To elect members of The Board
of Directors.

To discuss and approve the
budget for 2008.

All members are urged to attend.
Refreshments will be served!
















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

P. ier Real Estat



Bahamas Supermarkets
Caribbean Crossings (Pref)
JEND

28.00 ABDAB
14.00 Bahamas Supermarkets
5 j *

1.2933
2.9038
2.3915
1.1695
11.0199

Colina Money Market Fund

Fidelity Bahamas G & | Fund

Colina MSI Preferred Fund

Colina Bond Fund

Fide ity Pri come Fund 11.551!
‘ 1 FINDER ¢



Suiaees Sete ORR TNS en
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000. YIEL
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks



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

Daily Vol. - Number of total shares traded today

DIV § - Dividends per share paid,in the last 12 months

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

—_-

TO 08.80% / 2006 34.47%



12 month dividends divided by closing price” NAV KEY

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

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

*- 15 June 2007
** ~ 30 April 2007
***- 31 May 2007

**e* - 30 April 2007





Laer ele

{| INSURANCE MANAGEMENT

| (BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS

THE WEATHER REPORT






aoe FTN) A Speen C10 Te1e 1 eee) 00105117, ce TTT) CTT) A 7 ete : Te aL ae
ag ae : - ae 5 Today - ‘Saturday WINDS WAVES VISIBILITY WATER TEMPS.
High = Low ~W High Low W WASSAU = Today: S at 5-10 Knots 0-1 Feet 4-7 Miles 83° F









E at 5-10 Knots 0-1 Feet 4-7 Miles 83° F
SSW at 5-10 Knots 0-1 Feet 5-7 Miles 82° F
VAR at 5-10 Knots 0-1 Feet 4-7 Miles
S at 5-10 Knots 1-2 Feet 5-7 Miles 82° F
VAR at 5-10 Knots 4-7 Miles



~ MODERATE



Clouds and sun with Partly sunny, a Times of clouds and Times of clouds and Clouds and sun, a The higher the AccuWeather UV Indexâ„¢ number, the
a stray t-storm. t-storm possible. sun. sun. t-storm possible. greater the need for eye and skin protection.





High: 88° ppeal 88° High: 90° ~ High: 90° 93/33 80/26 t
Err © 75° 86/30 77/25 pe
Saar eer er a iT Low: 2 73/22 62/16 s





[0F | =e [102-87 F |








































92/383 72/22 pe
The exclusive ae igre eos. is an — ae Commitee the effects iu foriperstie ne. an caries voi Preciplation, pressure, and Today 1:54am. 23 8:02am. 0.3 stares ae wi
elevation on the ae ody—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 2:29p.m. 2.5 8:42pm. 0.5 "7195 55/12 é 72/22 SA/12 t
7 nee 3:20pm. 2.5 9:38pm. 0.5 63/17 45/7 pc 6417 48/8 pc
Statistics are for Nassau through 2 p.m. yesterday So 3a5am. 21 95am. 04 day od5am. 21 935am. 04 66418 47/8 t — 668 45/7 tS
ABACO Temperature = 411pm. 2.5 10:33pm. 0.5 ~ ao ie ae ae se c
°C ANGI eccentric peiticcens venee 89 FB2C S77 a a«Ct«CvS TO r pe
peeoereme LOW scssrcsanonurnonnmann 78 RDG C MOMIAy CTR ot eee ts Galo 99/37 71/21 s 101/38 71/21 s
NOAH DION asucemiscraununaiisO MOC aaa: ee * 9484 83/728 t —°—S=~*BD. «BAD
Normal low .......... a rivoseeeteHeieeriieactee 74° F/23° C Calgary 69/20 49/9 s 70/21 46/7 s
Last year’s NiQH ....cecesesisenee 87° F/31°C SUN Pai titer Cancun 86/30 73/22 t 98/31 77/25 t~
Last year’s OW ow. seas 19° FB C : ; Caracas 84/28 68/20 pc 84/28 68/20 pc
Precipitation Sunrise. ..... 6:21.a.m. Moonrise .... 1:21 p.m. Casablanca ~ 68/20 64/17 s "78/25 70/21 s
As Of 2 p.m. yesterday ......sssssssecssseerseeeee 0.00" Sunset ...... 8:03 p.m. Moonset....12:55a.m. — Copenhagen 70/21 59/15 r 67/19 58/14 sh
Year to date ........ Say Lee 29.34” First New Dublin ~64A7 52/11 sh 63/17 50/10 pc
High: 87° F/31°C Normal year to date oceans east 16.47” Frankfurt 70/21. 44/6 t 64/17 47/8 t
Low: 74° F/23°C % Geneva Pee ORT SAO 4+ 679 SOMO t
AccuWeather.com Halifax 60/15 46/7 sh 5915 45/7 c
. lie All forecasts and maps provided by ‘Havana: 4 86/380 «73/22 t ~ 83/28 «77/25 t — KX\] Showers
ALLE = : AccuWeather, Inc. ©2007 Jun. 22 Jul. 14 Helsinki 68/20 48/8 s 70/21 52/11 pe FSS] T-storms
191° F/33°C Es ; Hong Kong 90/32 81/27 c =—— «9/82 80/26 c =f [o"3~] Rain
TT° F/25° CG : ° ie Islamabad oe 102/38 85/29 's 12/44 88/31 s | [_*] Flurries Shown are noon positions of weather systems and
Istanbul 87/30 75/23 s 98/36 80/26 s BEE snow precipitation. Temperature bands are highs for the day.
. Jerusalem 89/31 65/18 s 94/34 72/22 s_ oo 1s Forecast high/low temperatures are for selected cities.
Johannesburg 626 39 s - 605 = «=—-38/8 s
Kingston 90/32 81/27 c 90/32 79/26 c
Lima. 6447 5643 pe 679 56/13 pe
London 66/18 55/12 t 66/18 54/12 t
Madrid 827 S7N3s —s- 88/81. 57/13 s
Manila 86/30 78/25 t 92/33 78/25 t
Mexico City 7222 S5N2t —«- 73/22«SS2 t
Monterrey 90/32 70/21 t 94/34 73/22 t
Montreal 68/20 5542t «76/24 ‘58/14 pe
eee Moscow _ 68/20 48/8 pc —72f22 92/1 s
Shown is today's weather. Temperatures are today's . Nairobi : 73/22 Safir 72/22 STO
highs and tonights's lows. New Delhi 9786 81/27 pe 95/385 «-81/27 t
Oslo 6317 54/12 6 66/18 55/12 sh
; Paris 6618 S5N2t —s-« 68/20. SAND
Prague — «77/25 5613 pe 71/21 54/12 t
2 Rio de Janeiro $026 69/20 s ——s- 84/28 «69/20 s :
Namen = Riyadh 10288 8026s 10188 81/27 s_
ao : Rome 5 84/28 «668 pe 3 3———*8 2/27 «S73 Ss : q Or: . ‘ou can rest easy knowing
Today | Saturday Today Saturday Today Saturday St. Thomas. fie TaleG a ___ 89/31 79/26 pe ae
High Low W High Low W High Low W High Low W High Low. W High Low W esse : eh . in see a a s- o have excellent insurance
FIC FIC FIC FIC FIC FC FC FIC Fc FIC FIC FIC San Salvador _ 90/82 7afe2t == 88/31 72/22 t oe 1
Albuquerque 96/35 70/21 s 94/34 6719 pc Indianapolis 80/26 GING t 84/28 6347 t Philadelphia 81/27 5713 s 82/27 60/15 s iago OO 872 SOO 27-2 pe cov era € no matter which
Anchorage 66/18 52/11 c 65/18 51/10 pc Jacksonville © 88/31 68/20 pc 93/33 71/21 pc Phoenix 108/42 85/29 s 110/43 82/27 s SantoDomingo = 91/82 75/23 po 8/29 72/22 po Z
Atlanta 94/34 69/20 s 90/32 72/22 pc Kansas City 91/82 72/22 t 93/33 69/20 pc ‘Pittsburgh = 76/24 51/10 s 78/25 S412 pe RAGGEDISLAND "iat Sad Pato ERE SRE S822 STATS . a wie?
Atlantic City 80/26 55/12 s 83/28 54/12 pc LasVegas 108/42 79/26 s 106/41 79/26 s Portland,OR 73/22 53/11 pc 68/20 50/10 pc High: 89° F/32°C Low: 7 SOU oe Ol BALT7 pC _____BAI3N__7 1/21. pe. .
Baltimore 84/28 55/12 s 82/27 S613 s LittleRock 92/33 70/21 s 93/8 68/20 pc _—‘ Raleigh-Durham 94/34 66/18 s 92/33 66/18 ft” Low: 74°F/23°C Stockholm" 6618 S814 c G47 SO/I5 sh
Boston 76/24 57/13 pc 78/25 57/13 s LosAngeles 80/26 62416 pc 79/26 60/15 pc St.Louis 88/31 74/23 t 89/31 72/22 t al a ALIS eae aoe E.
Buffalo 70/21 52/11 pe 78/25 5743 s Louisville 84/28 65/18 t 85/29 66/18 t Salt Lake City 96/35 66/18 s 96/35 65/18 s”
Charleston, SC 88/31 68/20 pc 92/33 70/21 pc Memphis 96/35 75/23 s 95/35 73/22 pc SanAntonio 90/32 75/23 t 91/32 72/22 t GREAT INAGUA * HRSG RIP RES _—_atr7 sara pe
Chicago 78/25 61/16 t 83/28 65/18 t Miami 91/32 78/25 t 89/31 78/5 t . San Diego 72/22 64/17 pe 72/22 62/16 pe ne ee Trinidad “91/32 oe ; oi 70/21 "
Cleveland 73/22 51/10 pc 81/27 58/14 s Minneapolis 82/27 67/19 t 88/31 70/21 s Sanfrancisco 69/20 52/11 pc 67/19 53/11. pc Low: 79° F/26 van ee
Denver 94/34 61/16 pc 95/35 61/16 s New Orleans 93/33 73/22 s 93/33 75/23 pc Tallahassee 94/34 69/20 s 96/35 70/21 pc em 75/93" 5442 pe ——«S75/23 S12 t
Detroit 79/26 5713 pe 82/27 6116 s New York 77/25 6518 pe 80/26 61/16 s Tampa °° 88/31 74/723 t © 90/82 74/23 ft Wenkse: 82/27 64/17 t 83/28 62/16 t
Honolulu 88/31 75/23 s 88/31 75/23 s OklahomaCity 87/30 69/20 t 91/32 68/20 pc Tucson 108/42 78/25 s 105/40 75/23 s sai
Houston 92/33 71/21 pe 93/33 71/21 t Orlando 92/33 72/22 t 91/82 73/22 t ‘Washington, DC 86/30 62/16 s 86/30 61/16 . pc me Sesinat (h es aiy Pe rare ou Sieh tere

storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace