Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item
Resource Identifier:
09994850 ( OCLC )
9994850 ( OCLC )
UF00084249_02926 ( sobekcm )

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Volume: 103 No.178



MOSTLY CLOUDY,

Senator Hepburn speaks
on ‘importance of bringing
respect to judicial system’

@ By ASHLEY THOMPSON

ATTORNEY General Claire
Hepburn during yesterday's
Senate debate on the budget
slammed the previous adminis-
tration’s handling of the judi-
ciary and stressed the impor-
tance of bringing respect and
dignity to the judicial system.

This objective, she said, aims
to help continue protecting the
freedoms guaranteed in this
country.

Senator Hepburn also
explained that the importance
of an independent judiciary is,
“to protect the ability of judges
to look after citizens, and to dis-
charge the task essential for the
citizens’ well being”.

An independent judiciary is
also considered important “as
it is only an independent judi-

PLP govt ‘warned
MURR IND
loss if wharf was
MOC IPTC

B By ALISON LOWE
Tribune Staff Reporter



















THE former PLP govern-
ment ‘was warned more than
two years ago that the
Bahamas would lose four
cruise ships if it did not expand
Prince George Wharf’.

This was the claim yester-*
day by senator and minister
for labour and maritime affairs
Dion Foulkes in the senate, in
the wake of an announcement
by Royal Caribbean cruise line



SEE page nine



ciary that can administer justice
fairly”.

This is also the only way that
the “basic rights and freedoms
of citizens can be protected,”
she said.

To begin this process Sena-
tor Hepburn said that the new
administration will seek to
ensure “the executive and leg-
islative branches of the govern-
ment do not in anyway seek to
interfere or even appear to
interfere in the independence
of the judiciary”.

Senator Hepburn also
addressed comments made on
websites questioning the justice
one would receive under the
FNM government. It was
announced that those who have
respect for the judiciary should

_ SEE page nine

Tourist arrivals
‘to increase in
next few months’
m@ By TANEKA THOMPSON

TOURIST arrivals to the
Bahamas are expected to
increase over the next few
months, according to experts.

As reported by The Tribune,
the loss of cruise ship stopovers
by, major cruise line Royal
Caribbean has caused a sub-
stantial blow to income derived
from the industry. The cruise
line has reportedly removed
four ships from its Nassau route
in favour of Europe and other
destinations.

Royal Caribbean ships stay in

SEE page nine



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@ 28-YEAR-OLD David Cie pene of Bar Lane, Grand Bahama at court era
(Photo: Tim Clarke/Tribune staff)

@ A MAN, 28, was arraigned in magistrate's
court yesterday charged with murder and

attempted murder.

David Cooper Cunningham, of Bar Lane,
Grand Bahama, was arraigned before Chief
Magistrate Roger Gomez at Court One, Bank

Lane, yesterday.
Court dockets allege that on Tuesday, June 12,

Cunningham intentionally caused the death of

Marvin Lightbourne.

SEE page nine



Lawyer hits back at PM’s election court comments

@ By ALISON LOWE
Tribune Staff Reporter

A MEMBER of the PLP's
legal team has condemned com-
ments made by prime minister
Hubert Ingraham in which he
said it would be the former gov-
erning party that would be held
responsible for the costs that may
arise from the forthcoming elec-
tion court contest.

Lawyer Philip Davis said that
as the matter is before the courts,
Mr Ingraham spoke "premature-
ly" and inappropriately when he
said on Sunday that the govern-
ment would not have to pay legal
costs because, Mr Ingraham
claimed, it would be the PLP's
mismanagement that would be
responsible for any discrepancies
on which their case may rest.

Another lawyer for the PLP,

Wayne Munroe, has stated previ-
ously that their case primarily is
based on the assertions that per-
sons registered and voted in con-
stituencies other than that in
which they live, and that non-cit-
izens voted.

Mr Davis said: "I don't know
how he can say that (about the

SEE page nine

More donations
for the dialysis
machine campaign

DONATIONS continue to
pour into Tile King, FYP, Ltd
and The Tribune’s campaign to
raise funds to provide badly
needed dialysis machines for the
Princess Margaret Hospital’s dial-
ysis unit.

Family Guardian & Bahama
Health has donated $20,500 to
the fund, which will purchase a
full unit inclusive of installation
cost, staff training and technical
support for a year. Also donating
to the fund was Damianos Sothe-

SEE page nine

Fatricia
Real Estate Agent





@ FAMILY GUARDIAN DONATES UNIT: Linda Jarret, Vice
President, Group Life & Health (BahamaHealth) presents a cheque
for $20,500 to Robert Carron, The Tribune, with Anne Higgs, Vice
President, Human Resources & Public Relations, Family Guardian,
to purchase a dialysis machine for the Princess Margaret Hospital.

Christie: PM has
to continue PLP
work left in place
for Bay Street

@ By PAUL TURNQUEST
Tribune Staff Reporter

PRIME Minister Hubert
Ingraham has no choice but to
continue the work that the PLP
left in place for the revitaliza-
tion of Bay Street, PLP leader
Perry Christie said yesterday.

Mr Christie, who spoke
emphatically about the removal
of the container port on Bay
Street and the beautification of
downtown Nassau, said that the
current Prime Minister has no
vision, and should stop seeking
to dismiss projects that the for-
mer government left in place,
simply because they were “PLP
ideas”.

Mr Christie said that the revi-
talization of Bay Street would
include signature developments
that would ensure the future of
not only that region, but of New
Providence. As such, the FNM’s
decision to discontinue this
work, which Mr Christie said

"

SEE page nine

Convicted
murderetr’s
appeal is
adjourned

@ By NATARIO McKENZIE

THE appeal hearing of con-
victed murderer Cordell Farring-
ton was adjourned for a second
time yesterday when the court
was informed that Farrington's
new lawyer needed more time to
prepare for the appeal.

Farrington is appealing his
death sentence for the 2002 mur-
der of Jamal Robins, 22. The sen-
tence was handed down in Octo-
ber 2006 by Senior Supreme
Court Justice Anita Allen. In her
judgment Justice Allen had stated
that she was satisfied beyond a
reasonable doubt that the appro-

_ priate sentence was death.

On August 18, 2006, an eight-
man four-woman jury unani-
mously found Farrington guilty
of the 2002 murder of Jamal
Robins. The murder took place
at an apartment at Mallory Lane,
Freeport. Some of Robins’
remains were found in an area
off the Grand Bahama highway.
At the trial a pathologist revealed

SEE page nine

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PAGE 2, TUESDAY, JUNE 26, 2007

THE TRIBUNE





An open let

—=



r to Mrs

Allyson Maynard-Gibson

D ear Mrs Gibson:

FIRST of all, I have a public con-
fession to make. It is a confession I
have made privately to some of my
readers who have accused me of hav-
ing a soft spot for certain people in the
PLP.

They have made remarks like
“Why did you go so easy on
Allyson?” and “Why do you never
criticise Glenys?”

On those occasions when I felt I
had no choice but to criticise you —

even if with great restraint — for your
actions in the political arena, someone
close to you accused me of wielding a
“poison pen”.

He obviously did not know that the
definition of “poison pen” is an abu-
sive or slanderous anonymous letter.

. I took it that he meant I had been
too severe in my criticism of you,.or
perhaps he meant that I should not
have criticised you at all.

I could have given him an example
of what a scathing attack really looks
like but I said to myself, “If only he
knew”, and offered no response but a
smile.

The truth is (and this is the confes-
sion) that I have indeed nurtured a
soft spot in my heart for a number of
people in the PLP, including you and
your former ministerial colleague,
Glenys Hanna Martin. I will explain.

Be now (if I might borrow
words from my friend and
comrade, the late Sir Cecil Wallace
Whitfield), my soul dances as I recall
the days when I was privileged to strug-
gle alongside some very courageous
Bahamians and to do my little bit for
the achievement of majority rule and
the full social, economic and political
emancipation of the Bahamian people.

One of them is Bahamian national
hero Arthur Hanna, who was on the
frontline from beginning to end. Anoth-
er is his wife, Beryl, a truly remarkable
Bahamian woman.

I say Bahamian because although she
was born in Britain, she came here, iden-
tified thoroughly with the Bahamian
people and their just cause, and became
one of us. They are the parents of Glenys
Hanna Martin.

Then there is Clement Maynard who
also played his part in the struggle along
with his wife, Zoe. And, of course, there
was the late Georgina Symonette May-
nard, a tireless crusader for the rights of

oa HUR |













Bahamian women and for majority rule.
They are your parents and grandmother.

Your parents know of the involve-
ment of all of us who later went on to
form a new political party and who were
known as the Dissident Eight, and two
others who were called Number Nine
and Number Ten:

Cecil Wallace Whitfield, Warren

_ Levarity, Maurice Moore, Curtis McMil-

lan, Elwood Donaldson, Jimmy Shep-
herd, George Thompson, Arthur
Foulkes, Kendal Isaacs and Orville Turn-
quest.

You know fuil well that all of the Eight
were elected to the House of Assembly
in 1967 as a part of the group that ush-
ered in majority rule.

You know that some of them had been
fully engaged in a long and arduous
struggle and had made great personal
sacrifices to reach that day. ~



By what perverted mental processes
could you come to compare us with
murderous slave masters? ... How |
could you, in just a few short minutes,
spew such a torrent of wicked lies?









Sir Cecil... did not want us to.
exchange the imperial masters
only to be abused by corrupt and
tyrannical local masters whose main
objective was to become richer than

all their tribe.



You know that Mr Levarity and I
were among those who advocated



Bahamian independence as far back as
the Fifties, and were reprimanded by
the leaders of the PLP for bringing
up the issue in public.

You know that Sir Cecil suggested
in 1967 on the floor of the House of
Assembly that perhaps The Bahamas
should consider making a unilateral
declaration of independence.

I know that you know all these
things, Mrs Gibson, and that you
have heard them repeatedly recalled.

Yet on the floor of the Senate last
Friday you likened us — the roots of
the FNM - to the slave master who
tortured to death a slave girl, poor





black Kate, in the 19th century. Then

you went on to say that we were

opposed to majority rule and inde-
pendence.

By what perverted mental process-

es could you come to compare us with
_ murderous slave masters?

How could you malign us in such a
fashion, Mrs Gibson, especially those of
us who have passed on and are not able
to defend themselves?

How could you stand there and slan-
der all of us like that?

How could you, in just a few short
minutes, spew such a torrent of wicked
lies?

How could you, with a counterfeit
smile on your face, refer to Sir Cecil as
“Uncle Cecil” while spitting on his
grave?

You know full well that the Sir Cecil
who advocated independence in 1967
and warned against independence under
Sir Lynden Pindling in,1972 was the
same man but with an added experience.

The Sir Cecil who spoke in 1972 had,
along with the rest of us, been publicly
condemned as a traitor by PLP col-
leagues.

In an orchestrated attack at Lewis
Yard he had also been beaten over the
head with a metal chair because he dared
to criticise the leadership of the PLP.

There had also been an attempt on
his life by a knife-wielding would-be
assassin in Parliament Square.

D o you wonder that under these
circumstances he questioned ~

whether we had attained the level of
maturity necessary for a successful tran-
sition to an independent and tolerant
democracy?

Sir Cecil had also witnessed the rapa-
cious greed and corruption that was
threatening to consume the PLP along

with a growing personality cult. He was
stunningly correct when he warned about
possible disaster, as the events of the
first decade of independence clearly
demonstrated.

You remember that, Mrs Gibson.

The country was indeed brought to
the edge of disaster when the Colom-
bian drug dealers took over and the bank
accounts of some in very high places
were stuffed with unidentified deposits.

The country has not yet — may never —
fully recover. from those dark days when
the best Bahamian values and traditions

were swept aside in an avalanche of . :

greed, corruption and unprecedented
violence.

Sir Cecil did not want to see his coun-
try go the way of some others. He was
aware of the familiar pattern of high
hopes and eventual disaster in some ter-
ritories emerging from colonialism.

This pattern had been dramatically
portrayed in two novels by Nicholas
Monsarrat: The Tribe That Lost Its Head
and Richer Than All His Tribe.

You should read these books if you
have not read them before or if you have
forgotten them, and you should read
more post-colonial history. Then take a
long, hard look in the mirror.

S ir Cecil did not want our beloved
Bahamas to be like that. He did
not want us to exchange the imperial
masters only to be abused by corrupt
and tyrannical local masters whose main
objective was to become richer than all
their tribe. aby os

Sir Cecil had come to lose faith in
some colleagues who talked a lot about
people like poor black Kate while using
the inheritance of the very same people
to stuff their private bank accounts.

It was through the rare courage and
determination of Sir Cecil and others
that a healthy two-party parliamentary
democracy survived in The Bahamas.

I am glad that I am able to defend his
good name and his place in history from
your brand of revisionist vandalism.

I also believe that when all of us will
have passed off the scene, others will be

informed enough to defend us from your °

malicious misrepresentations.

More importantly, I pray that there
will always be champions like Sir Cecil to
defend our country against the demons
let loose in the Seventies and Eighties,
demons that are still very active today.

Sincerely

Arthur A Foulkes

sirarthurfoulkes@hotmail.com
www.bahamapundit.typepad.com



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: For the stories :



Three held
after police
discover
machine gun

POLICE say that tips from
the public ied to the discovery

- of a machine gun late Sun-

day night.

ASP Walter Evans said
around 11pm officers from
the mobile division had rea-
son to stop and search a
green Chevy Lumina in the
area of Blue Hill Road South.

Police found a machine
gun and an imitation hand-
gun. As a result, two men
aged 21, along with an 18-
year-old female, were arrest-
ed and taken into police cus-
tody. ASP Evans thanked the
public for its assistance, which
led to the discovery.

"The public saw what was
happening and information
was passed on to police.
Police then had reason to
stop that vehicle," he said.

Club owner
admits selling
liquor without

having licence .

THE proprietor of the

Ocean View Night-Club,in-

Jones Town, Eight Mile
Rock, was charged in Eight
Mile Rock Magistrate Court
on Monday.

Geno Jones,
Regency Park, North
Bahamia appeared before
Magistrate Debbye Ferguson.
His arraignment stems from a
police raid on June 8 at the
establishment in connection
with an alleged breach of the
Liquor License Act.

Jones, who initially failed
to appear in court on June
13, was arrest on a bench
warrant and subsequently
arraigned.

He pleaded guilty to sell-
ing an assorted amount of
intoxicating liquor without
first obtaining a licence from
the proper authority.

‘He was sentence to a fine
of $100 or three months
imprisonment. ,

Jones, who allegedly failed
to produce a valid business
licence during the police raid
on June 8, told the Court that
he has since secured a valid
licence for the premises.

Magistrate. Ferguson
adjourned the matter to
Tuesday (June 26) in order
for him to produce that
licence to the court, at which
time a decision will be made
regarding the disposal of the
confiscated inventory.

Man faces
charge of
armed
robbery

A MAN was arraigned in
Magistrate's court yesterday
on an armed robbery charge.

It is alleged that Don-
navone Sturrup alias 'Tin
Man", 23, of Nassau Village,
robbed Wilshire Beneby of
$800 on Thursday March 2,
2007.

Sturrup, who was arraigned
before Magistrate Susan
Sylvester at Court 11 Nassau
Street, was not required to
plead to the charge and was
remanded to Her Majesty's
Prison. The case was
adjourned to October 5.

The Music... That’s Y!



35, of .

at



he

THE TRIBUNE

LOCAL NEWS.

TUESDAY, JUNE 26, 2007, PAGE 3





Majors due
to appear

in Court of
Appeal today

DWIGHT and Keva
Major are expected to
appear in the Court of
Appeal today as they get set
to take their appeal to the
Privy Council.

Last October, the Majors
were granted conditional
leave to prepare for their
appeal before the Privy
Council and have since
required additional time to
prepare their appeal, having
acquired new counsel, attor-
neys Keod and Kean Smith.

In May, 2006, the Majors’
bid to avoid extradition to
the United States on sub-
stantial drug charges was
dealt a major blow when the
Court of Appeal ruled that
their appeal to overturn a
judge's ruling against their
habeas corpus application
was without merit.

The Majors are wanted
by the US government to
face drug charges reportedly
related to an international
conspiracy involving hun-
dreds of pounds of cocaine.

Today, the Court of
Appeal is expected to deter-
mine whether final leave to
appeal to the Privy Council
should be granted.

Man treated
in hospital

after attack
with cutlass

AN argument over a
phone card has left one man
in hospital in serious condi-
tion, according to police.

Press liaison officer ASP
Walter Evans said around
11pm on Sunday a man in
his early twenties got into an
argument with a group of
persons over a phone card.

The incident occurred in
the Nassau Street area. The
man was hit about the body
with a cutlass.

Phone card
vendor is
robbed by
gunman

THE vendor of a Quick
Cell booth on East Street
South was robbed by an
acried gunman on Sunday
nizht, according to police.

Around 7pm. a man dri-

. ving a red Nissan Sentra

pulled up to the booth and

_ robbed the employee of $700

cash and several phone cards.
The robber then sped away.

Based on information
police have received in
regard to the description of
the vehicle and the registra-
tion number, it is believed
the car was stolen.

Memorial
planned for
cruise ship
passenger

A MEMORIAL service is
scheduled for tomorrow for a
North Carolina man who dis-
appeared from a cruise ship
last week near the Bahamas.

Brent Smith was last seen
one week ago aboard the
Freedom of the Seas, which is
owned by Royal Caribbean
International.

The ship turned around
shortly after Mr Smith was
reported missing on the
morning of June 18. The
Coast Guard also launched a
search but called off its
efforts after officials decided
it was unlikely search teams
would find Smith.

The date of his death was
listed as June 18 in an obitu-
ary placed in the Wilson Dai-
ly Times on Monday by the
Seymour Funeral Home. The
funeral home says Smith,
who is from Fremont, will be
remembered at a service on
Tuesday night at United in
Christ Church in Goldsboro.

The ship docked in Puerto
Rico to allow FBI experts to
investigate whether foul play
was involved.

Bia
eis

FOR PEST PROBLEMS
bed) ait 7 dg YA





Hi GLENYS Hanna-Martin

Foulkes defends founders of FNM
against attack by Maynard-Gibson

@ By ASHLEY THOMPSON

ALLEGATIONS made
against the FNM and its origins
were addressed by Senator
Dion Foulkes during the Sen-
ate debate yesterday.

He claimed that Senator
Allyson Maynard-Gibson
“maliciously, viciously attacked
my party and its present lead-
ership and, more seriously, the
founders of the Free National
Movement.”

Senator Gibson alleged that
“The roots of the FNM were
opposed to majority rule and
independence.”

Senator Foulkes declared that
this statement was based on
untruths. -

He emphasised that this was
an assault on the founders who
were still living and an injustice
to those who had died in past
years.

These ten men, eight of
whom were members of the
Dissident Eight, were previous





members of the Progressive
Liberal Party, as well as mem-
bers of parliament.

Senator Gibson defended her
statement, claiming that she did
not use the names of any of
those men. She also confirmed
that, as members of the Pro-
gressive Liberal Party, they
could not have opposed major-
ity rule.

Senator Foulkes insisted that
the roots of the FNM had to be
the founders of the party and
that there were no other possi-
ble roots. He also said that she
did use Sir Cecil Wallace Whit-
field’s name in her speech.

He contradicted Senator
Gibson’s statement about the
Free National Movement’s
roots opposing independence
by reminding the Senate that
some of the founding members
were advocates of indepen-
dence before Sir Lynden Pin-
dling.

These persons were rebuked
by the PLP in the 1950s and

Hanna-Martin: we were planning
for dredging of Nassau harbour

@ By PAUL TURNQUEST
Tribune Staff Reporter

THE former Minister of
Transport and Aviation Glenys
Hanna-Martin lashed out yes-
terday at current Minister of
Tourism Neko Grant for his
statements on the Royal
Caribbean Cruise Line pulling
its cruise ships from the
Bahamas.

Mrs Hanna-Martin, flanked
by many of her former minis-
terial companions and PLP
leader Mr Perry Christie, held a
press conference in the opposi-
tion office opposite the House
of the Assembly.

Mrs Hanna-Martin said:
“Let me begin by’stating that

@ DION Foulkes

1960s when they spoke about
the Bahamas becoming inde-
pendent.

Senator Foulkes did admit
that in 1972 Sir Cecil Wallace
Whitfield, who had been a sup-
porter of independence, was
against independence at that
specific time. This was due to
concerns he had about the
country being led by Sir Lyn-

McAlpine welcomes bringing duties
and taxes on imports together

@ BY DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Senator Rev
Frederick McAlpine believes
that the amalgamation of cus-
toms duties and stamp tax on

" imports will encourage Bahami-

ans to be “more honest and
forthright in their dealings with
regard to paying custom
duties.”

“I enthusiastically share the
views of our government to
amalgamate or bring together
custom duties and tax stamps
on imports,” he said in his bud-
get communication to the Sen-
ate last week.

Senator McAlpine said the
government plans to have this
accomplished in time for the

‘2008/2009 budget.

He said he believed that, by
amalgamating custom duties
and stamp tax, seeking to main-
tain a low, stable and pre-

_dictable level of taxation in

accordance with the rule of law,
encouraged compliance and
reduced the advantages of
avoidance.

“TI long for the day when
there won’t be three different
types of duties on vehicles being
imported into the country. I
often think the lower the duty,
the more compliance we will
have — the more compliance,
the greater the revenue,” he
said.

Senator McAlpine reported
that the government is expect-
ing a surplus in this fiscal year of
$25 million.

“The estimate recurrent
expenditure for this year is one
billion, four hundred and sixty-
five million dollars. Our rev-
enue income is estimated to be
one billion, four hundred and
ninety million dollars. That’s
why this is referred to as a bal-
anced budget.

“Our outgo is not more than
our intake. If we maintain this
we won’t have any economic
fall-outs. It is basic economics: if
your outgo is more than your
intake it leads to your financial
downfall. Prudent fiscal man-
agement is the hallmark of this
government, distinguishing it
consistently from other admin-
istrations,” he said.

Senator McApline pointed
out that there are 10 main
sources of tax revenue to the
government’s treasury. He not-
ed that import and export duties
are the number one source of
revenue for the government.
They are listed from highest to
the least.

1) Import and Export Duties

2) Stamp Taxes

3) Tourism Tax

4) Property Tax

5) Motor Vehicles

6) Gaming Tax

7) Company Fees

8) Insurance Company Fees

9) Bank and Trust Company
Fees :

10) Other Taxes.

He said government contin-
ues to promote budgetary pru-
dence and economic responsi-
bility on behalf of the Bahami-
an people.

“We seek to govern ethically,
fairly and, most of all, be
accountable to our nation as we
act for all and on behalf of all.
We seek to establish trust in
governance once again. .

“Tam extremely grateful,
consistent with our govern-
ment’s policy to be apparent
and answerable, that they have
decided to submit to the Lower
House of each fiscal year a mid-
year budget statement.”

He explained that the state-
ment would set out the bud-
getary background of the fiscal
year to date; the fiscal perfor-
mance in the first six months;
and even more so, submit any
proposed additions to expendi-
ture for approval.

“It is unfortunate, but our
predecessors failed to do this;
spending all kinds of funds that
had minimal, if any accounting
for, especially at the end of their
tenure in office.

Senator McAlpine. said this
also allowed government to
deal with unforeseen cata-
strophic and cataclysmic occur-
rences.

“This is real governmental
responsibility and accountabili-
ty at its best. Our government is
a government for the people,
by the people, with the people
and from the people.

“Our people trust us to do
their business and to create
sound, economic policies that
will better us as a people and
strengthen generations to
come,” he said.

Maynard-Gibson under fire for ‘public
relations stunt’ with new law school

FORMER Attorney General
Allyson Maynard-Gibson has
come under fierce attack from
her successor over an alleged
“public relations stunt” in rela-
tion to the Eugene Dupuch Law
School.

Senator Claire Hepburn said
the ground-breaking ceremony
for the law school building
ought not have taken place “as
the property had not yet been
conveyed to the proper author-
ities.’

Mrs Maynard-Gibson was
reportedly advised not to hold
the ceremony as the land was

not yet the property of the gov-
ernment.

Her response was that there
was a Cabinet council for the
National Insurance Board to
transfer the land and that the
only thing needed was for the
Ministry of Works to follow
through.

Senator Hepburn expressed
dismay, claiming the ceremony
was “a public relations stunt”
which the former Attorney Gen-
eral allowed “the dignity of her
office to be a participant (of)”.

At the time of the ground-
breaking ceremony on Decem-

ber 11, 2006, no contract had
been signed, nor had the prop-
erty been conveyed to the rele-
vant authority.

Senator Hepburn also justi-
fied the FNM’s inclusion of the
construction of the law school in
the 2007/2008 budget.

She informed the Senate that
it was well-known that the
Bahamas government had com-
mitted to building the law
school and that decision did not
have anything to do with
whether or not a ceremony was
held on land not owned by the
proper persons.

either the honourable minis-
ter does not know the facts
because he either has not tak-
en the initiative or the time to
apprise himself of the facts, or
he alternatively does know the
facts, and has decided to mis-
lead the public for cheap polit-
ical gains. Either way, his
assertion is false and, I might
add, irresponsible.

“It is most unfortunate that
this FNM government has
decided to draw Royal Cruise
Lines into a domestic political
row. Royal Caribbean has
been a major cruise player in
this country over the years,
and it is wrong that this minis-
ter is using it to create political
mischief, or to generate mis-



HB ALLYSON Maynard-Gibson

den Pindling.

At the time, Whitfield saw
the greed, corruption and intol-
erance that was prevalent in the
current government. The first
ten years after independence
was a “near disaster”, Senator
Foulkes said. He also claimed
that the country is still recov-
ering from the reputation it
received at the time.







conceptions and innuendoes,
or to perpetuate dishonesty for
partisan political reasons,” she
said.

Previously, Minister Grant
had stated that the former PLP
government had done nothing
to facilitate the dredging of the
harbour to accommodate the
larger, mega cruise ships. As a
result, he said cruise lines like
Royal Caribbean had pulled out
of the Bahamas.

However, Mrs Hanna-Mar-

tin, who had responsibility for

the dredging of the Nassau har-
bour when the PLP was the
government, said the former
government had been planning
and preparing for such a dredg-
ing for more than two years.

Senator Foulkes said those
he believed Senator Gibson was
attacking were men who fought
for the equality of Bahamian
women as well as the right of
the Bahamian people to move
from island to island.

Although these men were not
able to convince the British gov-
ernment to give full equality to
Bahamian women, they did per-
suade them to stop the PLP
from forcing Bahamians to
remain on the Out Islands
where they were born.

The progress the founders of
the Free National Movement
instilled in their party is some-
thing that Foulkes stressed is
still around today as a few
members of the FNM today
were originally born into PLP
families.

Senator Foulkes also empha-
sised how this progress shown
by the founders of the Free
National Movement goes
against the original statement.
made by Senator Gibson.

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PAGE 4, TUESDAY, JUNE 26, 2007

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE










THE WEARYING battle on immigration
continues in the US Senate, where once again
rational reform faces a test of survival. A vote
expected Tuesday requires 60 senators to pro-
ceed. Earlier this month, a similar vote failed.

Too many senators disliked pieces of the
sprawling bill. Indeed, the compromises aren't
pretty. There are flaws and omissions. But the
bill now has a new amendment, supported by
President Bush, to spend $4.4 billion for border
security, which should reassure some critics.
The bill also has an asset the country badly
needs: progress.

Senate members should dig deep and find
the political will to move this bill forward. The
country needs the shove. National policy has
been stuck for years.

The bill would increase border protections,
set up a guest worker programme, and create a
way for the estimated 12 million people who are
here illegally to pay a $5,000 fine and pursue cit-
izenship. It’s a sound attempt to modernize and
face up to real limitations, including the fact
that it’s hard to deport 12 million people.

Still, the political process is harrowing. Sen-
ator Edward Kennedy has been accused even by
supporters of.compromising too much. And
other senators are wary of angry voter backlash.

Outside Washington, however, there’s
impressive clarity. A letter sent to Senate major-
ity leader Harry Reid from the Western Gov-
ernors’ Association urges the Senate to pass

PARIS — They came, they met, they agreed
that more must be done, but a gathering here
aimed at solving the crisis in Sudan’s
Darfur region ended Monday with little visible
progress.

“We really must redouble our efforts, and I
think that that was the spirit of today’s confer-
ence,” Secretary of State Condoleezza Rice said
at a brief news conference after the day of closed
meetings.

“The point here was to take stock of where we
are and to make sure that we are doing every-
thing we can.”

The French foreign minister, Bernard Kouch-
ner, said the delegations from 18 countries —
including Sudan’s major donors, the Group of 8
industrialized nations and China — had reaf-
firmed their support for a joint African Union
and U.N. peacekeeping force as outlined in a
deal reached with the Sudanese government
this month.

“There is a little light at the end of the dark-
ness,” Kouchner told reporters.

But there was no announcement of which
countries would contribute soldiers, nor was
there any signal that China had softened its
resistance to levying sanctions on Sudan, a mea-
sure that would require Chinese acquiescence to
win approval from the Security Council. China

& TRUCKS»

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

STIR ETIENNE DUPUCH, Kt,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Published Daily Monday to Saturday

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

US should take action on immigration

Little progress on Darfur reported












O.B.E., K.M., K.C.S.G.,









Publisher/Editor 1972-







comprehensive reform, saying any policy “
should have the overarching purpose of pro-
tecting and preserving the safety and interests of
the United States and its citizens while recog-
nizing our nation’s economic needs to have a
stable and legal supply of workers where there
are no willing United States workers otherwise
available. Western farmers and other business-
es need to have a steady supply of seasonal and
year-round workers in order to meet their
demand.”

The June 22 letter is signed by a bipartisan
group of governors: Jon M. Huntsman, Janet
Napolitano, and Arnold Schwarzenegger,
respectively the governors of Utah, Arizona,
and California.

The National Governors Association’s policy
on immigration says: “The federal government
has the dual responsibility to protect our nation-
al borders and maintain the values that make us
a beacon of democracy, human rights, and civ-.
il rights.” In other words, keep the country safe
and decent.

If the bill survives Tuesday's vote, more polit-
ical stamina will be needed. The bill would face
another Senate vote and then move onto a new
battlefield in the House.























(° This country also needs a new look at our
immigration laws to bring it up to date and face
the Haitian situation which has bedevilled us for
years. — Ed)









is a staunch ally of Sudan and major buyer of its
oil.

France did say it would contribute about $13.5
million to help finance the peacekeeping force.
The country has spent about $3.4 million on aid
to Darfur so far this year and about $5.25 million
last year, according to U.N. figures. The Euro-
pean Union promised to spend an extra $42
million for humanitarian relief in the coming
months.

Since early 2003, Arab militias known as the
janjaweed have been raping and killing non-
Arabs in Darfur, ostensibly as part of the
Sudanese government’s effort to suppress a
rebellion there. The Bush administration has
labelled the violence genocide, but the limited
African Union peacekeeping force there has
been unable to curb it.

The African Union and the United Nations
hope to get all factions to sit down for peace
talks in August. China’s special envoy, Liu Gui-
jin, told reporters on Monday that Sudan was
ready to take part in such talks.

But delegates said that with more than a
dozen armed groups operating in the region,
negotiating peace would be difficult.




















(* These articles are from
The NewYork Times — © 2007)





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| and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

RRZER REZERS AREER)

Blaming cruise
ships easier than
addressing the
real problem

EDITOR, The Tribune.

THE cruise ships are
pulling out of Nassau and we
are surprised! Bay Street
merchants have been telling
successive Governments for
years that downtown Nassau
has degenerated into a dump,
a slum, a shanty town. And
we are surprised?

Cruise ships are, no more,
nor no less, than any other
business and when product
demand disappears, the busi-
ness owner must change his
business strategy or close up
shop. We are collectively
blaming the cruise ships
because that is far easier than
addressing the real problem,
which is the product that we
offer. Bay Street shopping
has been the preeminent des-
tination attraction, for cruise
ships visiting Nassau these
many years and we have col-
lectively allowed this attrac-
tion to degenerate into a

' dump. Efforts have been

made, particularly by the pri-
vate sector, to arrest and
reverse the problem, but, at
the end of the day, there are
key aspects of a revitalisation
that requires Government
action. Successive govern-
ments (PLP and FNM) have
given lip service to these
responsibilities but it has nev-
er been more than that — lip
service.

We have, for better or
worse, determined that our
tourism market would be
drawn frbm what I would call
“Main Street America”. Main
Street America is no longer
the inner cities of America
and this former population
has moved away to the sub-
urbs because they don’t like
and will not tolerate filth,
drug dealers, pan handlers
and the like. Yet we think
that we can offer them exact-
ly such on their hard earned
vacations. Where are our
brains?

Despite much talk and dis-
cussion, the Jitneys, spewing
their diesel exhaust all over
town, are still a part of the
Bay Street scene. As the tran-
sit hub of the island, Bay
Street is invariably inundat-
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force, and school establish-
ment, trying to get home each
day. Main Street America is
not used to this and most of
its citizens are intimidated, if
not disgusted, by hordes of
marauding people. Like it or
not that’s a fact. And, if the
Jitneys’ diesel is not enough,
we have the massive diesel
container trucks lumbering
through downtown all day
every day because we are too
stupid to rearrange the Bay
Street traffic flow. Americans
for the most part today don’t
smoke cigarettes, yet we
expect them to inhale our
uncontrolled diesel emis-
sions? Its not going to hap-
pen!

Where are the police, who
used to be so visible on Bay
Street many years ago.

Nowhere to be found, and
so the drug dealers and pan
handlers just flourish unfet-
tered.

Of course there has been
much talk of our straw mar-
ket, formerly a key Bay Street
attraction, but now a rat
infested ghetto. In Main
Street America this tent-city
would have been closed and
condemned as a health and
safety hazard six months after
its establishment. But we
think that these people will
visit this hell hole nonethe-
less? It’s not going to hap-
pen!

And we, perhaps fortu-
nately, have suddenly discov-
ered that the former charm
of downtown, the old build-
ings, are now derelict or have
been torn down. Yes, these

_ were the things, the history,

that Main’ Street America
used to come to see. Do we
wonder why Harbour Island
is such an attractive and suc-
cessful destination? Quant lit-
tle houses, built in the eigh-
teenth and nineteenth cen-
turies, but still in pristine con-
dition, tell the vivid story of a
bygone day. Did we think of
this when we bulldozed the
Royal Victoria Hotel?

And, as our Bay Street
merchants and their staff,
gasp for their fina! financial
breath of the year, we barri-
cade the town with vulgar
chain link fencing, and block-
ade the interior with metal
bleachers so that our people,
not Main Street American
visitors, can enjoy their cul-
tural heritage of Junkanoo.
Well, you can’t eat Junkanoo,
and it ain’t going to buy youa
single ounce of grits.

We have, unfortunately,
become what Main Street
America is not, and until the
governments of the day

realise this simple fact and |

take the appropriate action
to change the status quo the
cruise ships and their passen-
gers are not going to be visit-
ing li’l Nassau for a long time
to come.

BRUCE.G RAINE
Nassau,
June 20, 2007.

A solution for
the Bahamas
Straw Market

EDITOR, The Tribune.

FOR decades now the straw vendors have been a vocal group
that seemed to get whatever they wanted from the Bahamian
government, but this has changed in recent years.

After the fire of 2001 that destroyed the straw market, a tent
was erected for them with promises of building them a new mar-

ket.

The government changed in 2002 and there was another

five years of promises.

The government has changed again and the contract entered
into in early 2007 was cancelled so the vendors could supposedly
be "given" a market that better suits their needs.

Now the vendors have been told they will be moved from
their rat infested tents to temporary facilities until: this new
market can be built. This has brought out a chorus of naysayers

from the ranks of the vendors.

Of course the years since 2002 have seen protests from var-
ious groups of vendors sympathetic to one political party or the
other saying they are not getting what they deserve.

Well believe it or not there is a permanent solution.

The straw vendors should submit an offer to the govern-
ment to buy the property where the proposed market is to be
built, and erect their own edifice that they will have to maintain
themselves, just like every other business person has to do.

Then they do not need the government to spend taxpayer dol-
lars on a building that most Bahamians are not entitled to use,
even though it is to be built with taxes paid by all Bahamians.

Better still, the government would no longer be able to tell
them where they will ply their wares, solving an obvious prob-
lem for them...not being able to get their way with other people's

money.

Now don't tell me that the vendors can't afford to do it.
Many of them have children that are lawyers and doctors and
they were educated by the money earned by the straw ven-

dors.

It would probably surprise the vendors themselves what
they could accomplish by pooling their resources to build a
market. All it takes is the vendors making the éffort to make it

happen.

Ownership would make each vendor take more pride in
their stalls and surroundings instead of what exists today.

That way, the county's tax dollars can be used to pay down
the debt and more. Maybe the tax burden on Bahamians can

even be reduced?

Frankly, that's the only sensible solution I see.

How about you?
Yours in Liberty,

RICK LOWE
Nassau,
June 24, 2007.

Pe?



tems -

THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 5





Seven face
charge of
marijuana
possession

SEVEN people — includ-
ing two juveniles — were
arraigned in Magistrate's
court yesterday on a drug
possession charge.

The accused, Shuniqua
Evans, 32, and Jammica
Rolle, 20, both of Nassau Vil-
lage, along with Anastacia
Evans, 31, and Ravette Eden
of Pinewood Gardens,
Harvette Roker, 28, of Yel-
low Elder Gardens, and a 14-
year-old girl and 16-year-old
boy were arraigned before
Magistrate Carolita Bethel at
Court Eight Bank Lane yes-
terday.

It is alleged that on Thurs-
day June 21 the accused were
found,in possession of a
quantity of marijuana which
authorities believed they
intended to supply to anoth-
er. The accused are alleged
to have been found in pos-
session of three pounds of
marijuana, which police
reportedly found while
searching a home in
Pinewood Gardens.

The two juveniles pleaded
not guilty to the charge and
were granted bail in the sum
of $7,500 each. The adults,
who also pleaded not guilty,
were remanded until
Wednesday when a bail hear-
ing is scheduled to take place.

Three held
after police

discover
machine gun
FREEPORT - Ginia

Bahama Police are investi-
gating a shooting in the Bruce
Avenue area, where a 23-
year-old man was shot in
broad daylight Monday after-
noon.

According to police
reports, Keno Wallace, a res-
ident of Bass Lane, was dis-
covered around 1pm on the

‘ground at Bruce Avenue with

a gunshot injury to his left
ankle. He was rushed by pri-
vate vehicle to the Rand
Memorial Hospital.

Wallace is detained in hos-
pital. His injury is not life-
threatening.

Chief Superintendent of
Police Basil Rahming said no
motive for the shooting has
been established as yet.

Central Detective Unit
officers have launched an

. investigation into the inci-

dent.

Share
your
news

Call us on 322-1986 and
share your story.



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LOCAL insurance compa-
nies are putting the economy at
risk by not having hurricane
evacuation plans in place, it was
claimed yesterday.

Their failure to prepare prop-
erly for a major storm means
the post-hurricane claims
process would collapse, bringing
business and services to a halt.

This grim forecast came from’

Darren Adler, Nassau chief of
Humanitarian Operations,
which organises large-scale
evacuations in advance of major
hurricanes.

The result of their lack of an
evacuation strategy meant they
would be unable to deliver the
services which are expected and
paid for via premiums by their
clients, he said.

Mr Adler said insurance firms

LOCAL NEWS

- Insurance firms are accused of
negligence by hurricane planner

Companies should have evacuation plans
to facilitate claims, says agency chief



covering business and domes-
tic premises in Nassau needed
to have a plan in place to ensure
staff and data could be evacu-
ated in advance of a storm.

This would enable them to
respond from outside the coun-
try to policy holders’ claims and
ensure a quick economic recov-
ery.

“Rlsewhere in the world,
insurance companies would be
required to evacuate both per-
sonnel and data,” he told The
Tribune.

“They set up office in a hotel or

‘somewhere and operate comput-.

ers there to run a claims service
and process claims,” he added.

Once the storm had passed,
the firms would redeploy staff
back into the Bahamas with
satellite phones to begin the
claims process. “In the US this
is commonplace,” he said.

Mr Adler’s concerns about
Nassau’s insurance companies
came during his outline of a
doomsday scenario if a Catego-
ry Five hit on the capital.

He said an 18-foot sea surge
from a top-ranking storm would
swamp the island. Everyone
within 20 to 25 feet of sea level
would be at risk; he claimed.

He said most major insurance
companies in Nassau had no
plans to evacuate staff in a Cat-
egory Four or Five emergency.

This meant they would them-
selves become victims of the
storm and be in no position to
help clients restructure homes

_and businesses in the immediate

aftermath.



i

“This lack of a claims process
will do more damage to the
economy than the hurricane
itself,” he said.

“Ttis a head-in-the-sand atti-
tude which means that people
who need food and water after
a major storm will be in no post-

tion to earn the money to buy |

them.

“If people can’t work and
there is no food available - and
foodstores can’t be rebuilt -
because of the lack of a claims
process, the economy will not
start. This attitude has got to
change — it is gross negligence
on behalf of their clients.”

Robin Hardy, co-ordinator
for the Bahamas General Insur-
ance Association, chose to

reserve comment on behalf of

the association for the moment.

18 Cubans found on
speedboat by US
Coast Guard cutter

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Eighteen
Cubans were apprehended on
Sunday on board a speedboat
off the south-west Bahamas.

The capture was the result of
a joint operation between the
Royal Bahamas Defence Force
and the United States Coast
Guard.

A press release said Bahami-
an Defence Force officers and
Coast Guard officials onboard a
US Coast Guard cutter, Torna-
do, apprehended the Cubans
off Elbow Cay.

After the cutter spotted a 26-
foot speedboat in the area, a
chase ensued, and the speed-
boat ran aground off Elbow
Cay.

During a search of the ves-
sel, officials discovered the
Cubans. Both vessel and crew
were taken to Grand Bahama,
where they were turned over to
the immigration officials for fur-

ther processing.

This is the second time with-
in the past three weeks that a
member of the RBDF assigned
to a US Coast Guard cutter has
been successful in apprehend-
ing Cubans within Bahamian
waters.

The operation is in accor-
dance with the Ship Riders’
Agreement between the gov-
ernments of the Bahamas and
the United States which allows
Coast Guard vessels to patrol
Bahamian territorial waters
with elements of the Defence
Force on board.

On June 5, three Cuban
Americans suspected of illegal
smuggling were arrested near
Elbow Cay by the US Coast
Guard Cutter Bonito. They
were taken to New Providence
and turned over to immigration
officials.

Leading Seaman John Delan-
cy had been assigned tor Sea
Rider duties in both these inci-
dents.

Woman still seeking
end to brutality claim

A woman who claims that she
was brutally assaulted by a
police officer nearly two years
ago says that she is still seeking
resolution to the matter.

Mrs Odell Newton, 35, of
Rupert Dean Lane, says that
she wants the officer who
assaulted her in August, 2005,
to face disciplinary action and
pay for her medical as well
attorney fees.

A doctor's report, issued by
The Public Hospital Authority,
indicated that Mrs Newton
received a soft tissue injury to
the left side of her face. More-
over, the report indicated that
she was seen eight days later by

a physician, because she was ©

complaining of numbness on

. the left side of her face, as a

result of the injury.
As highlighted in an earlier

Independ

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interview with the Tribune, Mrs
Newton claimed that in August,
2005, the officer brutally
slapped her on the left side of
her face while at a police sta-
tion.

She was subsequently
charged with obstruction, but
that charge was later dropped,
according to a court document.
Mrs Newton claims that she
made a complaint against the
officer to the police complaints
and corruption’s branch of the
Royal Bahamas Police Force
shortly after the incident and
produced a letter from the
branch which acknowledged
that her complaint was being
investigated.

Mrs Newton claims, howev-
er, that since then she has not
received a favourable response
in regard to the matter.





WU Changsheng (far left), Ambassador of the People’s Republic of China to the Bahamas,



paid a courtesy call on Governor General Arthur Hanna at Government House yesterday. Mr
Hanna is shown presenting a gift to Ya Fei He (right), assistant minister of foreign affairs, —

People’s Republic of China.

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E TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 7

UE

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PAGE 8, TUESDAY, JUNE 26, 2007

THE TRIBUNE



a a TASS ee as
Foulkes lays out plans for the

revitalisation of GB economy

@ By Bahamas Information
Services

FREEPORT — Labour and
Maritime Affairs Minister Dion
Foulkes on the weekend told
Grand Bahamians that his gov-
ernment understands the sig-
nificant role that their island
plays in the social and econom-
ic life of the Bahamas and that
his ministry is prepared to give
it the attention it deserves.

Speaking at a press confer-
ence at the Office of the Prime
Minister in Freeport on Satur-
day, Mr Foulkes said his goy-
ernment will be expanding the
Labour Office and the Port
Department and that the Board
of the Bahamas Maritime
Authority is exploring the pos-
sibility of establishing a pres-
ence in Grand Bahama.

“The FNM Government will
bring together domestic and
international stakeholders to
create a master plan to capi-
talise on our marine resources,
strong legal and political insti-

tutions and business friendly
environment.

“As we did in tourism and
financial services, we will call
on the advice and resources of
international partners. But we
must create or own Bahamian
vision,” he stated.

According to Mr Foulkes, this
will include placing Bahamians
in more positions of authority in
various areas of the maritime
services industry.

“One example is the inclu-
sion and empowerment of tal-
ented Bahamians in the
Bahamas Maritime Authority,
which falls within my portfolio.

“We must ensure that our
vision creates a diversity of busi-
ness, educational and employ-
ment opportunities for Bahami-
ans at every level of society. We
must achieve these goals in a
manner that is environmentally
sustainable,” he said.

Mr Foulkes also said that his
government will devise and
review legislation that will
expand the maritime services





@ LABOUR and Maritime Affairs Minister Dion Foulkes dur-
ing a press conference at the Prime Minister's office in Freeport
Jast Saturday. Pictured left to right are Senator Foulkes; Senator
Kay Smith, parliamentary secretary in the Office of the Prime
Minister; and Harcourt Brown, Director of Labour.

offered by the Bahamas.

“We are especially keen to
promote linkages between the
tourism, financial and maritime
services sectors.

“The need for trained

(Photo: BIS/Vandyke Hepburn)

Bahamian labour to work at the
port, the ship repair facilities
and in other areas of maritime
services is a priority for the
FNM. I will collaborate on this
with the Minister of Education

and the corporate sector,” he
said.

Mr Foulkes was in Grand
Bahama on Saturday holding
meetings with a number of lead-

ing companies and unions,

including the Ginn Corporation,
Our Lucaya, the Grand
Bahama Chamber of Com-
merce, the Freeport Container
Port, Grand Bahama Shipyard
and the Grand Bahama Power
Company.

During the meetings, Mr
Foulkes discussed his govern-
ment’s policy and initiatives as
well as addressing the concerns
of employees and employers.

The minister said he plans to
consult with unions and
employers in Grand Bahama on
a regular basis to continue the
dialogue.

Accompanying Minister
Foulkes to Grand Bahama for
the meetings were Director of
Labour Harcourt Brown,
deputy director Josephine Ben-
nons and their legal counsel
Cherita Symonette.

National drug council |
announces its new
three-year slogan

THE Bahamas National
Drug Council is celebrating 22
years in existence with its new
three year slogan “Do Drugs

Control Your Life? Your life.

Your community. No place for
drugs”

The organisation is dedicated
to eliminating the scourge of
drug use, abuse and illicit traf-
ficking in the the Bahamas,

The council joins the United
Nations and other National

Drug Councils in the region in

recognising the International

Day Against Drug Abuse and

Trafficking on June 26, 2007,
This day commemorates and

recognises all those individuals

a en

007 CreativeRelations.net

who have fallen to the tyranny
of this epidemic.

A statement from the
Bahamas National Drug said:
“Drugs destroy our communi-
ties and everything positive

‘about a country. We as a people

need to ensure that our future
leaders and nation builders do
not fall prey to this vicious ani-
mal of drugs.”

The council’s programme is
geared towards raising aware-
ness about drug use and abuse
in our society, as well as illicit
drug trafficking. The goal of this
campaign is to inspire and

mobilise support fer drug con-
trol’ nig

sine i
as BiSppan STEER VE



@ TOURISM and Aviation Minister Neko Grant met with Grand Bahama Chamber of Com-
merce president Christopher Lowe on Friday. Pictured left are Kevin Seymour, first
vice-president GB Chamber of Commerce; Sammy Gardiner, Tourism and Aviation; David
Johnson, Tourism; Mercynth Ferguson, GB Chamber of Commerce; Archie Nairn, permanent
secretary, Tourism and Aviation; Mr Grant; Mr Lowe; Jeritzan Outten, Tourism and Aviation;

ea |

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Kerry Fountain, Tourism and Aviation; and Terrance Roberts, Tourism and Aviation.
. (Photo: BIS/Vandyke Hepburn) -





' Castro: Bush
‘authorised
and ordered’
ny death

@ HAVANA

FIDEL Castro on Monday
accused President Bush of
“authorising and ordering”
an attempt on his life,
although his essay on the sub-
ject provided no details,
according to Associated Press.

American law now prohibits
the US government from
ordering the assassination of
foreign leaders, but declassi-
fied US documents. have
shown that the CIA made
numerous attempts to kill Cas-
tro in the early years after the
1959 Cuban revolution.

Castro’s essay noted that US
President Gerald Ford signed
an order banning official assas-
sinations, and said he didn’t
believe that Presidents Jimmy
Carter and Bill Clinton ever
tried to have him killed.

But Castro alleged that
Bush has other ideas.

Now 80, Castro hasn’t been
seen in public in the 11
months since he underwent
emergency intestinal surgery.
Cuba’s provisional govern-
ment is being led by his
younger brother Raul while
he recovers. Meanwhile, he’s
become a prolific essay writer.
In one, on May 29, Castro
accused Bush of renewing US
attempts to assassinate him.

“T’m not the first, nor will I
be the last, whom Bush has
ordered to be deprived of
life,” Castro wrote then.

His latest essay referred to
that May 29 allegation.

“Why did I say one day ina
reflection that Bush autho-
rised or ordered my death?
This phrase can seem ambigu-
ous-and imprecise,” Castro
wrote. “Perhaps it would be
more exact, although even
more confusing, to say that he
authorised it and ordered it.”

Castro promised to explain
himself, but never did, writing
only that “really it is a mys-
tery to name those responsi-
ble for the hundreds of

i attempts on my life, all the

direct and indirect forms to

_,cause my death were used."

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THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 9



“Christie: PM
has to continue

PLP work left
in place for
Bay Street
FROM page one

had taken more than four

years in planning, was a
,“fatal mistake.”

“The sad thing about it is,

this government, upon com-

ing to power, made almost a

‘fatal mistake in coming to

power and looking back

-instead of looking forward.

And fatal because it has mis-
led them without thinking,

,dismissing four years of

work and planning that was
sort of integrally related to
the overall master plan of
transforming the city of Nas-
sau and giving everybody a
breath of life. And the peo-

. ple here, who own those

shops, will not let him go.
‘He has no choice. Let me

’ just say it now, no choice.
. For him, he cannot discon-
‘tinue the work we were

doing. He cannot. I don’t
care how he tries to delay it,
how he tries to change it, he

» has to continue the work we

were doing. The work is too

'. important. It is the lifeline

to the future of this island,”
Mr Christie said.

-The former prime minis-
ter said that more and more
tourists will not be happy in

- coming to Nassau unless the

improvements outlined in
the revitalization of Bay
Street — which included the
relocation of the container
port — are accomplished.
To this, he said, the PLP had
an extraordinary approach
to bring about such a change
that Nassau would be the
greatest destination in the
Western Hemisphere.

Dialysis

campaign
FROM page one

by’s International Realty.

Speaking on behalf of Family
Guardian & Bahama Health,
Linda Jarrett, vice president of
the company said that Family
Guardian was “happy to support
this very worthy health initiative.
Our company, through Bahama-
Health, is well-acquainted with
the needs of patients with kid-
ney disease. With this donation
earmarked for the purchase of a
dialysis machine, we are happy
to be a part of this important
effort to bring assistance to
-Bahamians facing serious health
issues."

Nick Damianos was also
pleased to assist the campaign
with a donation of $5,000 on
behalf of Damianos Sotheby’s
International Realty.

FROM page one

port overnight, allowing passengers more
opportunity to explore the downtown
area,-and thus spend their valued dollars
in shops and restaurants on Bay Street.
According to earlier published reports,
“stopover visitor arrivals fell by 5 per
cent”, or to 389,597 visitors between Jan-
uary and March this year as compared to

Tourist arrivals

the country in 2006 failed to reach pro-
jected expectations which has many wor-
ried about tourism figures for 2007.

Mr Frank Comito, Executive Vice
President of the Bahamas Hotel Associ-
ation, has “no predictions” on visitor
arrival numbers for the remainder of
2007, but states his association is “moni-

number of visitors should increase during
the summer months, hopefully exceeding
previous expectations, in’ the hope that
the “summer season will [gain] momen-
tum from the US Labour Day,” ‘and
beyond. Mr Comito also said that the
passport restrictions on North American
travellers is one of many reasons for a
decline in visitors to the country. How-
ever, the Caribbean region as a whole is
experiencing a sharp downturn in visi-

[tourism] industry as a regional market,
now we are seeing a global tourism
game,” Mr. Comito added. This supports
the theory that many travellers are seek-
ing vacations in Europe instead of the
Caribbean.

When asked what measures the
Bahamas Hotel Association has in place
to counteract dwindling tourism num-
bers, Mr Comito said that customer ser-
vice training was the Association’s main

last year’s figure of 409,077. Arrivals to

FROM page one

that Robins had died as a result
of blunt force trauma to the
head.

Yesterday lawyer Elliot
Lockhart, who appeared on
behalf of Farrington's new court
appointed lawyer, Wayne
Munroe, applied for an adjourn-
ment. He told the court that
Munroe had indicated that he
was not yet prepared to proceed
with the appeal. The prosecu-
tion made no objection to the
adjournment and Thursday, Sep-
tember 20, has been set as the
new date for the hearing.

Lawyer Romona Farquhar-
son, who represented Farring-
ton at his Supreme Court trial
but was removed from his Court
of Appeal case three months
ago, received strong words from
Court of Appeal President
Dame Joan Sawyer again yes-
terday. Ms Farquharson, who
appeared with Mr Lockhart, left

toring the situation.”

Adjourned

the court room after Justice :
Sawyer asked why she was there :
having already been removed :
Justice Sawyer }
noted that Ms Farquharson had :
been instructed to turn the case :
files over to Mr Munroe, which :
Mr Munroe had not received :
until late last week. Justice :
Sawyer said that Ms Farquhar- :
son had been removed from the :
case because she was not acting }
in the best interest of her client. ;

However, Ms Farquharson :
told the 7ribune yesterday that }
she did not understand the ratio- }
nale for having to excuse herself:
from the courtroom. "I just don't :
"Why }
can't junior counsel sit and assist:
senior counsel? If the court is of }
the opinion that I didn't follow :
the correct procedure then why :
not let me sit and learn the prop- :

from the case.

think it’s fair," she said.

er procedure?" she asked.

AG slams the PLP

FROM page one

condemn this statement as it influences society’s ideas of the
impartiality of the judiciary in a negative way.

The independence of the judiciary is also protected by the
fact that the judges’ salary and pension is set by the recommen-
dation of an independent commission. It is only in rare cases that
this recommendation is ever to be rejected by parliament. The
FNM added this section to the law in 2000. This review of judges’
salaries and pensions failed to happen twice under the PLP gov-

ernment.

Other changes projected to happen in the judiciary is the addi-
tional appointment of criminal and commercial law judges, and
reviewing the terms and services of judicial offices to make cer-
tain that conditions of service are sufficiently rewarded. This
addresses the concern that if higher judicial officials are not
appropriately rewarded, the Bahamas will fail to attract highly

qualified officials.





He added that the

S Sy
x

tors.

FROM page one

the complaint."
He stated that unless in

“a matter of argument."

On Sunday, Mr Ingraham said: "We are just pleased though,
that the things about which (the PLP) complain are things that
the government did, and so the burden of paying legal bills will
rest with those who had the responsibility, not us."

The PLP is contesting three seats, Blue Hills, Marco City and
Pinewood. Documents were filed over a week ago to initiate
the legal proceedings, although a date has not yet been set for

the court hearings.

It has been estimated that each seat éonitested could cost the
losing party more than $100,000 in legal fees. In 2003, having
lost the MICAL seat to the PLP in the election court, the
FNM had to pay $230,000 to the PLP.

FROM page one.

that because the harbour's turning
basin was too small for their larg-
er "Freedom Fleet" vessels — due
to enter service this year — the
destination would be dropped

from their itineraries.

Mr Foulkes said that no action
was taken in response to this
information, received in two let-
ters from Royal Caribbean Cruise
Line in 2004 and 2005.

In the letters, the line outlined
the fact that the dredging of Nas-
sau harbour was
they were to continue their ser-
vice to this country.

The Cunard Line, the company
which owns the Queen Mary 2

“Before we talked about the

Lawyer

costs). The court has to examine the whole issue that involves

"exceptional circumstances" it
would be the party which loses the case in election court that
is required to pay legal costs, however he did not elaborate on
what such circumstances might be, stating only that it would be

"imperative" if

focus.

Man in court
FROM page one

Lightbourne, 29, of Sunlight Village,’

reportedly died as a result of gunshot

wounds to his head. The shooting

occurred in the area of East Street.
Lightbourne was reportedly found

lying between a house and a fence, some

200 feet from the Church of God of
Prophecy, East Street. Court dockets fur-
ther state that, on that same day, Cun-
ningham also attempted to cause the
death of Quincy Glinton Cartwright.
Cunningham, who was not represented
by counsel yesterday, was instructed by

Magistrate Gomez that he was not

PLP govt

ship — the largest passenger liner
ever built — even offered to
dredge the harbour at their own
expense to accommodate that
boat, said Mr Foulkes, however
this never happened, meaning that
this ship also will be unable to call
into Nassau.

Describing tourism as the
"lifeblood of the Bahamian econ-
omy", Mr Foulkes said that com-
munication from the Royal
Caribbean indicated that as the
government had neglected the
issue, the line had been forced to
move to European, South Amer-
ican and Alaskan destinations.

required to plead to the charges.

The matter was adjourned to July 23
and transferred to Court Nine, Nassau
Street.

They have now booked all their
cruise stops until 2009, according
to information the minister has
received, meaning that even if the
harbour's turning basin were
dredged these ships could not
return to Nassau until this time.

The pull out of this line from
Nassau represents a 5.7 per cent
drop in the Bahamas' total annu-
al cruise visitor figures, repre-
senting some 166,756 tourists and
an estimated $9.338 million in vis-
itor dollars.

The former Minister of Trans-
port and Aviation Glenys Han-
na-Martin spoke out yesterday in
response to remarks from Minis-
ter of Tourism Neko Grant on the
subject — see page three.

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“As a company,” he said, “we
felt it was important to assist
those persons who currently rely
on dialysis treatment at PMH."

Additional donors will be pub-
lished in tomorrow’s Tribune.

®@ DAMIANOS DONATES — Nick Damianos (right) of Dami-
anos Sotheby’s presents a cheque for $5000 to Mark Roberts, Tile
King & FYP Ltd., whose idea it was to launch the fund to raise
funds to purchase eight dialysis machines for the Princess Margaret
Hospital. The goal was to raise $164,000 to purchase the machines.
This week the campaign surpassed its goal.

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PAGE 10, TUESDAY, JUNE 26, 2007



TUESDAY EVENING
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|
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THE TRIBUNE

Let Charlie the
Bahamian Puppet and
his sidekick Derek put .

some smiles on your
kids’s faces.

Bring your children to the
McHappy tlour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of June 2007,

Enjoy Great Food, Prizes and Lots of Fun

i'm lovin’ it

Movie Gift Certificates
make great gifts!



ae@eoenee's

nae

B+ ee ee

|... Ss
25 & & wan

=

DR e ee.



THE TRIBUNE TUESDAY, yuive 20, 2007, PAGE 11

te

PRP EIS 29 > eee Ow a CREE EE ASEN BS Se Cae BT SESE C0 | OIG EINE Ce PNR iS OLIN Mr iy TO LIE PRON BEART See a aT errata oa

Anniversary

j

aaa









Baie eeeien
<

A part of your life and The Bahamas since 1927

June 26th - July 2nd, 2007

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PAGE 12, TUESDAY, JUNE 26, 2007



YOUR CONNECTION. TO THE WORLD

THE TRIBUNE

JUNE 26, 2007



The Bahamas Telecommunications Company Limited



BTC CEO Addresses the 11th Annual

CEO Network Conference

The. Centre for Excellence &
Opportunity (CEO Network) held its
Eleventh Annual Conference at. the
British Colonial Hilton, under the
theme “Raising the Standard
Through Innovation”. During the
three day conference, international
and local speakers from various
industries gave informative
presentations on Wealth Creation,
Innovations Through Tele-
communication, How to Increase
Ownership with Limited Resources,
Investment/Pension Plan and many
more.

During the second day of the
conference, Mr. Leon Williams,
President & CEO of the Bahamas
Telecommunications Company Ltd
(BTC), gave . an informative
presentation on the recent and forth
coming changes at BTC, which will
affect more than : just
telecommunication but the way in
many organizations conduct their
daily operations. Based on recent
statistics, the Bahamas with a
meager population of Three
Hundred and Five Thousand people;
is ranked One Hundred and Twenty-
Seventh in the world's population

but has a strong ranking for
landlines service. It is estimated that
Forty-Two out of every One
Hundred persons in the Bahamas has
a landline telephone. Additionally,
BTC is ranked number one in the
Caribbean, number three in the
America's (entire western hem-
isphere) and thirty seventh in the
world for telecommunication
services.

Mr. Williams gave even more
staggering statistics, as there are
more than One Hundred and Fifty
Thousand GSM customers within
the Bahamas. During peek hours it
is estimated that Fifty Eight calls are
made per second using the GSM
platform, and One Hundred and
Twenty text messages are sent per
minute also, during this period. Mr.
Williams gave an eye opening
example, of how BTC is positively
affecting the way business is
conducting in’ globalization 3.0.
BTC has given Bahamas Water and
Sewage Corporation the use of SIM
Cards, in turn Water and Sewage
uses these SIM Cards to check the
water level in the water tower. In the

past an employee would have had to

be lower into the tower to get a
reading. With the continuous
innovation in technology, this is no
longer needed. Mr. Williams
reiterated that this improvement in
technology can also lead to a
decrease in physical labour careers
and warns that organizations should
work hand in hand with employees
to insure that there is a balance and
that employees are trained in every
aspect of their department and the
organization as a whole.

Presently, BTC offers a wide
range of services to the public
locally and internationally such as:
GSM, BlackBerry. and CDMA
Roaming, this allows cellular
customers to send and receive calls
in more than Fifty Three countries
around the world. VIBE (Voice
Internet Bahamas Electronic), BTC's
service that allows domestic and
international long distance calls via
the internet at one flat rate. GRPS,
EDGE and EVDO affords users the
convenience of internet access no
mater the location, whether home or
abroad.

BTC Your Connection To The World








































4



The Tribune

TUESDAY, JUNE 26, 2007

B BUSIN



Diba

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

ESS



FREEPORT OFFICE
Tel: (242) 351-3010



business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street





Bahamas urged to target
Middle Eastern investors

* Businessman urges aggressive marketing to attract high-net worth individuals from increasingly
unstable region, as ‘petrodollars’ can boost Bahamian businesses and wider economy
* Says nation cannot just rely on United States, Canada and traditional markets.

B@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas must

target wealthy

investors from the

Middle East to

relocate to this

nation and invest in its busi-

nesses and economy, a Bahami-

an-based business executive has

urged, with that region’s ever-

increasing instability likely to

prompt a search for capital and
investment ‘safe havens’.

Tony Joudi, president of con-

struction, development and pro-

ject management firm, FTC,

said high net worth families and
investors from countries flush
with surplus ‘petrodollar’ assets,
such as Saudi Arabia, Kuwait
and the United Arab Emirates,
were currently seeking stable
countries where they could
invest and base themselves.

He added that the Kuwaiti
Ambassador’s visit to Nassau
in early April 2007, when he
presented his diplomatic letters
to the Governor-General, could
have been part of the process
where Middle Eastern leaders
and businessmen were assess-

Dealers report new
car sales off by up
to 50 per cent

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

CAR dealers yesterday
reported a significant drop in
new vehicle sales over the last
few months, with one saying
sales were down 50 per cent in
June compared to 2006,
although no underlying causes
have been identified.

Tribune Business spoke with
several dealers, all confirming
their numbers were down, with

one saying their company has |

sold less than 50 per cent of the
inventory they sold during the
same period last year.

‘ The dealers all requested that
their names and companies not
be mentioned, but one said: “I
can’t say how much exactly, but
it is quite a bit compared to last
June. We have noticed this from
right before the election, and
we first thought that it might be
the aftermath of the election,
but we’re not sure what is hap-
pening now.”

Another dealer added that
although new car sales numbers
were down, “there really is no
logical reason” for this. “There
is supposedly money available

ELEUTHERA #3102

and inventory available, and the
economy is supposed to be in
great shape,” they added.

The dealer said the summer
months tended to be a bit slow-
er, which is usually attributed
to the fact that during this peri-
od persons are saving to go on
vacations with their families.

He added that another fac-
tor might be that sales of sec-
ond-hand, relatively less expen-
sive Japanese right-hand drive
vehicles were increasing and
taking away from the new car
market.

A third dealer agreed that all
these reasons might be factors
contributing to the decline.

He said that according to
Bahamian commercial banks,
there was enough system liq-
uidity to facilitate borrowing.

“There has been a decline,
which is what we are hearing
from some of the other dealers,
but it is hard to say why this is
so,” the dealer said.

He added that while his com-
pany had seen a slow down
recently, they remained on tar-
get for the year’s projections.

“We track our floor invento-
ry and it is not declining, so we
really cannot put a finger on it,”
the dealer said.

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ing individual countries for their
suitability as alternate homes
and investment locations as ten-
sions rise across that region. -

Among the factors stoking
fears of instability across the
Middle East are Iran’s suspect-
ed nuclear programme and the
likely response of the US, Israel

‘and their western allies; the

ongoing insurgency and ‘civil
war’ in Iraq that could split the
country apart; the recent fight-
ing between Hamas and Fatah
that has split the Palestinians
apart (an agressive Israeli
response lurking in the back-

ground); and the continued ten-
sions in Lebanon.
One one side appears to be

~ Iran, Syria and their proxies,
and on the other the US, Israel °

and their proxies, with a host
of Bin Laden-inspired Islamic
extremists also in the mix.

Mr Joudi told Tribune Busi-
ness that wealthy Middle East
investors were seeking coun-
tries that were politically and
economically stable, and pro-
vided an attractive investment
and taxation climate, all char-
acteristics the Bahamas pos-
sesses.

He said: “They’re sending
their ambassadors out now to
check the viability of these
economies. The Bahamas will
be a similar climate in terms of

culture and wealth. They’re

very well educated and speak
English.”

The Bahamas has figured
prominently before on the radar
screens of wealthy Middle East-
ern investors. This nation pro-
vided a refuge for the deposed
Shah of Iran and his family in
the early 1980s, and the Atlantis
casino on Paradise Island has
proved an attrractive destina-

tion for Middle Eastern high-
rollers.

The Bahamas’ proximity to
the US, and location on the east
coast in the same timezone in
New York, are likely to prove
further advantages when it
comes to attracting billionaire
and multi-millionaire investors
from the Middle East.

“We need to promote the
Bahamas, go out there, take the
Chamber of Commerce, the
Minister of Tourism, the Minis-

SEE page 7

Tourist spending falls $13m in ‘06

@ By NEIL HARTNELL
Tribune Business Editor

TOTAL tourism
spending in 2006 fell by ~
less than | per cent
against 2005 compara-
tives, declining by $13
million to $2.056 bil-
lion, but the Ministry
of Tourism’s director-
general last night
warned that the indus-
try was facing “rough”
times and Bahamians
had their “work cut
out” to halt its slide.

Vernice Walkine told the Kiwanis AM
Club that while total visitor spending had
fallen only slightly from 2005’s $2.069 bil-
lion, other indicators painted a more trou-

Patricia



@ WALKINE

Director-general: Bahamas has ‘work cut out’

petitiveness.

Real Estate Agent

bling picture, namely that the Bahamas’
number one industry was losing its com-

While air arrivals had risen by 4.4 per
cent for 2005 as a whole, they had fallen by
5 per cent during the 2007 first quarter - a

_cause for concern given that air or stopover
visitors generated 90 per cent of the
Bahamas’ tourism spending.

Ms Walkine reiterated that some factors
contributing to the stopover decline includ-
ed the impact of the US passport regula-
tions contained in the Western Hemisphere
Travel Initiative (WHTI); loss of the Roy-
al Oasis’ 1300-rooms and some $270 million

to halt industry’s slide into ‘rough’ times

in per annum visitor spending on Grand
Bahama; and the fact that this nation’s room

inventory was expected to decline by 10

per cent this year due to situations such as
the Nassau Beach Hotel’s closure.

While the Bahamas had been successful
in attracting low-cost carriers such as Jet-
Blue, Spirit and WestJet to start flying to
this nation, Ms Walkine pointed out that
over the past two years these airlines had
also begun to serve Bermuda, the Domini-
can Republic, Turks & Caicos Islands, Aru-

SEE page 7

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PAGE 2B, TUESDAY, JUNE 26, 2007

THE TRIBUNE



eee Pee i

‘Exchanging’ a Budget for
crucial economic reforms

ey) Botte Ae a a



- alloywheels
radio, CD nae

or the past several
weeks now, we have
been able to witness
debate in both the
House of Assembly and Senate
on the 2007-2008 Budget. As is
customary, the debate gave par-
liamentarians the opportunity to
comment on the allocations
made and the underlying priori-
ties implied by such allocations.
What was most interesting
was the difference of opinions
expressed on certain items. In
some cases, one side would refer
to something as being visionary
and beneficial to the Bahamian
masses, while the other side
would describe the same item as
being scandalous and a waste of
public funds...herein lies the
nature of politics.

Pre-election wish

Prior to the May 2, 2007, gen-
eral elections, I often comment-
ed that I would like to see a
strong opposition in the new
Parliament, as I consider a
strong opposition as essential to
the process of deepening democ-
racy.

Having got my wish, I now
have to ask myself: what is the
role of the opposition? Is it their
job to simply oppose everything
the Government proposes, or is
it their job to develop and clear-
ly articulate a viable alternative
to what they are objecting to?
This is an important question,
as opposing for the sake of
opposing is easy, and it often
does not even require rational
thought or robustness of argu-
ment. However, if the more
responsible latter approach is
taken; that is, the development
and articulation of a viable alter-
native, democracy is deepened.

Limited Policy Options

Getting back to the Budget,
my take on it is that there are
several critical areas in which
reform is needed in the Bahami-
an economy, and until those
reforms come about successive
governments will have very lim-

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Financial

- | By Larry Gibson



ited policy options as it relates to
governance. Not only are the
philosophical differences
between the parties becoming
blurred, but so too are the pure-
ly economic differences.

There are many elements of
our economy that require
reform. Who is going to step up
to tackle tax reform, which is
long overdue? The business
community is extremely opti-
mistic about the promise (or
intention) to eliminate exchange
controls. Will it actually happen
this term? How do we expand
our revenue base? To what
extent can we control expendi-
tures? How do we reduce the
public sector without causing
massive social dislocations?

I did not hear too many of
these types of issues being
addressed generally in the bud-
get debates in either the House
or the Senate. So for me, it was
pretty much business as usual.

Exchange Controls

I believe the eventual elimi-
nation of exchange controls has
the potential to be a transform-
ing event for the Bahamian

economy. I would recommend -

that we consider the following
actions as our next steps in the
process of exchange control
relaxation.

1. Amnesty

Now that our Central Bank
has started the relaxation of con-
trols on money going out of the
Bahamas for Capital Account
purposes, the next emphasis
should be on creating strategies
and policies to encourage
Bahamians to repatriate at least
the earnings and dividends (if
not portions of the capital itself)
on Bahamian-owned foreign



currency assets abroad.

To achieve this, I would rec-
ommend that we declare an
amnesty on all foreign currency
assets and bank balances held
abroad by Bahamian citizens.
The existence of computers
makes it very easy for banks to
track foreign currency that is
repatriated. Further, delegating
this function to commercial
banks would remove ‘red tape’
and improve efficiency. I would
even recommend going one step
further and guarantee future
convertibility at par on all funds
brought back into the country
under the amnesty.

While the amnesty is in effect,
there could be a temporary
apause on making any further
moves on capital outflows. This
would give the Central Bank the
opportunity to properly assess
the true situation, and provide it
with an opportunity to fine tune
its policies.

2. Personal Allocation

The second initiative I would
recommend is to grant each
adult a personal allocation of,

say, $10,000 per annum initially, -

for Whatever purpose they wish.
Over time this could be
increased until exchange con-
trols are eventually eliminated.
The annual allocation would not
be cumulative but rather a ‘use it
or lose it’ proposition.

Also, I would extend a similar:

personal allocation to approved
private pension funds, consistent
with recent measures afforded
to the National Insurance Board
(NIB).

3. Investment Currency
Market

This is an anachronism that
we can do without. As I stated
previously: “Unless we are pre-
pared to ban the use of US dol-
lars in our local economy (which
we would never do), we ought to
do away with the investment
currency market altogether.”

I believe that the above rec--:

NOTICE

ommendations, coupled with ini-
tiatives recently taken, will take
us many steps closer to our ulti-
mate goal (the elimination of

exchange controls) in a con-

trolled and systematic manner.
Further, I believe these mea-
sures will serve to promote more
long-term investment and sus-
tainable economic development.

New Members of Parliament
My final comments relate to

_the maiden presentations of

some of our ‘first-time’ parlia-
mentarians. Several of them
demonstrated that they did their
homework, and delivered well-
considered and well-presented
arguments. This was most
encouraging, and to ‘indepen-
dent thinkers’ was most wel-
come.

The electorate has every right
to expect preparation, vision
and robustness in parliamentary
presentations. To those who
took their job seriously, we
applaud them. To those who
wish to sit there and provide
entertainment, perhaps another
venue would be more suitable.

-I become quite disappointed

when more and more persons
express the opinion that watch-
ing the Parliamentary Channel is

a waste of time. This is not good .

for the deepening of democracy.
Until next week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president -. pensions, Colonial
Pensions Services (Bahamas), a

wholly-owned subsidiary of.

Colonial Group International,

-which owns Atlantic Medical

Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are those
of the author and do not neces-

sarily represent those of Colo-—

nial Group International or any
of its subsidiary and/or affiliated
companies. Please direct any
questions or comments to rlgib-

‘son@atlantichouse.com.bs _

“Parliament Place”

Comprising

Parliament Hotel,
Offices, Restaurant

& Patio



Located Parliament Street,
Downtown Nassau

Serious inquiries Only!
Tel: 325-5363 or 477-1579,







THE MARKETS
_STOCKS, MUTUAL FUNDS, 8B
pow30- 1335205 -821 W
sapsoo. 497.74 -4.82 W
‘NASDAQ 2,577.08 -1188 W
10-YRNOTE 5.08 06 W
69.18 +0.04 Ad

. ten
worries —
stifle
market

"BY MADLEN READ

- ‘Associated Press

NEW YORK — Wall Street
"gave up a big advance and
turned lower Monday as inves-
































he jitters ahead of the Federal
Reserve’s meeting on interest
ates later this week. __

The stock market, which has
‘seen huge swings in recent
reeks, was initially relieved to
hear from the National Associa-
n of Realtors that existing



























_ right now, profit-taking from

that big rise earlier this morning
what we’re seeing. The stock
market doesn’t like uncer-
ta’ tainty,’ ” said Matt Kelmon, port-







trategy Funds.

The Dow. Jones industrial
fell 8.21, or 0.06 per-
nt, to 13,352.05, after rising
‘more than 100 points earlier in
the day, and eine 185 Spon on
Friday. —

declined. The Standard &
Poor’s 500 index fell 4.82, or
).32 percent, to 1,497.74, and the
Yasdaq composite index lost

, to











gues by worries Sabout
n0r -backed securities. If
high-risk i investments are sour-
ing, investors tend to buy up
afe-haven Treasury issues.

Central bankers are widely
ected to keep the bench-
rk rate steady at 5.25 percent
ursday, but Wall Street is
ure if the Fed will alter its
tance on inflation, which could

&











ater in the year.
On. Monday, the dollar rose
_ against the euro and pound but
a against the yen. Gold prices
fa ‘Crude oil futures rose 4 cents
"to settle at $69.18 a barrel on the
New York = Mercantile
xchange, after falling to $68 a
rrel and then rising after
ws of refinery outages.
~ Gasoline futures also-
_ advanced, reigniting worries
_ that pump prices could bounce
back above $3 a gallon. U.S.
retail gasoline prices have
retreated to an average $2.978 a
~ gallon Monday, below the
- record high of $3.227 reached in
late May, according to AAA and
- the Oil Price Information Ser-
“oNice, |
oy Lhe Russell 2000 index of
smaller companies fell 7.29, or
0.87 percent, to 827.46.
Declining issues outnum-
bered advancers by more than 2
to 1 on the New York Stock
__ Exchange, where volume came
to 74 billion shares.
Overseas, Japan’s Nikkei
- stock average fell 0.56 percent.
Britain’s FTSE 100 rose 0.32 per-
cent, Germany’s DAX index fell
0.24 percent, and France’s
CAC-40 fell 0.34 percent.








tors suffered a renewed case of —



es declined in May by _
y 0 percent to 5. 99 million

wart encueh to...
stock market afloat, so.
en crude oil prices rose back —
ove $69 a barrel on news of —
: efinery_ outages, many —
lose f0 take money |

“With Dut aa BE a caaieat =

manager of the Kelmoore _

ean a rate hike or decrease a

WASHINGTON

World Bank approves

BY JEANNINE AVERSA
Associated Press

WASHINGTON — Robert Zoel-
lick, a seasoned player in interna-
tional financial and diplomatic cir-
cles, won the unanimous approval of
the World Bank’s board on Monday
to become the poverty-fighting insti-
tution’s next president.

Zoellick will succeed Paul Wol-
fowitz, whose last day is Saturday,
ending a stormy two-year tenure.
The new president will begin his
five-year term Sunday.

“I am ready to get to work,” Zoel-
lick declared shortly after the board’s
action.

Wolfowitz courted controversy
from the start because of his role in
the Iraq War when he was deputy
defense secretary. However, it was
his role in arranging a hefty pay raise
for Shaha Riza, his girlfriend and
bank employee, that forced his
upcoming departure. That prompted



INTERNATIONAL EDITION





a staff revolt and calls by for Wolfow-
itz to resign.

President Bush turned to Zoellick
— his former top trade envoy and
No. 2 diplomat — to the heal wounds
and mend the relationships strained

. by the Wolfowitz episode. Welcom-

ing the board’s
action Monday,
Bush called Zoel-
lick “a dynamic
leader who is
deeply committed
to the mission of

the World Bank.”
Zoellick, 53,
ZOELLICK brings to the

World Bank years
of experience in the foreign and eco-
nomic policy arenas under three
Republican presidents, starting with
Ronald Reagan. Zoellick left the Bush
administration last year to become an
executive at the Wall Street giant
Goldman Sachs.

AGRICULTURE



STRUGGLING BUSINESS: Gary Grose, manager of Tipton Valley Honey, speaks to the pressures of :
battling foreign competition: ‘The coup de grace? Sell us your honey at 60 cents less than you i
produced it for, or get out.’ Below, Grose scrapes the racks of hives at his Tipton, Okla., farm.

The World Bank board said Zoel-
lick brings “strong leadership and
managerial qualities as well as a
proven track record in international
affairs and the drive required to
enhance the credibility and effective-
ness of the bank.”

As World Bank chief, he’ll have his
work cut out for him. He’ll need to
regain trust, rebuild credibility and
mend frayed relations inside the
institution as well as with its member
countries. He’ll also need to persuade
countries to contribute nearly
$30 billion to fund a centerpiece bank
program that provides interest-free
loans to the world’s poorest coun-
tries.

The board said it was confident
that Zoellick will be able to “address
the challenges facing the bank.”

Of those challenges, Zoellick said:
“The world has changed enormously
since the creation of the bank some
60 years ago. This accomplished



|
|
{
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PHOTOS BY JEFF pUlon/AP

PLIGHT OF HONEYBEE

CHEAPER IMPORTS ADD TO THE TROUBLES OF HONEYBEE FARMERS
ALREADY HAMPERED BY COLONY COLLAPSE DISORDER

BY JUSTIN JUOZAPAVICIUS
Associated Press

TIPTON, Okla. — Honey has
been in Gary Grose’s blood for

| nearly 35 years.

The bee colonies in his
commercial honey operation have
weathered fire ants, drought,
mites, aggressive Africanized bees
and a host of diseases, including
one that inexplicably wipes out
entire colonies.

But his biggest challenge these
days is the glut of honey imported
annually from countries such as
China, Vietnam and Argentina,
where it can be mass-produced
faster and cheaper than Grose
could ever dream of doing in this
| rural, southwestern Oklahoma
| community of 840.

“The coup de grace? Sell us your
honey at 60 cents less than you pro-
duced it for, or get out,” says Grose,
42, the manager of Tipton Valley
Honey. “Do you realize we’re now
outsourcing honeybees, for God’s
sake?”

Foreign competition is enough

for Grose, along with dozens of

farmers with small and medium-
sized operations, to think about
cashing in now and folding dec-
ades-old businesses.

The timing couldn’t be worse.
Along with the economic factors,
farmers in more than two dozen
states are seeing bees mysteriously
abandoning their hives, a condition
called colony collapse disorder.
Scientists are trying to determine
what the cause is, while some theo-
ries range from mass infection to
climate change.

The industry has also changed
over the last 30 years. As the
United States’ population grew,
farms got smaller. People who



inherited beekeeping businesses
turned away from that type of
farming, because there was too
much labor and not enough payoff.

Today, the survivors’ saving
grace is clientele they’ve slowly
built up at farmers’ markets, gen-
eral stores and health food shops,
where customers prefer a jar of
pure, locally produced honey to
one sold at a big-box retailer for
half the price.

Some also make up losses these
days by transporting their colonies
to pollinate crops across the coun-
try, such as California almond
groves.

But it’s a risky prospect: The
bees could become infected while
in transit, middlemen cut profits
and the process comes with plenty

‘of red tape.

Signs that the United States will
continue to look elsewhere for its
honey only make matters worse for
Grose and others.

U.S. imports of the natural
sweetener have climbed steadily in
the past 20 years, as domestic pro-

{

duction has declined, according to
figures from the National Honey |
Board and U.S. Department of Agri- |
culture.

“Unfortunately in this country,
we consume more than we pro-
duce,” says Jami Yanoski, with the
National Honey Board, a Firestone,
Colo.-based industry group set up
more than 15 years ago for large-
scale honey promotion.

In 1986, the U.S. produced about
200 million pounds of honey and
imported 120 million pounds,
according to the USDA. In 2005,
production was down to 175 million
pounds while imports topped
232 million pounds.

Last year, China, Argentina, Bra-
zil, India and Vietnam accounted
for more than three-fourths of all
U.S. honey imports, according to
the National Honey Board.

Domestic honeybee farmers are
also having to do more with less.
The number of honey-producing
colonies fell from 3.2 million in 1986
to 2.4 million in 2005, according to
the USDA.

L

Zoellick

institution of development, recon-
struction and finance not only needs
to adapt; it must lead the way,” to
bring about global change to help the
world’s poor.

German Development Minister ,
Heidemarie Wieczorek-Zeul, who
was highly critical of Wolfowitz, was
one of the first to congratulate Zoel-
lick.

“He brings all of the qualifications
with him needed to successfully fill
this demanding and responsible role.
... The greatest tasks facing mankind
in the 2lst century are waiting: The
fight against poverty and climate
change,” Wieczorek-Zeul said.

By tradition, the World Bank has
been run by an American. The Bush
administration made clear it wanted
to keep that decades-old practice
firmly intact throughout the Wolfow-
itz debacle. The United States is the
bank’s largest shareholder and its big-
gest financial contributor.

BRITAIN

Hedge fund
manager
agrees to
sell itself
for $3.4B

LONDON — (AP) — GLG Part-
ners, one of Europe’s largest hedge
funds, said Monday i it is selling itself

“trina $3.4 billion reverse takeover ‘that ~

will give it access to the U.S. stock
market.

Under the terms of the deal with
Freedom Acquisition Holdings, the
combined company will be named
GLG Partners and will trade on the
New York Stock Exchange. GLG,
which is not currently traded, may
also seek a listing in Europe.

“This strategic transaction is an
important step in building GLG’s
global business, affording us the
opportunity to increase brand aware-
ness and expand in major targeted
markets,” said Noam Gottesman, co-
chief executive of GLG.

New York-based Freedom Acqui-
sition is a “blank check” company, an
investment vehicle that allows the
parent company to raise money for
acquisitions by listing on the stock
exchange. Such companies reveal
acquisitions after putting shares on
the market.

Shares of Freedom Acquisition
rose 73 cents, or 7 percent, to $11.18
Monday.

GLG, with $20 billion under man-
agement, will receive $1 billion in
cash and 230 million shares of Free-
dom common stock, the company
said in a statement. Freedom’s share-
holders will own approximately
28 percent and current GLG equity
holders will own about 72 percent of
the combined company’s shares.

“I think its another example of
securitizing the business in the same
way that private equity has been buy-
ing up” businesses, said Richard
Hunter, a broker at Hargreaves Lans-
down in London. Management is
“looking to crystalize the value of
their business.”

Freedom was founded last year by
Nicolas Berggruen and Martin E.
Franklin, chief executive of a con-
sumer products conglomerate, Jar-
den. They will both join GLG’s board
of directors.

Berggruen’s company is an invest-
ment vehicle for his family’s money,
whose assets in 2004 exceeded
$1 billion.

His grandfather, Heinz Berggruen,
was a friend of Pablo Picasso and
operated the family’s art gallery in
Berlin until his death earlier this year.
Nicolas Berggruen’s father, John, also
operates a family gallery located in
San Francisco.

High-risk and largely unregulated,
hedge funds have traditionally been
the investment domain of the
wealthy. But the funds and private
equity firms have become more pop-
ular investments because of their
potential returns.

The GLG transaction is subject to
Freedom shareholder and regulatory
approval. GLG expects to complete
the deal early in the fourth quarter.



ECTS TET SL LT TALS EY

~~



THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e RETAIL





NICK UT/AP FILE

EARNINGS: Walgreens’, the nation’s biggest drugstore
chain, net income rose to $561.2 million, or 56 cents
per share, in the quarter that ended May 31.

Walgreens: Profit
rises on generic drugs

From Herald Wire Services

Walgreens (WAG), the largest U.S. drugstore chain, said
third-quarter profit rose 20 percent on increased sales of
generic drugs and a lower tax rate.

Net income climbed to $561.2 million, or 56 cents a share,
from $469.2 million, or 46 cents, a year earlier, the company
said. Sales advanced 13 percent to $13.7 billion in the three

months through May 31. |

Walgreens’ gross profit margin expanded on demand for
unbranded versions of drugs such as sleep medication
Ambien and blood-pressure treatment Norvasc. The retailer
also benefited from a tax rate that was lower than some ana-
lysts estimated and a $3.5 million credit related to inventory

adjustments.

e SEMINOLE TRIBE

HARD ROCK TO REACH
ASIA, EASTERN EUROPE

The Seminole Tribe of
Florida plans to expand the
Hard Rock restaurant, hotel
and casino chain in Asia,
Latin America and Eastern
Europe after buying the
company this year from
Britain’s Rank Group
(RANKF.PK).

_ The tribe.aims to double

the number of Hard Rock

Cafes to about 250 and have .
about 90 hotels, Hamish
Dodds, chief executive offi-
cer of Hard Rock Interna-
tional, said. Restaurants will
open at the rate of about
eight a year and hotels at
about five a year, he said.
The tribe also plans to
expand the casino business,
starting in the United States.

e SYNTHETIC FUEL

TYSON FOODS TO MAKE
BIOFUEL FROM FAT

Tyson Foods (TSN), the
world’s largest meat pro-
ducer, announced its second
joint venture to make syn-
thetic fuel out of leftover fat
from beef, pork and chicken.

Tyson and Tulsa, Okla.-
based Syntroleum
(SYNMZ) said they will .
spend $150 million to build
the first of what could be
several plants to refine ani-
mal and vegetable fats into
diesel, jet fuel and fuel for
the military. It is the second
such venture Tyson has
announced in the past two
months.

e MEDIA

DOW JONES, NEWS
CLOSER TO ACCORD

Rupert Murdoch’s News
Corp. (NWS) appeared to
be making progress in talks
with Dow Jones & Co.
(DJ) over measures to pro-
tect The Wall Street Jour-
nal’s editorial independence.

The New York Times
and the Journal reported
that News Corp. responded
to proposals from Dow
Jones about an editorial
oversight board that would
be created to protect the
Journal from corporate
interference and that the
two sides appeared to be

‘moving closer together.

Dow Jones and News Corp.
both declined to comment.

e MERGER

BORSA ITALIANA SALE
APPROVAL ON TRACK

London Stock
Exchange Chief Executive
Clara Furse said she is confi-
dent of receiving share-
holder approval for the
bourse’s $2.19 billion all-
share takeover of Borsa
Italiana.

Furse said the deal, which
has been unanimously-.-- :
approved by both boards,
has “more than sufficient
shareholder support” among
LSE shareholders for it to go
forward.

The LSE is offering 4.9 of .
its own shares for each
Borsa Italiana share. LSE
shares were 0.4 percent
lower at $26.97. The Italian
exchange is unlisted and
owned mainly by Italian
banks.

Under the deal, the two
exchanges will remain sepa-
rate entities, reflecting the
distinct market profiles,
combined under one group
with a value of $7.76 billion,
the companies said ina
statement outlining terms of
the deal.

e TRADING

BLACKSTONE SHARES
DROP AFTER IPO

Blackstone Group (BX)
shares fell 7.5 percent on
their second trading day,
giving back more than half
the gain from the buyout
firm’s June 22 debut as a
public company.

The stock dropped $2.62
to $32.44 in New York Stock
Exchange composite trad-
ing. New York-based Black-
stone sold 133.3 million
shares for $31 each, the high
end of the range used to
market the initial public
offering. The stock rose 13
percent on the first trading
day.

“The Blackstone IPO
probably suggests that the
returns you're going to get
from private equity are
less,” said Jason Trennert,
chief investment strategist
at Strategas Research Part-
ners LLC in New York.

Blackstone’s owners
retained 78.3 percent of the
company after selling 12.3
percent to the public and a
9.4 percent stake to China’s
soon-to-be-formed State
Investment Co.

_LATE TRADING |





4p.m. 6:35 p.m. Late
close

4p.m. 6:35 p.m.
lose close



Late
Stock Tkr. close Chg. volume Stock Tk. cl Chg. volume
FannieMIf FNM 66.24 66.24 202239 | Dellinclf DELL 27.09 27.09 ° 25030
FredMac FRE 6159 61.59 * 171963 | Altrias MO 68.75 63.79 +04 24771
Avaya AV 16.78 16.81 +03 83041} PioNtrl PXD 50.72, 50.72 * 18972
iShR2K nya IWM 82.49 82.60 = +.11 = 68140 CSXs csx 44.62 44.62 16325
Biogenide BIB = 51.75 51.76 = +01 67912 | Clearchan CCU 37.20 ~—«37.20 15648
Kraft KFT 35.61 35.65 = +.04 67396 i ‘ .
: Metlife MET 64.02 64.02 15608
Microsoft MSFT = 29.49 29.46 —--.03 60766
FordM F 9.03 9.07 4.04 15429
NRGEgys NRG 42.22 42.20» -.03 40511
Opsware OPSW 9.36 4741-35134. | VentanaM MSI 51.74 = 78.90 +27.16 13118
SPDR SPY 149.83 150.01 +18 31005 | Ventas = VIR_— 35.60 35.73 +13 13042
ConocPhil COP 78.04 = 77.99. 05 30337 Staples SPLS 24.03 24.07 +.04 12530
TimeWarn TWX 21.45 21.42, 0327761 KemetCp KEM = 7.16 117 +01 12465
PwShsQQQ QQ0Q 47.09 47.17 +08 27011 | ApldMatl AMAT 19.88 1991 +.03 11441



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





INTERNATIONAL EDITION

TUESDAY, JUNE 26, 2007 | 4B

Nations split on trade

BY BRADLEY S. KLAPPER
Associated Press ‘

GENEVA — A group of
Latin American and Asian
members of the World Trade
Organization proposed Mon-
day a “middle ground” in talks
to liberalize trade in manufac-
tured goods — a sign that
developing countries are
breaking ranks with Brazil and
India.

The proposal calls for
greater concessions by both
rich and poor countries as part
of efforts at reaching a new
global trade pact and comes
only days after talks among
the WTO’s four biggest pow-
ers collapsed in Germany over
eliminating barriers to farm
and manufacturing imports.

Signed by Chile, Colombia,
Costa Rica, Hong Kong, Mex-
ico, Peru, Singapore and Thai-
land, the offer would open up
industrial markets in the

developing world to greater

SINGAPORE



foreign competition than
under proposals made last
week by Brazil and India.

Brazil and India were
sharply criticized by the
United States and the Euro
pean Union for refusing to
offer new market opportuni-
ties for manufacturing
exports. The two emerginy
powers in turn blamed the
impasse on U.S. reluctance to
make cuts in the billions of
dollars it pays annually in farm
subsidies.

Monday’s proposal warned
that all WT'O members need
to give ground in the global
trade talks, which aim to add
billions of dollars to the world
economy and lift millions of
people out of poverty through
new trade flows. They have
struggled largely because of
wrangling between rich and
poor countries over eliminat-
ing barriers to farm trade and,
more recently, industrial

trade.

Failure over the next five
weeks to agree on the frame-
work of a deal to cut tariffs
and slash subsidies could
make an accord impossible for
at least three years, trade offi-
cials have warned. They say
subsidy and tariff concessions
are very unlikely in 2008,
when U.S. elections will be
held, and 2009, when Indian
elections are scheduled.

Under the complicated for-
mula used by the WTO for
determining industrial tariff
cuts, a lower figure corre-
sponds to higher cuts and
greater market access for
exporters.

Officials at the meeting last
week in the German city of
Potsdam said Brazil and India
proposed a figure of 30, more
flexible than their official posi-
tion of 35, which is supported
by a group of developing
countries that includes Argen-

tina and Venezuela, which are
both skeptical of greater
industrial liberalization.
Washington and Brussels are
insisting on a lower coefficient
from leading developing coun-
tries to ensure the creation of
new trade flows.

The proposal Tuesday
would go closer to U.S. and
EU demands, calling for devel-
oping countries to accept a tig-’
ure “between the upper teens
and the low twenties.”

It urged rich nations to go
beyond the figure of 10 that
they are demanding of them-
selves.

Compromise papers by the _ -

WTO’s top agriculture and .-.°

manufacturing negotiators are
expected to be released in
July, but many are doubtful
that talks in Geneva among 150
members will turn out more
successful than those that
involved just the United
States, EU, Brazil and India.



LIPO CHING/SAN JOSE MERCURY NEWS

HEAVY POLLUTION: Rush-hour traffic heads through thick smog in Beijing. China overtook the United States in
carbon-dioxide emissions in 2006, but Asian leaders say the United States profits from China’s dirty industries.

Asian leaders criticize policy on pollution

BY GILLIAN WONG
Associated Press

SINGAPORE — Developed
countries are hypocritical for
criticizing China’s greenhouse
gas emissions while using the
country’s cheap labor to
power industries that pollute,
Asian business and govern-
ment leaders said Monday.

“This is green imperial-
ism,” Nor Mohamed Yakcop,
Malaysia’s deputy finance
minister, told a panél discus-
sion on global warming at the
World Economic Forum on
East Asia, a two-day confer-
ence.

China has come under
increasihg pressure from the
United States in particular to
take more forceful measures
to curb carbon-dioxide emis-
sions. China relies on coal,

ECONOMY >

among the dirtiest fuels, to
provide two-thirds of its
energy.

Asian leaders also criticized

the United States and Austra-

lia for not signing the 1997
Kyoto Protocol.

China signed the treaty but
is exempt from emission
reductions because it is con-
sidered a developing country,
a situation often cited by the
United States and Australia for
rejecting the treaty.

Nor Mohamed said there
was no point singling out one
country when climate change
is a global problem. “Compa-
nies that are polluting in China
are owned by American, Euro-
pean, Japanese and others.
They are benefiting from the
cheap labor, from the
resources and at the same time

accusing China of pollution,”
the Malaysian official said.
“Let’s take the hypocrisy
out of the equation,” he said. |
China overtook the United
States in carbon-dioxide emis-
sions by about 7.5 percent in
2006, according to the Nether-
lands Environmental Assess-
ment Agency’s report. While
China was 2 percent below the
United States in carbon-diox-
ide emissions in 2005, vora-
cious coal consumption and
increased cement production
caused the numbers to rise
rapidly, the agency said.
China also uses other num-
bers to contend that it is not
the worst offender: With 13
billion people, China spews
about 10,500 pounds of carbon
dioxide per person, while the
United States‘releases nearly

42,500 pounds.

Chen Feng, the chairman of
China Hainan Airlines, said
now was not the time to assign
blame but to create an interna-
tional solution, saying devel-
oped nations were the original
polluters.

“So the way I see it is, you
were robbers and bandits
before you became right-
minded people,” he said.

President Bush recently
proposed a meeting of the 15
biggest emitters of greenhouse
gases to set an emissions goal.
Japan’s environment minister
called the proposal “signifi-
cant” but said it was crucial
the top emitters participate.

Associated Press reporters
Eileen Ng, Derrick Ho and
Vijay Joshi in Singapore con-
tributed to this report.

Homes sales hit slowest pace in 4 years

BY MARTIN CRUTSINGER
Associated Press

WASHINGTON — Sales of
existing homes fell for a third
straight month in May, drop-
ping to the lowest level in four
years as the median sales price
declined for a record 10th con-
secutive month.

In a troubling sign for the
future, the inventory of unsold
homes shot up to the highest
level in 15 years, meaning
more downward pressure on
prices in the months ahead
until the inventory glut is
reduced.

Sales fell by 0.3 percent in
May to a seasonally adjusted
annual rate of 5.99 million
units, the National Association
of Realtors reported Monday.
Sales now stand 10.3 percent
below where they were a year
ago.

The median price of an
existing home sold last month
fell to $223,700, down 2.1 per-
cent from a year ago. It
marked the 10th straight price
decline compared with a year
ago, the longest stretch on

The median price of an existing home sold last
month fell to $223,700, down 2.1 percent from

a year ago.

record.

The drop in sales was in
line with expectations, provid-
ing relief on Wall Street where
analysts had been braced for
an even worse showing.

Economists predicted home
prices would likely head lower
in the months ahead because
of continued troubles in
reducing the stockpile of
unsold homes, which rose 5
percent in May to 4.43 million
units. That was an 8.9 months
supply at the May sales pace, a
level that has not been seen
since July 1992, the last time
the country went through a
serious housing slump.

“The only way we are going
to chip away at this Mount
Everett-sized pile of inventory
is by price cuts and so far, sell-
ers haven’t been aggressive
enough,” said Mike Larson, a
real estate analyst at Weiss

a

Research.

“Don’t look tor a lasting
bottom in the housing market
anytime soon.”

The sales decline was led
by a 3.4 percent drop in the
South. Sales also fell in the
West, dropping 0.8 percent.

Sales rose by 5.8 percent in
the Northeast and 0.7 percent
in the Midwest.

Economists predicted fur-
ther sales declines in forth-
coming months as housing is
aftected by recent troubles in
subprime mortgages, which
have caused banks and other
lenders to raise their qualifica-
tion standards, making it
harder for potential buyers to
obtain financing. Rising mort-
gage defaults also mean more
homes dumped on a glutted
market.

Some analysts said they
believed the once high-flying

housing market was going
through a crisis of confidence.
Sales of both new and existing *
homes set records for five-
straight years, prompting what
many believe was a specula-
tive bubble in some parts of
the country as investors .
rushed in to buy properties in -
hopes of a quick resale to take °
advantage of home prices that
were climbing at double-digit
rates.

Lawrence Yun, senior
economist for the Realtors,
noted that household forma-
tion had slowed. He said that
implied many people had
decided to put off buying a
home and were doubling-up in ,
rental units or moving back
home with parents.

He said activity in the exist-
ing home sales market, which
accounts for about 86 percent
of annual sales, would con-
tinue to suffer until builders
were more successtul in trim-
ming their production levels {
for new homes, which make /
up the other 14 percent of/
annual home sales.





a Oe at eS, ee Pal are

oc «

THE TRIBUNE



Benchmark hopes property
work to start in 2007 Q3

@ By NEIL HARTNELL
Tribune Business Editor

enchmark
(Bahamas) yester-
day said it hoped to
begin construction
on its one-acre commercial

property project by the end of

the 2007 third quarter, depend-
ing on the permitting process,
with some “very strong indica-
tions of interest” from busi-
nesses interested in joining
anchor tenant Bank of the
Bahamas International.

Julian Brown, Benchmark
(Bahamas) president, told The
Tribune that groundbreaking
would take place before year
end, its Benchmark Properties
(Bahamas) subsidiary having
completed “the most difficult
part of the transaction, I believe,
which was to acquire the prop-
erty”.

Mr Brown was reluctant to
estimate when construction
would start, saying he hoped it
would be before the end of the
2007 third quarter, as the com-
pany now had to obtain all rel-
evant construction permits and
approvals from the likes of the
Town Planning Committee and
Department of Physical Plan-
ning.

Architects’ renditions of the
14,733 square foot site, located
on Carmichael and Fire Trail
Roads, have already been com-
pleted, Mr Brown saying
Benchmark already knew what
the site looked like.

He added that the complex
was likely to be completed with-
in 12-18 months of ground being
broken, with Bank of the
Bahamas International - which
is financing the contruction with
a $2 million loan - having signed
a Letter of Intent to act as the
anchor tenant, occupying some
5,000 square feet or more than a
third of the available space with



= UTS ats)



8B BENCHMARK PRESIDENT JULIAN BROWN

one of its branches.

When it came to other ten-
ants, Mr Brown said: “We don’t
have any formally signed up,
but we have a lot talking to us,
and have had some very strong
expressions of interest. | think
we will have no difficulty at all
in getting that property out
there fuly rented.

“Other financial institutions
wanted to know what we’re
doing, indicated they were inter-
ested, and now they know who
the anchor tenant is, it will cre-
ate much more interest.”

Mr Brown said the develop-
ment suited both Benchmark
and Bank Of the Bahamas Inter-
national perfectly, which his
company wanting to do a com-

(FILE photo)

mercial real estate development
in the area.

From the bank’s perspective,
it was keen to establish a branch
in a location, Carmichael,
regarded as one of the fastest
growing population centres in
New Providence, yet relatively
unserved by financial services
providers. Other banks are also
interested in establishing a
branch presence there.

“The deal came to us through
a very good relationship we
have, and we pretty much put it
together without any difficul-
ty,” Mr Brown said.

“It was a key ingredient for us
to go ahead and do it, knowing
we had one third of-the-space
rented before we started.”

MINISTRY OF WORKS & TRANSPORT

&

KNOWLES CONSTRUCTION AND DEVELOPMENT

COMPANY LTD.

Mr Brown said Benchmark
would focus on getting this real
estate project “up and running”,
rather than look to acquire oth-
er sites for property develop-
ment. Yet the company was
interested in property develop-
ment throughout the Bahami-
an islands.

“If something good came up,
we'd have to take a look at it,
but I’m not on the corner look-
ing for the next property to
buy,” Mr Brown added. “I’m
very pleased with what we’ve
done so far, and the future
looks very good for Bench-
mark.”

Benchmark was a 20 per cent
investor in the John S George
investor group that sold the
retailer to Andrew Wilson,
owner of Quality Business Cen-
tre, with 50 per cent of the pur-
chase price involving a land
swap of 10-and-a-half acres in
western New Providence.

Mr Brown, though, said
Benchmark had opted not to
participate in the land swap
because the company did not
want to be a minority share-
holder in a property develop-
ment firm, instead opting to
take five-year promissory notes
to recover its $300,000 invest-
ment.

BISX-listed Benchmark is
putting $900,000 of its own equi-
ty into the purchase of the
Carmichael property, con-
tributing one-third of the total
financing from its own
resources, in a move to diversi-
fy the company away from its
reliance on the Bahamian stock

Flat: Terra Cotta Roof Tiles
7,500 sq.f.:and
accessories, $19,000.00

Phone 324-6441 or.
Cell 424-8299






TUESDAY, JUNE 26, 2007, PAGE 5B

market and performance of the
Alliance Investment Manage-
ment subsidiary.

Benchmark will be responsi-
ble for all aspects of its devel-
opment, from the land purchase
through construction to the
leasing, ownership and opera-
tion. Benchmark Properties was
also interested in acquiring
existing properties and taking
over their rental revenue
streams. Benchmark had always
been designed with three sepa-
rate segments in mind — the
mutual fund and Alliance
investment advisory business;
the investment in private com-
panies as part of private equity
consortiums; and the develop-
ment of real estate.

Mr Brown previously said
real estate investments in the
Bahamas in general had a his-
tory of generating an “above
average rate of return” on
adjusted capital, making it a
good business for Benchmark
Properties (Bahamas), which
was incorporated during. the
2006 third quarter, to get into.



@ Squash Club
on Village Rd.
July 2 - 20th
9 — 12:30 pm
Ages 7-14
$100.00/week

Come have fun
Call 394-5042
Registration
Deadline June 30th



NOTIGE
Mt. Carmel

Preparatory Primary School is expanding
Call for admissions information today.

325-6571/325-6570

—

ey
_ Interest rate
, On approved credit. Valid
SUC] er
Up to 72 months.

MILO purcmx HiGHWAY -
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 25
June, 2007.

Civic Si Sedan



Ready for a Little Attention?

The 2007 Honda Civic Sedan or Civic Si Sedan is sure to attract a crowd.
Named a “Best Buy” in its class by Consumer Guide, the new Civic features a long list
of advanced safety features plus an ultra-low emission, fuel-efficient 1.8 litre engine.

Both the sedan models come with anti-lock brakes, dual front and side air bags and a
350-watt, 7-speaker audio system. And they’re backed by a 2-year/ 24000-mile

ee : . 2 factory warranty.

The Public is advised to observe the construction signs

pointing out the temporary traffic man agement. At Nassau Motor Company, there's always a better way to get where you want to go.



Please drive with care and caution in the construction

Zones.
Nassau Motor Company Limited \

Shirley St. ¢ P.O. Box SS-62135 ¢ Nassau, Bahamas

Tel: (242) 328-2285 © Fax: (242) 323-7272
Website: www.hondabahamas.com



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




NASSAU MOTOR CO LTD





PAGE 6B, TUESDAY, JUNE 26, 2007

THE TRIBUNE





LEGAL NOTICE

NOTICE
K.B. INVESTMENT CORP.

International Business Companies Act 2000

Pursuant to the provisions of Section 137
(8) of the International Business Companies
Act, 2000, Notice is hereby given that the
_above-named Company has been dissolved
and struck off the Register, a Certificate
of Dissolution has been issued by the
Registrar General on the 11th day of April,
2007.

Anthony B. Dupuch
Liquidator

Legal Notice

NOTICE

SIGMA BAHAMAS LTD.

IN VOLUNTARY LIQUIDATION

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 SIGMA BAHAMAS

LID.is in dissolution

The Date of the Commencement of dissolution was 25th June
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd.,
Building 2 Caves Village, PO. Box N-3917 is the Liquidator of
SIGMA BAHAMAS 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 25th July 2007.

_

ae
YL?)

G

id Thain
/ ViQuidator



NOTICE |
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
(No. 45 of 2000)

MINCOLT ENTERPRISES LIMITED

Notice is hereby given that in accordance with Section 138
Business Companies Act, No. 45

of MINCOLT ENTERPRISES

(8) of the International

of 2000, the Dissolution
LIMITED has been completed, a Certificate of Dissolution has
been issued and the Company has therefore been struck off the

Register. The date of completion of the dissolution was June 13, 2007.

For: Continental Liquidators, Inc.
Liquidator

BUSINESS

Alleged fraudsters

transfer $500k

proceeds to
the Bahamas

i@ By NEIL HARTNELL
Tribune Business Editor

he perpetrators of an alleged $11

million investment fraud shave

transferred more than $500,000

. of the proceeds to Bahamas-

based accounts since May | this year, osten-

sibly 10 purchase fand in this nation, court
documents have revealed.

An affidavit from Robert McBurney, a
law enforcement officer in the securities
division of the South Carolina Attorney
General's Office, alleged that substantial
funds were being moved to the Bahamas by
Tony Pugh, Tim McQueen and Joseph

. Brunson, the alleged masterminds behind

an investment fraud involving entities called
3 Hebrew Boys and Capital Consortium
Group.

The three and their companies were
allegedly soliciting US citizens to invest
money with them, which would be used to
generate returns from foreign exchange
trading. ,

Yet Pough had been convicted of finan-
cial crimes before, and $11 million in
investor monies allegedly transferred from
Bank of America in the US to First Citizens
Bank of South Carolina after the former
filed a suspicious transactions report in
April: 2007.

The McBurney affidavit was filed to sup-
port a move by the South Carolina author-
ities to freeze the First Citizens bank
accounts and prevent the men moving the
funds out of the US. McBurney alleged:
“My review of First Citizens accounts also
shows wire transfers to offshore accounts.

“Multipie transfers to the Bahamas are

shown as occuring just since the first of
May 2007, and these transfers so far total .
over half a million dollars. These transfers -
appear to benefit an entity known as the
Alexander Development Group, which is
not involved in foreign currency exchange.” °
These developments again show the need ©
for the Bahamas and its financial services
industries to beware of being abused by
suspect foreigners, and to conduct thor-
ough due diligence before incorporating
companies and other entities, and opening
bank accounts, for their clients.
McBurney’s affidavit alleges that the
three men’s scheme appeared to be a Ponzi-’
type fraud, with no investor monies seem-,

ingly invested, and the First Citizens, . S

accounts not containing enough money to
pay the investors the returns they had been
promised at seminars.

2

*

Disaster recovery
plans Vital, Bahamian |

businesses warned _

.

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

WITH more than 40 per cent
of US businesses closing per-
manently after experiencing
some type of disaster, whether
natural or man-made, Bahami-
an auditors were yesterday told
it was Vital that Bahamas-based
companies have some type of
contingency plan in the event
they are unable to operate nor-
mally.

Jean Bennajma, special assis-
tant to the director in the imme-
diate office, Technology and
General services, at the Inter-
national Monetary Fund (IMF),
told an Institute of Internal

such a business continuity/dis-
aster recovery plan was
absolutely critical if a company
is to survive the aftermath of
disasters such as a hurricane or
fire.

She said such a plan should
ideally allow contingencies for a
complete loss of operations for
at least a six-week period. It is
essential, Ms V added, that
measures such as where and
when employees report to
work, who is authorisied to
speak to the media and the
backup of information were all
placed in writing and known by
employees ahead of time.

Equally important, she said,
was a life safety plan which will
be implemented to get employ-
ees away from the danger zone.

there were three main reasons
for implementing a business
continuity plan - it makes good
business sense; it is required in
many cases by law; and, finally,
it might be required in company
policy.

She noted that disasters can
have detrimental effects on
business. For instance, in major
cases some 43 per cent of busi-
nesses may never reopen their
doors following a disaster, while
another 29 per cent close with-
in two years. There is also the
cost of the downtime employees

will face.

Ms Bennajma said that in
preparing a business continuity
plan, a company should per-
form a risk analysis and a busi-:
ness and financial impact analy-'.
Sis. esas

Once a working plan is estab-"

lished, she said, it can be taken. :

to insurance companies to see if-

there is any way to lower pre-~ .

miums since risk issues have
been addressed. The plan.
should be regularly updated as
the needs of the business
change, Ms Bennajma said.

Auditors seminar that creating



Be cad Ws
yee ea BESET

Ms Bennajma added that

evrreter

=) FIDELITY.

UE Ee
BeAr RCL

Pricing Information As Of:
Monday, 25 June 2007



A a ae ae

0.000
1.548
0.737
-0.013
0.279
0.064
0.549
0.281
1.152
0.112
0.281
0.694
0.787
0.977
1.657
-0.432
0.532
0.868
1167

o
Abaco Markets 3,850
Bahamas Property Fund 1,000
Bank of Bahamas : : 650
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
” Famguard : : : 1,000
Finco : : 0.00 360
FirstCaribbean j 0.04 1,000
Focol : 1.01 6,000
Freeport Concrete be ; 0.00
ICD Utilities ; : -0.05
J. S. Johnson ; F 0.00
Premier Real Estate ae 0.00
erThe-Counter Securities
52wk-Low Ask $ Last Price Weekly Vol. EPS $
12.25 Bahamas Supermarkets 15.60 16.00
10.00 Caribbean Crossings (Pref) ; 8.25 10.60
Z Idi 0.45 ; 0.55 | 0.20
Le ina Over-The-Counter Securities —
: B ‘ 43.00 41.00
14,00 Bahamas Supermarkets ; 15.50 14.00
0.35 RND Holdings - AE 0.55 / 0.45
ee - BISX Listed Mutual Funds
NA V YTD% Last 12 Months Div $
1.343743"
3.2018***
2.681688**
1.244286****

1,500

1,000
7,145
3,500

7 we weer

eee

1,500

Trees) ae

The Anglican Central Education Authority invites
applications from qualified Bahamians for the position
of Vice Principal for St. John’s College beginning
September 2007. :

*e@eeee a”

The Applicant must have a Degree in Education from ‘
a recognized University, with at least 10 years

Fund Name Yield % accumulative experience.
Colina Money Market Fund
Fidelity Bahamas G & | Fund
2.3915 Colina MSI Preferred Fund

1.1695 Colina Bond Fund

~ 52wk-Low
12933
2.9038



For further details please contact the Anglican Central
Education Authority on Sands Road at telephone
(242) 322-3015.

11.0199 Fidelity Prime Income Fund

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks

# Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Changs 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

_JO TRADE CALL: COLINA 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL (242) 394-2503

aaa commie
FINDEX: CLOSE 809.14 / YTD 09.03% / 2006 34.47%
MARKET TERMS YIELD - last 12 month dividends divided by closing price
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 volurne of the prior week

EPS $ - Acompany’s reported earnings per share for the last 12 mths

NAW - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



NAV KEY

*-~ 15 June 2007

** - 30 April 2007

*** 31 May 2007

**** - 30 April 2007

31 May 2007

Letters of application must be addressed to:




THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION

ry PF PeOR aS a.

AUTHORITY
P.O. BOX N-656

NASSAU, BAHAMAS

The Deadline for applications is Friday, July 13, 2007

c=



THE TRIBUNE

| UESDAY, JUNE 26, 2007, PAGE 7B



Ric See eee
Blackstone Group’s shares drop as

investors struggle with valuation

@ By DAN SEYMOUR
AP Business Writer

NEW YORK (AP) — Shares of
Blackstone Group LP sank during their
second day of trading yesterday, as the
stock pulled back sharply following a
widely hyped initial public offering.

The stock fell 7.5 per cent, or $2.62, to
close at $32.44. It was among the loss

leaders on a percentage basis on the

New York Stock Exchange, having fall-
en as low as $31.90 on volume of more
than 35 million shares.

The decline also wiped nearly $600
million (?446 million) off the personal
fortune of Stephen Schwarzman, the

company’s chief executive and largest
shareholder.

Nick Perry, an equity options analyst
at Schaffer’s Investment Research, said
a pullback the second trading day after
a high-profile IPO is typical.

“There was a whole lot of attention
on this deal, and weakness usually fol-
lows when a stock has been hyped as
much as Blackstone was,” he said.
“That usually goes away after a day or
two.”

Shares of Blackstone jumped 13.1 per
cent on Friday after the private equity
firm fetched $31 per share in its IPO. It
was the largest US IPO in five years
and the sixth-largest ever.

But valuing Blackstone Group is a
tricky proposition. Normally investors
measure a company against the worth of
similar companies. But Fortress Invest-
ment Group is the only stock compara-
ble to Blackstone Group, and even
then, Fortress operates certain funds

that do not correlate to Blackstone.

Hike
Plus, Blackstone faces the possibility
of a sharp tax hike under proposed leg-

islation in Congress. Depending on
what version is approved, this tax hike

could take effect either immediately or.

in five years, further heightening the

uncertainty investors face when trying
to determine how much Blackstone is
worth.

Barron’s, the investment magazine
published by Dow Jones, ran a cover
story on Blackstone in its new issue
arguing the firm’s stock may disappoint
investors.

Blackstone’s IPO may hint at the top

of the private equity boom, Barron’s,

contended, as the firm seeks to cash in
on its business before rising interest
rates and expensive stocks hamper the
industry. aS
The stock price assumes Blackstone
will be able to keep turning public com-
panies around and selling them for a

profit, Barron’s said. Based_on the
obstacles facing this assumption, Bar-
ron’s argued Blackstone’s stock is sig-
nificantly overvalued.

Earlier this year, Fortress Investment
Group LLC became the first publicly
traded hedge fund to go public. The
stock priced at $18.50 in its IPO and
spiked by more than two-thirds to close
its first day of trading at $31. The shares
subsequently cooled off, falling about 10
per cent in the next week. The shares
fell 4.1 per cent to $23.25 Monday.

e AP Business Writers Joe Bel Bruno
and Kristen A. Lee in New York con-
tributed to this report.



Bahamas urged to target Middle Eastern investors

FROM page 1

ter of Finance - the top guys - along with
the Foreign Minister representatives,
and set up meetings with investors,” Mr
Joudi said.

“Let them know-about the Bahamas,
’ and that we have what it takes. Let them
‘know they can live the lifestyle here that

they have there.

Profits

“Tn Saudi Arabia, Dubai and Kuwait,
it’s just nothing but profits from the
petrodollars. They have a surplus of
money sitting on the sidelines just wait-
ing to be invested, whether it’s in bonds,

Tourist spending falls $13m in ‘06

real estate. They have a surplus of mon-
ey they could invest in this country.”

Purchasing

Apart from just purchasing high-end
real estate in the Bahamas, and pur-
chasing all the goods and ancillary ser-
vices needed to sustain their lifestyle,
Mr Joudi said Middle Eastern investors
were also likely to be willing to invest in
existing and setting up Bahamas-based
businesses.

. ._.He added that the Bahamas Interna-

tional Securities Exchange (BISX) would
benefit if these investors bought its list-
ed equities and government debt issues,
or-used the exchange as a vehicle to

access the international capital markets.
Middle Eastern investors based in the
Bahamas would also be likely to use its
financial services industry’s products,
the sector having been encouraged sev-
eral times to look at developing products
to serve the Islamic market.

Market

Mr Joudi said: “The only way for them
to know about us is to go out there int
the market ourselves and let them know
about our product.

“We cannot just depend on the US
market, the Canadian market, the ones
nearby. We need to reach out to these
markets that have surplus assets and are

willing to take risks.
Timing

“Timing is very important. We have a
fresh government that is willing, aggres-
sive abd a very wealthy region that is
unstable. The Bahamas can benefit from
that. We could go there, market the
country, create a value environment for
business investment and benefit from all
that.”

Mr Joudi suggested that the Bahamas
could establish a “fully-fledged” embassy
in Dubai as a base from which this
nation’s business and investment envi-
ronment could be marketed to the whole ©
Middle East.

INSIGHT

For the
stories behind

the news, read
Insight on
Mondays








PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL



FROM page 1

ba and St Maarten.

These countries now enjoyed
similar air fares into the desti-
nation as the Bahamas, “taking
away the price advantage we
have had in recent years”.

The Bahamas had also “taken
a hit in the impulse travel mar-
ket”, featuring those visitors
who lived in Florida and the
south-east and east coast US,
who decided to come to this
nation on a plane or boat at the
spur of the moment.

The WHTI and airport secu-
rity procedures in the post-Sep-
tember 11 environment had
impacted this market, with Ms
Walkine.questioning whether it



-from people who are
making news in their
‘neighbourhoods. Perhaps
‘you are raising funds for a
’s0od cause, campaigning
|.for improvements in the
‘area or have won an
caward.

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

a

4
i B)

M

Share your news

The Tribune wants to hear

yy

would “ever fully recover”.

“T hope by now | would have
shocked you to the reality of
how rough things are, and will
get for us if we do not halt the
slide jin our tourism,” Ms
Walkine said....... “As Bahami-
ans, we have our work cut out

for us.”
She added: “The ball is in our
COULL.... eee Are we ready

for this very real challenge to
our livelihood, and the high
quality of life that we have
become so accustommed to?
“We have to face the facts. I
suggest that we, collectively as
Bahamians, take a look in the
mirror. Do we see something
we can be proud of? From my
angle, we have some serious












ole

LEY.

Reot © Sue

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 — Vinance
Manager” or you may fax it to (242) 702-2822 no later than
June 29", 2007



house cleaning to do.”

Ms Walkine said Bahamians’
attitude towards the environ-
ment “leaves much to be
desired”, and questioned why

so many native trees-were ‘mur-.

dered’. Tourists, she added,
wanted a safe, crime-free envi-
ronment wherever they went in



ENA Te

the Bahamas, and expected to
receive an experience that
matched the high prices being
paid for a vacation in this
nation.

Ms Walkine said the
Bahamas’ current airlift capac-
ity met the threshold required
for the industry’s needs.

BAC,






With Peripheral Vascular
Surgery Training.

10 years experience required.

Call 242-326-2346

















The Public is hereby advised that 1, JACKLIN ALTIDOR
of 6508 SW 27-St:-Miramar.Fl..33023, intend to change
my name to JACK JAY JOHNSON. If there are any
objections to this change of name by deed poll, you
may write such objections to the Chief Passport Officer,
P.O. Box N-742, Nassau, Bahamas, no later than thirty
(30) days after the date of the publication of this notice.







BENCHMARK (BAHAMAS) LTD.
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 31st July to
shareholders of record 16th July 2007



A global leader in audit, tax and advisory services

Vacancy for the Position:

Manager, IT Advisory Services

Key job functions and responsibilities include the ability to audit internal controls over
financial reporting performed in conjunction with financial statement audits which
must be assessed in accordance with the Public Company Accounting Oversight Board
standards. Must be able to perform information system audits as part of a financial
statement audit and identify strategic business risks, as well as analyze major business
processes to ensure appropriate controls are in place. Ability to test key controls and
evaluate design and operational effectiveness.
reviews inclusive of IT strategy and risk management and information security.

Must also perform due diligence IT

Successful candidate must have a Bachelors Degree and at least five years experience
in IT audit or information risk management.
Auditor (CISA) designation would be a plus.

The Certified Information Systems

KPMG offers a competitive compensation and benefits package inclusive of medical
and pension plans.

Applicants should submit a cover letter, resume, a copy of their degree and professional certifications and a
copy of their transcripts to: KPMG, Human Resources Manager, P.O. Box N123, Nassau, Bahamas or

acash@kpmg.com

AUDIT = TAX. # ADVISORY

@ 2007 KPMG, a Bahamian partnership, and a member firm of the KPMG network of independent member firms affiliated
with KPMG International, a Swiss cooperative. All rights reserved.

\
y





PAGE 8B, TUESDAY, JUNE 26, 2007



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a asc an
Realtors in call for |

THE TRIBUNE |.’

=> = a

regular appraisals

ealtors have warned

Bahamian home-

owners to regularly

reappraise their
property’s value, as they could
suffer financial damage if it is
undervalued when a major hur-
ricane or fire-related insurance
claim is filed.

“Lots in areas like Nassau
East, Seabreeze and Sans Souci
have increased in value more in
one year than in the past several
years combined,” said Rachel
Pinder of Island Living Real
Estate. “Land is so scarce in the
east that land values are increas-
ing because there just is not
much left.”

A lot in Seabreeze that was
valued at $75,000-$80,000 a year
ago is now commanding $95,000-
$100,000, said Ms Pinder, a
BREA-licensed appraiser as
well as real estate sales and leas-
ing broker.

While vacant land has
increased due to scarcity, prop-
erty in gated communities con-
tinues to appreciate in value.

“Most people know the Blue
Book value of their car; they can
tell you almost to the dollar what
it is worth. If they have a boat,
they can tell you what that’s
worth,” said appraiser Anthony
Wells, also with Island Living
Real Estate.

“But so often people will have
an appraisal done on their home
before they purchase it to qual-
ify for a mortgage, file it away
and that’s it. Five years, even 10
years go by and they don’t know
the value of what is likely their
most significant investment.”

The consequences can hurt in
the pocketbook, said Mr Wells,
if a major insurance claim is filed
for hurricane, fire or other dam-
age and the home was under-
valued.

There are three basic
appraisal methods. “Compara-
ble sales approach generally
gives you the best idea of market
value,” said Mr Wells, “whereas
cost approach is best for advising
what it would cost to build or
replace your residence.” The
income approach is used for
income-producing property.

The Partners and Staff of Ernst & Young
toasts and congratulates
Hubert A. Chipman
on his appointment as Country Managing Partner
, of Ernst & Young, Bahamas

We wish you every success!

ey.com





TC ME PM a TR tee rnd SW 0 Le ot oe

(



@ ISLAND Living Real Estate’s Anthony Wells (left), and
Rachel Pinder urge homeowners to get regular appraisals on
their property for insurance and other purposes.

(Photo by Roland Rose for DP&A):

Lending institutions require
appraisals prior to granting
mortgages.

“An appraisal is simply an
objective or unbiased estimate
by a trained professional as to
what your home or lot will bring
in the current market if you

- decide to sell it, or what you as a

buyer can expect to pay if you
are planning to purchase,” says
Ms Pinder.

Location is the number one
factor influencing value. “Neigh-
bourhoods are organic, con-
stantly changing, and if you have
been living there a while, you
may have become immune to
changes as slight as increased
traffic that could cause a decline
in property value. It’s critically
important for the appraiser to
keep abreast of planned devel-
opments nearby, road changes,
expansion or withdrawal of ade-
quate public services and utili-
ties,” Ms Pinder added.

In addition to location,
appraisers look at the structure —
square footage and type of con-
struction, condition and age of
roof. Then there are the differ-

“



ences between what drives prices’
up or down on similarly-sized .
homes in the same neighbour- ‘
hood. Does one have a swim-*
ming pool? A garage instead of,
a'carport? Hardwood or ceram-'
ic tile floor instead of carpet?”
Hurricane-proof windows
instead of hurricane shutters? -
Central air conditioning instead ,
of wall units? !
“Most owners love their’
homes so they think their home.

is valued higher than it actually .

is,” says Ms Pinder. “It’s under- ‘
standable. That’s the emotional '
attachment factor. But it could, -

be costing them hundreds of dol-*" - °

lars in extra insurance premiums”
if they are carrying more cover-.
age than they need. An appraisal’ ;
at least once every five years, ~
could save them considerable : |
money. But with so many peo-"
ple, especially young. _profes-"
sionals, who want to build rather.
than buy their first home now;
vacant lots in areas where land i is
scarce are increasing in value. at

a fast rate. In that case, you-may -
want an appraisal every one to,
two years.”





el] FRNST & YOUNG

Quality In Everything We Do









June 2007

,




@ KELLY’S Hardware on Bay Street in the 60s.






Tieaeenine ob Tram reed

M@ NANCY KELLY holds an artist’s impression
of the New Look of Kelly’s, Mall at Marathon
(Photo by Roland Rose)

Tae ae 7 ae =











A

5 bina Cowart
eae hee











i KELLY’S
early ledger and
journal...a far
cry from today’s
sleek computers.
(Photo by
Roland Rose)







HB DAVID and
Nancy Kelly
explore Kelly’s
Hardware’s old
ledgers and
journals from
June, 1942, and
earlier.












(Photo by
Roland Rose)

iar - F = td

@ THE Kelly family and their wall of honours: From left, Vice Presidents
Scott, Andrew and (seated) Gregory Kelly, with President David A.C. Kelly
and Executive Vice President Nancy B. Kelly.





(Photo by Roland Rose)





PAGE 2F, TUESDAY, JUNE 26, 2007

80TH ANNIVERSARY SUPPLEMENT. -

THE TRIBUNE



A Bahamian legend

KELLY’S AT 80

m@ By P.S. NEWS/FEATURES —



Few 80-year-olds can claim to be
stronger and better looking than ever,
but Kelly’s, still a family business, is all that it
ever was...and much, much more.





BIGGER, STRONGER AND MORE BEAUTIFUL THAN EVER

Founded in March, 1927, by Charles Kenneth
Kelly as Kenneth Kelly & Co., the Bay St.
emporium soon became Kelly’s Hardware
Co., then Kelly’s Hardware Ltd, the parent
company of one of the Bahamas’ !argest and
most successful retail stores... fondly known

Trading as Kelly’s Home Centre, and lately
as Kelly’s House and Home, Kelly’s is one of
the nation’s oldest retail stores under the same
ownership and the nation’s largest retail store
with more than 60,000 square feet at the Mall
at Marathon, Nassau, plus three warehouses

Literally millions of pieces of
merchandise pass through Kelly’s ever-chang-
ing aisles each year, propelled by happy shop-
pers whose modern lifestyles depend on its
wide variety of stylish merchandise often at or
near U.S. prices, “All with Love from Kel-

as “Kelly’s.”

@ THE three Kelly brothers: Basil (now deceased, left), David and Godfrey ~

(right)

@ CAPT. Charles Kelly’s Home on Hill St., Harbour Island, where Kenneth and
Trevor grew up. Inset with photo of David’s mother and father, Kenneth and Edna

Kelly.

SS



_-



(Photo by Franklyn Ferguson)

and a pricing centre.

kK ELLY’S President and CEO, David A. C. Kelly, is

proud of the contributions his family has made to the
Bahamas through two centuries of public and retail service.
(The first Kelly in the Bahamas Legislature was James Kelly
who represented Eleuthera in 1794.

‘The latest were; Their uncle C. Trevor Kelly, CBE, MHA
for Eleuthera, Minister of Maritime Affairs; David’s brothers
Basil T. Kelly, CBE, MHA 1962-1968 for Crooked Island,
first and last Sports Commissioner of The Bahamas; God-
frey K. Kelly, CMG, Member of the House of Assembly
(MHA) 1956-1968 for Cat Island, who served as the Bahamas’
first Minister for Education and Sports.

Godfrey Kelly gives all credit for Kelly’s success to David,
saying, “Uppermost in my mind is David’s dedication to the
business. He really deserves top marks and great credit for its

ly’s. ”

success. All his life that is all he has ever wanted to do. If you
love something, you can conquer all. His wife, Nancy, has
made a tremendous contribution, too. I said to Uncle Trevor,
‘David has done remarkably well.’ He said, “Don’t forget
Nancy.’ They make a great team.”

A former Olympic sailor himself, David Kelly revels in his
family’s seafaring history. David’s grandfather, Bahamian Sea
Captain Charles Jordan Kelly of Harbour Island, retired in the
early 20th Century and moved to Nassau to start, first a grocery
business and then Kelly’s Lumber Yard, run by his sons,



‘Trevor and Charles G. E. Kelly. David’s brothers Basil and

Godfrey also sailed in the Dragon Class of the Olympics in
Japan in 1964, finishing seventh overall and winning their last
race. “I wonder how may countries ever had their Minister of
Sports and Sports Commissioner actually competing in The
Olympics?” laughs Godfrey.







NMC got its start as a division of the original Kelly’s on Bay Street 67
years ago. Since then we have followed in their footsteps by growing

Our business, providing quality products and services, and contributing
as much as we can to the Bahamian community. Congratulations to the

mangement and staff of Kelly's.

é



NMC

NASSAU MOTOR CO LTD

NASSAU MOTOR COMPANY | SHIRLEY STREET | DISTRIBUTORS FOR HONDA, CHEVROLET, CADILLAC, ACDelco PARTS
@& 328 3908 | www.nassaumotor.com







THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT

TUESDAY, JUNE 26, 2007, PAGE 3F



David A.C. Kelly: ‘wrestling
with retail’ for 56 years

D AVID Albert
Charles Kelly grew

up wrestling for survival .... as
the youngest of three extreme-
ly competitive, and very suc-
cessful brothers. David was
born in March 1932, the
youngest son of Kenneth and
Edna Kelly; born to sell, born
to win. He was not born with
the proverbial “silver spoon in
his mouth.” “More like a saw
or hammer,” says his wife Nan-
cy. “David eats, sleeps and
drinks Kelly’s. He has never
wanted to do anything else.
It’s his motivation for getting
up in the morning.”

David’s early education was
at Queens College, then locat-
ed on Charlotte Street. David
remembers being caught in the
midst of the “Burma Road”
riot as a he was going to
Queens College School then on
Charlotte Street. He went into
the Pipe of Peace to get out of
the riot.

REALLY WRESTLING

David and his brothers, Basil
and Godfrey, went away to
McDonogh School, then a Mil-
itary school, in Maryland.
While at McDonogh, David
attained the rank of Major, was
the President of his senior class
and excelled in several sports.
David and his brother, Basil,
were both Maryland State
Wrestling Champions; David
for the three years of 1948,
1950, and 1951 in weight class-
es climbing from 115 to 154
pounds. He was second in
1949 when the only match he



@ DAVID KELLY, Mestiae Sempon

lost in his years of wrestling
was to a future Olympian. He
was captain of the school’s
wrestling team; received a 4
year trophy for the sport and
the best wrestling award in
1950.



(Roast brochure)

One of David’s proudest
moments was and still is win-
ning McDonogh’s “Babe Ruth
Award” presented to two
members of the Senior Class
who “in the opinion of the
underclassmen have made the

greatest contribution to the
spirit of sportsmanship and
fairplay in all school activities
during the year.”, He wins the
same sort of admiration from
his employees, today, as the
very hands-on President of
Kelly’s Home Centre Ltd.

Always athletic, David also
played Lacrosse for two years
and managed the McDonogh
football team for two years.
David represented the
Bahamas in two Olympics in
Yachting, in 1968 in Mexico
and 1972, in Germany in the
Dragon Class; in the Star Class
World Champions in Cuba in
1955 and 1957 and in Rio de
Janciro in 1960, the Snipe
World Championships in Porto
Allegre, Brazil in 1959, and in
the Pan American Games in
Winnipeg in 1967 and the 5.5
meter World Championships in
Naples, Italy in 1965. He was
past Commodore of the Royal
Nassau Sailing Club for the
years 1969 and 1970, and is a
life long member of the Nas-
sau Yacht Club. In 1988, David
was inducted into the
McDonogh School Hall of
Fame.

After graduating from
McDonogh, David came home
to work at Kelly’s Hardware,
at age 19 in 1951. He has been
“Wrestling with Retail” ever
since, for 56 very energetic
years.

Unfortunately, David’s
father died in December 1952,
leaving young David and his
brother, Basil to deal with the
nuts and bolts of the family
business. Brother Godfrey

Nancy Kelly: A brainy beauty
with the golden touch

Nec Kelly combines beauty,
brains and character in an unusually
dynamic package.

You see her reflection all over Kelly’s Home
Centre at the Mall at Marathon...and in the
eyes of the joyful children who think Kelly’s is
Santa’s very own workshop.

Nancy Kelly has been a major influence in
the success story of Kelly's Home Centre. Her
vision and determination helped a small hard-
ware store become one of the largest and most
successful retail businesses in the Bahamas.
Her foresight, enthusiasm, creativity, an innate
sensitivity and an uncanny ability to “know
what the customer wants” have made Kel-
ly’s a household name and a viable alternative

to shopping in Miami. Nancy credits her buying |

savvy to her early love of shopping. “I loved to
shop until I dropped, every Saturday with my
mother.

Nancy created the ever popular “Kelly’s
Bridal Registry” shortly after the opening of the
Mall store. Two years later, she, along with
the help of PS Advertising started the very
successful “Bride of the Year” promotions
which is now in its 16th year.

Nancy’s taste is evident in the design and
merchandising of the store, the wide range of
major brand names added to the China, Linen,

Housewares, Stationery, Toy and Baby Depart-,

ments. The merchandising of stock and even
the uniforms worn by the staff of some 300
were influenced by Nancy.

As Executive Vice President of Kelly’s, she

has played a leading role in the implementation
of an impressive employee benefits package
including Medical and Dental Insurance, a
company-wide contributory and company-
matched Pension Plan, profit sharing, bonuses
and special recognition of employees. “We’re
good to our employees, and they are good to
us,” she says.

Nancy has the courage to lead the charge
into the future for her company and communi-
ty. She explains, “ I’ve always believed we
could do it. I know that with energy and vision,
if you put your all into it, you can accomplish
almost anything...especially with an incredible,
dedicated team of employees.”

June 26-July 2, 2007, Kelly’s begins its cele-
bration of its 80th Year of Business with many
specials promotions. Nancy along with Kelly’s
management team has been instrumental in
giving Kelly’s a new look and image. “You do
have to spend money to make money...

You must keep the creative edge by intro-
ducing new products and ideas before your
competition. Never be scared of trying out a
new way of doing business.

Also in June, Mrs. Kelly added to her collec-
tion, the “Gold Medal Business Award from
the CEO Network during the organization’s
11th Annual Conference in Nassau. The CEO
network singled Nancy out for “exemplary
leadership in business worthy of special recog-
nition.”

In the last few years, Nancy has had a little
less to do with the day-to-day running of the
store, although she still goes to a full slate of
buying trips to Trade Shows and Merchandise
Marts all over the States and Europe. You can
still find her tweaking any display she is near in
Kelly’s more and more varied departments.

She also remains very active in civic and
charitable events. In 1965, she co-founded
with Peggy Jones, the Princess Margarct’s Vol-







@ NANCY KELLY
(Photo by Roland Rose)

unteer Association, better known as the “Yel-
low Birds.” At Kelly’s, David and Nancy Kel-
ly have a donations committee which manages
the company’s many, many donations made
to various Bahamian charities, civic and cultur-
al organizations. ‘

Nancy feels that giving back is a “part of
Christianity” and her community responsibili-
ty. Her father, a prominent New Jersey lawyer
and philanthropist, taught her the importance
of community service. As a young child, she col-
lected newspapers and tinfoil as well as knitting
squares for the Red Cross to help in the war
effort. By the time, she was 12- years old, she
was a Candy Striper volunteer in the local hos-
pital. Later when living in New York City she
was an evening volunteer at Sloan Kettering
Hospital.

Nancy feels that she has” been very fortunate
and has a responsibility to help others.” She
believes that a good education is fundamental
to an individual’s success and happiness. Edu-
cation is so very important to her that she took
on the fund raising challenge as Co-Chairman
of the College of the Bahamas Scholarship
Endowment Fund, under the umbrella of the
Lyford Cay Foundation, to raise $5 Million for
undergraduate student scholarships. This suc-
cessful $5M drive today enables many students
who lacked the funds to attend COB. She has
also served on the Lyford Cay Foundations’
Gifts and Grants Committee and still is an
active member of the Foundation.

For many years she has been an active mem-
ber of the Governor General’s Youth Award
Board of Trustees and has been an active Fund

Raiser for GGYA. In the past, she was a
member and then the head of the Crime Pre-
vention Committee of the Bahamas Chamber
of Commerce. Out of this committee, the
Crime Prevention Foundation was established
and she served as their first president. She
served for several years on The National Child
Protection Council under the Ministry of Social
Services and Community Development and
for three terms on the Financial Services Con-
sultative Forum.

Nancy headed up part of Rotary’s auction
“Imagine” in 2000 and 2001 to raise monies
for scholarships at the College of the Bahamas.

In 2004, Nancy and Kelly’s headed a Toy
Drive for the Children of the Hurricane disas-
ter families in Freeport, the Abacos and other
out islands and also helped Lady Pindling raise
money for the Hurricane disaster families with
a Soup Lunch. ,

In 2002, Nancy received the Business Person
of the Year Award from the Bahamas Cham-
ber of Commerce. She alsq received a Rotary
International Paul Harris Award in recogni-
tion for her community volunteer services. In
the year 2000, the Zonta Club of New Provi-
dence bestowed on her a Living Legends award
for “Women who Molded the Modern
Bahamas”. In 2004, she received an Outstand-
ing Service Award from the Theta Epsilon
Zeta Chapter, Zeta Phi Beta Sorority, Inc., in
2007 the Governor-General’ Youth Award for
15 years of Dedicated Service.

Nancy is a cum laude graduate of Smith Col-
lege, Northampton, Ma where she obtained
an honors degree in Economics and Interna-
tional Business and is just a few credits away
from a Master’s of Education Deeree in Read-
ing and Learning Disabilities. She was the first
participant to receive a certificate of Successful
Completion from the Servistar Retail Univer-
sity.

In 1986 she received a certificate for the
completion of the Advanced Management Pro-
gramme, School of Business, University of
Miami. She spent a year at the University of

~ Geneva, and the Institute of Higher learning in

Geneva, Switzerland, as an exchange student.

In 1963, she married her husband, David,
and moved to the Bahamas. In 1959, they
met in Nassau when Nancy was visiting a for-
mer college roommate on a vacation from her
work in New York.

Her business career includes being the Assis-
tant Personnel Manager, Revlon Corp., the
New York Office Manager of Beautiful Bryans
Hosiery Corp., an executive assistant at War-
wick and Legler Advertising Corp. and a year
at J. Handy Associates as an executive
recruiter. Although she helped her husband at
Kelly’s during the busy Christmas season, she
did not join the Kelly work force full time until
1978... and the rest is history.

Nancy and David have three grown sons,
Andrew, Greg and Scott who also work in
Management capacities at Kelly's, and four
grandchildren.

She attends Christ Church Cathedral and is
on their alter Guild. She is a member of the
Bahamas Women’s Forum, The Nassau Gar-
den Club, and the Nassau Book Club.

Among her hobbies and favorite pastimes
are traveling, growing orchids, golf, reading,

_ and exercising.

She is also the Deputy Chairperson of the
Lyford Cay Club and Chairman of their Sum-
mer Committee.

i NANCY and David Kell

returned from Cambridge
Law School to practice. Both
Basil and Godfrey were
involved in Bahamian politics.
Both served in the House of
Assembly and in ministerial
positions.

David and Basil incorporat-
ed Nassau Motors Company
Ltd. in 1964 and moved the
company to its present Shirley
St. site, having moved Standard
and Triumph cars out of the
Kelly’s Hardware windows.
Nassau Motor Company is one
of the oldest car companies in
the Bahamas, selling Honda
Cars and General Motor Cars.
David is President of this thriv-
ing company.

David still found time in
1959 to meet his future bride,
Nancy Booth, chase her around
the world and marry her in
March 1963. Their three sons,
Andrew, Gregory and Scott, all
joined the staff of Kelly’s
Home Centre by 1990; the
third generation of Kelly’s run-
ning Kelly’s, one of the
Bahamas biggest and most suc-.
cessful retail stores, and per-
haps the nation’s oldest retail
store under the same family’s
ownership.

Throughout the expansions
at Kelly’s and Nassau Motors,
(see History), David was the
steady presence, the deep, gruff
voice of experience and com-
mon sense. He began Kelly’s
move toward international
marketing in the carly 1970s
when the company became
owner members in the Ameri-
can Hardware cooperative, lat-
er known as ServiStar.

Nancy Kelly joined David at -

the store full time in 1978,
helping to mold the stylish new
look of Kelly's Home Centre.
It opened as the anchor for the
Mall at Marathon, just four
days before Christmas, and one
of only two stores open. It was
a bold business move ...Off
Bay Street. (The Bay Street
Kelly’s actually stayed open
until 1990. The Kelly’s man-
aged to combine two branches
into one mega-store, with no
employee becoming redundant.

“The way that Kelly’s con-
ducts its business is essentially
a reflection of David’s way of
looking ‘at life.

“He wants the business to be
a great success, but not by cut-
ting corners or being unfair to
people, whether it’s to vendors,
employees or customers. Peo-
ple respect that sort of attitude
and respond very positively to
it,” says Kelly’s Controller,
Barry Packington.

The latest techniques in
accounting and merchandising
helped the Kelly’s gain their
objective of offering a wide
selection of quality merchan-
dise at reasonable prices. It
was all presented. “With Love
from Kelly’s,” in a consistent,
cost effective marketing pro-
gramme.

The walls of Kelly’s corpo-

~ rate offices sparkle with inter-

national sales awards...and
“Thank you” plaques from all
over The Bahamas.

As Barry Packington says,
“Underneath the sometimes
gruff exterior of David Kelly
beats a big, warm heart.” Very
recently David personal gave
$50,000 to the Cancer Caring
Centre and challenged other



(Photo by Roland Rose)

businesses and individuals to
match it. Then he gave anoth-
er $50,000; $80,000 to COB
Endowment Drive for student
scholarships. It goes on and on.
Under David’s lead, Kelly’s
and his family give over and
over again to their staff, cus-
tomers and nation. Each year
Kelly’s runs an advertisement
featuring just some of it dona-
tions, nearly 200 in one year,
not counting the raffle gifts and
programmed ads sponsored
through out the year. ‘David
comments, “We hope it will
inspire other businesses to give
too.”

Kelly’s more than 300
employees enjoy one of the
best benefits plans in the coun-
try. Kelly’s is one of the few
Bahamian companies to offer
profit sharing. Human
Resources Manager Judith
Adderley calls it, “The Giving
Spirit of the Owners of Kelly’s.
She explains, “They are very
giving set of people and in their
giving, things come back to
them may fold.

She notes that “When the
minimum wage became law in
The Bahamas, only one Kelly’s
employee’s earning had to be
adjusted:” ,

David Kelly is in many
regards, Father Christmas to
Bahamian children, not just for
the wide selection of toys and
the spectacular Fantasy Forest
he imported to bring a Winter
Wonderland to the tropics, but
the exciting tradition of Kel-
ly’s Toyland Opening.

Year after year, it is the start
of the Christmas Season here,
complete with free balloons,
candy and photos with Santa
and Snowbear.

David, Nancy and Kelly’s
staff also host Christmas par-
ties and gifts for scores of
under privileged children each



Although David Kelly still is
hands-on at Kelly’s almost
every day, including many hol-
idays, he also takes some time
off to travel with family and
friends. His office walls feature
historic prints, sales awards and
photos of his pet Persian cats
(above).

Of course, at age 75, David is
still expanding his business
interests, recently tackling the
management of Kelly’s Lum-
ber Yard under the big umbrel-
la of Kelly's Home Centre’s
bustling management team.

And just you wait and see
the bright new facade of Kel-
ly's Home Centre, redesigned
to celebrate its 80th Year in
Business---David’s 56th year of
“Wrestling with Retail.”

- =e







PAGE 4F, TUESDAY, JUNE 26, 2007 THE TRIBUNE



ongratulations!

K | a (olth-Â¥)
<= y S Home
OMA LRM MS aL



‘



Kenneth wins his bride

KELLY’S STORES THROUGH THE DECADES



APT. Charles’eldest son, Ken-

neth (David’s father), was in
the liquor business briefly in the 1920s.
But, when Kenneth proposed to the
lovely Edna Frances Moore, she turned
him down...unless he stopped selling
liquor! Consequently, Kenneth opened
Kenneth Kelly & Co in 1927 and mar-
ried Edna in March, 1928. They started
out selling mostly wooden doors and
window sashes, but expanded rapidly,
obtaining exclusive rights to many other
products. Soon, their store became
known as “Kelly’s Hardware.” By the
mid -1950s it was one of the largest
stores on Bay St., where it remained
until 1990.

Godfrey Kelly confirms the legend of
Kelly’s founding, saying, “It’s a true sto-
ry. My mother would not marry my
father while he was in the liquor busi-
ness. It’s a shame my Ma didn’t leave my
Pa in the liquor business.

“He could have made more money.
But, she was brought up a strict
Methodist. .. She used to chase us down
every Sunday, capture us and put us in
scratchy Palm Beach suits for Sunday

With every
purchase you
could become °

eligiable to

TO a

By elidel
cere

eens on aa valued at $799.99 net ‘School at 3:30 p.m.”
Saturday June 30th : m KELLY’S Hardware st
ed GM See





, Congratulations

K i I. Flouse g

e y S Home

on 80 years of superb service to the
citizens of The Bahamas. |

Anchor Hocking is proud to have
been with you for all of these years!

Victoria

Cake Set

?

te



THE TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 5F



80TH ANNIVERSARY SUPPLEMENT



National Presto, a recognized leader
in the Electric housewares industry

Congratulates!

Kelly's "33%

on 80 years of service







@ ORIGINAL Kelly’s Store (left), and the liquor store (right), owned by David’s great uncle,
Allan Kelly, on Bay Street in the 1960s.

Edna takes charge
Wesses,

died in December, 1952,
David’s mother, Edna
Moore Kelly, became Kelly’s
President—one of the first
women in The Bahamas to
head a major business.

Their eldest son, Godfrey,
a prominent attorney anda
founder of Higgs and Kelly ,
Attorneys, became the com-
pany’s legal advisor and cor-
porate secretary.

In 1955, the central wall of
Kelly’s Hardware Ltd. (Kel-
ly’s became a limited compa-
ny in 1954.) was taken down,
expanding the Bay Street
retail space by another third.
The second storey became
offices in 1960.

This opened the way for
expansion of the China
department and the intro-
duction of household and
radio/TV departments.



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PAGE 6F, TUESDAY, JUNE 26, 2007




A Heritage of
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THE TRIBUNE
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Motor cars in

ily moved their popular car business to a site in
The East Bay Shopping Centre. Sons, Basil
and David Kelly formed a separate company,
Nassau Motor Company, incorporated in 1964,
and moved that company to Shirley St., its cur-
rent location.)



Is 1940, Kenneth Kelly became the exclu-
sive agent for Standard Motor Company
of Coventry, England. The popular Standard
and Triumph motor cars even appeared in the
windows of Kelly’s Hardware. (Later the fam-











@ TRIUMPH RENOWN

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“Cooper Lighting’s breath and depth of product
line is unparalleled in the industry.”





TUESDAY, JUNE 26, 2007, PAGE 7F

THE TRIBUNE











80TH ANNIVERSARY —






<=: TRIUMPH =

bail K i Im House g,

NASSAU MOTOR Cove ail = y S Home

We salute you on 80 years of great

service GS look forward to contined
business with you.

OVERSEAS DEALER'S





Agreement
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@ CLOCKWISE FROM ABOVE: The original | “-20S™8¥bete agreements with the Standard Motor Company of | Sse) 505 es a rane ne an tere

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SUA RISs,





& BELOW: Standard Motor Co. Plaque

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THE TRIBUNE



roses (Ohrechsciesd Sets
Hamilton Beach/Proctor Silex, —
the #1 distributor of small kitchen —

appliances is proud to salute you.



ANNIVERSARY SUPPLEMEN

















@ NANCY KELLY holds the artist’s impression of the remake underway on Kelly’s exterior.

Kelly’s 80th birthday celebration

66 \ N ith our 80th
Birthday coming

up, we decided it was time for a
bright new look,” says President
David Kelly, showing off an
artist’s impression of the remake
underway on Kelly’s entire exte-
rior. The official re-opening is
being planned for October, 2007.

“At Kelly’s, we take pride in
being progressive, on the cutting
edge of retailing.

“We felt those peaches and

aquas needed a new look to’

marching along the front of the
store,” says Nancy Kelly, who is
also fine-tuning Kelly’s elegant
china section (pictured below)
which has just added Lenox to
its list of fine brand names in
stock.

Celebrations for the company’s
80th year in business start June
26th —July 2, 2007, with a sale of
historic proportions, complete
with the usual Kelly’s trademarks
of clowns, face painting, balloons
and candies for the kiddies; more
substantial give-aways, and many
discounts for customers; plus

charitable donations... “All with
Love from Kelly’s.”

However, David and Nancy
Kelly and their management team
have even bigger dreams “to keep
up with the growth and needs of
the nation,” says Mrs. Kelly.

“Yes, we DO have many irons
in the fire, which... to keep our
competition guessing...we will
NOT discuss, today,” concludes
President David Kelly, a man of
few words, but lots of action in
the service of his family, company
and nation.

Watch this space!

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THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 9F



80TH ANNIVERSARY SUPPLEMENT

Kelly’s Bridal Registry

@ By P.S. NEWS/FEATURES

K ELLY’S was founded
: to win the heart of a fair

lady back in 1927. So it’s little
wonder Kelly’s Bridal Registry is
a romantic tradition in The
Bahamas.

Every bride who registers her
china and crystal choices with
Kelly’s also becomes eligible to
be Kelly’s Bride of the month or
Bride of the Year titles with thou-
sands of dollars in beautiful
prizes.

Brides choose Kelly’s Bridal
Registry because of the wide
selection of quality products. It
is the one place you can find
everything you need for your
home.

Mrs. Lloyd-Dames reminds
future brides to register your
Bridal Gift Choices at Kelly’s
Bridal Registry 3 months befcre
your wedding if possible and
enter our famous Bride of the
Month and Bride of the Year
Promotions!

She pointed out dramatic new
patterns in top brand china and
crystal, flatware and accessories,
on display at Kelly’s Bridal Reg-
istry booth, including for the first
time the premium Lenox China
line, “Pearl Innocence” with a
delicate texture and the new
British Colonial collection “Colo-
nial Tradewinds” by Chuck Fisch-
er; the brilliant coral pattern,
“CristobalC by Raynand of
Limoge; Villeroy & Boch; flat-





@ KELLY’S 15th Annual Bride of the Year: Montane Sani
ders Sands,Named Kelly’s New Bride of the Year 2006-7

ware by Oneida and Noritake’s
“Java Blue Swirl”; Wedgwoods
“Ethereal” and from Wedg-
wood’s Vera Wang Collection,
“Champagne Duchess.”

Opulence seemed the word this
year as Kelly’s Bridal department
pulled out all the stops, layering
the booth in elegant patterns,
topped with huge vases of lilies
and orchids anchored in sea
shells.

Brides of the Month in 2007,
each receive: A $250 Kelly's Gift
Certificate; Noritake-tea service
for four; Wedgwood-“ Robert
Dawson” china collection plate; a
Waterford Crystal-bottle stopper;
Mikasa-set of dessert plates,
cheers dots 12” Vase & wine
coaster bottle stopper; Revere
Ware-covered sauce pan; Black
& Decker-quick press iron; Proc-
tor Silex-electric kettle; Creative
Bath-Vanity Tray; Rubbermaid-

folding step stool, wastebasket &
gallon container; World Kitchen,-
Pyrex smart Essentials 8 piece
mixing bowl set.

Mrs. Nancy Kelly, Executive
Vice President of Kelly’s, says
entering the Bride of the Year
and Month competition is “as
easy as registering your bridal
choices at Kelly’s!

“Just register your wedding
date and make your bridal choic-
es including china and crystal at
Kelly’s House and Home, Mall
at Marathon. We even have furni-
ture now! Your bride groom can
select tools and grills, also, from
our wide selection of the very best
products.”

Kelly’s Brides are invited to
special fun-ctions during the year
of their wedding. Kelly’s Brides of
the Month and Bride of the Year
are guests of honour at these
events. ,

pres USS ioe SOK! ee 3









HB EARLY artist’s concept for caer Kelly’s Bay Street sini























a

B y 1963 “The Nassau Guardian” was already writing, “Kelly’s Hardware Now Biggest
Household Store on Bay Street.”

At that time, Kelly’s linked two buildings to become nearly 8,000 square feet “with full emphasis
on the needs and comforts of its customers with large, airy easy-to-find displays and air-condition-

ing throughout the store.”

The 1,500 sq. ft of new retail space connected the main store and the warehouse under one roof. |



( see

ee AS :
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Tuesday wie APN;
buy a 6-pack of either Coke or Diet

Coke for

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OW relatctom Olt Ce) INVA

(Limited to: two - 6 packs per eee ey
while supplies last)

HAPPY 80th ANNIVERSARY

KELLY’S

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MORSE LULU LA See ec intB
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ke



PAGE 10F, TUESDAY, JUNE 26, 2007 THE TRIBUNE
80TH. IYI =a) ake SUPPLEMENT

tongratulations! 10th anniversary
oy S ok at the Mall — no
longer just hardware

Nancy led an expanding team of frags . "Bn iN
F € e

buyers to scour the world for stylish,
quality merchandise at the best pos-
sible prices. She quips, “I just didn’t
want to be working at a hardware
store any more.”

She courted and obtained top
quality brands such as Wedgwood
China and Waterford Crystal for her
elegant new Table Top and Gift
Centre, officially opened by
Bahamas Governor General Sir
Orville Turnquest during the 10th
Anniversary Celebration of Kelly’s
Home Centre at The Mall at 4 fs ae
Marathon, in November, 1998. fH BRINGING HOME THE GOODS—The Kelly family,
(Nancy worked with artisans in Eng- Sr. Buyer Susan Glinton and this young team of buyers
land to design the entire china sec- _ make the decisions which change your lifestyle: (From left)
tion, had it all specially made in Eng- Karen Darville, Bernadette Armbrister, Taisha Lloyd,
land, shipped and installed in Nassau Lashanta Dugay and Deniro Lloyd.
in time for the opening.) ee -

By this 10th Anniversary at the
Mall, the company had quadrupled
in size and sales and managed the
ever difficult trick of lowering prices
and increasing customer satisfaction
while maintaining, profits—all in the
teeth of a stagnant global economy.

The decade following saw ever
more space moving to retail use as
the warehouse and pricing functions
become more computerized, often
as a result of Kelly’s IT Manager
David Hughes’computer and inter-

r ; net expertise. The actual pricing for
Bel ‘Boar Kelly’s Home Centre and Kelly’s
Lumber Yard moved to Kelly’s new

Pricing Centre in 2000. (This com- Hi THE Price is Right — Kelly’s Pricing Centre handles
lroni ng | K plex is so pretty many Bahamian — merchandise for Kelly’s and Kelly’s Lumber Yard. Suzie
weddings are photographed there.) | Guest, manager, is third from right.

























Door In 2001 Kelly’s also joined the
‘ gel op ab) Shi Do It Best corp., formerly HWI -
Crash er Set | yA) Ur ’ (Hardware Wholesalers Inc.), large-

ly as a result of VP Greg Kelly’s

Blue/Green :
only! - #1790-41178 efforts to obtain ever-better volume
.) ne aay eae and prices. Robert Plank came
| #4792-21185 algng from Do-It-Best to help with
oe the transition. Now he is Kelly’s
esday, June 26th, 2007 #1792-21106 Operations Manager.

With more than ¢ 6,000 square feet
of space freed from the Mall ware-
house in 2005 and available for sales
in 2006, furniture is becoming a new
department; televisions are back on
display; the linens and baby depart-
ments are much larger and more
comprehensive. Hi CLOSE up on pricing for Kelly’ S. . (Photos: Roland Rose)

| —K a i rouse 8,
elly’S ‘‘fiome

as they celebrate 80 years

of service fo The Bahamas

“While supplies last”



L AU N DR Y





e Unique Elegance and Affordable Price
° Classic and Contemporary Home Decor
e Superior Quality, Style and Service

@ Gifts for Modern and Traditional Brides
e Corporate Gifts at Any Price Point

e Business to Business - Wholesale Only

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ee }
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i
r
|

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ee os SEE SS



f
RPT VW



THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 11F



80TH ANNIVERSARY SUPPLEMENT

Memories are
made at Kelly’s





H GOLDEN
CHRISTMAS —
Olympic Gold
Medalist Debbie
Ferguson was the
most popular guest
to open Kelly’s Toy-
land: she’s seen here
with Nancy Kelly,
Debbie, Santa,
Snowbear and
Susan Glinton,
Kelly’s Sr. Buyer.
(Photo: PS News/
Features)

“SNOWBEAR,” another
Nancy Kelly brainchild has
been opening Kelly’s Toyland,
a Bahamian Christmas tradi-
tion, since the second Christ-
mas at the Mall. Kelly’s Christ-
mas ads still say, “Christmas
without Kelly’s would be Un-
Bearable!” Santa also arrives
at Kelly’s in creative and excit-
ing ways every year...from fire
trucks to helicopters, with the
music of Junkanoo and the
Royal Bahamas Police Force
Band, “All with love from Kel-

ly’s!” The fully animated “Fan-
tasy Forest” is Kelly’s latest gift
to Bahamian Children...the ulti-
mate Christmas experience of
Winter Wonderland complete
with dancing animals, Snow-
bear and a talking Christmas
Tree.

“Olympic Golden Girl Deb-
bie Ferguson was the most pop-
ular Christmas guest of all,” says
Mrs. Susan Glinton, Senior
Buyer and often the voice of
Kelly’s radio promotions. “She
let hundreds, maybe thousands,



of children touch her new
Olympic Gold Medal and posed
for pictures with them, Santa
and Snowbear for hours.”

The only other Kelly’s pro-
motions to come near creating
such a stir were the first appear-
ances of the Live Barbie
Princess from Mattel.

The late great Bahamian
Comedienne Viveca Watkins
was the first “Snowbear” and
also played “Hoppy Kelly” for
many Easter promotions at Kel-
ly’s.



; ry

UT]
Ried





part of your life and The Bahamas since 1927

1927 - 2007 * Nassau, Bahamas’.

DUGAN-BLISS

ASSOCIATES, INC.

@ KELLY’S
Advertising
Team—Execu-
tive Vice Presi-
dent Nancy Kel-
ly and Charlene
Storr (seated)
create the ideas
and graphics
which bring the
customers to
Kelly’s House
and Home...and
the signage
which helps
customers
locate the mer-
chandise.

(Photo:
Roland Rose)



goratu

bet fee ey, item ed

Te

Vise
gs

»)

“Con

Kelly's

ratulations!



Houses
Home

on 80 years of Quality Service

Taching, Inc., is
an experienced
importer and
wholesaler of a
large and diverse
selection of
household items.
Our ample
inventory ranges
from planters to
containers, to
everyday
household
decorative
accessories. Our
stylish designs
are generally
available in

metal, wood, and

wicker. In
addition, we also
specialize in
holiday themes.

Lgin
VG,
Sen







lations!

?

“Your friends at Dugan Bliss

in Atlanta wish you a
Happy Anniversary

and many more to come.”



b



PAGE 12F, TUESDAY, JUNE 26, 2007 THE TRIBUNE






80TH ANNIVERSARY SUPPLEMENT



caearneenetatee

We salute you on 80 years of great
service & look forward to
continued business with you.









@ THE Kelly Family in 1989 at official opening: Nancy and David’s sons joined the team one by
one. (From left) Scott, Nancy, Gregory, David, Andrew (Photo by PS News/Features)

The unthinkable — Kelly’s
expands off Bay Street

On Dec. 20th, 1988, just
four days before Christmas,
David and Nancy Kelly did
the unthinkable.

In the face of a world
recession and local depres-
sion, they took the trusted
but tired family business,
turned it upside down
and inside Out. They
EXPANDED, and on
December 20th just four
days before Christmas,
they opened as a mega-
store and anchor of the a 3
new Mall at Marathon. & SIR Lynden Pindling, Nancy Kelly, Snowbear, Lady Pindling

The 40,000 square foot and David Kelly at the opening of the new store

new Kelly’s Home Centre





Door

Crasher

One day only!
Thursday, June 28th, 2007

Sewing

Machine

35 stitch function



SINGER

«7 built-in stitches
¢ 4-step buttonholer






was one of only two stores
open for Christmas, 1988,
in the very big--but mostly
empty--new complex, one
of the first “true Malls,” to
open in the Bahamas,
enclosed and air-condi-
tioned.

They didn’t lose a day of

Bahamas Prime Minister
Sir Lynden O. Pindling,
MP, presided during Kelly’s
gala official opening at The
Mall at Marathon in Nov.,
1989.

Mrs. Lynn Pyfrom
Holowesko, then President
of The Bahamas National

Ceremonies. She revealed
that her first job was as sec-
retary to David and Basil
at Kelly’s Hardware in
1953-54.

She went on to become
FNM Senator, Ambassador
for the Environment and is
now President of the
Bahamas Senate.

¢ Free-arm

¢ 3 needle positions

« Adjustable pressure

¢ Heavy duty metal frame
¢ Powerful motor



reg $139.95 net

NE supplies last”








business in the move. Trust, was the Mistress of

Applica Consumer
Products

a division of
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proudly salutes

K i" i Houses
elly'S ‘‘fiome
as they celebrate 80 years
of service to The Bahamas











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Caribbean.

ee Bb





TUESDAY, JUNE 26, 2007, PAGE 13F

THE TRIBUNE

Congratulations!

(Aas
eC y » Home
ACME ellie [xXelaetilse Soe nar
future and congratulate you on

80 years of qualiy service!

| 30p
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THE Kelly’s opened the Wulff Rd.



branch in the late 1970s and closed it in 1989.

Big Changes

In 1965, after a Jong era of
consolidation, Kelly’s began
its expansion programme with
the opening of a branch in the
Out Island Traders Building,
East Bay St. Branches also
opened near' Kelly’s Lumber
on East St. in Nassau; in
Marsh Harbor, Abaco, Salt
Pond, Long Island and, in the
late 1970s on Wulff Rd., Nas-
sau.

In 1978, Basil Kelly and his
sons, Gary and Steven, left
Kelly’s Hardware to run
Bahamas Iron and Steel Com-
pany in Nassau and Kelly’s
Freeport, now run by Basil’s
daughter, Lynn Lowe.

David Kelly remained as

President and CEO of Kelly’s .

Hardware in Nassau. Older
brother Godfrey Kelly recalls,
“Basil was great, too, but he

decided to do his own thing.

and left David to run things.
Basil even took a sabbatical
to become chairman of the
UBP. He was a moving force
in the Bahamas National
Trust.”

Kelly’s picked up buying
power and marketing exper-
tise from the American Hard-
ware Supply. Co. which
evolved into ServiStar Corpo-
ration, with whom Kelly’s
Hardware had been associated
since 1973. This was a co-

a yrels

ecu
One day only!

4 Thursday, June 28th, 2007
ey Ee

operative of dealer-owned
hardware stores, home cen-
tres and lumberyards, nearly
4,000 strong and spread across

North America. Kelly’s
became the _ leading
ServiStar store in all The
Bahamas.









EI BY THE 1960s, Kelly’s had come a long way from its original

store on Bay Street

aN ETA CS

Congratulatio

ns!

Do it Best

° 6 outlets
¢ 18” Cord

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ta

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manufacturer and distributor of extension cords,
wire and lighting products. Woods continues to be
a leader at retail, marketing more than a thousand
electrical cords, lights, bulk wire, surge protectors
and multiple outlet devices under a variety of brands
names including “Woods, Woods Premier, Yellow
Jacket and Tradesman”.





PAGE 14F, TUESDAY, JUNE 26, 2007

THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT



Kelly’s Controller
Barry Packington -
‘The problem solver’



“During the whole time I have been at
Kelly’s, the company has been expanding,
and we have constantly had to look at the way
we do things to make sure that they aren’t
getting inefficient and obsolete. It’s what has
made the job so exciting and fulfilling,” says
Kelly’s Controller Barry Packington. He
joined the company in 1989, just after it
opened as “Kelly's Home Centre,” the huge
anchor store for the Mall at Marathon.

He recalls, “In the early days there were a
lot fewer employees and we all had to do a lot
more jobs. I used to do the Human
Resources, run the computer systems and do
some software development as well as man-
age the accounts. I am very glad that we now
have specialised and highly competent people
to handle those areas.”

He continues, “At peak times Senior
Management used to have to take their turns
on the cash registers, or act as security offi-
cers, or drive forklifts as President David
Kelly has done — whatever was needed at that
particular time.”

He adds, “I have a great respect for David
Kelly personally. The way that the company
conducts its business is essentially a reflection
of his way of looking at life. He’s as honest as
the day is long and his word is his bond. He
wants the business to be a great success, but
not by cutting corners, or being unfair to peo-
ple, whether it’s to vendors, employees or cus-
tomers. People respect that sort of attitude
and respond very positively to it.”

Considering the company’s philosophy, he
says, “One of the most exciting things about
the Kelly’s company is the way in which the
great majority of the more than 300 people
who work here have ‘bought into’ the compa-
ny, and have fully embraced the company’s
philosophy. They don’t just have jobs here,
they have careers.”

Godfrey Kelly, CMG, calls Mr. Packington,
“The problem solver.”

Barry Packington’s problem solving skills
are many and legendary, at all levels of the
company’s operation. During the countdown
to the 1989 Grand Opening for Kelly’s at the
Mall, the main computer crashed at the
company’s Public Relations firm, PS.
Advertising and PR. There was no new or
spare Mac hard drive available on New
Providence at the time and no time for a trip
to Miami. Barry Packington called a friend
and found a used Mac drive, one of the
biggest known at the time. PS. bought it at a
good price and Barry had solved problems
all round...yet again.

Surrounded by computer screens, Kelly’s
Controller says with a wry smile, “I can hon-
estly say that I have never been bored at
Kelly’s. — There are always new things to do —
new systems to develop.”

New problems to solve.

Yvonne Darville

— 32 years of
service at Kelly’s

Yvonne Darville, one of the longest serv-
ing employees at Kelly’s, is an excellent
example of what commitment, dedication,
hard work and loyalty are. And she has
worked hard to set the bar for those who
would follow in her footsteps.

For over 32 years she has embraced the
ideology of a company that places people
first and sought to carve out a niche for her-
self as a shining star - that is an individual
whose commitment to getting the job done
right is undeniable and whose love for the
work at hand has kept her motivated, satis-
fied and content.

A cashier by profession, Ms Darville has
evolved into an ambassador of sorts for
Kelly’s. In an era where companies are
faced with high employee turnover and
employee dissatisfaction, her constant pres-
ence for over three decades is evidence of
the environment within which she operates.

_ In her own words, Ms Darville says that

Kelly’s is a “great company”.

Described as very down to earth and with
an easy going personality, Ms Darville, a
single mother of four grown children, said
that one of the things that contributed to
her being employed at Kelly’s for so long is
the fact that the stress of moving from one
job to the next was not something that she
wanted to introduce into her life.

“I did not want to be moving up and
down from one job to the next," she said.

So what exactly does she love about
working with the same people every day?
Ms Darville said that it’s all about the
atmosphere and meeting people.

"I am a very nice person and I enjoy
meeting people," she said.

So the next time you visit Kelly’s ask for
Ms Darville, and take a minute to see what
a star employee looks like.









@ CASHIERS—Getting it right! (3rd from left)Elsie Knowles, (2nd from

right) Eldica Gittens head cashier



@ CASHIERS galore - getting it right! Second from left Yvonne Darville, 30-year plus

employee



@ BRIDAL and gift consultants — helping you choose professionally. (Not pictured)
Patrice Lloyd Dames, area manager, (far left) Gwen Bayles, department head

=e



@ LINENS and window coverings staff - making it up for you. (Far right)Linda Moise,

department head



oO KELLY’S padie Centre — third from
right Suzie Guest, Warehouse Manager
(Photo by Roland Rose)










M@ STORE managers and security - Keeping you serene and safe. (Back
row 3rd from left) Darnley Sealy, store manager, (2nd from right)
Shirley Paul, store manager, (back row left)Andrew Ganteaume, chief

of security, (not pictured) Denise Cox, store manager



@ OFFICE Staff—Getting the merchandise to customers.
(Tribune photo) _\eft, warehouse supervisor Gregory Mackey, second from right, asst.

(Tribune photo)





@ OFFICE staff, buyers, inventor
scenes. David Hughes, IT Manag:
ager, far left. (Photo: Roland R

@ WAREHOUSE staff - climbing the heights for you. Second from

warehouse supervisor Johnathan Gibson. (Photo: Roland Rose)

FS cas RIOT





a WAREHOUSE and delivery staff - getting it out to you. . Ethelyn Wong, delivery = I
supervisor, fourth from right. . - he



(Kelly’s Photo)

(Photo: Roland Rose)



@ THE Kelly family — from left: Andrew Kelly, Gregory Kelly, Nangj, Ke

(Photo: Roland Rose)





E z sa ee : A wa etl
i THE buying team - (left to right) Karen Darville, Bernadette
Armbrister, Taisha Lloyd, Lashanta Dugay, Deniro Lloyd

(Photo: Roland Rose)



@ OFFICE and human resources staff - administering and control-
ling the situation. (Far right)Elaine Malone, 25-year plus employee,
human resources manager Judith Adderley, second from right;

Renea Bodie, office manager, far left. (Photo: Roland Rose)





BHC

areal
HB WAREHOUSE, delivery, paint, electrical and hardware staff centri

ae



THE TRIBUNE ;

TUESDAY, JUNE 26, 2007, PAGE 15F





80TH ANNIVERSARY SUPPLEMENT -









ygontrol, advertising - working behind the
n far right; Phillip Sughrue, project man-
os




\

MORE cashiers - getting it right! Fourt
head cashier

uw KELLY’S Baby Department - Pampering your babies. Second from left h from left, Deborah McKenzie,

«orline Major, department head
is. ‘ (Photo: Roland Rose)




(Tribune Photo)




n ~ ey E Ps et
@ PAINT and plumbing, electrical departments - brightening our lives. Paint departme
head Jerome Cartwright, back row second from right; electrical department head
Terrance Paul, back row third from right; not pictured Hubert Williams, area manager
plumbing. (Photo: Roland Rose)

po

nt










B@ HARDWARE & tools - making it easy to do it yourself. Department heads Anthony
Maycock (second from left) and Muriel Scavella (centre)



(Photo: Roland Rose)



yUSEWARES department - helping your house be a home. Area man-
{uetoya Smith, second from right; department head Patrice Fox, centre.
‘ (Photo: Roland Rose)






@ LAWN & garden, home decor — Growing beauty, indoors and out. Area manager
Petrona Adderley, far right. (Photo: Roland Rose)





M@ MANAGEMENT team - this energetic team of managers make it all possible at

Kelly’s Home Centre Ltd. Seated from left human resources manager Judith

ud cans Adderley, senior buyer Susan Glinton, store manager Shirley Paul; back row from
: . ; _— ee left controller Barry Packington, IT

ME decor — department head Dionne Rahming, far left; Bridal - manager David Hughes, store manager Darnley Sealy, warehouse

nanager Patrice Dames, sixth from left; head cashier Eldica Gittens, manager Gregory Mackey, store manager Daniel Culmer, operations manager

oars” Robert Plank, vice president Greg Kelly

wee: iti

b { i







&



Taking care of
Kelly's personnel





lM KELLY’S Human Resources Manager
Judith Adderley at work (Photo by
Roland Rose)

From a staff of less than 50 in 1988,
Kélly’s now employs more than 350, plus
scores of students during the summer and
holiday seasons. Kelly’s is one of the few
businesses in The Bahamas to offer profit
sharing in addition to pensions, medical
insurance and discounts to its staff, accord-
ing to Mrs. Judith Adderley, Kelly’s
Human Resources Manager.

“We are good to our staff and they are
good to us,” beams Nancy Kelly, Executive
Vice President of Kelly’s Home Centre
Ltd.

Kelly's steadfast
employee -
Elaine Malone

IT TAKES a special type of person to
remain steadfast, consistent, content as
they move upward within the confines of
a single, structured environment - and
Elaine Malone is such a person.

Now approaching 70, Mrs Malone has,
for the last 25 years, made an important
contribution to Kelly’s Home Centre in
rendering outstanding service as the com-
pany’s vault manager.

Mrs Malone first came to Kelly’s as a



. fresh-face teenager newly graduated from

high school and she remained with the
company for some 8 years before getting
married. It was when she became preg-
nant with the first of the couple’s two
daughters that she decided that her role
as mother and wife was even more impor-
tant than the work that she was then
doing.

As fate would have it however, her rela-
tionship with Kelly’s would be renewed.
She would again come to be associated
with the company when, in 1982, after her
husband fell ill, her neighbour, who was a
manager at Kelly’s Bay Street location,
set up a job interview for her.

“David Kelly interviewed me and I got
the job. I got the job as a cashier and then
they moved me up into the office after-
wards. I was transferred from Bay Street
to the Mall in 1988 and for a while I would
go to Bay Street in the mornings and
come here in the afternoons until they
closed the Bay Street store [in 1990].”

As vault manager, Ms Malone works
closely with the cashiers. She is responsi-
ble for counting the money and ensuring
that all is in order and getting the deposits
ready to send to the bank.

“T enjoy it all. I have hectic days, I have
good days, but on the whole I enjoy it. I
like working for Mr Kelly and his family,”
she said. :

At a time when most people are retired
and spending their days doing little except

_ relaxing, Mrs Malone said that she enjoys

coming in to work every day. It seems to
be the one constant in a world of change.

“I come to work and from work home.
I enjoy what I do, I’m busy and I like that.

“I intend to work here as long as I am
able to. I won't come if I am not capable
of doing the job, I come because I want to
get out and come to work. I am 70 years
old, I have my church, I go out to dinner
with my family and my daughters.”

For a quarter of century Mrs Malone
has been a part of Kelly’s. And in recent
years she has seen significant changes.
She said that the business has grown
tremendously from its days on Bay Street.
Kelly’s has more staff members - more
than 359 - and the business itself has also
seen substantial development.

“It’s busier now generally,” she said.
“Of course periods like the Christmas
holidays are always busy, but even in nor-
mal periods the store still buzzes with cus-
tomers, and Saturdays - the crowd is at its
biggest.”

Looking to the next generation of
Kelly’s employees, Mrs Malone said that
she would encourage them to always do
the right thing and to do their job to the
best of their ability.

“We have a lot of staff in different
departments and I would just advise them
to try to do their job as best as they can to
please the company.”

Would she do it all again if given the
chance?

With all that she has experienced day in
and day out at Kelly’s, dealing with the
many different personalities and having
such a huge responsibility, Mrs Malone
said yes, she would do it all over again -
Kelly’s will always be her first, last and
only choice.





PAGE 16F, TUESDAY, JUNE 26, 2007

THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT








Reg $54.95 nei

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ongratulations!
Kelly's “fiom
on SOyears as the

he ‘Bahamas, serving
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* 7 retailer in —

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THE TRIBUNE



WARNS eS

TUESDAY, JUNE 26, 2007, PAGE 17F

80TH ANNIVERSARY SUPPLEMENT - .



Congratulations:

| Kelly must,

on 80 years of service

Saturday, JUNE 30th, 2007
Limit Five Gallons per customer
“While supplies last”

Net Item

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hopregergec eres







PAGE 18F, TUESDAY, JUNE 26, 2007

THE TRIBUNE



Congratulations!
Btitht-

Gia ee ees

on 80 years of Quality Service



Getting

80TH ANNIVERSARY SUPPLEMENT

ready for



the 20th Century

VICE PRESIDENT Barry

Packington joined Kelly’s as
Controller i in 1989. His account-
ing and management skills
brought new, fully-integrated
computerized systems, allowing
improved inventory control and
better purchasing, leading to
lower prices and quicker check-
out lines for customers. As
Godfrey Kelly observes, “Barry
is the problem solver. He has a
lot to do with the great success
of Kelly’s.”

An ever wider selection of
quality merchandise at reason-
a
consistent marketing pro-
eramme—moved quickly
through multiple check-out
points including the latest bar-
code scanners at Kelly’s many
check-out counters.

In 1993, Kelly’s again expand-
ed, adding 20,000 square feet
without interrupting the flow of
trade. A further addition of
2,800 sq. ft in 1997 expanded
the outdoor living department.







@ ‘THE Problem Solver’ — Vice President Barry Packington,

Kelly’s Controller.

Kelly’s new merchandising
and marketing methods
employed the international
expertise of ServiStar Corpora-
tion, later merged to form the
TruServe Corporation, making
Kelly’s a partner in the 10,000

(Photo: Roland Rose)

member cooperative around the
globe. Paul Pentz, the president
and CEO of Tru -Serve Corp.
was among the international
business elite attending Kelly’s
Home Centre’s 10th Anniver- ©
sary Celebrations.



# Candile-lite's everyday line delivers the highest quaiity, best
value candles for fragrance e and home décor no matter what
your budget.

Candle-lite History

Candle-lite has long been recognized as the leader in the candle manufacturing industry.




In 1959, David Kelly met a young Amer-
ican beauty in Nassau: Nancy Marie Booth.

She was visiting a former Smith College
roommate. He pursued her halfway around
the world and in 1963 married her on
March 2-one of the key decisions affecting
not just his family but the future of retail in
The Bahamas.

Although Nancy-and Basil’s wife,
Pauia—both helped out in the busy Bay St.
Kelly’s Hardware Store at Christmas, both
were busy raising their children and doing
charity work. Nancy did not join the Kelly’s
team full time until 1978.

We proudly celebrate 160 years of continuous candle making. Our history is as interesting
as the depth and breadth of our current candle product line.

Candle-lite's roots go back to the year 1840 when an English settler by the name of Thomas
Emery traveled door to door selling candles and numerous other household items.

His venture continued to grow and eventually, his son Thomas Jr. and his wife Mary furthered
the expansion by moving the candle manufacturing facility to the Cincinnati, Ohio suburb of
Mariemont.

The company was known then as "The Emery Candle Division of Emery Industries."

i NANCY and David Kelly honeymooned around
the world after their wedding in 1963 if

House g Congratulations! . 4
Home Houseg
Kelly’s Home

We salute you on 80 years of great service
to the Bahamian people S wish you

every success in the future.

Kelly's
We congratulate you on

80 years of superb business &
quality customer service to the

Islands of The Bahamas!



Git bt :
cca 7 \,|
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Friday

Be WA) ter A yg
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THE TRIBUNE

,



TUESDAY, JUNE 26, 2007, PAGE 19F

80TH ANNIVERSARY: SUPPLEMENT



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PAGE 20F, TUESDAY, JUNE 26, 2007



Congratulations and we wish

you every success in the near
future and continue to make
your company the
#1 Home Centre in
The Bahamas.

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THE TRIBUNE





Kelly s Lumber Yard, nearly 100% different

Ik ELLY’S Lumber 1s
under new management

for the first time since it was
founded by Capt. Charles Jordan
Kelly in 1916—but, the owners
are still the same family, Kelly’s of
course. Kelly’s Home Centre Ltd.
President David Kelly has taken
the venerable lumber company
under sophisticated umbrella of
his company’s management team.

Sea Captain Charles Jordan
Kelly, David Kelly’s grandfather,
founded Kelly’s Lumber in 1916.
He was born in Harbour Island.
Capt. Charles retired from the sea
in the early 20th Century and
moved to Nassau where he cre-
ated first a grocery store...which
did not succeed, and then Kelly’s
Lumber incorporated in 1932 and
still exists, another of the coun-
try’s oldest company’s under the
same family ownership.

Danny Culmer, Kelly’s Lum-
ber’s new manager, came up
through the ranks at Kelly’s
Home Centre.

He is determined to make Kel-
ly’s Lumber run just as smoothly
as Kelly’s. “Sales are already up
about 300 percent,” he beams.

Alec Packington, Yard Manag-
er at Kelly’s Lumber, points out,
“Tt’s going well. Everything is dif-
ferent, the shop, management,
what we have in stock. Since April
last year we have remodeled the
shop, torn down half a building
and cleaned up the yard.”

Manager Danny Culmer is
working closely with Kelly’s Vice
President Greg Kelly to improve
the buying for Kelly’s Lumber.
He’s proud of Kelly’s Lumber’s

~ new solid wood cabinets and gran-

ite slab counter tops, high end
asphalt shingles...all at very com-
petitive prices. “A lot of people
just don’t have any idea what we
have here at East Street. We’re
going to change that.

“We can do an apartment
kitchen for about $1,400, a 10 by
10 kitchen for $3,400 and put an 8
ft. slab of granite in for under
$500."

While bringing new products
and merchandising techniques,
the new management team is also
proud of the 22 people they work
with at Kelly’s Lumber. “Some of
them started here when they were
13 years old and this lumber yard
is their whole life,” says Mr. Cul-
mer. He is bringing the benefits of
working for Kelly’s Home Cen-
tre to the staff at Kelly’s Lumber.

He says, “I’ve worked for Kel-
ly’s for 23 years. It’s a good com-
pany, a fair company. The benefits
are great, pensions and profit





sharing. You work hard and you
get rewarded.

“That black and white thing
does not apply. It’s not like that at
all. ’ve never had a problem in all
these years.”

He thinks a moment and adds,
“T represent so much of what Kel-
ly’s is about. I do what I have to
do and expect our employees to
do that, too. Just don’t do any-
thing wrong. I try to be firm but
fair. I try to put street smart and
book smart together as a role
model.” ;

He jokes that his inspiration is
“Keeping my pay check growing.”
Born in Grand Bahama, Mr. Cul-
mer came to Nassau to try a bank-
ing career. “But, that was going to
need six more years of school.
When I saw the options at Kel-
ly’s, I stayed.” He moved into
middle management in six months
and now runs a whole new area of
the business.

He salutes the memories of C.
Trevor Kelly, founder Charles
Jordan Kelly’s second son, and
Charles G. E. Kelly, the third son,
who ran Kelly’s Lumber Yard all
their lives.

Mr. James Daniels, a fork lift
driver for 40 years at Kelly’s Lum-
ber, says, “Trevor Kelly, he assist-
ed us who wanted to build our
houses. Charles G.E. Kelly, and
Betty Kelly Kenning, they were
my buddies. We grew up together.
They were like my mother and
father.

They treated me nice.”

Fondly .know as “Uncle
Trevor”, Trevor Kelly was an
astute businessman and politician.
He was a member of the House of
Assembly and served as Minister
for Maritime Affairs in the UBP
Government. He is locally
famous for the private “Bahamian
mortgages” he provided, making

Congratulations!

LOE







@ THE original business
licence from 1916 to start the
Lumber Yard

nesses possible over the decades.
In return, the mortgage holders
bought their building supplies
from Kelly’s Lumber & Kelly’s
Hardware.

Trevor Kelly was a distin-
guished member of Parliament
for Eleuthera for many years.

“Uncle Trevor” once reluc-
tantly turned down a loan appli-
cant saying, he was sorry, but he
had just bought a boat and didn’t
have that much spare cash handy.
The “boat” was “The Betty K.,”
named for his daughter, Mrs. Bet-
ty Kelly Kenning, and responsi-
ble for transporting a large por-
tion of the nation’s goods from
Florida to The Bahamas.

In 1965 Trevor Kelly was hand-
ed a budget of 40 million dollars
to expand and deepen the Nas-
sau Harbour to accommodate the
largest cruise liners in the world at
that time. He completed the pro-
ject 3 million dollars under budget
and three months ahead of sched-
ule.

In the process he provided the
country with an additional island
in the form of Kelly Island, now
Arawak Cay.

Yard Manager Packington
sums up Kelly’s Lumber Mission
statemeni: “We’re trying to get
our share of the lumber business.
Clean it out and make it well run.
We'd like Kelly’s Lumber Yard
to be running as smoothly as Kel-
ly’s Home Centre.

At the moment we are in need
of a new building and should have
it in 18 months.

“We sell, lumber, doors, win-
dows, everything to build a house
except concrete blocks. We also
have cement, shingles, tropical
decking, and lots more. We are
planning to bring more things in,
finding our way. It takes a year
to get a good customer history of
what people want.”

Mr. Daniels stops his forklift
and looks: around in amazement
at the NEW Kelly’s Lumber, his
realm for 40 years. He shakes
his head and says, “It’s changed
100 percent. Everytiing’s better.”

gel

Home

on 80 years of Quality Service in the
retail business, we look forward to
Rey ie) business with you!

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80TH ANNIVERSARY SUPPLEMENT



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PAGE 22F, TUESDAY, JUNE 26, 2007

THE TRIBUNE



80TH ANNIVERSARY SUPPLEMENT



‘th



THE amazing Kelly family _ ing fire and hurricane protectio

ness in Nassau for 30 years sell-









_ Insurance, too
-—for 30 years!

n Licensed General Insurance out

was even in the insurance busi- from the 1930s to 1960s, David —_ of England and eventually was
Kelly remembers. It was called — sold to Fane Solomon.

DAVID WRESTLES
WITH RETAIL
(FOR 56 YEARS)

David Kelly literally grew up in
the family business, becoming its
president on the 8th of July, 1983.
He is now is in his 56th year of
“wrestling with retail.” ;

Along with his brother, Basil--
David joined the Bay Street store
full time at age 19 in 1951, imme-
diately after his graduation from
McDonogh. (He was inducted into
the prestigious school’s Athletic
Hall of Fame in 1988 and was three
times Maryland State Wrestling
Champion, beaten only once in nis
six year wrestling career, by a
future Olympian. He also repre-
sented the Bahamas international-
ly, sailing with brother Godfrey, in
the Mexico ’68 and Germany’ 72
Olympic Games.)





8) so WRESTLING CHAMP -
: McDonogh inducted David

e : Kelly into its Athletic
: Hall of Fame in 1988.
: He was Maryland’s State
: Champion in wrestling for

three years and runner-up
one year. He has been
wrestling with retail ever

since his graduation from
a a ( e : MecDonogh in 1951 — 56
i years!

FIFTY YEARS - David Kelly, head of Kelly's at the Mall of Marathon, was "roasted" by
friends at a surprise party held at Buena Vista in 2002 to celebrate his 50 years of "wrestling —:
with retail". About 130 guests attended the party. Here Mr Kelly is seen with his wife, : B WRESTLING WITH
Nancy. ' : THE WIND--David (left)
: _. wrestled with the wind as an
Olympic sailor in
Mexico and Germany.

Fz
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TUESDAY, JUNE 26, 2007, PAGE 23F

THE TRIBUNE











recat

on 80 years of Quality Service in the retail |

business, we look forward to continued
business with you!

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80TH ANNIVERSARY SUPPLEMENT |



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PAGE 28F, TUESDAY, JUNE 26, 2007 THE TRIBUNE



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A part of your life and The Bahamas since 1927

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le
“pe STORM

Volume: 103 No.178



MOSTLY CLOUDY,

Senator Hepburn speaks
on ‘importance of bringing
respect to judicial system’

@ By ASHLEY THOMPSON

ATTORNEY General Claire
Hepburn during yesterday's
Senate debate on the budget
slammed the previous adminis-
tration’s handling of the judi-
ciary and stressed the impor-
tance of bringing respect and
dignity to the judicial system.

This objective, she said, aims
to help continue protecting the
freedoms guaranteed in this
country.

Senator Hepburn also
explained that the importance
of an independent judiciary is,
“to protect the ability of judges
to look after citizens, and to dis-
charge the task essential for the
citizens’ well being”.

An independent judiciary is
also considered important “as
it is only an independent judi-

PLP govt ‘warned
MURR IND
loss if wharf was
MOC IPTC

B By ALISON LOWE
Tribune Staff Reporter



















THE former PLP govern-
ment ‘was warned more than
two years ago that the
Bahamas would lose four
cruise ships if it did not expand
Prince George Wharf’.

This was the claim yester-*
day by senator and minister
for labour and maritime affairs
Dion Foulkes in the senate, in
the wake of an announcement
by Royal Caribbean cruise line



SEE page nine



ciary that can administer justice
fairly”.

This is also the only way that
the “basic rights and freedoms
of citizens can be protected,”
she said.

To begin this process Sena-
tor Hepburn said that the new
administration will seek to
ensure “the executive and leg-
islative branches of the govern-
ment do not in anyway seek to
interfere or even appear to
interfere in the independence
of the judiciary”.

Senator Hepburn also
addressed comments made on
websites questioning the justice
one would receive under the
FNM government. It was
announced that those who have
respect for the judiciary should

_ SEE page nine

Tourist arrivals
‘to increase in
next few months’
m@ By TANEKA THOMPSON

TOURIST arrivals to the
Bahamas are expected to
increase over the next few
months, according to experts.

As reported by The Tribune,
the loss of cruise ship stopovers
by, major cruise line Royal
Caribbean has caused a sub-
stantial blow to income derived
from the industry. The cruise
line has reportedly removed
four ships from its Nassau route
in favour of Europe and other
destinations.

Royal Caribbean ships stay in

SEE page nine



The Taste on Tuesdays !!
Buy any large pizza with 2 or more
toppings & Get a medium
1-topping pizza absolutely

(ALID ONLY ON TUESDAYS!



BAHAMAS EDITION

he Miami Herald



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TEA RLU
i al



@ 28-YEAR-OLD David Cie pene of Bar Lane, Grand Bahama at court era
(Photo: Tim Clarke/Tribune staff)

@ A MAN, 28, was arraigned in magistrate's
court yesterday charged with murder and

attempted murder.

David Cooper Cunningham, of Bar Lane,
Grand Bahama, was arraigned before Chief
Magistrate Roger Gomez at Court One, Bank

Lane, yesterday.
Court dockets allege that on Tuesday, June 12,

Cunningham intentionally caused the death of

Marvin Lightbourne.

SEE page nine



Lawyer hits back at PM’s election court comments

@ By ALISON LOWE
Tribune Staff Reporter

A MEMBER of the PLP's
legal team has condemned com-
ments made by prime minister
Hubert Ingraham in which he
said it would be the former gov-
erning party that would be held
responsible for the costs that may
arise from the forthcoming elec-
tion court contest.

Lawyer Philip Davis said that
as the matter is before the courts,
Mr Ingraham spoke "premature-
ly" and inappropriately when he
said on Sunday that the govern-
ment would not have to pay legal
costs because, Mr Ingraham
claimed, it would be the PLP's
mismanagement that would be
responsible for any discrepancies
on which their case may rest.

Another lawyer for the PLP,

Wayne Munroe, has stated previ-
ously that their case primarily is
based on the assertions that per-
sons registered and voted in con-
stituencies other than that in
which they live, and that non-cit-
izens voted.

Mr Davis said: "I don't know
how he can say that (about the

SEE page nine

More donations
for the dialysis
machine campaign

DONATIONS continue to
pour into Tile King, FYP, Ltd
and The Tribune’s campaign to
raise funds to provide badly
needed dialysis machines for the
Princess Margaret Hospital’s dial-
ysis unit.

Family Guardian & Bahama
Health has donated $20,500 to
the fund, which will purchase a
full unit inclusive of installation
cost, staff training and technical
support for a year. Also donating
to the fund was Damianos Sothe-

SEE page nine

Fatricia
Real Estate Agent





@ FAMILY GUARDIAN DONATES UNIT: Linda Jarret, Vice
President, Group Life & Health (BahamaHealth) presents a cheque
for $20,500 to Robert Carron, The Tribune, with Anne Higgs, Vice
President, Human Resources & Public Relations, Family Guardian,
to purchase a dialysis machine for the Princess Margaret Hospital.

Christie: PM has
to continue PLP
work left in place
for Bay Street

@ By PAUL TURNQUEST
Tribune Staff Reporter

PRIME Minister Hubert
Ingraham has no choice but to
continue the work that the PLP
left in place for the revitaliza-
tion of Bay Street, PLP leader
Perry Christie said yesterday.

Mr Christie, who spoke
emphatically about the removal
of the container port on Bay
Street and the beautification of
downtown Nassau, said that the
current Prime Minister has no
vision, and should stop seeking
to dismiss projects that the for-
mer government left in place,
simply because they were “PLP
ideas”.

Mr Christie said that the revi-
talization of Bay Street would
include signature developments
that would ensure the future of
not only that region, but of New
Providence. As such, the FNM’s
decision to discontinue this
work, which Mr Christie said

"

SEE page nine

Convicted
murderetr’s
appeal is
adjourned

@ By NATARIO McKENZIE

THE appeal hearing of con-
victed murderer Cordell Farring-
ton was adjourned for a second
time yesterday when the court
was informed that Farrington's
new lawyer needed more time to
prepare for the appeal.

Farrington is appealing his
death sentence for the 2002 mur-
der of Jamal Robins, 22. The sen-
tence was handed down in Octo-
ber 2006 by Senior Supreme
Court Justice Anita Allen. In her
judgment Justice Allen had stated
that she was satisfied beyond a
reasonable doubt that the appro-

_ priate sentence was death.

On August 18, 2006, an eight-
man four-woman jury unani-
mously found Farrington guilty
of the 2002 murder of Jamal
Robins. The murder took place
at an apartment at Mallory Lane,
Freeport. Some of Robins’
remains were found in an area
off the Grand Bahama highway.
At the trial a pathologist revealed

SEE page nine

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PAGE 2, TUESDAY, JUNE 26, 2007

THE TRIBUNE





An open let

—=



r to Mrs

Allyson Maynard-Gibson

D ear Mrs Gibson:

FIRST of all, I have a public con-
fession to make. It is a confession I
have made privately to some of my
readers who have accused me of hav-
ing a soft spot for certain people in the
PLP.

They have made remarks like
“Why did you go so easy on
Allyson?” and “Why do you never
criticise Glenys?”

On those occasions when I felt I
had no choice but to criticise you —

even if with great restraint — for your
actions in the political arena, someone
close to you accused me of wielding a
“poison pen”.

He obviously did not know that the
definition of “poison pen” is an abu-
sive or slanderous anonymous letter.

. I took it that he meant I had been
too severe in my criticism of you,.or
perhaps he meant that I should not
have criticised you at all.

I could have given him an example
of what a scathing attack really looks
like but I said to myself, “If only he
knew”, and offered no response but a
smile.

The truth is (and this is the confes-
sion) that I have indeed nurtured a
soft spot in my heart for a number of
people in the PLP, including you and
your former ministerial colleague,
Glenys Hanna Martin. I will explain.

Be now (if I might borrow
words from my friend and
comrade, the late Sir Cecil Wallace
Whitfield), my soul dances as I recall
the days when I was privileged to strug-
gle alongside some very courageous
Bahamians and to do my little bit for
the achievement of majority rule and
the full social, economic and political
emancipation of the Bahamian people.

One of them is Bahamian national
hero Arthur Hanna, who was on the
frontline from beginning to end. Anoth-
er is his wife, Beryl, a truly remarkable
Bahamian woman.

I say Bahamian because although she
was born in Britain, she came here, iden-
tified thoroughly with the Bahamian
people and their just cause, and became
one of us. They are the parents of Glenys
Hanna Martin.

Then there is Clement Maynard who
also played his part in the struggle along
with his wife, Zoe. And, of course, there
was the late Georgina Symonette May-
nard, a tireless crusader for the rights of

oa HUR |













Bahamian women and for majority rule.
They are your parents and grandmother.

Your parents know of the involve-
ment of all of us who later went on to
form a new political party and who were
known as the Dissident Eight, and two
others who were called Number Nine
and Number Ten:

Cecil Wallace Whitfield, Warren

_ Levarity, Maurice Moore, Curtis McMil-

lan, Elwood Donaldson, Jimmy Shep-
herd, George Thompson, Arthur
Foulkes, Kendal Isaacs and Orville Turn-
quest.

You know fuil well that all of the Eight
were elected to the House of Assembly
in 1967 as a part of the group that ush-
ered in majority rule.

You know that some of them had been
fully engaged in a long and arduous
struggle and had made great personal
sacrifices to reach that day. ~



By what perverted mental processes
could you come to compare us with
murderous slave masters? ... How |
could you, in just a few short minutes,
spew such a torrent of wicked lies?









Sir Cecil... did not want us to.
exchange the imperial masters
only to be abused by corrupt and
tyrannical local masters whose main
objective was to become richer than

all their tribe.



You know that Mr Levarity and I
were among those who advocated



Bahamian independence as far back as
the Fifties, and were reprimanded by
the leaders of the PLP for bringing
up the issue in public.

You know that Sir Cecil suggested
in 1967 on the floor of the House of
Assembly that perhaps The Bahamas
should consider making a unilateral
declaration of independence.

I know that you know all these
things, Mrs Gibson, and that you
have heard them repeatedly recalled.

Yet on the floor of the Senate last
Friday you likened us — the roots of
the FNM - to the slave master who
tortured to death a slave girl, poor





black Kate, in the 19th century. Then

you went on to say that we were

opposed to majority rule and inde-
pendence.

By what perverted mental process-

es could you come to compare us with
_ murderous slave masters?

How could you malign us in such a
fashion, Mrs Gibson, especially those of
us who have passed on and are not able
to defend themselves?

How could you stand there and slan-
der all of us like that?

How could you, in just a few short
minutes, spew such a torrent of wicked
lies?

How could you, with a counterfeit
smile on your face, refer to Sir Cecil as
“Uncle Cecil” while spitting on his
grave?

You know full well that the Sir Cecil
who advocated independence in 1967
and warned against independence under
Sir Lynden Pindling in,1972 was the
same man but with an added experience.

The Sir Cecil who spoke in 1972 had,
along with the rest of us, been publicly
condemned as a traitor by PLP col-
leagues.

In an orchestrated attack at Lewis
Yard he had also been beaten over the
head with a metal chair because he dared
to criticise the leadership of the PLP.

There had also been an attempt on
his life by a knife-wielding would-be
assassin in Parliament Square.

D o you wonder that under these
circumstances he questioned ~

whether we had attained the level of
maturity necessary for a successful tran-
sition to an independent and tolerant
democracy?

Sir Cecil had also witnessed the rapa-
cious greed and corruption that was
threatening to consume the PLP along

with a growing personality cult. He was
stunningly correct when he warned about
possible disaster, as the events of the
first decade of independence clearly
demonstrated.

You remember that, Mrs Gibson.

The country was indeed brought to
the edge of disaster when the Colom-
bian drug dealers took over and the bank
accounts of some in very high places
were stuffed with unidentified deposits.

The country has not yet — may never —
fully recover. from those dark days when
the best Bahamian values and traditions

were swept aside in an avalanche of . :

greed, corruption and unprecedented
violence.

Sir Cecil did not want to see his coun-
try go the way of some others. He was
aware of the familiar pattern of high
hopes and eventual disaster in some ter-
ritories emerging from colonialism.

This pattern had been dramatically
portrayed in two novels by Nicholas
Monsarrat: The Tribe That Lost Its Head
and Richer Than All His Tribe.

You should read these books if you
have not read them before or if you have
forgotten them, and you should read
more post-colonial history. Then take a
long, hard look in the mirror.

S ir Cecil did not want our beloved
Bahamas to be like that. He did
not want us to exchange the imperial
masters only to be abused by corrupt
and tyrannical local masters whose main
objective was to become richer than all
their tribe. aby os

Sir Cecil had come to lose faith in
some colleagues who talked a lot about
people like poor black Kate while using
the inheritance of the very same people
to stuff their private bank accounts.

It was through the rare courage and
determination of Sir Cecil and others
that a healthy two-party parliamentary
democracy survived in The Bahamas.

I am glad that I am able to defend his
good name and his place in history from
your brand of revisionist vandalism.

I also believe that when all of us will
have passed off the scene, others will be

informed enough to defend us from your °

malicious misrepresentations.

More importantly, I pray that there
will always be champions like Sir Cecil to
defend our country against the demons
let loose in the Seventies and Eighties,
demons that are still very active today.

Sincerely

Arthur A Foulkes

sirarthurfoulkes@hotmail.com
www.bahamapundit.typepad.com



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: For the stories :



Three held
after police
discover
machine gun

POLICE say that tips from
the public ied to the discovery

- of a machine gun late Sun-

day night.

ASP Walter Evans said
around 11pm officers from
the mobile division had rea-
son to stop and search a
green Chevy Lumina in the
area of Blue Hill Road South.

Police found a machine
gun and an imitation hand-
gun. As a result, two men
aged 21, along with an 18-
year-old female, were arrest-
ed and taken into police cus-
tody. ASP Evans thanked the
public for its assistance, which
led to the discovery.

"The public saw what was
happening and information
was passed on to police.
Police then had reason to
stop that vehicle," he said.

Club owner
admits selling
liquor without

having licence .

THE proprietor of the

Ocean View Night-Club,in-

Jones Town, Eight Mile
Rock, was charged in Eight
Mile Rock Magistrate Court
on Monday.

Geno Jones,
Regency Park, North
Bahamia appeared before
Magistrate Debbye Ferguson.
His arraignment stems from a
police raid on June 8 at the
establishment in connection
with an alleged breach of the
Liquor License Act.

Jones, who initially failed
to appear in court on June
13, was arrest on a bench
warrant and subsequently
arraigned.

He pleaded guilty to sell-
ing an assorted amount of
intoxicating liquor without
first obtaining a licence from
the proper authority.

‘He was sentence to a fine
of $100 or three months
imprisonment. ,

Jones, who allegedly failed
to produce a valid business
licence during the police raid
on June 8, told the Court that
he has since secured a valid
licence for the premises.

Magistrate. Ferguson
adjourned the matter to
Tuesday (June 26) in order
for him to produce that
licence to the court, at which
time a decision will be made
regarding the disposal of the
confiscated inventory.

Man faces
charge of
armed
robbery

A MAN was arraigned in
Magistrate's court yesterday
on an armed robbery charge.

It is alleged that Don-
navone Sturrup alias 'Tin
Man", 23, of Nassau Village,
robbed Wilshire Beneby of
$800 on Thursday March 2,
2007.

Sturrup, who was arraigned
before Magistrate Susan
Sylvester at Court 11 Nassau
Street, was not required to
plead to the charge and was
remanded to Her Majesty's
Prison. The case was
adjourned to October 5.

The Music... That’s Y!



35, of .

at
he

THE TRIBUNE

LOCAL NEWS.

TUESDAY, JUNE 26, 2007, PAGE 3





Majors due
to appear

in Court of
Appeal today

DWIGHT and Keva
Major are expected to
appear in the Court of
Appeal today as they get set
to take their appeal to the
Privy Council.

Last October, the Majors
were granted conditional
leave to prepare for their
appeal before the Privy
Council and have since
required additional time to
prepare their appeal, having
acquired new counsel, attor-
neys Keod and Kean Smith.

In May, 2006, the Majors’
bid to avoid extradition to
the United States on sub-
stantial drug charges was
dealt a major blow when the
Court of Appeal ruled that
their appeal to overturn a
judge's ruling against their
habeas corpus application
was without merit.

The Majors are wanted
by the US government to
face drug charges reportedly
related to an international
conspiracy involving hun-
dreds of pounds of cocaine.

Today, the Court of
Appeal is expected to deter-
mine whether final leave to
appeal to the Privy Council
should be granted.

Man treated
in hospital

after attack
with cutlass

AN argument over a
phone card has left one man
in hospital in serious condi-
tion, according to police.

Press liaison officer ASP
Walter Evans said around
11pm on Sunday a man in
his early twenties got into an
argument with a group of
persons over a phone card.

The incident occurred in
the Nassau Street area. The
man was hit about the body
with a cutlass.

Phone card
vendor is
robbed by
gunman

THE vendor of a Quick
Cell booth on East Street
South was robbed by an
acried gunman on Sunday
nizht, according to police.

Around 7pm. a man dri-

. ving a red Nissan Sentra

pulled up to the booth and

_ robbed the employee of $700

cash and several phone cards.
The robber then sped away.

Based on information
police have received in
regard to the description of
the vehicle and the registra-
tion number, it is believed
the car was stolen.

Memorial
planned for
cruise ship
passenger

A MEMORIAL service is
scheduled for tomorrow for a
North Carolina man who dis-
appeared from a cruise ship
last week near the Bahamas.

Brent Smith was last seen
one week ago aboard the
Freedom of the Seas, which is
owned by Royal Caribbean
International.

The ship turned around
shortly after Mr Smith was
reported missing on the
morning of June 18. The
Coast Guard also launched a
search but called off its
efforts after officials decided
it was unlikely search teams
would find Smith.

The date of his death was
listed as June 18 in an obitu-
ary placed in the Wilson Dai-
ly Times on Monday by the
Seymour Funeral Home. The
funeral home says Smith,
who is from Fremont, will be
remembered at a service on
Tuesday night at United in
Christ Church in Goldsboro.

The ship docked in Puerto
Rico to allow FBI experts to
investigate whether foul play
was involved.

Bia
eis

FOR PEST PROBLEMS
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Hi GLENYS Hanna-Martin

Foulkes defends founders of FNM
against attack by Maynard-Gibson

@ By ASHLEY THOMPSON

ALLEGATIONS made
against the FNM and its origins
were addressed by Senator
Dion Foulkes during the Sen-
ate debate yesterday.

He claimed that Senator
Allyson Maynard-Gibson
“maliciously, viciously attacked
my party and its present lead-
ership and, more seriously, the
founders of the Free National
Movement.”

Senator Gibson alleged that
“The roots of the FNM were
opposed to majority rule and
independence.”

Senator Foulkes declared that
this statement was based on
untruths. -

He emphasised that this was
an assault on the founders who
were still living and an injustice
to those who had died in past
years.

These ten men, eight of
whom were members of the
Dissident Eight, were previous





members of the Progressive
Liberal Party, as well as mem-
bers of parliament.

Senator Gibson defended her
statement, claiming that she did
not use the names of any of
those men. She also confirmed
that, as members of the Pro-
gressive Liberal Party, they
could not have opposed major-
ity rule.

Senator Foulkes insisted that
the roots of the FNM had to be
the founders of the party and
that there were no other possi-
ble roots. He also said that she
did use Sir Cecil Wallace Whit-
field’s name in her speech.

He contradicted Senator
Gibson’s statement about the
Free National Movement’s
roots opposing independence
by reminding the Senate that
some of the founding members
were advocates of indepen-
dence before Sir Lynden Pin-
dling.

These persons were rebuked
by the PLP in the 1950s and

Hanna-Martin: we were planning
for dredging of Nassau harbour

@ By PAUL TURNQUEST
Tribune Staff Reporter

THE former Minister of
Transport and Aviation Glenys
Hanna-Martin lashed out yes-
terday at current Minister of
Tourism Neko Grant for his
statements on the Royal
Caribbean Cruise Line pulling
its cruise ships from the
Bahamas.

Mrs Hanna-Martin, flanked
by many of her former minis-
terial companions and PLP
leader Mr Perry Christie, held a
press conference in the opposi-
tion office opposite the House
of the Assembly.

Mrs Hanna-Martin said:
“Let me begin by’stating that

@ DION Foulkes

1960s when they spoke about
the Bahamas becoming inde-
pendent.

Senator Foulkes did admit
that in 1972 Sir Cecil Wallace
Whitfield, who had been a sup-
porter of independence, was
against independence at that
specific time. This was due to
concerns he had about the
country being led by Sir Lyn-

McAlpine welcomes bringing duties
and taxes on imports together

@ BY DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Senator Rev
Frederick McAlpine believes
that the amalgamation of cus-
toms duties and stamp tax on

" imports will encourage Bahami-

ans to be “more honest and
forthright in their dealings with
regard to paying custom
duties.”

“I enthusiastically share the
views of our government to
amalgamate or bring together
custom duties and tax stamps
on imports,” he said in his bud-
get communication to the Sen-
ate last week.

Senator McAlpine said the
government plans to have this
accomplished in time for the

‘2008/2009 budget.

He said he believed that, by
amalgamating custom duties
and stamp tax, seeking to main-
tain a low, stable and pre-

_dictable level of taxation in

accordance with the rule of law,
encouraged compliance and
reduced the advantages of
avoidance.

“TI long for the day when
there won’t be three different
types of duties on vehicles being
imported into the country. I
often think the lower the duty,
the more compliance we will
have — the more compliance,
the greater the revenue,” he
said.

Senator McAlpine reported
that the government is expect-
ing a surplus in this fiscal year of
$25 million.

“The estimate recurrent
expenditure for this year is one
billion, four hundred and sixty-
five million dollars. Our rev-
enue income is estimated to be
one billion, four hundred and
ninety million dollars. That’s
why this is referred to as a bal-
anced budget.

“Our outgo is not more than
our intake. If we maintain this
we won’t have any economic
fall-outs. It is basic economics: if
your outgo is more than your
intake it leads to your financial
downfall. Prudent fiscal man-
agement is the hallmark of this
government, distinguishing it
consistently from other admin-
istrations,” he said.

Senator McApline pointed
out that there are 10 main
sources of tax revenue to the
government’s treasury. He not-
ed that import and export duties
are the number one source of
revenue for the government.
They are listed from highest to
the least.

1) Import and Export Duties

2) Stamp Taxes

3) Tourism Tax

4) Property Tax

5) Motor Vehicles

6) Gaming Tax

7) Company Fees

8) Insurance Company Fees

9) Bank and Trust Company
Fees :

10) Other Taxes.

He said government contin-
ues to promote budgetary pru-
dence and economic responsi-
bility on behalf of the Bahami-
an people.

“We seek to govern ethically,
fairly and, most of all, be
accountable to our nation as we
act for all and on behalf of all.
We seek to establish trust in
governance once again. .

“Tam extremely grateful,
consistent with our govern-
ment’s policy to be apparent
and answerable, that they have
decided to submit to the Lower
House of each fiscal year a mid-
year budget statement.”

He explained that the state-
ment would set out the bud-
getary background of the fiscal
year to date; the fiscal perfor-
mance in the first six months;
and even more so, submit any
proposed additions to expendi-
ture for approval.

“It is unfortunate, but our
predecessors failed to do this;
spending all kinds of funds that
had minimal, if any accounting
for, especially at the end of their
tenure in office.

Senator McAlpine. said this
also allowed government to
deal with unforeseen cata-
strophic and cataclysmic occur-
rences.

“This is real governmental
responsibility and accountabili-
ty at its best. Our government is
a government for the people,
by the people, with the people
and from the people.

“Our people trust us to do
their business and to create
sound, economic policies that
will better us as a people and
strengthen generations to
come,” he said.

Maynard-Gibson under fire for ‘public
relations stunt’ with new law school

FORMER Attorney General
Allyson Maynard-Gibson has
come under fierce attack from
her successor over an alleged
“public relations stunt” in rela-
tion to the Eugene Dupuch Law
School.

Senator Claire Hepburn said
the ground-breaking ceremony
for the law school building
ought not have taken place “as
the property had not yet been
conveyed to the proper author-
ities.’

Mrs Maynard-Gibson was
reportedly advised not to hold
the ceremony as the land was

not yet the property of the gov-
ernment.

Her response was that there
was a Cabinet council for the
National Insurance Board to
transfer the land and that the
only thing needed was for the
Ministry of Works to follow
through.

Senator Hepburn expressed
dismay, claiming the ceremony
was “a public relations stunt”
which the former Attorney Gen-
eral allowed “the dignity of her
office to be a participant (of)”.

At the time of the ground-
breaking ceremony on Decem-

ber 11, 2006, no contract had
been signed, nor had the prop-
erty been conveyed to the rele-
vant authority.

Senator Hepburn also justi-
fied the FNM’s inclusion of the
construction of the law school in
the 2007/2008 budget.

She informed the Senate that
it was well-known that the
Bahamas government had com-
mitted to building the law
school and that decision did not
have anything to do with
whether or not a ceremony was
held on land not owned by the
proper persons.

either the honourable minis-
ter does not know the facts
because he either has not tak-
en the initiative or the time to
apprise himself of the facts, or
he alternatively does know the
facts, and has decided to mis-
lead the public for cheap polit-
ical gains. Either way, his
assertion is false and, I might
add, irresponsible.

“It is most unfortunate that
this FNM government has
decided to draw Royal Cruise
Lines into a domestic political
row. Royal Caribbean has
been a major cruise player in
this country over the years,
and it is wrong that this minis-
ter is using it to create political
mischief, or to generate mis-



HB ALLYSON Maynard-Gibson

den Pindling.

At the time, Whitfield saw
the greed, corruption and intol-
erance that was prevalent in the
current government. The first
ten years after independence
was a “near disaster”, Senator
Foulkes said. He also claimed
that the country is still recov-
ering from the reputation it
received at the time.







conceptions and innuendoes,
or to perpetuate dishonesty for
partisan political reasons,” she
said.

Previously, Minister Grant
had stated that the former PLP
government had done nothing
to facilitate the dredging of the
harbour to accommodate the
larger, mega cruise ships. As a
result, he said cruise lines like
Royal Caribbean had pulled out
of the Bahamas.

However, Mrs Hanna-Mar-

tin, who had responsibility for

the dredging of the Nassau har-
bour when the PLP was the
government, said the former
government had been planning
and preparing for such a dredg-
ing for more than two years.

Senator Foulkes said those
he believed Senator Gibson was
attacking were men who fought
for the equality of Bahamian
women as well as the right of
the Bahamian people to move
from island to island.

Although these men were not
able to convince the British gov-
ernment to give full equality to
Bahamian women, they did per-
suade them to stop the PLP
from forcing Bahamians to
remain on the Out Islands
where they were born.

The progress the founders of
the Free National Movement
instilled in their party is some-
thing that Foulkes stressed is
still around today as a few
members of the FNM today
were originally born into PLP
families.

Senator Foulkes also empha-
sised how this progress shown
by the founders of the Free
National Movement goes
against the original statement.
made by Senator Gibson.

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PAGE 4, TUESDAY, JUNE 26, 2007

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE










THE WEARYING battle on immigration
continues in the US Senate, where once again
rational reform faces a test of survival. A vote
expected Tuesday requires 60 senators to pro-
ceed. Earlier this month, a similar vote failed.

Too many senators disliked pieces of the
sprawling bill. Indeed, the compromises aren't
pretty. There are flaws and omissions. But the
bill now has a new amendment, supported by
President Bush, to spend $4.4 billion for border
security, which should reassure some critics.
The bill also has an asset the country badly
needs: progress.

Senate members should dig deep and find
the political will to move this bill forward. The
country needs the shove. National policy has
been stuck for years.

The bill would increase border protections,
set up a guest worker programme, and create a
way for the estimated 12 million people who are
here illegally to pay a $5,000 fine and pursue cit-
izenship. It’s a sound attempt to modernize and
face up to real limitations, including the fact
that it’s hard to deport 12 million people.

Still, the political process is harrowing. Sen-
ator Edward Kennedy has been accused even by
supporters of.compromising too much. And
other senators are wary of angry voter backlash.

Outside Washington, however, there’s
impressive clarity. A letter sent to Senate major-
ity leader Harry Reid from the Western Gov-
ernors’ Association urges the Senate to pass

PARIS — They came, they met, they agreed
that more must be done, but a gathering here
aimed at solving the crisis in Sudan’s
Darfur region ended Monday with little visible
progress.

“We really must redouble our efforts, and I
think that that was the spirit of today’s confer-
ence,” Secretary of State Condoleezza Rice said
at a brief news conference after the day of closed
meetings.

“The point here was to take stock of where we
are and to make sure that we are doing every-
thing we can.”

The French foreign minister, Bernard Kouch-
ner, said the delegations from 18 countries —
including Sudan’s major donors, the Group of 8
industrialized nations and China — had reaf-
firmed their support for a joint African Union
and U.N. peacekeeping force as outlined in a
deal reached with the Sudanese government
this month.

“There is a little light at the end of the dark-
ness,” Kouchner told reporters.

But there was no announcement of which
countries would contribute soldiers, nor was
there any signal that China had softened its
resistance to levying sanctions on Sudan, a mea-
sure that would require Chinese acquiescence to
win approval from the Security Council. China

& TRUCKS»

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

STIR ETIENNE DUPUCH, Kt,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Published Daily Monday to Saturday

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

US should take action on immigration

Little progress on Darfur reported












O.B.E., K.M., K.C.S.G.,









Publisher/Editor 1972-







comprehensive reform, saying any policy “
should have the overarching purpose of pro-
tecting and preserving the safety and interests of
the United States and its citizens while recog-
nizing our nation’s economic needs to have a
stable and legal supply of workers where there
are no willing United States workers otherwise
available. Western farmers and other business-
es need to have a steady supply of seasonal and
year-round workers in order to meet their
demand.”

The June 22 letter is signed by a bipartisan
group of governors: Jon M. Huntsman, Janet
Napolitano, and Arnold Schwarzenegger,
respectively the governors of Utah, Arizona,
and California.

The National Governors Association’s policy
on immigration says: “The federal government
has the dual responsibility to protect our nation-
al borders and maintain the values that make us
a beacon of democracy, human rights, and civ-.
il rights.” In other words, keep the country safe
and decent.

If the bill survives Tuesday's vote, more polit-
ical stamina will be needed. The bill would face
another Senate vote and then move onto a new
battlefield in the House.























(° This country also needs a new look at our
immigration laws to bring it up to date and face
the Haitian situation which has bedevilled us for
years. — Ed)









is a staunch ally of Sudan and major buyer of its
oil.

France did say it would contribute about $13.5
million to help finance the peacekeeping force.
The country has spent about $3.4 million on aid
to Darfur so far this year and about $5.25 million
last year, according to U.N. figures. The Euro-
pean Union promised to spend an extra $42
million for humanitarian relief in the coming
months.

Since early 2003, Arab militias known as the
janjaweed have been raping and killing non-
Arabs in Darfur, ostensibly as part of the
Sudanese government’s effort to suppress a
rebellion there. The Bush administration has
labelled the violence genocide, but the limited
African Union peacekeeping force there has
been unable to curb it.

The African Union and the United Nations
hope to get all factions to sit down for peace
talks in August. China’s special envoy, Liu Gui-
jin, told reporters on Monday that Sudan was
ready to take part in such talks.

But delegates said that with more than a
dozen armed groups operating in the region,
negotiating peace would be difficult.




















(* These articles are from
The NewYork Times — © 2007)





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Blaming cruise
ships easier than
addressing the
real problem

EDITOR, The Tribune.

THE cruise ships are
pulling out of Nassau and we
are surprised! Bay Street
merchants have been telling
successive Governments for
years that downtown Nassau
has degenerated into a dump,
a slum, a shanty town. And
we are surprised?

Cruise ships are, no more,
nor no less, than any other
business and when product
demand disappears, the busi-
ness owner must change his
business strategy or close up
shop. We are collectively
blaming the cruise ships
because that is far easier than
addressing the real problem,
which is the product that we
offer. Bay Street shopping
has been the preeminent des-
tination attraction, for cruise
ships visiting Nassau these
many years and we have col-
lectively allowed this attrac-
tion to degenerate into a

' dump. Efforts have been

made, particularly by the pri-
vate sector, to arrest and
reverse the problem, but, at
the end of the day, there are
key aspects of a revitalisation
that requires Government
action. Successive govern-
ments (PLP and FNM) have
given lip service to these
responsibilities but it has nev-
er been more than that — lip
service.

We have, for better or
worse, determined that our
tourism market would be
drawn frbm what I would call
“Main Street America”. Main
Street America is no longer
the inner cities of America
and this former population
has moved away to the sub-
urbs because they don’t like
and will not tolerate filth,
drug dealers, pan handlers
and the like. Yet we think
that we can offer them exact-
ly such on their hard earned
vacations. Where are our
brains?

Despite much talk and dis-
cussion, the Jitneys, spewing
their diesel exhaust all over
town, are still a part of the
Bay Street scene. As the tran-
sit hub of the island, Bay
Street is invariably inundat-
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force, and school establish-
ment, trying to get home each
day. Main Street America is
not used to this and most of
its citizens are intimidated, if
not disgusted, by hordes of
marauding people. Like it or
not that’s a fact. And, if the
Jitneys’ diesel is not enough,
we have the massive diesel
container trucks lumbering
through downtown all day
every day because we are too
stupid to rearrange the Bay
Street traffic flow. Americans
for the most part today don’t
smoke cigarettes, yet we
expect them to inhale our
uncontrolled diesel emis-
sions? Its not going to hap-
pen!

Where are the police, who
used to be so visible on Bay
Street many years ago.

Nowhere to be found, and
so the drug dealers and pan
handlers just flourish unfet-
tered.

Of course there has been
much talk of our straw mar-
ket, formerly a key Bay Street
attraction, but now a rat
infested ghetto. In Main
Street America this tent-city
would have been closed and
condemned as a health and
safety hazard six months after
its establishment. But we
think that these people will
visit this hell hole nonethe-
less? It’s not going to hap-
pen!

And we, perhaps fortu-
nately, have suddenly discov-
ered that the former charm
of downtown, the old build-
ings, are now derelict or have
been torn down. Yes, these

_ were the things, the history,

that Main’ Street America
used to come to see. Do we
wonder why Harbour Island
is such an attractive and suc-
cessful destination? Quant lit-
tle houses, built in the eigh-
teenth and nineteenth cen-
turies, but still in pristine con-
dition, tell the vivid story of a
bygone day. Did we think of
this when we bulldozed the
Royal Victoria Hotel?

And, as our Bay Street
merchants and their staff,
gasp for their fina! financial
breath of the year, we barri-
cade the town with vulgar
chain link fencing, and block-
ade the interior with metal
bleachers so that our people,
not Main Street American
visitors, can enjoy their cul-
tural heritage of Junkanoo.
Well, you can’t eat Junkanoo,
and it ain’t going to buy youa
single ounce of grits.

We have, unfortunately,
become what Main Street
America is not, and until the
governments of the day

realise this simple fact and |

take the appropriate action
to change the status quo the
cruise ships and their passen-
gers are not going to be visit-
ing li’l Nassau for a long time
to come.

BRUCE.G RAINE
Nassau,
June 20, 2007.

A solution for
the Bahamas
Straw Market

EDITOR, The Tribune.

FOR decades now the straw vendors have been a vocal group
that seemed to get whatever they wanted from the Bahamian
government, but this has changed in recent years.

After the fire of 2001 that destroyed the straw market, a tent
was erected for them with promises of building them a new mar-

ket.

The government changed in 2002 and there was another

five years of promises.

The government has changed again and the contract entered
into in early 2007 was cancelled so the vendors could supposedly
be "given" a market that better suits their needs.

Now the vendors have been told they will be moved from
their rat infested tents to temporary facilities until: this new
market can be built. This has brought out a chorus of naysayers

from the ranks of the vendors.

Of course the years since 2002 have seen protests from var-
ious groups of vendors sympathetic to one political party or the
other saying they are not getting what they deserve.

Well believe it or not there is a permanent solution.

The straw vendors should submit an offer to the govern-
ment to buy the property where the proposed market is to be
built, and erect their own edifice that they will have to maintain
themselves, just like every other business person has to do.

Then they do not need the government to spend taxpayer dol-
lars on a building that most Bahamians are not entitled to use,
even though it is to be built with taxes paid by all Bahamians.

Better still, the government would no longer be able to tell
them where they will ply their wares, solving an obvious prob-
lem for them...not being able to get their way with other people's

money.

Now don't tell me that the vendors can't afford to do it.
Many of them have children that are lawyers and doctors and
they were educated by the money earned by the straw ven-

dors.

It would probably surprise the vendors themselves what
they could accomplish by pooling their resources to build a
market. All it takes is the vendors making the éffort to make it

happen.

Ownership would make each vendor take more pride in
their stalls and surroundings instead of what exists today.

That way, the county's tax dollars can be used to pay down
the debt and more. Maybe the tax burden on Bahamians can

even be reduced?

Frankly, that's the only sensible solution I see.

How about you?
Yours in Liberty,

RICK LOWE
Nassau,
June 24, 2007.

Pe?
tems -

THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 5





Seven face
charge of
marijuana
possession

SEVEN people — includ-
ing two juveniles — were
arraigned in Magistrate's
court yesterday on a drug
possession charge.

The accused, Shuniqua
Evans, 32, and Jammica
Rolle, 20, both of Nassau Vil-
lage, along with Anastacia
Evans, 31, and Ravette Eden
of Pinewood Gardens,
Harvette Roker, 28, of Yel-
low Elder Gardens, and a 14-
year-old girl and 16-year-old
boy were arraigned before
Magistrate Carolita Bethel at
Court Eight Bank Lane yes-
terday.

It is alleged that on Thurs-
day June 21 the accused were
found,in possession of a
quantity of marijuana which
authorities believed they
intended to supply to anoth-
er. The accused are alleged
to have been found in pos-
session of three pounds of
marijuana, which police
reportedly found while
searching a home in
Pinewood Gardens.

The two juveniles pleaded
not guilty to the charge and
were granted bail in the sum
of $7,500 each. The adults,
who also pleaded not guilty,
were remanded until
Wednesday when a bail hear-
ing is scheduled to take place.

Three held
after police

discover
machine gun
FREEPORT - Ginia

Bahama Police are investi-
gating a shooting in the Bruce
Avenue area, where a 23-
year-old man was shot in
broad daylight Monday after-
noon.

According to police
reports, Keno Wallace, a res-
ident of Bass Lane, was dis-
covered around 1pm on the

‘ground at Bruce Avenue with

a gunshot injury to his left
ankle. He was rushed by pri-
vate vehicle to the Rand
Memorial Hospital.

Wallace is detained in hos-
pital. His injury is not life-
threatening.

Chief Superintendent of
Police Basil Rahming said no
motive for the shooting has
been established as yet.

Central Detective Unit
officers have launched an

. investigation into the inci-

dent.

Share
your
news

Call us on 322-1986 and
share your story.



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LOCAL insurance compa-
nies are putting the economy at
risk by not having hurricane
evacuation plans in place, it was
claimed yesterday.

Their failure to prepare prop-
erly for a major storm means
the post-hurricane claims
process would collapse, bringing
business and services to a halt.

This grim forecast came from’

Darren Adler, Nassau chief of
Humanitarian Operations,
which organises large-scale
evacuations in advance of major
hurricanes.

The result of their lack of an
evacuation strategy meant they
would be unable to deliver the
services which are expected and
paid for via premiums by their
clients, he said.

Mr Adler said insurance firms

LOCAL NEWS

- Insurance firms are accused of
negligence by hurricane planner

Companies should have evacuation plans
to facilitate claims, says agency chief



covering business and domes-
tic premises in Nassau needed
to have a plan in place to ensure
staff and data could be evacu-
ated in advance of a storm.

This would enable them to
respond from outside the coun-
try to policy holders’ claims and
ensure a quick economic recov-
ery.

“Rlsewhere in the world,
insurance companies would be
required to evacuate both per-
sonnel and data,” he told The
Tribune.

“They set up office in a hotel or

‘somewhere and operate comput-.

ers there to run a claims service
and process claims,” he added.

Once the storm had passed,
the firms would redeploy staff
back into the Bahamas with
satellite phones to begin the
claims process. “In the US this
is commonplace,” he said.

Mr Adler’s concerns about
Nassau’s insurance companies
came during his outline of a
doomsday scenario if a Catego-
ry Five hit on the capital.

He said an 18-foot sea surge
from a top-ranking storm would
swamp the island. Everyone
within 20 to 25 feet of sea level
would be at risk; he claimed.

He said most major insurance
companies in Nassau had no
plans to evacuate staff in a Cat-
egory Four or Five emergency.

This meant they would them-
selves become victims of the
storm and be in no position to
help clients restructure homes

_and businesses in the immediate

aftermath.



i

“This lack of a claims process
will do more damage to the
economy than the hurricane
itself,” he said.

“Ttis a head-in-the-sand atti-
tude which means that people
who need food and water after
a major storm will be in no post-

tion to earn the money to buy |

them.

“If people can’t work and
there is no food available - and
foodstores can’t be rebuilt -
because of the lack of a claims
process, the economy will not
start. This attitude has got to
change — it is gross negligence
on behalf of their clients.”

Robin Hardy, co-ordinator
for the Bahamas General Insur-
ance Association, chose to

reserve comment on behalf of

the association for the moment.

18 Cubans found on
speedboat by US
Coast Guard cutter

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Eighteen
Cubans were apprehended on
Sunday on board a speedboat
off the south-west Bahamas.

The capture was the result of
a joint operation between the
Royal Bahamas Defence Force
and the United States Coast
Guard.

A press release said Bahami-
an Defence Force officers and
Coast Guard officials onboard a
US Coast Guard cutter, Torna-
do, apprehended the Cubans
off Elbow Cay.

After the cutter spotted a 26-
foot speedboat in the area, a
chase ensued, and the speed-
boat ran aground off Elbow
Cay.

During a search of the ves-
sel, officials discovered the
Cubans. Both vessel and crew
were taken to Grand Bahama,
where they were turned over to
the immigration officials for fur-

ther processing.

This is the second time with-
in the past three weeks that a
member of the RBDF assigned
to a US Coast Guard cutter has
been successful in apprehend-
ing Cubans within Bahamian
waters.

The operation is in accor-
dance with the Ship Riders’
Agreement between the gov-
ernments of the Bahamas and
the United States which allows
Coast Guard vessels to patrol
Bahamian territorial waters
with elements of the Defence
Force on board.

On June 5, three Cuban
Americans suspected of illegal
smuggling were arrested near
Elbow Cay by the US Coast
Guard Cutter Bonito. They
were taken to New Providence
and turned over to immigration
officials.

Leading Seaman John Delan-
cy had been assigned tor Sea
Rider duties in both these inci-
dents.

Woman still seeking
end to brutality claim

A woman who claims that she
was brutally assaulted by a
police officer nearly two years
ago says that she is still seeking
resolution to the matter.

Mrs Odell Newton, 35, of
Rupert Dean Lane, says that
she wants the officer who
assaulted her in August, 2005,
to face disciplinary action and
pay for her medical as well
attorney fees.

A doctor's report, issued by
The Public Hospital Authority,
indicated that Mrs Newton
received a soft tissue injury to
the left side of her face. More-
over, the report indicated that
she was seen eight days later by

a physician, because she was ©

complaining of numbness on

. the left side of her face, as a

result of the injury.
As highlighted in an earlier

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interview with the Tribune, Mrs
Newton claimed that in August,
2005, the officer brutally
slapped her on the left side of
her face while at a police sta-
tion.

She was subsequently
charged with obstruction, but
that charge was later dropped,
according to a court document.
Mrs Newton claims that she
made a complaint against the
officer to the police complaints
and corruption’s branch of the
Royal Bahamas Police Force
shortly after the incident and
produced a letter from the
branch which acknowledged
that her complaint was being
investigated.

Mrs Newton claims, howev-
er, that since then she has not
received a favourable response
in regard to the matter.





WU Changsheng (far left), Ambassador of the People’s Republic of China to the Bahamas,



paid a courtesy call on Governor General Arthur Hanna at Government House yesterday. Mr
Hanna is shown presenting a gift to Ya Fei He (right), assistant minister of foreign affairs, —

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E TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 7

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PAGE 8, TUESDAY, JUNE 26, 2007

THE TRIBUNE



a a TASS ee as
Foulkes lays out plans for the

revitalisation of GB economy

@ By Bahamas Information
Services

FREEPORT — Labour and
Maritime Affairs Minister Dion
Foulkes on the weekend told
Grand Bahamians that his gov-
ernment understands the sig-
nificant role that their island
plays in the social and econom-
ic life of the Bahamas and that
his ministry is prepared to give
it the attention it deserves.

Speaking at a press confer-
ence at the Office of the Prime
Minister in Freeport on Satur-
day, Mr Foulkes said his goy-
ernment will be expanding the
Labour Office and the Port
Department and that the Board
of the Bahamas Maritime
Authority is exploring the pos-
sibility of establishing a pres-
ence in Grand Bahama.

“The FNM Government will
bring together domestic and
international stakeholders to
create a master plan to capi-
talise on our marine resources,
strong legal and political insti-

tutions and business friendly
environment.

“As we did in tourism and
financial services, we will call
on the advice and resources of
international partners. But we
must create or own Bahamian
vision,” he stated.

According to Mr Foulkes, this
will include placing Bahamians
in more positions of authority in
various areas of the maritime
services industry.

“One example is the inclu-
sion and empowerment of tal-
ented Bahamians in the
Bahamas Maritime Authority,
which falls within my portfolio.

“We must ensure that our
vision creates a diversity of busi-
ness, educational and employ-
ment opportunities for Bahami-
ans at every level of society. We
must achieve these goals in a
manner that is environmentally
sustainable,” he said.

Mr Foulkes also said that his
government will devise and
review legislation that will
expand the maritime services





@ LABOUR and Maritime Affairs Minister Dion Foulkes dur-
ing a press conference at the Prime Minister's office in Freeport
Jast Saturday. Pictured left to right are Senator Foulkes; Senator
Kay Smith, parliamentary secretary in the Office of the Prime
Minister; and Harcourt Brown, Director of Labour.

offered by the Bahamas.

“We are especially keen to
promote linkages between the
tourism, financial and maritime
services sectors.

“The need for trained

(Photo: BIS/Vandyke Hepburn)

Bahamian labour to work at the
port, the ship repair facilities
and in other areas of maritime
services is a priority for the
FNM. I will collaborate on this
with the Minister of Education

and the corporate sector,” he
said.

Mr Foulkes was in Grand
Bahama on Saturday holding
meetings with a number of lead-

ing companies and unions,

including the Ginn Corporation,
Our Lucaya, the Grand
Bahama Chamber of Com-
merce, the Freeport Container
Port, Grand Bahama Shipyard
and the Grand Bahama Power
Company.

During the meetings, Mr
Foulkes discussed his govern-
ment’s policy and initiatives as
well as addressing the concerns
of employees and employers.

The minister said he plans to
consult with unions and
employers in Grand Bahama on
a regular basis to continue the
dialogue.

Accompanying Minister
Foulkes to Grand Bahama for
the meetings were Director of
Labour Harcourt Brown,
deputy director Josephine Ben-
nons and their legal counsel
Cherita Symonette.

National drug council |
announces its new
three-year slogan

THE Bahamas National
Drug Council is celebrating 22
years in existence with its new
three year slogan “Do Drugs

Control Your Life? Your life.

Your community. No place for
drugs”

The organisation is dedicated
to eliminating the scourge of
drug use, abuse and illicit traf-
ficking in the the Bahamas,

The council joins the United
Nations and other National

Drug Councils in the region in

recognising the International

Day Against Drug Abuse and

Trafficking on June 26, 2007,
This day commemorates and

recognises all those individuals

a en

007 CreativeRelations.net

who have fallen to the tyranny
of this epidemic.

A statement from the
Bahamas National Drug said:
“Drugs destroy our communi-
ties and everything positive

‘about a country. We as a people

need to ensure that our future
leaders and nation builders do
not fall prey to this vicious ani-
mal of drugs.”

The council’s programme is
geared towards raising aware-
ness about drug use and abuse
in our society, as well as illicit
drug trafficking. The goal of this
campaign is to inspire and

mobilise support fer drug con-
trol’ nig

sine i
as BiSppan STEER VE



@ TOURISM and Aviation Minister Neko Grant met with Grand Bahama Chamber of Com-
merce president Christopher Lowe on Friday. Pictured left are Kevin Seymour, first
vice-president GB Chamber of Commerce; Sammy Gardiner, Tourism and Aviation; David
Johnson, Tourism; Mercynth Ferguson, GB Chamber of Commerce; Archie Nairn, permanent
secretary, Tourism and Aviation; Mr Grant; Mr Lowe; Jeritzan Outten, Tourism and Aviation;

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Kerry Fountain, Tourism and Aviation; and Terrance Roberts, Tourism and Aviation.
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' Castro: Bush
‘authorised
and ordered’
ny death

@ HAVANA

FIDEL Castro on Monday
accused President Bush of
“authorising and ordering”
an attempt on his life,
although his essay on the sub-
ject provided no details,
according to Associated Press.

American law now prohibits
the US government from
ordering the assassination of
foreign leaders, but declassi-
fied US documents. have
shown that the CIA made
numerous attempts to kill Cas-
tro in the early years after the
1959 Cuban revolution.

Castro’s essay noted that US
President Gerald Ford signed
an order banning official assas-
sinations, and said he didn’t
believe that Presidents Jimmy
Carter and Bill Clinton ever
tried to have him killed.

But Castro alleged that
Bush has other ideas.

Now 80, Castro hasn’t been
seen in public in the 11
months since he underwent
emergency intestinal surgery.
Cuba’s provisional govern-
ment is being led by his
younger brother Raul while
he recovers. Meanwhile, he’s
become a prolific essay writer.
In one, on May 29, Castro
accused Bush of renewing US
attempts to assassinate him.

“T’m not the first, nor will I
be the last, whom Bush has
ordered to be deprived of
life,” Castro wrote then.

His latest essay referred to
that May 29 allegation.

“Why did I say one day ina
reflection that Bush autho-
rised or ordered my death?
This phrase can seem ambigu-
ous-and imprecise,” Castro
wrote. “Perhaps it would be
more exact, although even
more confusing, to say that he
authorised it and ordered it.”

Castro promised to explain
himself, but never did, writing
only that “really it is a mys-
tery to name those responsi-
ble for the hundreds of

i attempts on my life, all the

direct and indirect forms to

_,cause my death were used."

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THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 9



“Christie: PM
has to continue

PLP work left
in place for
Bay Street
FROM page one

had taken more than four

years in planning, was a
,“fatal mistake.”

“The sad thing about it is,

this government, upon com-

ing to power, made almost a

‘fatal mistake in coming to

power and looking back

-instead of looking forward.

And fatal because it has mis-
led them without thinking,

,dismissing four years of

work and planning that was
sort of integrally related to
the overall master plan of
transforming the city of Nas-
sau and giving everybody a
breath of life. And the peo-

. ple here, who own those

shops, will not let him go.
‘He has no choice. Let me

’ just say it now, no choice.
. For him, he cannot discon-
‘tinue the work we were

doing. He cannot. I don’t
care how he tries to delay it,
how he tries to change it, he

» has to continue the work we

were doing. The work is too

'. important. It is the lifeline

to the future of this island,”
Mr Christie said.

-The former prime minis-
ter said that more and more
tourists will not be happy in

- coming to Nassau unless the

improvements outlined in
the revitalization of Bay
Street — which included the
relocation of the container
port — are accomplished.
To this, he said, the PLP had
an extraordinary approach
to bring about such a change
that Nassau would be the
greatest destination in the
Western Hemisphere.

Dialysis

campaign
FROM page one

by’s International Realty.

Speaking on behalf of Family
Guardian & Bahama Health,
Linda Jarrett, vice president of
the company said that Family
Guardian was “happy to support
this very worthy health initiative.
Our company, through Bahama-
Health, is well-acquainted with
the needs of patients with kid-
ney disease. With this donation
earmarked for the purchase of a
dialysis machine, we are happy
to be a part of this important
effort to bring assistance to
-Bahamians facing serious health
issues."

Nick Damianos was also
pleased to assist the campaign
with a donation of $5,000 on
behalf of Damianos Sotheby’s
International Realty.

FROM page one

port overnight, allowing passengers more
opportunity to explore the downtown
area,-and thus spend their valued dollars
in shops and restaurants on Bay Street.
According to earlier published reports,
“stopover visitor arrivals fell by 5 per
cent”, or to 389,597 visitors between Jan-
uary and March this year as compared to

Tourist arrivals

the country in 2006 failed to reach pro-
jected expectations which has many wor-
ried about tourism figures for 2007.

Mr Frank Comito, Executive Vice
President of the Bahamas Hotel Associ-
ation, has “no predictions” on visitor
arrival numbers for the remainder of
2007, but states his association is “moni-

number of visitors should increase during
the summer months, hopefully exceeding
previous expectations, in’ the hope that
the “summer season will [gain] momen-
tum from the US Labour Day,” ‘and
beyond. Mr Comito also said that the
passport restrictions on North American
travellers is one of many reasons for a
decline in visitors to the country. How-
ever, the Caribbean region as a whole is
experiencing a sharp downturn in visi-

[tourism] industry as a regional market,
now we are seeing a global tourism
game,” Mr. Comito added. This supports
the theory that many travellers are seek-
ing vacations in Europe instead of the
Caribbean.

When asked what measures the
Bahamas Hotel Association has in place
to counteract dwindling tourism num-
bers, Mr Comito said that customer ser-
vice training was the Association’s main

last year’s figure of 409,077. Arrivals to

FROM page one

that Robins had died as a result
of blunt force trauma to the
head.

Yesterday lawyer Elliot
Lockhart, who appeared on
behalf of Farrington's new court
appointed lawyer, Wayne
Munroe, applied for an adjourn-
ment. He told the court that
Munroe had indicated that he
was not yet prepared to proceed
with the appeal. The prosecu-
tion made no objection to the
adjournment and Thursday, Sep-
tember 20, has been set as the
new date for the hearing.

Lawyer Romona Farquhar-
son, who represented Farring-
ton at his Supreme Court trial
but was removed from his Court
of Appeal case three months
ago, received strong words from
Court of Appeal President
Dame Joan Sawyer again yes-
terday. Ms Farquharson, who
appeared with Mr Lockhart, left

toring the situation.”

Adjourned

the court room after Justice :
Sawyer asked why she was there :
having already been removed :
Justice Sawyer }
noted that Ms Farquharson had :
been instructed to turn the case :
files over to Mr Munroe, which :
Mr Munroe had not received :
until late last week. Justice :
Sawyer said that Ms Farquhar- :
son had been removed from the :
case because she was not acting }
in the best interest of her client. ;

However, Ms Farquharson :
told the 7ribune yesterday that }
she did not understand the ratio- }
nale for having to excuse herself:
from the courtroom. "I just don't :
"Why }
can't junior counsel sit and assist:
senior counsel? If the court is of }
the opinion that I didn't follow :
the correct procedure then why :
not let me sit and learn the prop- :

from the case.

think it’s fair," she said.

er procedure?" she asked.

AG slams the PLP

FROM page one

condemn this statement as it influences society’s ideas of the
impartiality of the judiciary in a negative way.

The independence of the judiciary is also protected by the
fact that the judges’ salary and pension is set by the recommen-
dation of an independent commission. It is only in rare cases that
this recommendation is ever to be rejected by parliament. The
FNM added this section to the law in 2000. This review of judges’
salaries and pensions failed to happen twice under the PLP gov-

ernment.

Other changes projected to happen in the judiciary is the addi-
tional appointment of criminal and commercial law judges, and
reviewing the terms and services of judicial offices to make cer-
tain that conditions of service are sufficiently rewarded. This
addresses the concern that if higher judicial officials are not
appropriately rewarded, the Bahamas will fail to attract highly

qualified officials.





He added that the

S Sy
x

tors.

FROM page one

the complaint."
He stated that unless in

“a matter of argument."

On Sunday, Mr Ingraham said: "We are just pleased though,
that the things about which (the PLP) complain are things that
the government did, and so the burden of paying legal bills will
rest with those who had the responsibility, not us."

The PLP is contesting three seats, Blue Hills, Marco City and
Pinewood. Documents were filed over a week ago to initiate
the legal proceedings, although a date has not yet been set for

the court hearings.

It has been estimated that each seat éonitested could cost the
losing party more than $100,000 in legal fees. In 2003, having
lost the MICAL seat to the PLP in the election court, the
FNM had to pay $230,000 to the PLP.

FROM page one.

that because the harbour's turning
basin was too small for their larg-
er "Freedom Fleet" vessels — due
to enter service this year — the
destination would be dropped

from their itineraries.

Mr Foulkes said that no action
was taken in response to this
information, received in two let-
ters from Royal Caribbean Cruise
Line in 2004 and 2005.

In the letters, the line outlined
the fact that the dredging of Nas-
sau harbour was
they were to continue their ser-
vice to this country.

The Cunard Line, the company
which owns the Queen Mary 2

“Before we talked about the

Lawyer

costs). The court has to examine the whole issue that involves

"exceptional circumstances" it
would be the party which loses the case in election court that
is required to pay legal costs, however he did not elaborate on
what such circumstances might be, stating only that it would be

"imperative" if

focus.

Man in court
FROM page one

Lightbourne, 29, of Sunlight Village,’

reportedly died as a result of gunshot

wounds to his head. The shooting

occurred in the area of East Street.
Lightbourne was reportedly found

lying between a house and a fence, some

200 feet from the Church of God of
Prophecy, East Street. Court dockets fur-
ther state that, on that same day, Cun-
ningham also attempted to cause the
death of Quincy Glinton Cartwright.
Cunningham, who was not represented
by counsel yesterday, was instructed by

Magistrate Gomez that he was not

PLP govt

ship — the largest passenger liner
ever built — even offered to
dredge the harbour at their own
expense to accommodate that
boat, said Mr Foulkes, however
this never happened, meaning that
this ship also will be unable to call
into Nassau.

Describing tourism as the
"lifeblood of the Bahamian econ-
omy", Mr Foulkes said that com-
munication from the Royal
Caribbean indicated that as the
government had neglected the
issue, the line had been forced to
move to European, South Amer-
ican and Alaskan destinations.

required to plead to the charges.

The matter was adjourned to July 23
and transferred to Court Nine, Nassau
Street.

They have now booked all their
cruise stops until 2009, according
to information the minister has
received, meaning that even if the
harbour's turning basin were
dredged these ships could not
return to Nassau until this time.

The pull out of this line from
Nassau represents a 5.7 per cent
drop in the Bahamas' total annu-
al cruise visitor figures, repre-
senting some 166,756 tourists and
an estimated $9.338 million in vis-
itor dollars.

The former Minister of Trans-
port and Aviation Glenys Han-
na-Martin spoke out yesterday in
response to remarks from Minis-
ter of Tourism Neko Grant on the
subject — see page three.

Buy any two (2 items at regular price |

and get the 3rd nom FYE!

Buy any one (1) item at regular price
and get the 2nd one at 1/2 price

Sate includes shoes, clothing,

DICKIES and household linen

Also availabie are: SIM Cards, Cybercell Cards,

Hello & indigo Cards at wholesale prices

“As a company,” he said, “we
felt it was important to assist
those persons who currently rely
on dialysis treatment at PMH."

Additional donors will be pub-
lished in tomorrow’s Tribune.

®@ DAMIANOS DONATES — Nick Damianos (right) of Dami-
anos Sotheby’s presents a cheque for $5000 to Mark Roberts, Tile
King & FYP Ltd., whose idea it was to launch the fund to raise
funds to purchase eight dialysis machines for the Princess Margaret
Hospital. The goal was to raise $164,000 to purchase the machines.
This week the campaign surpassed its goal.

PHONES:
323-4153
322-3528
324-6413

PREC CSC Cie ea tget
East Street South Sit Charles Hotel
Prince Charles Drive Careys Shanping Centre

Y CARES

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ae

aa eae

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oanse “n't

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2

%

ioe Opportunity |

Lift Operator / Driver



Do you enj Oy working with a team geared to 100% customer seas

Requirements:



merchandise
We are saline an excellent, competent

Driver to handle transportation of
merchandise in a fast-paced, team
oriented warehouse.

Plus Group of Companies is an
astiblished: Bahamian owned group that
is growing & continuing to build it’s
team of professionals in various areas.

abilities

We offer a competitive salary & benefits
package as well as ongoing professional
training & development.

¢ Three (3) years experience in Lift driving and delivery of

¢ An excellent work ethic with a willingness to get the job done
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¢ A high school graduate with exceptional reading, writing & math

¢ Computer literate

* An enthusiastic team player able to work well with customers &
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or eMail:

Furniture e Appliances « ° Electronics

or Mail to:

Limited

Please fill out and submit an application online at

www.furnitureplus.com
jobs@theplusgrp.com

Director of Human Resources
The Plus Group
P.O. Box N713, Nassau, Bahamas

We thank all applicants, however only those selected

for an interview will be contacted.
PAGE 10, TUESDAY, JUNE 26, 2007



TUESDAY EVENING
7:30 8:00

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WPBT lof the 20th Cen- |examines South American mum-
tury mies. (N) © (CC) (DVS)

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tained a chemical weapon. 1

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patron falls. gets down to Earth. 1 (CC)



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30 Most Outrageous Celebrity Feuds Notorious Hollywood feuds.






JUNE 26, 2007

| 9:00 | 9:30 | 10:00 | 10:30

NETWORK CHANNELS

The Life of Birds by David Atten- /Frontline/World A former rebel tries
borough Panne the aeronautics |to make peace with the past;
behind the flight of birds. 0 whales; land mines. (N)








The Unit ‘The Water Is Wide” The |48 Hours Mystery © (CC)

deadly elevator crash occurs.

Access Hote America’s Got Talent ‘New York Audition” Hopeful stars audition for the !Law & Order: Special Victims Unit

“Dependent” A mob lawyer and his
wife are attacked. (CC)

House ‘Finding Judas” House takes |News (N) (CC)
the divorced parents of a young pa-
tient to court. 1 (CC)

Shaq’s Big Challenge (Series Pre- |Primetime fay Secrets” A
young mother is charged with the
death of her husband. (N) (CC)

CABLE CHANNELS

-00) CSI: Miami [Dog the Bounty |Dog the Bounty /Dog the Bounty |Dog the Bounty Criss Angel Criss Angel
A&E eae 1 (CC) |Hunter Tiny Hunter Little {Hunter Hawaiian |Hunter Fugitives Mindteak Ani- Mindireak Bed of
bounty hunter. knowledge. (CC) |surfer. surrender. iN) malillusions. {broken glass.
Hardtalk BBC News World Business |BBC News KillorCure — |BBC News World Business
(Latenight). Report (Latenight). “Avian Flu” (Latenight). Report

106 & Park: Car-|BET Awards '07 Recognizing excellence in music, sports and acting. From Los Angeles. (Live) (CC)
pet

CBC News: The National (N) (CC)



Deal or No Deal Contestants get a |The Big Idea With Donny Deutsch
chance to win money. icc}

Larry King Live (CC) Anderson Cooper 360 (CC)
Mind of Mencia |South Park Ms. |Gary Gulman: Boyish Man The
“Desperate Gar- {Crabtree helps in jcomic performs. (CC)

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Cops Hostage in-Cops “Coast to |Cops © (CC) Forensic Files [Forensic Files |Murder by the Book ‘Lisa Scotto-
COURT [citer (Cc) [Coast 7 (C0) eee ine

The Suite Life of| ZENON: GIRL OF THE 21ST CENTURY (1999, Science Fiction) Kirsten |That’s So Raven |Life With Derek
DISN Zack & Cody A |Storms, Raven-Symone, Gregory Smith. A girl raised on a space station Raven mocks — |Derek et
rey.

Marti. 0 (CC)

DIY This Old House |Home Again |Sweat Equity Bathroom Reno-|Bathroom Reno-|10 Things You |Trade School
1 (CC) (CC) vations vations Must Know
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Journal: Tages- |Politik direkt Journal: In Euromaxx
thema Dept

The Simple Life |The Simple Life
Goes to Camp |Goes to Camp

U.S. Poker Cham ionship From Baseball Tonight (Live)
Atlantic City, N.J. ape (CC)

Beach Soccer (Taped) Beach Soccer (Taped)
Religious Cata- |The Holy Rosary| Threshold of Hope
logue

Namaste Yoga |Namaste 1088 National Body Challenge 2 “Keep-
Confidence. Flexibility. (CC) jing It Of? Success stories.

Hannity & Colmes (Live) (CC) {On the Record With Greta Van
Susteren (Live) (CC)

Inside the Mar- |The FSN Final
lins Score (Live)
British Open Highlights Tiger
Woods wins.

Twenty One 1 (CC) Chain Reaction |Chain Reaction
(CC) (CC)
N)

Cops ‘Indianapo-]Cops “Indianapo-|G4's Free Stuff [Ninja Warrior
lis’ (CC) fli” (CC)

HARD GROUND (2003, Western) Burt Bea, Bruce Dern, Seth Pe-
terson. A lawman springs a bounty hunter {rom jail to hunt killers. (CC)








s. From Dolphin Stadium in Miami.



Tiger's Prowl



Green Force ‘Hill| Design Inc. Re-











Still Standing /Reba Reba runs |Reba Van tries
LIFE Brian outworks Jina5K race out for arena
Bil. © (CC) against Brock. football. (CC)

:00) Hardball {Countdown With Keith Olber-
MSNBC {eel mann (Live)

NICK ain Neato brated Josh
NTV NCIS “Sharif Returns” 0 (CC)
oe
TBN Jordan Rubin oot Bes ae
day Life (CC)

Everybody Everybody Everybody
TBS Loves Raymond [ois Raymond |Loves Raymond
“Be Nice” Ie) “You Bet” (CC) |Asilly fight. 0

:00) Overhaulin’| American Chopper “Mikey/Vinnie
TLC fick (CC) Bike 2” Mikey eis cot hee, (CC)

(:00) Law & Or- |Law & Order ‘License to Kill” Mc-
TNT der Nowhere — {Coy and Borgia target the unlikely
hero in a deadly car chase.

Man’
- |Pokemon: Dia: |Ed, Edd n Eddy |Camp Lazlo
| TOON [mond and Pear P

TV5 On n'est pas couché

Storm Stories |Abrams & Bettes
TWC {cc
:00) Duelo de |Yo Amo a Juan Querendon (N

USA







parent suicide of a woman.
VS ~ lYachting: Ameri-|World Combat League Playoffs,
. ca’s Cup WCL Playoffs from Austin, Texas.

Everybody Gilmore Girls ‘The Great Stink’
WPIX _|Loves Raymond |Lorelai and Christopher attend Fri-
day night dinner together. (CC)

0 (CC)
Jeopardy! (N) |Dr. Phil Young women emulate cel-
WSBK (cc) ebrity life nv (cc)



6:00) *x% |REAL Sports With Bryant Gumbel

HBO-E Cae ALL =| N (CC)
(2006) ‘PG-13

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UCKER
PROXY (1994)

:00) xx * MY HOUSE IN UM- — |(:45) License to
HBO-W GAIA 2003, Drama} Maggie Smith, Wek HBO First
Chris Cooper. 1 (CC) Look 4 (CC)

John From Cincinnati ‘His Visit:
Day Two Continued” Kai takes John
to her trailer. M (CC)



HBO-P



15) + % FEVER PITCH (2005, Romance-Comedy)
HBO-S fe) Barrymore. A woman falls in love with a die-hard
baseball fan. 'PG-13' (CC)

MAX-E








(:00) %*% THE HAUNTING (1999, Horror) Liam Nee-
MOMA |son, Catherine Zeta-Jones. ee people stay in a re-
putedly haunted house. 1 ‘PG-13' (CC)

ot % & x MISSION: IMPOSSIBLE Ill (2006, Ac-
tion) Tom Cruise. iTV. Agent Ethan Hunt faces the
toughest villain of his career. ( ‘PG-13' (CC)

* * BLOWN AWAY (1994, Suspense) Jeff Bridges, To
ec} Amad Irish bomber plots revenge on his



aw

















Sarah’s House |Take It Outside |Urban Outsiders |Designer Guys
HGTV House Hospice”. |design. (CC) |Renovations are | 1 (CC) Creating a hide- |Bedroom. 1
(CC) ~ ©” Icomplete. (N) away. (CC) (CC)

Morris Cerullo Breakthrough’ Christ in Inspiration To- |Life Today (CC) |This Is Your Day |The Gospel
INSP sp " (cyrus »}Prophecy day es (CC) Truth

(:00) Reba Kyra [My Wifeand According to [According to Friends Blackout Everybody Everybody
KTLA decides to move Kids “Gradua- {Jim Chen tries |Jim “Renewing {brings the friends Loves Raymond |Loves Raymond
in with Brock. —_ tion” (CC) to surprise Jim. |Vows’ 1 (ca together. A (CC) 1 (CC)

ABDUCTED (2007, Drama) Sarah Wynter, Andrew Walker. A prison war-
den’s wife-learns about her kidnapper’s motives. (CC)

Scarborough Country (Live) MSNBC Investigates Pelican Bay
State Prison.

Funniest Home |Full House ( |Roseanne‘In- /Roseanne ‘Little

Videos (CC) herit the Wind” Sister” (CC)

House ‘Finding Judas” M (CC) tcc (N) |News

Motorcycle Racing AMA Motocross|Motorcycle Racing AMA Motocross
Lites -- Southwick. Lites -- Budds Creek.

John Hagee To- |Bill Gaither (CC) /Praise the Lord (CC)

day (CC)

Sex and the City/Sex and the City|Friends Ross is [Friends Rachel's
Carrie dates a “Was It Good for Jattracted to his former sorority
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tackles spousal confidentiality in gay|An old man is last seen getting into
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Weather: Evening Edition (CC)

Destilando Amor Ver Para Creer



Law & Order: Special Victims Unit] x x x THE BOURNE IDENTITY att Suspense) Matt Damon, Franka Potente, Chris
“Privilege” Detectives probe the ap- |Cooper. An amnesiac agent is marked for death after a botched hit. (CC)

4 BLOODSPORT (1988) Jean-Claude Van Damme, Donald Gibb. A
Westerner wins a martial arts competition in Hong Kong.

VH1 (:00) MTV Un- [HOTrageous Celeb Couples 1/40 Greatest Reality Show Moments Memorable occurrences on reality
plugged 1 : television and the stories behind them. ©

(0) America’s |MLB Baseball Colorado Rockies at Chicago Cubs. From Wrigley Field in Chicago. (Live) © (CC)
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News (N) Jeopardy! (CC): /Frasier Frasier |Frasier Niles
dates his dream |tries to show his
gir, (CC) — |wildside.





PREMIUM CHANNELS

+ & THE SENTINEL Om Suspense) Michael Douglas, Kiefer Suther-
land, Kim Basinger. A Secret Service agent becomes a murder suspect.
1 'PG-13' icc}

Big Love ‘Damage Control” Bill
scrambles in the wake of the fami- Bill must rethink his advertising
ly's exposure. 1 (CC) strategy. O (CC)

+ FIREWALL (2006, Sree ee Harrison Ford, Paul Be Virginia
Madsen. A bank security expert battles a criminal. 0 ‘PG-13' (CC)

Big Love ‘The Writing on the Wall’



% & PHAT GIRLZ (2006, Comedy) Mo'Nique, Jimmy (i) Evan
ae Godfrey. Two large women look for love.
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First Look (CC)

ey x; | HOME ALONE 2: LOST IN NEW YORK (1992, Comedy) % &% LAND OF THE DEAD (2005)
XCALIBUR — Macaulay Culkin, Joe Pesci, Daniel Stern. Kevin ends up in New York —_| Simon Baker. Flesh-eating zombies
(1981) ‘PG’ (CC) |when he boards the wrong plane. ™ ‘PG’ (CC)
); X-MEN: THE LAST STAND (2006, Action) Hugh| THE BEST SEX

threaten a fortified city.

Jackman, Patrick Stewart. A cure for mutations divides |EVER 3: NICE
the X-Men. 'PG-13' (CC) AND EASY (CC)

Meadowlands (TV) Cross-dressing,| * » SHADOWBOXER (2005, Sus-
(CC) pense) Helen Mirren, Cuba Gooding

ut. iTV. 'R’ (CC)

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former pupil. © {Linda Fiorentino, Michael Madsen. Narcotics agent in-
filtrates biker gang. 1 ‘R’ (CC)

Imighty: HBO |



|
|
|



THE TRIBUNE

Let Charlie the
Bahamian Puppet and
his sidekick Derek put .

some smiles on your
kids’s faces.

Bring your children to the
McHappy tlour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of June 2007,

Enjoy Great Food, Prizes and Lots of Fun

i'm lovin’ it

Movie Gift Certificates
make great gifts!



ae@eoenee's

nae

B+ ee ee

|... Ss
25 & & wan

=

DR e ee.
THE TRIBUNE TUESDAY, yuive 20, 2007, PAGE 11

te

PRP EIS 29 > eee Ow a CREE EE ASEN BS Se Cae BT SESE C0 | OIG EINE Ce PNR iS OLIN Mr iy TO LIE PRON BEART See a aT errata oa

Anniversary

j

aaa









Baie eeeien
<

A part of your life and The Bahamas since 1927

June 26th - July 2nd, 2007

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PAGE 12, TUESDAY, JUNE 26, 2007



YOUR CONNECTION. TO THE WORLD

THE TRIBUNE

JUNE 26, 2007



The Bahamas Telecommunications Company Limited



BTC CEO Addresses the 11th Annual

CEO Network Conference

The. Centre for Excellence &
Opportunity (CEO Network) held its
Eleventh Annual Conference at. the
British Colonial Hilton, under the
theme “Raising the Standard
Through Innovation”. During the
three day conference, international
and local speakers from various
industries gave informative
presentations on Wealth Creation,
Innovations Through Tele-
communication, How to Increase
Ownership with Limited Resources,
Investment/Pension Plan and many
more.

During the second day of the
conference, Mr. Leon Williams,
President & CEO of the Bahamas
Telecommunications Company Ltd
(BTC), gave . an informative
presentation on the recent and forth
coming changes at BTC, which will
affect more than : just
telecommunication but the way in
many organizations conduct their
daily operations. Based on recent
statistics, the Bahamas with a
meager population of Three
Hundred and Five Thousand people;
is ranked One Hundred and Twenty-
Seventh in the world's population

but has a strong ranking for
landlines service. It is estimated that
Forty-Two out of every One
Hundred persons in the Bahamas has
a landline telephone. Additionally,
BTC is ranked number one in the
Caribbean, number three in the
America's (entire western hem-
isphere) and thirty seventh in the
world for telecommunication
services.

Mr. Williams gave even more
staggering statistics, as there are
more than One Hundred and Fifty
Thousand GSM customers within
the Bahamas. During peek hours it
is estimated that Fifty Eight calls are
made per second using the GSM
platform, and One Hundred and
Twenty text messages are sent per
minute also, during this period. Mr.
Williams gave an eye opening
example, of how BTC is positively
affecting the way business is
conducting in’ globalization 3.0.
BTC has given Bahamas Water and
Sewage Corporation the use of SIM
Cards, in turn Water and Sewage
uses these SIM Cards to check the
water level in the water tower. In the

past an employee would have had to

be lower into the tower to get a
reading. With the continuous
innovation in technology, this is no
longer needed. Mr. Williams
reiterated that this improvement in
technology can also lead to a
decrease in physical labour careers
and warns that organizations should
work hand in hand with employees
to insure that there is a balance and
that employees are trained in every
aspect of their department and the
organization as a whole.

Presently, BTC offers a wide
range of services to the public
locally and internationally such as:
GSM, BlackBerry. and CDMA
Roaming, this allows cellular
customers to send and receive calls
in more than Fifty Three countries
around the world. VIBE (Voice
Internet Bahamas Electronic), BTC's
service that allows domestic and
international long distance calls via
the internet at one flat rate. GRPS,
EDGE and EVDO affords users the
convenience of internet access no
mater the location, whether home or
abroad.

BTC Your Connection To The World








































4
The Tribune

TUESDAY, JUNE 26, 2007

B BUSIN



Diba

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

ESS



FREEPORT OFFICE
Tel: (242) 351-3010



business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street





Bahamas urged to target
Middle Eastern investors

* Businessman urges aggressive marketing to attract high-net worth individuals from increasingly
unstable region, as ‘petrodollars’ can boost Bahamian businesses and wider economy
* Says nation cannot just rely on United States, Canada and traditional markets.

B@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas must

target wealthy

investors from the

Middle East to

relocate to this

nation and invest in its busi-

nesses and economy, a Bahami-

an-based business executive has

urged, with that region’s ever-

increasing instability likely to

prompt a search for capital and
investment ‘safe havens’.

Tony Joudi, president of con-

struction, development and pro-

ject management firm, FTC,

said high net worth families and
investors from countries flush
with surplus ‘petrodollar’ assets,
such as Saudi Arabia, Kuwait
and the United Arab Emirates,
were currently seeking stable
countries where they could
invest and base themselves.

He added that the Kuwaiti
Ambassador’s visit to Nassau
in early April 2007, when he
presented his diplomatic letters
to the Governor-General, could
have been part of the process
where Middle Eastern leaders
and businessmen were assess-

Dealers report new
car sales off by up
to 50 per cent

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

CAR dealers yesterday
reported a significant drop in
new vehicle sales over the last
few months, with one saying
sales were down 50 per cent in
June compared to 2006,
although no underlying causes
have been identified.

Tribune Business spoke with
several dealers, all confirming
their numbers were down, with

one saying their company has |

sold less than 50 per cent of the
inventory they sold during the
same period last year.

‘ The dealers all requested that
their names and companies not
be mentioned, but one said: “I
can’t say how much exactly, but
it is quite a bit compared to last
June. We have noticed this from
right before the election, and
we first thought that it might be
the aftermath of the election,
but we’re not sure what is hap-
pening now.”

Another dealer added that
although new car sales numbers
were down, “there really is no
logical reason” for this. “There
is supposedly money available

ELEUTHERA #3102

and inventory available, and the
economy is supposed to be in
great shape,” they added.

The dealer said the summer
months tended to be a bit slow-
er, which is usually attributed
to the fact that during this peri-
od persons are saving to go on
vacations with their families.

He added that another fac-
tor might be that sales of sec-
ond-hand, relatively less expen-
sive Japanese right-hand drive
vehicles were increasing and
taking away from the new car
market.

A third dealer agreed that all
these reasons might be factors
contributing to the decline.

He said that according to
Bahamian commercial banks,
there was enough system liq-
uidity to facilitate borrowing.

“There has been a decline,
which is what we are hearing
from some of the other dealers,
but it is hard to say why this is
so,” the dealer said.

He added that while his com-
pany had seen a slow down
recently, they remained on tar-
get for the year’s projections.

“We track our floor invento-
ry and it is not declining, so we
really cannot put a finger on it,”
the dealer said.

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ing individual countries for their
suitability as alternate homes
and investment locations as ten-
sions rise across that region. -

Among the factors stoking
fears of instability across the
Middle East are Iran’s suspect-
ed nuclear programme and the
likely response of the US, Israel

‘and their western allies; the

ongoing insurgency and ‘civil
war’ in Iraq that could split the
country apart; the recent fight-
ing between Hamas and Fatah
that has split the Palestinians
apart (an agressive Israeli
response lurking in the back-

ground); and the continued ten-
sions in Lebanon.
One one side appears to be

~ Iran, Syria and their proxies,
and on the other the US, Israel °

and their proxies, with a host
of Bin Laden-inspired Islamic
extremists also in the mix.

Mr Joudi told Tribune Busi-
ness that wealthy Middle East
investors were seeking coun-
tries that were politically and
economically stable, and pro-
vided an attractive investment
and taxation climate, all char-
acteristics the Bahamas pos-
sesses.

He said: “They’re sending
their ambassadors out now to
check the viability of these
economies. The Bahamas will
be a similar climate in terms of

culture and wealth. They’re

very well educated and speak
English.”

The Bahamas has figured
prominently before on the radar
screens of wealthy Middle East-
ern investors. This nation pro-
vided a refuge for the deposed
Shah of Iran and his family in
the early 1980s, and the Atlantis
casino on Paradise Island has
proved an attrractive destina-

tion for Middle Eastern high-
rollers.

The Bahamas’ proximity to
the US, and location on the east
coast in the same timezone in
New York, are likely to prove
further advantages when it
comes to attracting billionaire
and multi-millionaire investors
from the Middle East.

“We need to promote the
Bahamas, go out there, take the
Chamber of Commerce, the
Minister of Tourism, the Minis-

SEE page 7

Tourist spending falls $13m in ‘06

@ By NEIL HARTNELL
Tribune Business Editor

TOTAL tourism
spending in 2006 fell by ~
less than | per cent
against 2005 compara-
tives, declining by $13
million to $2.056 bil-
lion, but the Ministry
of Tourism’s director-
general last night
warned that the indus-
try was facing “rough”
times and Bahamians
had their “work cut
out” to halt its slide.

Vernice Walkine told the Kiwanis AM
Club that while total visitor spending had
fallen only slightly from 2005’s $2.069 bil-
lion, other indicators painted a more trou-

Patricia



@ WALKINE

Director-general: Bahamas has ‘work cut out’

petitiveness.

Real Estate Agent

bling picture, namely that the Bahamas’
number one industry was losing its com-

While air arrivals had risen by 4.4 per
cent for 2005 as a whole, they had fallen by
5 per cent during the 2007 first quarter - a

_cause for concern given that air or stopover
visitors generated 90 per cent of the
Bahamas’ tourism spending.

Ms Walkine reiterated that some factors
contributing to the stopover decline includ-
ed the impact of the US passport regula-
tions contained in the Western Hemisphere
Travel Initiative (WHTI); loss of the Roy-
al Oasis’ 1300-rooms and some $270 million

to halt industry’s slide into ‘rough’ times

in per annum visitor spending on Grand
Bahama; and the fact that this nation’s room

inventory was expected to decline by 10

per cent this year due to situations such as
the Nassau Beach Hotel’s closure.

While the Bahamas had been successful
in attracting low-cost carriers such as Jet-
Blue, Spirit and WestJet to start flying to
this nation, Ms Walkine pointed out that
over the past two years these airlines had
also begun to serve Bermuda, the Domini-
can Republic, Turks & Caicos Islands, Aru-

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PAGE 2B, TUESDAY, JUNE 26, 2007

THE TRIBUNE



eee Pee i

‘Exchanging’ a Budget for
crucial economic reforms

ey) Botte Ae a a



- alloywheels
radio, CD nae

or the past several
weeks now, we have
been able to witness
debate in both the
House of Assembly and Senate
on the 2007-2008 Budget. As is
customary, the debate gave par-
liamentarians the opportunity to
comment on the allocations
made and the underlying priori-
ties implied by such allocations.
What was most interesting
was the difference of opinions
expressed on certain items. In
some cases, one side would refer
to something as being visionary
and beneficial to the Bahamian
masses, while the other side
would describe the same item as
being scandalous and a waste of
public funds...herein lies the
nature of politics.

Pre-election wish

Prior to the May 2, 2007, gen-
eral elections, I often comment-
ed that I would like to see a
strong opposition in the new
Parliament, as I consider a
strong opposition as essential to
the process of deepening democ-
racy.

Having got my wish, I now
have to ask myself: what is the
role of the opposition? Is it their
job to simply oppose everything
the Government proposes, or is
it their job to develop and clear-
ly articulate a viable alternative
to what they are objecting to?
This is an important question,
as opposing for the sake of
opposing is easy, and it often
does not even require rational
thought or robustness of argu-
ment. However, if the more
responsible latter approach is
taken; that is, the development
and articulation of a viable alter-
native, democracy is deepened.

Limited Policy Options

Getting back to the Budget,
my take on it is that there are
several critical areas in which
reform is needed in the Bahami-
an economy, and until those
reforms come about successive
governments will have very lim-

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Financial

- | By Larry Gibson



ited policy options as it relates to
governance. Not only are the
philosophical differences
between the parties becoming
blurred, but so too are the pure-
ly economic differences.

There are many elements of
our economy that require
reform. Who is going to step up
to tackle tax reform, which is
long overdue? The business
community is extremely opti-
mistic about the promise (or
intention) to eliminate exchange
controls. Will it actually happen
this term? How do we expand
our revenue base? To what
extent can we control expendi-
tures? How do we reduce the
public sector without causing
massive social dislocations?

I did not hear too many of
these types of issues being
addressed generally in the bud-
get debates in either the House
or the Senate. So for me, it was
pretty much business as usual.

Exchange Controls

I believe the eventual elimi-
nation of exchange controls has
the potential to be a transform-
ing event for the Bahamian

economy. I would recommend -

that we consider the following
actions as our next steps in the
process of exchange control
relaxation.

1. Amnesty

Now that our Central Bank
has started the relaxation of con-
trols on money going out of the
Bahamas for Capital Account
purposes, the next emphasis
should be on creating strategies
and policies to encourage
Bahamians to repatriate at least
the earnings and dividends (if
not portions of the capital itself)
on Bahamian-owned foreign



currency assets abroad.

To achieve this, I would rec-
ommend that we declare an
amnesty on all foreign currency
assets and bank balances held
abroad by Bahamian citizens.
The existence of computers
makes it very easy for banks to
track foreign currency that is
repatriated. Further, delegating
this function to commercial
banks would remove ‘red tape’
and improve efficiency. I would
even recommend going one step
further and guarantee future
convertibility at par on all funds
brought back into the country
under the amnesty.

While the amnesty is in effect,
there could be a temporary
apause on making any further
moves on capital outflows. This
would give the Central Bank the
opportunity to properly assess
the true situation, and provide it
with an opportunity to fine tune
its policies.

2. Personal Allocation

The second initiative I would
recommend is to grant each
adult a personal allocation of,

say, $10,000 per annum initially, -

for Whatever purpose they wish.
Over time this could be
increased until exchange con-
trols are eventually eliminated.
The annual allocation would not
be cumulative but rather a ‘use it
or lose it’ proposition.

Also, I would extend a similar:

personal allocation to approved
private pension funds, consistent
with recent measures afforded
to the National Insurance Board
(NIB).

3. Investment Currency
Market

This is an anachronism that
we can do without. As I stated
previously: “Unless we are pre-
pared to ban the use of US dol-
lars in our local economy (which
we would never do), we ought to
do away with the investment
currency market altogether.”

I believe that the above rec--:

NOTICE

ommendations, coupled with ini-
tiatives recently taken, will take
us many steps closer to our ulti-
mate goal (the elimination of

exchange controls) in a con-

trolled and systematic manner.
Further, I believe these mea-
sures will serve to promote more
long-term investment and sus-
tainable economic development.

New Members of Parliament
My final comments relate to

_the maiden presentations of

some of our ‘first-time’ parlia-
mentarians. Several of them
demonstrated that they did their
homework, and delivered well-
considered and well-presented
arguments. This was most
encouraging, and to ‘indepen-
dent thinkers’ was most wel-
come.

The electorate has every right
to expect preparation, vision
and robustness in parliamentary
presentations. To those who
took their job seriously, we
applaud them. To those who
wish to sit there and provide
entertainment, perhaps another
venue would be more suitable.

-I become quite disappointed

when more and more persons
express the opinion that watch-
ing the Parliamentary Channel is

a waste of time. This is not good .

for the deepening of democracy.
Until next week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president -. pensions, Colonial
Pensions Services (Bahamas), a

wholly-owned subsidiary of.

Colonial Group International,

-which owns Atlantic Medical

Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are those
of the author and do not neces-

sarily represent those of Colo-—

nial Group International or any
of its subsidiary and/or affiliated
companies. Please direct any
questions or comments to rlgib-

‘son@atlantichouse.com.bs _

“Parliament Place”

Comprising

Parliament Hotel,
Offices, Restaurant

& Patio



Located Parliament Street,
Downtown Nassau

Serious inquiries Only!
Tel: 325-5363 or 477-1579,




THE MARKETS
_STOCKS, MUTUAL FUNDS, 8B
pow30- 1335205 -821 W
sapsoo. 497.74 -4.82 W
‘NASDAQ 2,577.08 -1188 W
10-YRNOTE 5.08 06 W
69.18 +0.04 Ad

. ten
worries —
stifle
market

"BY MADLEN READ

- ‘Associated Press

NEW YORK — Wall Street
"gave up a big advance and
turned lower Monday as inves-
































he jitters ahead of the Federal
Reserve’s meeting on interest
ates later this week. __

The stock market, which has
‘seen huge swings in recent
reeks, was initially relieved to
hear from the National Associa-
n of Realtors that existing



























_ right now, profit-taking from

that big rise earlier this morning
what we’re seeing. The stock
market doesn’t like uncer-
ta’ tainty,’ ” said Matt Kelmon, port-







trategy Funds.

The Dow. Jones industrial
fell 8.21, or 0.06 per-
nt, to 13,352.05, after rising
‘more than 100 points earlier in
the day, and eine 185 Spon on
Friday. —

declined. The Standard &
Poor’s 500 index fell 4.82, or
).32 percent, to 1,497.74, and the
Yasdaq composite index lost

, to











gues by worries Sabout
n0r -backed securities. If
high-risk i investments are sour-
ing, investors tend to buy up
afe-haven Treasury issues.

Central bankers are widely
ected to keep the bench-
rk rate steady at 5.25 percent
ursday, but Wall Street is
ure if the Fed will alter its
tance on inflation, which could

&











ater in the year.
On. Monday, the dollar rose
_ against the euro and pound but
a against the yen. Gold prices
fa ‘Crude oil futures rose 4 cents
"to settle at $69.18 a barrel on the
New York = Mercantile
xchange, after falling to $68 a
rrel and then rising after
ws of refinery outages.
~ Gasoline futures also-
_ advanced, reigniting worries
_ that pump prices could bounce
back above $3 a gallon. U.S.
retail gasoline prices have
retreated to an average $2.978 a
~ gallon Monday, below the
- record high of $3.227 reached in
late May, according to AAA and
- the Oil Price Information Ser-
“oNice, |
oy Lhe Russell 2000 index of
smaller companies fell 7.29, or
0.87 percent, to 827.46.
Declining issues outnum-
bered advancers by more than 2
to 1 on the New York Stock
__ Exchange, where volume came
to 74 billion shares.
Overseas, Japan’s Nikkei
- stock average fell 0.56 percent.
Britain’s FTSE 100 rose 0.32 per-
cent, Germany’s DAX index fell
0.24 percent, and France’s
CAC-40 fell 0.34 percent.








tors suffered a renewed case of —



es declined in May by _
y 0 percent to 5. 99 million

wart encueh to...
stock market afloat, so.
en crude oil prices rose back —
ove $69 a barrel on news of —
: efinery_ outages, many —
lose f0 take money |

“With Dut aa BE a caaieat =

manager of the Kelmoore _

ean a rate hike or decrease a

WASHINGTON

World Bank approves

BY JEANNINE AVERSA
Associated Press

WASHINGTON — Robert Zoel-
lick, a seasoned player in interna-
tional financial and diplomatic cir-
cles, won the unanimous approval of
the World Bank’s board on Monday
to become the poverty-fighting insti-
tution’s next president.

Zoellick will succeed Paul Wol-
fowitz, whose last day is Saturday,
ending a stormy two-year tenure.
The new president will begin his
five-year term Sunday.

“I am ready to get to work,” Zoel-
lick declared shortly after the board’s
action.

Wolfowitz courted controversy
from the start because of his role in
the Iraq War when he was deputy
defense secretary. However, it was
his role in arranging a hefty pay raise
for Shaha Riza, his girlfriend and
bank employee, that forced his
upcoming departure. That prompted



INTERNATIONAL EDITION





a staff revolt and calls by for Wolfow-
itz to resign.

President Bush turned to Zoellick
— his former top trade envoy and
No. 2 diplomat — to the heal wounds
and mend the relationships strained

. by the Wolfowitz episode. Welcom-

ing the board’s
action Monday,
Bush called Zoel-
lick “a dynamic
leader who is
deeply committed
to the mission of

the World Bank.”
Zoellick, 53,
ZOELLICK brings to the

World Bank years
of experience in the foreign and eco-
nomic policy arenas under three
Republican presidents, starting with
Ronald Reagan. Zoellick left the Bush
administration last year to become an
executive at the Wall Street giant
Goldman Sachs.

AGRICULTURE



STRUGGLING BUSINESS: Gary Grose, manager of Tipton Valley Honey, speaks to the pressures of :
battling foreign competition: ‘The coup de grace? Sell us your honey at 60 cents less than you i
produced it for, or get out.’ Below, Grose scrapes the racks of hives at his Tipton, Okla., farm.

The World Bank board said Zoel-
lick brings “strong leadership and
managerial qualities as well as a
proven track record in international
affairs and the drive required to
enhance the credibility and effective-
ness of the bank.”

As World Bank chief, he’ll have his
work cut out for him. He’ll need to
regain trust, rebuild credibility and
mend frayed relations inside the
institution as well as with its member
countries. He’ll also need to persuade
countries to contribute nearly
$30 billion to fund a centerpiece bank
program that provides interest-free
loans to the world’s poorest coun-
tries.

The board said it was confident
that Zoellick will be able to “address
the challenges facing the bank.”

Of those challenges, Zoellick said:
“The world has changed enormously
since the creation of the bank some
60 years ago. This accomplished



|
|
{
|
|
}
|

}

|



PHOTOS BY JEFF pUlon/AP

PLIGHT OF HONEYBEE

CHEAPER IMPORTS ADD TO THE TROUBLES OF HONEYBEE FARMERS
ALREADY HAMPERED BY COLONY COLLAPSE DISORDER

BY JUSTIN JUOZAPAVICIUS
Associated Press

TIPTON, Okla. — Honey has
been in Gary Grose’s blood for

| nearly 35 years.

The bee colonies in his
commercial honey operation have
weathered fire ants, drought,
mites, aggressive Africanized bees
and a host of diseases, including
one that inexplicably wipes out
entire colonies.

But his biggest challenge these
days is the glut of honey imported
annually from countries such as
China, Vietnam and Argentina,
where it can be mass-produced
faster and cheaper than Grose
could ever dream of doing in this
| rural, southwestern Oklahoma
| community of 840.

“The coup de grace? Sell us your
honey at 60 cents less than you pro-
duced it for, or get out,” says Grose,
42, the manager of Tipton Valley
Honey. “Do you realize we’re now
outsourcing honeybees, for God’s
sake?”

Foreign competition is enough

for Grose, along with dozens of

farmers with small and medium-
sized operations, to think about
cashing in now and folding dec-
ades-old businesses.

The timing couldn’t be worse.
Along with the economic factors,
farmers in more than two dozen
states are seeing bees mysteriously
abandoning their hives, a condition
called colony collapse disorder.
Scientists are trying to determine
what the cause is, while some theo-
ries range from mass infection to
climate change.

The industry has also changed
over the last 30 years. As the
United States’ population grew,
farms got smaller. People who



inherited beekeeping businesses
turned away from that type of
farming, because there was too
much labor and not enough payoff.

Today, the survivors’ saving
grace is clientele they’ve slowly
built up at farmers’ markets, gen-
eral stores and health food shops,
where customers prefer a jar of
pure, locally produced honey to
one sold at a big-box retailer for
half the price.

Some also make up losses these
days by transporting their colonies
to pollinate crops across the coun-
try, such as California almond
groves.

But it’s a risky prospect: The
bees could become infected while
in transit, middlemen cut profits
and the process comes with plenty

‘of red tape.

Signs that the United States will
continue to look elsewhere for its
honey only make matters worse for
Grose and others.

U.S. imports of the natural
sweetener have climbed steadily in
the past 20 years, as domestic pro-

{

duction has declined, according to
figures from the National Honey |
Board and U.S. Department of Agri- |
culture.

“Unfortunately in this country,
we consume more than we pro-
duce,” says Jami Yanoski, with the
National Honey Board, a Firestone,
Colo.-based industry group set up
more than 15 years ago for large-
scale honey promotion.

In 1986, the U.S. produced about
200 million pounds of honey and
imported 120 million pounds,
according to the USDA. In 2005,
production was down to 175 million
pounds while imports topped
232 million pounds.

Last year, China, Argentina, Bra-
zil, India and Vietnam accounted
for more than three-fourths of all
U.S. honey imports, according to
the National Honey Board.

Domestic honeybee farmers are
also having to do more with less.
The number of honey-producing
colonies fell from 3.2 million in 1986
to 2.4 million in 2005, according to
the USDA.

L

Zoellick

institution of development, recon-
struction and finance not only needs
to adapt; it must lead the way,” to
bring about global change to help the
world’s poor.

German Development Minister ,
Heidemarie Wieczorek-Zeul, who
was highly critical of Wolfowitz, was
one of the first to congratulate Zoel-
lick.

“He brings all of the qualifications
with him needed to successfully fill
this demanding and responsible role.
... The greatest tasks facing mankind
in the 2lst century are waiting: The
fight against poverty and climate
change,” Wieczorek-Zeul said.

By tradition, the World Bank has
been run by an American. The Bush
administration made clear it wanted
to keep that decades-old practice
firmly intact throughout the Wolfow-
itz debacle. The United States is the
bank’s largest shareholder and its big-
gest financial contributor.

BRITAIN

Hedge fund
manager
agrees to
sell itself
for $3.4B

LONDON — (AP) — GLG Part-
ners, one of Europe’s largest hedge
funds, said Monday i it is selling itself

“trina $3.4 billion reverse takeover ‘that ~

will give it access to the U.S. stock
market.

Under the terms of the deal with
Freedom Acquisition Holdings, the
combined company will be named
GLG Partners and will trade on the
New York Stock Exchange. GLG,
which is not currently traded, may
also seek a listing in Europe.

“This strategic transaction is an
important step in building GLG’s
global business, affording us the
opportunity to increase brand aware-
ness and expand in major targeted
markets,” said Noam Gottesman, co-
chief executive of GLG.

New York-based Freedom Acqui-
sition is a “blank check” company, an
investment vehicle that allows the
parent company to raise money for
acquisitions by listing on the stock
exchange. Such companies reveal
acquisitions after putting shares on
the market.

Shares of Freedom Acquisition
rose 73 cents, or 7 percent, to $11.18
Monday.

GLG, with $20 billion under man-
agement, will receive $1 billion in
cash and 230 million shares of Free-
dom common stock, the company
said in a statement. Freedom’s share-
holders will own approximately
28 percent and current GLG equity
holders will own about 72 percent of
the combined company’s shares.

“I think its another example of
securitizing the business in the same
way that private equity has been buy-
ing up” businesses, said Richard
Hunter, a broker at Hargreaves Lans-
down in London. Management is
“looking to crystalize the value of
their business.”

Freedom was founded last year by
Nicolas Berggruen and Martin E.
Franklin, chief executive of a con-
sumer products conglomerate, Jar-
den. They will both join GLG’s board
of directors.

Berggruen’s company is an invest-
ment vehicle for his family’s money,
whose assets in 2004 exceeded
$1 billion.

His grandfather, Heinz Berggruen,
was a friend of Pablo Picasso and
operated the family’s art gallery in
Berlin until his death earlier this year.
Nicolas Berggruen’s father, John, also
operates a family gallery located in
San Francisco.

High-risk and largely unregulated,
hedge funds have traditionally been
the investment domain of the
wealthy. But the funds and private
equity firms have become more pop-
ular investments because of their
potential returns.

The GLG transaction is subject to
Freedom shareholder and regulatory
approval. GLG expects to complete
the deal early in the fourth quarter.



ECTS TET SL LT TALS EY

~~
THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e RETAIL





NICK UT/AP FILE

EARNINGS: Walgreens’, the nation’s biggest drugstore
chain, net income rose to $561.2 million, or 56 cents
per share, in the quarter that ended May 31.

Walgreens: Profit
rises on generic drugs

From Herald Wire Services

Walgreens (WAG), the largest U.S. drugstore chain, said
third-quarter profit rose 20 percent on increased sales of
generic drugs and a lower tax rate.

Net income climbed to $561.2 million, or 56 cents a share,
from $469.2 million, or 46 cents, a year earlier, the company
said. Sales advanced 13 percent to $13.7 billion in the three

months through May 31. |

Walgreens’ gross profit margin expanded on demand for
unbranded versions of drugs such as sleep medication
Ambien and blood-pressure treatment Norvasc. The retailer
also benefited from a tax rate that was lower than some ana-
lysts estimated and a $3.5 million credit related to inventory

adjustments.

e SEMINOLE TRIBE

HARD ROCK TO REACH
ASIA, EASTERN EUROPE

The Seminole Tribe of
Florida plans to expand the
Hard Rock restaurant, hotel
and casino chain in Asia,
Latin America and Eastern
Europe after buying the
company this year from
Britain’s Rank Group
(RANKF.PK).

_ The tribe.aims to double

the number of Hard Rock

Cafes to about 250 and have .
about 90 hotels, Hamish
Dodds, chief executive offi-
cer of Hard Rock Interna-
tional, said. Restaurants will
open at the rate of about
eight a year and hotels at
about five a year, he said.
The tribe also plans to
expand the casino business,
starting in the United States.

e SYNTHETIC FUEL

TYSON FOODS TO MAKE
BIOFUEL FROM FAT

Tyson Foods (TSN), the
world’s largest meat pro-
ducer, announced its second
joint venture to make syn-
thetic fuel out of leftover fat
from beef, pork and chicken.

Tyson and Tulsa, Okla.-
based Syntroleum
(SYNMZ) said they will .
spend $150 million to build
the first of what could be
several plants to refine ani-
mal and vegetable fats into
diesel, jet fuel and fuel for
the military. It is the second
such venture Tyson has
announced in the past two
months.

e MEDIA

DOW JONES, NEWS
CLOSER TO ACCORD

Rupert Murdoch’s News
Corp. (NWS) appeared to
be making progress in talks
with Dow Jones & Co.
(DJ) over measures to pro-
tect The Wall Street Jour-
nal’s editorial independence.

The New York Times
and the Journal reported
that News Corp. responded
to proposals from Dow
Jones about an editorial
oversight board that would
be created to protect the
Journal from corporate
interference and that the
two sides appeared to be

‘moving closer together.

Dow Jones and News Corp.
both declined to comment.

e MERGER

BORSA ITALIANA SALE
APPROVAL ON TRACK

London Stock
Exchange Chief Executive
Clara Furse said she is confi-
dent of receiving share-
holder approval for the
bourse’s $2.19 billion all-
share takeover of Borsa
Italiana.

Furse said the deal, which
has been unanimously-.-- :
approved by both boards,
has “more than sufficient
shareholder support” among
LSE shareholders for it to go
forward.

The LSE is offering 4.9 of .
its own shares for each
Borsa Italiana share. LSE
shares were 0.4 percent
lower at $26.97. The Italian
exchange is unlisted and
owned mainly by Italian
banks.

Under the deal, the two
exchanges will remain sepa-
rate entities, reflecting the
distinct market profiles,
combined under one group
with a value of $7.76 billion,
the companies said ina
statement outlining terms of
the deal.

e TRADING

BLACKSTONE SHARES
DROP AFTER IPO

Blackstone Group (BX)
shares fell 7.5 percent on
their second trading day,
giving back more than half
the gain from the buyout
firm’s June 22 debut as a
public company.

The stock dropped $2.62
to $32.44 in New York Stock
Exchange composite trad-
ing. New York-based Black-
stone sold 133.3 million
shares for $31 each, the high
end of the range used to
market the initial public
offering. The stock rose 13
percent on the first trading
day.

“The Blackstone IPO
probably suggests that the
returns you're going to get
from private equity are
less,” said Jason Trennert,
chief investment strategist
at Strategas Research Part-
ners LLC in New York.

Blackstone’s owners
retained 78.3 percent of the
company after selling 12.3
percent to the public and a
9.4 percent stake to China’s
soon-to-be-formed State
Investment Co.

_LATE TRADING |





4p.m. 6:35 p.m. Late
close

4p.m. 6:35 p.m.
lose close



Late
Stock Tkr. close Chg. volume Stock Tk. cl Chg. volume
FannieMIf FNM 66.24 66.24 202239 | Dellinclf DELL 27.09 27.09 ° 25030
FredMac FRE 6159 61.59 * 171963 | Altrias MO 68.75 63.79 +04 24771
Avaya AV 16.78 16.81 +03 83041} PioNtrl PXD 50.72, 50.72 * 18972
iShR2K nya IWM 82.49 82.60 = +.11 = 68140 CSXs csx 44.62 44.62 16325
Biogenide BIB = 51.75 51.76 = +01 67912 | Clearchan CCU 37.20 ~—«37.20 15648
Kraft KFT 35.61 35.65 = +.04 67396 i ‘ .
: Metlife MET 64.02 64.02 15608
Microsoft MSFT = 29.49 29.46 —--.03 60766
FordM F 9.03 9.07 4.04 15429
NRGEgys NRG 42.22 42.20» -.03 40511
Opsware OPSW 9.36 4741-35134. | VentanaM MSI 51.74 = 78.90 +27.16 13118
SPDR SPY 149.83 150.01 +18 31005 | Ventas = VIR_— 35.60 35.73 +13 13042
ConocPhil COP 78.04 = 77.99. 05 30337 Staples SPLS 24.03 24.07 +.04 12530
TimeWarn TWX 21.45 21.42, 0327761 KemetCp KEM = 7.16 117 +01 12465
PwShsQQQ QQ0Q 47.09 47.17 +08 27011 | ApldMatl AMAT 19.88 1991 +.03 11441



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





INTERNATIONAL EDITION

TUESDAY, JUNE 26, 2007 | 4B

Nations split on trade

BY BRADLEY S. KLAPPER
Associated Press ‘

GENEVA — A group of
Latin American and Asian
members of the World Trade
Organization proposed Mon-
day a “middle ground” in talks
to liberalize trade in manufac-
tured goods — a sign that
developing countries are
breaking ranks with Brazil and
India.

The proposal calls for
greater concessions by both
rich and poor countries as part
of efforts at reaching a new
global trade pact and comes
only days after talks among
the WTO’s four biggest pow-
ers collapsed in Germany over
eliminating barriers to farm
and manufacturing imports.

Signed by Chile, Colombia,
Costa Rica, Hong Kong, Mex-
ico, Peru, Singapore and Thai-
land, the offer would open up
industrial markets in the

developing world to greater

SINGAPORE



foreign competition than
under proposals made last
week by Brazil and India.

Brazil and India were
sharply criticized by the
United States and the Euro
pean Union for refusing to
offer new market opportuni-
ties for manufacturing
exports. The two emerginy
powers in turn blamed the
impasse on U.S. reluctance to
make cuts in the billions of
dollars it pays annually in farm
subsidies.

Monday’s proposal warned
that all WT'O members need
to give ground in the global
trade talks, which aim to add
billions of dollars to the world
economy and lift millions of
people out of poverty through
new trade flows. They have
struggled largely because of
wrangling between rich and
poor countries over eliminat-
ing barriers to farm trade and,
more recently, industrial

trade.

Failure over the next five
weeks to agree on the frame-
work of a deal to cut tariffs
and slash subsidies could
make an accord impossible for
at least three years, trade offi-
cials have warned. They say
subsidy and tariff concessions
are very unlikely in 2008,
when U.S. elections will be
held, and 2009, when Indian
elections are scheduled.

Under the complicated for-
mula used by the WTO for
determining industrial tariff
cuts, a lower figure corre-
sponds to higher cuts and
greater market access for
exporters.

Officials at the meeting last
week in the German city of
Potsdam said Brazil and India
proposed a figure of 30, more
flexible than their official posi-
tion of 35, which is supported
by a group of developing
countries that includes Argen-

tina and Venezuela, which are
both skeptical of greater
industrial liberalization.
Washington and Brussels are
insisting on a lower coefficient
from leading developing coun-
tries to ensure the creation of
new trade flows.

The proposal Tuesday
would go closer to U.S. and
EU demands, calling for devel-
oping countries to accept a tig-’
ure “between the upper teens
and the low twenties.”

It urged rich nations to go
beyond the figure of 10 that
they are demanding of them-
selves.

Compromise papers by the _ -

WTO’s top agriculture and .-.°

manufacturing negotiators are
expected to be released in
July, but many are doubtful
that talks in Geneva among 150
members will turn out more
successful than those that
involved just the United
States, EU, Brazil and India.



LIPO CHING/SAN JOSE MERCURY NEWS

HEAVY POLLUTION: Rush-hour traffic heads through thick smog in Beijing. China overtook the United States in
carbon-dioxide emissions in 2006, but Asian leaders say the United States profits from China’s dirty industries.

Asian leaders criticize policy on pollution

BY GILLIAN WONG
Associated Press

SINGAPORE — Developed
countries are hypocritical for
criticizing China’s greenhouse
gas emissions while using the
country’s cheap labor to
power industries that pollute,
Asian business and govern-
ment leaders said Monday.

“This is green imperial-
ism,” Nor Mohamed Yakcop,
Malaysia’s deputy finance
minister, told a panél discus-
sion on global warming at the
World Economic Forum on
East Asia, a two-day confer-
ence.

China has come under
increasihg pressure from the
United States in particular to
take more forceful measures
to curb carbon-dioxide emis-
sions. China relies on coal,

ECONOMY >

among the dirtiest fuels, to
provide two-thirds of its
energy.

Asian leaders also criticized

the United States and Austra-

lia for not signing the 1997
Kyoto Protocol.

China signed the treaty but
is exempt from emission
reductions because it is con-
sidered a developing country,
a situation often cited by the
United States and Australia for
rejecting the treaty.

Nor Mohamed said there
was no point singling out one
country when climate change
is a global problem. “Compa-
nies that are polluting in China
are owned by American, Euro-
pean, Japanese and others.
They are benefiting from the
cheap labor, from the
resources and at the same time

accusing China of pollution,”
the Malaysian official said.
“Let’s take the hypocrisy
out of the equation,” he said. |
China overtook the United
States in carbon-dioxide emis-
sions by about 7.5 percent in
2006, according to the Nether-
lands Environmental Assess-
ment Agency’s report. While
China was 2 percent below the
United States in carbon-diox-
ide emissions in 2005, vora-
cious coal consumption and
increased cement production
caused the numbers to rise
rapidly, the agency said.
China also uses other num-
bers to contend that it is not
the worst offender: With 13
billion people, China spews
about 10,500 pounds of carbon
dioxide per person, while the
United States‘releases nearly

42,500 pounds.

Chen Feng, the chairman of
China Hainan Airlines, said
now was not the time to assign
blame but to create an interna-
tional solution, saying devel-
oped nations were the original
polluters.

“So the way I see it is, you
were robbers and bandits
before you became right-
minded people,” he said.

President Bush recently
proposed a meeting of the 15
biggest emitters of greenhouse
gases to set an emissions goal.
Japan’s environment minister
called the proposal “signifi-
cant” but said it was crucial
the top emitters participate.

Associated Press reporters
Eileen Ng, Derrick Ho and
Vijay Joshi in Singapore con-
tributed to this report.

Homes sales hit slowest pace in 4 years

BY MARTIN CRUTSINGER
Associated Press

WASHINGTON — Sales of
existing homes fell for a third
straight month in May, drop-
ping to the lowest level in four
years as the median sales price
declined for a record 10th con-
secutive month.

In a troubling sign for the
future, the inventory of unsold
homes shot up to the highest
level in 15 years, meaning
more downward pressure on
prices in the months ahead
until the inventory glut is
reduced.

Sales fell by 0.3 percent in
May to a seasonally adjusted
annual rate of 5.99 million
units, the National Association
of Realtors reported Monday.
Sales now stand 10.3 percent
below where they were a year
ago.

The median price of an
existing home sold last month
fell to $223,700, down 2.1 per-
cent from a year ago. It
marked the 10th straight price
decline compared with a year
ago, the longest stretch on

The median price of an existing home sold last
month fell to $223,700, down 2.1 percent from

a year ago.

record.

The drop in sales was in
line with expectations, provid-
ing relief on Wall Street where
analysts had been braced for
an even worse showing.

Economists predicted home
prices would likely head lower
in the months ahead because
of continued troubles in
reducing the stockpile of
unsold homes, which rose 5
percent in May to 4.43 million
units. That was an 8.9 months
supply at the May sales pace, a
level that has not been seen
since July 1992, the last time
the country went through a
serious housing slump.

“The only way we are going
to chip away at this Mount
Everett-sized pile of inventory
is by price cuts and so far, sell-
ers haven’t been aggressive
enough,” said Mike Larson, a
real estate analyst at Weiss

a

Research.

“Don’t look tor a lasting
bottom in the housing market
anytime soon.”

The sales decline was led
by a 3.4 percent drop in the
South. Sales also fell in the
West, dropping 0.8 percent.

Sales rose by 5.8 percent in
the Northeast and 0.7 percent
in the Midwest.

Economists predicted fur-
ther sales declines in forth-
coming months as housing is
aftected by recent troubles in
subprime mortgages, which
have caused banks and other
lenders to raise their qualifica-
tion standards, making it
harder for potential buyers to
obtain financing. Rising mort-
gage defaults also mean more
homes dumped on a glutted
market.

Some analysts said they
believed the once high-flying

housing market was going
through a crisis of confidence.
Sales of both new and existing *
homes set records for five-
straight years, prompting what
many believe was a specula-
tive bubble in some parts of
the country as investors .
rushed in to buy properties in -
hopes of a quick resale to take °
advantage of home prices that
were climbing at double-digit
rates.

Lawrence Yun, senior
economist for the Realtors,
noted that household forma-
tion had slowed. He said that
implied many people had
decided to put off buying a
home and were doubling-up in ,
rental units or moving back
home with parents.

He said activity in the exist-
ing home sales market, which
accounts for about 86 percent
of annual sales, would con-
tinue to suffer until builders
were more successtul in trim-
ming their production levels {
for new homes, which make /
up the other 14 percent of/
annual home sales.


a Oe at eS, ee Pal are

oc «

THE TRIBUNE



Benchmark hopes property
work to start in 2007 Q3

@ By NEIL HARTNELL
Tribune Business Editor

enchmark
(Bahamas) yester-
day said it hoped to
begin construction
on its one-acre commercial

property project by the end of

the 2007 third quarter, depend-
ing on the permitting process,
with some “very strong indica-
tions of interest” from busi-
nesses interested in joining
anchor tenant Bank of the
Bahamas International.

Julian Brown, Benchmark
(Bahamas) president, told The
Tribune that groundbreaking
would take place before year
end, its Benchmark Properties
(Bahamas) subsidiary having
completed “the most difficult
part of the transaction, I believe,
which was to acquire the prop-
erty”.

Mr Brown was reluctant to
estimate when construction
would start, saying he hoped it
would be before the end of the
2007 third quarter, as the com-
pany now had to obtain all rel-
evant construction permits and
approvals from the likes of the
Town Planning Committee and
Department of Physical Plan-
ning.

Architects’ renditions of the
14,733 square foot site, located
on Carmichael and Fire Trail
Roads, have already been com-
pleted, Mr Brown saying
Benchmark already knew what
the site looked like.

He added that the complex
was likely to be completed with-
in 12-18 months of ground being
broken, with Bank of the
Bahamas International - which
is financing the contruction with
a $2 million loan - having signed
a Letter of Intent to act as the
anchor tenant, occupying some
5,000 square feet or more than a
third of the available space with



= UTS ats)



8B BENCHMARK PRESIDENT JULIAN BROWN

one of its branches.

When it came to other ten-
ants, Mr Brown said: “We don’t
have any formally signed up,
but we have a lot talking to us,
and have had some very strong
expressions of interest. | think
we will have no difficulty at all
in getting that property out
there fuly rented.

“Other financial institutions
wanted to know what we’re
doing, indicated they were inter-
ested, and now they know who
the anchor tenant is, it will cre-
ate much more interest.”

Mr Brown said the develop-
ment suited both Benchmark
and Bank Of the Bahamas Inter-
national perfectly, which his
company wanting to do a com-

(FILE photo)

mercial real estate development
in the area.

From the bank’s perspective,
it was keen to establish a branch
in a location, Carmichael,
regarded as one of the fastest
growing population centres in
New Providence, yet relatively
unserved by financial services
providers. Other banks are also
interested in establishing a
branch presence there.

“The deal came to us through
a very good relationship we
have, and we pretty much put it
together without any difficul-
ty,” Mr Brown said.

“It was a key ingredient for us
to go ahead and do it, knowing
we had one third of-the-space
rented before we started.”

MINISTRY OF WORKS & TRANSPORT

&

KNOWLES CONSTRUCTION AND DEVELOPMENT

COMPANY LTD.

Mr Brown said Benchmark
would focus on getting this real
estate project “up and running”,
rather than look to acquire oth-
er sites for property develop-
ment. Yet the company was
interested in property develop-
ment throughout the Bahami-
an islands.

“If something good came up,
we'd have to take a look at it,
but I’m not on the corner look-
ing for the next property to
buy,” Mr Brown added. “I’m
very pleased with what we’ve
done so far, and the future
looks very good for Bench-
mark.”

Benchmark was a 20 per cent
investor in the John S George
investor group that sold the
retailer to Andrew Wilson,
owner of Quality Business Cen-
tre, with 50 per cent of the pur-
chase price involving a land
swap of 10-and-a-half acres in
western New Providence.

Mr Brown, though, said
Benchmark had opted not to
participate in the land swap
because the company did not
want to be a minority share-
holder in a property develop-
ment firm, instead opting to
take five-year promissory notes
to recover its $300,000 invest-
ment.

BISX-listed Benchmark is
putting $900,000 of its own equi-
ty into the purchase of the
Carmichael property, con-
tributing one-third of the total
financing from its own
resources, in a move to diversi-
fy the company away from its
reliance on the Bahamian stock

Flat: Terra Cotta Roof Tiles
7,500 sq.f.:and
accessories, $19,000.00

Phone 324-6441 or.
Cell 424-8299






TUESDAY, JUNE 26, 2007, PAGE 5B

market and performance of the
Alliance Investment Manage-
ment subsidiary.

Benchmark will be responsi-
ble for all aspects of its devel-
opment, from the land purchase
through construction to the
leasing, ownership and opera-
tion. Benchmark Properties was
also interested in acquiring
existing properties and taking
over their rental revenue
streams. Benchmark had always
been designed with three sepa-
rate segments in mind — the
mutual fund and Alliance
investment advisory business;
the investment in private com-
panies as part of private equity
consortiums; and the develop-
ment of real estate.

Mr Brown previously said
real estate investments in the
Bahamas in general had a his-
tory of generating an “above
average rate of return” on
adjusted capital, making it a
good business for Benchmark
Properties (Bahamas), which
was incorporated during. the
2006 third quarter, to get into.



@ Squash Club
on Village Rd.
July 2 - 20th
9 — 12:30 pm
Ages 7-14
$100.00/week

Come have fun
Call 394-5042
Registration
Deadline June 30th



NOTIGE
Mt. Carmel

Preparatory Primary School is expanding
Call for admissions information today.

325-6571/325-6570

—

ey
_ Interest rate
, On approved credit. Valid
SUC] er
Up to 72 months.

MILO purcmx HiGHWAY -
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 25
June, 2007.

Civic Si Sedan



Ready for a Little Attention?

The 2007 Honda Civic Sedan or Civic Si Sedan is sure to attract a crowd.
Named a “Best Buy” in its class by Consumer Guide, the new Civic features a long list
of advanced safety features plus an ultra-low emission, fuel-efficient 1.8 litre engine.

Both the sedan models come with anti-lock brakes, dual front and side air bags and a
350-watt, 7-speaker audio system. And they’re backed by a 2-year/ 24000-mile

ee : . 2 factory warranty.

The Public is advised to observe the construction signs

pointing out the temporary traffic man agement. At Nassau Motor Company, there's always a better way to get where you want to go.



Please drive with care and caution in the construction

Zones.
Nassau Motor Company Limited \

Shirley St. ¢ P.O. Box SS-62135 ¢ Nassau, Bahamas

Tel: (242) 328-2285 © Fax: (242) 323-7272
Website: www.hondabahamas.com



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




NASSAU MOTOR CO LTD


PAGE 6B, TUESDAY, JUNE 26, 2007

THE TRIBUNE





LEGAL NOTICE

NOTICE
K.B. INVESTMENT CORP.

International Business Companies Act 2000

Pursuant to the provisions of Section 137
(8) of the International Business Companies
Act, 2000, Notice is hereby given that the
_above-named Company has been dissolved
and struck off the Register, a Certificate
of Dissolution has been issued by the
Registrar General on the 11th day of April,
2007.

Anthony B. Dupuch
Liquidator

Legal Notice

NOTICE

SIGMA BAHAMAS LTD.

IN VOLUNTARY LIQUIDATION

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 SIGMA BAHAMAS

LID.is in dissolution

The Date of the Commencement of dissolution was 25th June
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd.,
Building 2 Caves Village, PO. Box N-3917 is the Liquidator of
SIGMA BAHAMAS 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 25th July 2007.

_

ae
YL?)

G

id Thain
/ ViQuidator



NOTICE |
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
(No. 45 of 2000)

MINCOLT ENTERPRISES LIMITED

Notice is hereby given that in accordance with Section 138
Business Companies Act, No. 45

of MINCOLT ENTERPRISES

(8) of the International

of 2000, the Dissolution
LIMITED has been completed, a Certificate of Dissolution has
been issued and the Company has therefore been struck off the

Register. The date of completion of the dissolution was June 13, 2007.

For: Continental Liquidators, Inc.
Liquidator

BUSINESS

Alleged fraudsters

transfer $500k

proceeds to
the Bahamas

i@ By NEIL HARTNELL
Tribune Business Editor

he perpetrators of an alleged $11

million investment fraud shave

transferred more than $500,000

. of the proceeds to Bahamas-

based accounts since May | this year, osten-

sibly 10 purchase fand in this nation, court
documents have revealed.

An affidavit from Robert McBurney, a
law enforcement officer in the securities
division of the South Carolina Attorney
General's Office, alleged that substantial
funds were being moved to the Bahamas by
Tony Pugh, Tim McQueen and Joseph

. Brunson, the alleged masterminds behind

an investment fraud involving entities called
3 Hebrew Boys and Capital Consortium
Group.

The three and their companies were
allegedly soliciting US citizens to invest
money with them, which would be used to
generate returns from foreign exchange
trading. ,

Yet Pough had been convicted of finan-
cial crimes before, and $11 million in
investor monies allegedly transferred from
Bank of America in the US to First Citizens
Bank of South Carolina after the former
filed a suspicious transactions report in
April: 2007.

The McBurney affidavit was filed to sup-
port a move by the South Carolina author-
ities to freeze the First Citizens bank
accounts and prevent the men moving the
funds out of the US. McBurney alleged:
“My review of First Citizens accounts also
shows wire transfers to offshore accounts.

“Multipie transfers to the Bahamas are

shown as occuring just since the first of
May 2007, and these transfers so far total .
over half a million dollars. These transfers -
appear to benefit an entity known as the
Alexander Development Group, which is
not involved in foreign currency exchange.” °
These developments again show the need ©
for the Bahamas and its financial services
industries to beware of being abused by
suspect foreigners, and to conduct thor-
ough due diligence before incorporating
companies and other entities, and opening
bank accounts, for their clients.
McBurney’s affidavit alleges that the
three men’s scheme appeared to be a Ponzi-’
type fraud, with no investor monies seem-,

ingly invested, and the First Citizens, . S

accounts not containing enough money to
pay the investors the returns they had been
promised at seminars.

2

*

Disaster recovery
plans Vital, Bahamian |

businesses warned _

.

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

WITH more than 40 per cent
of US businesses closing per-
manently after experiencing
some type of disaster, whether
natural or man-made, Bahami-
an auditors were yesterday told
it was Vital that Bahamas-based
companies have some type of
contingency plan in the event
they are unable to operate nor-
mally.

Jean Bennajma, special assis-
tant to the director in the imme-
diate office, Technology and
General services, at the Inter-
national Monetary Fund (IMF),
told an Institute of Internal

such a business continuity/dis-
aster recovery plan was
absolutely critical if a company
is to survive the aftermath of
disasters such as a hurricane or
fire.

She said such a plan should
ideally allow contingencies for a
complete loss of operations for
at least a six-week period. It is
essential, Ms V added, that
measures such as where and
when employees report to
work, who is authorisied to
speak to the media and the
backup of information were all
placed in writing and known by
employees ahead of time.

Equally important, she said,
was a life safety plan which will
be implemented to get employ-
ees away from the danger zone.

there were three main reasons
for implementing a business
continuity plan - it makes good
business sense; it is required in
many cases by law; and, finally,
it might be required in company
policy.

She noted that disasters can
have detrimental effects on
business. For instance, in major
cases some 43 per cent of busi-
nesses may never reopen their
doors following a disaster, while
another 29 per cent close with-
in two years. There is also the
cost of the downtime employees

will face.

Ms Bennajma said that in
preparing a business continuity
plan, a company should per-
form a risk analysis and a busi-:
ness and financial impact analy-'.
Sis. esas

Once a working plan is estab-"

lished, she said, it can be taken. :

to insurance companies to see if-

there is any way to lower pre-~ .

miums since risk issues have
been addressed. The plan.
should be regularly updated as
the needs of the business
change, Ms Bennajma said.

Auditors seminar that creating



Be cad Ws
yee ea BESET

Ms Bennajma added that

evrreter

=) FIDELITY.

UE Ee
BeAr RCL

Pricing Information As Of:
Monday, 25 June 2007



A a ae ae

0.000
1.548
0.737
-0.013
0.279
0.064
0.549
0.281
1.152
0.112
0.281
0.694
0.787
0.977
1.657
-0.432
0.532
0.868
1167

o
Abaco Markets 3,850
Bahamas Property Fund 1,000
Bank of Bahamas : : 650
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
” Famguard : : : 1,000
Finco : : 0.00 360
FirstCaribbean j 0.04 1,000
Focol : 1.01 6,000
Freeport Concrete be ; 0.00
ICD Utilities ; : -0.05
J. S. Johnson ; F 0.00
Premier Real Estate ae 0.00
erThe-Counter Securities
52wk-Low Ask $ Last Price Weekly Vol. EPS $
12.25 Bahamas Supermarkets 15.60 16.00
10.00 Caribbean Crossings (Pref) ; 8.25 10.60
Z Idi 0.45 ; 0.55 | 0.20
Le ina Over-The-Counter Securities —
: B ‘ 43.00 41.00
14,00 Bahamas Supermarkets ; 15.50 14.00
0.35 RND Holdings - AE 0.55 / 0.45
ee - BISX Listed Mutual Funds
NA V YTD% Last 12 Months Div $
1.343743"
3.2018***
2.681688**
1.244286****

1,500

1,000
7,145
3,500

7 we weer

eee

1,500

Trees) ae

The Anglican Central Education Authority invites
applications from qualified Bahamians for the position
of Vice Principal for St. John’s College beginning
September 2007. :

*e@eeee a”

The Applicant must have a Degree in Education from ‘
a recognized University, with at least 10 years

Fund Name Yield % accumulative experience.
Colina Money Market Fund
Fidelity Bahamas G & | Fund
2.3915 Colina MSI Preferred Fund

1.1695 Colina Bond Fund

~ 52wk-Low
12933
2.9038



For further details please contact the Anglican Central
Education Authority on Sands Road at telephone
(242) 322-3015.

11.0199 Fidelity Prime Income Fund

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks

# Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Changs 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

_JO TRADE CALL: COLINA 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL (242) 394-2503

aaa commie
FINDEX: CLOSE 809.14 / YTD 09.03% / 2006 34.47%
MARKET TERMS YIELD - last 12 month dividends divided by closing price
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 volurne of the prior week

EPS $ - Acompany’s reported earnings per share for the last 12 mths

NAW - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



NAV KEY

*-~ 15 June 2007

** - 30 April 2007

*** 31 May 2007

**** - 30 April 2007

31 May 2007

Letters of application must be addressed to:




THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION

ry PF PeOR aS a.

AUTHORITY
P.O. BOX N-656

NASSAU, BAHAMAS

The Deadline for applications is Friday, July 13, 2007

c=
THE TRIBUNE

| UESDAY, JUNE 26, 2007, PAGE 7B



Ric See eee
Blackstone Group’s shares drop as

investors struggle with valuation

@ By DAN SEYMOUR
AP Business Writer

NEW YORK (AP) — Shares of
Blackstone Group LP sank during their
second day of trading yesterday, as the
stock pulled back sharply following a
widely hyped initial public offering.

The stock fell 7.5 per cent, or $2.62, to
close at $32.44. It was among the loss

leaders on a percentage basis on the

New York Stock Exchange, having fall-
en as low as $31.90 on volume of more
than 35 million shares.

The decline also wiped nearly $600
million (?446 million) off the personal
fortune of Stephen Schwarzman, the

company’s chief executive and largest
shareholder.

Nick Perry, an equity options analyst
at Schaffer’s Investment Research, said
a pullback the second trading day after
a high-profile IPO is typical.

“There was a whole lot of attention
on this deal, and weakness usually fol-
lows when a stock has been hyped as
much as Blackstone was,” he said.
“That usually goes away after a day or
two.”

Shares of Blackstone jumped 13.1 per
cent on Friday after the private equity
firm fetched $31 per share in its IPO. It
was the largest US IPO in five years
and the sixth-largest ever.

But valuing Blackstone Group is a
tricky proposition. Normally investors
measure a company against the worth of
similar companies. But Fortress Invest-
ment Group is the only stock compara-
ble to Blackstone Group, and even
then, Fortress operates certain funds

that do not correlate to Blackstone.

Hike
Plus, Blackstone faces the possibility
of a sharp tax hike under proposed leg-

islation in Congress. Depending on
what version is approved, this tax hike

could take effect either immediately or.

in five years, further heightening the

uncertainty investors face when trying
to determine how much Blackstone is
worth.

Barron’s, the investment magazine
published by Dow Jones, ran a cover
story on Blackstone in its new issue
arguing the firm’s stock may disappoint
investors.

Blackstone’s IPO may hint at the top

of the private equity boom, Barron’s,

contended, as the firm seeks to cash in
on its business before rising interest
rates and expensive stocks hamper the
industry. aS
The stock price assumes Blackstone
will be able to keep turning public com-
panies around and selling them for a

profit, Barron’s said. Based_on the
obstacles facing this assumption, Bar-
ron’s argued Blackstone’s stock is sig-
nificantly overvalued.

Earlier this year, Fortress Investment
Group LLC became the first publicly
traded hedge fund to go public. The
stock priced at $18.50 in its IPO and
spiked by more than two-thirds to close
its first day of trading at $31. The shares
subsequently cooled off, falling about 10
per cent in the next week. The shares
fell 4.1 per cent to $23.25 Monday.

e AP Business Writers Joe Bel Bruno
and Kristen A. Lee in New York con-
tributed to this report.



Bahamas urged to target Middle Eastern investors

FROM page 1

ter of Finance - the top guys - along with
the Foreign Minister representatives,
and set up meetings with investors,” Mr
Joudi said.

“Let them know-about the Bahamas,
’ and that we have what it takes. Let them
‘know they can live the lifestyle here that

they have there.

Profits

“Tn Saudi Arabia, Dubai and Kuwait,
it’s just nothing but profits from the
petrodollars. They have a surplus of
money sitting on the sidelines just wait-
ing to be invested, whether it’s in bonds,

Tourist spending falls $13m in ‘06

real estate. They have a surplus of mon-
ey they could invest in this country.”

Purchasing

Apart from just purchasing high-end
real estate in the Bahamas, and pur-
chasing all the goods and ancillary ser-
vices needed to sustain their lifestyle,
Mr Joudi said Middle Eastern investors
were also likely to be willing to invest in
existing and setting up Bahamas-based
businesses.

. ._.He added that the Bahamas Interna-

tional Securities Exchange (BISX) would
benefit if these investors bought its list-
ed equities and government debt issues,
or-used the exchange as a vehicle to

access the international capital markets.
Middle Eastern investors based in the
Bahamas would also be likely to use its
financial services industry’s products,
the sector having been encouraged sev-
eral times to look at developing products
to serve the Islamic market.

Market

Mr Joudi said: “The only way for them
to know about us is to go out there int
the market ourselves and let them know
about our product.

“We cannot just depend on the US
market, the Canadian market, the ones
nearby. We need to reach out to these
markets that have surplus assets and are

willing to take risks.
Timing

“Timing is very important. We have a
fresh government that is willing, aggres-
sive abd a very wealthy region that is
unstable. The Bahamas can benefit from
that. We could go there, market the
country, create a value environment for
business investment and benefit from all
that.”

Mr Joudi suggested that the Bahamas
could establish a “fully-fledged” embassy
in Dubai as a base from which this
nation’s business and investment envi-
ronment could be marketed to the whole ©
Middle East.

INSIGHT

For the
stories behind

the news, read
Insight on
Mondays








PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL



FROM page 1

ba and St Maarten.

These countries now enjoyed
similar air fares into the desti-
nation as the Bahamas, “taking
away the price advantage we
have had in recent years”.

The Bahamas had also “taken
a hit in the impulse travel mar-
ket”, featuring those visitors
who lived in Florida and the
south-east and east coast US,
who decided to come to this
nation on a plane or boat at the
spur of the moment.

The WHTI and airport secu-
rity procedures in the post-Sep-
tember 11 environment had
impacted this market, with Ms
Walkine.questioning whether it



-from people who are
making news in their
‘neighbourhoods. Perhaps
‘you are raising funds for a
’s0od cause, campaigning
|.for improvements in the
‘area or have won an
caward.

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

a

4
i B)

M

Share your news

The Tribune wants to hear

yy

would “ever fully recover”.

“T hope by now | would have
shocked you to the reality of
how rough things are, and will
get for us if we do not halt the
slide jin our tourism,” Ms
Walkine said....... “As Bahami-
ans, we have our work cut out

for us.”
She added: “The ball is in our
COULL.... eee Are we ready

for this very real challenge to
our livelihood, and the high
quality of life that we have
become so accustommed to?
“We have to face the facts. I
suggest that we, collectively as
Bahamians, take a look in the
mirror. Do we see something
we can be proud of? From my
angle, we have some serious












ole

LEY.

Reot © Sue

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 — Vinance
Manager” or you may fax it to (242) 702-2822 no later than
June 29", 2007



house cleaning to do.”

Ms Walkine said Bahamians’
attitude towards the environ-
ment “leaves much to be
desired”, and questioned why

so many native trees-were ‘mur-.

dered’. Tourists, she added,
wanted a safe, crime-free envi-
ronment wherever they went in



ENA Te

the Bahamas, and expected to
receive an experience that
matched the high prices being
paid for a vacation in this
nation.

Ms Walkine said the
Bahamas’ current airlift capac-
ity met the threshold required
for the industry’s needs.

BAC,






With Peripheral Vascular
Surgery Training.

10 years experience required.

Call 242-326-2346

















The Public is hereby advised that 1, JACKLIN ALTIDOR
of 6508 SW 27-St:-Miramar.Fl..33023, intend to change
my name to JACK JAY JOHNSON. If there are any
objections to this change of name by deed poll, you
may write such objections to the Chief Passport Officer,
P.O. Box N-742, Nassau, Bahamas, no later than thirty
(30) days after the date of the publication of this notice.







BENCHMARK (BAHAMAS) LTD.
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 31st July to
shareholders of record 16th July 2007



A global leader in audit, tax and advisory services

Vacancy for the Position:

Manager, IT Advisory Services

Key job functions and responsibilities include the ability to audit internal controls over
financial reporting performed in conjunction with financial statement audits which
must be assessed in accordance with the Public Company Accounting Oversight Board
standards. Must be able to perform information system audits as part of a financial
statement audit and identify strategic business risks, as well as analyze major business
processes to ensure appropriate controls are in place. Ability to test key controls and
evaluate design and operational effectiveness.
reviews inclusive of IT strategy and risk management and information security.

Must also perform due diligence IT

Successful candidate must have a Bachelors Degree and at least five years experience
in IT audit or information risk management.
Auditor (CISA) designation would be a plus.

The Certified Information Systems

KPMG offers a competitive compensation and benefits package inclusive of medical
and pension plans.

Applicants should submit a cover letter, resume, a copy of their degree and professional certifications and a
copy of their transcripts to: KPMG, Human Resources Manager, P.O. Box N123, Nassau, Bahamas or

acash@kpmg.com

AUDIT = TAX. # ADVISORY

@ 2007 KPMG, a Bahamian partnership, and a member firm of the KPMG network of independent member firms affiliated
with KPMG International, a Swiss cooperative. All rights reserved.

\
y


PAGE 8B, TUESDAY, JUNE 26, 2007



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a asc an
Realtors in call for |

THE TRIBUNE |.’

=> = a

regular appraisals

ealtors have warned

Bahamian home-

owners to regularly

reappraise their
property’s value, as they could
suffer financial damage if it is
undervalued when a major hur-
ricane or fire-related insurance
claim is filed.

“Lots in areas like Nassau
East, Seabreeze and Sans Souci
have increased in value more in
one year than in the past several
years combined,” said Rachel
Pinder of Island Living Real
Estate. “Land is so scarce in the
east that land values are increas-
ing because there just is not
much left.”

A lot in Seabreeze that was
valued at $75,000-$80,000 a year
ago is now commanding $95,000-
$100,000, said Ms Pinder, a
BREA-licensed appraiser as
well as real estate sales and leas-
ing broker.

While vacant land has
increased due to scarcity, prop-
erty in gated communities con-
tinues to appreciate in value.

“Most people know the Blue
Book value of their car; they can
tell you almost to the dollar what
it is worth. If they have a boat,
they can tell you what that’s
worth,” said appraiser Anthony
Wells, also with Island Living
Real Estate.

“But so often people will have
an appraisal done on their home
before they purchase it to qual-
ify for a mortgage, file it away
and that’s it. Five years, even 10
years go by and they don’t know
the value of what is likely their
most significant investment.”

The consequences can hurt in
the pocketbook, said Mr Wells,
if a major insurance claim is filed
for hurricane, fire or other dam-
age and the home was under-
valued.

There are three basic
appraisal methods. “Compara-
ble sales approach generally
gives you the best idea of market
value,” said Mr Wells, “whereas
cost approach is best for advising
what it would cost to build or
replace your residence.” The
income approach is used for
income-producing property.

The Partners and Staff of Ernst & Young
toasts and congratulates
Hubert A. Chipman
on his appointment as Country Managing Partner
, of Ernst & Young, Bahamas

We wish you every success!

ey.com





TC ME PM a TR tee rnd SW 0 Le ot oe

(



@ ISLAND Living Real Estate’s Anthony Wells (left), and
Rachel Pinder urge homeowners to get regular appraisals on
their property for insurance and other purposes.

(Photo by Roland Rose for DP&A):

Lending institutions require
appraisals prior to granting
mortgages.

“An appraisal is simply an
objective or unbiased estimate
by a trained professional as to
what your home or lot will bring
in the current market if you

- decide to sell it, or what you as a

buyer can expect to pay if you
are planning to purchase,” says
Ms Pinder.

Location is the number one
factor influencing value. “Neigh-
bourhoods are organic, con-
stantly changing, and if you have
been living there a while, you
may have become immune to
changes as slight as increased
traffic that could cause a decline
in property value. It’s critically
important for the appraiser to
keep abreast of planned devel-
opments nearby, road changes,
expansion or withdrawal of ade-
quate public services and utili-
ties,” Ms Pinder added.

In addition to location,
appraisers look at the structure —
square footage and type of con-
struction, condition and age of
roof. Then there are the differ-

“



ences between what drives prices’
up or down on similarly-sized .
homes in the same neighbour- ‘
hood. Does one have a swim-*
ming pool? A garage instead of,
a'carport? Hardwood or ceram-'
ic tile floor instead of carpet?”
Hurricane-proof windows
instead of hurricane shutters? -
Central air conditioning instead ,
of wall units? !
“Most owners love their’
homes so they think their home.

is valued higher than it actually .

is,” says Ms Pinder. “It’s under- ‘
standable. That’s the emotional '
attachment factor. But it could, -

be costing them hundreds of dol-*" - °

lars in extra insurance premiums”
if they are carrying more cover-.
age than they need. An appraisal’ ;
at least once every five years, ~
could save them considerable : |
money. But with so many peo-"
ple, especially young. _profes-"
sionals, who want to build rather.
than buy their first home now;
vacant lots in areas where land i is
scarce are increasing in value. at

a fast rate. In that case, you-may -
want an appraisal every one to,
two years.”





el] FRNST & YOUNG

Quality In Everything We Do






June 2007

,




@ KELLY’S Hardware on Bay Street in the 60s.






Tieaeenine ob Tram reed

M@ NANCY KELLY holds an artist’s impression
of the New Look of Kelly’s, Mall at Marathon
(Photo by Roland Rose)

Tae ae 7 ae =











A

5 bina Cowart
eae hee











i KELLY’S
early ledger and
journal...a far
cry from today’s
sleek computers.
(Photo by
Roland Rose)







HB DAVID and
Nancy Kelly
explore Kelly’s
Hardware’s old
ledgers and
journals from
June, 1942, and
earlier.












(Photo by
Roland Rose)

iar - F = td

@ THE Kelly family and their wall of honours: From left, Vice Presidents
Scott, Andrew and (seated) Gregory Kelly, with President David A.C. Kelly
and Executive Vice President Nancy B. Kelly.





(Photo by Roland Rose)


PAGE 2F, TUESDAY, JUNE 26, 2007

80TH ANNIVERSARY SUPPLEMENT. -

THE TRIBUNE



A Bahamian legend

KELLY’S AT 80

m@ By P.S. NEWS/FEATURES —



Few 80-year-olds can claim to be
stronger and better looking than ever,
but Kelly’s, still a family business, is all that it
ever was...and much, much more.





BIGGER, STRONGER AND MORE BEAUTIFUL THAN EVER

Founded in March, 1927, by Charles Kenneth
Kelly as Kenneth Kelly & Co., the Bay St.
emporium soon became Kelly’s Hardware
Co., then Kelly’s Hardware Ltd, the parent
company of one of the Bahamas’ !argest and
most successful retail stores... fondly known

Trading as Kelly’s Home Centre, and lately
as Kelly’s House and Home, Kelly’s is one of
the nation’s oldest retail stores under the same
ownership and the nation’s largest retail store
with more than 60,000 square feet at the Mall
at Marathon, Nassau, plus three warehouses

Literally millions of pieces of
merchandise pass through Kelly’s ever-chang-
ing aisles each year, propelled by happy shop-
pers whose modern lifestyles depend on its
wide variety of stylish merchandise often at or
near U.S. prices, “All with Love from Kel-

as “Kelly’s.”

@ THE three Kelly brothers: Basil (now deceased, left), David and Godfrey ~

(right)

@ CAPT. Charles Kelly’s Home on Hill St., Harbour Island, where Kenneth and
Trevor grew up. Inset with photo of David’s mother and father, Kenneth and Edna

Kelly.

SS



_-



(Photo by Franklyn Ferguson)

and a pricing centre.

kK ELLY’S President and CEO, David A. C. Kelly, is

proud of the contributions his family has made to the
Bahamas through two centuries of public and retail service.
(The first Kelly in the Bahamas Legislature was James Kelly
who represented Eleuthera in 1794.

‘The latest were; Their uncle C. Trevor Kelly, CBE, MHA
for Eleuthera, Minister of Maritime Affairs; David’s brothers
Basil T. Kelly, CBE, MHA 1962-1968 for Crooked Island,
first and last Sports Commissioner of The Bahamas; God-
frey K. Kelly, CMG, Member of the House of Assembly
(MHA) 1956-1968 for Cat Island, who served as the Bahamas’
first Minister for Education and Sports.

Godfrey Kelly gives all credit for Kelly’s success to David,
saying, “Uppermost in my mind is David’s dedication to the
business. He really deserves top marks and great credit for its

ly’s. ”

success. All his life that is all he has ever wanted to do. If you
love something, you can conquer all. His wife, Nancy, has
made a tremendous contribution, too. I said to Uncle Trevor,
‘David has done remarkably well.’ He said, “Don’t forget
Nancy.’ They make a great team.”

A former Olympic sailor himself, David Kelly revels in his
family’s seafaring history. David’s grandfather, Bahamian Sea
Captain Charles Jordan Kelly of Harbour Island, retired in the
early 20th Century and moved to Nassau to start, first a grocery
business and then Kelly’s Lumber Yard, run by his sons,



‘Trevor and Charles G. E. Kelly. David’s brothers Basil and

Godfrey also sailed in the Dragon Class of the Olympics in
Japan in 1964, finishing seventh overall and winning their last
race. “I wonder how may countries ever had their Minister of
Sports and Sports Commissioner actually competing in The
Olympics?” laughs Godfrey.







NMC got its start as a division of the original Kelly’s on Bay Street 67
years ago. Since then we have followed in their footsteps by growing

Our business, providing quality products and services, and contributing
as much as we can to the Bahamian community. Congratulations to the

mangement and staff of Kelly's.

é



NMC

NASSAU MOTOR CO LTD

NASSAU MOTOR COMPANY | SHIRLEY STREET | DISTRIBUTORS FOR HONDA, CHEVROLET, CADILLAC, ACDelco PARTS
@& 328 3908 | www.nassaumotor.com




THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT

TUESDAY, JUNE 26, 2007, PAGE 3F



David A.C. Kelly: ‘wrestling
with retail’ for 56 years

D AVID Albert
Charles Kelly grew

up wrestling for survival .... as
the youngest of three extreme-
ly competitive, and very suc-
cessful brothers. David was
born in March 1932, the
youngest son of Kenneth and
Edna Kelly; born to sell, born
to win. He was not born with
the proverbial “silver spoon in
his mouth.” “More like a saw
or hammer,” says his wife Nan-
cy. “David eats, sleeps and
drinks Kelly’s. He has never
wanted to do anything else.
It’s his motivation for getting
up in the morning.”

David’s early education was
at Queens College, then locat-
ed on Charlotte Street. David
remembers being caught in the
midst of the “Burma Road”
riot as a he was going to
Queens College School then on
Charlotte Street. He went into
the Pipe of Peace to get out of
the riot.

REALLY WRESTLING

David and his brothers, Basil
and Godfrey, went away to
McDonogh School, then a Mil-
itary school, in Maryland.
While at McDonogh, David
attained the rank of Major, was
the President of his senior class
and excelled in several sports.
David and his brother, Basil,
were both Maryland State
Wrestling Champions; David
for the three years of 1948,
1950, and 1951 in weight class-
es climbing from 115 to 154
pounds. He was second in
1949 when the only match he



@ DAVID KELLY, Mestiae Sempon

lost in his years of wrestling
was to a future Olympian. He
was captain of the school’s
wrestling team; received a 4
year trophy for the sport and
the best wrestling award in
1950.



(Roast brochure)

One of David’s proudest
moments was and still is win-
ning McDonogh’s “Babe Ruth
Award” presented to two
members of the Senior Class
who “in the opinion of the
underclassmen have made the

greatest contribution to the
spirit of sportsmanship and
fairplay in all school activities
during the year.”, He wins the
same sort of admiration from
his employees, today, as the
very hands-on President of
Kelly’s Home Centre Ltd.

Always athletic, David also
played Lacrosse for two years
and managed the McDonogh
football team for two years.
David represented the
Bahamas in two Olympics in
Yachting, in 1968 in Mexico
and 1972, in Germany in the
Dragon Class; in the Star Class
World Champions in Cuba in
1955 and 1957 and in Rio de
Janciro in 1960, the Snipe
World Championships in Porto
Allegre, Brazil in 1959, and in
the Pan American Games in
Winnipeg in 1967 and the 5.5
meter World Championships in
Naples, Italy in 1965. He was
past Commodore of the Royal
Nassau Sailing Club for the
years 1969 and 1970, and is a
life long member of the Nas-
sau Yacht Club. In 1988, David
was inducted into the
McDonogh School Hall of
Fame.

After graduating from
McDonogh, David came home
to work at Kelly’s Hardware,
at age 19 in 1951. He has been
“Wrestling with Retail” ever
since, for 56 very energetic
years.

Unfortunately, David’s
father died in December 1952,
leaving young David and his
brother, Basil to deal with the
nuts and bolts of the family
business. Brother Godfrey

Nancy Kelly: A brainy beauty
with the golden touch

Nec Kelly combines beauty,
brains and character in an unusually
dynamic package.

You see her reflection all over Kelly’s Home
Centre at the Mall at Marathon...and in the
eyes of the joyful children who think Kelly’s is
Santa’s very own workshop.

Nancy Kelly has been a major influence in
the success story of Kelly's Home Centre. Her
vision and determination helped a small hard-
ware store become one of the largest and most
successful retail businesses in the Bahamas.
Her foresight, enthusiasm, creativity, an innate
sensitivity and an uncanny ability to “know
what the customer wants” have made Kel-
ly’s a household name and a viable alternative

to shopping in Miami. Nancy credits her buying |

savvy to her early love of shopping. “I loved to
shop until I dropped, every Saturday with my
mother.

Nancy created the ever popular “Kelly’s
Bridal Registry” shortly after the opening of the
Mall store. Two years later, she, along with
the help of PS Advertising started the very
successful “Bride of the Year” promotions
which is now in its 16th year.

Nancy’s taste is evident in the design and
merchandising of the store, the wide range of
major brand names added to the China, Linen,

Housewares, Stationery, Toy and Baby Depart-,

ments. The merchandising of stock and even
the uniforms worn by the staff of some 300
were influenced by Nancy.

As Executive Vice President of Kelly’s, she

has played a leading role in the implementation
of an impressive employee benefits package
including Medical and Dental Insurance, a
company-wide contributory and company-
matched Pension Plan, profit sharing, bonuses
and special recognition of employees. “We’re
good to our employees, and they are good to
us,” she says.

Nancy has the courage to lead the charge
into the future for her company and communi-
ty. She explains, “ I’ve always believed we
could do it. I know that with energy and vision,
if you put your all into it, you can accomplish
almost anything...especially with an incredible,
dedicated team of employees.”

June 26-July 2, 2007, Kelly’s begins its cele-
bration of its 80th Year of Business with many
specials promotions. Nancy along with Kelly’s
management team has been instrumental in
giving Kelly’s a new look and image. “You do
have to spend money to make money...

You must keep the creative edge by intro-
ducing new products and ideas before your
competition. Never be scared of trying out a
new way of doing business.

Also in June, Mrs. Kelly added to her collec-
tion, the “Gold Medal Business Award from
the CEO Network during the organization’s
11th Annual Conference in Nassau. The CEO
network singled Nancy out for “exemplary
leadership in business worthy of special recog-
nition.”

In the last few years, Nancy has had a little
less to do with the day-to-day running of the
store, although she still goes to a full slate of
buying trips to Trade Shows and Merchandise
Marts all over the States and Europe. You can
still find her tweaking any display she is near in
Kelly’s more and more varied departments.

She also remains very active in civic and
charitable events. In 1965, she co-founded
with Peggy Jones, the Princess Margarct’s Vol-







@ NANCY KELLY
(Photo by Roland Rose)

unteer Association, better known as the “Yel-
low Birds.” At Kelly’s, David and Nancy Kel-
ly have a donations committee which manages
the company’s many, many donations made
to various Bahamian charities, civic and cultur-
al organizations. ‘

Nancy feels that giving back is a “part of
Christianity” and her community responsibili-
ty. Her father, a prominent New Jersey lawyer
and philanthropist, taught her the importance
of community service. As a young child, she col-
lected newspapers and tinfoil as well as knitting
squares for the Red Cross to help in the war
effort. By the time, she was 12- years old, she
was a Candy Striper volunteer in the local hos-
pital. Later when living in New York City she
was an evening volunteer at Sloan Kettering
Hospital.

Nancy feels that she has” been very fortunate
and has a responsibility to help others.” She
believes that a good education is fundamental
to an individual’s success and happiness. Edu-
cation is so very important to her that she took
on the fund raising challenge as Co-Chairman
of the College of the Bahamas Scholarship
Endowment Fund, under the umbrella of the
Lyford Cay Foundation, to raise $5 Million for
undergraduate student scholarships. This suc-
cessful $5M drive today enables many students
who lacked the funds to attend COB. She has
also served on the Lyford Cay Foundations’
Gifts and Grants Committee and still is an
active member of the Foundation.

For many years she has been an active mem-
ber of the Governor General’s Youth Award
Board of Trustees and has been an active Fund

Raiser for GGYA. In the past, she was a
member and then the head of the Crime Pre-
vention Committee of the Bahamas Chamber
of Commerce. Out of this committee, the
Crime Prevention Foundation was established
and she served as their first president. She
served for several years on The National Child
Protection Council under the Ministry of Social
Services and Community Development and
for three terms on the Financial Services Con-
sultative Forum.

Nancy headed up part of Rotary’s auction
“Imagine” in 2000 and 2001 to raise monies
for scholarships at the College of the Bahamas.

In 2004, Nancy and Kelly’s headed a Toy
Drive for the Children of the Hurricane disas-
ter families in Freeport, the Abacos and other
out islands and also helped Lady Pindling raise
money for the Hurricane disaster families with
a Soup Lunch. ,

In 2002, Nancy received the Business Person
of the Year Award from the Bahamas Cham-
ber of Commerce. She alsq received a Rotary
International Paul Harris Award in recogni-
tion for her community volunteer services. In
the year 2000, the Zonta Club of New Provi-
dence bestowed on her a Living Legends award
for “Women who Molded the Modern
Bahamas”. In 2004, she received an Outstand-
ing Service Award from the Theta Epsilon
Zeta Chapter, Zeta Phi Beta Sorority, Inc., in
2007 the Governor-General’ Youth Award for
15 years of Dedicated Service.

Nancy is a cum laude graduate of Smith Col-
lege, Northampton, Ma where she obtained
an honors degree in Economics and Interna-
tional Business and is just a few credits away
from a Master’s of Education Deeree in Read-
ing and Learning Disabilities. She was the first
participant to receive a certificate of Successful
Completion from the Servistar Retail Univer-
sity.

In 1986 she received a certificate for the
completion of the Advanced Management Pro-
gramme, School of Business, University of
Miami. She spent a year at the University of

~ Geneva, and the Institute of Higher learning in

Geneva, Switzerland, as an exchange student.

In 1963, she married her husband, David,
and moved to the Bahamas. In 1959, they
met in Nassau when Nancy was visiting a for-
mer college roommate on a vacation from her
work in New York.

Her business career includes being the Assis-
tant Personnel Manager, Revlon Corp., the
New York Office Manager of Beautiful Bryans
Hosiery Corp., an executive assistant at War-
wick and Legler Advertising Corp. and a year
at J. Handy Associates as an executive
recruiter. Although she helped her husband at
Kelly’s during the busy Christmas season, she
did not join the Kelly work force full time until
1978... and the rest is history.

Nancy and David have three grown sons,
Andrew, Greg and Scott who also work in
Management capacities at Kelly's, and four
grandchildren.

She attends Christ Church Cathedral and is
on their alter Guild. She is a member of the
Bahamas Women’s Forum, The Nassau Gar-
den Club, and the Nassau Book Club.

Among her hobbies and favorite pastimes
are traveling, growing orchids, golf, reading,

_ and exercising.

She is also the Deputy Chairperson of the
Lyford Cay Club and Chairman of their Sum-
mer Committee.

i NANCY and David Kell

returned from Cambridge
Law School to practice. Both
Basil and Godfrey were
involved in Bahamian politics.
Both served in the House of
Assembly and in ministerial
positions.

David and Basil incorporat-
ed Nassau Motors Company
Ltd. in 1964 and moved the
company to its present Shirley
St. site, having moved Standard
and Triumph cars out of the
Kelly’s Hardware windows.
Nassau Motor Company is one
of the oldest car companies in
the Bahamas, selling Honda
Cars and General Motor Cars.
David is President of this thriv-
ing company.

David still found time in
1959 to meet his future bride,
Nancy Booth, chase her around
the world and marry her in
March 1963. Their three sons,
Andrew, Gregory and Scott, all
joined the staff of Kelly’s
Home Centre by 1990; the
third generation of Kelly’s run-
ning Kelly’s, one of the
Bahamas biggest and most suc-.
cessful retail stores, and per-
haps the nation’s oldest retail
store under the same family’s
ownership.

Throughout the expansions
at Kelly’s and Nassau Motors,
(see History), David was the
steady presence, the deep, gruff
voice of experience and com-
mon sense. He began Kelly’s
move toward international
marketing in the carly 1970s
when the company became
owner members in the Ameri-
can Hardware cooperative, lat-
er known as ServiStar.

Nancy Kelly joined David at -

the store full time in 1978,
helping to mold the stylish new
look of Kelly's Home Centre.
It opened as the anchor for the
Mall at Marathon, just four
days before Christmas, and one
of only two stores open. It was
a bold business move ...Off
Bay Street. (The Bay Street
Kelly’s actually stayed open
until 1990. The Kelly’s man-
aged to combine two branches
into one mega-store, with no
employee becoming redundant.

“The way that Kelly’s con-
ducts its business is essentially
a reflection of David’s way of
looking ‘at life.

“He wants the business to be
a great success, but not by cut-
ting corners or being unfair to
people, whether it’s to vendors,
employees or customers. Peo-
ple respect that sort of attitude
and respond very positively to
it,” says Kelly’s Controller,
Barry Packington.

The latest techniques in
accounting and merchandising
helped the Kelly’s gain their
objective of offering a wide
selection of quality merchan-
dise at reasonable prices. It
was all presented. “With Love
from Kelly’s,” in a consistent,
cost effective marketing pro-
gramme.

The walls of Kelly’s corpo-

~ rate offices sparkle with inter-

national sales awards...and
“Thank you” plaques from all
over The Bahamas.

As Barry Packington says,
“Underneath the sometimes
gruff exterior of David Kelly
beats a big, warm heart.” Very
recently David personal gave
$50,000 to the Cancer Caring
Centre and challenged other



(Photo by Roland Rose)

businesses and individuals to
match it. Then he gave anoth-
er $50,000; $80,000 to COB
Endowment Drive for student
scholarships. It goes on and on.
Under David’s lead, Kelly’s
and his family give over and
over again to their staff, cus-
tomers and nation. Each year
Kelly’s runs an advertisement
featuring just some of it dona-
tions, nearly 200 in one year,
not counting the raffle gifts and
programmed ads sponsored
through out the year. ‘David
comments, “We hope it will
inspire other businesses to give
too.”

Kelly’s more than 300
employees enjoy one of the
best benefits plans in the coun-
try. Kelly’s is one of the few
Bahamian companies to offer
profit sharing. Human
Resources Manager Judith
Adderley calls it, “The Giving
Spirit of the Owners of Kelly’s.
She explains, “They are very
giving set of people and in their
giving, things come back to
them may fold.

She notes that “When the
minimum wage became law in
The Bahamas, only one Kelly’s
employee’s earning had to be
adjusted:” ,

David Kelly is in many
regards, Father Christmas to
Bahamian children, not just for
the wide selection of toys and
the spectacular Fantasy Forest
he imported to bring a Winter
Wonderland to the tropics, but
the exciting tradition of Kel-
ly’s Toyland Opening.

Year after year, it is the start
of the Christmas Season here,
complete with free balloons,
candy and photos with Santa
and Snowbear.

David, Nancy and Kelly’s
staff also host Christmas par-
ties and gifts for scores of
under privileged children each



Although David Kelly still is
hands-on at Kelly’s almost
every day, including many hol-
idays, he also takes some time
off to travel with family and
friends. His office walls feature
historic prints, sales awards and
photos of his pet Persian cats
(above).

Of course, at age 75, David is
still expanding his business
interests, recently tackling the
management of Kelly’s Lum-
ber Yard under the big umbrel-
la of Kelly's Home Centre’s
bustling management team.

And just you wait and see
the bright new facade of Kel-
ly's Home Centre, redesigned
to celebrate its 80th Year in
Business---David’s 56th year of
“Wrestling with Retail.”

- =e




PAGE 4F, TUESDAY, JUNE 26, 2007 THE TRIBUNE



ongratulations!

K | a (olth-Â¥)
<= y S Home
OMA LRM MS aL



‘



Kenneth wins his bride

KELLY’S STORES THROUGH THE DECADES



APT. Charles’eldest son, Ken-

neth (David’s father), was in
the liquor business briefly in the 1920s.
But, when Kenneth proposed to the
lovely Edna Frances Moore, she turned
him down...unless he stopped selling
liquor! Consequently, Kenneth opened
Kenneth Kelly & Co in 1927 and mar-
ried Edna in March, 1928. They started
out selling mostly wooden doors and
window sashes, but expanded rapidly,
obtaining exclusive rights to many other
products. Soon, their store became
known as “Kelly’s Hardware.” By the
mid -1950s it was one of the largest
stores on Bay St., where it remained
until 1990.

Godfrey Kelly confirms the legend of
Kelly’s founding, saying, “It’s a true sto-
ry. My mother would not marry my
father while he was in the liquor busi-
ness. It’s a shame my Ma didn’t leave my
Pa in the liquor business.

“He could have made more money.
But, she was brought up a strict
Methodist. .. She used to chase us down
every Sunday, capture us and put us in
scratchy Palm Beach suits for Sunday

With every
purchase you
could become °

eligiable to

TO a

By elidel
cere

eens on aa valued at $799.99 net ‘School at 3:30 p.m.”
Saturday June 30th : m KELLY’S Hardware st
ed GM See





, Congratulations

K i I. Flouse g

e y S Home

on 80 years of superb service to the
citizens of The Bahamas. |

Anchor Hocking is proud to have
been with you for all of these years!

Victoria

Cake Set

?

te
THE TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 5F



80TH ANNIVERSARY SUPPLEMENT



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@ ORIGINAL Kelly’s Store (left), and the liquor store (right), owned by David’s great uncle,
Allan Kelly, on Bay Street in the 1960s.

Edna takes charge
Wesses,

died in December, 1952,
David’s mother, Edna
Moore Kelly, became Kelly’s
President—one of the first
women in The Bahamas to
head a major business.

Their eldest son, Godfrey,
a prominent attorney anda
founder of Higgs and Kelly ,
Attorneys, became the com-
pany’s legal advisor and cor-
porate secretary.

In 1955, the central wall of
Kelly’s Hardware Ltd. (Kel-
ly’s became a limited compa-
ny in 1954.) was taken down,
expanding the Bay Street
retail space by another third.
The second storey became
offices in 1960.

This opened the way for
expansion of the China
department and the intro-
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Motor cars in

ily moved their popular car business to a site in
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Is 1940, Kenneth Kelly became the exclu-
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TUESDAY, JUNE 26, 2007, PAGE 7F

THE TRIBUNE











80TH ANNIVERSARY —






<=: TRIUMPH =

bail K i Im House g,

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THE TRIBUNE



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@ NANCY KELLY holds the artist’s impression of the remake underway on Kelly’s exterior.

Kelly’s 80th birthday celebration

66 \ N ith our 80th
Birthday coming

up, we decided it was time for a
bright new look,” says President
David Kelly, showing off an
artist’s impression of the remake
underway on Kelly’s entire exte-
rior. The official re-opening is
being planned for October, 2007.

“At Kelly’s, we take pride in
being progressive, on the cutting
edge of retailing.

“We felt those peaches and

aquas needed a new look to’

marching along the front of the
store,” says Nancy Kelly, who is
also fine-tuning Kelly’s elegant
china section (pictured below)
which has just added Lenox to
its list of fine brand names in
stock.

Celebrations for the company’s
80th year in business start June
26th —July 2, 2007, with a sale of
historic proportions, complete
with the usual Kelly’s trademarks
of clowns, face painting, balloons
and candies for the kiddies; more
substantial give-aways, and many
discounts for customers; plus

charitable donations... “All with
Love from Kelly’s.”

However, David and Nancy
Kelly and their management team
have even bigger dreams “to keep
up with the growth and needs of
the nation,” says Mrs. Kelly.

“Yes, we DO have many irons
in the fire, which... to keep our
competition guessing...we will
NOT discuss, today,” concludes
President David Kelly, a man of
few words, but lots of action in
the service of his family, company
and nation.

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THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 9F



80TH ANNIVERSARY SUPPLEMENT

Kelly’s Bridal Registry

@ By P.S. NEWS/FEATURES

K ELLY’S was founded
: to win the heart of a fair

lady back in 1927. So it’s little
wonder Kelly’s Bridal Registry is
a romantic tradition in The
Bahamas.

Every bride who registers her
china and crystal choices with
Kelly’s also becomes eligible to
be Kelly’s Bride of the month or
Bride of the Year titles with thou-
sands of dollars in beautiful
prizes.

Brides choose Kelly’s Bridal
Registry because of the wide
selection of quality products. It
is the one place you can find
everything you need for your
home.

Mrs. Lloyd-Dames reminds
future brides to register your
Bridal Gift Choices at Kelly’s
Bridal Registry 3 months befcre
your wedding if possible and
enter our famous Bride of the
Month and Bride of the Year
Promotions!

She pointed out dramatic new
patterns in top brand china and
crystal, flatware and accessories,
on display at Kelly’s Bridal Reg-
istry booth, including for the first
time the premium Lenox China
line, “Pearl Innocence” with a
delicate texture and the new
British Colonial collection “Colo-
nial Tradewinds” by Chuck Fisch-
er; the brilliant coral pattern,
“CristobalC by Raynand of
Limoge; Villeroy & Boch; flat-





@ KELLY’S 15th Annual Bride of the Year: Montane Sani
ders Sands,Named Kelly’s New Bride of the Year 2006-7

ware by Oneida and Noritake’s
“Java Blue Swirl”; Wedgwoods
“Ethereal” and from Wedg-
wood’s Vera Wang Collection,
“Champagne Duchess.”

Opulence seemed the word this
year as Kelly’s Bridal department
pulled out all the stops, layering
the booth in elegant patterns,
topped with huge vases of lilies
and orchids anchored in sea
shells.

Brides of the Month in 2007,
each receive: A $250 Kelly's Gift
Certificate; Noritake-tea service
for four; Wedgwood-“ Robert
Dawson” china collection plate; a
Waterford Crystal-bottle stopper;
Mikasa-set of dessert plates,
cheers dots 12” Vase & wine
coaster bottle stopper; Revere
Ware-covered sauce pan; Black
& Decker-quick press iron; Proc-
tor Silex-electric kettle; Creative
Bath-Vanity Tray; Rubbermaid-

folding step stool, wastebasket &
gallon container; World Kitchen,-
Pyrex smart Essentials 8 piece
mixing bowl set.

Mrs. Nancy Kelly, Executive
Vice President of Kelly’s, says
entering the Bride of the Year
and Month competition is “as
easy as registering your bridal
choices at Kelly’s!

“Just register your wedding
date and make your bridal choic-
es including china and crystal at
Kelly’s House and Home, Mall
at Marathon. We even have furni-
ture now! Your bride groom can
select tools and grills, also, from
our wide selection of the very best
products.”

Kelly’s Brides are invited to
special fun-ctions during the year
of their wedding. Kelly’s Brides of
the Month and Bride of the Year
are guests of honour at these
events. ,

pres USS ioe SOK! ee 3









HB EARLY artist’s concept for caer Kelly’s Bay Street sini























a

B y 1963 “The Nassau Guardian” was already writing, “Kelly’s Hardware Now Biggest
Household Store on Bay Street.”

At that time, Kelly’s linked two buildings to become nearly 8,000 square feet “with full emphasis
on the needs and comforts of its customers with large, airy easy-to-find displays and air-condition-

ing throughout the store.”

The 1,500 sq. ft of new retail space connected the main store and the warehouse under one roof. |



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KELLY’S

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Royal Bank of Canada branch today and speak
with a Personal Financial Services Specialist.

a
RBC

Royal Bank
RBC). of Canada

www.rbcroyalbank.com/caribbean/bahamas

MORSE LULU LA See ec intB
UMMM RN TR ECO TCC len L Amen Tee

ke
PAGE 10F, TUESDAY, JUNE 26, 2007 THE TRIBUNE
80TH. IYI =a) ake SUPPLEMENT

tongratulations! 10th anniversary
oy S ok at the Mall — no
longer just hardware

Nancy led an expanding team of frags . "Bn iN
F € e

buyers to scour the world for stylish,
quality merchandise at the best pos-
sible prices. She quips, “I just didn’t
want to be working at a hardware
store any more.”

She courted and obtained top
quality brands such as Wedgwood
China and Waterford Crystal for her
elegant new Table Top and Gift
Centre, officially opened by
Bahamas Governor General Sir
Orville Turnquest during the 10th
Anniversary Celebration of Kelly’s
Home Centre at The Mall at 4 fs ae
Marathon, in November, 1998. fH BRINGING HOME THE GOODS—The Kelly family,
(Nancy worked with artisans in Eng- Sr. Buyer Susan Glinton and this young team of buyers
land to design the entire china sec- _ make the decisions which change your lifestyle: (From left)
tion, had it all specially made in Eng- Karen Darville, Bernadette Armbrister, Taisha Lloyd,
land, shipped and installed in Nassau Lashanta Dugay and Deniro Lloyd.
in time for the opening.) ee -

By this 10th Anniversary at the
Mall, the company had quadrupled
in size and sales and managed the
ever difficult trick of lowering prices
and increasing customer satisfaction
while maintaining, profits—all in the
teeth of a stagnant global economy.

The decade following saw ever
more space moving to retail use as
the warehouse and pricing functions
become more computerized, often
as a result of Kelly’s IT Manager
David Hughes’computer and inter-

r ; net expertise. The actual pricing for
Bel ‘Boar Kelly’s Home Centre and Kelly’s
Lumber Yard moved to Kelly’s new

Pricing Centre in 2000. (This com- Hi THE Price is Right — Kelly’s Pricing Centre handles
lroni ng | K plex is so pretty many Bahamian — merchandise for Kelly’s and Kelly’s Lumber Yard. Suzie
weddings are photographed there.) | Guest, manager, is third from right.

























Door In 2001 Kelly’s also joined the
‘ gel op ab) Shi Do It Best corp., formerly HWI -
Crash er Set | yA) Ur ’ (Hardware Wholesalers Inc.), large-

ly as a result of VP Greg Kelly’s

Blue/Green :
only! - #1790-41178 efforts to obtain ever-better volume
.) ne aay eae and prices. Robert Plank came
| #4792-21185 algng from Do-It-Best to help with
oe the transition. Now he is Kelly’s
esday, June 26th, 2007 #1792-21106 Operations Manager.

With more than ¢ 6,000 square feet
of space freed from the Mall ware-
house in 2005 and available for sales
in 2006, furniture is becoming a new
department; televisions are back on
display; the linens and baby depart-
ments are much larger and more
comprehensive. Hi CLOSE up on pricing for Kelly’ S. . (Photos: Roland Rose)

| —K a i rouse 8,
elly’S ‘‘fiome

as they celebrate 80 years

of service fo The Bahamas

“While supplies last”



L AU N DR Y





e Unique Elegance and Affordable Price
° Classic and Contemporary Home Decor
e Superior Quality, Style and Service

@ Gifts for Modern and Traditional Brides
e Corporate Gifts at Any Price Point

e Business to Business - Wholesale Only

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3adash
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ee }
Est. 1945. A Tradition of Excellence. = ue - :

i
r
|

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“While supplies last”

ee os SEE SS



f
RPT VW
THE TRIBUNE

TUESDAY, JUNE 26, 2007, PAGE 11F



80TH ANNIVERSARY SUPPLEMENT

Memories are
made at Kelly’s





H GOLDEN
CHRISTMAS —
Olympic Gold
Medalist Debbie
Ferguson was the
most popular guest
to open Kelly’s Toy-
land: she’s seen here
with Nancy Kelly,
Debbie, Santa,
Snowbear and
Susan Glinton,
Kelly’s Sr. Buyer.
(Photo: PS News/
Features)

“SNOWBEAR,” another
Nancy Kelly brainchild has
been opening Kelly’s Toyland,
a Bahamian Christmas tradi-
tion, since the second Christ-
mas at the Mall. Kelly’s Christ-
mas ads still say, “Christmas
without Kelly’s would be Un-
Bearable!” Santa also arrives
at Kelly’s in creative and excit-
ing ways every year...from fire
trucks to helicopters, with the
music of Junkanoo and the
Royal Bahamas Police Force
Band, “All with love from Kel-

ly’s!” The fully animated “Fan-
tasy Forest” is Kelly’s latest gift
to Bahamian Children...the ulti-
mate Christmas experience of
Winter Wonderland complete
with dancing animals, Snow-
bear and a talking Christmas
Tree.

“Olympic Golden Girl Deb-
bie Ferguson was the most pop-
ular Christmas guest of all,” says
Mrs. Susan Glinton, Senior
Buyer and often the voice of
Kelly’s radio promotions. “She
let hundreds, maybe thousands,



of children touch her new
Olympic Gold Medal and posed
for pictures with them, Santa
and Snowbear for hours.”

The only other Kelly’s pro-
motions to come near creating
such a stir were the first appear-
ances of the Live Barbie
Princess from Mattel.

The late great Bahamian
Comedienne Viveca Watkins
was the first “Snowbear” and
also played “Hoppy Kelly” for
many Easter promotions at Kel-
ly’s.



; ry

UT]
Ried





part of your life and The Bahamas since 1927

1927 - 2007 * Nassau, Bahamas’.

DUGAN-BLISS

ASSOCIATES, INC.

@ KELLY’S
Advertising
Team—Execu-
tive Vice Presi-
dent Nancy Kel-
ly and Charlene
Storr (seated)
create the ideas
and graphics
which bring the
customers to
Kelly’s House
and Home...and
the signage
which helps
customers
locate the mer-
chandise.

(Photo:
Roland Rose)



goratu

bet fee ey, item ed

Te

Vise
gs

»)

“Con

Kelly's

ratulations!



Houses
Home

on 80 years of Quality Service

Taching, Inc., is
an experienced
importer and
wholesaler of a
large and diverse
selection of
household items.
Our ample
inventory ranges
from planters to
containers, to
everyday
household
decorative
accessories. Our
stylish designs
are generally
available in

metal, wood, and

wicker. In
addition, we also
specialize in
holiday themes.

Lgin
VG,
Sen







lations!

?

“Your friends at Dugan Bliss

in Atlanta wish you a
Happy Anniversary

and many more to come.”



b
PAGE 12F, TUESDAY, JUNE 26, 2007 THE TRIBUNE






80TH ANNIVERSARY SUPPLEMENT



caearneenetatee

We salute you on 80 years of great
service & look forward to
continued business with you.









@ THE Kelly Family in 1989 at official opening: Nancy and David’s sons joined the team one by
one. (From left) Scott, Nancy, Gregory, David, Andrew (Photo by PS News/Features)

The unthinkable — Kelly’s
expands off Bay Street

On Dec. 20th, 1988, just
four days before Christmas,
David and Nancy Kelly did
the unthinkable.

In the face of a world
recession and local depres-
sion, they took the trusted
but tired family business,
turned it upside down
and inside Out. They
EXPANDED, and on
December 20th just four
days before Christmas,
they opened as a mega-
store and anchor of the a 3
new Mall at Marathon. & SIR Lynden Pindling, Nancy Kelly, Snowbear, Lady Pindling

The 40,000 square foot and David Kelly at the opening of the new store

new Kelly’s Home Centre





Door

Crasher

One day only!
Thursday, June 28th, 2007

Sewing

Machine

35 stitch function



SINGER

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¢ 4-step buttonholer






was one of only two stores
open for Christmas, 1988,
in the very big--but mostly
empty--new complex, one
of the first “true Malls,” to
open in the Bahamas,
enclosed and air-condi-
tioned.

They didn’t lose a day of

Bahamas Prime Minister
Sir Lynden O. Pindling,
MP, presided during Kelly’s
gala official opening at The
Mall at Marathon in Nov.,
1989.

Mrs. Lynn Pyfrom
Holowesko, then President
of The Bahamas National

Ceremonies. She revealed
that her first job was as sec-
retary to David and Basil
at Kelly’s Hardware in
1953-54.

She went on to become
FNM Senator, Ambassador
for the Environment and is
now President of the
Bahamas Senate.

¢ Free-arm

¢ 3 needle positions

« Adjustable pressure

¢ Heavy duty metal frame
¢ Powerful motor



reg $139.95 net

NE supplies last”








business in the move. Trust, was the Mistress of

Applica Consumer
Products

a division of
Black & Decker Products
proudly salutes

K i" i Houses
elly'S ‘‘fiome
as they celebrate 80 years
of service to The Bahamas











4 Slice
‘Toast-R-Oven





innovation in appliance design,
development and marketing

is the hallmark of Applica e .. a ee al | 50

Applica Incorporated is a marketer and distributor of a wide | q ee ae a — | net
range of small appliances for use in and outside the home.
Through its operating subsidiary, Applica Consumer Products,
Inc., Applica markets products under licensed brand names
such as Black & Decker® , company-owned brand names such

#2170-00355

as LittermaidTM, InfrawaveTm, Belson@ and private label brand
names, primarily in North America, Latin America and the
Caribbean.

ee Bb


TUESDAY, JUNE 26, 2007, PAGE 13F

THE TRIBUNE

Congratulations!

(Aas
eC y » Home
ACME ellie [xXelaetilse Soe nar
future and congratulate you on

80 years of qualiy service!

| 30p
Dincnrare
Set §
reg $44.95

95

#1050-57471

37pc Marquee
Plus Flatware
Combo

reg $38.99

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“Pin Stipe”

reg $24.90

90

Monday July 2nd, 2007

“While supplies last”, ;



Assorted

Springs
Rugs
24"X40"
99

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THE Kelly’s opened the Wulff Rd.



branch in the late 1970s and closed it in 1989.

Big Changes

In 1965, after a Jong era of
consolidation, Kelly’s began
its expansion programme with
the opening of a branch in the
Out Island Traders Building,
East Bay St. Branches also
opened near' Kelly’s Lumber
on East St. in Nassau; in
Marsh Harbor, Abaco, Salt
Pond, Long Island and, in the
late 1970s on Wulff Rd., Nas-
sau.

In 1978, Basil Kelly and his
sons, Gary and Steven, left
Kelly’s Hardware to run
Bahamas Iron and Steel Com-
pany in Nassau and Kelly’s
Freeport, now run by Basil’s
daughter, Lynn Lowe.

David Kelly remained as

President and CEO of Kelly’s .

Hardware in Nassau. Older
brother Godfrey Kelly recalls,
“Basil was great, too, but he

decided to do his own thing.

and left David to run things.
Basil even took a sabbatical
to become chairman of the
UBP. He was a moving force
in the Bahamas National
Trust.”

Kelly’s picked up buying
power and marketing exper-
tise from the American Hard-
ware Supply. Co. which
evolved into ServiStar Corpo-
ration, with whom Kelly’s
Hardware had been associated
since 1973. This was a co-

a yrels

ecu
One day only!

4 Thursday, June 28th, 2007
ey Ee

operative of dealer-owned
hardware stores, home cen-
tres and lumberyards, nearly
4,000 strong and spread across

North America. Kelly’s
became the _ leading
ServiStar store in all The
Bahamas.









EI BY THE 1960s, Kelly’s had come a long way from its original

store on Bay Street

aN ETA CS

Congratulatio

ns!

Do it Best

° 6 outlets
¢ 18” Cord

6 outlet
4 Power Strip

RS
ta

¢ On/oftf switch
¢ Built-in circuit breaker

99

#7790-07280

Woods Industries is North America’s largest
manufacturer and distributor of extension cords,
wire and lighting products. Woods continues to be
a leader at retail, marketing more than a thousand
electrical cords, lights, bulk wire, surge protectors
and multiple outlet devices under a variety of brands
names including “Woods, Woods Premier, Yellow
Jacket and Tradesman”.


PAGE 14F, TUESDAY, JUNE 26, 2007

THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT



Kelly’s Controller
Barry Packington -
‘The problem solver’



“During the whole time I have been at
Kelly’s, the company has been expanding,
and we have constantly had to look at the way
we do things to make sure that they aren’t
getting inefficient and obsolete. It’s what has
made the job so exciting and fulfilling,” says
Kelly’s Controller Barry Packington. He
joined the company in 1989, just after it
opened as “Kelly's Home Centre,” the huge
anchor store for the Mall at Marathon.

He recalls, “In the early days there were a
lot fewer employees and we all had to do a lot
more jobs. I used to do the Human
Resources, run the computer systems and do
some software development as well as man-
age the accounts. I am very glad that we now
have specialised and highly competent people
to handle those areas.”

He continues, “At peak times Senior
Management used to have to take their turns
on the cash registers, or act as security offi-
cers, or drive forklifts as President David
Kelly has done — whatever was needed at that
particular time.”

He adds, “I have a great respect for David
Kelly personally. The way that the company
conducts its business is essentially a reflection
of his way of looking at life. He’s as honest as
the day is long and his word is his bond. He
wants the business to be a great success, but
not by cutting corners, or being unfair to peo-
ple, whether it’s to vendors, employees or cus-
tomers. People respect that sort of attitude
and respond very positively to it.”

Considering the company’s philosophy, he
says, “One of the most exciting things about
the Kelly’s company is the way in which the
great majority of the more than 300 people
who work here have ‘bought into’ the compa-
ny, and have fully embraced the company’s
philosophy. They don’t just have jobs here,
they have careers.”

Godfrey Kelly, CMG, calls Mr. Packington,
“The problem solver.”

Barry Packington’s problem solving skills
are many and legendary, at all levels of the
company’s operation. During the countdown
to the 1989 Grand Opening for Kelly’s at the
Mall, the main computer crashed at the
company’s Public Relations firm, PS.
Advertising and PR. There was no new or
spare Mac hard drive available on New
Providence at the time and no time for a trip
to Miami. Barry Packington called a friend
and found a used Mac drive, one of the
biggest known at the time. PS. bought it at a
good price and Barry had solved problems
all round...yet again.

Surrounded by computer screens, Kelly’s
Controller says with a wry smile, “I can hon-
estly say that I have never been bored at
Kelly’s. — There are always new things to do —
new systems to develop.”

New problems to solve.

Yvonne Darville

— 32 years of
service at Kelly’s

Yvonne Darville, one of the longest serv-
ing employees at Kelly’s, is an excellent
example of what commitment, dedication,
hard work and loyalty are. And she has
worked hard to set the bar for those who
would follow in her footsteps.

For over 32 years she has embraced the
ideology of a company that places people
first and sought to carve out a niche for her-
self as a shining star - that is an individual
whose commitment to getting the job done
right is undeniable and whose love for the
work at hand has kept her motivated, satis-
fied and content.

A cashier by profession, Ms Darville has
evolved into an ambassador of sorts for
Kelly’s. In an era where companies are
faced with high employee turnover and
employee dissatisfaction, her constant pres-
ence for over three decades is evidence of
the environment within which she operates.

_ In her own words, Ms Darville says that

Kelly’s is a “great company”.

Described as very down to earth and with
an easy going personality, Ms Darville, a
single mother of four grown children, said
that one of the things that contributed to
her being employed at Kelly’s for so long is
the fact that the stress of moving from one
job to the next was not something that she
wanted to introduce into her life.

“I did not want to be moving up and
down from one job to the next," she said.

So what exactly does she love about
working with the same people every day?
Ms Darville said that it’s all about the
atmosphere and meeting people.

"I am a very nice person and I enjoy
meeting people," she said.

So the next time you visit Kelly’s ask for
Ms Darville, and take a minute to see what
a star employee looks like.









@ CASHIERS—Getting it right! (3rd from left)Elsie Knowles, (2nd from

right) Eldica Gittens head cashier



@ CASHIERS galore - getting it right! Second from left Yvonne Darville, 30-year plus

employee



@ BRIDAL and gift consultants — helping you choose professionally. (Not pictured)
Patrice Lloyd Dames, area manager, (far left) Gwen Bayles, department head

=e



@ LINENS and window coverings staff - making it up for you. (Far right)Linda Moise,

department head



oO KELLY’S padie Centre — third from
right Suzie Guest, Warehouse Manager
(Photo by Roland Rose)










M@ STORE managers and security - Keeping you serene and safe. (Back
row 3rd from left) Darnley Sealy, store manager, (2nd from right)
Shirley Paul, store manager, (back row left)Andrew Ganteaume, chief

of security, (not pictured) Denise Cox, store manager



@ OFFICE Staff—Getting the merchandise to customers.
(Tribune photo) _\eft, warehouse supervisor Gregory Mackey, second from right, asst.

(Tribune photo)





@ OFFICE staff, buyers, inventor
scenes. David Hughes, IT Manag:
ager, far left. (Photo: Roland R

@ WAREHOUSE staff - climbing the heights for you. Second from

warehouse supervisor Johnathan Gibson. (Photo: Roland Rose)

FS cas RIOT





a WAREHOUSE and delivery staff - getting it out to you. . Ethelyn Wong, delivery = I
supervisor, fourth from right. . - he



(Kelly’s Photo)

(Photo: Roland Rose)



@ THE Kelly family — from left: Andrew Kelly, Gregory Kelly, Nangj, Ke

(Photo: Roland Rose)





E z sa ee : A wa etl
i THE buying team - (left to right) Karen Darville, Bernadette
Armbrister, Taisha Lloyd, Lashanta Dugay, Deniro Lloyd

(Photo: Roland Rose)



@ OFFICE and human resources staff - administering and control-
ling the situation. (Far right)Elaine Malone, 25-year plus employee,
human resources manager Judith Adderley, second from right;

Renea Bodie, office manager, far left. (Photo: Roland Rose)





BHC

areal
HB WAREHOUSE, delivery, paint, electrical and hardware staff centri

ae
THE TRIBUNE ;

TUESDAY, JUNE 26, 2007, PAGE 15F





80TH ANNIVERSARY SUPPLEMENT -









ygontrol, advertising - working behind the
n far right; Phillip Sughrue, project man-
os




\

MORE cashiers - getting it right! Fourt
head cashier

uw KELLY’S Baby Department - Pampering your babies. Second from left h from left, Deborah McKenzie,

«orline Major, department head
is. ‘ (Photo: Roland Rose)




(Tribune Photo)




n ~ ey E Ps et
@ PAINT and plumbing, electrical departments - brightening our lives. Paint departme
head Jerome Cartwright, back row second from right; electrical department head
Terrance Paul, back row third from right; not pictured Hubert Williams, area manager
plumbing. (Photo: Roland Rose)

po

nt










B@ HARDWARE & tools - making it easy to do it yourself. Department heads Anthony
Maycock (second from left) and Muriel Scavella (centre)



(Photo: Roland Rose)



yUSEWARES department - helping your house be a home. Area man-
{uetoya Smith, second from right; department head Patrice Fox, centre.
‘ (Photo: Roland Rose)






@ LAWN & garden, home decor — Growing beauty, indoors and out. Area manager
Petrona Adderley, far right. (Photo: Roland Rose)





M@ MANAGEMENT team - this energetic team of managers make it all possible at

Kelly’s Home Centre Ltd. Seated from left human resources manager Judith

ud cans Adderley, senior buyer Susan Glinton, store manager Shirley Paul; back row from
: . ; _— ee left controller Barry Packington, IT

ME decor — department head Dionne Rahming, far left; Bridal - manager David Hughes, store manager Darnley Sealy, warehouse

nanager Patrice Dames, sixth from left; head cashier Eldica Gittens, manager Gregory Mackey, store manager Daniel Culmer, operations manager

oars” Robert Plank, vice president Greg Kelly

wee: iti

b { i







&



Taking care of
Kelly's personnel





lM KELLY’S Human Resources Manager
Judith Adderley at work (Photo by
Roland Rose)

From a staff of less than 50 in 1988,
Kélly’s now employs more than 350, plus
scores of students during the summer and
holiday seasons. Kelly’s is one of the few
businesses in The Bahamas to offer profit
sharing in addition to pensions, medical
insurance and discounts to its staff, accord-
ing to Mrs. Judith Adderley, Kelly’s
Human Resources Manager.

“We are good to our staff and they are
good to us,” beams Nancy Kelly, Executive
Vice President of Kelly’s Home Centre
Ltd.

Kelly's steadfast
employee -
Elaine Malone

IT TAKES a special type of person to
remain steadfast, consistent, content as
they move upward within the confines of
a single, structured environment - and
Elaine Malone is such a person.

Now approaching 70, Mrs Malone has,
for the last 25 years, made an important
contribution to Kelly’s Home Centre in
rendering outstanding service as the com-
pany’s vault manager.

Mrs Malone first came to Kelly’s as a



. fresh-face teenager newly graduated from

high school and she remained with the
company for some 8 years before getting
married. It was when she became preg-
nant with the first of the couple’s two
daughters that she decided that her role
as mother and wife was even more impor-
tant than the work that she was then
doing.

As fate would have it however, her rela-
tionship with Kelly’s would be renewed.
She would again come to be associated
with the company when, in 1982, after her
husband fell ill, her neighbour, who was a
manager at Kelly’s Bay Street location,
set up a job interview for her.

“David Kelly interviewed me and I got
the job. I got the job as a cashier and then
they moved me up into the office after-
wards. I was transferred from Bay Street
to the Mall in 1988 and for a while I would
go to Bay Street in the mornings and
come here in the afternoons until they
closed the Bay Street store [in 1990].”

As vault manager, Ms Malone works
closely with the cashiers. She is responsi-
ble for counting the money and ensuring
that all is in order and getting the deposits
ready to send to the bank.

“T enjoy it all. I have hectic days, I have
good days, but on the whole I enjoy it. I
like working for Mr Kelly and his family,”
she said. :

At a time when most people are retired
and spending their days doing little except

_ relaxing, Mrs Malone said that she enjoys

coming in to work every day. It seems to
be the one constant in a world of change.

“I come to work and from work home.
I enjoy what I do, I’m busy and I like that.

“I intend to work here as long as I am
able to. I won't come if I am not capable
of doing the job, I come because I want to
get out and come to work. I am 70 years
old, I have my church, I go out to dinner
with my family and my daughters.”

For a quarter of century Mrs Malone
has been a part of Kelly’s. And in recent
years she has seen significant changes.
She said that the business has grown
tremendously from its days on Bay Street.
Kelly’s has more staff members - more
than 359 - and the business itself has also
seen substantial development.

“It’s busier now generally,” she said.
“Of course periods like the Christmas
holidays are always busy, but even in nor-
mal periods the store still buzzes with cus-
tomers, and Saturdays - the crowd is at its
biggest.”

Looking to the next generation of
Kelly’s employees, Mrs Malone said that
she would encourage them to always do
the right thing and to do their job to the
best of their ability.

“We have a lot of staff in different
departments and I would just advise them
to try to do their job as best as they can to
please the company.”

Would she do it all again if given the
chance?

With all that she has experienced day in
and day out at Kelly’s, dealing with the
many different personalities and having
such a huge responsibility, Mrs Malone
said yes, she would do it all over again -
Kelly’s will always be her first, last and
only choice.


PAGE 16F, TUESDAY, JUNE 26, 2007

THE TRIBUNE

80TH ANNIVERSARY SUPPLEMENT








Reg $54.95 nei

p95

net
#2005-66347




“While supplies last”



ongratulations!
Kelly's “fiom
on SOyears as the

he ‘Bahamas, serving
the ‘Bahamian people:






* 7 retailer in —

There are thousands of brands in the world,
but only a few that project the image and
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For over a hundred years,
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inventiveness, and reliability.

We continually provide cutting edge
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THE TRIBUNE



WARNS eS

TUESDAY, JUNE 26, 2007, PAGE 17F

80TH ANNIVERSARY SUPPLEMENT - .



Congratulations:

| Kelly must,

on 80 years of service

Saturday, JUNE 30th, 2007
Limit Five Gallons per customer
“While supplies last”

Net Item

_trugvaluepaint.¢c





hopregergec eres




PAGE 18F, TUESDAY, JUNE 26, 2007

THE TRIBUNE



Congratulations!
Btitht-

Gia ee ees

on 80 years of Quality Service



Getting

80TH ANNIVERSARY SUPPLEMENT

ready for



the 20th Century

VICE PRESIDENT Barry

Packington joined Kelly’s as
Controller i in 1989. His account-
ing and management skills
brought new, fully-integrated
computerized systems, allowing
improved inventory control and
better purchasing, leading to
lower prices and quicker check-
out lines for customers. As
Godfrey Kelly observes, “Barry
is the problem solver. He has a
lot to do with the great success
of Kelly’s.”

An ever wider selection of
quality merchandise at reason-
a
consistent marketing pro-
eramme—moved quickly
through multiple check-out
points including the latest bar-
code scanners at Kelly’s many
check-out counters.

In 1993, Kelly’s again expand-
ed, adding 20,000 square feet
without interrupting the flow of
trade. A further addition of
2,800 sq. ft in 1997 expanded
the outdoor living department.







@ ‘THE Problem Solver’ — Vice President Barry Packington,

Kelly’s Controller.

Kelly’s new merchandising
and marketing methods
employed the international
expertise of ServiStar Corpora-
tion, later merged to form the
TruServe Corporation, making
Kelly’s a partner in the 10,000

(Photo: Roland Rose)

member cooperative around the
globe. Paul Pentz, the president
and CEO of Tru -Serve Corp.
was among the international
business elite attending Kelly’s
Home Centre’s 10th Anniver- ©
sary Celebrations.



# Candile-lite's everyday line delivers the highest quaiity, best
value candles for fragrance e and home décor no matter what
your budget.

Candle-lite History

Candle-lite has long been recognized as the leader in the candle manufacturing industry.




In 1959, David Kelly met a young Amer-
ican beauty in Nassau: Nancy Marie Booth.

She was visiting a former Smith College
roommate. He pursued her halfway around
the world and in 1963 married her on
March 2-one of the key decisions affecting
not just his family but the future of retail in
The Bahamas.

Although Nancy-and Basil’s wife,
Pauia—both helped out in the busy Bay St.
Kelly’s Hardware Store at Christmas, both
were busy raising their children and doing
charity work. Nancy did not join the Kelly’s
team full time until 1978.

We proudly celebrate 160 years of continuous candle making. Our history is as interesting
as the depth and breadth of our current candle product line.

Candle-lite's roots go back to the year 1840 when an English settler by the name of Thomas
Emery traveled door to door selling candles and numerous other household items.

His venture continued to grow and eventually, his son Thomas Jr. and his wife Mary furthered
the expansion by moving the candle manufacturing facility to the Cincinnati, Ohio suburb of
Mariemont.

The company was known then as "The Emery Candle Division of Emery Industries."

i NANCY and David Kelly honeymooned around
the world after their wedding in 1963 if

House g Congratulations! . 4
Home Houseg
Kelly’s Home

We salute you on 80 years of great service
to the Bahamian people S wish you

every success in the future.

Kelly's
We congratulate you on

80 years of superb business &
quality customer service to the

Islands of The Bahamas!



Git bt :
cca 7 \,|
Rens re Naot WL eat

Friday

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9

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et


THE TRIBUNE

,



TUESDAY, JUNE 26, 2007, PAGE 19F

80TH ANNIVERSARY: SUPPLEMENT



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PAGE 20F, TUESDAY, JUNE 26, 2007



Congratulations and we wish

you every success in the near
future and continue to make
your company the
#1 Home Centre in
The Bahamas.

AB Home
Fashions Inc.

(Home Furnishing Textile Products)

BLS Homewares Inc.

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80TH ANNIVERSARY SUPPLEMENT

THE TRIBUNE





Kelly s Lumber Yard, nearly 100% different

Ik ELLY’S Lumber 1s
under new management

for the first time since it was
founded by Capt. Charles Jordan
Kelly in 1916—but, the owners
are still the same family, Kelly’s of
course. Kelly’s Home Centre Ltd.
President David Kelly has taken
the venerable lumber company
under sophisticated umbrella of
his company’s management team.

Sea Captain Charles Jordan
Kelly, David Kelly’s grandfather,
founded Kelly’s Lumber in 1916.
He was born in Harbour Island.
Capt. Charles retired from the sea
in the early 20th Century and
moved to Nassau where he cre-
ated first a grocery store...which
did not succeed, and then Kelly’s
Lumber incorporated in 1932 and
still exists, another of the coun-
try’s oldest company’s under the
same family ownership.

Danny Culmer, Kelly’s Lum-
ber’s new manager, came up
through the ranks at Kelly’s
Home Centre.

He is determined to make Kel-
ly’s Lumber run just as smoothly
as Kelly’s. “Sales are already up
about 300 percent,” he beams.

Alec Packington, Yard Manag-
er at Kelly’s Lumber, points out,
“Tt’s going well. Everything is dif-
ferent, the shop, management,
what we have in stock. Since April
last year we have remodeled the
shop, torn down half a building
and cleaned up the yard.”

Manager Danny Culmer is
working closely with Kelly’s Vice
President Greg Kelly to improve
the buying for Kelly’s Lumber.
He’s proud of Kelly’s Lumber’s

~ new solid wood cabinets and gran-

ite slab counter tops, high end
asphalt shingles...all at very com-
petitive prices. “A lot of people
just don’t have any idea what we
have here at East Street. We’re
going to change that.

“We can do an apartment
kitchen for about $1,400, a 10 by
10 kitchen for $3,400 and put an 8
ft. slab of granite in for under
$500."

While bringing new products
and merchandising techniques,
the new management team is also
proud of the 22 people they work
with at Kelly’s Lumber. “Some of
them started here when they were
13 years old and this lumber yard
is their whole life,” says Mr. Cul-
mer. He is bringing the benefits of
working for Kelly’s Home Cen-
tre to the staff at Kelly’s Lumber.

He says, “I’ve worked for Kel-
ly’s for 23 years. It’s a good com-
pany, a fair company. The benefits
are great, pensions and profit





sharing. You work hard and you
get rewarded.

“That black and white thing
does not apply. It’s not like that at
all. ’ve never had a problem in all
these years.”

He thinks a moment and adds,
“T represent so much of what Kel-
ly’s is about. I do what I have to
do and expect our employees to
do that, too. Just don’t do any-
thing wrong. I try to be firm but
fair. I try to put street smart and
book smart together as a role
model.” ;

He jokes that his inspiration is
“Keeping my pay check growing.”
Born in Grand Bahama, Mr. Cul-
mer came to Nassau to try a bank-
ing career. “But, that was going to
need six more years of school.
When I saw the options at Kel-
ly’s, I stayed.” He moved into
middle management in six months
and now runs a whole new area of
the business.

He salutes the memories of C.
Trevor Kelly, founder Charles
Jordan Kelly’s second son, and
Charles G. E. Kelly, the third son,
who ran Kelly’s Lumber Yard all
their lives.

Mr. James Daniels, a fork lift
driver for 40 years at Kelly’s Lum-
ber, says, “Trevor Kelly, he assist-
ed us who wanted to build our
houses. Charles G.E. Kelly, and
Betty Kelly Kenning, they were
my buddies. We grew up together.
They were like my mother and
father.

They treated me nice.”

Fondly .know as “Uncle
Trevor”, Trevor Kelly was an
astute businessman and politician.
He was a member of the House of
Assembly and served as Minister
for Maritime Affairs in the UBP
Government. He is locally
famous for the private “Bahamian
mortgages” he provided, making

Congratulations!

LOE







@ THE original business
licence from 1916 to start the
Lumber Yard

nesses possible over the decades.
In return, the mortgage holders
bought their building supplies
from Kelly’s Lumber & Kelly’s
Hardware.

Trevor Kelly was a distin-
guished member of Parliament
for Eleuthera for many years.

“Uncle Trevor” once reluc-
tantly turned down a loan appli-
cant saying, he was sorry, but he
had just bought a boat and didn’t
have that much spare cash handy.
The “boat” was “The Betty K.,”
named for his daughter, Mrs. Bet-
ty Kelly Kenning, and responsi-
ble for transporting a large por-
tion of the nation’s goods from
Florida to The Bahamas.

In 1965 Trevor Kelly was hand-
ed a budget of 40 million dollars
to expand and deepen the Nas-
sau Harbour to accommodate the
largest cruise liners in the world at
that time. He completed the pro-
ject 3 million dollars under budget
and three months ahead of sched-
ule.

In the process he provided the
country with an additional island
in the form of Kelly Island, now
Arawak Cay.

Yard Manager Packington
sums up Kelly’s Lumber Mission
statemeni: “We’re trying to get
our share of the lumber business.
Clean it out and make it well run.
We'd like Kelly’s Lumber Yard
to be running as smoothly as Kel-
ly’s Home Centre.

At the moment we are in need
of a new building and should have
it in 18 months.

“We sell, lumber, doors, win-
dows, everything to build a house
except concrete blocks. We also
have cement, shingles, tropical
decking, and lots more. We are
planning to bring more things in,
finding our way. It takes a year
to get a good customer history of
what people want.”

Mr. Daniels stops his forklift
and looks: around in amazement
at the NEW Kelly’s Lumber, his
realm for 40 years. He shakes
his head and says, “It’s changed
100 percent. Everytiing’s better.”

gel

Home

on 80 years of Quality Service in the
retail business, we look forward to
Rey ie) business with you!

Laundry Basket
Medium -white

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THE TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 21F



80TH ANNIVERSARY SUPPLEMENT



'

The number one newspaper
in circulation in the Bahamas








2007
MONDAY. JUNE 18,2 00!

SOth anniversary






PAGE 22F, TUESDAY, JUNE 26, 2007

THE TRIBUNE



80TH ANNIVERSARY SUPPLEMENT



‘th



THE amazing Kelly family _ ing fire and hurricane protectio

ness in Nassau for 30 years sell-









_ Insurance, too
-—for 30 years!

n Licensed General Insurance out

was even in the insurance busi- from the 1930s to 1960s, David —_ of England and eventually was
Kelly remembers. It was called — sold to Fane Solomon.

DAVID WRESTLES
WITH RETAIL
(FOR 56 YEARS)

David Kelly literally grew up in
the family business, becoming its
president on the 8th of July, 1983.
He is now is in his 56th year of
“wrestling with retail.” ;

Along with his brother, Basil--
David joined the Bay Street store
full time at age 19 in 1951, imme-
diately after his graduation from
McDonogh. (He was inducted into
the prestigious school’s Athletic
Hall of Fame in 1988 and was three
times Maryland State Wrestling
Champion, beaten only once in nis
six year wrestling career, by a
future Olympian. He also repre-
sented the Bahamas international-
ly, sailing with brother Godfrey, in
the Mexico ’68 and Germany’ 72
Olympic Games.)





8) so WRESTLING CHAMP -
: McDonogh inducted David

e : Kelly into its Athletic
: Hall of Fame in 1988.
: He was Maryland’s State
: Champion in wrestling for

three years and runner-up
one year. He has been
wrestling with retail ever

since his graduation from
a a ( e : MecDonogh in 1951 — 56
i years!

FIFTY YEARS - David Kelly, head of Kelly's at the Mall of Marathon, was "roasted" by
friends at a surprise party held at Buena Vista in 2002 to celebrate his 50 years of "wrestling —:
with retail". About 130 guests attended the party. Here Mr Kelly is seen with his wife, : B WRESTLING WITH
Nancy. ' : THE WIND--David (left)
: _. wrestled with the wind as an
Olympic sailor in
Mexico and Germany.

Fz
§





isa

x



Xy

Do it Best Corp. |

full service,
US. based,

international
\ member-owned
\ Co-op serving
4,100 home
centers in 46

countries
around

the world. —
‘ 3
‘
Corp. Board, ‘
£ service \
Â¥
\
\
\
rectors

the Board of D





International
Retailing & Distribution

i
TUESDAY, JUNE 26, 2007, PAGE 23F

THE TRIBUNE











recat

on 80 years of Quality Service in the retail |

business, we look forward to continued
business with you!

Eureka Mighty J
Mite Canister , 4

80TH ANNIVERSARY SUPPLEMENT - -



ney
One Cras only!

June 26th - July 2nd, 2007
“While supplies last”



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& De ee company
congratulates you & wish you
the best in the present
aaa aod

“Jasper Conran Chinoserie” “Shagreen Cocoa”
Wedgewood Wedgwood

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Vera Wang Vera Wang

ra








PAGE 24F, TUESDAY, JUNE 26, 2007

o
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THE TRIBUNE



THE TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 25F



Ci ANNIVERSARY Beaded SS







WEEKLY FREIGHT SERVICE
Arriving every FRIDAY into Marsh Harbour
ABACO, BAHAMAS



- Palletuzed Cargo
- Groceries
- 20’ and 40’ high cube containers.
- 20’ refrigerated containers
- Secutbox
- Building Materials
- Household Goods/ Furniture
- Cars, Trucks and Boats
-Flat Racks
and much mote.



’ ad
ee Ay

se Lntad

= ors Soya
8 NSO eS

*



d “Serving The Bahamas Since 1920!” E

AR : ’ z





ero eis7 TULATIONS TO Peanut HOUSE & mee
3 efile ITS oles ANNIVERSARY...

rs rnc see 2007 eee TT ae

ll | Reg SIZ 75net

| , 4 a }

ne 20 ns (Saturday June TUE 2007)
PAGE 26F, TUESDAY, JUNE 26, 2007 THE TRIBUNE

ongratulations!

elly’s "tioms
omallofus —
“ pe

IMPORT - EXPORT
BROKERS LTD.

a provider of full

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Sia eancerscetie eer tiineni

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THE TRIBUNE TUESDAY, JUNE 26, 2007, PAGE 27F

80TH ANNIVERSARY SUPPLEMENT |



CONGRATULATIONS

| Kelly‘ "oe



on 80 years in the Retail business
& we wish you future success!











“ . SAS SS : x ete

- Door Crasher |
One WEEK only!



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PAGE 28F, TUESDAY, JUNE 26, 2007 THE TRIBUNE



BWW sate) Gahan 10






ye. Anniversary









A part of your life and The Bahamas since 1927

Eyed OM Coe



June 26th - July 2nd, 2007 |

: yy > > y e ee
r =| ’ ' / 2 y —=
7 7 és 2 y ’ is



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37pc Marquee Plus
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3 95 ke 7

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¢> Candy, Face Painting

lots of Giveaways!
Saturday, June 30th, 2007

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Receive a
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Coffee



limit one (1) per customer








tei at Aa vw ane 7 :
th ht ALD eit dd on 5 All items in this circular are while supplies last.
pis We are not responsible for typographical errors.
“Except on rea taggea a ati h Photos shown may vary from actual products.