Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

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Source Institution:
University of Florida
Holding Location:
University of Florida
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_02931 ( sobekcm )

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Full Text
m Lhe Tribune

Che Miami Herald

HIGH 88F
BAHAMAS EDITION





LOW 76F
CLOUDY,

9 TSTORM

Volume: 103 No.183

DO Breakfast.



MONDAY, JULY 2, 2007 PRICE — 75¢





esi cc
in ‘inter-island
pillaging’ warning

Competition for best staff creates problems

TOUR Cc



Boxer pounds Colombian opponent





$3 of cocaine seized

of drugs found
off Eleuthera

@ By ALISON LOWE
Tribune Staff Reporter

COCAINE with an estimat-
ed $3 million street value was
found stashed in a sailboat off
the coast of Eleuthera by Drug
Enforcement officers Friday
evening.

According to police, the mas-
sive haul — 226 kilograms — was
made after the 42-foot vessel
was intercepted, boarded and
searched by an officer.

Two French Canadian men,
ages 57 and 61, have been
arrested in connection with the
find — which was stored in the
cabin of the boat, along with a
“srhall amount of cash,” accord-
ing to Assistant Superintendent
Walter Evans.

The men are expected to be
charged as early as today. The
drugs have been brought to the
capital for processing, he said.

It is thought that they may
have been coming from the
Dominican Republic, said Asst
Supt Evans. He could not say
where the drugs were being
sent.

Commenting on the signifi-
cance of the haul, the officer
said: “You don’t find that
amount of drugs every day.”

The successful seizure of the
drugs comes as a result of col-
laboration between Bahamian,
Canadian and US authorities.

“These things cannot be
done by us alone,” said Evans.
“There has to be a degree of
understanding and information
sharing by all agencies,” he

ec =
pe



lee Ae Si

added.

The seizure comes as AP
reports that there has been a
quadrupling of suspected drug
flights into Hispaniola, the
island which is the home to both
Haiti and the Dominican
Republic.

US, Haitian and Dominican
forces have launched operation
“Rum Punch” to counter the
surge.

However, the operation’s
success has been hindered by
corruption and restricted local
budgets, according to AP.

The Haitian police force has
only a few dozen drug agents,
and only one functioning
patrol boat — facts which Hait-
ian police chief Mario
Andresol admitted to AP are
seriously hampering their
effectiveness.

Most of the drugs that reach
the island nations are said to

‘have originated in Colombia,

flowing through Venezuela, and
then being carried “by the ton”
on ships and planes to feed the
enormous demand in Europe
and the US.

According to AP, there has
been an increase of as much as
30 tons a year in the amount of
cocaine passing through
Venezuela under President
Hugo Chavez’s rule. An esti-
mated 300 tons of the drug is
suspected to have been shipped
out of the country in 2006 —
roughly a third of global-sup-

ply. .
SEE page 12

#6021-18571

Alot. Moncton,
ne ado
PHYS







@ GRADUATES of the National Youth Service Restorative Programme Junior Life Division
march in the Passing Out Ceremony on Friday in BARC, North Andros. See page eight for more

pictures.

(Photo: BIS/Tim Aylen)

nent eee eeeeeneesenceeeeeeseneeeeses esas eneeensenehee eens ese Hee bene esses NG EAS EAESEEAERS OA ESGSAEDO BAHAMAS EEEE ESR HAD EOE EE DRED AGH REARS RAREEEEGLAEEDEOB OURS EDU EEEDEEO LEE EEDSRESOERE ESE SEESEDGEDGOLESOLES

Guana Cay campaigners slam BNT

@ By BRENT DEAN
Tribune Staff Reporter

A LOCAL environmental
group has questioned the cred-
ibility of the Bahamas Nation-

al Trust after the organisation -

endorsed the controversial
Baker’s Bay development on
Guana Cay, and accepted a
$1.2 million pledge from the



THE Bank of the Bahamas
was another generous donor to
the campaign to provide dialysis
machines for the Princess Mar-
garet Hospital.

Bank of the Bahamas donat-
ed $20,500, which will purchase

.a complete dialysis unit, includ-

ing the cost of installation, staff
training and a full year of tech-
nical support. The fund, which
opened with a goal to raise
$164,000 to purchase eight
machines, closed three weeks
later having more than doubled
its goal. The fund was closed on
Thursday with $342,915.29 in
the account.

"Bank.of The Bahamas
International is pleased to make
this contribution of $20,500 to

SEE page 12




site’s developers.

The Save Guana Cay Reef
Association (SGCR) con-
demned the BNT for its rela-
tionship with the Baker’s Bay
development in a scathing press
release yesterday.

“We realise they (the
National Trust) are a cash

‘strapped organisation and we

respect their work, but that is

PU CUT CECB EARS DUA TEU

no reason ‘to sell your soul to

the devil.’ Accepting the dona--

tion is one thing, we cannot
fault them for that, but the
gushing words of praise that
followed in the press release
from the BNT, was nothing

short of appalling,” they
claimed. —
SEE page 12





PICTURED from left to right are Dania Ferguson, the bank’s
marketing co-ordinator, Sean Moore, The Tribune’s marketing
manager, and Tameka Forbes, senior manager — business
development, PR and legal affairs at the bank

www.rbcroyalbank.com/caribbean/bahamas

Dreristered trademark of Royal Bank of Canada. * The Lon & Globe symbol and RBC are trademarks of Royal Bank of Canada

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Atlantis is
accused of
not paying
millions for
woodwork

@ By ALISON LOWE
Tribune Staff Reporter

KERZNER International
has been accused by the owner
of a family business of not pay-
ing millions owed for wood-
work done on the new Cove
tower. .

Jean-Marc Ingea, owner and
general manager at Elcir, said
he was shocked when he heard
that, after months without pay-
ment — during which his work-
men went ahead on the opulent
project “in good faith” — there
was disagreement over what his
firm is owed.

The dispute has escalated

_ since two weeks ago when the

construction management firm
PCL, contracted by Kerzner
International, hit him with back
charges to the tune of $3.5 mil-
lion for costs he claims to have
been given repeated verbal
assurances were not his respon-
sibility.

SEE page 12
Christie goes
on offensive
over Urban —
Renewal

i By BRENT DEAN

Tribune Staff Reporter

OPPOSITION Leader Perry
Christie weighed in yesterday
on the death of David Rolle on
the steps of a deserted Urban
Renewal building, stating that
no Bahamian should die
“because of a government's lack
of vision.”

The death of Mr Rolle, the
country’s 42nd murder victim,
has caused significant contro-
versy as the young man desper-
ately sought the help of Urban
Renewal officers in Nassau Vil-
lage — who were not there — in
the last moments of his life.

Mr Rolle was shot multiple
times and died in front of the
abandoned police outpost after
making a frantic call to his
mother, as no police were pre-
sent to assist him.

LEE page 12

















PAGE 2, MONDAY, JULY 2, 2007

THE TRIBUNE



LOCAL NEWS



No offers yet to buy private island
Leaf Cay from millionaire Holcomb

@ By ALISON LOWE
Tribune Staff Reporter

THERE were no bids on
Leaf Cay — the private
Bahamian island put up for
auction for $12 million by a
Florida millionaire on Thurs-
day.

The Tribune reported last
week that the lush 15-acre
island in the Exumas, designed
as a hideaway and refuge by
Jack Holcomb after being
acquired in 1986 for $225,000,
was to be sold off.

The island is home to 19
buildings, a dock, a crane, an
airstrip, fuel tanks, two cis-
terns and a desalinisation
plant.

It has electricity, provided by
cables from the mainland, gen-
erators, and solar panels — if
all else fails.

Holcomb — who has been

alleged td be a former CIA
operative — also installed a
massive amount of storage
space, including a freezer build-
ing with enough storage space
to keep a family alive for five
years.

Resources

Huge quantities of food,
including 50 25 pounds of flour,
30 five-gallon buckets of grits,
six of lima beans as well as nine
cartons of military-made ready
meals, and enough coffee to last
for an estimated 115 years is
still to be found stored away on
the island.

However, as well-equipped
as the place might be — it was
designed to provide safety in
case “everything went bad in a
hurry” according to the mil-
lionaire — no one offered the

$12 million he was looking for
when the property went under
the hammer in Fort Lauderdale
on Thursday.

Though there was interest
from the rich of 12 nations, the
island remains Holcomb’s,
according to The Miami Her-
ald.

He had hoped to sell it as his
declining health — specifically
skin cancer — which meant he
has not visited in years, and
does not fancy the idea of
spending that much time in the
hot Bahamian sun. He also
owns a $1.8 million home in Ft
Lauderdale and a 373 acre
ranch in Kentucky.

Although not going into
details, the millionaire told The
Miami Herald that he had not
given up hope.

“When things go wrong, I
always have plan B, C, D and
E,” he said.



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Customers’ an

@ By MARK HUMES



WHILE employees of the
Bank of Nova Scotia’s Thomp-
son Boulevard branch held,
what appeared to be an early
morning pep session inside,
irate customers to the branch’s
24-hour ATM machine waited
outside for about 30 minutes,
as none of the bank’s three
money machines was opera-
tional.

Shortly before 9am Thursday,
a Tribune reporter arrived at
the branch to retrieve funds
from the branch’s ATM





machine and found customers
in the foyer complaining
because they were unable to
obtain funds from the machine.

“T went to the Wulff and East
Street branch and they didn’t
have no money. I checked the
gas stations, and they don’t have
no money. This is ridiculous,”
complained one customer.

“I said if this happens again, I
was going to move my account
to Royal Bank,” said another
customer.

After a steady ten minute
flow of visibly upset customers
streamed in and out of the foy-

INSURANCE AGENTS & BROKERS

er, the location of the empty
money machines, the reporter
tried to find out from bank offi-
cials why none of the bank’s
three ATM machines was func-
tioning so near opening hours.

The reporter asked a security
officer to contact one of several
managers seen at the back of
the officer. However he made
no effort to get a manager’s
attention, and concerned cus-
tomers either left in frustration
or milled around outside until
9.20 am, when one of the bank’s
machines became operational.

“This seems to be a constant

thing with these banks around
here,” one customers said.
“These are supposed to be 24-
hour machines, and they are
constantly running out of mon-
ey, and then you have to drive
all around the island at all hours
trying to track down money. We
are paying all of these fees to
these banks and we don’t even
have easy access to our money
when we need it.”

Another observer said that
banks must realize that they put
their customers in danger when
they are forced to ride around
at different hours of the day and
night hoping to find a machine
with money in it.

When managers of the














| Share your news

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

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

Thompson Boulevard location
were approached for answers
about the extended delay in
making funds available to ATM
customers, The Tribune was
told that all questions about
ATM operations should be
addressed by the bank’s mar-
keting department of the main
branch.

When The Tribune went to
Scotia Bank’s marketing depart-
ment, one bank official tried to

contact someone in the depart- .

ment to meet with him.

Not able to contact anyone
in the department by phone, the
official went to the department
and, for close to 20 minutes,
tried to find an employee of the

ieee § ee phe z ii

er at Scotia Bank ATM service

department to address the con-
cerns.

' After an extensive search and
not being able to locate anyone,
the official gave the name of
one. person in the department
for The Tribune to.contact later
in the day.

Eventually, The Tribune was
able to speak with Debra
Woods and Andrea Myers of
Scotia’s marketing department
who apologized on behalf of the
bank. They said that after
speaking with managers at the
Thompson Boulevard branch,
they were made to understand

. that the bank was having chal-

lenges with two of its machines
during the period in question,
operational challenges that she
could not address publicly.

“It was just this morning, at,
the time that they were replen=
ishing. the machines; obviously
there was something else that
probably caused them to take
a little longer than normal,” said
Ms Myers. |

Again, after further explana-
tion, they offered apologies, on
behalf of Scotia Bank, to those
customers who experiencing
problems at the branch Thurs-
day morning.

Cis Be





THE TRIBUNE





Woman is
jailed for
marijuana
possession

A WOMAN was sent to
prison last Thursday for mari-
juana possession.

Lewchea Dickenson, 25, of
Nassau Village was charged in
April 2006 with possession of
marijuana with intent to sup-
Ply.

Dickenson stood trial for the
offence and was convicted.

Magistrate Carolita Bethel
Thursday senteficed her to two
and a half years in prison.

She was found in possession
of 31 pounds of marijuana.

Two men

are injured
while leaving
party

TWO young men ended up
in hospital this weekend after
being attacked in separate inci-
dents while leaving a party in
Jubilee Gardens.

At around lam, a 26-year old
Nassau Village resident was hit
in the head with an unknown
object by a group of men as he
exited the party. He is current-
ly in a serious condition in hos-
pital.

Later, a 27-year-old was shot
in the left leg by an unknown
male as he left the same resi-
dence. He too is now in hospi-
tal, although his wounds are not
considered life-threatening.

Yesterday, Assistant Super-
intendent Walter Evans said he
could not say whether the inci-
dents were connected, or gang-
related.

Bermuda
reports 18%
rise in tourist
arrivals |

@ PUERTO RICO
San Juan

BERMUDA on Friday
reported an 18 per cent increase
in the number of tourists flying
into the mid-Atlantic British
territory during 2007's first
quarter, attributing the boost to
an influx of visitors from the
United States, according to
Associated Press.

The increase over the same
period last year comes as sev-
eral Caribbean islands are
reporting tourism slumps.
Jamaica, the Bahamas, Barba-
dos and St Lucia have all posted
decreases in air passengers,
according to figures from the
Caribbean Tourism Organiza-
tion.

"All the people who make
our tourism product what it is
have even more reason to hold
their heads high, because this
undeniable surge in visitor num-
bers is coming at a time when
our colleagues in the Caribbean
are struggling," said Premier
Ewart Brown, who is also the
minister of tourism."

Bermuda, known for pink-
sand beaches, diving and tax-
free shopping, has been recov-
ering from a decline in tourism
in 2005 that the government
blamed on high airfares and
fears of hurricanes.

During the first quarter,
32,946 American air passengers
visited the island 640 miles east
of the US, compared with
26,732 in 2006.

of things we
think, say or do

1. ls it the TRUTH?
2.|s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org

TROPICAL
arse
ea R AIAN!
PHONE: 322-2157



@ By BRENT DEAN
Tribune Staff Reporter -

BAHAMIANS | should
expect increased visibility from
police as a result of the new
neighbourhood policing initia-
tive, it was said.

Assistant Commissioner
Marvin Dames, officer in
charge of New Providence dis-
trict, told The Tribune that a
major component of the new
programme, which was rolled
out last week, will be the zon-
ing of communities through-
out the Bahamas by police,
and the assignment of a spe-

cific complement of officers:

and vehicles to cover each of
these areas.

Mr Dames said that 300
additional officers will be reas-
signed to add to the comple-
ment of officers already in sta-
tions in order to facilitate this
remobilisation exercise.

The main thrusts of the ini-
tiative, he continued, will be
to enhance police intelligence,
along with placing special
emphasis on crime prevention
and crime fighting.

“It will be the duty of those

: . officers to get to know the peo-

ple in those zones,” he said.
Which, from an intelligence
perspective, he added, will
enhance the ability of police
to respond to any upsurge of
crime within the boundaries of
a specific community, and to
bring those involved to justice.
With more officers con-

stantly on the beat in commu-

nities, including police on bicy-



Police ‘will be
more visible’
with new policy

Officer in charge lays out plans
for neighbourhood policing

MARVIN Dames

cle patrols, Mr Dames expects
that response times of police to
be shortened, and there to be a

‘deterrent effect to the height-

ened police presence.

Mr Dames added that police
will place emphasis on mobil-
ising the community by assist-
ing in the creation of crime
watch associations.

As the officer in charge, Mr
Dames told The Tribune that a

major responsibility of his will:

be to monitor trends through-
out the island, and ensure that
the necessary resources are
quickly sent to address the spe-
cific needs of communities.

Accountability

“This initiative is not only
about setting up officers and
putting them out there. It’s all
about accountability and cer-
tainly performance measure-
ments,” he said.

The public should expect to
see reports from law enforce-
ment, as to the effectiveness
of this new scheme Mr Dames
added, as it is the public who
will be the “final judge” of
whether or not this new drive
is successful.

In the wake of the 42 homi-
cides that have already
occurred in the first five
months of this year in the
Bahamas — which sets the
country on track for a predict-
ed record of more than 80
murders — police officials will
have to demonstrate statisti-
cally that initiatives such as this
can make a real impact into
crime in the country.

As Mr Dames and other
police officials are aware, the
level of fear of crime is cur-
rently high in the community.

Bahamian police reported on
“course in southern England

@ By ALISON LOWE
Tribune Staff Reporter

BAHAMIAN police have
been pounding the streets in
the south of England, accord-
ing to the BBC.

Although no police sources
could yesterday confirm who
took part in the three-day
course in Dorset in southern
England, “police chiefs” from
this country, as well as from
Botswana, the Cayman Islands,
Bahrain, Oman and

Bangladesh were Saal fo have
been involved, according to the
organisation.

The course was intended to
teach officers the latest police
techniques. They also went on
patrol with the UK force in the
town of Weymouth.

Supt Colin Searle of the
Dorset police force said: “It's
important to continue to build
relationships with interna-
tional police forces, to con-
tinue to exchange informa-
tion."

Chief Insp Rick Dowell
said: "It was a pleasure for us
to play host to our guests
from various parts of the

-world, and to demonstrate

technology, skills and
resources of the specialist
operations departments of
Dorset Police.

"The commanders gained
considerable benefit from their
visit to the operations division
and will no doubt take a great
deal of knowledge back to
their native forces."

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PAGE 4, MONDAY, JULY 2, 2007



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

COM) ise Ds 2 ithe

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: /-(242)-352-6608

Bahamas tourism is in trouble

THE BAHAMAS’ TOURIST industry is
in deep trouble. Like the three blind men who
went off to “see” an elephant — the truth
eluding all three — no one has yet been able to
put a finger on tourism’s real troubles.

Like the blind men who touched the ele-
phant on different parts of its body — ears,
trunk, tail — each came away with a different
concept of “elephant.” Unable to see the
whole, no one was able to grasp the true pic-
ture from the parts.

It is the same with our tourism industry.
Some lay all the blame on a crumbling, ineffi-
cient and overcrowded airport. Already three
cruise lines have pulled their ships because

of a deteriorating Prince George dock. Their.

loss could have been averted if the PLP gov-
ernment had acted on warnings of what would
happen if the harbour were not dredged and
the dock upgraded — therefore, an indeci-
sive government, which kept the truth from
the public, added to an already major problem.
Others say it’s because there are not enough
places of interest to attract visitors, and that
the run-down condition of Bay Street, the
main shopping thoroughfare, is a turn off.
Also one must not forget that a large number
of rooms have been pulled from the market
because of hotel renovations on the Cable
Beach strip. Crime and attitudes are also high
on the undesirable list.

However, many analysts want to lay sole
blame on the US’s new requirement that all
Americans returning by plane from overseas
must have a passport. So far this requirement

does not apply to.the cruise industry, soit, .
was quite a blow to Bahamians to suddenly |
learn that three cruise ships were leaving for ~

more attractive ports.

Not one of these in isolation is our problem,
but all bundled together they are “The Prob-
lem.” And it is now up to the experts to find
the Alkaselzer to effect a cure.

Those who believe that most of our prob-
lems rest with the US government’s decision,
maintain that the US passport requirement
will eliminate our impulse tourist. That is the
man and woman who get up one morning to
overcast skies and falling snow flakes and say,
“Let’s head for the sunshine of the Bahamas.”
Or the Miami visitor who decides to enhance
his southern visit by hopping a plane fora
night of gambling at Nassau’s casinos.

But let’s look at the other side of the coin.
Is it, the passport, or is it the excessive airline
fare that is discouraging the impulse traveller?
For example, someone had to make an emer-
gency flight to Miami last week. He was quot-
ed a roundtrip ticket from Nassau to Miami by
American Airlines for $659 — as someone
said he could have flown from Miami to Thai-

PROTECTION








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land for $900. This passenger opted to fly to

. Fort Lauderdale by Spirit, and drive to Miami.

The roundtrip on this low fare aircraft was
$133.

American Airlines can price gouge on its
Miami route because it has no real competi-
tion, but it’s a different story on its Fort Laud-
erdale route where it has to compete with the
low fares of Spirit. American’s fares on this
route are comparable to Spirit’s. The secret?
The market forces of competition.

And yet can the low fare aircraft handle the
demand? We know what happened to Jet
Blue when it had a melt down on a runway
recently inconveniencing thousands of pas-
sengers.

Over the weekend Spirit seemed to be hav-
ing a similar problem on its Fort Laud-
erdale/Nassau route. And, of course, the
screening of baggage, probably heightened
by the terrorists scare a few days ago at Glas-
gow’s main airport in Scotland and the two
cars filled with explosive in London’s Hay-
market, made security at US airports tighter,
thus delaying take-off times.

Tomorrow we shall tell you the story. of a

party of six, who having planned their week- .

end vacation to Nassau more than a month
ago, arrived in Nassau on Saturday. Although,
they flew on the same day, they flew by Spir-
it on different flights. They all arrived without
their luggage.

A young mother, travelling alone with her

two-year-old daughter arrived at Fort Laud-.., |;

erdale airport at 1.30pm for a 4pm flight to
Nassau. Mother and baby arrived in Nassau at
6pm, having spent four and a half hours at
Fort Lauderdale airport for a 27 minute flight
to Nassau, and another hour and a half on
the Nassau side waiting in line to fill out a
form for her missing luggage — six hours in all.
As she said, she could have almost been to
London in the time she spent at two airports
just trying to spend three days in Nassau.

“It’s just not worth the hassle to come to
Nassau,” she said, looking as worn out as if she
had in fact made the tiring transatlantic cross-
ing.

Sunday was wasted trying to locate her
missing luggage, which in fact did not arrive
until Sunday afternoon. When the six mem-
bers of the party got together they had a sim-
ilar story to tell — all were fed up. And on this
end they were more than annoyed with the
lack of information that Nassau Flight Ser-
vices could give them about their luggage —
but that story is for tomorrow.

While the mother was ready to collapse, the
fretful baby girl’s only concern was for her
missing teddy bear — a question at that point
no one could answer.









THE TRIBUNE

»

Important

event for !
Eleuthera

EDITOR, The Tribune

THIS past weekend was most

significant for the beautiful —

island of Eleuthera. A milestone
in the economic development of
that island was realised. The his-
torical inaugural direct jet flight
between Atlanta (the Global
Gateway to the world) and
North Eleuthera took place. This
flight represents the only direct
international flight into North
Eleuthera from a destination
other than Florida. Not since
Pan American Airways intro-
duced direct flight service
between New York and Rock
Sound Eleuthera in the late
1960s has there been so much
excitement and anticipation on
Eleuthera. There had been oth-
er jet services into Eleuthera,
but they were basically charter
flights. What is now available is
a regular scheduled commercial
flights that anyone including
local Eleutherans can make a
reservation and travel to or from
Atlanta several days a week.
Ordinarily one would expect
each day in the Bahamas to be
filled with golden sunshine and
any humidity described as “liq-
uid sunshine”. However, cloudy
skies greeted Delta Flight 4457
that touched down at exactly
2.35pm on the afternoon of Sat-
urday, June 16, 2007. By coinci-
dence, this day is also the 44th
anniversary of the opening of
the North Eleuthera Airport
which opened on June 16, 1963.
The traditional water arch wel-
come of a new vessel entering a
new port facilitated by the North
Eleuthera Fire Department wel-
comed the flight. As if to also
welcome this new venture, for a

brief moment, the sun came out |
' and'the rain took'a recess. My

only disappointment for the
afternoon was that unlike other

ons when there were inau-
sural flights to Nassau or
Freeport, Junkanoo was not

.made a part of the welcoming

committee. I am of the humble
opinion that any promotion of
the Bahamas or Bahamian
tourism must include the nation-
al culture of the Bahamas. In the
absence of Junkanoo, the Har-
bour Island Marching Band did
make a sincere effort to fill the
void with their spectacular per-

_ formances.

The official ceremony was
brief but to the point as the air-
craft and some of the dignitaries
had to return to Atlanta. The
underlying message was simply
that Eleuthera is on the move.
Delta’s extremely enthusiastic
spokesperson for the event, Mr

- Charles Rowe emphasised the

opinion of all the other speakers.
Eleuthera has the potential to

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become Delta’s best destination.
Mr Rowe also stressed Delta’s
commitment to the Bahamas.
This was reflected by a similar
exercise that took place just an
hour earlier in George Town,
Exuma where an inaugural flight
had also landed. For the first
time in Delta’s history, a “dou-
ble-header” was performed by
having two inaugural flights on
the same day in the same coun-
try.
Other speakers for the day
included the new Junior Minister
in the Ministry of Tourism, the
Hon. Branville McCartney. He
shared his government’s plan for
the development of the Bahami-
an tourism product. Special men-
tion was made of J Allen Mal-
colm, the pioneer of the devel-
opment of the winter resident
industry in the Out Islands of
the Bahamas. Beginning in the
1950s, Allen Malcolm developed
The Pink Sands Lodge, one of
the first such developments in a
Bahamian Out Island. His com-
mitment to the nurturing of this
resort has resulted in an institu-
tion known world wide for excel-
lence and a playground for the
social elites. Clearly, this father
of the winter resident industry
must be credited with setting the
stage for Harbour Island being
the Diamond in the Crown of
the Bahamian tourism industry.
In terms of visitor satisfaction
and repeat visits, Travel and
Leisure magazine has awarded
Harbour Island with not just
being the best in the Bahamas,
but in the entire region which
includes 26 different countries
featuring 44 destinations.

The success of Allen Malcolm
with the Pink Sands in Harbour
Island encouraged others to
invest in Eleuthera’s promising
tourism industry. One such indi-
vidual was Juan Trippe, the
Chairman and co-founder of Pan
American Airways. In addition
to introducing direct flights
between New York and Rock
Sound, he also developed the
five-star resort that was the Cot-
ton Bay Club. In those days
along with the development of
other resorts such as Winder-
mere Island, home of Britain’s
Royal Family, Eleuthera became
synonymous as the destination
of. choice for the Rich and
Famous.

Unfortunately, for whatever
reason by the late 1970s, the Pan
American flights ceased. The
increase cost of fuel and opera-
tions impacted the feasibility of

these flights. The result was a
valuable lesson for those who
market the tourism industry. »
With little or no direct interna-
tional flights, most of the
Eleuthera hotels were forced to ,
close. This devastated the
Eleuthera tourism industry
which has not recovered up to .
this day. Fortunately for Har-
bour Island, the North Eleuthera -
Airport and amphibious sea- |
planes landing at “The Ramp” .
continued to feed the growing .
Harbour Island tourism market.
Even up until today, Harbour ,
Island continues to be the eco- ,
nomic breadbasket for Eleuther- ,
ans working in the tourism
industry.

The forces moving the tourism _
industry in the Bahamas is “a
chicken and egg” situation. *
Which must come first, the °
chicken or the egg? For exam-
ple, in Grand Bahama there has '
been little net growth in tourism.
The number of hotel rooms has
stagnated and a stalemate has
developed. The airlines say that
they will not add more seats |
until there are more hotel
rooms! The hotel industry says °
that they will not add more'
rooms until there are more air-
line seats. This has become a no
win cycle.

The additional. airlift that
Delta is providing to Eleuthera
simply means that there is now
more of a demand for more hotel :
rooms. With a number of'
Anchor Projects in various stages

.of development, it should be just

a matter of time before
Eleuthera returns to its former?
glory. Already, one such devel-s
opment, the Royal Island Resort»
at its Heads of Agreement sign-*
an in December 2006 request-;!

that government extend they
runway at North Eleuthera‘ 1
another 1000 feet to accommo-*
date new air traffic that is expect-*
ed. Already, the White Crown}
Jet Centre accommodates a num- +
ber of Lear Jets and other Exec-*
utive aircrafts. What is needed is *
a master plan involving all the |
stakeholders in the industry of
the future development of North
Eleuthera Airport. A Control;
Tower, a new Terminal Building § .
with a proper TSA team with!
modern security equipment ands ,
additional parking on and off the *
airfield must be given top priori- ‘
ty. For the first time in Bahamian *
history, Tourism and Aviation is,
housed under the same Ministry.
This arrangement should be per-«
fect to eliminate the “chicken and * ‘
egg” syndrome.

DR LEATENDORE
PERCENTIE
“Briland”’

June 19, 2007.

Family Islander
Package

Room+Rental Car............

Room (2 persons)

aeeneane $115.00 (per night)

$65.00 (per night) ;,

Available Sunday- Thursday
with ticket & proof of travel

Rooms with Kitchenettes, Microwaves, Refrigerators. | ,
A/C and Cable Television. Swimming Pool. Beach 300
yards away. Bus stop outside.

Orchard Hotel Village Rd.
Reservation: (242) 393-1297
Fax: (242) 394-3562
www.orchardbahamas.com/orchardbahamas@gmail.com —

Poolside Bar & Grill

with Wi-Fi Internet

GUEST SERVICES AGENTS

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Meee moe LAe

Excellent communication skills.
Typing ability or keyboard skills,
computer knowledge.

Bring resume.

Phone: 327-6032 for more information
ssmith@skybahamas.net





THE TRIBUNE

MONDAY, JULY 2, 20U0/, PAGE 5





Cuba says
1960 CIA plot
reflects current
US policy

@ HAVANA

COMMUNIST Cuba's par-
liament said Friday that a 47-
year-old plot to. assassinate
Fidel Castro still reflects the
reality of US policy toward
the island, according to Asso-
ciated Press.

CIA documents made pub-
lic this week described the
agency's recruitment of a for-
mer FBI agent in August
1960 to use mobsters and poi-
son pills to kill Castro.

“What the CIA recognises
is not old history. It is pre-
sent-day reality and the facts
show it,” stated a resolution
approved unanimously by
Cuba's National Assembly.

Acting President Raul Cas-
tro, seated next to the empty
chair of his recuperating older
brother, presided as the legis-
lature passed a declaration that
“the CIA documents reveal
part of the efforts to kill com-
rade Fidel Castro and bring
death and pain to our people.”

"The conduct of the Bush
government clearly shows its
intention to keep employing
the worst possible tactics
against Cuba."

Revelations about the CIA
plot were among hundreds of

- pages of CIA internal reports,
known as "the family jewels,"
released this week.

The documents show that
in August 1960, the CIA
recruited an ex-FBI agent to
approach mobster Johnny
Roselli to take part in a plot
against Castro, who took
power in January 1959.

The agency gave him six
poison pills, which they tried
unsuccessfully to have other
people put in Castro's food.
The plot was scrapped after
the failed ClA-sponsored Bay
of Pigs invasion of Cuba in
April 1961.










FOR 3 IN 1 LAWN SERVICE

Fertilizer, Fungicide,
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a fer Maa CAMEL ey
322-2157

) Colors

health fund is
inadequate,

Dr Bernard Nottage charged
that the government’s National
Health Fund is inadequate to
meet the Health care needs of
Bahamians, as compared to the
former government’s NHI
scheme.

Dr Nottage, leader of oppo-
sition business in the House,
addressed health care matters
at the Speaker’s Forum, held at
the Hilton last Wednesday.

The former health minister
said that “despite the fact that
NHI has gained the support of
the vast majority of Bahami-
ans,” the FNM government,
which in opposition voted for
NHI legislation, has abandoned
the scheme in favour of a
National Health Fund.

This fund, he continued,
which seeks to assist with the
purchase of prescription med-
ication for specific chronic ill-
nesses, merely duplicates a pro-
gramme that is already in place.

“Patients in the Bahamas can
receive their medications free
of charge today from publicly
owned pharmacies, although
the process may be cumber-
some and inefficient,” he said.

“Further, the elderly, even
now, are issued a med card,
which they can use to access
their free government supplied
medications. These medicines
are not restricted to specific dis-
eases either,” he added.

Dr Nottage said that the cur-
rent system of public and pri-
vate health care in the
Bahamas, is inadequate as is
currently constituted.

“In The Bahamas, some’say

sneakerDoun

Rosetta St. -



Bi BERNARD Nottage

that, health care is available to
all who need it, either through
the private or public health sec-
tor. This may very well be true.
However, the fact is that the
health services available in the
public sector is limited, and too
often do not meet the patient’s
satisfaction. The health services
in the. private sector is often
considered better, but is too
often out of reach, even of the
insured, because of the cost,”
he said.

“Outside of this necessary
financing, the PLP believes that
governments in The Bahamas
are obliged, to remember that

more than 50 per cent of the-

population has no financial pro-
tection through health insur-
ance. This presents the chal-
lenge of providing access to
quality care for all Bahamians,”

ve se
TM23)



Ph: 325-3336

charges Nottage

he added.

The NHI scheme his party
laid out, which would see
employers, employees and the
government contribute to the
comprehensive health care
needs of Bahamians, would
eliminate the need for cook-
outs, Dr Nottage said.

And he emphasized that
“access to quality health care
regardless of economic and
social status is a fundamental
right.”





The

GIFT & BRIDAL REGISTR

wy Harbour Bay Shopping Centre
Se Ph: 393-4440 or 393-4448

(Wer,

i)



Benefits of

Listing Exclusively

Mi By JESSICA ROBERTSON





MRIDLEY Carroll, Realtor

Even with an active real
estate market in The Bahamas,
properties do not sell
themselves. The experienced
team at Damianos Sotheby’s
International Realty knows
that it takes knowledge and
dedicated work to market
and sell properties
They find that for
sellers, the best
option is to list
exclusively.

An exclusive ,
marketing
agreement
with Damianos #
Sotheby’s
International
Realty guarantees
accesstoa vastarray
of unique tools,
each —_—_ designed

exposure a property gets and
increase its sales potential.

Perhaps the biggest
misconception of an exclusive
listing agreement, says Ridley
Carroll, a Damianos Sotheby’s
International Realty agent, is
that such an agreement limits
exposure.

“Just because a property
is listed with us exclusively
does not mean that we are the
only ones trying to sell it,” he
explains, “With our custom
marketing programmes, we
actively market your property
to the local and international
real estate ~— brokerage
community, ensuring that as
many prospective buyers are
aware of your property as
possible.”

Another benefit for sellers
is that their exclusively listed
property is shown by only the
principal agent, eliminating
the hassle of multiple eager
agents calling to arrange
showings.

This is just one of the



specifically to broaden ‘the ;

many ways Damianos
Sotheby’s International works
to sell properties _ listed
exclusively: with the agency.
Immediately upon signing
an exclusive
agreement, your property
is featured on Damianos
Sotheby’s International
Realty’s dedicated site www.
SIRbahamas.com and featured
on www.sothebysRealty.
com; www.sothebys.com;
www.LuxuryRealEstate.

com with direct web feeds to

www.NYTimes.com, www: Ht
RealEstateJoumal.com(which

is the Wall Street Joumal’s
website) and the International
Herald Tribune, as well as four
other US-based sites and three

‘UK-based websites including

www.Knightfrank.com.

eceens

Another misconception
about exclusive listings is that
the service is only offered for
high value properties. Not so,
says Maxine Hussey, Director
of Operations at Damianos
Sotheby’s International Realty.

“Regardless of the listing
price, all of our clients benefit
from the exhaustive list of
services and tools available
to exclusive listings. Not only
is the agent you've dealt with
actively working on selling
your property, I personally
manage the placement and
marketing administration of
each exclusive listing and
I have to say, the custom
marketing programmes
offered by — Sotheby’s
Intemational Realty are
always being __ updated
and new opportunities are
continually being added,” she
says. All exclusive listings
are showcased via Intemet
feed throughout the extensive
local office network and

homes valued in excess of
$1.5 million are also featured
on the global Sotheby’s Office

marketing —





Network including the New
York and London Auction
Houses.

Despite the increasing
popularity of web-based
marketing, many buyers still
like to hold a glossy brochure
in their hands. Properties listed
exclusively with Damianos
Sotheby’s International Realty
are featured in a full colour
brochure that is distributed to
brokers and agents throughout
the Bahamas and are also

delivered to and displayed

in the lobbies of banks, trust
companies, law. firms and
other industry partners. Plus
brochures featuring Bahamian
properties are sent to targeted
Sotheby’s offices and
mailing lists in key markets
worldwide, ensuring that the
. right people see
what is available.
Earlier this
year, Damianos
Sotheby’s
International
Realty launched its
monthly electronic
newsletter which
features _ photos
and descriptions of
exclusively listed




properties with

links to the www.

#23 STRBahamas.com

website for more details and
photos.

Local and intemational

newspaper and magazine

advertising is the final tool
in the Damianos Sotheby’s
Intemational Realty arsenal
of marketing opportunities
with weekly listings in
The Tribune Real’ Estate
Guide and targeted property
marketing in an array of
magazines including Reside,
the new publication offered
by Sotheby’s International
Realty plus Unique Homes,
The DuPont Registry and

Luxury Real Estate Magazine
and Network.
Damianos Sotheby’s.

International Realty has
offices in Nassau, Abaco
and Eleuthera and markets
properties of all sizes and price
points located throughout
The Bahama islands. Their
qualified team boasts over
135 years of combined
experience, and regularly goes
the extra mile when it comes
to customer service.

For more information log
on to www.SI Rbahamas.com.





PAGE 6, MONDAY, JULY 2, 2007

THE TRIBUNE



FURS ae RIE 008 ld ger SS
The new British government and
its future with the Caribbean

By Sir Ronald Sanders
(The writer is a business exec-

utive and former Caribbean
diplomat)

B RITAIN remains of
sufficient importance

to countries of the Caribbean

that many of them will be
deeply interested in how the
change of Prime Minister from
Tony Blair to Gordon Brown
will affect them.

The one person of Caribbean
origin in the Blair Cabinet,
Baroness Valerie Amos, has
gone but another person of
Caribbean origin has joined

URGENT NOTICE

This notice is to inform the general
public & our valued customers that
Ms. ANN FORBES is no longer
employed by LOWE’S ALARM
SERVICE LTD., and is no longer

authorized to conduct any form of
business on behalf of Lowe’s Alarm

Services Ltd.

Management.

In Memory of The Late
Kent Evan Villiere Reid IT

We always took for granted

What we thought we'd never lose

Because we never thought it would happen

Till we heard the dreaded news 2

They say you were chasen fo
His precious hand picked bougus

Saying paddies is neve
It's the hardest thing te
But what hurts us even
So today Jesus, as as y
Would you go and fi
And give him all-our dove.

‘a. Say it to you
*

Left to cherish his memories are wife Akira, Children, Kentira, Kent
HI, Rashad and Rasheik, Parents Kent and Gloria Reid, host of

family and friends





VACANCY NOTICE

The Grand’ Bahama Power Company, Limited invites qualified candidates to apply
for the position of Technician Il (Instrument) in its Generation Department.

This position works under the direction of the department’s supervisor and performs tasks
related to maintaining, installing calibrating and troubleshooting digital, electronic, pneumatic
and electrical system components, and their input and output devices, used to control, power

and operate power plant equipment.

The successful candidate will be expected to:

Demonstrate thorough knowledge of power plant systems, processes and components
including electronic, digital, pneumatic and electro-hydraulic equipment used to control,
monitor and operate systems.

Demonstrate thorough knowledge of various analyzers, for example, but not limited to CO,

02, CEMS, pH, conductivity and opacity.

reroute equipment.

e

Program and install flow computers, analyzers, recorders, etc.
Quickly learn, understand and use new repair and maintenance techniques.

Read blueprints, ladder logic diagrams, wiring diagrams, etc. to troubleshoot, locate or

Disassemble and reassemble all types of instruments including PRVs, control valves,

transmitters (pneumatic and smart), recorders, etc.

MINIMUM REQUIREMENTS

* Associates Degree or its equivalent in Electronics, Electrical Technology, Instrument & Control
Technology or related trade.

an industrial facility.

systems.

THE DIRECTOR OF HUMAN
GRAND BAHAMA POWER

Troubleshoot complete control systems, analytical equipment and electrical systems to locate
malfunctions and defects down to component level, repair and replace as needed.

Develop and implement safety policies and operating procedures.
Draw and interpret diagrams and charts and use various instrument testing equipment.

Minimum of five (5) years experience at a Technician level in the Maintenance Department of
Possess good technical understanding of instrumentation, electrical systems and mechanical

Trained in the maintenance of power plant equipment.

Applications with supporting documentation including a clean Police Certificate and proof of
Bahamian citizenship should be sent to:

RESOURCES
MPANY, LI! {

PQ, Box F-40888
Freeport, Grand Bahama tsiand

Bah
OR BY EMAIL: hre

DEADLINE FOR RECEIPT OF }

JULY 11", 2007

et eee ie ate Oa ee

GRAND BAHAMA POWER COMPANY

Brown’s Cabinet — Baroness
Patricia Scotland.

Guyana-born Baroness Amos
held many positions in the Blair
administration including For-
eign Office Minister, Secretary
for International Development
and finally Leader of the House
of Lords. She has now been
nominated for the post of Euro-
pean Union (EU) special rep-
resentative to the African
Union.

Dominica-born Baroness
Patricia Scotland is the Attor-
ney-General in Brown’s gov-
ernment. Undoubtedly, this is
a remarkable development. It
is the first time in British histo-
ry that a woman is Attorney-
General and the first time that a

black person holds this impor-

tant post.

Baroness Scotland had also
served the Blair government as
parliamentary under secretary
in the foreign office, parlia-
mentary secretary at the Lord
Chancellor’s Department and
recently as Home Office Minis-

, ter of State for the Criminal Jus-

tice system and Law Reform.

B etween them, these
two Baronesses exer-

cised considerable influence in



given to Caribbean causes.

The new Foreign Secretary is
David Miliband. While there is
no record of his showing any
interest in the Caribbean, there
are indications that his views on
some issues coincide with the
expressed positions of
Caribbean governments. For
instance, even though Mr
Miliband’s heritage is Jewish,
he has criticised both the US
and Israel over the Israeli attack
on Hezbollah last summer.

On climate change, which is
an issue of great concern to
Caribbean countries, because
of increased and more intense
hurricanes linked to global
warming, he has considerable
interest and is sure to push it as
part of Britain’s foreign policy
agenda. He has also shown that
he is not reluctant to face up to
issues with the United States
and last year he made it clear in
a,speech in the US that the chal-
lenges of climate change



It is to the new Foreign Secretary
and other ministers in the British
foreign and commonwealth office
as well as the new International
Development Secretary that the
Caribbean will have to look to
ensure that it keeps what little
attention is given to Caribbean

causes.



getting the Blair administtation:â„¢:
“““to pay some attention to the ~
.. Caribbean.

Although Baroness Amos
has gone at Gordon Brown’s
behest, the fact that he has pro-
moted Baroness Scotland to the
post of the government’s senior
law adviser will help to retain
the votes of Caribbean people
in the UK who have tradition-
ally supported the Labour Par-

ty.

But, it is to the new Foreign
Secretary and other ministers
in the British foreign and com-
monwealth office as well as the
new International Development

Secretary that the Caribbean

will have to look to ensure that
it keeps what little attention is






























Heepiag Grand Bahamas Faure Brighé



2 @emg@na-< strong leadership” m
- from Washington if they are to

be met successfully.

A: I write this com-
mentary no

announcement has been made
about Lord Triesman, the for-
eign office minister who had
responsibility in the Blair gov-
ernment for relations with
Africa, Latin America, the
Caribbean, Overseas Territo-
ries, and the Commonwealth.
But, at least one of his sub-
ject areas, Africa, has gone to
an interesting new foreign office
minister who, while he will not
be a Cabinet minister, will

YOUR CONNECTION

| AGN

@ SIR Ronald Sanders

attend Cabinet meetings as nec-
essary. This is Malloch Brown,
who served as an aide to for-
mer UN Secretary-General,
Kofi Anan, and who was critical
of President George W Bush’s
administration over Israel and
Lebanon. He will also have
responsibility for Asia and the
UN. In many policy areas such
as the middle-east and devel-
opment issues, Malloch Brown’s
and many Caribbean govern-
ments should see eye to eye.
The other appointment that
should be of interest to the
Caribbean is the Secretary for



the European Union (EU) for
an Economic Partnership
Agreement. To underscore
Alexander’s importance, Gor-
don Brown has also appointed
him the coordinator of the
Labour Party’s strategy for the
next general election. He will,
therefore, wield considerable
influence.

A: for the new Prime
Minister himself, he

has shown little interest in the
past in Caribbean matters. And,
it will take some doing for the
Caribbean to engage his atten-
tion for two main reasons.

First, he now has both eyes
on establishing himself in the
minds of the British electorate
as the man best able to lead
them after the next general elec-
tions. In this, he has a fight on
his hands and the opposition
Conservative Party has wasted
no time in making his life
uncomfortable. Brown has set
himself an agenda for change
— change in education, health
and housing particularly. It is
an agenda that will occupy his
every waking moment.

Second, throughout his peri-
od as Britain’s Finance Minister,
Gordon Brown’s overseas pre-
occupation has been poverty in
Africa. This is unfinished busi-
ness, and the Caribbean will
recede deep into the back-
ground as he struggles to tackle
it under pressure from several
vocal and influential non gov-
ernmental organisations.

If the Caribbean is to engage
this new Brown government,



If the Caribbean is to engage this
new Brown government, much
work has to be done at the diplo-.

‘matic and: ministerial levels. ‘And,

the help of the Caribbean Diaspora
in the UK will be vital, particularly
as general elections approach.



International Development. He
is Douglas Alexander a close
political ally of Gordon Brown’s
having served in the past as his
researcher and speech writer.
Alexander has been Minister
of Trade and Minister for
Europe, so he should be no
stranger to Caribbean issues in
the current negotiations with

much work has to be done at
the diplomatic and ministerial
levels. And, the help of the
Caribbean Diaspora in the UK.
will be vital, particularly as gen-
eral elections approach.

Responses to: ronald-
sanders29@hotmail.com

THE WORLD

PUBLIC NOTICE

GSM UPGRADE

In its

continuing effort
telecommunications
Telecommunication Company Ltd.

to
Service,

improve _ its

The Bahamas

(BTC)

wishes to inform its valued customers and the
general public, that BT'C will be performing an

equipment

upgrade to the GSM _ cellular

platform. Beginning Friday June 29th Sunday
July 15th, subscribers in Grand Bahama and
New Providence may experience an interruption
in both Post Paid and Pre Paid GSM services.
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Pr... "as aes SSR SEO Oest * "oa ea ees oR FF *

THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 7



© In brief

Puerto Rico
court not to
hear appeal
on legislature

m@ PUERTO RICO
San Juan

PUERTO Rico’s Supreme
Court declined to hear an
appeal of a voter-endorsed plan
for a new unicameral legisla-
ture that was blocked by the
island’s House of Representa-
tives, according to Associated
Press.

“Any other decision on our
part would be opposite to the
democratic system of govern-
ment and to the Constitution
that we are sworn to defend,”
Chief Justice Federico Hernan-
dez Denton wrote in Friday's
23-page decision.

In a July 2005 referendum,
voters in the US Caribbean ter-
ritory overwhelmingly approved
the concept of reorganising the
legislative branch under a single
house, saying it would stream-
line government and reduce
political infighting.

Opponents said it would cre-
ate a system that would be less
open and democratic, with few-
er checks and balances.

The 27-member Senate had
approved a bill allowing for
another referendum on the
issue. But in January the larger
House voted not to take up the
measure, effectively killing it.

Senate President Kenneth
McClintock said the court’s
decision affirmed that the 2005
referendum had created “exag-
gerated expectations” among
voters that a one-house legisla-
ture would be established.

A group backing the plan said
it would continue to lobby for a
unicameral congress.

Outrage as
former police
captain is
released

@ DOMINICAN REPUBLIC
_ Santo Domingo

€

aaa AN, ex-police captain chas 7
’ “Been exonerated and freed from *

prison in the 2004 slaying of his
brothers-in-law, his attorney
said Friday, according to Asso-
ciated Press.

Relatives of the two victims —
Harry Sanabria, a 43-year-old
metal worker from Stormville,
New York, and Dominican tai-
lor Hector Garcia — expressed
outrage at a panel of judges'
decision to overturn ex-Capt.
Eleccio Soto Roa's murder con-
viction.

"All the healing that had tak-
en place has just gone by the
wayside," Diana Sanabria, sister
of one of the victims, said by
telephone from New York City.

The men were killed while
riding in an SUV with Soto Roa
near the northern city of Cabr-
era on July 4, 2004.

A witness testified at two tri-
als that he heard gunshots from
inside the vehicle, saw it crash
into a tree and then saw Soto
Roa emerge from the back seat
and flee with a gun in his hand,
according to Mercedes Pena
Javier, a lawyer for the victims'
families.

After the initial conviction,
Soto Roa was thrown off the
police force and sentenced to
20 years in prison.

But in a June 22 trial ordered
by an appeals court, judges
ruled that evidence had not
been properly filed and refused
to consider the results of a bal-
listics test, lawyers for both sides
told The Associated Press.

Chief Judge Wendy Altagra-
cia Valdez declared Soto Roa
not guilty of voluntary homi-
cide, and ordered the charges
dismissed and his court costs
compensated.

of things we
think, say or do

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By DENISE MAYCOCK
Tribune Freeport Reporter:

FREEPORT — Marco City
MP Zhivargo Laing says he is
not at all worried about the
impending election court pro-
ceedings in reference to peti-
tions filed by the PLP to con-
test his constituency seat in
Grand Bahama.

The Minister of State for
Finance said that while it is
their right under the law to
oppose the results of the May 2
general elections, “the FNM
will do what it has to do to
defend its cause in the courts".

’ The Progressive Liberal Par-
ty has filed petitions contest-
ing three seats — the Pinewood
and Blue Hills

constituencies in New Prov-
idence, and the Marco City
constituency in Grand
Bahama.

The seats were officially won
by the FNM by a small mar-
gin — less than 100 votes. In
Marco City, Mr Laing

defeated former PLP MP
Pleasant Bridgewater by 47
votes.

The FNM won 23 seats to
the PLP’s 18. Wayne Munroe,
counsel for the PLP, has stated
that the petitions are primarily
based on the party’s assertion
that non-citizens voted in the
election, along with persons in
constituencies where they did
not live.

Mr Laing, Blue Hills MP
Sidney Collie, and Pinewood
MP Byran Woodside were all
served with writs last week.

While in Grand Bahama on
Friday at the opening of his
constituency office in the Sun-

rise Shopping Centre, Mr
Laing met with his supporters,
residents of Marco City, and
the news media.

Asked how he felt about the
election court proceedings he
responded: “I believe there
are many rights that people
have in this country under the
law, and obviously the opposi-
tion had decided to exercise
that right.

“It doesn’t concern us what-
soever. We have done and are
doing our due diligence, and
we believe that the basis of the
petitions is unfounded. But, we
are going

to do what we have to do to
defend our cause in the courts.

“For the time being, we are
really focused on representing
the people of Marco City and
doing what is necessary for
them and what advances this
community, that is my focus at
the moment,” said Mr Laing.

Mr Laing said that $100,000
has been allocated in the Bud-
get for the residents of Marco
City.

“We are working feverishly
on organising how to spend
that $100,000...for the resi-
dents of Marco City,” he

said.

Although Mr Laing had
opened his campaign office at
the same venue before the
elections, he explained

that they are now officially

launching the Marco City MP’s -

office.

“We have developed some-
thing that all residents of Mar-
co City can feel free to come
and meet with the MP to
obtain information about the
activities, functions, and plans





A

@ MARCO City MP Zhivargo Laing, Minister of State for Finance, is seen with a constituent at

Laing: ’'m not worried about
_the PLP’s election challenge



the opening of his MP's office on Friday in the Sunrise Shopping Center complex
(Photo: Sharon Williams-Turner.)

of the MP,” he said.
He said that residents also

. will be able to obtain informa-

tion about Bills being debated
in Parliament, receive infor-
mation about laws that have
been passed, and make input
into things happening in Par-
liament.

Mr Laing said the office also
has a computer area anda
mini-library available for the
residents of

Marco City:

“We want this to be a place
where they can come and
access information from the
Internet. We also provided a
mini-library so residents, are
able to borrow books from
here, and return them.

“This (office) is just really to
provide a central place for

ary get.

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exchange of information
between myself and the resi-
dents of Marco City so that
whatever concerns they might
have, they are able to voice it
even if I am not here, which is
important because my ministe-
rial responsibility has me in
Nassau almost five days out of
the week,” he said.

Mr Laing also will be initiat-
ing programmes and activities
for the young and elderly.

He said they are working on
establishing a Marco City Schol-



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PAGE 8, MONDAY, JULY 2, 2007 THE TRIBUNE

Passing out for youth service graduates |










@ GRADUATES of the National Youth Service Restorative Programme
carry the Bahamian flag above their heads before raising it to launch the start of the Passing Out
Ceremony on Friday in BARC, North Andros. Forty-one young men completed the nine-month
course to improve their academic, physical and social skills.



rae: |



& GRADUATES of the National Youth Service Restorative Programme Junior Life Division
march past ,

@ FROM Left: Minister of State in the Ministry of Social Development Loretta Butier-Turner,
Vincent Peet, member of parliament for North Andros and the Berry Islands, and Neville Wis
dom, former Minister of Youth, Sports and Culture, are shown in attendance at the ceremony



nL

B MINISTER of State in the Ministry of Social Development Loretta Butler-Turner delivers the
keynote address at the ceremony









= RAD US Leon tac National Youth Sery. ice Restorative Programme Junior Life Division terfield, 16, goes up for a high-five with his mother Druscilla Butterfield, as they celebrated togeth-
drop to their knees and snap a salute during a drill

er after his Passing Out Ceremony . Ms. Butterfield was elated over hearing the news of her son’s
3.1 grade point average score and hopes to secure a scholarship for him in a school in Grand
Bahama.









mt toh a.

li GRADUATES of the National Youth Service Restorative Programme Junior Life Division ® National Youth Service Restorative Programme Junior Life Division graduate Shaquille Poitier,
remove their berets during a drill 13, gets a big embrace from his mother Marina Poitier

(Photos: BIS/Tim Aylen)



THE TRIBUNE



LOCAL NEWS



MONDAY, JULY 2, 2007, PAGE 9

M@ Terry Fountain- President of Cancer Society of the Bahamas, Toni Gad - Island Manager at Dia-
monds International, Anthony Smith - Marketing Manager at Diamonds International

(Photo by Sandra Ford)

Jewellery firm
donates to
Cancer Society

@ TAMARA FERGUSON

A LOCAL jewellery store
yesterday pledged its commit-
ment to support individuals with
cancer.

Diamonds International pre-
sented a donation to the Cancer
Society of the Bahamas during a
press conference at its head-
quarters in Beaumont House.

Toni Lad, Island Manager of

_ Diamonds International, said
that the donation will assist indi-
viduals with cancer and will in
some way help to alleviate some
of the mental, emotional and
financial stress that cancer
patients go through during this
period.

“This cheque presentation
would not have been possible
without the commitment and

* support of Diamonds Interna-

tional staff in this initiative.”
According to Ms. Gad, 15 per
cent of all local sales made dur-
ing the month of May was
donated to the Cancer Society.
Senior Promotional Officer,
Peter Rahming of Diamonds
International’s social club, said

that the company has also orga-
nized an incentive to donate
blood for the blood bank at
Princess Margaret Hospital.

According to Mr. Rahming,
this event is projected to be held
annually in conjunction with
other like-minded corporate cit-
izens such as Vitamalt, Guin-
ness, The Burns House Group
of Companies and Gippy’s
printing, all supporters of the
blood drive, which is to take
place on July 5th at the Dia-
monds International board
room in Beaumont House, Bay
Street.

Terrance Fountain, who
received the donation on behalf
of the Cancer Society, said that
there are many challenges faced
by the Cancer Society, such as
financing and voluntarism.

“Persons are not volunteer-
ing at the level they used to in
the past. There are a number
of areas that persons can vol-
unteer to assist with, as we offer
training for those persons who
are interested,” he said.

However, hé added that the’ ~

cheque will be used to offer fur-

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PAGE 10, MONDAY, JULY 2, 2007

THE TRIBUNE



Gran

THE Red Rose Ball brought
out some of Grand Bahama’s
most prominent and influential
people last weekend.

An evening of jazz, the affair
with an all-white colour scheme,
was held on Saturday, June 23,
in the Pavilion at the Westin
and Sheraton at Our Lucaya,

_ hosted by Colinalmperial and
the Red Rose Ball Committee
_.and sponsored by BTC, Sun-
bound and Bristol Wines and
‘Spirits.

The event was the first cock-
tail reception held by the Red
Rose Ball committee, in a con-
tinued effort to raise funds for
the awareness of HIV/AIDS in
Grand Bahama.

The cocktail reception began
at 6pm by moderator Lin Glin-
ton, co-chairman of the Red
Rose Ball Committee to the
sounds of sultry jazz played by
DJ Elvis Andrews.

As guests arrived members
of the Red Rose Ball Commit-
tee greeted them and invited
them to cocktails.

At 7pm the melodious sounds
of Shelly Carey and Friends
began as supporters took to the
dance floor. The night of enter-
tainment flowed with exhilarat-
ing jazz music, fine wine and
good company. Additional
entertainment was provided on
the violin by Ms Africa
Karamo, an experience most
Bahamians are not fortunate to
experience.

The decor for the event was
second to none. The idea was
to transform the Pavilion into
an outside gazebo with white
organza flowing in the breeze
around the perimeter of the
outside of the room. The panels
of organza were accented with
bamboo poles. Inside the tables
were covered with white linen
and organza ties around the



@ PRESENTATION to sponsor. BTC representative, Marsha
Cooper, from RRB committee chairman Odette Knowles and
RRB committee finance officer, Minerva Kemp.

elbow high cocktail rounds.
Natural coloured bar stools
were placed at the elbow high
tables and natural coloured
chivari chairs with white pads
were placed at the low cocktail
rounds. A bundle of bamboo

and white orchids tied with raf-
fia as centrepieces on a palm
frond were placed on the low
tables and the same type of
bundle was placed standing tall
on the elbow high cocktail

tables. Small votive candles .



gC



-CHAIRMAN RRB committee - Lin Glinton chatting with Dr Duranda Ash, Minerva

Kemp, Angela Burrows and Joyce Case:

were added to each arrange-
ment.

The most amazing attraction
was the clutter of dried tree
branches pouring out of the
chandelier with an array of
floating votive candles in mid-
air. :

Two Bamboo bar surrounds
with thatched roofs and clear
chandelier bulbs were place
around the hotel bars with
white urns to display a cluster of
8’ tall bamboo poles. Many
candles were placed on the cre-
denza and tiki torches outside to

add to the atmosphere. With all
of this in place, the theme ofa .-

d Bahama’s Red Rose Ball is

“Tropical White Reception”
came to mind for all attending.
The decor was courtesy of Sun-
bound, one of the sponsors of
the event.

Presenters for the evening.
were Mrs Mavis Ward of the
Grand Bahama AIDS Aware-. -
ness Committee giving a brief
synopsis on the statistics of.



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@ PRESENTATION to spon-
sor, Sunbound Representa-
tives, Peggy Bates and Lloyd
Grant from RRB chairman
Odette Knowles and RRB
committee — public relations
officer, Eunece Morris.





@ THE Red Rose Ball Committee members: Oswald Ellis,
Kenya Laing, Angela Burrows, Eunece Morris, Odette Knowles,
Minerva Kemp, Lin Glinton, Samantha Green, Nichole Need
Jeroma Knowles Dashwell Hoye:

CLOSED me -
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YOUR CONNECTION THE WORLD

PUBLIC NOTICE
INTERRUPTION OF SERVICE ANDROS

The Bahamas Telecommunications Company
Limited (BTC) wishes to apologize to our
valued customers and the general public for
the interruption of service experienced on
June 27th, 2007 that affected toll calls to and
from Andros, The Bahamas, ue to a break in
BTC’s link cable. | :
BTC technicians have resolved this problem and
all services are now fully functional.

Once again, BTC apologizes for any
inconvenience caused and appreciates. your
patience. BTC thanks the public for their
continued support as we keep you connected to
the world. |

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THE TRIBUNE



declared success



a MARSHA Cooper, senior associate of Sante relation at BTC, a Mr comer an Employee of
the Year, BIC Mrs. Cathy Williams and Mr Williams.

HIV/AIDS in Grand Bahama,
and encouraging the communi-
ty to continue in the fight
against HIV/AIDS. Also, Mr
Derek Sands, chairman of the
Grand Bahama AIDS Aware-
ness Committee, also gave a
' brief update as to how the funds
raised will be spent and thanked

the supporters for their support ’

to such a worthy cause.

During intermission it was
time for the raffle and give-
aways, sponsored by BTC. All
those attending had the oppor-
tunity to win one of the many
cellular phones donated by
BTC. Some of the winners
were Dr Paul Ward, Dr
Catherine Adderley, Mrs
Monique Wilchcombe and Ms
Eunece Morris.

Then it was time to recognise
the sponsors by presentation of
awards by the Red Rose Ball
Committee’s chairman, Mrs
Odette Knowles. The sponsors
were each given a crystal award
thanking them for their spon-
sorship of the event. Mr Dash-
well Flowers, executive chair-
man of the Red Rose Ball Com-
mittee, gave) remar FKS on behalf

yeamwee



@ PICTURED left to right are Mr and Mrs Barry Malcolm, Mr
David Wallace and Mrs Carla Hanna-Wilson.

of Colinalmperial, host of the

event and thanked all for
attending.

‘All itsipoutters continued ‘to

dance through the night as the
DJ a'tempted to end the
evening on schedule with some
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MONDAY, JULY 2, 2007, PAGE 11

2007

ANNUAL FISHING TOURNAMENT

1" Place Winners “King Fish” were the recipients of a

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PAGE 12, MONDAY, JULY 2, 2007

THE TRIBUNE



De. 5 oO an a
Atlantis is accused of not paying millions for woodwork

FROM page one

Mr Ingea said the dispute has
put the family business under
enormous financial strain as
banks continue to knock at his
door.

Now conversations between
Kerzner’s legal counsel and
his lawyer have allegedly
returned the response there
will be “an answer by the end
of the month” as to whether
he will get paid what he says
he is owed. But the experi-
enced business owner says this
is too long considering the cir-
cumstances, and he has
already heard “too many
excuses.”

His firm — the lowest bidder
— was contracted in 2006 to
carry out the wood work fin-
ishings inside The Cove,
including details in the lobby,
as well as doors and cabanas.
“Our pricing was good, our
quality was good,” said Mr
Ingea.

Now, he said, it appears that
by demanding the $3.5 million
Kerzner are “asking for every-
thing we’ve done since Feb-
ruary for free — pretty much
that’s what it equates to.”
February was the last month

that Mr Ingea said he was
paid.

In June, when he “finally” got
a meeting with PCL, which he
hoped would be an opportunity
to settle his account, he was told
that he would not be paid the
amount he had asked for as he
was to be charged $1.3 million
for additional air freight costs,
and $2.2 million for additional
labour costs — both unanticipat-
ed “rush” expenditures that he
believed Kerzner Internation-
al, being the authority pushing
the new hotel’s rapid comple-
tion, would bear.

This was despite the fact that
five months earlier, a Kerzner
official assured him that they
would cover the air freight costs
themselves, Mr Ingea said. He
produced what he claimed was
a copy of an e-mail from the
official as proof of this.

“Last Friday (June 24) I
received this document saying I
was to be back charged. This
was the first written document
I’d ever received regarding a
back charge — that’s not how it
works.”

He claims a senior PCL staff
member told him at that June
meeting that they were over
budgeted and would pay him

“whatever’s left over” after oth-
er bills are paid off — a state-
ment which he found startling.

Previously, Mr Ingea alleges;
he was ignored — as he sought
for months to get written con-
firmation that the air freight and
labour costs would not be borne
by his company.

Although he received verbal
assurances from PCL staff, e-
mails sent and copied to PCL
and Kerzner International
employees were largely unheed-
ed, he alleged.

He claims he was told that
the $2.2 million labour charge
was to pay a group of carpen-

‘ters that Kerzner brought in.

However, the only reason they
had to be brought in was
because Kerzner failed to
secure sufficient work permits
for his team.

“It started very politely:
‘We’re in a hurry, work permits
are being delayed, we hope you
don’t mind...but (the carpenters
brought in by Kerzner) will help
you out. Don’t worry you won’t
have to pay’.”

Due to these workmen’s

’ country of origin — suggested to

be the US or Canada -— their
wages are much higher in com-
parison to what he would have

paid his Lebanon-based staff.

“What I had budgeted
$150,000 for, they said would
cost $2.5 million,” said Mr
Ingea.

The air freight charges came
after those managing the pro-
ject said that shipping materi-
als by sea, as had been speci-
fied in his contract, would be
too slow. According to Mr
Ingea, he agreed to the idea,
but had no involvement in
choosing the carrier, or arrang-
ing payments. PCL, at the
behest of Kerzner, took charge
of all of this, he alleges. He then
heard nothing about it until
June 24, he said.

In addition to these unex-
pected charges, Mr Ingea said
that his company is not being

credited for innumerable ad hoc —

jobs done at the request of PCL
managers between February
and May. “They increased the
orders every two or three days,”
he said. “We went on in good
faith without asking for any
advance payment,” he said.
His workforce went about
satisfying these demands — often
working long, unsociable hours
on weekdays and weekends.
“My guys worked at 150 per
cent,” said Mr Ingea. “Where

there was poor workmanship
from others, we did repairs,” he
added. This included work in
May to correct details in the
Royal Suite prior to a visit from
Oprah Winfrey.

Mr Ingea claims the handling
of the situation is unlike any
previous experiences he has had
working on numerous hotels
worldwide.

He added that he still believes
The Cove represents “an out-
standing achievement by Kerzn-
er and its subcontractors”, and
still hopes that “common sense
will prevail” in the matter.

The Cove opened with much
fanfare in May, although visi-
tors had been renting suites
since April. Since that time,
there has also been dispute
over payment on behalf of a
significant proportion of the
hospitality staff, including
housekeeping and restaurant
workers. As of two weeks ago,
this matter had not yet been
resolved.

Vice president in charge of
public relations at Kerzner
International, Ed Fields, said
yesterday that the company has
no comment to make on Mr
Ingea’s claims as “this is a mat-
ter of legal dispute.”

Cocaine

FROM page one

The vessel intercepted Friday
may have been one of hundreds
of boats aiming to deliver cocaine
to the US market. AP reports
that most US-bound cocaine still
heads for the country by sea,
often weaving through the,
Caribbean on its way.

Dialysis
FROM page one:

the Princess Margaret Hospital
Foundation,” said Tameka S.
Forbes, Senior Manager - Busi-
ness Development, PR and,
Legal Affairs at the bank.

“As your Bahamian Bank,” |
she said, “we support this very
worthwhile charitable initiative..
We especially congratulate Mark *
Roberts for starting this drive; he
exemplifies the Bahamian spirit ,
at its best. His spirit is indicative .
of Bank of The Bahamas Inter-
national's own drive to offer the ©
very best products and services .
to our clientele." 5

The fund was launched by Mr,,
Mark: Roberts of the Tile King
and FYP, The Tribune, its radio ;
station 100 JAMZ and its part-
ners, radios Joy, and Cool FM.

Guana Cay campaigners slam BNT.

Christie

FROM page one

Mr Christie expressed sadness
over the event, and governmen-
t’s meddling with the Urban
Renewal Project during his

- weekly web chat.

“Too many Bahamians have
already suffered at the hands of
this new FNM government,” the
opposition leader said.

“This recent event has dis-
turbed me greatly and under-
scores the serious consideration
that must be given to who they
are voting for and why,” Mr
Christie added.

At the time of the murder,
Mr Christie said he was speak-
ing on the “urgent” need to
return officers to the various
Urban Renewal centres at
Worker’s House.

Prominent individuals such as
Police Commissioner Paul Far-
quharson and the head of the
Anglican Church, Archbishop



Don’t let your retirement be spoiled by









~ (of the'centre):""

WorldwideMedicalTrust

Drexel Gomez have lauded the _
programme as a bold social
intervention in the lives of
Bahamians, Mr Christie empha-
sized, in defense of the initia-
tive he created and championed.

A neighbour of the deceased,
who wished to remain anony-
mous, blamed the new govern-*
ment for their handling of the
Urban Renewal programme
since coming to office.

“T couldn't believe it when I
found out what happened last
night. I ain’t want start anything,
but before the election a police
car was always park up in front





"If that place was open, this
wouldn't a happen," he claimed.

Mr Christie’s criticism of the
government comes after PLP
MP for the area Kenyatta Gib-
son also bemoaned govern-
ment’s alteration of,the pro-

gramme. Mr Gibson said last _.

goes on offensive

urban renewal has done to }
change Nassau Village”, with :
troubled young men coming to ;
police officers involved in the :

scheme.

The Tribune was not able to
reach National Security Minister :
Tommy Turnquest for com- :

ments on Mr Christie’s remarks.
However, government had pre-
viously announced that there
would be changes to the Urban
Renewal programme.

Last Thursday, police rolled :
out their new neighbourhood :
policing programme, which :
seeks to divide the island of New :

Providence into zones, placing

more officers on the.streets and :.
in direct contact with commu- :

nities.

A further component of this :
plan is to ensure that each zone :
has the necessary allotment of :
police cars and bicycles, to :
ensure that there is a heightened :

~Priday- that he has “seen what “~ and sustained police presence.











FROM page one

SGCR alleges that the devel-
opment, which they have rigor-
ously opposed since 2005, has
damaged the environment of
Guana Cay by clear-cutting
every tree in a 100 acre area;
removing more than 70 acres of
mangroves; destroying crabbing
grounds; and disturbing turtle
nesting grounds through beach
raking.

SGCR is also particularly
opposed to the creation of a golf
course within 50 yards of reefs,
which they claim will destroy
the structures.

Glenn Bannister, president
of the BNT, on accepting the
pledge, said that the trust had
visited the development ear-
lier this year and was

impressed by the develop- |

ment’s efforts in following the
best environmental manage-
ment practices.

‘To this SGCR responded:

ot

“SGCR has secured the
professional services of some
of the best known scientists in
the region and all of them are
certain that a golf course with
its associated fertilizers and
chemicals this close to a liv-
ing coral reef is a recipe for
disaster. All of these scientists
have no personal interest in
the project and none of them
were paid for their work. They
have all stated uncategorical-
ly (sic) that this golf course

-will kill the reef at Baker’s

Bay and beyond.”

The $1.2 million donation by
Baker’s Bay to the BNT comes
in two parts. The BNT will ini-
tially receive $200,000 a year
for three years. These funds will
be used to assist with the man-
agement of national parks
throughout the country, with
special emphasis on projects

around Great Guana Cay and .

the Abacos.
The developers will issue a

catastrophic Medicals Bills ...

Lloyd’s of London Silver Medical Plan
International Health Insurance for persons 50 to 85 years of age



IN NASSAU CALL

second three year grant of the ,
same amount to the BNT,:
based on their performance in
meeting the objectives of the
outlined mission. ‘

In May of this year, after a
series of legal challenges, SGCR .
lost a bid in the Court of:
Appeal to have construction on
the resort stopped.

Despite this setback, SGCR-
warns the BNT not to allow:
money to blind them to the dan-’
gers of the development.

“You only have-to look at
the pictures or visit the island.
to see how this mega-develop-'
ment is going to destroy this
beautiful Bahamian treasure.
Please do not be blinded by the’
money Bahamas. Baker’s Bay
has lots of money to throw,
around and they can buy lots of
friends. But with all the money:
they have, they cannot replace.:
a living coral reef. They can-
not replace mangroves and the,

7

’ associated fisheries,” they said.

~

IN FREEPORT CALL

393-5529 350-7827

IN ABACO CALL
ABACO INSURANCE AGENCY

367-5285



THE TRIBUNE

mm. -, US, PAGE 13



@ VENEZUELA
Caracas

A TWIN-ENGINE plane
swoops low across the open
waters south of the Dominican
Republic, and three men in a
fishing boat haul in the airtight

- bales that have just splashed
into the waves, according to
Associated Press.

Suddenly the men spot a US
plane and British helicopters
overhead. Video shot by their
pursuers and seen by The Asso-
ciated Press shows the men
hurling the parcels overboard
and trying to flee, but their
motor dies. The men are picked
up by a Dominican cutter while:
a British navy helicopter recov-
ers a half-ton of cocaine.

Tracked by US surveillance,
the May 12 flight originated in
Venezuela, which US, Euro-
pean and Colombian counter-
narcotics officials say has
become the path of least resis-

tance for smugglers of Colom-_

bian cocaine.

The drug shipments are flow-

ing nearly unhindered from

Colombia into Venezuela, then _

leaving by the ton on ships and
planes making deliveries for the
multibillion-dollar US and
European markets, the officials
say. They say high-level cor-
ruption has also helped make
Venezuela a major haven for
. drug smugglers running from
the law.

The cocaine passing through
Venezuela on President Hugo
Chavez’s watch has risen by as
much as 30 tons a year since

2002, reaching an estimated 300 °

tons in 2006, according to US
Ambassador William Brown-
field. That’s roughly a third of
the world’s supply. °

"Caracas is replacing Bogo-
ta (Colombia’s capital) as a cen-
ter of everything related to drug
operations,” said Mildred.
Camero, who was Venezuela’s
top anti-drug official until she.
reported high-level corruption
and was dismissed in 2005.

Venezuelan airports have
become such sieves that air-
borne smuggling. almost all of
it from Venezuela _ now
accounts for about 30 per cent
of-cacaine and heroin traffic out
of the Andes, compared with
10 percent two years ago, said
US Adm. Jeffrey Hathaway,
dutgoing director of the multi-
national command that coordi-
nates drug interdiction in the
region.

: Of 46 suspected drug flights
detected in the Caribbean by
US surveillance in the first four
months of 2007, all but six orig-
inated in Venezuela.

, “It’s worrisome. It’s historic,”
said Jose Luis Santiago Vas-
concelos, who was Mexico’s top
organized-crime prosecutor last

year when 5.5 tons of cocaine’.

was seized on a DC-9 jet from,
Venezuela. Not since the 1990s
had cocaine come to Mexico in
such big planes. In February,
another ton was seized in Mex-
ico on a flight from Caracas.
Chavez says the steady bar-
rage of US condemnation on
the issue twists the facts “to
demonize our government” and
ignores the fact that trafficking-
- and drug-related corruption in
Venezuela preceded his admin-
istration.

“We’ve landed the strongest
blows against drug trafficking
in all of Venezuelan history,”
he told the AP in a June 9 inter-
View, citing increased seizures
~ including 142 tons of cocaine
seized in the past three years _
and claiming determined efforts
are being made to weed out cor-

ption..

» Most US-bound cocaine still
moves north by sea — often in
synchronized combinations of
speedboats, trawlers and
freighters — via the Caribbean or
eastern Pacific to Mexico and
Central America, then crosses
the U.S. border by land.

' But as Mexico cracks down
on land shipments, and author-

Se oe ee a ae re ee ee

4

;
5
g
a

es ee

CARIBBEAN NEWS

ie Taree OR ee re ee Gl ee ee
Drug warriors call Venezuela path of
least resistance for Colombian cocaine ~



WIN this picture feleased by the US Coast Guard, a, baled of c cocaine seized four days earlier off the
coast of the Dominican Republic are watched over by a US DEA agent, during the transfer
process from a Coast Guard cutter to a DEA vehicle bound for a Federal evidence vault, in San

Juan, Puerto Rico

ities get better at high-seas
interdiction — the helicopters in

the May 12 bust came off a~

British ship in the area -
Venezuela is increasingly pro-
viding an alternative, counter-
drug officials say.

Most Europe-bound cocaine
is believed to pass through
Venezuela; sent.aboard ships

and jets — 727s, DC-8s and Gulf= ~

streams — to west African
nations where enforcement is
often weak and easily bribed,
Hathaway said at the com-
mand’s headquarters in Key
West, Florida.

“The reason it is very hard
for us to stop these flights is that
the aircraft look like, smell like
and act like legitimate com-
mercial flights,” said Hathaway,
a US Coast Guard rear admiral
who retired in May as head of
the Joint Interagency Task
Force-South. “There is either
no capability or no desire for
Venezuela to halt these air-
craft.” ;

-The multinational command
gets its human intelligence from
drug and customs agents on
three continents. Its ships,
planes, spy satellites and over-
the-horizon radar scour 42 mil-
lion square miles of high seas

from the mid-Atlantic to the :

eastern Pacific. Partners cur-
rently include France, Canada,
the Netherlands, Spain and
Britain.

Also participating are all the
drug-producing Andean nations
except Venezuela, which has

not sent a replacement since its

liaison, an air force colonel,
retired early this year.

Like the plane that made the
May drop, drug flights from
Venezuela are almost exclu-

- sively detected through aerial

surveillance, Hathaway said,
and almost always race back
after dropping off their cargo.

In the.12 months leading up
to Sept.-14, 2004, US surveil-
lance tracked 38 suspected drug
flights from Venezuela to the
Caribbean, Mexico and Central
America. The following year,
that number grew to 64, and the
next to 115. In the 6 1/2 months
up to March 31, 2007, there
were already 99 more.

Venezuela’s Anti-Drug
Office -chief;-Col--Nestor
Reverol, says well over 200
National Guard soldiers have
been dismissed in an anti-cor-
ruption purge, some officials
have been jailed and Venezuela
actively cooperates with a range
of countries beginning with
Colombia, where most of the
world’s cocaine is produced.

In September, for example,
Dominican agents acting on a
tip from Venezuelan authori-
ties seized 2.4 tons of cocaine
in a Belgium-bound shipping
container. Last month,
Venezuela seized 2.5 tons of
cocaine as smugglers prepared
to load it onto an Africa-bound
private plane on Margarita
Island. Among those arrested
were six police officials.

“We're taking actions. We
aren’t standing by with our arms

crossed,” Reverol said.
But senior Colombian police

‘and military officials report

scant cooperation from the
Venezuelans on drug interdic-
tion.

And Antonio Mazzitelli of
the UN Office on Drugs and
Crime, who is responsible for
western Africa, said he knew of
no busts or seizures in his region
that stemmed from information
provided by Venezuela.

"The majority of the big
seizures have been because a
plane broke down” or because
of Spanish or French high-seas
interdictions, he said by phone
from Dakar, Senegal.

A Dutch naval intelligence

officer on the Caribbean island
of Curacao, Lt Cmdr. Frank
Hermans, lamented the scarcity
of shared intelligence from

Venezuela, which is about 40 ©

miles away: “We only
encounter targets of interest
coming from Venezuela due to

survéillance.”"~ ~

Drug traffickers have always
developed new routes and
smuggling methods as law

enforcement catches up to the

old ones.

In the early 2000s, they began
using supercharged speedboats
to whisk loads of up to 5 tons of
cocaine out of Colombia and
Ecuador, to waiting ships. But
smugglers increasingly looked
to Venezuela as U.S.-Colom-
bian naval
improved and tools such as

. infrared sensors boosted high-

seas seizures.

Small planes now commonly
dash into Colombia from
Venezuela or Brazil, pick up

‘drugs and vault back into

Venezuela, where they. often
can land at commercial airports
and avoid clandestine airstrips,
said a senior Colombian police
official who spoke on condition
of anonymity because of politi-
cal sensitivities.

Sometimes they do not make
it. Two people were killed and a
half-ton of cocaine recovered
when a Venezuelan-registered
Cessna crashed near the east-
ern town of El Tigre on May
21, authorities said. And on
May 5, a Colombian police dog
sniffed out 1.5 tons behind false

. panels on a Venezuela-bound

truck. |

The US Drug Enforcement
Administration still has about
10 agents in Venezuela, but
their operations have been
restricted since Chavez sus-
pended formal cooperation in

August 2005, accusing the’

DEA of being a front for espi-
onage.

The break with the DEA
came shortly after the dismissal
of Camero, the Venezuelan
anti-drug official, who had
worked closely with the agency.

She told the AP she had sub-
mitted five reports on high-lev-
el drug corruption to the presi-
dent and vice president, finger-
ing police, military and Nation-
al Guard officers, customs
agents and even two state gov-
ernors. She would not name

ah Err ote
wo ae

coordination .

_(AP Photo/ U.S. Coast Guard)

names publicly, saying she fears
revenge.

Camero said she was told
Chavez never saw her reports.

Two senior Colombian police
officials told the AP that sthe
drug bosses who call Venezuela
home include Wilber Varela,
for whom the US government
has offered a US$5 million
reward. They spoke on condi-

eM Deserves Rewards

Introducing the FirstCaribbean Senior Accounts.

tion of anonymity, citing politi-
cal sensitivities.

Reverol responded that he’s
in daily contact with the head of
Colombia’s DAS domestic
security agency, and “‘if they tell
me today where Wilber Varela
is and I catch him, rest assured
he’ll be deported to Colombia
within 24 to 48 hours.”

The US State Department
says Venezuela has failed to
pursue major traffickers and has
arrested only low-level figures.
In September, when Chavez
extradited a man he called a top
Colombian smuggler, Colom-
bian officials said he was a low-
er-level player.

That man, Farid Feris
Dominguez, told Colombian
investigators that several high-
ranking Venezuelan officials
helped him. His lawyer told the
AP that Feris even obtained a
Venezuelan diplomatic pass-
port.

Venezuela’s justice minister,
Pedro Carreno, says authorities
are investigating Feris’ claims
but are wary he may be lying
to please US prosecutors seek-
ing his extradition.

Despite the tensions,
Venezuela continues to work
with the DEA and in March
turned over to U.S. authorities
an American wanted in South

ee he te ni nn |

Dakota for alleged metham-
phetamine trafficking.

But Camero, a former judge
and now a consultant whose
clients include the U.S.
Embassy, said drug trafficking
worsened after the 2005 dis-
mantling of a DEA-trained and
-equipped counter-narcotics
task force.

She said two 2004 seaport
busts are emblematic of
Venezuelan drug corruption: In
one, National Guard troops
were protecting a shipping con-
tainer that yielded 1,300 pounds
of cocaine in duffel bags. In the
other, they tried to keep police
from boarding a boat bearing

1,750 pounds of cocaine.

Chavez says Venezuela has
broken up links between some
military units and traffickers,
taking a hard line in discharging
and prosecuting corrupt offi-
cers.

“No one is protected here,

‘whatever the civil or military

rank,” he said, adding he is well
aware how drug mafias can Cgr-
rode any nation’s institutions.

When Chavez appointed
Reverol in February, he laid out
his orders in a handwritten note:

“War to the death against
corruption, against narco-traf-
ficking."

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Distributed by Lowe's Wholesale Soldier Road
393-7111 © Fax: 393-0440

| CRAWLING INSECTS







PAGE 14, MONDAY, JULY 2, 2007

THE TRIBUNE



CARIBBEAN NEWS



Cuba raises prices for milk and meat
as it faces drop in food production

@ HAVANA

CUBA is repaying debts to
farmers and promising higher
prices for milk and meat in an
attempt to increase flagging
food production in a commu-
nist society that depends on the
state for most of what it eats,
according to Associated Press.

It’s trying to head off a crisis
in its food system: production
dropped seven per cent last
year, imports are becoming
more expensive and consumers
complain their tiny government
salaries don’t allow them to buy
more than a few items a month
at supply-and-demand farmers
markets.

Finance and Prices Minister
Georgina Barreiro said Friday
that the state had paid off 550
million pesos ($23 million) in
débts to the small farmers and
co-operatives that grow two-
thirds of the island’s fruits and
vegetables, and renegotiated
debts worth 863 million pesos
(US$35 million).

“These debts never should
have accumulated,” Barreiro
told a National Assembly ses-
sion headed by acting president

Raul Castro.

Food production is a highly
sensitive issue in Cuba, where
shortages of everything from
meat to potatoes were common
after the collapse of the Soviet
Union and its generous subsi-
dies. Food is more plentiful
today, but Cubans still complain
that most of the vegetables and
fruits sold by private producers
are too expensive.

Cuban officials have been
unusually candid about the
problem in recent weeks, with
vice-president Carlos Lage com-
plaining to municipal leaders
that food “production is insuf-
ficient and commercialisation is
deficient.”

The government in recent
weeks has instituted a new
billing and payment system in
which banks must pay produc-
ers immediately. Lawmaker
Orlando Lugo, president of the
National Association of Small

Farmers, said more than half of

Cuba’s 3,500 co-operatives are
using the new system or are
about to start.

“The producers are in much
better spirits,” he said at Fri-
day’s session.

eft, talks with his iranian counterpart

Meanwhile, the ministries of
agriculture and sugar, along
with provincial and municipal
leaders, have been ordered to
create tracking systems to make
sure payments to the small
farmers and co-operatives don’t
fall behind again.

And parliament on Friday
agreed to pay producers 2 1/2
times more for milk and meat
included in the island’s heavily
subsidised ration program and
in meals provided at similarly
low-cost workplace cafeterias,
schools, hospitals and commu-
nity centers. The prices con-
sumers pay will remain the
same.

The co-operatives and small
farming enterprises were creat-
ed in 1993 when the govern-
ment restructured its centralised
food system, breaking up big
state farms into smaller units
owned and managed by work-
ers. Smaller parcels went to
individual farmers.

Less than 15 years later, more
than. 150,000 individual farmers
and agriculture co-operatives
now, produce two-thirds of the
country’s food using just a third
of the island’s workable land.



fahmoud

Ahmadinejad during during their meeting, in Tehran, Iran yesterday. An unidentified translator

sits at centre.

NT EY) ee ete
tM i heey Le de

Keep the package and
receipt, call 380-8000 and

enter to win one of 27 gift packs
Tate Roi moa La) aC Cu ElCle

(AP Photo/Vahid Salemi)



i CUBANS buy onions and plantains at the government-organized produce fair in Havana

" yesterday

State farms work the rest.
After meeting state quotas,
the farmers can sell the rest of
their goods at farmers markets.
Cuba has more than 300-mar-

kets, including about 50 in
Havana.

But Cuba is a long way from
becoming self-sustaining. The
country spends US$1.6 billion

“

(AP Photo/ Javier Galeano)

a year importing food, about a
third of it from the US. Even
82 per cent of the food sold at
subsidised prices on the ration
system is imported.

Iran says Venezuelan president's
visit will strengthen their ties

@ IRAN
Tehran

IRAN’S foreign ministry
spokesman said Sunday that
Venezuelan President Hugo
Chavez’s visit to the country
would further strengthen rela-
tions between the two nations.

Under pressure from the US,
Iran and Venezuela have
improved their bilateral ties,
and Chavez has defended Iran’s
nuclear development, dismiss-
ing US concerns that Tehran is
covertly developing weapons.

“Political interests and close
regional and international

ot aK Supercenter, City Market & Kelly’s.

stances are among the impor-
tant factors that help to contin-
ue this cooperation, closely,”
spokesman Mohammad Ali
Hosseini Hosseini told reporters
Sunday during his weekly press
conference.

Chavez arrived in Iran on
Saturday as part of a three-
nation tour after stops in Russia
and Belarus, and is scheduled
to meet with Iranian leaders,
including President Mahmoud
Ahmadinejad. His visit is the
third to Iran in the past two
years and the sixth since he
came to power.

Hosseini said Iran and

Venezuela would sign some 20
memorandums of understand-
ing in different fields during
Chavez’s visit, although he did
not provide further details.

Iran’s state-run television said
the two countries would sign
agreements on the construction
of a 7,000-unit housing project
and an artisan school; both, in
Venezuela.

Iran has partnered with
Venezuela on several joint
industrial projects. in the South
American nation, including the
production of cars, tractors and
plastic goods, the television
added.

Listen for your name on

: 100Jamz or Love97
during their morning show

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TMONDAY, JULY 2, 2007

SECTION



business@tribunemedianer Miami Herald Business, Stocks, Analysis, Wall Street



‘The Tribune

USINESS







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ColinaImperial.

Confidence For Life





Companies engaged in
‘inter-island pillaging’

* Chamber president warns competition for best Bahamian staff leaving firms unable to meet needs of anchor projects
* ‘Huge voids’ being created in small and mid-sized firm structures, with nothing
done to address unemployed and ‘unemployable’ issues
* Staff losses making companies reluctant to make training investments

@ By NEIL. HARTNELL
Tribune Business Editor

usinesses are engaged
in “inter-island pillag-
ing” of each other for
the best employees, the
Grand Bahama Cham-

ber of Commerce’s president has
warned, with multi-million dollar
investment projects increasingly leav-
ing “huge voids” in mid-sized and
small Bahamian firms’ staff by attract-
ing away their most qualified workers.

Christopher Lowe, a senior execu-

(Freeport), said the number of resort
projects coming on stream was con-
tinuing to increase competition for
the scarce pool of well-trained, qual-
ified Bahamian workers, putting pres-
sure on salary and benefit levels.
While increased foreign direct
investment and resort developments

appeared beneficial on the surface,
Mr Lowe pointed out that they did
nothing to reduce unemployment or
tackle the growing number of
Bahamians deemed “unemployable”.
This was because these develop-
ments were targeting - and hiring -
the best Bahamian staff from exist-

ing businesses, leaving these firms
-with the problem of finding and train-
ing replacement.

Given the scarcity of qualified
workers, Mr Lowe said the labour

SEE page 7

tive with wholesaler Kelly’s

$26m tourist marketing Former John S$ George head eyes Exuma acquisition
budget ‘not enough’

@ By NEIL HARTNELL
Tribune Business Editor

THE Government has been
urged by a former minister of
tourism to increase the $26 mil-
lion annual marketing budget
allocated to the industry, argu-
ing that the Bahamas will oth-
erwise lost its competitiveness

and that all other islands and -

properties will become over-
shadowed by the Atlantis
brand. —

Obie Wilchcombe, speaking

SEE page 8



_| Ml WILCHCOMBE

My
id
{i

‘

Emerald Bay to cause
‘negative ramifications’
for foreign investment

@ By NEIL HARTNELL
Tribune Business Editor

THE Four Seasons Emerald
Bay resort’s descent into
receivership is likely to have
“negative ramifications” for
foreign direct investment in the
Bahamas and its hotel industry,
analysts have told The Tribune,
and cause developers to
reassess their development
models for Family Island

resorts.

Simon Townend, the
Bahamas-based partner and
regional director of KPMG’s
corporate finance arm, said
potential investors and
financiers of Bahamas-based
resort developments, especial-
ly those in the Family Islands,
were now likely to do careful

SEE page 9

Bahamas investor
given prison time

@ By NEIL HARTNELL

Tribune Business Editor

@ By NEIL HARTNELL
Tribune Business Editor

FORMER John S George chief execu-
tive Ken Hutton is already looking around
for new acquisitions just after the private
equity group he formed sold the Bahami-
an retailer, sources have told The Tribune,
his latest target being a standalone Exuma-
based grocery store.

Multiple sources told this newspaper

that Mr-Hutton was currently trying to’.

put the financing in place to acquire Exu-
ma Markets, one of that island’s major

qu

alth Insurance

THE DAVIS FAMILY

Exuma

supermarket/grocery stores, based on the
Queen’s Highway in Georgetown.
Exuma Markets, in addition to capturing
most of the foods/groceries business from
the island’s residents, is also said to do a
thriving trade with the boaters who anchor
off George Town throughout the year. |
The store had relatively little direct com-
petition on Exuma until last year, when
the Emerald Isles Supermarket, owned
by the Bowe family, opened in the Emer-

ald Bay Shopping Centre near the resort.:
Exuma Markets is understood to be |

owned and operated by the Minns family,

“Abaco

*Freeport °

Mortgage Lending | Retirement Planning

Mike Minns and his wife, Sandy, and God-
frey Minns.

One source said: “They were trying to
sell it [Exuma Markets].” It is understood
that the family have been unsuccessful in
attracting a management team to Exuma
to try and run the store for them.

Mr Hutton told The Tribune: “No com-
ment”, when contacted by this newspa-
per about the potential deal.

The former Freeport Concrete chief

SEE page 8 |

Cayman



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a solid financial foundation and

customized advice, their choice is
Colinalmperial.

AN INVESTOR in a proposed Bahamas-based resort pro-
ject has been sentenced to five years in prison in the US for
corruption relating to how he used his postion as Palm Beach
County Commissioner to enrich himself via a series of land
deals.

Anthony Masilotti pled guilty to using his post to enrich him-
self and his family, advocating and voting on land deals without
disclosing his secret interest and potential gains from the trans-
actions to the Broward County Commission and the public.

He “netted millions of dollars”
from the transactions, and was
ordered to forfeit two real estate

242.356.8300

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PAGE 2B, MONDAY, JULY 2, 2007

UT) Sts)

THE TRIBUNE





Sprucing up your firm’s

‘window to the world’

our website is

your window to

the world. Creat-

ing a quality web-
site for yourself will take time
and effort. There are billions
of websites out there, many
of which are of questionable
quality. Having a website
may level the playing field,
but getting it wrong will
count against you. Here are
six steps to getting going:

The first step is to Decide if
you Need a Website. The
answer has to be ‘Yes’. As
more and more customers go
online, having a website is

the way to go. They can be
cheap to create, and your
Domain Registration compa-
ny may offer simple five-page
websites for free or a very.
small cost.

The second step is to Set
your Objectives. Think about
what you want to achieve.
What is your website going to
be used for? There are gener-
ally three things it can be
used for: _

* To provide information
and pictures of your products
to your customers.

* To acquire a list of poten-
tial customers to upsell or sell

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It could also be a combina-
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your.website supports your
business objectives in your
business plan.

The third step is to Know
your Audience. Just like

advertising, the content and
style of your website needs to
be relevant to your cus-
tomers. Your website is one
large advert, and the image

The style and content will be
different if you are selling
holidays to Silver Surfers or
music downloads to Genera-
tion Xs.

The fourth step is to Have
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You should try to capture



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you project will be important.

their name and e-mail. A
good way of doing this is by
providing a free newsletter, a
membership scheme that
offers discounts, or by e-mail
alerts. You should also try to
give them many opportuni-
ties to purchase on different
pages of your site.

The fifth step is to Decide
your Commitment Level.
Your website will require
constant attention to keep it
fresh, and update content.
Delegate this if you have not
got time to do it, otherwise
your website will quickly go
stale.

The sixth step is to Decide
on the Design. Find sites that
you like, which are easy to
use and simple, with clear
design, and copy them.
Design and presentation is a
movable feast, so keep your
eyes open to what is new in
the industry, and what works.
Frames and flash are a bit old
hat, so use them sparingly.

The seventh step is to
Write your Content. Either
write it yourself or subcon-
tract the content for your
pages, affiliate programmes,
auto responders, newsletters
and e-mails.

Once you are clear as-to------

your purpose, your audience
and what you are going to do
with your visitors, here are
tips to make your website
best of breed:

Tip 1: Make your website
sticky and interesting, fun to
use and engage the visitor to
remain on your site and come
back often by either giving
away your knowledge
through eBooks and regular -
newsletters, or getting your
visitor to.do things on your
site, such as enter competi-
tions or vote.

Tip 2: Keep it up to date
and keep content fresh. Try
to do this on a weekly basis,
so that each time your view-
ers come they will find some
new information, articles or
posts. If your content changes
frequently, think of imple-
menting a ‘What’s New’ sec-
tion.

Tip 3: Make it quick,
because even with broadband
speeds, web users are notori-
ous for their impatience and
will move quickly to another
site if yours takes ages to
load. Make sure you keep
images small, use a sequence

For the stories
behind the news,

read Insight
on Mondays





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

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

Share your news

of smaller images rather than
one big one, and avoid
overblown flash introduc-
tions as these are definitely
old hat.

Tip 4: Make it bug free.
Just like the real world,
things will go wrong with
your website. Test it, test it
and test it. Be proactive in
restoring missing links that
go to a wrong page, or result

’ in an error message, and

make sure you correct typos,
poor grammar and sloppy
sentence construction. These
bugs will frustrate your view-
ers and give your website an
unprofessional look.

Tip 5: Make it easy to navi-
gate, as nothing will turn off
your visitors more than a dif-
ficult site to navigate. They.
need to get to wherever they
want in three clicks.

Make sure you create tabs
on each page for Home Page,
Privacy Policy, Terms and
Conditions, Product Info,
Buy Now, Free Trial, FAQs,
Help, Special Offers, What’s
New etc. Make sure you pro-
vide a Site Map so that your
visitor is appraised of all your
pages.

Avoid closely packed text
that is hard to read. Avoid
-having-pages that you need to
scroll down, which are too
long to read on your screen
unless you are preparing a
one-page sales letter type
web page. And finally, use
‘Coming Soon’ instead of.
‘Under Construction’ for in
progress content.

Tip 6: Make it easy to
order by providing clear
information on the benefits
and features of your product,
and by using ‘More Info’ and
‘Buy Now’ buttons. Try offer-
ing a free trial of your prod-
uct if possible. Allow shop-
pers to order from your web-
site, and also give them the
opportunity to order by
phone or fax, so make your
contact details easily avail-
able to them. :

Creating your website will
take much thought. Don’t be
an antipreneur and ignore
the steps and tips to make
your website something you
will be proud of. Make sure
that you spend sufficient time
on this area, as it will pay
large dividends for your
future business success.

NB: This column is avail-
able as an eBook at
www.antipreneurship.com

Mark draws on 20 years of
top level business, marketing
and communications experi-
ence in London and the
Bahamas. He is chief operat-
ing officer of www.ezpze-
mail.com, currently lives in
Nassau, and can be contacted
at markalexpalmer@mac.com

© Mark Palmer. All rights
reserved

















BUSINESS

Ghe Hiami Herald rf q MONDAY, JULY 2, 2007

WALL STREET

3B

INTERNATIONAL EDITION

Investors hesitate to back private equity deals

BY JOE BEL BRUNO
Associated Press

NEW YORK — Buyout king
Henry Kravis calls it “the golden age”
of private equity, a period where
opportunistic Wall Street bankers
snagged iconic names like Toys R Us,
Chrysler and Neiman Marcus in mul-
tibillion dollar deals.

Leveraged buyouts are on track to
surpass $1 trillion this year, a reflec-
tion of private equity’s growing influ-
ence on the world’s business culture.
Private equity has helped make very
rich men out of dealmakers like
Kravis and Blackstone Group’s. Ste-
phen Schwarzman, who earlier this
year threw himself a $3 million birth-
day bash with Rod Stewart as the
entertainment.

There are growing signs that the
buyout party might be ending. After
nearly two years of record acquisi-
tions, private equity is facing chal-
lenges at almost every turn — from
lawmakers questioning tax structures
to investors reluctant to buy into

bloated financing plans.

“For years, private equity has had
a walk in the park,” said billionaire
financier Carl Icahn, a takeover spe-
cialist known for his runs at RJR
Nabisco and TWA. “It’s peaked. But,
I don’t mean these guys won’t make
money.”

Icahn, speaking at a conference in
New York recenlty, said private-eq-
uity firms have enjoyed easy access
to financing, and struggling compa-
nies actively hunted for buyers. Pri-
vate equity shops acquire companies,
ostensibly to turn them around as
private entities and then cash in by
selling or bringing them public.

At first glance, the industry still
seems to be doing well. General
Motors a few days ago agreed to sell
its transmission unit to private equity
firm Carlyle Group and Canadian
investment firm Onex.

But the market has resisted a
string of recent debt offerings, in part
because fallout from subprime mort-
gage defaults has caused some inves-

tors to chase safer bets. An estimated
$3 billion of debt sales were pulled
this week, according to Thomson
Financial.

On Friday, Blackstone and Lion
Capital were said to be having prob-
lems unloading $259 million of loans

_to acquire soft-drink maker Oran-
gina. Dutch supermarket group Royal
Ahold had difficulties selling $650
million of bonds as part of the sale of
its U.S. Food Service unit to a group
of buyout firms led by Kohlberg
Kravis Roberts.

Meanwhile, reluctance about
credit and debt spilled into the U.S.
junk bond market. Canada’s Catalyst
Paper abandoned a $200 million
high-yield bond offering because of a
more skeptical market.

Goldman Sachs Chief Executive
Lloyd Blankfein said at an investor
conference that the investment bank
“remains at a high state of nervous-
ness.” The biggest anxiety is that the
debt markets will tumble, causing
borrowing costs to grow.

“The biggest risk we face is a cri-
sis in the credit markets,” he said.
“When you think of the wealth cre-
ated over the past five years in differ-
ent sectors, much of it was driven or
helped by the low level of interest
rates and the tightness of credit
spreads.”

Investor uncertainty about bor-
rowing costs, considering supreme
difficulties, has led to tremors on
Wall Street. Bear Sterns has been the
most high-profile casualty after it
was forced to rescue one of it’s hedge
funds that lost value because of
wrong bets on the mortgage market.

Private-equity firms might be a lit-
tle worried about their ability to raise
money in the equity markets after
Blackstone’s recent initial public
offering. The New York-based firm
raised $4.1 billion after floating its
management partnership.

Though shares surged 13 percent ~

on its first day of trading, it has since
dropped to below the $31 offering
price.

The deal was thought to be a blue-
print for how others could raise more
capital. ;

Investors originally seemed eager
to get in on the Blackstone deal, even
though they’d have little voting rights
and no direct connection to the
firm’s portfolio of companies and
real estate holdings.

Carlyle on Thursday cut the size
of a planned IPO of a fund that
invests in mortgage-backed bonds
because there was lack of interest —
trimming the offering by 25 percent
to $300 million.

Even if firms like KKR or Carlyle
decide to pursue a U.S. listing, there
is still the subject of how they would
be taxed. Lawmakers are trying to tax
buyout firms as companies instead of
partnerships — a step that could dou-
ble the amount they pay the govern-
ment.

But industry insiders believe —
even if Blackstone fell flat — private-
equity firms will need to go public to
survive long term.





i
j
j



POWER SHORTAGE:
“Argentina has
cut natural gas

exports to keep
more at home.

President Néstor

Kirchner has
periodically
employed this
strategy since
2004, when he
angered Chile by
violating an
export contract.
A man, left,
overlooks
electric towers in
the Atacama
desert of Chile in
2004.

CARLOS BARRIA/REUTERS FILE

Frustration grows in

BY MONTE REEL
Washington Post Service

BUENOS AIRES — At the height of rush hour,
Luis Ibanez parked his taxi in the middle of the
busiest intersection of this city, got out of the car
and stood cross-armed in the street as traffic
jammed around him.

Dozens of other cabdrivers joined him, pro-
testing a national shortage of compressed natural
gas — the primary fuel for the vast majority of
taxis here. As winter approached in the Southern
Hemisphere, the Argentine government cut nat-
ural gas supplies to service stations and indus-
trial users in mid June. It was a temporary mea-
sure to ensure that there would be sufficient fuel
available to heat Argentine homes later that
month.

Falling temperatures have exposed weak
points in an Argentine economy that boasts 9
percent annual growth, lowered unemployment
and rising salaries. In addition to the-shortage of
natural gas, Argentina recently has faced short-
ages of some agricultural goods, including milk
and other dairy products. Now, many econo-
mists — and a growing number of people in the
streets — are questioning the inflation-control
policies of President Néstor Kirchner.

“How can a government not be prepared for
the cold?” asked Ibanez, while city buses and
commuter vehicles idled around him. “They
never prepare for anything, they don’t invest in
the country, and the people need to know that
there are consequences.”

With a presidential election set for October,
tensions between market forces and the political
pressure to keep consumer prices low have
become impossible to miss — even without the
spotlight of rush-hour protests.

“It’s hard to find milk on the shelves now, and
that affects everyone,” Maria Laura Gonzales, 30,
said after shopping at a Buenos Aires market last
month.

Gonzales blames dairy companies for the milk
shortage. Government officials blame a recent

ECONOMY

A /

ei

eX
| PR sof






- drought. But dairy producers and many econo-

mists say government-imposed price caps have
compounded the problem by sapping corporate
incentive to invest in production.

Such price controls are also taking much of
the blame for the recent energy problems. Twice
in June, more than 700 service stations around
Buenos Aires were ordered to stop pumping
compressed gas. Analysts say the cuts were a
result of pricing controls instituted in 2002 that
have encouraged consumption and discouraged



NATACHA PISARENKO/AP FILE

EMPTY TANK: A taxi driver who ran out of
fuel pushes his car while he waits in line
at a compressed natural gas station in
Buenos Aires. In addition to a national
gas shortage, Argentina has recently
faced shortages of agricultural products,
such as milk.



Argentina

industry investment'in infrastructure improve-
ments needed to boost production.

Periodic energy shortages are common in
many countries at peak times of the year, but
Argentina’s came at the year’s first cold spell,
before winter officially began. The country has
already cut natural gas exports to keep more gas
at home — a strategy that Kirchner has periodi-
cally employed since 2004, when he angered
neighboring Chile by violating a contract prom-
ising exports. Even so, production continues to
lag behind demand.

Some economists warn that the valuable eco-
nomic gains the Kirchner government has
achieved in recent years could erode signifi-
cantly if industries continue to endure costly
power cuts.

“In the energy sector — because investments
take so long to be completed — long-term plan-
ning is needed,” said Sophie Aldebert, a South
American analyst for Cambridge Energy
Research Associates in Rio de Janeiro. “But in
Argentina there is no long-term plan for energy,
and they don’t have the regulatory stability to
attract the investment that’s needed.”

Though it is less than four months away, the
Argentine presidential election has not begun in
earnest yet. Kirchner has not announced
whether he will be his party’s candidate or
whether his wife, Cristina Fernandez, will take
his place on the ticket. Early polls have suggested
that either would defeat the main opposition
challenger, former economy minister Roberto
Lavagna, though the president would prevail by a
wider margin than the first lady would.

“Time plays in President Kirchner’s favor,”
said Federico Thomsen, a political and economic
analyst in Buenos Aires. “The shortages have
become more noticeable to the layperson now,
but so far no opposition candidate has been able
to capitalize on that. So for it to really have an
effect on Kirchner or his wife, something
extreme would have to happen between now and
then.”



WORKPLACE

failure into
By JOANN S. LUBLIN
The Wall Street Journal

Nobody likes working on a project
headed for failure. But almost every-
one lands some such dreaded tasks.

A whopping 78 percent’of 589 pros

oie ofessionals«and«managers ‘surveyed
| say, they’re now involved) in ‘at least
“one project they expect will fail to’)

produce its advertised results, con-
cludes a recent survey by VitalS-
marts, a corporate-training firm in
Provo, Utah. Another surprise find-
ing: 61 percent say they knew an
unsuccessful prior project would flop
before its launch or soon after.

“When you're assigned to a pro-
ject that seems bound to bomb, you
are playing a high-stakes game,”
warns Linda Dominguez, an execu-
tive coach in Coarsegold, Calif.

Yet, you can minimize the career
damage and maximize the benefits
from accepting a doomed gig. “Get-
ting involved in a high-risk, high-fail-
ure situation is a way to make a name
for yourself,” says Laurence J. Stybel,
co-founder of Stybel Peabody Lin-
colnshire, a Boston leadership con-
sultancy.

For starters, ask trusted associate
whether you landed the assignment
for punitive or positive reasons.
Senior officials may “want to push
you out,” Dominguez observes. Or,
she adds, they may “think you’re the
one who can make it work.”

It would help to give higher-ups a
well-documented explanation for
why you believe your project won’t
succeed — along with a persuasive
substitute strategy. More than 80 per-
cent of individuals polled by VitalS-
marts said a flop might have been sal-
vaged, except the key decision maker
was difficult to approach. |

“Make sure you are crystal clear
with your boss about your conclu-
sions” without exaggerating the
impact of failure, recommends
Joseph. Grenny, co-chairman of
VitalSmarts. At the same time, “dis-
cuss the alternatives with other team

- members to get their feedback,

buy-in and ideas” before presenting
them to your superiors, suggests Ste-
fanie Smith, a New York manage-
ment consultant and executive coach.

Your alternate scenario should
make the top brass look better. A
senior project manager at a grocery
chain joined an effort to automate its
store-shelf tagging system. The pro-
ject, bogged down after 18 months of
planning, seemed doomed.

The new manager faced an impos-
sible deadline: Roll out the new sys-
tem at the chain’s 120 stores within
six months.

She identified 45 stores that had

the most to gain from improved tag-
ging and installed the system there
six months later. “That saved face for
the retail division vice president
overseeing the project,” she explains.
He didn’t object when the full rollout
took a year.

The electronic tags saved about
$500,000 in staff costs.

But, even if you can’t rescue a
flawed project, it could raise your
visibility and credentials.

Bs








__INTERNATIONALEDITION MONDAY, JULY 2, 2007 #B

THE MIAMI HERALD | MiamiHerald.com



SMALL BUSINESS

It’s time for a midyear checkup, planning

BY JOYCE M. ROSENBERG
Associated Press

Small-business owners who
are lucky enough to have some
down time in the next few
weeks should use it for a mid-
year financial checkup and to
tick some other chores off
their to-do list.

Accountants and tax pro-
fessionals say the summer is a
good time to take stock of a
company and see whether it’s
meeting its goals and whether
there’s enough cash on hand
for tax payments.

It’s also time to make deci-
sions about equipment pur-
chases and other capital
spending for the second half of
the year.

“You want to assess; are
you making money or are you
losing money?” said Barbara
Weltman, a tax attorney in
Millwood, N.Y., and author of
J.K. Lasser’s Small Business
Taxes.

EARLY WARNING HELPS

This may sound overly sim-
plistic, but tax professionals
say many owners really don’t

know where their companies
stand, and those who are los-
ing money need to find that
out fast and start making
changes. Companies that are
doing well should probably
start thinking about their
options — for example, should
the owner or owners with-
draw money or leave it with
the business to fund its future
growth? :

There are also tax reasons
for a midyear checkup. Noting
that sole proprietors have two
estimated tax payments to go
for 2007, due Sept. 15 and Jan.
15, Weltman said, “You don’t
want to be overpaying or
underpaying.”

TAX CONCERNS

Stephen Fishman, an attor-
ney and author of Deduct It!
Lower Your Small Business
Taxes, reminded company
owners “if you don’t pay
enough estimated tax, you’ll
have a big tax bill next April. A
lot of self-employed people
forget about that.”

But a midyear look at the
business by necessity needs to

‘This is a great time of the year to schedule an
appointment with an accountant, during the
summer months, when it’s slow. It’s a good
time to speak with all your advisors, insurance

agents and lawyers.’

- BARBARA WELTMAN,

a tax attorney and author of J.K. Lasser’s Small Business Taxes

go beyond profits and tax pay-
ments; those numbers will in
the end depend on what your
company hopes to achieve in
the months ahead. Weltman
said of business owners, “you
should be doing strategic plan-
ning, long-range thinking

- about things, redoing your

business and marketing plan-
ning.”

That long-term planning
should include a look at your
capital spending, particularly
whether you'll want to buy
new equipment. Small busi-
nesses have a unique opportu-
nity to save on their income
taxes when they buy certain

equipment — such as comput-"

ers, vehicles, manufacturing

machines or office furniture —
and claim the expenses under
what’s known as the Section
179 deduction. This provision
of the Internal Revenue Code
allows a small business to
deduct upfront $125,000 in
equipment bought and put
into service during 2007 rather
than depreciate it over a
period of years.

But just because a big tax
deduction is available doesn’t
mean a business should plunge
headlong into a purchase. An
owner needs to ask not only if
it makes sense to buy the
equipment, but also if it makes
sense to buy it in 2007. If it
looks like 2008 is going to be a
more profitable year, it might

be better to defer the purchase
until January.

You might find it’s best to
make such decisions with the
aid of an accountant or other
financial advisor.

Weltman noted, “This is a
great time of the year to
schedule an appointment with
an accountant, during the
summer months, when it’s
slow. It’s a good time to speak
with all your advisors, insur-
ance agents and lawyers.”

Many accountants will call
or e-mail their clients at this
time of the year to remind
them that it’s time for a
checkup.

GET A RETIREMENT PLAN

A visit with a financial advi-
sor will almost certainly
include a discussion of retire-
ment plans.

Both Fishman and Weltman
said many small business own-
ers keep putting off setting up
or contributing to plans such
as Simplified Employee Pen-
sions (SEPs).

If youre thinking of setting
up a retirement plan, an



ELECTRONIC CARTOGRAPHY

URBAN
NAVIGATORS

BY BRIDGET CAREY 5 fe
LE VENEERS NAVTEQ is SO large it’s Bacay aie
Next time you get high-tech Microsoft of navigation data, and it’s still

driving directions , you can
thank Debra Bonde and Brad

growing. Its second-quarter revenue was up

Estrada for not getting lost. = 3() percent to $159.9 million, and profit nearly
They are geographic ana-
lysts with NAVTEQ, the com-

pany that provides mapping.

data to just about every major
driving direction company. °
More than 100 companies
and government agencies use
NAVTEQ, including MapQu-
est, Google, Yahoo!, Garmin,
Tom Tom, Magellan, Motor-
ola and Verizon. Chances are
if you’ve ever needed a map
online, in the car, or on your

doubled, to $30.2 million.

the nonprofit Geospacial
Information’ & Technology
Association.

“Every kid knows what GPS
is and definitely every kid
knowns what Google Earth is,
it’s a pretty fun thing to do,”
Samborski said. “Very few
people outside the geospacial

Within a few years, he said, ‘
_maps will be updated in real

time with more and more
detail. 1

“Pick a house in San Diego
and watch the mail being
delivered,” he said.

Some are already updating
traffic conditions in real time,



important reason to start talk-
ing now with a financial pro-
fessional is that you have until
Oct. 1 to create what’s known
as a SIMPLE plan, or Savings
Incentive Match Plans for
Employees. They are more
complex than SEPs, but they
might be more appropriate for
your company.

“Don’t wait until the last
minute,” Fishman advised,
reminding owners that “you
don’t have to pay tax on the ,
interest you make all year.”

Another financial house-
keeping chore that owners
should consider during the
summer is switching to
accounting software if they’ve
been keeping their records on
paper, or changing accounting
programs if they’re not happy
with the applications they’re ° -
currently using. a

It also might be a good time;
to get some renovations or ©
other work done to your office «'
or physical plant, especially if
you'll have staffers who are on 1!
vacation and less likely to be '
inconvenienced or irritated by*/
construction work. ve

,

—

cellphone, you’ve used NAV- industry would know that it is - such as.Microsoft and Google. q
TEQ’s data. part of an industry.” MapQuest, which uses a com-
The company is so large it’s bination of data from NAV- }
RAISE AWARENESS

practically the Microsoft of
navigation data, and it’s still
growing. Its second-quarter
revenue was up 30 percent to
$159.9 million, and profit
nearly doubled, to $30.2 mil-
lion.

Bonde and Estrada recently
finished reviewing the
addresses around the homes
on the Venetian Islands in
Florida, but their work to
update and review the streets
never ends.

Estrada drives and Bonde
sits in the passenger seat
recording information on a
touch-screen pad on her lap.
The laptop along with the
other equipment is locked up
in the back of the SUV while
the screen shows where they
are on the road and where
they’ve been. Using a stylus,
Bonde scribbles on the map of
things to change, such as a
street sign with a slightly dif-
ferent name, and if a road
curves and changes directions.
She’ll also mark the numbered
addresses of every corner.

Her screen is full of icons
that note different road traits,
such as how many lanes a road
has and which direction it
travels.

NAVIGATION

Aside from avoiding the
occasional dump truck or tren-
cher blocking the road, navi-
gating around the homes and

The organization has
started a government-funded
project to raise more aware-
ness of this field, called GIWIS
(Geospacial Industry Work-
force Information System).

“The jobs in this field are
lacking people, and there’s a
huge concern,” he said. “Our
employers can not find
enough people to do this
stuff.”

Bonde has been working
with NAVTEQ for 12 years
and although it might be hard
to believe, there was a time
when this work had to be done
without GPS. .

“I’ve seen the technology
come from paper plots and
just following along on the
paper plots from link to link
writing down information
without any of the tools that
we have,” Bonde said.

Before laptops and satellite
images, geographic analysts
had to rely on what they called
cartooning in geometry based
on photos taken from above.

“T actually have a degree in
cartography from Wisconsin
and when I graduated there
wasn’t even a computer-gen-
erated cartography course,”
Bonde said.

The industry is so fresh that
last year there was no defini-
tion of “the geospacial indus-
try.” Is Google Earth part of
the industry? Some would say

making notes about signs went yes, some wouldn’t. And with-
pretty smoothly for the duo. out definition, organizations
What makes their job difficult like GITA are just begining to

are gated communities.

“Collier County is particu-
larly difficult in getting into
gated communities without
permission,” Bonde said.

But as driving direction ser-
vices become more common,
Bonde said most places are
more willing to give them
access to update the data for
the neighborhood. j

And when they can’t get in,
there are other ways to
update, such as using aerial
photography.

Jobs like theirs are in high
demand now as the industry is
growing fast, said Bob Sam-
borski, executive director of

find ways to measure itself.

“It’s evolved so quickly and
so massively, everyone was
just trying to keep up with the
technology,” Samborski said.

And because the technol-
ogy is advancing so fast, there
is growing potential for mis-
use, Samborski said. The
recent unveiling of Google
Maps’ Street View shows
images of people on the street,
some in unfavorable poses,
which brought up discussions
of privacy rights.

“Our court system and our
laws are not keeping pace with
the evolution of the technol-
ogy,” Samborski said.

TEQ and it’s competitor Tele
Atlas, is working on adding a
feature that will show traffic
accidents and give route sug-
gestions on how to avoid acci-

dents, spokeswoman Dori Sal-

cido said.

As of now, most of the
attention is on expanding in
cellphone navigating services
and doing more than just get-
ting from point A to point B,
but rather showing where the
closest shoe store is between
point A and B.

But the potential of how
fast the industry grows is only
limited by a programmer’s
imagination, Samborski said.
“You could literally save the
world with this stuff.”



input device).

Ay reenET eT ma tt
Poe p Cadena O08

and other services.

ee a

a
“6 & &
a

maageey PRL

9 20

‘id

IN FOCUS: Debra Bonde adjusts a windshield-mounted video camera to gather video *
and navigation data for Navteq’s map database, which is used by MapQuest, OnStar . .

pes

&
GAATES 5

Waser & OOPS



PHOTOS BY JOHN VANBEEKUM/MIAMI HERALD STAFF
MAP MAKING: A dash-mounted screen shows a Navteq map database with handwritten notations (from a tablet



ee ae



SE SD

ST a a

3ST Ss es eT OY ww



=«

&



THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 5B





Miami-Dade chie
Bahamas can be
more than No.18

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

he Bahamas was
the 18th leading
trading partner for

the City of Miami in ©

2006 despite its relatively small
population size, a government
minister said, with trade
between the two totalling $1.2
billion in 2005.

Welcoming a delegation
from the Jay Malina Interna-
tional Trade Consortium of
Miami Dade County, which
was visiting Nassau to discuss
the expansion of trade oppor-
tunities between the Bahamas
and Florida, Branville McCart-
ney minister of state for
tourism and aviation, said the
potential for trade between the
two was limitless.

Mr McCartney said: “In
2005, just two years ago, the
Bahamas’ total trade with Mia-
mi was $1.2 billion. This is an
amazing figure, given the scale
of the Bahamian economy.

“Furthermore, more than
half of our country’s trade with
the United States moved
through the Miami Customs
district, and it is significant that
the islands of the Bahamas,
with only 300,000 residents,
registered in 2006 as the 18th
leading trade partner of Mia-
mi.’

Mr McCartney said tourism
was one industry that could
mutually benefit the Bahamas
and Florida.

“There are opportunities to
work toward offering dual des-
tination vacations, in which
travellers can experience the
vibrancy of Miami- Dade and
the tranquility of a Bahamian
Out Island experience in one
package,” he added.

Mr McCartney said there
had been some progress made
in film industry collaboration
for multi-location films.. The
Bahamas Film Commission,
which is a unit within the
Banb2.nas Ministry of Tourism,
has been in talks with the Flori-
da Film commissioners in this
regard.

“Grand Bahama has the
only ocean water film tank in
the Caribbean, and Florida
allows for the filming of ocean
scenes in a controlled environ-




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Nation is Florida’s ninth largest trading
partner, with $1.2bn passing between
here and Miami in 2005

ment,” he added.

Zhivargo Laing, minister of
state for finance, told the US
companies that if the hopes
and dreams of Bahamians
were to-be realisied, it rests
squarely on the Government
to ensure they sustain, engage
and expand commercial oppor-
tunities for Bahamian and
internationally-owned busi-
nesses in this nation.

“We never take our rela-
tionship with you lightly. It is
our fullest intent to maintain
the freeest enterprise in this
country and provide expand-
ed. opportunities for Bahami-
ans to access whatever busi-
ness opportunities exist in
Florida and the United States,
and elsewhere in the world,”
Mr Laing said. “We want to
facilitate those economic inter-
ests outside the Bahamas, and
seize economic opportunities.”

Dionsio D’ Aguilar, the new-
ly-elected president of the
Bahamas Chamber of Com-
merce, welcomed the Jay Mali-
na delegation on behalf of the
business community, and
encouraged them to explore as

many opportunities as possi-””

ble.

“We are delighted that you
have undertaken to organise
this business-to-business trade
mission to our country,” Mr
D’ Aguilar said. “We are Flori-
da’s ninth largest trading part-
ner. When considering
whether there is business to be
done here in the Bahamas,
please do ndt dismiss us as too
small. Because if you do, you
have forgotten to include the
4.6 million tourists, mostly
American, which visit our
beautiful country each year.”

David Elmo, charge d’af-
faires at the US Embassy, said
this trade mission was symbol-
ic of the strong relationship
enjoyed by the i communi-
ties.

“So much of the discussions
will revolve around business
to business, but I encourage












LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT .
(No.45 of 2000)

INSIGNIA, INC.

Notice is hereby given in accordance with Section 138 (8) of
the International Business Companies Act, (No.45 of 2000),
the Dissolution of INSIGNIA, INC. 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 the 14th day of June, 2007.

Si
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you to get personal. These ties
bind us and we have a lot to
learn from each other,” he
added.

Trading

Dennis Moss, the Miami
Dade County Commissioner,
said the Bahamas may be
Miami’s 18th largest trading
partner, and that while that
was good, it was not enough.

“We have to do better, and
when I say that, I mean that
we in Miami-Dade county
have to recommit ourselves to
make sure that we’re creating
trade and business opportuni-
ties for you here in the
Bahamas as well as Miami
Dade,” Mr Moss said.

He added that his office will



be working with the Royal
Bahamas Defence Force on a
possible venture, and with
Florida universities to provide
educational opportunities.

Mr Moss announced that
because of the Trade Mission,
they were able to provide a
scholarship to a Bahamian stu-
dent handled through the
international Trade Centre.

On Friday, the delegation,
engaged in one-on-one meet-
ings with Bahamian businesses.
Other activities included cour-
tesy calls on Prime Minister
Hubert Ingraham and the
Governor-General, a tour of
the College of the Bahamas
and the Bahamas Technical
and Vocational Institute
(BTVI), and a dinner at
Arawak Cay.

Dicoiee |







| Leandra Esfakis



Attomey
Harvey Tynes




Dr. Thaddeus
McDonald




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(Bahamas) Limited,
one of the most
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We invite outstanding
individuals, wanting to build a
career in financial management,
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team. You will interact with



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Temple Christian High

“Teach Me, O Lord, Thy Way"...Psalm 119:33

VACANCIES

Invites applications from experienced qualified Christian
candidates for the following position for the 2007-2008
‘school year.

School

Dean of Students

Applicants must: ie

A. _¢ Be a practicing born-again Christian who is willing to

subscribe to the Statement of Faith of Temple Christian
School.

¢ Have a Bachelor’s Degree in Education or higher from
a recognized College or University.

¢ Possess excellent organizational, inter-personal
communicative skills.

¢ Be able to assist with all aspects of the Administration.

* Be able to discipline, counsel students.

¢ Have high moral standards.

Teachers

Food & Nutrition (Gr. 10-12)
Art/Craft (Gr. 7-9)
Accounts/Commerce (Gr. 10-12)

Applicants must:

A. °¢ Bea practicing born-again Christian who is willing to
subscribe to the Statement of Faith of Temple Christian °
School.
e Have a Bachelor’s Degree in Education or higher from
a recognized College or University in the area of
specialization.
e Have a valid Teacher’s Certificate or ‘Diploma.
° Have at least five years’ teaching experience, three of
which must be at the high school level.
¢ Possess excellent, organizational, inter-personal comm-
unicative skills,
E e Have high moral standards.

Application must be picked up at the High School office on
Shirley Street by July 4th, 2007 and returned with the
following: a full curriculum vitae, recent coloured photograph,
church ae pastor’s name a0 three references to:

Mr. Neil Harnilton
The Principal
Temple Christian High School
P.O. Box EE-17537
Nassau, Bahamas
Deadline for application is July 13th, 2007





_ Financial Reporting Analyst

ROLE RESPONSIBILITIES

Reporting to our Country Financial Controller, the position is

responsible for management and regulatory reporting. Key

Additional

colleagues from around the

world and across the
organization and local regulatory

Interested Bahamian candidates
should forward a copy of their
resume by July 9, 2007 to:
Human Resources, Cititrust

bodies.

responsibilities include the preparation, of monthly financial
statements, profitability reports and local regulatory reporting.
responsibilities — will
reengineering efforts, unit level self-testing requirements and ad
hoc projects as assigned.

include managing process

KNOWLEDGE SKILLS REQUIRED

The ideal candidate will possess a Bachelors degree in Finance,
Accounting or related field and a minimum of 3-5 years of related

experience preferably in financial services. A professional

(Bahamas) Limited, P.O. Box N-
1576, Nassau, Bahamas OR

Fax: (242) 302-8732 OR Email:
janice.gibson@citigroup.com

designation (CPA/CA) is also required. Detailed knowledge of
local regulatory reporting requirements and GAAP,
analytical skills, attention to detail, superior.pc skills and an ability
to work under pressure with tight deadlines are also required.

strong

Challenge

yourself to a career like no other



PAGE 6B, MONDAY, JULY 2, 2007 THE TRIBUNE

CTS]

ea STWR
CWSPaper in CIFCHATION,
|
The American Embassy is presently considering applications for RY Call yy de Ae (IFILL
the following position: a

REALTY ASSISTANT
























Serves as the senior member of the GSO Housing Office working
interdependently in administering and managing the complex
legalities and details of an interagency housing pool that spans
from New Providence to Grand Bahama Island.

This position is open to candidates with the following
qualifications:

Training Officer

- An Associate Degree in the area of Business Kelly's is seeking a fully-qualified and experienced teacher to become a full-
Administration, real estate or a related field, time Training Officer for the 350 + employees in Kelly's House & Home and
Tee f ‘ ; 1 se lease? ; Kelly's Lumber. The position will demand an experienced and resourceful
: wo years ol experience in real estate leasing/contracting communicator able to motivate adults with varying educational backgrounds
required. and qualifications, and capable of devising, developing and implementing
: Must have a good working knowledge of general office on-going in-house training and development programs, with their attendant

. is testing and evaluation procedures. Such programs will include, but not
procedures, . Microsoft Office Suite. and data bas necessarily be limited to:
management.



, Orientation courses for all new employees
R : Customer Service courses for all retail employees
PERSONAL ATTRIBUTES: : Computer familiarisation courses
5 Product-specific knowledge courses for all retail employees
Must have ability to meet deadlines in a timely manner : Safety courses for drivers and warehouse/yard personnel '

and work independently with minimum supervision ; Supervisory courses for new and prospective supervisors
: Personal development courses for career advancement

The successful applicant will also be expected to develop and maintain strong
links with other providers of on-going work-related courses in specialised and

BENEFITS PROVIDED INCLUDE: 3 technical areas. Previous experience in adult education would be an asset.



This is a middle management position for an experienced and qualified

The successful candidate will be offered an excellent compensation professional educator, who is willing to demonstrate a long-term commitment
package including performance-based incentives, medical and to Kelly's development and expansion. Benefits include medical, pension, and

- oe eas ‘ Sa aa profit-sharing plans, with remuneration package dependant on qualifications
dental insurance, life insurance, pension and opportunities for and experience.

training and development.
E-mail letter of application and comprehensive resume to

Applicants must be Bahamian citizens or U.S. citizens who are ite ike ysbancinos.comiwnl sTtaipiig Cicer ge:Ub ioc,

eligible for employment under Bahamian laws and regulations. | No phone calle please
Application forms are available from 8:00 a.m. to 5:00p.m. Kelly's Houses.
Monday through Friday at the security area of the American Mell ot Morthon

§ * : r ; el: Monday-Friday 9:00am 8:00pm
Embassy, Queen Street. Completed applications should be Hepa scours eee

returned to the Embassy: addressed to the Human Resources
Office no later than Wednesday July 11, 2006.








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THE TRIBUNE

FROM page I

demands of foreign-financed
investment projects were leav-
ing Bahamian companies less
able to service their require-
ments, as they were taking
away their staff.

Mr Lowe told The Tribune
that within the past month his
company had lost three valued
employees to the Bimini Bay
Resort and the $2.3 billion
Baha Mar Cable Beach rede-
velopment on New Provi-
dence, both projects being
located on other islands.

“We had previously lost
employees to Emerald Bay,
and we had previously lost
employees to Atlantis,” Mr
Lowe said. Kelly’s (Freeport)
had lost at least five staff to
foreign direct investment pro-
jects, from specialist depart-
ments such as inventory man-
agement, warehouse manage-
ment and back office support
to sales persons.

“Far be it for me to hold
anyone back, but it leaves us in
Grand Bahama with upper ley-
el holes to fill,” Mr Lowe said.
“There’s no way companies in
the retail. wholesale and cus-
tomer-oriented businesses can
lose like that and still provide a
high level of customer service,
having these voids appear all
over our structure.

“We're moving the
employed around at a time
when worker demand has not
even increased, based on
prospective projects. It’
to get worse.’

“We're doing inter-island
pillaging,” he added of com
panies’ attempts to recruit the
best and brightest Bahamian
staff. “It’s.creating holes in the
structure at all levels of existing
employment. It is not address
ing unemployment or the
unemployable.

“It’s going to be a major
problem, but it still does not
address the unemployable fac-
tor. We have a high percentage
of unemployable people who
are going to need intensive,

; gone

engaged in ‘inter-island pillaging

rudimentary
to beco

life skills training
ployed. That is
not being addressed.

“It’s a reality. There are
unemployable people who can-
not be employed because of a
lack of basic. rudimentary life
skills. Skills related to show-
ing up on time, or showing up
at all. The life skills of our pop-
ulation don’t bear any relation
to employment demands.”

The frequency with which
top employees were leaving
meant thal many businesses
could become reluctant to
invest in staff training, Mr
Lowe said.

He added that Kelly’s
(Freeport) spent “thousands

’ of dollars” per year to train

staff, estimating that some 70
per cent of training related to
‘life skills’ and the remaining
30 per cent to specialist areas
such as product and computer
training.

Yet former Kelly’s employ-
ees who had received such
training were now at universi-
ties in New York and the Cay-
man Islands, studying clothing
design and marine biology,
while another had moved on
to become a siraddle operator
at the Freeport Container Port.

“T cannot blame them for
leaving. but what local busi-
ness is going fo put money into

ig if they keep on leav-

* Mr Lowe asked.
“They're losing the investment
on it [training |.”

Mr Lowe said he understood
why many Bahamians chose to
leave theit mid and small-sized
employers when offered posts
and oppartunities by large-
scale resorts, given the likely
attractions of a higher salary,
defined carcer path and per-
ceived job security, plus a com-
pany pension plan.

While no employer should
stand in the way of a worker
trying to advance or better
themselves, Mr Lowe said
there were consequences for
mega-resort projects them-
selves if they continued to
draw away valued staff from

-Bahamian-owned companies.

“It reduces the viability of
the support business commu-

BUSINESS

nity to even support these
mega developments,” Mr
Lowe said. “Our capabilities,
you would think, would be
growing alongside these
anchor projects, but the trend
is actually the opposite.

“The bigger they get, the less

-able we are to actually support

them.”

Just taking Grand Bahama,
that island is awaiting the onset
of Ginn Clubs & Resorts’ $4.9
billion West End development;
the 2,000-acre Morgan Stanley
project at Barbary Beach; the
Harcourt purchase and rede-
velopment of the Royal Oasis;
the potential Raven Group
project; the opening of Inter-
national Distributors’ Sea/Air
Business Centre warehouse;
and the Bahamian Brewery.

The likely strain on the
Bahamian workforce and
labour market these projects,
and others spread across the
nation, will exert is immense.

The absence of sufficient
workers with the skills
required by these developers,
coupled with the weaknesses
of the Bahamian education
system, mean that developers
will have to turn to expatriate
workers and companies to
meet their needs.

Fred Mitchell, former minis-

.ter of foreign affairs, said

before he demitted office that
there was a sense among seg-
ments of the Bahamian peo-
ple that economic and job
opportunities were passing
them by, due to a lack of skills
and education.

The Bahamas is already
showing signs of becoming a
divided, two-speed society,
where a significant percentage
of the population is being left

behind economically and

socially, lacking the skills
required for a human capital,
knowledge-driven economy
and world.

As a result, they are likely
to become marginalised, lead-
ing to the build-up of major
social pressures. Winston
Rolle, the former Bahamas
Chamber of Commerce presi-
dent, said there was a da
that Bahamians could Bgge

cri as

EOMMY

ils

selected merchandise

“second class citizens in their
own country” if they did seize
the opportunities before them.

Mr Lowe told The Tribune
that there needed to be a pub-
lic sector-private sector part-
nership to provide life skills
training for the long-term
unemployed and unemploy-
able.

“They just haven’t been pre-
pared for the real world, and
I’m talking about the majority
of those graduates from school
throughout the country,” Mr
Lowe said.

“Some effort has to be made
to bring those new school grad-
uates, and those who cannot
find employment, up to par.

“It’s rough and it’s tough. I
have no lack of job applicants
to Kelly’s. There are hundreds
of people who'd like to work
here, but in reality and truth,
they’re not ready for employ-
ment.”

Concerns that the Bahamian
education system is turning out
a large number of semi-liter-
ate and illiterate graduates,
who are unable to read, write

-and perform simple arithemtic

tasks, is nothing new.

For example, students from
public high schools in New
Providence who sat BGCSE
exams in summer 2004
achieved an average grade of
‘F+’, a “truly disturbing” per-
formance, according to the
Coalitio for Education
Reform.

A Ministry of Education
report showed that, out of
4,367 students who sat the
Maths BGCSE in summer
2004, just 141 or three per cent
achieved an ‘A’ grade, with
some 14 per cent or 614 get-
ting a ‘U’ or failed grade. The
average or mean grade for
maths was an ‘E’.

The results for English were
slightly better, with a mean or
average grade of ‘D-’, but

’ again, only three per cent or

130 out of the 4,281 who took
the exam achieved an ‘A’
grade.

These findings were backed
up by the Inter-American

Development Bank (IDB),

which found that almost one-

,

MONDAY, JULY 2, 2007, PAGE 7B

third of Bahamians aged
between 16-24 have no acade-
mic qualifications, with one in
five from that age group nei-
ther in the education system
or employed.

And 75-80 per cent of
Bahamian students who are
taking technical and vocation-
al subjects “read below their
grade level”, leaving the
Bahamian economy facing
“acute skills shortages” at all
levels.

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PAGE 8B, MONDAY, JULY 2, 2007

THE TRIBUNE



OS SIRIUS RSS ile Aaa oP So ESE Sa ae ek
$26m tourist marketing budget ‘not enough’

FROM page 1

in the wake of the Four Sea-
sons Emerald Bay Resort
being placed into receivership
with a view to selling the trou-
bled resort, said individual
Family Islands were receiving
little or no promotional bud-
get, and “get nothing” com-
pared to the likes of Kerzner
International’s Atlantis resort.

He contrasted this with the
$4 million that Kerzner Inter-
national received from the
Government and Ministry of
Tourism each year for joint
marketing promotions for its





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Paradise Island properties, part
of the existing Heads of Agree-
ment.

The former minister of
tourism suggested that the
Bahamas might have to raise
additional revenue to increase
the available marketing bud-
get, possibly through an addi-
tional $2-$3 added on to hotel
room taxes.

The Bahamas had “to take a
second look” at how it pro-
moted its number one industry
at a time when the global
tourism competition was
increasing, Mr Wilchcombe
said, with numerous other
nations how offering the same

attractions - sun, sand and sea. |









Yet “year after year”, the
Government continued to allo-
cate $26 million of the Min-
istry of Tourism’s Budget to
marketing, not increasing this
in line with the competitive
threat. ;

By contrast, Cuba was
spending was than $100 mil-
lion on promotions, said Mr
Wilchcombe, who added: “We
have a competitive situation,
many islands to promote. The
Bahamas is different, a com-
plex situation. We’re not going
to get anywhere unless we
realise the marketing budget
we have been using for the last
10 years is not adequate.

“We’re going to have to

stop, take a look at the prod-
uct, and spend money on pro-
moting it to sustain the tourism
industry. Otherwise we’ll find
ourselves overly-dependent on
Atlantis, hopefully Cable
Beach, and other islands will
suffer.

“We've been resting on our
laurels for too long and sitting
back, taking the money.”

Mr Wilchcombe suggested
that one reason why the 185-
room Four Seasons Emerald
Bay resort, plus associated
amenities such as the golf
course and marina, had not
worked out was because there
were not enough visitors to the
hotel and Exuma.

He said this was because few
potential tourists knew of the
Four Seasons Emerald Bay
resort or Exuma, as they were
overshadowed by New Provi-
dence and Kerzner Interna-
tional’s properties when it
came to brand identity and

‘market awareness.

“It re-emphasises that we
have to spend more money
marketing our islands, because
individual properties will not
drive people to these islands,”
Mr Wilchcombe said.

“If we are going to make the
islands successful, we are going
to have to spend more money
marketing the islands. We
must have critical mass. If

there’s not the mass, they are
going to suffer. Emerald Bay
has seen the consequences.”

The Bahamas had to brand
its Family Islands, Mr Wilch-
combe said, celebrating their
diversity and uniqueness, and
making visitors aware of them,
how to get there and what they
offered. The priority islands,
he suggested, were Grand
Bahama, Abaco, Exuma and
Eleuthera.

While the Four Seasons
Emerald Bay resort had been
built, the Bahamas had not
marketed Exuma as a ‘brand’
or destination in its own right,
leaving visitors uncertain about
what it represented.

Bahamas investor given prison time



FROM page 1

parcels woirth $9 million and
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The US Attorney’s Office
also confirmed that Mr
Masilotti had “confessed that
he flew to Nassau, Bahamas,
in February 2004 to receive a

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pay-off.... which was accom-
plished by giving Masilotti
gaming chips at the Atlantis
Hotel & Casino”.

The original indictment
alleged that on February 6,
2004, some $50,000 was wired
by a land developer to a bank
account “which serviced the
Atlantis Hotel & Casino” on
Paradise Island, as payment
for Mr Masilotti clearing up
traffic issues relating to a prop-
erty.

Developer

The developer and Mr
Masilotti then travelled to Nas-
sau on February 6, 2004, “to
effectuate the transfer of the

‘money which represented part

[of his] financial interest in the
property transaction”.

There is nothing to suggest
Atlantis did anything wrong in
relation to this case.

The Tribune revealed back
in July 2006 that Mr Masilotti
was an investor, along with
eight other partners including
developer James Knight and
Republican party supported

ft



"NOTICE

and cattleman, Billy Bowman,
in the Bonefish Club project
on Cat Island.

Among the assets that had
been,threatened with forfei-
ture by the US District Attor-
ney in southern Florida in con-
nection with the corruption

action was Mr Masilotti’s .

alleged interest in a Bank of
the Bahamas International
bank account, numbered
1302557, which was “held in
trust” by the Nassau-based
Maillis and Maillis law firm.

Other interests that the US
Attorney’s Office was targeting
were two Bahamian Interna-
tional Business Companies
(IBCs), For Boys to Girls Ltd
and Boys N Girls Ltd.

Both IBCs, and the bank
account appeared to have been
established to facilitate “a
development on Cat Island,
Bahamas, known as Bonefish
Creek Ltd”.

Affiliates of that company
which Mr Masilotti may have
an interest in, and which the
US District Attorney was also
threatening, are entities hold-
ing the project’s marina, hotel,

+

NOTICE is hereby given that ELISABEL RODRIGUEZ
OLIVO (MISSICK) of 115 WINDSOR ON THE MALL, EIGHT
MILE ROCK, GRAND BAHAMA, BAHAMAS is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
2ND day of July, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



Bahama.

NOTICE

NOTICE is hereby given that WINNIFRED RUTH JOHNSON
of NICHOLLS TOWN, GENERAL DELIVERY, ABACO,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 2ND day
of JULY, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

BAHAMAS

NOTICE

The Broadcasting Corporation of The Bahamas is
seeking a suitably qualified company to dismantle and
erect a new 350 foot Transmitting Guyed Tower on its
proprty located Settler's Way, Freeport, Grand

Interested parties should contact Mrs. Sharnett
Ferguson, Executive Assistant to The General
Manager at 242-502-3945, between the hours of
9a.m.- 5p.m., Monday to Friday to collect a copy of the
Tender documents, from our headquarters located on —
Harcourt (Rusty) Bethel Drive, formerly 3rd Terrace,
Centreville, Nassau.

Bids must be returned in a sealed envelope to
Mrs. Ferguson No Later Than Friday, July 6, 2007.








airport and lot sales proceeds.

Neither Bank of the
Bahamas International, nor
Maillis & Maillis, have done
anything wrong in relation to
the allegations against Mr
Masilotti, Nor have his part-
ners in the Cat Island devel-
opment.

It is uncertain what the
impact of his conviction on the
the Bonefish Club project,
which involves 252 acres on
Cat Island, incorporating the
former Cutlass Bay Club, an
abandoned ‘clothing optional’
or former nudist resort, will

have.
Owners

Cutlass Bay closed its doors
in 1999, after then owners
James and Sandy Robertson,
alleged they were beaten in
their bedroom by a group of
intruders. The couple launched
a website that outraged Cat
Islanders, who claimed it was
designed to smear their repu-
tations, and wrote a book
about their alleged experi-
ences.

. Former John S

George head
eyes Exuma
acquisition

FROM page 1

executive has not given up on
his retailing ambitions despite
the setbacks at John S George,
which ultimately led to a bitter
split in the investor group he
put together and the business’s
sale to Andrew Wilson, owner
of Quality Business Centre
and the Radio Shack franchise.
Mr Hutton has also recently
acquired Abaco Markets’ for-
mer Cost Right store in the
Turks & Caicos Islands, paying
$2.7 million for the property -
of which $2.5 million was paid
on completion - through a bid
vehicle he formed called
Entervant Holdings.














THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 9B



FROM page 1

“due diligence” to assess: why
the Four Seasons project had
not worked out.

He told The Tribune of the
receivership: “I think it’s defi-
nitely going to have ramifica-
tions. It’s negative news, so it
will have ramifications for
some of the people considering
developments in the Out
Islands on that sort of scale.

“Generally, it’s not the sort
of news you want to read, and
will certainly cause people to
look at the Out Island resort
model.”

The precise reasons why the
Four Seasons Emerald Bay
resort has failed to produce a
profit, forcing the investor con-
sortium that owns it, Emerald
Bay Resort Holdings, into
receivership after it defaulted
on loan repayments in April
2007, are unclear.

Some have cited the length
of time that it took to construct
and open the resort, with the
composition of the investor
consortium changing fre-
quently as it waited for gov-
ernment approvals and per-
mits.

Others, though, have cited
the high costs associated with
building the infrastructure to
support the Four Seasons
Emerald Bay Resort, and the
high operating cost environ-
ment encountered in the
Bahamas, as depressing the
resort’s margins and bottom
line profits.

Mr Townend, though, point-
ed out that Great Exuma,
where the Four Seasons Emer-
ald Bay resort was located, had
more pre-existing infrastruc-
ture than most Family Islands.

He added: “I think people
will want to know the reasons
why. People investing in these
developments will certainly
want to do due diligence on
the reasons why this one has
failed to deliver.

“They are going to want to
understand what has gone on.
There may be some project
specific issues that are not
immediately apparent. Each
project is unique. You’d like
to think there are specific rea-
sons why this one has not
worked out.”

Mr Townend’s views were
backed by former minister of
tourism, Obie Wilchcombe,
who agreed that developments
surrounding the Four Seasons
Emerald Bay resort had the
ability to damage two key dri-
vers of the Bahamian economy
- foreign direct investment and
the tourism industry.

Describing the receivership
as “bad news” and “terrible”,
Mr Wilchcombe told The Tri-
bune: “I think it will have that
impact, which is why we have
to get on our horse and ride a
new approach to marketing
and how we can take these
anchor properties to the next
level.

“Developers will sit back .

and wonder. Emerald Bay and
the Four Seasons, which is the
best brand in the world, rated
number one in many surveys.
If they’re having difficulty suc-
ceeding, what does that
mean?”

The Bahamas has enjoyed
great success in the global
tourism industry, its crown jew-
els being Kerzner Internation-

BUSINESS

OSM SRE Coe EBs SiO TUSTIN SG
Emerald Bay resort to cause ‘negative
ramifications’ for foreign investment

al’s Atlantis and One & Only
Ocean Club properties.

Yet alongside this there have
also been some spectacular
failures, such as Driftwood’s
exit from the Royal Oasis,
leaving $22 million in liabili-
ties behind; the consistent loss-
es that forced the Canadian
Commercial Workers Indus-
try Pension Plan (CCWIPP) to
sell majority interests in the
British Colonial Hilton and
still-closed South Ocean
resorts; the closure of Club
Med on Eleuthera; and now
the Emerald Bay receivership.

These factors are now likely
to be taken into account by
potential investors and
financiers of Bahamian resort
projects, still the key factors
behind economic, income and
employment growth, even
though the Bahamas was
ranked as the Caribbean
nation with the “greatest
tourism growth potential” by
the region’s major financial
insitutions in a survey per-
formed by Mr Townend and
his KPMG colleagues.

The survey, presented at the
Caribbean Hotel & Tourism
Investment Conference
(CHTIC), found that 50 per
cent of banking respondents
ranked the Bahamas as hav-
ing the greatest growth poten-
tial in the Caribbean tourism
and hotel industry, with the

NOTICE

NOTICE is hereby given that JOHN WIBERG OF 4 BAY
SHORE CLOSE, WEST BAY, P.O. BOX CB-11000, NASSAU,

BAHAMAS,

is applying to the Minister responsible for

Nationality and Citizenship, for registration/naturalization as a

citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 2ND day of JULY, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas.



Turks & Caicos Islands close
behind.

Mr Townend said earlier this
year: “Most of the financial
institutions we we spoke with
have the Bahamas on the radar
screen. They are invested or
would like to invest.

“The other major reason is
that the Bahamas continues to
benefit from the diversity of
its product. There are a num-
ber of available sites around

the island for development and
its location.

“At the end of the day, once
you get a couple of large
anchor projects, more tend to
follow, like Kerzner, Four Sea-
sons, Baha Mar, Ginn. There’s
a lot of projects going on that
raise the profile of the country
as a place to invest.”

This ranking could now be
in jeopardy, given the Emer-
ald Bay situation.

INSIGHT

For the stories

behind the news,
cst-To MK (e 4) 4
on Mondays



EMPLOYMENT OB eke tt

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is seeking to recruit the following persons:





SUMMARY:

Responsibility for assisting in the strategic planning, development
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applicable laws of The Bahamas would be.an advantage but

is not essential.



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e Develop annual and long-term marketing programmes.

Manage development and execution of the following: advertising

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Work closely with Western Union and product partners to plan and

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¢ BA in Marketing, International Business or related field required.

e Minimum of 3 years marketing experience with consumer
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Experience in developing and implementing marketing
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above positions should apply in writing to the following:

SKILLS:

¢ Solid strategic and analytical thinking skills.

e Excellent verbal and written communication skills.

e Ability to work with multi-disciplinary teams to achieve business
objectives.

e Solid PC skills (Excel, Word, PowerPoint).

e Ability to travel

Andrew Law

International Protector Group Limited
Montague Sterling Centre

East Bay Street

P.O. Box N-3924

Nassau, Bahamas



The person will report directly to the Vice President.
Competitive compensation package will include salary, benefits and bonuses.

info@ipg-protector.com
Send resume no later than July 12th, 2007 to:

The Director Human Resources
2) Haan
51 Frederick Street
P.O. Box N-4853

«Nassau
Fax 326.3000

e-mail: careers@fidelitybahamas.com

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, PAGE -10B; MONDAY, JULY. 2, 2U0/

IHE |RIBUNE



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RU San
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the #1 newspaper in

circulation, just call
022-1986 today!

on

; WINDING Bay
ABACO, BAHAMAS



$260m BIC deal
still under review

mâ„¢ By NEIL HARTNELL
Tribune Business Editor

he Government is
still reviewing the
$260 million offer
made by Bluewater
Communications Holdings for
a 49 per cent stake in the
Bahamas Telecommunications
Company (BTC), with the fate
of the deal struck by the pre-
vious PLP government still
undetermined.

Zhivargo Laing, minister of
state for finance, told The Tri-
bune the proposed deal was
“still under review” when con-
tacted by this newspaper, his
update coming as this newspa-

Cable & Wireless (C&W) had
also been in contact with the
Government to assess their
chances of re-entering the fray.
. “There’s nothing I can say
specifically other than that the
entire thing is under review,”
he added. “Our intention is in
privatising BTC with a view to
having a strategic partner that
can bring in improvements to
the services delivers to the
public. That continues to be
our intention.”

‘When asked whether the
FNM government would
review the Bluewater deal on
the ground that while the pur-
chase price. and other terms
may look good for the Trea-

Construction Project Manager

e Minimum 5 years experience in construction
management

e Working knowledge of timber and masonry
construction methods

e Proficient in reading and understanding construction —
plans eet ry

e Proficient in performing material take-offs and placing
material orders

e Working knowledge of construction materials

e Proficient with Microsoft Word and Excel .

e Good communication skills

Warehouse Manager

e 5-10 years experience managing a large warehouse -

e Working knowledge of accounting aspect of Warehouse
Management

¢ Computer savvy including proficiency with Microsoft
Word and Excel

e Solid day-to-day decision maker

e Good Communication skills with both upper
management and labour

@ Working knowledge of construction materials

Resume should be sent to Nick Sims, Development
Department, The Abaco Club on Winding Bay, P.0. Box



wy AB-20571, Marsh Harbour, Abaco or fax #242-367-2930

Mm Vacancies for Teachers for September 2007
i Kingsway Academy, an Interdenominational,

'* Evangelical, Co-Educational Christian Day School,

«|| invites applicants from qualified and experienced

= candidates for teaching positions at the Elementary and
“} High School levels (grades 7 through 12).

«| ELEMENTARY:

<{} Trained Physical Education Teacher for grades K-4

«| through grade 6

= | HIGH SCHOOL

High School applicants should possess a Teachers

« | Certificate, at least a Bachelor’s Degree in the particular
= | subject area would be an asset.

z

EQLULaE

=
=

SEREFKL ESSER RITES SSRI SRK AK TE

5

FER EREKSS ERTIES RGGRSRSRPE TER EPL SESSA AR ERES

° Biology/General Science

¢ English Language/Spanish

e English Language/Literature

* Mathematics/Physics

¢ Business Studies (Office Procedures, Economics,
Accounts)

¢ Food & Nutrition and Clothing

° Information Technology

The suecessfulcandidates'should have the following:

e An Academic Degree in the area of specialization
* A Teaching Certificate

* Excellent Communication Skills

* A love for children and learning

* High standards of morality

* Be a born again Christian

Letters of application together with a recent color
photograpgh and detailed Curriculum Vita (including
the names and addresses of at least three references,
one being the name of one’s church minister) should be
forwarded to:

Ms. Kelcine Hamilton
Academy Affairs Manager
Kingsway Academy Business Office
Bernard Road
Nassau, Bahamas

Salaries would be commensurate with qualifications and
experience.

Deadline for applications is Monday July 16, 2007.



per was told that rivals such as _ sury. and BTC, but not be so

#3324 Union Court, Shirley St. & Elizabeth Ave

hy Notable, convenient office address. Four ;
commercial office spaces available in a .
tange of sizes. Ground floor &
penthouse. Near hospitals, courts &

Contact us: Nea
_- downtewn Bay St.

Starting at $18 per sq. ft.

GRAHAM

REAL ESTATE» -

Showing Integrity Every Day

Linda Eldon

Property Manager
Tel: (242) 356-50303
Email: linda@grahamrealestate.com:
Web: www.grahamrealestate.com



~ Legal Boties
NOTICE

NOTICE IS HEREBY GIVEN as follows:

(a) GOLDON CORONA CORPORATION LIMITED
is in voluntary dissolution under the provisions of
Section 137 (4) of the International Business
Companies Act 2000. :

(b) The dissolution’ of the said company commenced on the
26th June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

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

Dated this 29th day of June, A.D. 2007

Michael Low
Liquidator

Bist

Pricing Information As Of:
2

52wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard , MS
Finco -
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson

ier Real Estate ‘

12.25 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)

28.00 ABDAB
14.00 Bahamas Supermarkets
0.35 RND Holdings

1.345055°
3.2018***
2.681688**
1.244286****
11.5519°***"

Colina Money: Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund

2 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 - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

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

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







@ ZHIVARGO LAING

good for Bahamian residential
and business consumers and
the wider economy, Mr Laing
said: “I think it’s fair to say all
that has to be taken into
account.

“In doing so, we will create a
win-win situation for all. That
has to be the objective.”

He then reiterated: “Every-
thing is on the table. There is a
review of everything that has
taken place.”

Just prior to the May 2, 2007,
general election, the PLP gov-
ernment concluded some two
years of negotiations with
Bluewater by agreeing the final
terms of the private equity-
funded bidder’s offer.

The PLP Government had
initially sought $250 million,
with Bluewater only prepared
to pay $225 million, so an
arrangement was worked out
where Bluewater would pay
$220 million up front, a further
$35 million at the end of the
five-year cellular monopoly,
and a final $5 million in the
sixth year — for a total of $260
million.

Yet it seems. likely that no
‘agreement in principle’ was
signed, as James Smith, former
minister of state for finance,

IMAtOld The Tribune previously i
‘that while Bluewater’s terms

were agreed by Cabinet, this

was not conveyed back to the
bidder.

The $260 million price is
double the amount offered by
the leading bidder in the failed
2003 privatisation process -
BahamaTel - leading many to
believe Bluewater is over-pay-
ing for BTC.

Yet the price may have been
induced by the likelihood of a
five-year cellular monopoly for
Bluewater, profits from this
revenue stream likely to be
enough to recoup much of the
$260 million and provide the
buyer with enough breathings
space and cash flow.

Deal multiples have also
recovered to 7x and 8x, sources
have said, with the global tele-
coms industry having recov-
ered from the trough it was in
in 2003, factors that could also
have influenced the Bluewa-
ter deal despite the erosion of
BTC’s market share in many
product areas through both
legal and illegal competition.

However, a five-year cellular
monopoly would have been
much more than that enjoyed
by BahamaTel had it been suc-
cessful, leaving many analysts
fearing that the Bluewater deal
would inhibit liberalisation of
the Bahamian telecoms mar-
ket. This would, in theory, gen-
erate competition that would
lower prices and improve ser-
vices and choice for consumers.

The relative lack of trans-
parency surrounding the PLP
government’s last privatisation
process has also been criticised
in some quarters, given that
the Bluewater talks were vest-
ed with heavy secrecy com-
pared to the 2003 ‘open beau-
ty contest’ process.

As a result, analysts have
questioned whether, by shut-
ting out all rival offers and

negotiating exclusively with
“ Bluewater, the’ Government
-cut‘off all prospécts of obtain-

ing a better deal.

ANTE

JEWELLERY SALES ASSOCIATES |

Must be.....
Honest, Reliable, Dedicated,
Professional, Energetic &
SELF MOTIVATED

‘Excellent $$$ Bonus Potential
Do You Have What it Takes?

If the answer isYES then take the next step

FAX RESUME TO 326-2824

APPLY TODAY!



ur LO
(G08 BA
Ly



7.71%
0.00%

aaa aa rapse em oacnaaauaureremeascecney
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 volume of the prior week

EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

NAV KEY
* - 22 June 2007
** - 30 April 2007

“** - 31 May 2007

**** . 30 April 2007





THE TRIBUNE BUSINESS

BAMONT TRUST COMPANY LIMITED

BALANCE SHEET
AS OF DECEMBER 31, 2006
(Expressed in United States dollars)

2006 2005
ASSETS
Cash and cash equivalents $ 2,391,950 $ 2,524,458
Prepaid expenses 71,540 29,167
Accounts receivable, net (Notes 4 and 6) 229,937 66,200
Fixed assets, net (Note 5) 84,836 118,181
TOTAL $ 2,778,263 $ 2,738,006

LIABILITIES AND EQUITY

LIABILITIES:
Accounts payable and accrued expenses $ 39,462 $ 30,700

EQUITY:
Share capital:
Authorized, issued and fully paid: :
30,000 voting A Shares of $1 each 30,000 30,000

1,970,000 non-voting B Shares of $1 each 1,970,000 1,970,000
Retained earnings -_ 738,801 707,306
Total equity 2,738,801 2,707,306

TOTAL $2,778,263 $2,738,006

See notes to balance sheet.

This balance sheet & approved by the Board of Directors on February 28, 2007 and is signed on its
behalf by: pe

/ Whe
/



Director

BAMONT TRUST COMPANY LIMITED

NOTES TO BALANCE SHEET
YEAR ENDED DECEMBER 31, 2006

1. GENERAL

Bamont Trust Company Limited (the “Company”) was incorporated on August 25, 1998 in
The Commonwealth of The Bahamas under the Companies Act, 1992. The Company was
granted a restricted trust licence on November 26, 1998, to act as trustee on behalf of the
Stephan Schmidheiny’ Family and commenced operations on December 1, 1998. The
Company’s main activity is the management of trusts and investment companies.

The registered office of the Company is located at the Bahamas Financial Centre, Shirley and
Charlotte parsers: Nassau, Bahamas.

_2. NEW AND REVISED INTERNATIONAL ACCOUNTING STANDARDS AND.

Bee Aaa

INTERNATIONAL FINANCIAL REPORTING STANDARDS AND |

,INTERPRETATIONS GQ yovd ota node,

At the date of authoriontcHl of the balance sheet, ne fatemsteel Accounting Standards Board

(“IASB”) has issued IFRS 6, IFRS 7, and IFRIC 4-10, which are not yet effective,

Furthermore, IASB has issued amendments to IFRS 4, IAS 1, TAS 19, and IAS 39, which are
also not yet effective,

Management anticipates that the future adoption of the Standards and Interpretations that are
applicable to its business will have no material impact on the balance sheet of the Company.

3. SIGNIFICANT ACCOUNTING POLICIES

This balance sheet has been prepared in accordance with International Financial Reporting

Standards. The preparation of the balance sheet in conformity with International Financial.

Reporting Standards requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at
the date of the balance sheet. Actual results could differ from those estimates.

The following is a summary of the significant accounting policies:
a. Fixed assets - Fixed assets, with the exception of paintings on which no depreciation is

charged, are stated at cost less accumulated depreciation and amortization. Depreciation
and amortization is charged on a straight line basis at the following annual rates:

Office furniture 20%
Office equipment ‘33.33%
Leasehold improvements Over lease term
Motor vehicle 33.33%
Software 33.33%

b. Foreign currency translation - All amounts in the balance sheet are expressed in United
States dollars. Assets and liabilities denominated in currencies other than United States
dollars are translated at the rate of exchange ruling at the balance sheet date.

c. Assets under administration - Assets held by the Company as trustee are not reflected in
the balance sheet.

d. Related parties - Related parties consist of shareholders and directors of the Company

and other: entities controlled by these parties. Related parties include directors and

~ -officers‘of the Company, who are considered members of key management, and who are
persons who have authority for planning, directing and controlling the Company.

€. Accounts receivable, net - Accounts receivable are carried net of provisions for bad
debt. The allowance is reviewed periodically and adjusted to reflect any impairment in
the carrying value of such receivables.
i Cash and cash equivalents - Cash and cash equivalents is represented by cash and
deposits with banks.
4. ACCOUNTS RECEIVABLE, NET

Accounts receivable, net is as follows:

2006 2005
Accounts receivable $ 229,937 $ 85,413
Less: provision for bad debt : (19,213)

$229,937 $66,200
The movement on the provision for bad debt during the year is as follows:

2006 2005

Balance, beginning of year Sees 2 Sees -
Provision charged to operation (19,213) 19,213
Balance, end of year g - $ 19,213



WORUAT, SULT &, 8007, FAGE 718

5. FIXED ASSETS, NET

The movement of fixed assets during the year is as follows:





2006
Beginning Ending
Balance _ Additions__ Disposals Balance
COST:
Paintings $ 20,665 $ - §$ - $ 20,665
Office furniture 89,302 . ° 89,302
Office equipment 43,177 4,946 ° 48,123
Leasehold improvements : 85,631 - - 85,631
Motor vehicle 14,710 - - 14,710
Software 275 - : 275
$253,760 $ 4946 $ - $ 258,706
' 2003
Depreciation
and
Beginning Amortization - Ending
Balance _Expense__ Disposals Balance
ACCUMULATED
DEPRECIATION
AND AMORTIZATION:
Office furniture $ 62,673 $ 7,162 $ - $ 69,835
Office equipment ; 38,149 = (3,795. - 41,944
Leasehold improvements 29,785 : 22,339 : $2,124
Motor vehicle 4,903 4,903 - 9,806
Software Lie tg? Sa Nuon teeta ty 1 6K
_ $138,579 $_ 38291 $=; $173,870
2006 Net Movement. ~ $118,181 $ (33,345) $ - $84,836
2005 Net Movement $ 132,263 $ (11,914) $ (2,168) $ 118,181

6. RELATED PARTY BALANCES AND TRANSACTIONS

; 2006 2006
Accounts receivable $_ 229,937 § 66,200
Provision for bad debt : a - 319,213

7. COMMITMENTS UNDER OPERATING LEASE

The Company has entered into a lease agreement for its office premises dated September 1,
2004, and expiring June 30, 2008. The lease provides for yearly rent payments plus a share of
certain costs. Future ea ener rere perrepete ener, np lnane ave me sallow:

Due within one year $ 82,755 $ 82,755

Due after one year 41,377 124,133
$ 124,132 $ 206,888
8 FAIR VALUE OF FINANCIAL INSTRUMENTS” Gap seee (aren en ourtega tes

The estimated fair value represents values which financial instruments’ could be exchanged for
in a current transaction between willing parties. Where there is no available wading market,
fair values are estimated using appropriate valuation methods.

Fair value of financial instruments carried in the balance shect are assumed to approximate
their carrying values due to their short term maturity and liquidity.

Deloitte

' Detoltte & Touche
Chartered

and Management Consultants
Centrevitie

2nd Terrace,
P.0. Box N-7120
Nassau, Bahamas

Tel: + 1 (242) 302-4800
Fax: #1 (242) 322-3101
http://www.deloitte.com.bs

INDEPENDENT AUDITORS’ REPORT

To the Shareholders of
Bamont Trust Company Limited:

We have audited the balance sheet of Bamont Trust Company Limited (the “Bank”) as at December
31, 2006. This balance sheet is the responsibility of the Bank’s managemem. Our responsibility is
to express an opinion on this balance shect based.on our audit.

We conducted our audit in accordance with Intemational Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurence.about whether. the balance.
sheet is free of material misstatement. An audit includes examining, on a test basis, cvidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall presentation of the balance sheet. We belicve that our audit provides a reasonable basis for
our opinion.

In our opinion, the balance sheet presents fairly, in all material respects, the financial position of the
Bank as at December 31, 2006, in accordance with International Financial Reporting Standards.

Without qualifying our opinion, we emphasize that the balance shect does not comprise a complete
set of financial statements in accordance with International Financial Reporting Standards.
Information on results of operations, cash fl.ws and changes in cquity is necessary to obtain a

complete understanding of the financial position, performance and es in financial position of
the Bank.

Se a % ‘i

e
February 28, 2007

A member firm of

Se ae

aa.



PAGE 12B, MONDAY, JULY 2, 2007

THE TRIBUNE



TIRE aa ST) TTS Ng co 2
Bahamas faces ‘hard choices’

on economic competitiveness

@ By NEIL HARTNELL

Tribune Business Editor

he Bahamas faces

“hard choices” in

trying to make its

. business environ-

ment more competitive and effi-

cient, an economist has warned,

as the lack of profitability in its

hotel industry could drive for-

eign direct investment away to

rival destinations where it can

obtain a greater return on its
investment.

Ralph Massey, who helped to
produce the 2003 Tourism
Taskforce on Trade Liberalisa-
tion report, which highlighted
many of the problems still
plaguing the hotel industry
some four years later, said in
the wake of the Four Seasons
Emerald Bay Resort going into
receivership that the Bahamas’
high operating cost environ-
ment was placing great pressure

on hotel profitability.

He said: “Yes, you can make
money here if you tap into the
high-end of the market like
Atlantis does. You can get a
positive return on capital, and
Atlantis certainly does. But if
you're not tapping into the high-
end market, you’re going to
have problems, and if you’re
going to the Family Islands it
gets worse because they don’t
have lower costs than New
Providence.”

Little has changed since the
Taskforce’s 2003 report, which
when comparing hotels that
charged similar average daily
room rates (ADRs), the oper-
ating profits achieved by Nassau
hotels are 59 per cent and 74
per cent lower than their coun-
terparts in the Caribbean and
the US.

Gross operating profits,
which do not include payments
for interest, taxation, deprecia-

B
G
&
3B

©2007 Cr

JONES &CO

Sales & Full Service Department
Rosetta & Montgomery Streets

322-2188/9



tion and amortisation, were 9
per cent for the Nassau hotel, 22
per cent for the Caribbean and
35 per cent for the US.

The Taskforce report said:
“This means that the Nassau
hotel was, at best, in a ‘break-
even’ position on net profits.”

Mr Massey told The Tribune
of the high-cost base in the
Bahamas: “It’s a fact of life and
they’ve [the hotels] got to deal
with it. The fact they’re oper-
ating and trying to compete in
an international market where
they are among the highest cost
operators in the market.

“Where are they going to get
the margins from?”

Atlantis is one of the gfew
Bahamian resorts to consis-
tently deliver a rate of return
to its owners via profitability.
This is because it is a unique,
one-of-a-kind experience that
tourists are prepared to pay top
dollars for, delivering a ‘value-
for-money’ vacation that
exceeds expectations.

This in turn allows Atlantis
to charge a relatively high room
rate, offsetting the high cost
environment and enabling the
resort to keep margins and prof-
itability up.

Yet Mr Massey pointed out
that the high operating cost
environment was also leading



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resort developers to seek
greater investment incentives
from the Government, in a bid
to ensure they made money on
the project.

He added that the high cost
of doing business in the
Bahamas, which also included
the dealys caused by govern-
ment bureaucracy and red tape
associated with licensing and
permitting processes, impacted
all businesses, especially
Bahamian-owned small busi-
nesses and start-ups.

Companies

These companies, Mr Massey
said, had limited cash resources,
and “the generation of positive
cash flow in the start-up peri-
od is vital”, but high costs negat-
ed this.

“What can be done about
this? That’s the real hard part,”
Mr Massey said. “None of the
remedies are easy for the
Bahamian government and
Bahamian people.

“One of them would be if
BEC was not a government cor-
poration, but a completely inde-
pendent company that has some
market pressure on it to be
more competitive, lower rates
and be more efficient.

“The high costs here are due












sane €







Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

HARRIER INTERNATIONAL CORP.

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
HARRIER INTERNATIONAL CORP. in‘in Dissolution.”

The date of commencement of dissolution is the 15th day of

June, 2007.

Ms. Ximena Furtado Cazes
Juncal 1305, 21st Floor
Montevideo, Uruguay
Liquidator

to a huge multitude of factors,
which can’t be resolved quickly.
Poor productivity, improving
the labour supply - which is a
difficult thing - and those out-
lying resort properties have the
problem of recruiting qualified
Bahamians, who are a scarce
commodity.”

He added: “The positive
thing is that something can be
done if there is a will to do it,
but the will to do it has to over-
come the inertia of state
bureaucracy.

“It’s like all issues faced by
the Bahamas. It takes the will of
the Government to do some-
thing about it, and if the will is
not there to do what is neces-
sary, it just doesn’t happen.”

Back to the Tourism Task-
force report again. It found that
Utility and mechanical costs for
the Nassau hotel were 36 per
cent and 114 per cent higher
than for its Caribbean and US
counterparts respectively.

The report identified as “a
major culprit” the higher elec-
tricity costs in the Bahamas,
where hotels would typically
pay BEC $0.16-$0.18 per kilo-
watt per hour, which was twice
the level for businesses in coun-
tries such as Ireland, the UK,
Germany, the US and Spain.

The report said: “One



WANTED



informed Bahamian business-
man believes that a well man-
aged private power producer in
the Bahamas could produce at
$0.09-$0.10 cents per kilowatt
hour.

This means that the cost to
Bahamians of an inefficient
BEC is almost $0.50 on every
dollar spent on electricity.”

The report found that the
Nassau hotel’s room payroll
costs were 40 per cent and 17
per cent higher respectively
than their Caribbean and USA
counterparts, and this combined
with productivity “place the
Nassau, hotel at a distinct com-
petitive disadvantage”.

The report found that the
weekly salary for a waiter (with-
out gratuities) and a cashier in a
Nassau hotel were significant-
ly higher (at $205 and $297
respectively) than their equiva-
lents in the Dominican Repub-
lic, which it. attributed to the
latter using more labour, reduc-
ing its significant cost per unit.

Food and beverage expens-
es, though, were 21 per cent and
183 per cent higher for the Nas-
sau hotel against its Caribbean
and United States counterparts,
a figure it described as
“absolutely astounding” and
reflected the high cost of pilfer-
age and wastage.



Cardiac Cath Lab Technician
and/or

Experienced Registered Nurse




} Call:
242-326-2346

Dr. H. Coleman

Bahamas Internventional Cardiology Center




Legal Notice

NOTICE —_

INTERNATIONAL BUSINESS COMPANIES
ACT
(No.45 of 2000)

ATLAC HOLDINGS LTD.

In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4) °
of the International Business Companies Act (No. 45 of 2000),
ATLAC HOLDINGS LTD. has been dissolved and struck off the
Register according to the Certificate of Dissolution issued by the
Registrar General on the 8th day of June, 2007.

Luis Pineyriga Pittaluga
Juncal 1305, 21 Floor
Montevideo,
Republica Oriental del Uruguay
Liquidator

To meet the challenge of operating our growing business, we wish to recruit a:

‘Compliance Officer

Main responsibilities

Ideal profile

What we offer

-~ Planning, organizing the compliance function for the bank

— Developing and maintaining adequate policies and procedures
— Reviewing and managing the documentation of client files

— Liaising with regulators and compliance officer of the Group

— Several years of experience as compliance officer in private banking
— Knowledge of Bahamian and international compliance requirements
— Computer literacy with communication skills

— Motivated team player with pleasant personality

— Must be able to work independently with minimal supervision

— Ability to conduct the monitoring of credit risk clients is an asset

— The opportunity to play an active role in the success of an innovative bank
— The chance to work within a dynamic and motivated team
— A salary which is commensurate with the job

— Competitive welfare benefits

Please send your resume and reference to: betsy.morris@syzbank.com
SYZ & CO Bank & Trust LTD. | Tel: (+1 242) 327 66 33
Bayside Executive Park | P.O. Box N —1089 | Nassau, Bahamas

Private Banking
OYSTER Funds

Alternative Investments

SYZ & CO

Created to perform |syzaco

www.syzbank.com



ye
ye

Bank & Trust



THE TRIBUNE BUSINESS



| MONDAY EVENING

JULY 2, 2007 |

















7:30
NETWORK CHANNELS
Florida Roadtrip | Antiques Roadshow “Reno” Victo- |History Detectives A $6 bill dated |Simon Schama’s Power of Art_ |
WPBT |cycling. rian sterling silver tea set; 20th-cen- |Feb. 17, 1776; a paper signed by Al-"Bemini’ Gian Lorenzo Bemini, “The
tury leaded-glass lampshade. lies. (N) © (CC) Ecstasy of St. Theresa.” (N)
|The Insider (N) |The New Adven-|The New Adven-|Two and a Half |(:31) How! Met |CSI: Miami “Darkroom” The CSI
@ WFOR|n (cc) tures of Old [tures of Old [Men Father-son |Your Mother 1 |team finds dozens of pictures of
Christine (CC) |Christine (CC) bonding. (CC) _|(CC) missing women in a safe. (CC)
frre ze ~/Access ied The Real Wedding CrashersA {Age of Love Mark has lunch with | Dateline NBC A retrospective of
@ WT VU |wood (N) (CC) Burbank, Calif., couple works with |two women who sit at different ta-_ {Stone Phillips’ interviews and inves-
crashers at the wedding. (N) bles. (N) © (CC) tigations. (N) © (CC)
Deco Drive Hell’s Kitchen 1 (PA) (CC) Hell's Kitchen The remaining seven|News (N) (CC)
WSVN me chefs must present a meal for a
wedding reception. (N) (CC)
Jeopardy! (N) |Wife Swap A mom who lets her —_|(:01) Extreme Makeover Woman |Supernanny “Nitti Family” A woman
WPLG (cc) a three ae rule the house sw; “i with a severe overbite; 45-year-old has trouble mana g her four
| with a militaristic mom. (CC) — jamputee. (N) 0 (CC) young boys. “ (CC.
CABLE CHANNELS
(:00) CSI: Miami CSI: Miami The team probes the |The Sopranos a Columbus Day Parade ( an The Sopra-
| A&E eke ance) mur ofa mae 4 eet atafe- {draws a protest. 0 (C ‘The Weight”
male sex party. 0
Hardtalk BBC News & Business |BBC News Click Online Es- /BBC News World Business
‘BBCI (Latenight). Report (Latenight). | sential guide to |(Latenight). Report
computers.
| BET The 5ive (CC) | x» LEPRECHAUN: BACK 2 THA HOOD (2003) Warwick Davis. An evil |Soul Food 1 (CC)
| leprechaun will stop at nothing to protect his gold. (CC)
‘CBC Soccer FIFA U-20 World Cup -- Austria vs. Congo. From Edmonton. (Live) (CC) CBC News: The National (N) (CC)
:00) On the The Millionaire Inside: Debt Free |The Big Idea With Donny Deutsch
SCNBCHa eenape ie iz DO ee ee
| CNN (:00) The Situa- | Paula Zahn Now (CC) nn e) King Live Isaiah Washington. |Anderson Cooper 360 (CC)
tion Room

Scrubs re ie The Daily Show |The Colbert Re- |Mind of Mencia |South Park Scrubs “My Extra|Scrubs Me
)COM yi a (Cc atic o. Stew- port (CC) Fente Method |Starvin' Marvin |Mile” © (CC) ica) idea!
Man. (CC) returns. (CC)

Cops “Fort = ci me Patrol: Behaving Speeders ery te
“COURT Wort 0 (C)_[Bad (N eeu Erte

ak ane pe Comedy) Kimberly J. Brown,
Daniel Roebuck, Elizabeth Morehead.

‘DISN

DIV
DW
|e!
ESPN
ESPNI
EWTN

FITTV

/FSNFL
'GOLF
GSN
G4Tech

HALL
HGTV
INSP

KTLA

LIFE

NICK
NTV
SPEED







| FOX-NC

This Old House
1 (CC)
Gero von Boehm

The Daily 10 (N)



quintuplets stuns a family.



Home Again —_|Desperate Land-|Kitchen Renova-|Kitchen Renova-|DIY to the Res- |Assembly Re-

(CC) scapes tions tions cue quired

Landerspiegel |Journal: Tages- |Projekt Zukunft |Journal: In Euromaxx
thema Depth

25 Most Memorable Swimsuit Moments Unforgettable bathing suits. [Half Year Best /Best of Worst

begegnet

he artival of

(35) That's So
fe New sup-
plier. (CC)

(0) MLB Baseball Minnesota Twins at New York Yankees. From Yankee Stadium in the

ronx, N.Y. (Subje
Gol ESPN:

ct to Blackout) (Live) (CC)

p 2007 Paris-Roubaix World Cup —|2007 World Series of Poker Satel-
Fuera de Juego |Highlights (N) lite event from Las Vegas.

Daly Mass: Our
Lady

Stretch Max:

Cathe Friedrich

Fox Report:
Shepard Smith

In Focus on FSN

The Approach



{Still Standing

Camouflage
(CC)

(:00) Attack of
the Show! (N)





(00) Walker,
exas Ranger
“Saving Grace”

(:00) Design Star
0 ke

Morris Cerullo oo Ed Young Erelyaty Life Today (CC) (ca Is Your Day ty Roehe
Woman

Reba Reba runs
in a 5K race
against Brock.

ne i a dies.

_ {SpongeBob
SquarePants 1

How | Met Your
Mother © (CC)

The Journey Home

The Gym “Hot Squad” Amber tries
out for a cheer squad.

The O'Reilly Factor (Live) (CC)

Poker Superstars Invitational
Tournament

European PGA Golf 2002 Deutsche
Tiger Woods.
High Stakes Poker (CC)

X-Play

to stop terrorists. 1

Letter and Spirit |The Holy Rosary
FitTV’s Diet Doctor “Atkins” The
Atkins diet. (CC)

Hannity & Colmes (Live) (CC)

ae the Mar- tine) on Deck |MLB Baseball Florida Marlins at
(Live) San Diego Padres. (Live)

a SAP Open -- Final Round.

High Stakes Poker (CC) - High Stakes Poker (CC)
X-Play “X-Play: |Cops “Jack- |Cops “Jack- __|Ninja Warrior ~—_| Ninja Warrior
The Musical” —_sonville” (CC) |sonville” 1 (CC)

Walker, Texas Ranger Walker and | * x LITTLE HOUSE: LOOK BACK TO YESTERDAY A Drama)

Alex go under cover at a ritzy resort {Michael Landon, Melissa Gilbert, Matthew Laborteaux.
Albert has a fatal blood disease, (CC)



Party Police: Vegas Bikers

That's So Raven |Life With Derek
Competition. |Casey called
(CC) “Klutzilla.” (CC)

Talk
Baseball Tonight (Live)

2007 World Series of Poker Satel-
lite event from Las Vegas.

Abundant Life
FitNation “Barefit and Pregnant’

Healthy pregnancies. (CC)

On the Record With Greta Van
Susteren (Live) (CC)

The Turn Champions
Learning Center

e family learns



rowed down to the final two.

. os and acorn to
Kids The Kyles jJim “The Pi izza
attend a funeral. |Boy” (CC)

Army Wives “Independence Day”

having an affair. (CC)










brake 6 Josh SpongeBob
nC SquarePants 1

tre 7a Wedding Crashers “Jina
and Christian” (N) (CC)



Pinks



Inside Nextel Cup (N)





Design Star The competition is nar- |Design Star The two remaining de- Design Star (Season Finale) The

signers face off. © (CC)

Accordingto —_|Friends Joey
Jim Jim’s real fa- |asks Phoebe's
ther. 1 (CC) —_ {sister ona date.

% & AURORA BOREALIS (2005, Drama) Joshua sas 5
Roxy learns that a Polak is |Sutherland, Juliette Lewis. Panes An aimless young man cares for his

ailing grandfather. (CC)

MSNBC 2 a ‘oat Comnitown With “ Olber- — |Scarborough Country MSNBC Reports Long Beach, Calif.
Funniest Home Feel Prince of Fea Prince of Fists Prince of
Videos Bel-Air Bel-Air Bel-Air
Age of Love (N) © (CC) (cc) (N) 0 JNews
ee Travis Rea Robert ra Ken _|Payback Jaime
rker. Downey, Jr. Shamrock. Pressley.
Bishop T.D. Behind the Mark Chironna a Jesse Duplantis |Praise the Lord (Live) (CC)
TBN Jakes (CC) —~ |Scenes (CC) Franklin (CC) _|(CC)

winner is announced. (N) 1 (CC)

Fanboy rena
Loves Raymond A‘ oe
Debra is late.







Every body re The pos-|Friends Joey is |Friends Chandler Friends The fa- Family et Family Guy an
TBS tae Raymond sibility of preg- |nominated fora |loses the wed- ther of Rachel's nie S i iss. (CC)
“Left Back’ — nancy. (CC) “Soapie.” (CC) ding film. baby is named.
(:00) Little Peo- |Little Peo ole Little People, {Big Medicine Mel ht N’ See” ie Fook Obesity Clinic
|TLC le, Big World Big Worl d Diter Big World Stool |Marc’s insurance Ml not cover his |“Mission Self Destruct” Former
CC) entjobs. (N) kits. (N) (CC) {hospital stay. (N) wrestler Val Puccio. (CC)
Law & Order “Magnet” Detectives |The Closer The squad ins a Po Heartland A patient needs a living
TNT investigate the strangling of a prom- |while attending the funeral of a donation from her brother, incarcer-
ising Hispanic student. ( mer colleague. (N) (CC) ated for murder. (N) (CC)
TOON Pokemon: Dia- Xiaolin veo Camp Lazlo |Home for Imagi-|Grim Adven- {Courage the — /Naruto
mond and Pearl |down 1 (C nary Friends —_|tures Cowardly Dog
'TV5 Sea Toute une |(7:55) Vie ne vie publique Des gens dont la vie privée etlavie © |LesGrands Relais gour-
istoire publique s'entremélent. musées mands
'TWC co Stories Abrams & Bettes Weather: Evening Edition (CC)
:00) Duelo de [Yo Amo a Juan Querendon Destilando Amor Cristina “La Fea Mas Bella”.
UNIV brent
| “{(:00) Law & Or- |Law & Order: Soe Victims Unit/WWE Monday Night Raw Starring WWE Champion John Cena, former
| US A der: Criminal In- |DNA tests on a dead girl reveals an |ECW Champion Arce Lashley and new Women’s Champion Candice
tent (CC) —_|incestuous pregnancy. Michelle. (Live) (CC)
VH1 Flavor of Love: Ea Moments Celebri- Ener Moments 2 Celebri- |Celebrity Eye Candy Footage. 0
{Charm School _ ties face humiliation in 2004. 1 _|ties face humiliation. 0
vs ove) 2007 Humberto Soto vs. Humberto Tole- |Boxing 2007 Will Grigsby vs. Ulises Solis, *
| . 0.
(00) America’s |America’s Funniest Home Videos |America’s Funniest Home Videos |WGN News at Nine (N) © (CC)
‘WGN Funes ie A (CC) Pinatas, 1 (CC)
ideos
Everybody Everybody AllofUs Fa- —_|Girlfriends The Game Major |CW11 News at Ten With Kaity
WPIX Loves Raymond Hates Chris _|ther’s 60th birth- |Jabari has been |locker-room rift. |Tong, Jim Watkins (N) (CC)
1 (CC) School field trip. |day celebration. |skipping school. | (CC)







‘wspk (pre





Dr. Phil Prejudiced Po become
enlightened. (CC)

News (N) Jeopardy! (CC) |Frasier Frasier {Frasier “Boo!”
and Roz room to- /Frasier dons a
gether. (CC) clown costume.

PREMIUM CHANNELS

* & PHAT GIRLZ (2006, Comedy) Mo'Nique, Jimmy |(:45) *» BIG HOMMA'S HOUSE 2 (2006) Martin
Lawrence, Nia Long, An FBI agent reprises his dis-

2006, Drama) André Benjamin, Antwan Patton, Paula | x * x THE aeaan VIRGIN

Big Love “Rock and a Hard Place”
Rhonda threatens to blackmail Nic-
ki. (N) A (CC)

guise, posing as a

(4 ae &% AQUAMARINE (2006, Comedy-Drama) Sara Paxton, Joanna} * x DOCTOR DOLITTLE (1998, Comedy) Eddie Mur-
joJo” eeite discover a mermaid in phy, Ossie Davis, Oliver Platt. A 20th- ee doctor
can talk with animals, 1 ‘PG-13' (CC)

* *% FORCES OF NATURE (1999, Romance-Come- ore Making
dy) Sandra Bullock. A groom hurries to his wedding, e Island
with a fellow traveler. 1 ‘PG-13' (CC)

* % & IDLEWILD ( }
Patton. Hoodlums seek control 0 a speakeasy. ‘R’ (CC)



6:30) * x DOC-|Entourage Dra-_ [Flight of the
/HBO-E |TORDOLITTLE |marekindlesa |Conchords
(1998) ‘PG-13 |romance. (CC) _|“Mugged” (CC)
| G5) 44
'HBO-P SOMETHING Jean-Louis, Godfrey. Two large women look for love.
NEW (2006) 1 | 1 ‘PG-13' (CC)
/'HBO-W Levesque, Emma Roberts, Two
their beach club's swimming pool. 0 ‘
| (:15) % % RUMOR HAS IT ... (2005, Comedy) Jen-
| HBO-S _|nifer Aniston. A woman stumbles onto a family secret
about her heritage. ( ‘PG-13' (CC)
% CON-
(MAX-E lhe
: _ + & ACCEPTED (2006, Comedy) Justin Long,
MOMAX Jonah Hil, Blake Lively. A colle oe reject and his friends
foreate a fake university. ( ‘PG-13' (CC)
| 6:45) * &% DU-
| SHOW ‘|ANE Hopwoop
(2005)

* x HOUSE OF WAX (2005, Horror
Rice ia Van Holt.

urderous twins entomb their victims in wax.

John From Cincinnati “His Visit:
Day Three” Some thugs rough up
John. 1 (CC)



eavy nanny. 1 ‘PG-13' (CC)

a Romance-Comedy) Steve ,
arell. O'R’ (CC)

) Elisha Cuthbert, Chad Michael





Bae * & & DIRTY DANCING (1987, sass Jennifer Grey, Patrick |Weeds “Mrs.
wayze, Jerry Orbach. iTV. A sheltered teen falls for a street-wise dance |Botwin’s Neigh

instructor. 1 ‘PG-13' (CC)



| ~ | *; THE

EXT BEST



_{THING (2000)



* * THE BIG WHITE (2005, Comedy) Robin
Williams, Holly Hunter. An indebted travel agent tries to

commit insurance fraud. ‘R (CC)



(: ue) * & INTO THE BLUE (2005, Adventure) Paul
Walker, Jessica Alba, Scott Caan. Four divers cross
paths with drug smugglers. 1 'PG-13' (CC)








Weeds Nancy
and Conrad fear

i
borhood” ice) a raid. (CC)







}

MONDAY, JULY 2, 2007, PAGE 13B

DEAD

MAN



let Charlie the e
Bahamian Pu pet and By
his sidekick Dek put g

Some smiles ON your

kids’ S faces.

&



Bring your children to the

McHappy Hour at McDonald's in
Marlborough Street every Thursday
from 3:30pm to 4:30pm during the
month of July 2007.

Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it





ee

PAGE 14B, MONDAY, JULY 2, 2007









CUOK, WE'RE

Al (PAW co Leet Here ®
LOST AND ff ie Wires KEEP GOING---
NEED WF > EY) YOULL RLIN RIGHT
DIRECTIONS fy =a) INTO IT!
BACK TO THE me
METRO }

TRANSFER
STATION!
















YOUR INEPT, SHIFTLESS, LAZY,
GOOD-FOR-NOTHING WORK |S

>, @ RAVING MADI!!







ITS ONLY
ABOUT A 15-
MINUTE WALK!

HE LOVES ME...
















BOSS, WHAT ARE YOU
TRYING TO SAY?



AND DON'T TALK
TO ANYONE... JUST

\_ KEEP WALKING!)

(©2007 by Non America Syndicate, inc. wona ngnta reserved.

LOST IN TAE- FOG «0












“REMEMBER THAT MONSTER MOVIE YOUTOLD ME NOT
TO WATCH CAUSE IT WOULD GIVE ME NIGHTMARES?

West dealer.

Foresight Is Rewarded

THE TRIBUNE BUSINESS

WELL, LETS CHECK MY
OUR SCHEDULE



make the contract.

He finessed the queen of hearts at
trick one and cashed the ace, discard-
ing a club. At this point, most declar-
ers would probably lead a low trump
from dummy, hoping to lose only
one trump trick and two clubs and so

But this approach would not have
met with success. West would win
the king of spades with the ace and
shift to the K-10 of clubs, won by
East with the queen. A third round of
clubs would then render South help-
less. If he ruffed low, West would
overruff with the nine; if he mffed
with the queen instead, West would
discard and eventually score the set-
ting trick with the nine of trumps.

Fazli wisely foresaw: that this
might occur if he led a spade at trick

Both sides vulnerable.
Ves = NORTH
qu E 4102
; VÂ¥AQ8
AQ65
$8653 ‘
WEST EAST make four spades.
A995 oJ
¥K10542 ¥3763
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SOUTH
#KQ87643
v9
SORRY, MAN...LJUST HEARD SIENNA BOBBY ARNOLD IS 84
DUMPED YOU FOR POTTY-TRAINED #172
BOBBY ARNOLD YEAH. SHE SAID The bidding:
SHE. WANTED West North East South
SOMEONE MORE 1y Pass 39 Pass
49 Pass Pass 4%
Dble










PONGRESS

NILEYE How -SEcn TUR .COPN

TIGER

AM BIRTHUAY: ¥
\S NEXT WEEK,



CRYPTIC PUZZLE

(©2007 by Marth America Symiicate, lec. World rights reserved.





The NICECT TING

WW. VCOMCS, COW,



WIERYO'ot

DIST, FY UNIVERSAL OBST SYNOD CAT L-

(C2007 by King Fecnures Byrcéoate, Inc. World rights ronerved.



















Opening lead — four of hearts.

This deal occurred during the
1984 World Team Olympiad in the
match between Pakistan and Ger-
many. It features a play that is sel-
dom seen in actual practice, although
the opportunity for it arises more fre-
quently than is generally realized.

Declarer with the South hand
was Jan-e-Alam Fazli of Pakistan.

His out-of-the-blue four-spade bid
WELL... was intended primarily as a sacrifice
AT LEAST against four hearts. But when West
Ke NEVER led a heart and the surprisingly
RAN For

strong dummy came’ down, Fazli ~

tealized he had a genuine chance to

a \- i= eee

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

ending in “s”, no words with initial capitals and no
words with a hyphen or apostrophe permitted. The
first word of a phrase is permitted (e.g. inkjet in

inkjet printer).

TODAY'S TARGET
Good 15; very good 22; excellent 29.
Solution tomorrow.



three, so instead he led the eight of
hearts and discarded the seven of
clubs on it!

This immaculate play effectively
severed the defenders’ communica-
tions. After winning the heart, West .
led the K-10 of clubs, declarer muff-
ing East’s queen. Fazli then finessed
the queen of diamonds and returned
a low'spade.

West took the king with the ace
but could do no better than return a

‘diamond. Fazli won with the ace,

cashed dummy’s ten of spades and
muffed a diamond. The queen of

Spades then drew West’s nine, and

the doubled’ contract came rolling
home.

oncer ounce

URAGE garcon grace

nacre narc narco ocean ocrea once

Tace racon unco

e conger core corn

€ crag crane crone cure

earcon ecru encore ENCO

acne acorn acre arco cage cane canoe care careen

cargo cere cone conga cong
. cornea cougar courag

YESTERDAY'S SOLUTION



CALENDAR AND SEE WHAT





‘} comes to a big decision. Work rela-



TODAY SAYS, “DO NOTHING.” -
SOQ DOES TOMORROW, AND
EVERY OAY AFTER...ALL THE
WAY THROUGH THE END

OF AUGUST.

(© 1982 Watterson/Distriovied by Universal Press Syndicate



am... — . =

a

Pe ee LL

= x

MONDAY, %
JULY 2, 2007 |
ARIES — Mar 21/Apr20. >}

You’re feeling a bit disconnected,?
from the world lately, Aries. It’s»?
nothing to worry about. You just need’. j
some time alone and then you’ll reac-" 4
quaint yourself with the status quo.

TAURUS — Apr 21/May 21”
It’s best if you curb your sudden *
feeling of aggression, Taurus. You |;
can put the energy to better use. #
Make a list of things to do and get.
to work, #

GEMINI - May 22/Jun21 4
Write a thank you note to someone .|
who has done you a favor lately,
Gemini. It is best if you try to rékin- ~
dle former friendships. A valuable “
one needs to be reinforced this week. â„¢

CANCER - Jun 22/Jul 22 4
Time and distance are no match for *}
Cancers who work their extensive con-”
nections. You are definitely a person”)
who knows how to network. Your #
smile proves you’re on fop. : , i
LEO — Jul 23/Aug 23 “a
‘In a clash of wills this week, Leo,’
you will come out the loser. Your #
opponent has so much power that a *
fair fight is impossible. Walk away
with your head high.

VIRGO - Aug 24/Sept 22
It’s a rare day when you have all of
the answers, Virgo. It’s best if you .
seek the advice of others when it

2's

~

tions improve.

LIBRA - Sept 23/Oct 23
You can’t find a system that caters ,
solely to your needs, Libra. You
have to admit that sometimes
things won’t go your way. Keep ‘
activities simple this week.
SCORPIO - Oct 24/Noy 22
Your senses are alive, Scorpio, and
you’re feeling invincible. You embark
on a path of change at work and others
are inspired to follow your lead —
with varying degrees of success.

SAGITTARIUS — Nov 23/Dec 21
Less is more this week, Sagittarius.
won’t take much for people to warr :
up to you. Consider curbing an:
spending and concentrate strictly o1
investment opportunities.

CAPRICORN - Dec 22/Jan 20
Expect positive developments in a
working relationship, friendship or.
romance, Capricorn. Actions speak

“2 eae o's

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>

2.9.0 Ceca aXe

2!

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802 9.












22, Se-TT-er 23, Varied 25, CIVIC 26, Sole 28, A-le Remain 25, Sense 26, Lice 28, Alp



- 2 3
T Ser Seca louder than words for you this week,
ie es so move forward. in
Bg ACROSS DOWN AQUARIUS - Jan 21/Feb 18“
4! Nip mea Cee) 1 Tosumup, apet is something ea ale Don’t start any new projects this A ‘
og Change | mention very quickly 16 week, Aquarius. You are known.to °s
4 indeed (2,2,4) create) ’ iar ' give up on things a tad too easily *
B 8 Price ofa ring? (4) 2 On SEN BRON TD One and you already have plenty on *
U Note left fora fallow ina religious eompase (6) via ae ae your plate. 3!
: Ig ho eee : 3 It's over £50 that may be herein (4) a 19 PISCES — Feb 19/Mar 20
} house Ci 4 Beaten fabric? (7) a ee ipreal bac Te rl c Te Your world is a mix of love and adven- *:
11. Saya tress & loose (6) se 5 Jules could alvays glve you the right 24 languages of the ture this week, Pisces. Impulse runs,
E 4 14 Means of building a flying device with time (5) Celts in Ireland wild, but it never steers you wrong. +
oe no tail (3) mn 22 and Scotland Share the fun with others. /
fo ; , 6 —_ Being short, they need some urgent
as 16 Name the Tory leader with a new suit supplier (5) ; ‘
Re ‘
|"s ~ or
T ‘ : 8 Accept that it's a variety of teak (4)
_* 4 17. Atter that, figure to get out Pe er rary aaa eae CHESS by Leonard Barden a
WwW of breath (4) PMs on 4
~§ 19 Howasoft-hearted schoolgirl Acetic kisesHence.(5) e
oO 406 13 Aschool place (5) Gawain Jones v Magnus Carlsen, 4
— eae 6) ane 15. Allto give a child a name (5) el ae Gaudsal 2007. Jones, 18, is, al
Bee ape mene 18 Americans giving hotheaded boos, along with David Howell, two: J
perhaps? (5) spetaiee) ee pe ee years younger, Britain’s most aI
I 22 eae i ne oon 5 i nicest of academicians (3) promisingiteenager, The ‘_
Ni. | 23 Painter ota Yankee ina knockout . a pe ie = ranguages Suet to Wbo.200n 4
vin 4
contest (4) Se eee a ACROSS DOWN starts his university course at
Ee Cie who ran ourG canta 21 Politician taking a line from notaries, 1” Rented room(é} 1 Sausage (6) Trinity College, Dublin, has an j
Eee hae possibly (7) 7 Respectful (8) _ 2 Inclinations (6) imaginative attacking style and 4
0 Rome? (5) 22 Cable car? (3) 8 — Unaccompanied (4) 3 Stepped (4) tied third in the 2006 British a
28 Possesses not all one’s dé about racing? (6) 10 Felt (6) 4 Discussed (7) Championship. A great talent? “4
N purchases (3) coil £ Mtn Lu 11 Procession (6) 5 Exclude (5) Not by world standards. Jones's >
1 29 I thus exclude the 24 Adopts American ways (4) —l 14 Catered (3) 6 — War-horse (5) * apponent in today’s position is : |
E , 25 _Pester to get something adjusted in N 16 Weary (5) B Mild (4) still 16, but is already talked of “
i Met. line (6) “ advance (6) > 17 Rodents (4) 9 Guided (3) as rivalling the legends Bobby a rook endgame a pawn up. There y
J 30 The waya Frenchman is 26 Where to get a piano with a wrought ou 19 Satisfied (5) 12 Free (3) Fischer and Garry Kasparov as _still seems a chance for White, ;
S so calm! (6) raaaain > 21 roe a6) 13 River-mouth (5) the best of his age the world has _ since his a5 pawn is dangerous 4
Cc 31. Fairsh git? (4) kone ' o 22 Temptress (5) 15 Humped mammal (5) ever seen. The Norwegian and Rxb6? axb6 is losing for a
> 32 Friendly and sociable, nevertheless 27 Maxim of many a German (5) < 23 Wound’s 18 Soothsayer (5) already ranks in the Carlsen. Black (to play) had $
! R an , 28 Would a gopher go soft on that Lu mark (4) 19 Term of respect (3) international top 20 and was everything under control. His next 4
. ¢ leaving ( woman? (3) 26 Check (5) 20 Can (3) runner-up this year at Linares, turn seemed harmless, but when ge
QO ‘| 33 Treasurable new tune about oR : ‘ 21 Nominal (7) the “chess Wimbledon”’. When _Jones saw its implications he ;
30 Indication of ultimate 28 Friend (3) ‘
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ANGUILLA _-The FirstCaribbean family is aware that to

nurture our societies, we must proudly honour



our Unsung Heroes, the extraordinary people

ANTIGUA & BARBUDA | who quietly make a difference and enrich our oe

St. Vincent & the Grenadines - 2006 HERO

Care of the Youth and Elderly .

Jestina Charles has worn many hats in her

lifetime — theologian, teacher, counsellor,

seamstress, homemaker and foster mother, in |

more than 50 years of helping people. She is «
a a “renowned for her assistance to the elderly and

make our communities ane countries better. . JESTINA CHARLES for administering feeding programmes for

me : pitied : a | (centre) over 30 years and has taught for many years
ne oon at various primary schools in St. Vincent.

communities. We must support their causes to.
_ which they selflessly devote their lives, and

THE BAHAMAS acknowledge the sacrifices they have made to.



; We are now accepting nominations for the 2007
BARBADOS ass
_.-FirstCaribbean Unsung Heroes. Let’s recognise he ie Ge
on dg ae - St. Lucia - 2006 Regional Runner-up
- Extensive Work with the Youth and
Elderly
Laura Collymore is a retired school teacher,
mentor, counsellor, caregiver, town clerk and.
humanitarian who has been actively serving
j the fishing village of Laborie and its environs
iB ape wud AMGOLRRAN (Olam for the past 30 years. She is a founding
and the impact it has had on your community. (centre) member of Club 60, a group devoted to
aa BT ae eel engaging the elderly in activities.

the Unsung Heroes among us and help give

_ their causes the recognition they deserve.
anya a Sentra 2S ea

Send us your nomination describing their work _



BRITISH VIRGIN ISLANDS bias “ie tae ae eae
Nomination forms are available at FirstCaribbean

The Bahamas — 2006 Regional Runner-Up

Care and Support of the Hearing

Impaired

For the past 15 years, Marvin Finlayson has
- devoted his life to reaching out to the

hearing impaired. At the tender age of six,
amet thas »j _he took ill with meningitis, which left him

ie 1891 MINGWAINMAINIENAXOININ leaf. He became the first deaf person to
Rte FirstCaribbean Unsung Heroes 70R G Bagi tf ou wine ag w@taduate from the College of The Bahamas.
at aye ees Marvin is oné ‘of the founding members of

c/o Local Co- ordinator The Bahamas Deaf: Sports Association.

branches and on our website at
www.firstcaribbeanbank.com

Nomination forms should be addressed to: |

THE CAYMAN ISLANDS



FirstCaribbean International Bank:

FirstCaribbean Financial Centre a JP Ie Sages «St Oa ie ‘
ae , eu i Ee m™ | jamaica—- 2006 Regional Commendation

2nd Floor © ~ Community & Social Worker

‘Shirley Street

DOMINICA

Fabian Mitchell, 34, is living testimony that
hope is alive and well with the youth in our
~ region. He established the Cross Roads
Foundation, has worked voluntarily in the
inner-city communities of Kingston, and also —
started a remedial programme for street boys
sree SAne in the Jones Town community that became a
Nominations must be received by July 28, 2007. | model of a rd programme in another
ee, ey area in the city.

Nassau, Bahamas
GRENADA & CARRIACOQU ;



JAMAICA and may be posted to the address above or

delivered to a FirstCaribbean branch near you.

ST. KITTS & NEVIS ee.
GUIDELINES - Nominees must:
¢ Be an individual or group, ‘dedicated beyond the © :

Para ordinary towards social improvement

e Be willing to have their cause profiled in the local .
and regional media :

e Be a regionally focused person or team
eine. e Not have a high media profile |

¢ Be a Caribbean citizen/resident for at least five years

¢ Be apolitical : oe eres
ST. VINCENT'& ¢ Not seek to directly promote any religious movement

THE GRENADINES , :

TRINIDAD & TOBAGO

FIRSTCARIBBEAN

INTERNATIONAL COMTRUST
FOUNDATION LIMITED

TURKS & CAICOS ISLANDS



ENRICHING OUR COMMUNITIES. TOGETHER.

Www.fitstcaribbeanbank.com

Le



PAGK 100, WWNWAT, UULT 2, 2UU/ [HE |RIBUNE BUSINESS

| a ce with your ica et
Business and see wig working tog eter can do. for you

& Scotiabank’





Full Text
m Lhe Tribune

Che Miami Herald

HIGH 88F
BAHAMAS EDITION





LOW 76F
CLOUDY,

9 TSTORM

Volume: 103 No.183

DO Breakfast.



MONDAY, JULY 2, 2007 PRICE — 75¢





esi cc
in ‘inter-island
pillaging’ warning

Competition for best staff creates problems

TOUR Cc



Boxer pounds Colombian opponent





$3 of cocaine seized

of drugs found
off Eleuthera

@ By ALISON LOWE
Tribune Staff Reporter

COCAINE with an estimat-
ed $3 million street value was
found stashed in a sailboat off
the coast of Eleuthera by Drug
Enforcement officers Friday
evening.

According to police, the mas-
sive haul — 226 kilograms — was
made after the 42-foot vessel
was intercepted, boarded and
searched by an officer.

Two French Canadian men,
ages 57 and 61, have been
arrested in connection with the
find — which was stored in the
cabin of the boat, along with a
“srhall amount of cash,” accord-
ing to Assistant Superintendent
Walter Evans.

The men are expected to be
charged as early as today. The
drugs have been brought to the
capital for processing, he said.

It is thought that they may
have been coming from the
Dominican Republic, said Asst
Supt Evans. He could not say
where the drugs were being
sent.

Commenting on the signifi-
cance of the haul, the officer
said: “You don’t find that
amount of drugs every day.”

The successful seizure of the
drugs comes as a result of col-
laboration between Bahamian,
Canadian and US authorities.

“These things cannot be
done by us alone,” said Evans.
“There has to be a degree of
understanding and information
sharing by all agencies,” he

ec =
pe



lee Ae Si

added.

The seizure comes as AP
reports that there has been a
quadrupling of suspected drug
flights into Hispaniola, the
island which is the home to both
Haiti and the Dominican
Republic.

US, Haitian and Dominican
forces have launched operation
“Rum Punch” to counter the
surge.

However, the operation’s
success has been hindered by
corruption and restricted local
budgets, according to AP.

The Haitian police force has
only a few dozen drug agents,
and only one functioning
patrol boat — facts which Hait-
ian police chief Mario
Andresol admitted to AP are
seriously hampering their
effectiveness.

Most of the drugs that reach
the island nations are said to

‘have originated in Colombia,

flowing through Venezuela, and
then being carried “by the ton”
on ships and planes to feed the
enormous demand in Europe
and the US.

According to AP, there has
been an increase of as much as
30 tons a year in the amount of
cocaine passing through
Venezuela under President
Hugo Chavez’s rule. An esti-
mated 300 tons of the drug is
suspected to have been shipped
out of the country in 2006 —
roughly a third of global-sup-

ply. .
SEE page 12

#6021-18571

Alot. Moncton,
ne ado
PHYS







@ GRADUATES of the National Youth Service Restorative Programme Junior Life Division
march in the Passing Out Ceremony on Friday in BARC, North Andros. See page eight for more

pictures.

(Photo: BIS/Tim Aylen)

nent eee eeeeeneesenceeeeeeseneeeeses esas eneeensenehee eens ese Hee bene esses NG EAS EAESEEAERS OA ESGSAEDO BAHAMAS EEEE ESR HAD EOE EE DRED AGH REARS RAREEEEGLAEEDEOB OURS EDU EEEDEEO LEE EEDSRESOERE ESE SEESEDGEDGOLESOLES

Guana Cay campaigners slam BNT

@ By BRENT DEAN
Tribune Staff Reporter

A LOCAL environmental
group has questioned the cred-
ibility of the Bahamas Nation-

al Trust after the organisation -

endorsed the controversial
Baker’s Bay development on
Guana Cay, and accepted a
$1.2 million pledge from the



THE Bank of the Bahamas
was another generous donor to
the campaign to provide dialysis
machines for the Princess Mar-
garet Hospital.

Bank of the Bahamas donat-
ed $20,500, which will purchase

.a complete dialysis unit, includ-

ing the cost of installation, staff
training and a full year of tech-
nical support. The fund, which
opened with a goal to raise
$164,000 to purchase eight
machines, closed three weeks
later having more than doubled
its goal. The fund was closed on
Thursday with $342,915.29 in
the account.

"Bank.of The Bahamas
International is pleased to make
this contribution of $20,500 to

SEE page 12




site’s developers.

The Save Guana Cay Reef
Association (SGCR) con-
demned the BNT for its rela-
tionship with the Baker’s Bay
development in a scathing press
release yesterday.

“We realise they (the
National Trust) are a cash

‘strapped organisation and we

respect their work, but that is

PU CUT CECB EARS DUA TEU

no reason ‘to sell your soul to

the devil.’ Accepting the dona--

tion is one thing, we cannot
fault them for that, but the
gushing words of praise that
followed in the press release
from the BNT, was nothing

short of appalling,” they
claimed. —
SEE page 12





PICTURED from left to right are Dania Ferguson, the bank’s
marketing co-ordinator, Sean Moore, The Tribune’s marketing
manager, and Tameka Forbes, senior manager — business
development, PR and legal affairs at the bank

www.rbcroyalbank.com/caribbean/bahamas

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Atlantis is
accused of
not paying
millions for
woodwork

@ By ALISON LOWE
Tribune Staff Reporter

KERZNER International
has been accused by the owner
of a family business of not pay-
ing millions owed for wood-
work done on the new Cove
tower. .

Jean-Marc Ingea, owner and
general manager at Elcir, said
he was shocked when he heard
that, after months without pay-
ment — during which his work-
men went ahead on the opulent
project “in good faith” — there
was disagreement over what his
firm is owed.

The dispute has escalated

_ since two weeks ago when the

construction management firm
PCL, contracted by Kerzner
International, hit him with back
charges to the tune of $3.5 mil-
lion for costs he claims to have
been given repeated verbal
assurances were not his respon-
sibility.

SEE page 12
Christie goes
on offensive
over Urban —
Renewal

i By BRENT DEAN

Tribune Staff Reporter

OPPOSITION Leader Perry
Christie weighed in yesterday
on the death of David Rolle on
the steps of a deserted Urban
Renewal building, stating that
no Bahamian should die
“because of a government's lack
of vision.”

The death of Mr Rolle, the
country’s 42nd murder victim,
has caused significant contro-
versy as the young man desper-
ately sought the help of Urban
Renewal officers in Nassau Vil-
lage — who were not there — in
the last moments of his life.

Mr Rolle was shot multiple
times and died in front of the
abandoned police outpost after
making a frantic call to his
mother, as no police were pre-
sent to assist him.

LEE page 12














PAGE 2, MONDAY, JULY 2, 2007

THE TRIBUNE



LOCAL NEWS



No offers yet to buy private island
Leaf Cay from millionaire Holcomb

@ By ALISON LOWE
Tribune Staff Reporter

THERE were no bids on
Leaf Cay — the private
Bahamian island put up for
auction for $12 million by a
Florida millionaire on Thurs-
day.

The Tribune reported last
week that the lush 15-acre
island in the Exumas, designed
as a hideaway and refuge by
Jack Holcomb after being
acquired in 1986 for $225,000,
was to be sold off.

The island is home to 19
buildings, a dock, a crane, an
airstrip, fuel tanks, two cis-
terns and a desalinisation
plant.

It has electricity, provided by
cables from the mainland, gen-
erators, and solar panels — if
all else fails.

Holcomb — who has been

alleged td be a former CIA
operative — also installed a
massive amount of storage
space, including a freezer build-
ing with enough storage space
to keep a family alive for five
years.

Resources

Huge quantities of food,
including 50 25 pounds of flour,
30 five-gallon buckets of grits,
six of lima beans as well as nine
cartons of military-made ready
meals, and enough coffee to last
for an estimated 115 years is
still to be found stored away on
the island.

However, as well-equipped
as the place might be — it was
designed to provide safety in
case “everything went bad in a
hurry” according to the mil-
lionaire — no one offered the

$12 million he was looking for
when the property went under
the hammer in Fort Lauderdale
on Thursday.

Though there was interest
from the rich of 12 nations, the
island remains Holcomb’s,
according to The Miami Her-
ald.

He had hoped to sell it as his
declining health — specifically
skin cancer — which meant he
has not visited in years, and
does not fancy the idea of
spending that much time in the
hot Bahamian sun. He also
owns a $1.8 million home in Ft
Lauderdale and a 373 acre
ranch in Kentucky.

Although not going into
details, the millionaire told The
Miami Herald that he had not
given up hope.

“When things go wrong, I
always have plan B, C, D and
E,” he said.



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Customers’ an

@ By MARK HUMES



WHILE employees of the
Bank of Nova Scotia’s Thomp-
son Boulevard branch held,
what appeared to be an early
morning pep session inside,
irate customers to the branch’s
24-hour ATM machine waited
outside for about 30 minutes,
as none of the bank’s three
money machines was opera-
tional.

Shortly before 9am Thursday,
a Tribune reporter arrived at
the branch to retrieve funds
from the branch’s ATM





machine and found customers
in the foyer complaining
because they were unable to
obtain funds from the machine.

“T went to the Wulff and East
Street branch and they didn’t
have no money. I checked the
gas stations, and they don’t have
no money. This is ridiculous,”
complained one customer.

“I said if this happens again, I
was going to move my account
to Royal Bank,” said another
customer.

After a steady ten minute
flow of visibly upset customers
streamed in and out of the foy-

INSURANCE AGENTS & BROKERS

er, the location of the empty
money machines, the reporter
tried to find out from bank offi-
cials why none of the bank’s
three ATM machines was func-
tioning so near opening hours.

The reporter asked a security
officer to contact one of several
managers seen at the back of
the officer. However he made
no effort to get a manager’s
attention, and concerned cus-
tomers either left in frustration
or milled around outside until
9.20 am, when one of the bank’s
machines became operational.

“This seems to be a constant

thing with these banks around
here,” one customers said.
“These are supposed to be 24-
hour machines, and they are
constantly running out of mon-
ey, and then you have to drive
all around the island at all hours
trying to track down money. We
are paying all of these fees to
these banks and we don’t even
have easy access to our money
when we need it.”

Another observer said that
banks must realize that they put
their customers in danger when
they are forced to ride around
at different hours of the day and
night hoping to find a machine
with money in it.

When managers of the














| Share your news

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

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

Thompson Boulevard location
were approached for answers
about the extended delay in
making funds available to ATM
customers, The Tribune was
told that all questions about
ATM operations should be
addressed by the bank’s mar-
keting department of the main
branch.

When The Tribune went to
Scotia Bank’s marketing depart-
ment, one bank official tried to

contact someone in the depart- .

ment to meet with him.

Not able to contact anyone
in the department by phone, the
official went to the department
and, for close to 20 minutes,
tried to find an employee of the

ieee § ee phe z ii

er at Scotia Bank ATM service

department to address the con-
cerns.

' After an extensive search and
not being able to locate anyone,
the official gave the name of
one. person in the department
for The Tribune to.contact later
in the day.

Eventually, The Tribune was
able to speak with Debra
Woods and Andrea Myers of
Scotia’s marketing department
who apologized on behalf of the
bank. They said that after
speaking with managers at the
Thompson Boulevard branch,
they were made to understand

. that the bank was having chal-

lenges with two of its machines
during the period in question,
operational challenges that she
could not address publicly.

“It was just this morning, at,
the time that they were replen=
ishing. the machines; obviously
there was something else that
probably caused them to take
a little longer than normal,” said
Ms Myers. |

Again, after further explana-
tion, they offered apologies, on
behalf of Scotia Bank, to those
customers who experiencing
problems at the branch Thurs-
day morning.

Cis Be


THE TRIBUNE





Woman is
jailed for
marijuana
possession

A WOMAN was sent to
prison last Thursday for mari-
juana possession.

Lewchea Dickenson, 25, of
Nassau Village was charged in
April 2006 with possession of
marijuana with intent to sup-
Ply.

Dickenson stood trial for the
offence and was convicted.

Magistrate Carolita Bethel
Thursday senteficed her to two
and a half years in prison.

She was found in possession
of 31 pounds of marijuana.

Two men

are injured
while leaving
party

TWO young men ended up
in hospital this weekend after
being attacked in separate inci-
dents while leaving a party in
Jubilee Gardens.

At around lam, a 26-year old
Nassau Village resident was hit
in the head with an unknown
object by a group of men as he
exited the party. He is current-
ly in a serious condition in hos-
pital.

Later, a 27-year-old was shot
in the left leg by an unknown
male as he left the same resi-
dence. He too is now in hospi-
tal, although his wounds are not
considered life-threatening.

Yesterday, Assistant Super-
intendent Walter Evans said he
could not say whether the inci-
dents were connected, or gang-
related.

Bermuda
reports 18%
rise in tourist
arrivals |

@ PUERTO RICO
San Juan

BERMUDA on Friday
reported an 18 per cent increase
in the number of tourists flying
into the mid-Atlantic British
territory during 2007's first
quarter, attributing the boost to
an influx of visitors from the
United States, according to
Associated Press.

The increase over the same
period last year comes as sev-
eral Caribbean islands are
reporting tourism slumps.
Jamaica, the Bahamas, Barba-
dos and St Lucia have all posted
decreases in air passengers,
according to figures from the
Caribbean Tourism Organiza-
tion.

"All the people who make
our tourism product what it is
have even more reason to hold
their heads high, because this
undeniable surge in visitor num-
bers is coming at a time when
our colleagues in the Caribbean
are struggling," said Premier
Ewart Brown, who is also the
minister of tourism."

Bermuda, known for pink-
sand beaches, diving and tax-
free shopping, has been recov-
ering from a decline in tourism
in 2005 that the government
blamed on high airfares and
fears of hurricanes.

During the first quarter,
32,946 American air passengers
visited the island 640 miles east
of the US, compared with
26,732 in 2006.

of things we
think, say or do

1. ls it the TRUTH?
2.|s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org

TROPICAL
arse
ea R AIAN!
PHONE: 322-2157



@ By BRENT DEAN
Tribune Staff Reporter -

BAHAMIANS | should
expect increased visibility from
police as a result of the new
neighbourhood policing initia-
tive, it was said.

Assistant Commissioner
Marvin Dames, officer in
charge of New Providence dis-
trict, told The Tribune that a
major component of the new
programme, which was rolled
out last week, will be the zon-
ing of communities through-
out the Bahamas by police,
and the assignment of a spe-

cific complement of officers:

and vehicles to cover each of
these areas.

Mr Dames said that 300
additional officers will be reas-
signed to add to the comple-
ment of officers already in sta-
tions in order to facilitate this
remobilisation exercise.

The main thrusts of the ini-
tiative, he continued, will be
to enhance police intelligence,
along with placing special
emphasis on crime prevention
and crime fighting.

“It will be the duty of those

: . officers to get to know the peo-

ple in those zones,” he said.
Which, from an intelligence
perspective, he added, will
enhance the ability of police
to respond to any upsurge of
crime within the boundaries of
a specific community, and to
bring those involved to justice.
With more officers con-

stantly on the beat in commu-

nities, including police on bicy-



Police ‘will be
more visible’
with new policy

Officer in charge lays out plans
for neighbourhood policing

MARVIN Dames

cle patrols, Mr Dames expects
that response times of police to
be shortened, and there to be a

‘deterrent effect to the height-

ened police presence.

Mr Dames added that police
will place emphasis on mobil-
ising the community by assist-
ing in the creation of crime
watch associations.

As the officer in charge, Mr
Dames told The Tribune that a

major responsibility of his will:

be to monitor trends through-
out the island, and ensure that
the necessary resources are
quickly sent to address the spe-
cific needs of communities.

Accountability

“This initiative is not only
about setting up officers and
putting them out there. It’s all
about accountability and cer-
tainly performance measure-
ments,” he said.

The public should expect to
see reports from law enforce-
ment, as to the effectiveness
of this new scheme Mr Dames
added, as it is the public who
will be the “final judge” of
whether or not this new drive
is successful.

In the wake of the 42 homi-
cides that have already
occurred in the first five
months of this year in the
Bahamas — which sets the
country on track for a predict-
ed record of more than 80
murders — police officials will
have to demonstrate statisti-
cally that initiatives such as this
can make a real impact into
crime in the country.

As Mr Dames and other
police officials are aware, the
level of fear of crime is cur-
rently high in the community.

Bahamian police reported on
“course in southern England

@ By ALISON LOWE
Tribune Staff Reporter

BAHAMIAN police have
been pounding the streets in
the south of England, accord-
ing to the BBC.

Although no police sources
could yesterday confirm who
took part in the three-day
course in Dorset in southern
England, “police chiefs” from
this country, as well as from
Botswana, the Cayman Islands,
Bahrain, Oman and

Bangladesh were Saal fo have
been involved, according to the
organisation.

The course was intended to
teach officers the latest police
techniques. They also went on
patrol with the UK force in the
town of Weymouth.

Supt Colin Searle of the
Dorset police force said: “It's
important to continue to build
relationships with interna-
tional police forces, to con-
tinue to exchange informa-
tion."

Chief Insp Rick Dowell
said: "It was a pleasure for us
to play host to our guests
from various parts of the

-world, and to demonstrate

technology, skills and
resources of the specialist
operations departments of
Dorset Police.

"The commanders gained
considerable benefit from their
visit to the operations division
and will no doubt take a great
deal of knowledge back to
their native forces."

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PAGE 4, MONDAY, JULY 2, 2007



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

COM) ise Ds 2 ithe

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: /-(242)-352-6608

Bahamas tourism is in trouble

THE BAHAMAS’ TOURIST industry is
in deep trouble. Like the three blind men who
went off to “see” an elephant — the truth
eluding all three — no one has yet been able to
put a finger on tourism’s real troubles.

Like the blind men who touched the ele-
phant on different parts of its body — ears,
trunk, tail — each came away with a different
concept of “elephant.” Unable to see the
whole, no one was able to grasp the true pic-
ture from the parts.

It is the same with our tourism industry.
Some lay all the blame on a crumbling, ineffi-
cient and overcrowded airport. Already three
cruise lines have pulled their ships because

of a deteriorating Prince George dock. Their.

loss could have been averted if the PLP gov-
ernment had acted on warnings of what would
happen if the harbour were not dredged and
the dock upgraded — therefore, an indeci-
sive government, which kept the truth from
the public, added to an already major problem.
Others say it’s because there are not enough
places of interest to attract visitors, and that
the run-down condition of Bay Street, the
main shopping thoroughfare, is a turn off.
Also one must not forget that a large number
of rooms have been pulled from the market
because of hotel renovations on the Cable
Beach strip. Crime and attitudes are also high
on the undesirable list.

However, many analysts want to lay sole
blame on the US’s new requirement that all
Americans returning by plane from overseas
must have a passport. So far this requirement

does not apply to.the cruise industry, soit, .
was quite a blow to Bahamians to suddenly |
learn that three cruise ships were leaving for ~

more attractive ports.

Not one of these in isolation is our problem,
but all bundled together they are “The Prob-
lem.” And it is now up to the experts to find
the Alkaselzer to effect a cure.

Those who believe that most of our prob-
lems rest with the US government’s decision,
maintain that the US passport requirement
will eliminate our impulse tourist. That is the
man and woman who get up one morning to
overcast skies and falling snow flakes and say,
“Let’s head for the sunshine of the Bahamas.”
Or the Miami visitor who decides to enhance
his southern visit by hopping a plane fora
night of gambling at Nassau’s casinos.

But let’s look at the other side of the coin.
Is it, the passport, or is it the excessive airline
fare that is discouraging the impulse traveller?
For example, someone had to make an emer-
gency flight to Miami last week. He was quot-
ed a roundtrip ticket from Nassau to Miami by
American Airlines for $659 — as someone
said he could have flown from Miami to Thai-

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land for $900. This passenger opted to fly to

. Fort Lauderdale by Spirit, and drive to Miami.

The roundtrip on this low fare aircraft was
$133.

American Airlines can price gouge on its
Miami route because it has no real competi-
tion, but it’s a different story on its Fort Laud-
erdale route where it has to compete with the
low fares of Spirit. American’s fares on this
route are comparable to Spirit’s. The secret?
The market forces of competition.

And yet can the low fare aircraft handle the
demand? We know what happened to Jet
Blue when it had a melt down on a runway
recently inconveniencing thousands of pas-
sengers.

Over the weekend Spirit seemed to be hav-
ing a similar problem on its Fort Laud-
erdale/Nassau route. And, of course, the
screening of baggage, probably heightened
by the terrorists scare a few days ago at Glas-
gow’s main airport in Scotland and the two
cars filled with explosive in London’s Hay-
market, made security at US airports tighter,
thus delaying take-off times.

Tomorrow we shall tell you the story. of a

party of six, who having planned their week- .

end vacation to Nassau more than a month
ago, arrived in Nassau on Saturday. Although,
they flew on the same day, they flew by Spir-
it on different flights. They all arrived without
their luggage.

A young mother, travelling alone with her

two-year-old daughter arrived at Fort Laud-.., |;

erdale airport at 1.30pm for a 4pm flight to
Nassau. Mother and baby arrived in Nassau at
6pm, having spent four and a half hours at
Fort Lauderdale airport for a 27 minute flight
to Nassau, and another hour and a half on
the Nassau side waiting in line to fill out a
form for her missing luggage — six hours in all.
As she said, she could have almost been to
London in the time she spent at two airports
just trying to spend three days in Nassau.

“It’s just not worth the hassle to come to
Nassau,” she said, looking as worn out as if she
had in fact made the tiring transatlantic cross-
ing.

Sunday was wasted trying to locate her
missing luggage, which in fact did not arrive
until Sunday afternoon. When the six mem-
bers of the party got together they had a sim-
ilar story to tell — all were fed up. And on this
end they were more than annoyed with the
lack of information that Nassau Flight Ser-
vices could give them about their luggage —
but that story is for tomorrow.

While the mother was ready to collapse, the
fretful baby girl’s only concern was for her
missing teddy bear — a question at that point
no one could answer.









THE TRIBUNE

»

Important

event for !
Eleuthera

EDITOR, The Tribune

THIS past weekend was most

significant for the beautiful —

island of Eleuthera. A milestone
in the economic development of
that island was realised. The his-
torical inaugural direct jet flight
between Atlanta (the Global
Gateway to the world) and
North Eleuthera took place. This
flight represents the only direct
international flight into North
Eleuthera from a destination
other than Florida. Not since
Pan American Airways intro-
duced direct flight service
between New York and Rock
Sound Eleuthera in the late
1960s has there been so much
excitement and anticipation on
Eleuthera. There had been oth-
er jet services into Eleuthera,
but they were basically charter
flights. What is now available is
a regular scheduled commercial
flights that anyone including
local Eleutherans can make a
reservation and travel to or from
Atlanta several days a week.
Ordinarily one would expect
each day in the Bahamas to be
filled with golden sunshine and
any humidity described as “liq-
uid sunshine”. However, cloudy
skies greeted Delta Flight 4457
that touched down at exactly
2.35pm on the afternoon of Sat-
urday, June 16, 2007. By coinci-
dence, this day is also the 44th
anniversary of the opening of
the North Eleuthera Airport
which opened on June 16, 1963.
The traditional water arch wel-
come of a new vessel entering a
new port facilitated by the North
Eleuthera Fire Department wel-
comed the flight. As if to also
welcome this new venture, for a

brief moment, the sun came out |
' and'the rain took'a recess. My

only disappointment for the
afternoon was that unlike other

ons when there were inau-
sural flights to Nassau or
Freeport, Junkanoo was not

.made a part of the welcoming

committee. I am of the humble
opinion that any promotion of
the Bahamas or Bahamian
tourism must include the nation-
al culture of the Bahamas. In the
absence of Junkanoo, the Har-
bour Island Marching Band did
make a sincere effort to fill the
void with their spectacular per-

_ formances.

The official ceremony was
brief but to the point as the air-
craft and some of the dignitaries
had to return to Atlanta. The
underlying message was simply
that Eleuthera is on the move.
Delta’s extremely enthusiastic
spokesperson for the event, Mr

- Charles Rowe emphasised the

opinion of all the other speakers.
Eleuthera has the potential to

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become Delta’s best destination.
Mr Rowe also stressed Delta’s
commitment to the Bahamas.
This was reflected by a similar
exercise that took place just an
hour earlier in George Town,
Exuma where an inaugural flight
had also landed. For the first
time in Delta’s history, a “dou-
ble-header” was performed by
having two inaugural flights on
the same day in the same coun-
try.
Other speakers for the day
included the new Junior Minister
in the Ministry of Tourism, the
Hon. Branville McCartney. He
shared his government’s plan for
the development of the Bahami-
an tourism product. Special men-
tion was made of J Allen Mal-
colm, the pioneer of the devel-
opment of the winter resident
industry in the Out Islands of
the Bahamas. Beginning in the
1950s, Allen Malcolm developed
The Pink Sands Lodge, one of
the first such developments in a
Bahamian Out Island. His com-
mitment to the nurturing of this
resort has resulted in an institu-
tion known world wide for excel-
lence and a playground for the
social elites. Clearly, this father
of the winter resident industry
must be credited with setting the
stage for Harbour Island being
the Diamond in the Crown of
the Bahamian tourism industry.
In terms of visitor satisfaction
and repeat visits, Travel and
Leisure magazine has awarded
Harbour Island with not just
being the best in the Bahamas,
but in the entire region which
includes 26 different countries
featuring 44 destinations.

The success of Allen Malcolm
with the Pink Sands in Harbour
Island encouraged others to
invest in Eleuthera’s promising
tourism industry. One such indi-
vidual was Juan Trippe, the
Chairman and co-founder of Pan
American Airways. In addition
to introducing direct flights
between New York and Rock
Sound, he also developed the
five-star resort that was the Cot-
ton Bay Club. In those days
along with the development of
other resorts such as Winder-
mere Island, home of Britain’s
Royal Family, Eleuthera became
synonymous as the destination
of. choice for the Rich and
Famous.

Unfortunately, for whatever
reason by the late 1970s, the Pan
American flights ceased. The
increase cost of fuel and opera-
tions impacted the feasibility of

these flights. The result was a
valuable lesson for those who
market the tourism industry. »
With little or no direct interna-
tional flights, most of the
Eleuthera hotels were forced to ,
close. This devastated the
Eleuthera tourism industry
which has not recovered up to .
this day. Fortunately for Har-
bour Island, the North Eleuthera -
Airport and amphibious sea- |
planes landing at “The Ramp” .
continued to feed the growing .
Harbour Island tourism market.
Even up until today, Harbour ,
Island continues to be the eco- ,
nomic breadbasket for Eleuther- ,
ans working in the tourism
industry.

The forces moving the tourism _
industry in the Bahamas is “a
chicken and egg” situation. *
Which must come first, the °
chicken or the egg? For exam-
ple, in Grand Bahama there has '
been little net growth in tourism.
The number of hotel rooms has
stagnated and a stalemate has
developed. The airlines say that
they will not add more seats |
until there are more hotel
rooms! The hotel industry says °
that they will not add more'
rooms until there are more air-
line seats. This has become a no
win cycle.

The additional. airlift that
Delta is providing to Eleuthera
simply means that there is now
more of a demand for more hotel :
rooms. With a number of'
Anchor Projects in various stages

.of development, it should be just

a matter of time before
Eleuthera returns to its former?
glory. Already, one such devel-s
opment, the Royal Island Resort»
at its Heads of Agreement sign-*
an in December 2006 request-;!

that government extend they
runway at North Eleuthera‘ 1
another 1000 feet to accommo-*
date new air traffic that is expect-*
ed. Already, the White Crown}
Jet Centre accommodates a num- +
ber of Lear Jets and other Exec-*
utive aircrafts. What is needed is *
a master plan involving all the |
stakeholders in the industry of
the future development of North
Eleuthera Airport. A Control;
Tower, a new Terminal Building § .
with a proper TSA team with!
modern security equipment ands ,
additional parking on and off the *
airfield must be given top priori- ‘
ty. For the first time in Bahamian *
history, Tourism and Aviation is,
housed under the same Ministry.
This arrangement should be per-«
fect to eliminate the “chicken and * ‘
egg” syndrome.

DR LEATENDORE
PERCENTIE
“Briland”’

June 19, 2007.

Family Islander
Package

Room+Rental Car............

Room (2 persons)

aeeneane $115.00 (per night)

$65.00 (per night) ;,

Available Sunday- Thursday
with ticket & proof of travel

Rooms with Kitchenettes, Microwaves, Refrigerators. | ,
A/C and Cable Television. Swimming Pool. Beach 300
yards away. Bus stop outside.

Orchard Hotel Village Rd.
Reservation: (242) 393-1297
Fax: (242) 394-3562
www.orchardbahamas.com/orchardbahamas@gmail.com —

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Typing ability or keyboard skills,
computer knowledge.

Bring resume.

Phone: 327-6032 for more information
ssmith@skybahamas.net


THE TRIBUNE

MONDAY, JULY 2, 20U0/, PAGE 5





Cuba says
1960 CIA plot
reflects current
US policy

@ HAVANA

COMMUNIST Cuba's par-
liament said Friday that a 47-
year-old plot to. assassinate
Fidel Castro still reflects the
reality of US policy toward
the island, according to Asso-
ciated Press.

CIA documents made pub-
lic this week described the
agency's recruitment of a for-
mer FBI agent in August
1960 to use mobsters and poi-
son pills to kill Castro.

“What the CIA recognises
is not old history. It is pre-
sent-day reality and the facts
show it,” stated a resolution
approved unanimously by
Cuba's National Assembly.

Acting President Raul Cas-
tro, seated next to the empty
chair of his recuperating older
brother, presided as the legis-
lature passed a declaration that
“the CIA documents reveal
part of the efforts to kill com-
rade Fidel Castro and bring
death and pain to our people.”

"The conduct of the Bush
government clearly shows its
intention to keep employing
the worst possible tactics
against Cuba."

Revelations about the CIA
plot were among hundreds of

- pages of CIA internal reports,
known as "the family jewels,"
released this week.

The documents show that
in August 1960, the CIA
recruited an ex-FBI agent to
approach mobster Johnny
Roselli to take part in a plot
against Castro, who took
power in January 1959.

The agency gave him six
poison pills, which they tried
unsuccessfully to have other
people put in Castro's food.
The plot was scrapped after
the failed ClA-sponsored Bay
of Pigs invasion of Cuba in
April 1961.










FOR 3 IN 1 LAWN SERVICE

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a fer Maa CAMEL ey
322-2157

) Colors

health fund is
inadequate,

Dr Bernard Nottage charged
that the government’s National
Health Fund is inadequate to
meet the Health care needs of
Bahamians, as compared to the
former government’s NHI
scheme.

Dr Nottage, leader of oppo-
sition business in the House,
addressed health care matters
at the Speaker’s Forum, held at
the Hilton last Wednesday.

The former health minister
said that “despite the fact that
NHI has gained the support of
the vast majority of Bahami-
ans,” the FNM government,
which in opposition voted for
NHI legislation, has abandoned
the scheme in favour of a
National Health Fund.

This fund, he continued,
which seeks to assist with the
purchase of prescription med-
ication for specific chronic ill-
nesses, merely duplicates a pro-
gramme that is already in place.

“Patients in the Bahamas can
receive their medications free
of charge today from publicly
owned pharmacies, although
the process may be cumber-
some and inefficient,” he said.

“Further, the elderly, even
now, are issued a med card,
which they can use to access
their free government supplied
medications. These medicines
are not restricted to specific dis-
eases either,” he added.

Dr Nottage said that the cur-
rent system of public and pri-
vate health care in the
Bahamas, is inadequate as is
currently constituted.

“In The Bahamas, some’say

sneakerDoun

Rosetta St. -



Bi BERNARD Nottage

that, health care is available to
all who need it, either through
the private or public health sec-
tor. This may very well be true.
However, the fact is that the
health services available in the
public sector is limited, and too
often do not meet the patient’s
satisfaction. The health services
in the. private sector is often
considered better, but is too
often out of reach, even of the
insured, because of the cost,”
he said.

“Outside of this necessary
financing, the PLP believes that
governments in The Bahamas
are obliged, to remember that

more than 50 per cent of the-

population has no financial pro-
tection through health insur-
ance. This presents the chal-
lenge of providing access to
quality care for all Bahamians,”

ve se
TM23)



Ph: 325-3336

charges Nottage

he added.

The NHI scheme his party
laid out, which would see
employers, employees and the
government contribute to the
comprehensive health care
needs of Bahamians, would
eliminate the need for cook-
outs, Dr Nottage said.

And he emphasized that
“access to quality health care
regardless of economic and
social status is a fundamental
right.”





The

GIFT & BRIDAL REGISTR

wy Harbour Bay Shopping Centre
Se Ph: 393-4440 or 393-4448

(Wer,

i)



Benefits of

Listing Exclusively

Mi By JESSICA ROBERTSON





MRIDLEY Carroll, Realtor

Even with an active real
estate market in The Bahamas,
properties do not sell
themselves. The experienced
team at Damianos Sotheby’s
International Realty knows
that it takes knowledge and
dedicated work to market
and sell properties
They find that for
sellers, the best
option is to list
exclusively.

An exclusive ,
marketing
agreement
with Damianos #
Sotheby’s
International
Realty guarantees
accesstoa vastarray
of unique tools,
each —_—_ designed

exposure a property gets and
increase its sales potential.

Perhaps the biggest
misconception of an exclusive
listing agreement, says Ridley
Carroll, a Damianos Sotheby’s
International Realty agent, is
that such an agreement limits
exposure.

“Just because a property
is listed with us exclusively
does not mean that we are the
only ones trying to sell it,” he
explains, “With our custom
marketing programmes, we
actively market your property
to the local and international
real estate ~— brokerage
community, ensuring that as
many prospective buyers are
aware of your property as
possible.”

Another benefit for sellers
is that their exclusively listed
property is shown by only the
principal agent, eliminating
the hassle of multiple eager
agents calling to arrange
showings.

This is just one of the



specifically to broaden ‘the ;

many ways Damianos
Sotheby’s International works
to sell properties _ listed
exclusively: with the agency.
Immediately upon signing
an exclusive
agreement, your property
is featured on Damianos
Sotheby’s International
Realty’s dedicated site www.
SIRbahamas.com and featured
on www.sothebysRealty.
com; www.sothebys.com;
www.LuxuryRealEstate.

com with direct web feeds to

www.NYTimes.com, www: Ht
RealEstateJoumal.com(which

is the Wall Street Joumal’s
website) and the International
Herald Tribune, as well as four
other US-based sites and three

‘UK-based websites including

www.Knightfrank.com.

eceens

Another misconception
about exclusive listings is that
the service is only offered for
high value properties. Not so,
says Maxine Hussey, Director
of Operations at Damianos
Sotheby’s International Realty.

“Regardless of the listing
price, all of our clients benefit
from the exhaustive list of
services and tools available
to exclusive listings. Not only
is the agent you've dealt with
actively working on selling
your property, I personally
manage the placement and
marketing administration of
each exclusive listing and
I have to say, the custom
marketing programmes
offered by — Sotheby’s
Intemational Realty are
always being __ updated
and new opportunities are
continually being added,” she
says. All exclusive listings
are showcased via Intemet
feed throughout the extensive
local office network and

homes valued in excess of
$1.5 million are also featured
on the global Sotheby’s Office

marketing —





Network including the New
York and London Auction
Houses.

Despite the increasing
popularity of web-based
marketing, many buyers still
like to hold a glossy brochure
in their hands. Properties listed
exclusively with Damianos
Sotheby’s International Realty
are featured in a full colour
brochure that is distributed to
brokers and agents throughout
the Bahamas and are also

delivered to and displayed

in the lobbies of banks, trust
companies, law. firms and
other industry partners. Plus
brochures featuring Bahamian
properties are sent to targeted
Sotheby’s offices and
mailing lists in key markets
worldwide, ensuring that the
. right people see
what is available.
Earlier this
year, Damianos
Sotheby’s
International
Realty launched its
monthly electronic
newsletter which
features _ photos
and descriptions of
exclusively listed




properties with

links to the www.

#23 STRBahamas.com

website for more details and
photos.

Local and intemational

newspaper and magazine

advertising is the final tool
in the Damianos Sotheby’s
Intemational Realty arsenal
of marketing opportunities
with weekly listings in
The Tribune Real’ Estate
Guide and targeted property
marketing in an array of
magazines including Reside,
the new publication offered
by Sotheby’s International
Realty plus Unique Homes,
The DuPont Registry and

Luxury Real Estate Magazine
and Network.
Damianos Sotheby’s.

International Realty has
offices in Nassau, Abaco
and Eleuthera and markets
properties of all sizes and price
points located throughout
The Bahama islands. Their
qualified team boasts over
135 years of combined
experience, and regularly goes
the extra mile when it comes
to customer service.

For more information log
on to www.SI Rbahamas.com.


PAGE 6, MONDAY, JULY 2, 2007

THE TRIBUNE



FURS ae RIE 008 ld ger SS
The new British government and
its future with the Caribbean

By Sir Ronald Sanders
(The writer is a business exec-

utive and former Caribbean
diplomat)

B RITAIN remains of
sufficient importance

to countries of the Caribbean

that many of them will be
deeply interested in how the
change of Prime Minister from
Tony Blair to Gordon Brown
will affect them.

The one person of Caribbean
origin in the Blair Cabinet,
Baroness Valerie Amos, has
gone but another person of
Caribbean origin has joined

URGENT NOTICE

This notice is to inform the general
public & our valued customers that
Ms. ANN FORBES is no longer
employed by LOWE’S ALARM
SERVICE LTD., and is no longer

authorized to conduct any form of
business on behalf of Lowe’s Alarm

Services Ltd.

Management.

In Memory of The Late
Kent Evan Villiere Reid IT

We always took for granted

What we thought we'd never lose

Because we never thought it would happen

Till we heard the dreaded news 2

They say you were chasen fo
His precious hand picked bougus

Saying paddies is neve
It's the hardest thing te
But what hurts us even
So today Jesus, as as y
Would you go and fi
And give him all-our dove.

‘a. Say it to you
*

Left to cherish his memories are wife Akira, Children, Kentira, Kent
HI, Rashad and Rasheik, Parents Kent and Gloria Reid, host of

family and friends





VACANCY NOTICE

The Grand’ Bahama Power Company, Limited invites qualified candidates to apply
for the position of Technician Il (Instrument) in its Generation Department.

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Brown’s Cabinet — Baroness
Patricia Scotland.

Guyana-born Baroness Amos
held many positions in the Blair
administration including For-
eign Office Minister, Secretary
for International Development
and finally Leader of the House
of Lords. She has now been
nominated for the post of Euro-
pean Union (EU) special rep-
resentative to the African
Union.

Dominica-born Baroness
Patricia Scotland is the Attor-
ney-General in Brown’s gov-
ernment. Undoubtedly, this is
a remarkable development. It
is the first time in British histo-
ry that a woman is Attorney-
General and the first time that a

black person holds this impor-

tant post.

Baroness Scotland had also
served the Blair government as
parliamentary under secretary
in the foreign office, parlia-
mentary secretary at the Lord
Chancellor’s Department and
recently as Home Office Minis-

, ter of State for the Criminal Jus-

tice system and Law Reform.

B etween them, these
two Baronesses exer-

cised considerable influence in



given to Caribbean causes.

The new Foreign Secretary is
David Miliband. While there is
no record of his showing any
interest in the Caribbean, there
are indications that his views on
some issues coincide with the
expressed positions of
Caribbean governments. For
instance, even though Mr
Miliband’s heritage is Jewish,
he has criticised both the US
and Israel over the Israeli attack
on Hezbollah last summer.

On climate change, which is
an issue of great concern to
Caribbean countries, because
of increased and more intense
hurricanes linked to global
warming, he has considerable
interest and is sure to push it as
part of Britain’s foreign policy
agenda. He has also shown that
he is not reluctant to face up to
issues with the United States
and last year he made it clear in
a,speech in the US that the chal-
lenges of climate change



It is to the new Foreign Secretary
and other ministers in the British
foreign and commonwealth office
as well as the new International
Development Secretary that the
Caribbean will have to look to
ensure that it keeps what little
attention is given to Caribbean

causes.



getting the Blair administtation:â„¢:
“““to pay some attention to the ~
.. Caribbean.

Although Baroness Amos
has gone at Gordon Brown’s
behest, the fact that he has pro-
moted Baroness Scotland to the
post of the government’s senior
law adviser will help to retain
the votes of Caribbean people
in the UK who have tradition-
ally supported the Labour Par-

ty.

But, it is to the new Foreign
Secretary and other ministers
in the British foreign and com-
monwealth office as well as the
new International Development

Secretary that the Caribbean

will have to look to ensure that
it keeps what little attention is






























Heepiag Grand Bahamas Faure Brighé



2 @emg@na-< strong leadership” m
- from Washington if they are to

be met successfully.

A: I write this com-
mentary no

announcement has been made
about Lord Triesman, the for-
eign office minister who had
responsibility in the Blair gov-
ernment for relations with
Africa, Latin America, the
Caribbean, Overseas Territo-
ries, and the Commonwealth.
But, at least one of his sub-
ject areas, Africa, has gone to
an interesting new foreign office
minister who, while he will not
be a Cabinet minister, will

YOUR CONNECTION

| AGN

@ SIR Ronald Sanders

attend Cabinet meetings as nec-
essary. This is Malloch Brown,
who served as an aide to for-
mer UN Secretary-General,
Kofi Anan, and who was critical
of President George W Bush’s
administration over Israel and
Lebanon. He will also have
responsibility for Asia and the
UN. In many policy areas such
as the middle-east and devel-
opment issues, Malloch Brown’s
and many Caribbean govern-
ments should see eye to eye.
The other appointment that
should be of interest to the
Caribbean is the Secretary for



the European Union (EU) for
an Economic Partnership
Agreement. To underscore
Alexander’s importance, Gor-
don Brown has also appointed
him the coordinator of the
Labour Party’s strategy for the
next general election. He will,
therefore, wield considerable
influence.

A: for the new Prime
Minister himself, he

has shown little interest in the
past in Caribbean matters. And,
it will take some doing for the
Caribbean to engage his atten-
tion for two main reasons.

First, he now has both eyes
on establishing himself in the
minds of the British electorate
as the man best able to lead
them after the next general elec-
tions. In this, he has a fight on
his hands and the opposition
Conservative Party has wasted
no time in making his life
uncomfortable. Brown has set
himself an agenda for change
— change in education, health
and housing particularly. It is
an agenda that will occupy his
every waking moment.

Second, throughout his peri-
od as Britain’s Finance Minister,
Gordon Brown’s overseas pre-
occupation has been poverty in
Africa. This is unfinished busi-
ness, and the Caribbean will
recede deep into the back-
ground as he struggles to tackle
it under pressure from several
vocal and influential non gov-
ernmental organisations.

If the Caribbean is to engage
this new Brown government,



If the Caribbean is to engage this
new Brown government, much
work has to be done at the diplo-.

‘matic and: ministerial levels. ‘And,

the help of the Caribbean Diaspora
in the UK will be vital, particularly
as general elections approach.



International Development. He
is Douglas Alexander a close
political ally of Gordon Brown’s
having served in the past as his
researcher and speech writer.
Alexander has been Minister
of Trade and Minister for
Europe, so he should be no
stranger to Caribbean issues in
the current negotiations with

much work has to be done at
the diplomatic and ministerial
levels. And, the help of the
Caribbean Diaspora in the UK.
will be vital, particularly as gen-
eral elections approach.

Responses to: ronald-
sanders29@hotmail.com

THE WORLD

PUBLIC NOTICE

GSM UPGRADE

In its

continuing effort
telecommunications
Telecommunication Company Ltd.

to
Service,

improve _ its

The Bahamas

(BTC)

wishes to inform its valued customers and the
general public, that BT'C will be performing an

equipment

upgrade to the GSM _ cellular

platform. Beginning Friday June 29th Sunday
July 15th, subscribers in Grand Bahama and
New Providence may experience an interruption
in both Post Paid and Pre Paid GSM services.
BTC apologizes for the inconvenience caused,
and assures the public that every effort will
be made to keep this disruption of service to a

minimum.


—— Sow wires


a

“Se 2 NP LL TTS RM eSB 2 2 & WARS

Pr... "as aes SSR SEO Oest * "oa ea ees oR FF *

THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 7



© In brief

Puerto Rico
court not to
hear appeal
on legislature

m@ PUERTO RICO
San Juan

PUERTO Rico’s Supreme
Court declined to hear an
appeal of a voter-endorsed plan
for a new unicameral legisla-
ture that was blocked by the
island’s House of Representa-
tives, according to Associated
Press.

“Any other decision on our
part would be opposite to the
democratic system of govern-
ment and to the Constitution
that we are sworn to defend,”
Chief Justice Federico Hernan-
dez Denton wrote in Friday's
23-page decision.

In a July 2005 referendum,
voters in the US Caribbean ter-
ritory overwhelmingly approved
the concept of reorganising the
legislative branch under a single
house, saying it would stream-
line government and reduce
political infighting.

Opponents said it would cre-
ate a system that would be less
open and democratic, with few-
er checks and balances.

The 27-member Senate had
approved a bill allowing for
another referendum on the
issue. But in January the larger
House voted not to take up the
measure, effectively killing it.

Senate President Kenneth
McClintock said the court’s
decision affirmed that the 2005
referendum had created “exag-
gerated expectations” among
voters that a one-house legisla-
ture would be established.

A group backing the plan said
it would continue to lobby for a
unicameral congress.

Outrage as
former police
captain is
released

@ DOMINICAN REPUBLIC
_ Santo Domingo

€

aaa AN, ex-police captain chas 7
’ “Been exonerated and freed from *

prison in the 2004 slaying of his
brothers-in-law, his attorney
said Friday, according to Asso-
ciated Press.

Relatives of the two victims —
Harry Sanabria, a 43-year-old
metal worker from Stormville,
New York, and Dominican tai-
lor Hector Garcia — expressed
outrage at a panel of judges'
decision to overturn ex-Capt.
Eleccio Soto Roa's murder con-
viction.

"All the healing that had tak-
en place has just gone by the
wayside," Diana Sanabria, sister
of one of the victims, said by
telephone from New York City.

The men were killed while
riding in an SUV with Soto Roa
near the northern city of Cabr-
era on July 4, 2004.

A witness testified at two tri-
als that he heard gunshots from
inside the vehicle, saw it crash
into a tree and then saw Soto
Roa emerge from the back seat
and flee with a gun in his hand,
according to Mercedes Pena
Javier, a lawyer for the victims'
families.

After the initial conviction,
Soto Roa was thrown off the
police force and sentenced to
20 years in prison.

But in a June 22 trial ordered
by an appeals court, judges
ruled that evidence had not
been properly filed and refused
to consider the results of a bal-
listics test, lawyers for both sides
told The Associated Press.

Chief Judge Wendy Altagra-
cia Valdez declared Soto Roa
not guilty of voluntary homi-
cide, and ordered the charges
dismissed and his court costs
compensated.

of things we
think, say or do

1.ls itthe TRUTH?

2.\s it FAIR to all
concerned?

3. Will it build
GOODWILL an
BETTER i
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www.rotary.org



By DENISE MAYCOCK
Tribune Freeport Reporter:

FREEPORT — Marco City
MP Zhivargo Laing says he is
not at all worried about the
impending election court pro-
ceedings in reference to peti-
tions filed by the PLP to con-
test his constituency seat in
Grand Bahama.

The Minister of State for
Finance said that while it is
their right under the law to
oppose the results of the May 2
general elections, “the FNM
will do what it has to do to
defend its cause in the courts".

’ The Progressive Liberal Par-
ty has filed petitions contest-
ing three seats — the Pinewood
and Blue Hills

constituencies in New Prov-
idence, and the Marco City
constituency in Grand
Bahama.

The seats were officially won
by the FNM by a small mar-
gin — less than 100 votes. In
Marco City, Mr Laing

defeated former PLP MP
Pleasant Bridgewater by 47
votes.

The FNM won 23 seats to
the PLP’s 18. Wayne Munroe,
counsel for the PLP, has stated
that the petitions are primarily
based on the party’s assertion
that non-citizens voted in the
election, along with persons in
constituencies where they did
not live.

Mr Laing, Blue Hills MP
Sidney Collie, and Pinewood
MP Byran Woodside were all
served with writs last week.

While in Grand Bahama on
Friday at the opening of his
constituency office in the Sun-

rise Shopping Centre, Mr
Laing met with his supporters,
residents of Marco City, and
the news media.

Asked how he felt about the
election court proceedings he
responded: “I believe there
are many rights that people
have in this country under the
law, and obviously the opposi-
tion had decided to exercise
that right.

“It doesn’t concern us what-
soever. We have done and are
doing our due diligence, and
we believe that the basis of the
petitions is unfounded. But, we
are going

to do what we have to do to
defend our cause in the courts.

“For the time being, we are
really focused on representing
the people of Marco City and
doing what is necessary for
them and what advances this
community, that is my focus at
the moment,” said Mr Laing.

Mr Laing said that $100,000
has been allocated in the Bud-
get for the residents of Marco
City.

“We are working feverishly
on organising how to spend
that $100,000...for the resi-
dents of Marco City,” he

said.

Although Mr Laing had
opened his campaign office at
the same venue before the
elections, he explained

that they are now officially

launching the Marco City MP’s -

office.

“We have developed some-
thing that all residents of Mar-
co City can feel free to come
and meet with the MP to
obtain information about the
activities, functions, and plans





A

@ MARCO City MP Zhivargo Laing, Minister of State for Finance, is seen with a constituent at

Laing: ’'m not worried about
_the PLP’s election challenge



the opening of his MP's office on Friday in the Sunrise Shopping Center complex
(Photo: Sharon Williams-Turner.)

of the MP,” he said.
He said that residents also

. will be able to obtain informa-

tion about Bills being debated
in Parliament, receive infor-
mation about laws that have
been passed, and make input
into things happening in Par-
liament.

Mr Laing said the office also
has a computer area anda
mini-library available for the
residents of

Marco City:

“We want this to be a place
where they can come and
access information from the
Internet. We also provided a
mini-library so residents, are
able to borrow books from
here, and return them.

“This (office) is just really to
provide a central place for

ary get.

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exchange of information
between myself and the resi-
dents of Marco City so that
whatever concerns they might
have, they are able to voice it
even if I am not here, which is
important because my ministe-
rial responsibility has me in
Nassau almost five days out of
the week,” he said.

Mr Laing also will be initiat-
ing programmes and activities
for the young and elderly.

He said they are working on
establishing a Marco City Schol-



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PAGE 8, MONDAY, JULY 2, 2007 THE TRIBUNE

Passing out for youth service graduates |










@ GRADUATES of the National Youth Service Restorative Programme
carry the Bahamian flag above their heads before raising it to launch the start of the Passing Out
Ceremony on Friday in BARC, North Andros. Forty-one young men completed the nine-month
course to improve their academic, physical and social skills.



rae: |



& GRADUATES of the National Youth Service Restorative Programme Junior Life Division
march past ,

@ FROM Left: Minister of State in the Ministry of Social Development Loretta Butier-Turner,
Vincent Peet, member of parliament for North Andros and the Berry Islands, and Neville Wis
dom, former Minister of Youth, Sports and Culture, are shown in attendance at the ceremony



nL

B MINISTER of State in the Ministry of Social Development Loretta Butler-Turner delivers the
keynote address at the ceremony









= RAD US Leon tac National Youth Sery. ice Restorative Programme Junior Life Division terfield, 16, goes up for a high-five with his mother Druscilla Butterfield, as they celebrated togeth-
drop to their knees and snap a salute during a drill

er after his Passing Out Ceremony . Ms. Butterfield was elated over hearing the news of her son’s
3.1 grade point average score and hopes to secure a scholarship for him in a school in Grand
Bahama.









mt toh a.

li GRADUATES of the National Youth Service Restorative Programme Junior Life Division ® National Youth Service Restorative Programme Junior Life Division graduate Shaquille Poitier,
remove their berets during a drill 13, gets a big embrace from his mother Marina Poitier

(Photos: BIS/Tim Aylen)
THE TRIBUNE



LOCAL NEWS



MONDAY, JULY 2, 2007, PAGE 9

M@ Terry Fountain- President of Cancer Society of the Bahamas, Toni Gad - Island Manager at Dia-
monds International, Anthony Smith - Marketing Manager at Diamonds International

(Photo by Sandra Ford)

Jewellery firm
donates to
Cancer Society

@ TAMARA FERGUSON

A LOCAL jewellery store
yesterday pledged its commit-
ment to support individuals with
cancer.

Diamonds International pre-
sented a donation to the Cancer
Society of the Bahamas during a
press conference at its head-
quarters in Beaumont House.

Toni Lad, Island Manager of

_ Diamonds International, said
that the donation will assist indi-
viduals with cancer and will in
some way help to alleviate some
of the mental, emotional and
financial stress that cancer
patients go through during this
period.

“This cheque presentation
would not have been possible
without the commitment and

* support of Diamonds Interna-

tional staff in this initiative.”
According to Ms. Gad, 15 per
cent of all local sales made dur-
ing the month of May was
donated to the Cancer Society.
Senior Promotional Officer,
Peter Rahming of Diamonds
International’s social club, said

that the company has also orga-
nized an incentive to donate
blood for the blood bank at
Princess Margaret Hospital.

According to Mr. Rahming,
this event is projected to be held
annually in conjunction with
other like-minded corporate cit-
izens such as Vitamalt, Guin-
ness, The Burns House Group
of Companies and Gippy’s
printing, all supporters of the
blood drive, which is to take
place on July 5th at the Dia-
monds International board
room in Beaumont House, Bay
Street.

Terrance Fountain, who
received the donation on behalf
of the Cancer Society, said that
there are many challenges faced
by the Cancer Society, such as
financing and voluntarism.

“Persons are not volunteer-
ing at the level they used to in
the past. There are a number
of areas that persons can vol-
unteer to assist with, as we offer
training for those persons who
are interested,” he said.

However, hé added that the’ ~

cheque will be used to offer fur-

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leading causes of death in the

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PAGE 10, MONDAY, JULY 2, 2007

THE TRIBUNE



Gran

THE Red Rose Ball brought
out some of Grand Bahama’s
most prominent and influential
people last weekend.

An evening of jazz, the affair
with an all-white colour scheme,
was held on Saturday, June 23,
in the Pavilion at the Westin
and Sheraton at Our Lucaya,

_ hosted by Colinalmperial and
the Red Rose Ball Committee
_.and sponsored by BTC, Sun-
bound and Bristol Wines and
‘Spirits.

The event was the first cock-
tail reception held by the Red
Rose Ball committee, in a con-
tinued effort to raise funds for
the awareness of HIV/AIDS in
Grand Bahama.

The cocktail reception began
at 6pm by moderator Lin Glin-
ton, co-chairman of the Red
Rose Ball Committee to the
sounds of sultry jazz played by
DJ Elvis Andrews.

As guests arrived members
of the Red Rose Ball Commit-
tee greeted them and invited
them to cocktails.

At 7pm the melodious sounds
of Shelly Carey and Friends
began as supporters took to the
dance floor. The night of enter-
tainment flowed with exhilarat-
ing jazz music, fine wine and
good company. Additional
entertainment was provided on
the violin by Ms Africa
Karamo, an experience most
Bahamians are not fortunate to
experience.

The decor for the event was
second to none. The idea was
to transform the Pavilion into
an outside gazebo with white
organza flowing in the breeze
around the perimeter of the
outside of the room. The panels
of organza were accented with
bamboo poles. Inside the tables
were covered with white linen
and organza ties around the



@ PRESENTATION to sponsor. BTC representative, Marsha
Cooper, from RRB committee chairman Odette Knowles and
RRB committee finance officer, Minerva Kemp.

elbow high cocktail rounds.
Natural coloured bar stools
were placed at the elbow high
tables and natural coloured
chivari chairs with white pads
were placed at the low cocktail
rounds. A bundle of bamboo

and white orchids tied with raf-
fia as centrepieces on a palm
frond were placed on the low
tables and the same type of
bundle was placed standing tall
on the elbow high cocktail

tables. Small votive candles .



gC



-CHAIRMAN RRB committee - Lin Glinton chatting with Dr Duranda Ash, Minerva

Kemp, Angela Burrows and Joyce Case:

were added to each arrange-
ment.

The most amazing attraction
was the clutter of dried tree
branches pouring out of the
chandelier with an array of
floating votive candles in mid-
air. :

Two Bamboo bar surrounds
with thatched roofs and clear
chandelier bulbs were place
around the hotel bars with
white urns to display a cluster of
8’ tall bamboo poles. Many
candles were placed on the cre-
denza and tiki torches outside to

add to the atmosphere. With all
of this in place, the theme ofa .-

d Bahama’s Red Rose Ball is

“Tropical White Reception”
came to mind for all attending.
The decor was courtesy of Sun-
bound, one of the sponsors of
the event.

Presenters for the evening.
were Mrs Mavis Ward of the
Grand Bahama AIDS Aware-. -
ness Committee giving a brief
synopsis on the statistics of.



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@ PRESENTATION to spon-
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@ THE Red Rose Ball Committee members: Oswald Ellis,
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YOUR CONNECTION THE WORLD

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INTERRUPTION OF SERVICE ANDROS

The Bahamas Telecommunications Company
Limited (BTC) wishes to apologize to our
valued customers and the general public for
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June 27th, 2007 that affected toll calls to and
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THE TRIBUNE



declared success



a MARSHA Cooper, senior associate of Sante relation at BTC, a Mr comer an Employee of
the Year, BIC Mrs. Cathy Williams and Mr Williams.

HIV/AIDS in Grand Bahama,
and encouraging the communi-
ty to continue in the fight
against HIV/AIDS. Also, Mr
Derek Sands, chairman of the
Grand Bahama AIDS Aware-
ness Committee, also gave a
' brief update as to how the funds
raised will be spent and thanked

the supporters for their support ’

to such a worthy cause.

During intermission it was
time for the raffle and give-
aways, sponsored by BTC. All
those attending had the oppor-
tunity to win one of the many
cellular phones donated by
BTC. Some of the winners
were Dr Paul Ward, Dr
Catherine Adderley, Mrs
Monique Wilchcombe and Ms
Eunece Morris.

Then it was time to recognise
the sponsors by presentation of
awards by the Red Rose Ball
Committee’s chairman, Mrs
Odette Knowles. The sponsors
were each given a crystal award
thanking them for their spon-
sorship of the event. Mr Dash-
well Flowers, executive chair-
man of the Red Rose Ball Com-
mittee, gave) remar FKS on behalf

yeamwee



@ PICTURED left to right are Mr and Mrs Barry Malcolm, Mr
David Wallace and Mrs Carla Hanna-Wilson.

of Colinalmperial, host of the

event and thanked all for
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MONDAY, JULY 2, 2007, PAGE 11

2007

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‘weewerwaweweossteas «= «
PAGE 12, MONDAY, JULY 2, 2007

THE TRIBUNE



De. 5 oO an a
Atlantis is accused of not paying millions for woodwork

FROM page one

Mr Ingea said the dispute has
put the family business under
enormous financial strain as
banks continue to knock at his
door.

Now conversations between
Kerzner’s legal counsel and
his lawyer have allegedly
returned the response there
will be “an answer by the end
of the month” as to whether
he will get paid what he says
he is owed. But the experi-
enced business owner says this
is too long considering the cir-
cumstances, and he has
already heard “too many
excuses.”

His firm — the lowest bidder
— was contracted in 2006 to
carry out the wood work fin-
ishings inside The Cove,
including details in the lobby,
as well as doors and cabanas.
“Our pricing was good, our
quality was good,” said Mr
Ingea.

Now, he said, it appears that
by demanding the $3.5 million
Kerzner are “asking for every-
thing we’ve done since Feb-
ruary for free — pretty much
that’s what it equates to.”
February was the last month

that Mr Ingea said he was
paid.

In June, when he “finally” got
a meeting with PCL, which he
hoped would be an opportunity
to settle his account, he was told
that he would not be paid the
amount he had asked for as he
was to be charged $1.3 million
for additional air freight costs,
and $2.2 million for additional
labour costs — both unanticipat-
ed “rush” expenditures that he
believed Kerzner Internation-
al, being the authority pushing
the new hotel’s rapid comple-
tion, would bear.

This was despite the fact that
five months earlier, a Kerzner
official assured him that they
would cover the air freight costs
themselves, Mr Ingea said. He
produced what he claimed was
a copy of an e-mail from the
official as proof of this.

“Last Friday (June 24) I
received this document saying I
was to be back charged. This
was the first written document
I’d ever received regarding a
back charge — that’s not how it
works.”

He claims a senior PCL staff
member told him at that June
meeting that they were over
budgeted and would pay him

“whatever’s left over” after oth-
er bills are paid off — a state-
ment which he found startling.

Previously, Mr Ingea alleges;
he was ignored — as he sought
for months to get written con-
firmation that the air freight and
labour costs would not be borne
by his company.

Although he received verbal
assurances from PCL staff, e-
mails sent and copied to PCL
and Kerzner International
employees were largely unheed-
ed, he alleged.

He claims he was told that
the $2.2 million labour charge
was to pay a group of carpen-

‘ters that Kerzner brought in.

However, the only reason they
had to be brought in was
because Kerzner failed to
secure sufficient work permits
for his team.

“It started very politely:
‘We’re in a hurry, work permits
are being delayed, we hope you
don’t mind...but (the carpenters
brought in by Kerzner) will help
you out. Don’t worry you won’t
have to pay’.”

Due to these workmen’s

’ country of origin — suggested to

be the US or Canada -— their
wages are much higher in com-
parison to what he would have

paid his Lebanon-based staff.

“What I had budgeted
$150,000 for, they said would
cost $2.5 million,” said Mr
Ingea.

The air freight charges came
after those managing the pro-
ject said that shipping materi-
als by sea, as had been speci-
fied in his contract, would be
too slow. According to Mr
Ingea, he agreed to the idea,
but had no involvement in
choosing the carrier, or arrang-
ing payments. PCL, at the
behest of Kerzner, took charge
of all of this, he alleges. He then
heard nothing about it until
June 24, he said.

In addition to these unex-
pected charges, Mr Ingea said
that his company is not being

credited for innumerable ad hoc —

jobs done at the request of PCL
managers between February
and May. “They increased the
orders every two or three days,”
he said. “We went on in good
faith without asking for any
advance payment,” he said.
His workforce went about
satisfying these demands — often
working long, unsociable hours
on weekdays and weekends.
“My guys worked at 150 per
cent,” said Mr Ingea. “Where

there was poor workmanship
from others, we did repairs,” he
added. This included work in
May to correct details in the
Royal Suite prior to a visit from
Oprah Winfrey.

Mr Ingea claims the handling
of the situation is unlike any
previous experiences he has had
working on numerous hotels
worldwide.

He added that he still believes
The Cove represents “an out-
standing achievement by Kerzn-
er and its subcontractors”, and
still hopes that “common sense
will prevail” in the matter.

The Cove opened with much
fanfare in May, although visi-
tors had been renting suites
since April. Since that time,
there has also been dispute
over payment on behalf of a
significant proportion of the
hospitality staff, including
housekeeping and restaurant
workers. As of two weeks ago,
this matter had not yet been
resolved.

Vice president in charge of
public relations at Kerzner
International, Ed Fields, said
yesterday that the company has
no comment to make on Mr
Ingea’s claims as “this is a mat-
ter of legal dispute.”

Cocaine

FROM page one

The vessel intercepted Friday
may have been one of hundreds
of boats aiming to deliver cocaine
to the US market. AP reports
that most US-bound cocaine still
heads for the country by sea,
often weaving through the,
Caribbean on its way.

Dialysis
FROM page one:

the Princess Margaret Hospital
Foundation,” said Tameka S.
Forbes, Senior Manager - Busi-
ness Development, PR and,
Legal Affairs at the bank.

“As your Bahamian Bank,” |
she said, “we support this very
worthwhile charitable initiative..
We especially congratulate Mark *
Roberts for starting this drive; he
exemplifies the Bahamian spirit ,
at its best. His spirit is indicative .
of Bank of The Bahamas Inter-
national's own drive to offer the ©
very best products and services .
to our clientele." 5

The fund was launched by Mr,,
Mark: Roberts of the Tile King
and FYP, The Tribune, its radio ;
station 100 JAMZ and its part-
ners, radios Joy, and Cool FM.

Guana Cay campaigners slam BNT.

Christie

FROM page one

Mr Christie expressed sadness
over the event, and governmen-
t’s meddling with the Urban
Renewal Project during his

- weekly web chat.

“Too many Bahamians have
already suffered at the hands of
this new FNM government,” the
opposition leader said.

“This recent event has dis-
turbed me greatly and under-
scores the serious consideration
that must be given to who they
are voting for and why,” Mr
Christie added.

At the time of the murder,
Mr Christie said he was speak-
ing on the “urgent” need to
return officers to the various
Urban Renewal centres at
Worker’s House.

Prominent individuals such as
Police Commissioner Paul Far-
quharson and the head of the
Anglican Church, Archbishop



Don’t let your retirement be spoiled by









~ (of the'centre):""

WorldwideMedicalTrust

Drexel Gomez have lauded the _
programme as a bold social
intervention in the lives of
Bahamians, Mr Christie empha-
sized, in defense of the initia-
tive he created and championed.

A neighbour of the deceased,
who wished to remain anony-
mous, blamed the new govern-*
ment for their handling of the
Urban Renewal programme
since coming to office.

“T couldn't believe it when I
found out what happened last
night. I ain’t want start anything,
but before the election a police
car was always park up in front





"If that place was open, this
wouldn't a happen," he claimed.

Mr Christie’s criticism of the
government comes after PLP
MP for the area Kenyatta Gib-
son also bemoaned govern-
ment’s alteration of,the pro-

gramme. Mr Gibson said last _.

goes on offensive

urban renewal has done to }
change Nassau Village”, with :
troubled young men coming to ;
police officers involved in the :

scheme.

The Tribune was not able to
reach National Security Minister :
Tommy Turnquest for com- :

ments on Mr Christie’s remarks.
However, government had pre-
viously announced that there
would be changes to the Urban
Renewal programme.

Last Thursday, police rolled :
out their new neighbourhood :
policing programme, which :
seeks to divide the island of New :

Providence into zones, placing

more officers on the.streets and :.
in direct contact with commu- :

nities.

A further component of this :
plan is to ensure that each zone :
has the necessary allotment of :
police cars and bicycles, to :
ensure that there is a heightened :

~Priday- that he has “seen what “~ and sustained police presence.











FROM page one

SGCR alleges that the devel-
opment, which they have rigor-
ously opposed since 2005, has
damaged the environment of
Guana Cay by clear-cutting
every tree in a 100 acre area;
removing more than 70 acres of
mangroves; destroying crabbing
grounds; and disturbing turtle
nesting grounds through beach
raking.

SGCR is also particularly
opposed to the creation of a golf
course within 50 yards of reefs,
which they claim will destroy
the structures.

Glenn Bannister, president
of the BNT, on accepting the
pledge, said that the trust had
visited the development ear-
lier this year and was

impressed by the develop- |

ment’s efforts in following the
best environmental manage-
ment practices.

‘To this SGCR responded:

ot

“SGCR has secured the
professional services of some
of the best known scientists in
the region and all of them are
certain that a golf course with
its associated fertilizers and
chemicals this close to a liv-
ing coral reef is a recipe for
disaster. All of these scientists
have no personal interest in
the project and none of them
were paid for their work. They
have all stated uncategorical-
ly (sic) that this golf course

-will kill the reef at Baker’s

Bay and beyond.”

The $1.2 million donation by
Baker’s Bay to the BNT comes
in two parts. The BNT will ini-
tially receive $200,000 a year
for three years. These funds will
be used to assist with the man-
agement of national parks
throughout the country, with
special emphasis on projects

around Great Guana Cay and .

the Abacos.
The developers will issue a

catastrophic Medicals Bills ...

Lloyd’s of London Silver Medical Plan
International Health Insurance for persons 50 to 85 years of age



IN NASSAU CALL

second three year grant of the ,
same amount to the BNT,:
based on their performance in
meeting the objectives of the
outlined mission. ‘

In May of this year, after a
series of legal challenges, SGCR .
lost a bid in the Court of:
Appeal to have construction on
the resort stopped.

Despite this setback, SGCR-
warns the BNT not to allow:
money to blind them to the dan-’
gers of the development.

“You only have-to look at
the pictures or visit the island.
to see how this mega-develop-'
ment is going to destroy this
beautiful Bahamian treasure.
Please do not be blinded by the’
money Bahamas. Baker’s Bay
has lots of money to throw,
around and they can buy lots of
friends. But with all the money:
they have, they cannot replace.:
a living coral reef. They can-
not replace mangroves and the,

7

’ associated fisheries,” they said.

~

IN FREEPORT CALL

393-5529 350-7827

IN ABACO CALL
ABACO INSURANCE AGENCY

367-5285
THE TRIBUNE

mm. -, US, PAGE 13



@ VENEZUELA
Caracas

A TWIN-ENGINE plane
swoops low across the open
waters south of the Dominican
Republic, and three men in a
fishing boat haul in the airtight

- bales that have just splashed
into the waves, according to
Associated Press.

Suddenly the men spot a US
plane and British helicopters
overhead. Video shot by their
pursuers and seen by The Asso-
ciated Press shows the men
hurling the parcels overboard
and trying to flee, but their
motor dies. The men are picked
up by a Dominican cutter while:
a British navy helicopter recov-
ers a half-ton of cocaine.

Tracked by US surveillance,
the May 12 flight originated in
Venezuela, which US, Euro-
pean and Colombian counter-
narcotics officials say has
become the path of least resis-

tance for smugglers of Colom-_

bian cocaine.

The drug shipments are flow-

ing nearly unhindered from

Colombia into Venezuela, then _

leaving by the ton on ships and
planes making deliveries for the
multibillion-dollar US and
European markets, the officials
say. They say high-level cor-
ruption has also helped make
Venezuela a major haven for
. drug smugglers running from
the law.

The cocaine passing through
Venezuela on President Hugo
Chavez’s watch has risen by as
much as 30 tons a year since

2002, reaching an estimated 300 °

tons in 2006, according to US
Ambassador William Brown-
field. That’s roughly a third of
the world’s supply. °

"Caracas is replacing Bogo-
ta (Colombia’s capital) as a cen-
ter of everything related to drug
operations,” said Mildred.
Camero, who was Venezuela’s
top anti-drug official until she.
reported high-level corruption
and was dismissed in 2005.

Venezuelan airports have
become such sieves that air-
borne smuggling. almost all of
it from Venezuela _ now
accounts for about 30 per cent
of-cacaine and heroin traffic out
of the Andes, compared with
10 percent two years ago, said
US Adm. Jeffrey Hathaway,
dutgoing director of the multi-
national command that coordi-
nates drug interdiction in the
region.

: Of 46 suspected drug flights
detected in the Caribbean by
US surveillance in the first four
months of 2007, all but six orig-
inated in Venezuela.

, “It’s worrisome. It’s historic,”
said Jose Luis Santiago Vas-
concelos, who was Mexico’s top
organized-crime prosecutor last

year when 5.5 tons of cocaine’.

was seized on a DC-9 jet from,
Venezuela. Not since the 1990s
had cocaine come to Mexico in
such big planes. In February,
another ton was seized in Mex-
ico on a flight from Caracas.
Chavez says the steady bar-
rage of US condemnation on
the issue twists the facts “to
demonize our government” and
ignores the fact that trafficking-
- and drug-related corruption in
Venezuela preceded his admin-
istration.

“We’ve landed the strongest
blows against drug trafficking
in all of Venezuelan history,”
he told the AP in a June 9 inter-
View, citing increased seizures
~ including 142 tons of cocaine
seized in the past three years _
and claiming determined efforts
are being made to weed out cor-

ption..

» Most US-bound cocaine still
moves north by sea — often in
synchronized combinations of
speedboats, trawlers and
freighters — via the Caribbean or
eastern Pacific to Mexico and
Central America, then crosses
the U.S. border by land.

' But as Mexico cracks down
on land shipments, and author-

Se oe ee a ae re ee ee

4

;
5
g
a

es ee

CARIBBEAN NEWS

ie Taree OR ee re ee Gl ee ee
Drug warriors call Venezuela path of
least resistance for Colombian cocaine ~



WIN this picture feleased by the US Coast Guard, a, baled of c cocaine seized four days earlier off the
coast of the Dominican Republic are watched over by a US DEA agent, during the transfer
process from a Coast Guard cutter to a DEA vehicle bound for a Federal evidence vault, in San

Juan, Puerto Rico

ities get better at high-seas
interdiction — the helicopters in

the May 12 bust came off a~

British ship in the area -
Venezuela is increasingly pro-
viding an alternative, counter-
drug officials say.

Most Europe-bound cocaine
is believed to pass through
Venezuela; sent.aboard ships

and jets — 727s, DC-8s and Gulf= ~

streams — to west African
nations where enforcement is
often weak and easily bribed,
Hathaway said at the com-
mand’s headquarters in Key
West, Florida.

“The reason it is very hard
for us to stop these flights is that
the aircraft look like, smell like
and act like legitimate com-
mercial flights,” said Hathaway,
a US Coast Guard rear admiral
who retired in May as head of
the Joint Interagency Task
Force-South. “There is either
no capability or no desire for
Venezuela to halt these air-
craft.” ;

-The multinational command
gets its human intelligence from
drug and customs agents on
three continents. Its ships,
planes, spy satellites and over-
the-horizon radar scour 42 mil-
lion square miles of high seas

from the mid-Atlantic to the :

eastern Pacific. Partners cur-
rently include France, Canada,
the Netherlands, Spain and
Britain.

Also participating are all the
drug-producing Andean nations
except Venezuela, which has

not sent a replacement since its

liaison, an air force colonel,
retired early this year.

Like the plane that made the
May drop, drug flights from
Venezuela are almost exclu-

- sively detected through aerial

surveillance, Hathaway said,
and almost always race back
after dropping off their cargo.

In the.12 months leading up
to Sept.-14, 2004, US surveil-
lance tracked 38 suspected drug
flights from Venezuela to the
Caribbean, Mexico and Central
America. The following year,
that number grew to 64, and the
next to 115. In the 6 1/2 months
up to March 31, 2007, there
were already 99 more.

Venezuela’s Anti-Drug
Office -chief;-Col--Nestor
Reverol, says well over 200
National Guard soldiers have
been dismissed in an anti-cor-
ruption purge, some officials
have been jailed and Venezuela
actively cooperates with a range
of countries beginning with
Colombia, where most of the
world’s cocaine is produced.

In September, for example,
Dominican agents acting on a
tip from Venezuelan authori-
ties seized 2.4 tons of cocaine
in a Belgium-bound shipping
container. Last month,
Venezuela seized 2.5 tons of
cocaine as smugglers prepared
to load it onto an Africa-bound
private plane on Margarita
Island. Among those arrested
were six police officials.

“We're taking actions. We
aren’t standing by with our arms

crossed,” Reverol said.
But senior Colombian police

‘and military officials report

scant cooperation from the
Venezuelans on drug interdic-
tion.

And Antonio Mazzitelli of
the UN Office on Drugs and
Crime, who is responsible for
western Africa, said he knew of
no busts or seizures in his region
that stemmed from information
provided by Venezuela.

"The majority of the big
seizures have been because a
plane broke down” or because
of Spanish or French high-seas
interdictions, he said by phone
from Dakar, Senegal.

A Dutch naval intelligence

officer on the Caribbean island
of Curacao, Lt Cmdr. Frank
Hermans, lamented the scarcity
of shared intelligence from

Venezuela, which is about 40 ©

miles away: “We only
encounter targets of interest
coming from Venezuela due to

survéillance.”"~ ~

Drug traffickers have always
developed new routes and
smuggling methods as law

enforcement catches up to the

old ones.

In the early 2000s, they began
using supercharged speedboats
to whisk loads of up to 5 tons of
cocaine out of Colombia and
Ecuador, to waiting ships. But
smugglers increasingly looked
to Venezuela as U.S.-Colom-
bian naval
improved and tools such as

. infrared sensors boosted high-

seas seizures.

Small planes now commonly
dash into Colombia from
Venezuela or Brazil, pick up

‘drugs and vault back into

Venezuela, where they. often
can land at commercial airports
and avoid clandestine airstrips,
said a senior Colombian police
official who spoke on condition
of anonymity because of politi-
cal sensitivities.

Sometimes they do not make
it. Two people were killed and a
half-ton of cocaine recovered
when a Venezuelan-registered
Cessna crashed near the east-
ern town of El Tigre on May
21, authorities said. And on
May 5, a Colombian police dog
sniffed out 1.5 tons behind false

. panels on a Venezuela-bound

truck. |

The US Drug Enforcement
Administration still has about
10 agents in Venezuela, but
their operations have been
restricted since Chavez sus-
pended formal cooperation in

August 2005, accusing the’

DEA of being a front for espi-
onage.

The break with the DEA
came shortly after the dismissal
of Camero, the Venezuelan
anti-drug official, who had
worked closely with the agency.

She told the AP she had sub-
mitted five reports on high-lev-
el drug corruption to the presi-
dent and vice president, finger-
ing police, military and Nation-
al Guard officers, customs
agents and even two state gov-
ernors. She would not name

ah Err ote
wo ae

coordination .

_(AP Photo/ U.S. Coast Guard)

names publicly, saying she fears
revenge.

Camero said she was told
Chavez never saw her reports.

Two senior Colombian police
officials told the AP that sthe
drug bosses who call Venezuela
home include Wilber Varela,
for whom the US government
has offered a US$5 million
reward. They spoke on condi-

eM Deserves Rewards

Introducing the FirstCaribbean Senior Accounts.

tion of anonymity, citing politi-
cal sensitivities.

Reverol responded that he’s
in daily contact with the head of
Colombia’s DAS domestic
security agency, and “‘if they tell
me today where Wilber Varela
is and I catch him, rest assured
he’ll be deported to Colombia
within 24 to 48 hours.”

The US State Department
says Venezuela has failed to
pursue major traffickers and has
arrested only low-level figures.
In September, when Chavez
extradited a man he called a top
Colombian smuggler, Colom-
bian officials said he was a low-
er-level player.

That man, Farid Feris
Dominguez, told Colombian
investigators that several high-
ranking Venezuelan officials
helped him. His lawyer told the
AP that Feris even obtained a
Venezuelan diplomatic pass-
port.

Venezuela’s justice minister,
Pedro Carreno, says authorities
are investigating Feris’ claims
but are wary he may be lying
to please US prosecutors seek-
ing his extradition.

Despite the tensions,
Venezuela continues to work
with the DEA and in March
turned over to U.S. authorities
an American wanted in South

ee he te ni nn |

Dakota for alleged metham-
phetamine trafficking.

But Camero, a former judge
and now a consultant whose
clients include the U.S.
Embassy, said drug trafficking
worsened after the 2005 dis-
mantling of a DEA-trained and
-equipped counter-narcotics
task force.

She said two 2004 seaport
busts are emblematic of
Venezuelan drug corruption: In
one, National Guard troops
were protecting a shipping con-
tainer that yielded 1,300 pounds
of cocaine in duffel bags. In the
other, they tried to keep police
from boarding a boat bearing

1,750 pounds of cocaine.

Chavez says Venezuela has
broken up links between some
military units and traffickers,
taking a hard line in discharging
and prosecuting corrupt offi-
cers.

“No one is protected here,

‘whatever the civil or military

rank,” he said, adding he is well
aware how drug mafias can Cgr-
rode any nation’s institutions.

When Chavez appointed
Reverol in February, he laid out
his orders in a handwritten note:

“War to the death against
corruption, against narco-traf-
ficking."

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PAGE 14, MONDAY, JULY 2, 2007

THE TRIBUNE



CARIBBEAN NEWS



Cuba raises prices for milk and meat
as it faces drop in food production

@ HAVANA

CUBA is repaying debts to
farmers and promising higher
prices for milk and meat in an
attempt to increase flagging
food production in a commu-
nist society that depends on the
state for most of what it eats,
according to Associated Press.

It’s trying to head off a crisis
in its food system: production
dropped seven per cent last
year, imports are becoming
more expensive and consumers
complain their tiny government
salaries don’t allow them to buy
more than a few items a month
at supply-and-demand farmers
markets.

Finance and Prices Minister
Georgina Barreiro said Friday
that the state had paid off 550
million pesos ($23 million) in
débts to the small farmers and
co-operatives that grow two-
thirds of the island’s fruits and
vegetables, and renegotiated
debts worth 863 million pesos
(US$35 million).

“These debts never should
have accumulated,” Barreiro
told a National Assembly ses-
sion headed by acting president

Raul Castro.

Food production is a highly
sensitive issue in Cuba, where
shortages of everything from
meat to potatoes were common
after the collapse of the Soviet
Union and its generous subsi-
dies. Food is more plentiful
today, but Cubans still complain
that most of the vegetables and
fruits sold by private producers
are too expensive.

Cuban officials have been
unusually candid about the
problem in recent weeks, with
vice-president Carlos Lage com-
plaining to municipal leaders
that food “production is insuf-
ficient and commercialisation is
deficient.”

The government in recent
weeks has instituted a new
billing and payment system in
which banks must pay produc-
ers immediately. Lawmaker
Orlando Lugo, president of the
National Association of Small

Farmers, said more than half of

Cuba’s 3,500 co-operatives are
using the new system or are
about to start.

“The producers are in much
better spirits,” he said at Fri-
day’s session.

eft, talks with his iranian counterpart

Meanwhile, the ministries of
agriculture and sugar, along
with provincial and municipal
leaders, have been ordered to
create tracking systems to make
sure payments to the small
farmers and co-operatives don’t
fall behind again.

And parliament on Friday
agreed to pay producers 2 1/2
times more for milk and meat
included in the island’s heavily
subsidised ration program and
in meals provided at similarly
low-cost workplace cafeterias,
schools, hospitals and commu-
nity centers. The prices con-
sumers pay will remain the
same.

The co-operatives and small
farming enterprises were creat-
ed in 1993 when the govern-
ment restructured its centralised
food system, breaking up big
state farms into smaller units
owned and managed by work-
ers. Smaller parcels went to
individual farmers.

Less than 15 years later, more
than. 150,000 individual farmers
and agriculture co-operatives
now, produce two-thirds of the
country’s food using just a third
of the island’s workable land.



fahmoud

Ahmadinejad during during their meeting, in Tehran, Iran yesterday. An unidentified translator

sits at centre.

NT EY) ee ete
tM i heey Le de

Keep the package and
receipt, call 380-8000 and

enter to win one of 27 gift packs
Tate Roi moa La) aC Cu ElCle

(AP Photo/Vahid Salemi)



i CUBANS buy onions and plantains at the government-organized produce fair in Havana

" yesterday

State farms work the rest.
After meeting state quotas,
the farmers can sell the rest of
their goods at farmers markets.
Cuba has more than 300-mar-

kets, including about 50 in
Havana.

But Cuba is a long way from
becoming self-sustaining. The
country spends US$1.6 billion

“

(AP Photo/ Javier Galeano)

a year importing food, about a
third of it from the US. Even
82 per cent of the food sold at
subsidised prices on the ration
system is imported.

Iran says Venezuelan president's
visit will strengthen their ties

@ IRAN
Tehran

IRAN’S foreign ministry
spokesman said Sunday that
Venezuelan President Hugo
Chavez’s visit to the country
would further strengthen rela-
tions between the two nations.

Under pressure from the US,
Iran and Venezuela have
improved their bilateral ties,
and Chavez has defended Iran’s
nuclear development, dismiss-
ing US concerns that Tehran is
covertly developing weapons.

“Political interests and close
regional and international

ot aK Supercenter, City Market & Kelly’s.

stances are among the impor-
tant factors that help to contin-
ue this cooperation, closely,”
spokesman Mohammad Ali
Hosseini Hosseini told reporters
Sunday during his weekly press
conference.

Chavez arrived in Iran on
Saturday as part of a three-
nation tour after stops in Russia
and Belarus, and is scheduled
to meet with Iranian leaders,
including President Mahmoud
Ahmadinejad. His visit is the
third to Iran in the past two
years and the sixth since he
came to power.

Hosseini said Iran and

Venezuela would sign some 20
memorandums of understand-
ing in different fields during
Chavez’s visit, although he did
not provide further details.

Iran’s state-run television said
the two countries would sign
agreements on the construction
of a 7,000-unit housing project
and an artisan school; both, in
Venezuela.

Iran has partnered with
Venezuela on several joint
industrial projects. in the South
American nation, including the
production of cars, tractors and
plastic goods, the television
added.

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business@tribunemedianer Miami Herald Business, Stocks, Analysis, Wall Street



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USINESS







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ColinaImperial.

Confidence For Life





Companies engaged in
‘inter-island pillaging’

* Chamber president warns competition for best Bahamian staff leaving firms unable to meet needs of anchor projects
* ‘Huge voids’ being created in small and mid-sized firm structures, with nothing
done to address unemployed and ‘unemployable’ issues
* Staff losses making companies reluctant to make training investments

@ By NEIL. HARTNELL
Tribune Business Editor

usinesses are engaged
in “inter-island pillag-
ing” of each other for
the best employees, the
Grand Bahama Cham-

ber of Commerce’s president has
warned, with multi-million dollar
investment projects increasingly leav-
ing “huge voids” in mid-sized and
small Bahamian firms’ staff by attract-
ing away their most qualified workers.

Christopher Lowe, a senior execu-

(Freeport), said the number of resort
projects coming on stream was con-
tinuing to increase competition for
the scarce pool of well-trained, qual-
ified Bahamian workers, putting pres-
sure on salary and benefit levels.
While increased foreign direct
investment and resort developments

appeared beneficial on the surface,
Mr Lowe pointed out that they did
nothing to reduce unemployment or
tackle the growing number of
Bahamians deemed “unemployable”.
This was because these develop-
ments were targeting - and hiring -
the best Bahamian staff from exist-

ing businesses, leaving these firms
-with the problem of finding and train-
ing replacement.

Given the scarcity of qualified
workers, Mr Lowe said the labour

SEE page 7

tive with wholesaler Kelly’s

$26m tourist marketing Former John S$ George head eyes Exuma acquisition
budget ‘not enough’

@ By NEIL HARTNELL
Tribune Business Editor

THE Government has been
urged by a former minister of
tourism to increase the $26 mil-
lion annual marketing budget
allocated to the industry, argu-
ing that the Bahamas will oth-
erwise lost its competitiveness

and that all other islands and -

properties will become over-
shadowed by the Atlantis
brand. —

Obie Wilchcombe, speaking

SEE page 8



_| Ml WILCHCOMBE

My
id
{i

‘

Emerald Bay to cause
‘negative ramifications’
for foreign investment

@ By NEIL HARTNELL
Tribune Business Editor

THE Four Seasons Emerald
Bay resort’s descent into
receivership is likely to have
“negative ramifications” for
foreign direct investment in the
Bahamas and its hotel industry,
analysts have told The Tribune,
and cause developers to
reassess their development
models for Family Island

resorts.

Simon Townend, the
Bahamas-based partner and
regional director of KPMG’s
corporate finance arm, said
potential investors and
financiers of Bahamas-based
resort developments, especial-
ly those in the Family Islands,
were now likely to do careful

SEE page 9

Bahamas investor
given prison time

@ By NEIL HARTNELL

Tribune Business Editor

@ By NEIL HARTNELL
Tribune Business Editor

FORMER John S George chief execu-
tive Ken Hutton is already looking around
for new acquisitions just after the private
equity group he formed sold the Bahami-
an retailer, sources have told The Tribune,
his latest target being a standalone Exuma-
based grocery store.

Multiple sources told this newspaper

that Mr-Hutton was currently trying to’.

put the financing in place to acquire Exu-
ma Markets, one of that island’s major

qu

alth Insurance

THE DAVIS FAMILY

Exuma

supermarket/grocery stores, based on the
Queen’s Highway in Georgetown.
Exuma Markets, in addition to capturing
most of the foods/groceries business from
the island’s residents, is also said to do a
thriving trade with the boaters who anchor
off George Town throughout the year. |
The store had relatively little direct com-
petition on Exuma until last year, when
the Emerald Isles Supermarket, owned
by the Bowe family, opened in the Emer-

ald Bay Shopping Centre near the resort.:
Exuma Markets is understood to be |

owned and operated by the Minns family,

“Abaco

*Freeport °

Mortgage Lending | Retirement Planning

Mike Minns and his wife, Sandy, and God-
frey Minns.

One source said: “They were trying to
sell it [Exuma Markets].” It is understood
that the family have been unsuccessful in
attracting a management team to Exuma
to try and run the store for them.

Mr Hutton told The Tribune: “No com-
ment”, when contacted by this newspa-
per about the potential deal.

The former Freeport Concrete chief

SEE page 8 |

Cayman



One family with many needs. For |
a solid financial foundation and

customized advice, their choice is
Colinalmperial.

AN INVESTOR in a proposed Bahamas-based resort pro-
ject has been sentenced to five years in prison in the US for
corruption relating to how he used his postion as Palm Beach
County Commissioner to enrich himself via a series of land
deals.

Anthony Masilotti pled guilty to using his post to enrich him-
self and his family, advocating and voting on land deals without
disclosing his secret interest and potential gains from the trans-
actions to the Broward County Commission and the public.

He “netted millions of dollars”
from the transactions, and was
ordered to forfeit two real estate

242.356.8300

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PAGE 2B, MONDAY, JULY 2, 2007

UT) Sts)

THE TRIBUNE





Sprucing up your firm’s

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ing a quality web-
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but getting it wrong will
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The first step is to Decide if
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answer has to be ‘Yes’. As
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you project will be important.

their name and e-mail. A
good way of doing this is by
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The fifth step is to Decide
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Your website will require
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Delegate this if you have not
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stale.

The sixth step is to Decide
on the Design. Find sites that
you like, which are easy to
use and simple, with clear
design, and copy them.
Design and presentation is a
movable feast, so keep your
eyes open to what is new in
the industry, and what works.
Frames and flash are a bit old
hat, so use them sparingly.

The seventh step is to
Write your Content. Either
write it yourself or subcon-
tract the content for your
pages, affiliate programmes,
auto responders, newsletters
and e-mails.

Once you are clear as-to------

your purpose, your audience
and what you are going to do
with your visitors, here are
tips to make your website
best of breed:

Tip 1: Make your website
sticky and interesting, fun to
use and engage the visitor to
remain on your site and come
back often by either giving
away your knowledge
through eBooks and regular -
newsletters, or getting your
visitor to.do things on your
site, such as enter competi-
tions or vote.

Tip 2: Keep it up to date
and keep content fresh. Try
to do this on a weekly basis,
so that each time your view-
ers come they will find some
new information, articles or
posts. If your content changes
frequently, think of imple-
menting a ‘What’s New’ sec-
tion.

Tip 3: Make it quick,
because even with broadband
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ous for their impatience and
will move quickly to another
site if yours takes ages to
load. Make sure you keep
images small, use a sequence

For the stories
behind the news,

read Insight
on Mondays





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

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

Share your news

of smaller images rather than
one big one, and avoid
overblown flash introduc-
tions as these are definitely
old hat.

Tip 4: Make it bug free.
Just like the real world,
things will go wrong with
your website. Test it, test it
and test it. Be proactive in
restoring missing links that
go to a wrong page, or result

’ in an error message, and

make sure you correct typos,
poor grammar and sloppy
sentence construction. These
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ers and give your website an
unprofessional look.

Tip 5: Make it easy to navi-
gate, as nothing will turn off
your visitors more than a dif-
ficult site to navigate. They.
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want in three clicks.

Make sure you create tabs
on each page for Home Page,
Privacy Policy, Terms and
Conditions, Product Info,
Buy Now, Free Trial, FAQs,
Help, Special Offers, What’s
New etc. Make sure you pro-
vide a Site Map so that your
visitor is appraised of all your
pages.

Avoid closely packed text
that is hard to read. Avoid
-having-pages that you need to
scroll down, which are too
long to read on your screen
unless you are preparing a
one-page sales letter type
web page. And finally, use
‘Coming Soon’ instead of.
‘Under Construction’ for in
progress content.

Tip 6: Make it easy to
order by providing clear
information on the benefits
and features of your product,
and by using ‘More Info’ and
‘Buy Now’ buttons. Try offer-
ing a free trial of your prod-
uct if possible. Allow shop-
pers to order from your web-
site, and also give them the
opportunity to order by
phone or fax, so make your
contact details easily avail-
able to them. :

Creating your website will
take much thought. Don’t be
an antipreneur and ignore
the steps and tips to make
your website something you
will be proud of. Make sure
that you spend sufficient time
on this area, as it will pay
large dividends for your
future business success.

NB: This column is avail-
able as an eBook at
www.antipreneurship.com

Mark draws on 20 years of
top level business, marketing
and communications experi-
ence in London and the
Bahamas. He is chief operat-
ing officer of www.ezpze-
mail.com, currently lives in
Nassau, and can be contacted
at markalexpalmer@mac.com

© Mark Palmer. All rights
reserved














BUSINESS

Ghe Hiami Herald rf q MONDAY, JULY 2, 2007

WALL STREET

3B

INTERNATIONAL EDITION

Investors hesitate to back private equity deals

BY JOE BEL BRUNO
Associated Press

NEW YORK — Buyout king
Henry Kravis calls it “the golden age”
of private equity, a period where
opportunistic Wall Street bankers
snagged iconic names like Toys R Us,
Chrysler and Neiman Marcus in mul-
tibillion dollar deals.

Leveraged buyouts are on track to
surpass $1 trillion this year, a reflec-
tion of private equity’s growing influ-
ence on the world’s business culture.
Private equity has helped make very
rich men out of dealmakers like
Kravis and Blackstone Group’s. Ste-
phen Schwarzman, who earlier this
year threw himself a $3 million birth-
day bash with Rod Stewart as the
entertainment.

There are growing signs that the
buyout party might be ending. After
nearly two years of record acquisi-
tions, private equity is facing chal-
lenges at almost every turn — from
lawmakers questioning tax structures
to investors reluctant to buy into

bloated financing plans.

“For years, private equity has had
a walk in the park,” said billionaire
financier Carl Icahn, a takeover spe-
cialist known for his runs at RJR
Nabisco and TWA. “It’s peaked. But,
I don’t mean these guys won’t make
money.”

Icahn, speaking at a conference in
New York recenlty, said private-eq-
uity firms have enjoyed easy access
to financing, and struggling compa-
nies actively hunted for buyers. Pri-
vate equity shops acquire companies,
ostensibly to turn them around as
private entities and then cash in by
selling or bringing them public.

At first glance, the industry still
seems to be doing well. General
Motors a few days ago agreed to sell
its transmission unit to private equity
firm Carlyle Group and Canadian
investment firm Onex.

But the market has resisted a
string of recent debt offerings, in part
because fallout from subprime mort-
gage defaults has caused some inves-

tors to chase safer bets. An estimated
$3 billion of debt sales were pulled
this week, according to Thomson
Financial.

On Friday, Blackstone and Lion
Capital were said to be having prob-
lems unloading $259 million of loans

_to acquire soft-drink maker Oran-
gina. Dutch supermarket group Royal
Ahold had difficulties selling $650
million of bonds as part of the sale of
its U.S. Food Service unit to a group
of buyout firms led by Kohlberg
Kravis Roberts.

Meanwhile, reluctance about
credit and debt spilled into the U.S.
junk bond market. Canada’s Catalyst
Paper abandoned a $200 million
high-yield bond offering because of a
more skeptical market.

Goldman Sachs Chief Executive
Lloyd Blankfein said at an investor
conference that the investment bank
“remains at a high state of nervous-
ness.” The biggest anxiety is that the
debt markets will tumble, causing
borrowing costs to grow.

“The biggest risk we face is a cri-
sis in the credit markets,” he said.
“When you think of the wealth cre-
ated over the past five years in differ-
ent sectors, much of it was driven or
helped by the low level of interest
rates and the tightness of credit
spreads.”

Investor uncertainty about bor-
rowing costs, considering supreme
difficulties, has led to tremors on
Wall Street. Bear Sterns has been the
most high-profile casualty after it
was forced to rescue one of it’s hedge
funds that lost value because of
wrong bets on the mortgage market.

Private-equity firms might be a lit-
tle worried about their ability to raise
money in the equity markets after
Blackstone’s recent initial public
offering. The New York-based firm
raised $4.1 billion after floating its
management partnership.

Though shares surged 13 percent ~

on its first day of trading, it has since
dropped to below the $31 offering
price.

The deal was thought to be a blue-
print for how others could raise more
capital. ;

Investors originally seemed eager
to get in on the Blackstone deal, even
though they’d have little voting rights
and no direct connection to the
firm’s portfolio of companies and
real estate holdings.

Carlyle on Thursday cut the size
of a planned IPO of a fund that
invests in mortgage-backed bonds
because there was lack of interest —
trimming the offering by 25 percent
to $300 million.

Even if firms like KKR or Carlyle
decide to pursue a U.S. listing, there
is still the subject of how they would
be taxed. Lawmakers are trying to tax
buyout firms as companies instead of
partnerships — a step that could dou-
ble the amount they pay the govern-
ment.

But industry insiders believe —
even if Blackstone fell flat — private-
equity firms will need to go public to
survive long term.





i
j
j



POWER SHORTAGE:
“Argentina has
cut natural gas

exports to keep
more at home.

President Néstor

Kirchner has
periodically
employed this
strategy since
2004, when he
angered Chile by
violating an
export contract.
A man, left,
overlooks
electric towers in
the Atacama
desert of Chile in
2004.

CARLOS BARRIA/REUTERS FILE

Frustration grows in

BY MONTE REEL
Washington Post Service

BUENOS AIRES — At the height of rush hour,
Luis Ibanez parked his taxi in the middle of the
busiest intersection of this city, got out of the car
and stood cross-armed in the street as traffic
jammed around him.

Dozens of other cabdrivers joined him, pro-
testing a national shortage of compressed natural
gas — the primary fuel for the vast majority of
taxis here. As winter approached in the Southern
Hemisphere, the Argentine government cut nat-
ural gas supplies to service stations and indus-
trial users in mid June. It was a temporary mea-
sure to ensure that there would be sufficient fuel
available to heat Argentine homes later that
month.

Falling temperatures have exposed weak
points in an Argentine economy that boasts 9
percent annual growth, lowered unemployment
and rising salaries. In addition to the-shortage of
natural gas, Argentina recently has faced short-
ages of some agricultural goods, including milk
and other dairy products. Now, many econo-
mists — and a growing number of people in the
streets — are questioning the inflation-control
policies of President Néstor Kirchner.

“How can a government not be prepared for
the cold?” asked Ibanez, while city buses and
commuter vehicles idled around him. “They
never prepare for anything, they don’t invest in
the country, and the people need to know that
there are consequences.”

With a presidential election set for October,
tensions between market forces and the political
pressure to keep consumer prices low have
become impossible to miss — even without the
spotlight of rush-hour protests.

“It’s hard to find milk on the shelves now, and
that affects everyone,” Maria Laura Gonzales, 30,
said after shopping at a Buenos Aires market last
month.

Gonzales blames dairy companies for the milk
shortage. Government officials blame a recent

ECONOMY

A /

ei

eX
| PR sof






- drought. But dairy producers and many econo-

mists say government-imposed price caps have
compounded the problem by sapping corporate
incentive to invest in production.

Such price controls are also taking much of
the blame for the recent energy problems. Twice
in June, more than 700 service stations around
Buenos Aires were ordered to stop pumping
compressed gas. Analysts say the cuts were a
result of pricing controls instituted in 2002 that
have encouraged consumption and discouraged



NATACHA PISARENKO/AP FILE

EMPTY TANK: A taxi driver who ran out of
fuel pushes his car while he waits in line
at a compressed natural gas station in
Buenos Aires. In addition to a national
gas shortage, Argentina has recently
faced shortages of agricultural products,
such as milk.



Argentina

industry investment'in infrastructure improve-
ments needed to boost production.

Periodic energy shortages are common in
many countries at peak times of the year, but
Argentina’s came at the year’s first cold spell,
before winter officially began. The country has
already cut natural gas exports to keep more gas
at home — a strategy that Kirchner has periodi-
cally employed since 2004, when he angered
neighboring Chile by violating a contract prom-
ising exports. Even so, production continues to
lag behind demand.

Some economists warn that the valuable eco-
nomic gains the Kirchner government has
achieved in recent years could erode signifi-
cantly if industries continue to endure costly
power cuts.

“In the energy sector — because investments
take so long to be completed — long-term plan-
ning is needed,” said Sophie Aldebert, a South
American analyst for Cambridge Energy
Research Associates in Rio de Janeiro. “But in
Argentina there is no long-term plan for energy,
and they don’t have the regulatory stability to
attract the investment that’s needed.”

Though it is less than four months away, the
Argentine presidential election has not begun in
earnest yet. Kirchner has not announced
whether he will be his party’s candidate or
whether his wife, Cristina Fernandez, will take
his place on the ticket. Early polls have suggested
that either would defeat the main opposition
challenger, former economy minister Roberto
Lavagna, though the president would prevail by a
wider margin than the first lady would.

“Time plays in President Kirchner’s favor,”
said Federico Thomsen, a political and economic
analyst in Buenos Aires. “The shortages have
become more noticeable to the layperson now,
but so far no opposition candidate has been able
to capitalize on that. So for it to really have an
effect on Kirchner or his wife, something
extreme would have to happen between now and
then.”



WORKPLACE

failure into
By JOANN S. LUBLIN
The Wall Street Journal

Nobody likes working on a project
headed for failure. But almost every-
one lands some such dreaded tasks.

A whopping 78 percent’of 589 pros

oie ofessionals«and«managers ‘surveyed
| say, they’re now involved) in ‘at least
“one project they expect will fail to’)

produce its advertised results, con-
cludes a recent survey by VitalS-
marts, a corporate-training firm in
Provo, Utah. Another surprise find-
ing: 61 percent say they knew an
unsuccessful prior project would flop
before its launch or soon after.

“When you're assigned to a pro-
ject that seems bound to bomb, you
are playing a high-stakes game,”
warns Linda Dominguez, an execu-
tive coach in Coarsegold, Calif.

Yet, you can minimize the career
damage and maximize the benefits
from accepting a doomed gig. “Get-
ting involved in a high-risk, high-fail-
ure situation is a way to make a name
for yourself,” says Laurence J. Stybel,
co-founder of Stybel Peabody Lin-
colnshire, a Boston leadership con-
sultancy.

For starters, ask trusted associate
whether you landed the assignment
for punitive or positive reasons.
Senior officials may “want to push
you out,” Dominguez observes. Or,
she adds, they may “think you’re the
one who can make it work.”

It would help to give higher-ups a
well-documented explanation for
why you believe your project won’t
succeed — along with a persuasive
substitute strategy. More than 80 per-
cent of individuals polled by VitalS-
marts said a flop might have been sal-
vaged, except the key decision maker
was difficult to approach. |

“Make sure you are crystal clear
with your boss about your conclu-
sions” without exaggerating the
impact of failure, recommends
Joseph. Grenny, co-chairman of
VitalSmarts. At the same time, “dis-
cuss the alternatives with other team

- members to get their feedback,

buy-in and ideas” before presenting
them to your superiors, suggests Ste-
fanie Smith, a New York manage-
ment consultant and executive coach.

Your alternate scenario should
make the top brass look better. A
senior project manager at a grocery
chain joined an effort to automate its
store-shelf tagging system. The pro-
ject, bogged down after 18 months of
planning, seemed doomed.

The new manager faced an impos-
sible deadline: Roll out the new sys-
tem at the chain’s 120 stores within
six months.

She identified 45 stores that had

the most to gain from improved tag-
ging and installed the system there
six months later. “That saved face for
the retail division vice president
overseeing the project,” she explains.
He didn’t object when the full rollout
took a year.

The electronic tags saved about
$500,000 in staff costs.

But, even if you can’t rescue a
flawed project, it could raise your
visibility and credentials.

Bs





__INTERNATIONALEDITION MONDAY, JULY 2, 2007 #B

THE MIAMI HERALD | MiamiHerald.com



SMALL BUSINESS

It’s time for a midyear checkup, planning

BY JOYCE M. ROSENBERG
Associated Press

Small-business owners who
are lucky enough to have some
down time in the next few
weeks should use it for a mid-
year financial checkup and to
tick some other chores off
their to-do list.

Accountants and tax pro-
fessionals say the summer is a
good time to take stock of a
company and see whether it’s
meeting its goals and whether
there’s enough cash on hand
for tax payments.

It’s also time to make deci-
sions about equipment pur-
chases and other capital
spending for the second half of
the year.

“You want to assess; are
you making money or are you
losing money?” said Barbara
Weltman, a tax attorney in
Millwood, N.Y., and author of
J.K. Lasser’s Small Business
Taxes.

EARLY WARNING HELPS

This may sound overly sim-
plistic, but tax professionals
say many owners really don’t

know where their companies
stand, and those who are los-
ing money need to find that
out fast and start making
changes. Companies that are
doing well should probably
start thinking about their
options — for example, should
the owner or owners with-
draw money or leave it with
the business to fund its future
growth? :

There are also tax reasons
for a midyear checkup. Noting
that sole proprietors have two
estimated tax payments to go
for 2007, due Sept. 15 and Jan.
15, Weltman said, “You don’t
want to be overpaying or
underpaying.”

TAX CONCERNS

Stephen Fishman, an attor-
ney and author of Deduct It!
Lower Your Small Business
Taxes, reminded company
owners “if you don’t pay
enough estimated tax, you’ll
have a big tax bill next April. A
lot of self-employed people
forget about that.”

But a midyear look at the
business by necessity needs to

‘This is a great time of the year to schedule an
appointment with an accountant, during the
summer months, when it’s slow. It’s a good
time to speak with all your advisors, insurance

agents and lawyers.’

- BARBARA WELTMAN,

a tax attorney and author of J.K. Lasser’s Small Business Taxes

go beyond profits and tax pay-
ments; those numbers will in
the end depend on what your
company hopes to achieve in
the months ahead. Weltman
said of business owners, “you
should be doing strategic plan-
ning, long-range thinking

- about things, redoing your

business and marketing plan-
ning.”

That long-term planning
should include a look at your
capital spending, particularly
whether you'll want to buy
new equipment. Small busi-
nesses have a unique opportu-
nity to save on their income
taxes when they buy certain

equipment — such as comput-"

ers, vehicles, manufacturing

machines or office furniture —
and claim the expenses under
what’s known as the Section
179 deduction. This provision
of the Internal Revenue Code
allows a small business to
deduct upfront $125,000 in
equipment bought and put
into service during 2007 rather
than depreciate it over a
period of years.

But just because a big tax
deduction is available doesn’t
mean a business should plunge
headlong into a purchase. An
owner needs to ask not only if
it makes sense to buy the
equipment, but also if it makes
sense to buy it in 2007. If it
looks like 2008 is going to be a
more profitable year, it might

be better to defer the purchase
until January.

You might find it’s best to
make such decisions with the
aid of an accountant or other
financial advisor.

Weltman noted, “This is a
great time of the year to
schedule an appointment with
an accountant, during the
summer months, when it’s
slow. It’s a good time to speak
with all your advisors, insur-
ance agents and lawyers.”

Many accountants will call
or e-mail their clients at this
time of the year to remind
them that it’s time for a
checkup.

GET A RETIREMENT PLAN

A visit with a financial advi-
sor will almost certainly
include a discussion of retire-
ment plans.

Both Fishman and Weltman
said many small business own-
ers keep putting off setting up
or contributing to plans such
as Simplified Employee Pen-
sions (SEPs).

If youre thinking of setting
up a retirement plan, an



ELECTRONIC CARTOGRAPHY

URBAN
NAVIGATORS

BY BRIDGET CAREY 5 fe
LE VENEERS NAVTEQ is SO large it’s Bacay aie
Next time you get high-tech Microsoft of navigation data, and it’s still

driving directions , you can
thank Debra Bonde and Brad

growing. Its second-quarter revenue was up

Estrada for not getting lost. = 3() percent to $159.9 million, and profit nearly
They are geographic ana-
lysts with NAVTEQ, the com-

pany that provides mapping.

data to just about every major
driving direction company. °
More than 100 companies
and government agencies use
NAVTEQ, including MapQu-
est, Google, Yahoo!, Garmin,
Tom Tom, Magellan, Motor-
ola and Verizon. Chances are
if you’ve ever needed a map
online, in the car, or on your

doubled, to $30.2 million.

the nonprofit Geospacial
Information’ & Technology
Association.

“Every kid knows what GPS
is and definitely every kid
knowns what Google Earth is,
it’s a pretty fun thing to do,”
Samborski said. “Very few
people outside the geospacial

Within a few years, he said, ‘
_maps will be updated in real

time with more and more
detail. 1

“Pick a house in San Diego
and watch the mail being
delivered,” he said.

Some are already updating
traffic conditions in real time,



important reason to start talk-
ing now with a financial pro-
fessional is that you have until
Oct. 1 to create what’s known
as a SIMPLE plan, or Savings
Incentive Match Plans for
Employees. They are more
complex than SEPs, but they
might be more appropriate for
your company.

“Don’t wait until the last
minute,” Fishman advised,
reminding owners that “you
don’t have to pay tax on the ,
interest you make all year.”

Another financial house-
keeping chore that owners
should consider during the
summer is switching to
accounting software if they’ve
been keeping their records on
paper, or changing accounting
programs if they’re not happy
with the applications they’re ° -
currently using. a

It also might be a good time;
to get some renovations or ©
other work done to your office «'
or physical plant, especially if
you'll have staffers who are on 1!
vacation and less likely to be '
inconvenienced or irritated by*/
construction work. ve

,

—

cellphone, you’ve used NAV- industry would know that it is - such as.Microsoft and Google. q
TEQ’s data. part of an industry.” MapQuest, which uses a com-
The company is so large it’s bination of data from NAV- }
RAISE AWARENESS

practically the Microsoft of
navigation data, and it’s still
growing. Its second-quarter
revenue was up 30 percent to
$159.9 million, and profit
nearly doubled, to $30.2 mil-
lion.

Bonde and Estrada recently
finished reviewing the
addresses around the homes
on the Venetian Islands in
Florida, but their work to
update and review the streets
never ends.

Estrada drives and Bonde
sits in the passenger seat
recording information on a
touch-screen pad on her lap.
The laptop along with the
other equipment is locked up
in the back of the SUV while
the screen shows where they
are on the road and where
they’ve been. Using a stylus,
Bonde scribbles on the map of
things to change, such as a
street sign with a slightly dif-
ferent name, and if a road
curves and changes directions.
She’ll also mark the numbered
addresses of every corner.

Her screen is full of icons
that note different road traits,
such as how many lanes a road
has and which direction it
travels.

NAVIGATION

Aside from avoiding the
occasional dump truck or tren-
cher blocking the road, navi-
gating around the homes and

The organization has
started a government-funded
project to raise more aware-
ness of this field, called GIWIS
(Geospacial Industry Work-
force Information System).

“The jobs in this field are
lacking people, and there’s a
huge concern,” he said. “Our
employers can not find
enough people to do this
stuff.”

Bonde has been working
with NAVTEQ for 12 years
and although it might be hard
to believe, there was a time
when this work had to be done
without GPS. .

“I’ve seen the technology
come from paper plots and
just following along on the
paper plots from link to link
writing down information
without any of the tools that
we have,” Bonde said.

Before laptops and satellite
images, geographic analysts
had to rely on what they called
cartooning in geometry based
on photos taken from above.

“T actually have a degree in
cartography from Wisconsin
and when I graduated there
wasn’t even a computer-gen-
erated cartography course,”
Bonde said.

The industry is so fresh that
last year there was no defini-
tion of “the geospacial indus-
try.” Is Google Earth part of
the industry? Some would say

making notes about signs went yes, some wouldn’t. And with-
pretty smoothly for the duo. out definition, organizations
What makes their job difficult like GITA are just begining to

are gated communities.

“Collier County is particu-
larly difficult in getting into
gated communities without
permission,” Bonde said.

But as driving direction ser-
vices become more common,
Bonde said most places are
more willing to give them
access to update the data for
the neighborhood. j

And when they can’t get in,
there are other ways to
update, such as using aerial
photography.

Jobs like theirs are in high
demand now as the industry is
growing fast, said Bob Sam-
borski, executive director of

find ways to measure itself.

“It’s evolved so quickly and
so massively, everyone was
just trying to keep up with the
technology,” Samborski said.

And because the technol-
ogy is advancing so fast, there
is growing potential for mis-
use, Samborski said. The
recent unveiling of Google
Maps’ Street View shows
images of people on the street,
some in unfavorable poses,
which brought up discussions
of privacy rights.

“Our court system and our
laws are not keeping pace with
the evolution of the technol-
ogy,” Samborski said.

TEQ and it’s competitor Tele
Atlas, is working on adding a
feature that will show traffic
accidents and give route sug-
gestions on how to avoid acci-

dents, spokeswoman Dori Sal-

cido said.

As of now, most of the
attention is on expanding in
cellphone navigating services
and doing more than just get-
ting from point A to point B,
but rather showing where the
closest shoe store is between
point A and B.

But the potential of how
fast the industry grows is only
limited by a programmer’s
imagination, Samborski said.
“You could literally save the
world with this stuff.”



input device).

Ay reenET eT ma tt
Poe p Cadena O08

and other services.

ee a

a
“6 & &
a

maageey PRL

9 20

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IN FOCUS: Debra Bonde adjusts a windshield-mounted video camera to gather video *
and navigation data for Navteq’s map database, which is used by MapQuest, OnStar . .

pes

&
GAATES 5

Waser & OOPS



PHOTOS BY JOHN VANBEEKUM/MIAMI HERALD STAFF
MAP MAKING: A dash-mounted screen shows a Navteq map database with handwritten notations (from a tablet



ee ae



SE SD

ST a a

3ST Ss es eT OY ww



=«

&
THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 5B





Miami-Dade chie
Bahamas can be
more than No.18

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

he Bahamas was
the 18th leading
trading partner for

the City of Miami in ©

2006 despite its relatively small
population size, a government
minister said, with trade
between the two totalling $1.2
billion in 2005.

Welcoming a delegation
from the Jay Malina Interna-
tional Trade Consortium of
Miami Dade County, which
was visiting Nassau to discuss
the expansion of trade oppor-
tunities between the Bahamas
and Florida, Branville McCart-
ney minister of state for
tourism and aviation, said the
potential for trade between the
two was limitless.

Mr McCartney said: “In
2005, just two years ago, the
Bahamas’ total trade with Mia-
mi was $1.2 billion. This is an
amazing figure, given the scale
of the Bahamian economy.

“Furthermore, more than
half of our country’s trade with
the United States moved
through the Miami Customs
district, and it is significant that
the islands of the Bahamas,
with only 300,000 residents,
registered in 2006 as the 18th
leading trade partner of Mia-
mi.’

Mr McCartney said tourism
was one industry that could
mutually benefit the Bahamas
and Florida.

“There are opportunities to
work toward offering dual des-
tination vacations, in which
travellers can experience the
vibrancy of Miami- Dade and
the tranquility of a Bahamian
Out Island experience in one
package,” he added.

Mr McCartney said there
had been some progress made
in film industry collaboration
for multi-location films.. The
Bahamas Film Commission,
which is a unit within the
Banb2.nas Ministry of Tourism,
has been in talks with the Flori-
da Film commissioners in this
regard.

“Grand Bahama has the
only ocean water film tank in
the Caribbean, and Florida
allows for the filming of ocean
scenes in a controlled environ-




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Nation is Florida’s ninth largest trading
partner, with $1.2bn passing between
here and Miami in 2005

ment,” he added.

Zhivargo Laing, minister of
state for finance, told the US
companies that if the hopes
and dreams of Bahamians
were to-be realisied, it rests
squarely on the Government
to ensure they sustain, engage
and expand commercial oppor-
tunities for Bahamian and
internationally-owned busi-
nesses in this nation.

“We never take our rela-
tionship with you lightly. It is
our fullest intent to maintain
the freeest enterprise in this
country and provide expand-
ed. opportunities for Bahami-
ans to access whatever busi-
ness opportunities exist in
Florida and the United States,
and elsewhere in the world,”
Mr Laing said. “We want to
facilitate those economic inter-
ests outside the Bahamas, and
seize economic opportunities.”

Dionsio D’ Aguilar, the new-
ly-elected president of the
Bahamas Chamber of Com-
merce, welcomed the Jay Mali-
na delegation on behalf of the
business community, and
encouraged them to explore as

many opportunities as possi-””

ble.

“We are delighted that you
have undertaken to organise
this business-to-business trade
mission to our country,” Mr
D’ Aguilar said. “We are Flori-
da’s ninth largest trading part-
ner. When considering
whether there is business to be
done here in the Bahamas,
please do ndt dismiss us as too
small. Because if you do, you
have forgotten to include the
4.6 million tourists, mostly
American, which visit our
beautiful country each year.”

David Elmo, charge d’af-
faires at the US Embassy, said
this trade mission was symbol-
ic of the strong relationship
enjoyed by the i communi-
ties.

“So much of the discussions
will revolve around business
to business, but I encourage












LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT .
(No.45 of 2000)

INSIGNIA, INC.

Notice is hereby given in accordance with Section 138 (8) of
the International Business Companies Act, (No.45 of 2000),
the Dissolution of INSIGNIA, INC. 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 the 14th day of June, 2007.

Si
A, Wright
iquidator



you to get personal. These ties
bind us and we have a lot to
learn from each other,” he
added.

Trading

Dennis Moss, the Miami
Dade County Commissioner,
said the Bahamas may be
Miami’s 18th largest trading
partner, and that while that
was good, it was not enough.

“We have to do better, and
when I say that, I mean that
we in Miami-Dade county
have to recommit ourselves to
make sure that we’re creating
trade and business opportuni-
ties for you here in the
Bahamas as well as Miami
Dade,” Mr Moss said.

He added that his office will



be working with the Royal
Bahamas Defence Force on a
possible venture, and with
Florida universities to provide
educational opportunities.

Mr Moss announced that
because of the Trade Mission,
they were able to provide a
scholarship to a Bahamian stu-
dent handled through the
international Trade Centre.

On Friday, the delegation,
engaged in one-on-one meet-
ings with Bahamian businesses.
Other activities included cour-
tesy calls on Prime Minister
Hubert Ingraham and the
Governor-General, a tour of
the College of the Bahamas
and the Bahamas Technical
and Vocational Institute
(BTVI), and a dinner at
Arawak Cay.

Dicoiee |







| Leandra Esfakis



Attomey
Harvey Tynes




Dr. Thaddeus
McDonald




Join Cititrust
(Bahamas) Limited,
one of the most
established trust
organizations in the
world.

We invite outstanding
individuals, wanting to build a
career in financial management,
to be part of our dynamic global
team. You will interact with



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Temple Christian High

“Teach Me, O Lord, Thy Way"...Psalm 119:33

VACANCIES

Invites applications from experienced qualified Christian
candidates for the following position for the 2007-2008
‘school year.

School

Dean of Students

Applicants must: ie

A. _¢ Be a practicing born-again Christian who is willing to

subscribe to the Statement of Faith of Temple Christian
School.

¢ Have a Bachelor’s Degree in Education or higher from
a recognized College or University.

¢ Possess excellent organizational, inter-personal
communicative skills.

¢ Be able to assist with all aspects of the Administration.

* Be able to discipline, counsel students.

¢ Have high moral standards.

Teachers

Food & Nutrition (Gr. 10-12)
Art/Craft (Gr. 7-9)
Accounts/Commerce (Gr. 10-12)

Applicants must:

A. °¢ Bea practicing born-again Christian who is willing to
subscribe to the Statement of Faith of Temple Christian °
School.
e Have a Bachelor’s Degree in Education or higher from
a recognized College or University in the area of
specialization.
e Have a valid Teacher’s Certificate or ‘Diploma.
° Have at least five years’ teaching experience, three of
which must be at the high school level.
¢ Possess excellent, organizational, inter-personal comm-
unicative skills,
E e Have high moral standards.

Application must be picked up at the High School office on
Shirley Street by July 4th, 2007 and returned with the
following: a full curriculum vitae, recent coloured photograph,
church ae pastor’s name a0 three references to:

Mr. Neil Harnilton
The Principal
Temple Christian High School
P.O. Box EE-17537
Nassau, Bahamas
Deadline for application is July 13th, 2007





_ Financial Reporting Analyst

ROLE RESPONSIBILITIES

Reporting to our Country Financial Controller, the position is

responsible for management and regulatory reporting. Key

Additional

colleagues from around the

world and across the
organization and local regulatory

Interested Bahamian candidates
should forward a copy of their
resume by July 9, 2007 to:
Human Resources, Cititrust

bodies.

responsibilities include the preparation, of monthly financial
statements, profitability reports and local regulatory reporting.
responsibilities — will
reengineering efforts, unit level self-testing requirements and ad
hoc projects as assigned.

include managing process

KNOWLEDGE SKILLS REQUIRED

The ideal candidate will possess a Bachelors degree in Finance,
Accounting or related field and a minimum of 3-5 years of related

experience preferably in financial services. A professional

(Bahamas) Limited, P.O. Box N-
1576, Nassau, Bahamas OR

Fax: (242) 302-8732 OR Email:
janice.gibson@citigroup.com

designation (CPA/CA) is also required. Detailed knowledge of
local regulatory reporting requirements and GAAP,
analytical skills, attention to detail, superior.pc skills and an ability
to work under pressure with tight deadlines are also required.

strong

Challenge

yourself to a career like no other
PAGE 6B, MONDAY, JULY 2, 2007 THE TRIBUNE

CTS]

ea STWR
CWSPaper in CIFCHATION,
|
The American Embassy is presently considering applications for RY Call yy de Ae (IFILL
the following position: a

REALTY ASSISTANT
























Serves as the senior member of the GSO Housing Office working
interdependently in administering and managing the complex
legalities and details of an interagency housing pool that spans
from New Providence to Grand Bahama Island.

This position is open to candidates with the following
qualifications:

Training Officer

- An Associate Degree in the area of Business Kelly's is seeking a fully-qualified and experienced teacher to become a full-
Administration, real estate or a related field, time Training Officer for the 350 + employees in Kelly's House & Home and
Tee f ‘ ; 1 se lease? ; Kelly's Lumber. The position will demand an experienced and resourceful
: wo years ol experience in real estate leasing/contracting communicator able to motivate adults with varying educational backgrounds
required. and qualifications, and capable of devising, developing and implementing
: Must have a good working knowledge of general office on-going in-house training and development programs, with their attendant

. is testing and evaluation procedures. Such programs will include, but not
procedures, . Microsoft Office Suite. and data bas necessarily be limited to:
management.



, Orientation courses for all new employees
R : Customer Service courses for all retail employees
PERSONAL ATTRIBUTES: : Computer familiarisation courses
5 Product-specific knowledge courses for all retail employees
Must have ability to meet deadlines in a timely manner : Safety courses for drivers and warehouse/yard personnel '

and work independently with minimum supervision ; Supervisory courses for new and prospective supervisors
: Personal development courses for career advancement

The successful applicant will also be expected to develop and maintain strong
links with other providers of on-going work-related courses in specialised and

BENEFITS PROVIDED INCLUDE: 3 technical areas. Previous experience in adult education would be an asset.



This is a middle management position for an experienced and qualified

The successful candidate will be offered an excellent compensation professional educator, who is willing to demonstrate a long-term commitment
package including performance-based incentives, medical and to Kelly's development and expansion. Benefits include medical, pension, and

- oe eas ‘ Sa aa profit-sharing plans, with remuneration package dependant on qualifications
dental insurance, life insurance, pension and opportunities for and experience.

training and development.
E-mail letter of application and comprehensive resume to

Applicants must be Bahamian citizens or U.S. citizens who are ite ike ysbancinos.comiwnl sTtaipiig Cicer ge:Ub ioc,

eligible for employment under Bahamian laws and regulations. | No phone calle please
Application forms are available from 8:00 a.m. to 5:00p.m. Kelly's Houses.
Monday through Friday at the security area of the American Mell ot Morthon

§ * : r ; el: Monday-Friday 9:00am 8:00pm
Embassy, Queen Street. Completed applications should be Hepa scours eee

returned to the Embassy: addressed to the Human Resources
Office no later than Wednesday July 11, 2006.








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communicating with our customers; 5 a >
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SENIOR BUYER, KELLY’S HOME CENTRE LTD. ae ¢ cz Ope
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in The Bahamas! Cail a Tribune Sales e On” &
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THE TRIBUNE

FROM page I

demands of foreign-financed
investment projects were leav-
ing Bahamian companies less
able to service their require-
ments, as they were taking
away their staff.

Mr Lowe told The Tribune
that within the past month his
company had lost three valued
employees to the Bimini Bay
Resort and the $2.3 billion
Baha Mar Cable Beach rede-
velopment on New Provi-
dence, both projects being
located on other islands.

“We had previously lost
employees to Emerald Bay,
and we had previously lost
employees to Atlantis,” Mr
Lowe said. Kelly’s (Freeport)
had lost at least five staff to
foreign direct investment pro-
jects, from specialist depart-
ments such as inventory man-
agement, warehouse manage-
ment and back office support
to sales persons.

“Far be it for me to hold
anyone back, but it leaves us in
Grand Bahama with upper ley-
el holes to fill,” Mr Lowe said.
“There’s no way companies in
the retail. wholesale and cus-
tomer-oriented businesses can
lose like that and still provide a
high level of customer service,
having these voids appear all
over our structure.

“We're moving the
employed around at a time
when worker demand has not
even increased, based on
prospective projects. It’
to get worse.’

“We're doing inter-island
pillaging,” he added of com
panies’ attempts to recruit the
best and brightest Bahamian
staff. “It’s.creating holes in the
structure at all levels of existing
employment. It is not address
ing unemployment or the
unemployable.

“It’s going to be a major
problem, but it still does not
address the unemployable fac-
tor. We have a high percentage
of unemployable people who
are going to need intensive,

; gone

engaged in ‘inter-island pillaging

rudimentary
to beco

life skills training
ployed. That is
not being addressed.

“It’s a reality. There are
unemployable people who can-
not be employed because of a
lack of basic. rudimentary life
skills. Skills related to show-
ing up on time, or showing up
at all. The life skills of our pop-
ulation don’t bear any relation
to employment demands.”

The frequency with which
top employees were leaving
meant thal many businesses
could become reluctant to
invest in staff training, Mr
Lowe said.

He added that Kelly’s
(Freeport) spent “thousands

’ of dollars” per year to train

staff, estimating that some 70
per cent of training related to
‘life skills’ and the remaining
30 per cent to specialist areas
such as product and computer
training.

Yet former Kelly’s employ-
ees who had received such
training were now at universi-
ties in New York and the Cay-
man Islands, studying clothing
design and marine biology,
while another had moved on
to become a siraddle operator
at the Freeport Container Port.

“T cannot blame them for
leaving. but what local busi-
ness is going fo put money into

ig if they keep on leav-

* Mr Lowe asked.
“They're losing the investment
on it [training |.”

Mr Lowe said he understood
why many Bahamians chose to
leave theit mid and small-sized
employers when offered posts
and oppartunities by large-
scale resorts, given the likely
attractions of a higher salary,
defined carcer path and per-
ceived job security, plus a com-
pany pension plan.

While no employer should
stand in the way of a worker
trying to advance or better
themselves, Mr Lowe said
there were consequences for
mega-resort projects them-
selves if they continued to
draw away valued staff from

-Bahamian-owned companies.

“It reduces the viability of
the support business commu-

BUSINESS

nity to even support these
mega developments,” Mr
Lowe said. “Our capabilities,
you would think, would be
growing alongside these
anchor projects, but the trend
is actually the opposite.

“The bigger they get, the less

-able we are to actually support

them.”

Just taking Grand Bahama,
that island is awaiting the onset
of Ginn Clubs & Resorts’ $4.9
billion West End development;
the 2,000-acre Morgan Stanley
project at Barbary Beach; the
Harcourt purchase and rede-
velopment of the Royal Oasis;
the potential Raven Group
project; the opening of Inter-
national Distributors’ Sea/Air
Business Centre warehouse;
and the Bahamian Brewery.

The likely strain on the
Bahamian workforce and
labour market these projects,
and others spread across the
nation, will exert is immense.

The absence of sufficient
workers with the skills
required by these developers,
coupled with the weaknesses
of the Bahamian education
system, mean that developers
will have to turn to expatriate
workers and companies to
meet their needs.

Fred Mitchell, former minis-

.ter of foreign affairs, said

before he demitted office that
there was a sense among seg-
ments of the Bahamian peo-
ple that economic and job
opportunities were passing
them by, due to a lack of skills
and education.

The Bahamas is already
showing signs of becoming a
divided, two-speed society,
where a significant percentage
of the population is being left

behind economically and

socially, lacking the skills
required for a human capital,
knowledge-driven economy
and world.

As a result, they are likely
to become marginalised, lead-
ing to the build-up of major
social pressures. Winston
Rolle, the former Bahamas
Chamber of Commerce presi-
dent, said there was a da
that Bahamians could Bgge

cri as

EOMMY

ils

selected merchandise

“second class citizens in their
own country” if they did seize
the opportunities before them.

Mr Lowe told The Tribune
that there needed to be a pub-
lic sector-private sector part-
nership to provide life skills
training for the long-term
unemployed and unemploy-
able.

“They just haven’t been pre-
pared for the real world, and
I’m talking about the majority
of those graduates from school
throughout the country,” Mr
Lowe said.

“Some effort has to be made
to bring those new school grad-
uates, and those who cannot
find employment, up to par.

“It’s rough and it’s tough. I
have no lack of job applicants
to Kelly’s. There are hundreds
of people who'd like to work
here, but in reality and truth,
they’re not ready for employ-
ment.”

Concerns that the Bahamian
education system is turning out
a large number of semi-liter-
ate and illiterate graduates,
who are unable to read, write

-and perform simple arithemtic

tasks, is nothing new.

For example, students from
public high schools in New
Providence who sat BGCSE
exams in summer 2004
achieved an average grade of
‘F+’, a “truly disturbing” per-
formance, according to the
Coalitio for Education
Reform.

A Ministry of Education
report showed that, out of
4,367 students who sat the
Maths BGCSE in summer
2004, just 141 or three per cent
achieved an ‘A’ grade, with
some 14 per cent or 614 get-
ting a ‘U’ or failed grade. The
average or mean grade for
maths was an ‘E’.

The results for English were
slightly better, with a mean or
average grade of ‘D-’, but

’ again, only three per cent or

130 out of the 4,281 who took
the exam achieved an ‘A’
grade.

These findings were backed
up by the Inter-American

Development Bank (IDB),

which found that almost one-

,

MONDAY, JULY 2, 2007, PAGE 7B

third of Bahamians aged
between 16-24 have no acade-
mic qualifications, with one in
five from that age group nei-
ther in the education system
or employed.

And 75-80 per cent of
Bahamian students who are
taking technical and vocation-
al subjects “read below their
grade level”, leaving the
Bahamian economy facing
“acute skills shortages” at all
levels.

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PAGE 8B, MONDAY, JULY 2, 2007

THE TRIBUNE



OS SIRIUS RSS ile Aaa oP So ESE Sa ae ek
$26m tourist marketing budget ‘not enough’

FROM page 1

in the wake of the Four Sea-
sons Emerald Bay Resort
being placed into receivership
with a view to selling the trou-
bled resort, said individual
Family Islands were receiving
little or no promotional bud-
get, and “get nothing” com-
pared to the likes of Kerzner
International’s Atlantis resort.

He contrasted this with the
$4 million that Kerzner Inter-
national received from the
Government and Ministry of
Tourism each year for joint
marketing promotions for its





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Paradise Island properties, part
of the existing Heads of Agree-
ment.

The former minister of
tourism suggested that the
Bahamas might have to raise
additional revenue to increase
the available marketing bud-
get, possibly through an addi-
tional $2-$3 added on to hotel
room taxes.

The Bahamas had “to take a
second look” at how it pro-
moted its number one industry
at a time when the global
tourism competition was
increasing, Mr Wilchcombe
said, with numerous other
nations how offering the same

attractions - sun, sand and sea. |









Yet “year after year”, the
Government continued to allo-
cate $26 million of the Min-
istry of Tourism’s Budget to
marketing, not increasing this
in line with the competitive
threat. ;

By contrast, Cuba was
spending was than $100 mil-
lion on promotions, said Mr
Wilchcombe, who added: “We
have a competitive situation,
many islands to promote. The
Bahamas is different, a com-
plex situation. We’re not going
to get anywhere unless we
realise the marketing budget
we have been using for the last
10 years is not adequate.

“We’re going to have to

stop, take a look at the prod-
uct, and spend money on pro-
moting it to sustain the tourism
industry. Otherwise we’ll find
ourselves overly-dependent on
Atlantis, hopefully Cable
Beach, and other islands will
suffer.

“We've been resting on our
laurels for too long and sitting
back, taking the money.”

Mr Wilchcombe suggested
that one reason why the 185-
room Four Seasons Emerald
Bay resort, plus associated
amenities such as the golf
course and marina, had not
worked out was because there
were not enough visitors to the
hotel and Exuma.

He said this was because few
potential tourists knew of the
Four Seasons Emerald Bay
resort or Exuma, as they were
overshadowed by New Provi-
dence and Kerzner Interna-
tional’s properties when it
came to brand identity and

‘market awareness.

“It re-emphasises that we
have to spend more money
marketing our islands, because
individual properties will not
drive people to these islands,”
Mr Wilchcombe said.

“If we are going to make the
islands successful, we are going
to have to spend more money
marketing the islands. We
must have critical mass. If

there’s not the mass, they are
going to suffer. Emerald Bay
has seen the consequences.”

The Bahamas had to brand
its Family Islands, Mr Wilch-
combe said, celebrating their
diversity and uniqueness, and
making visitors aware of them,
how to get there and what they
offered. The priority islands,
he suggested, were Grand
Bahama, Abaco, Exuma and
Eleuthera.

While the Four Seasons
Emerald Bay resort had been
built, the Bahamas had not
marketed Exuma as a ‘brand’
or destination in its own right,
leaving visitors uncertain about
what it represented.

Bahamas investor given prison time



FROM page 1

parcels woirth $9 million and
$175,000 in cash.

The US Attorney’s Office
also confirmed that Mr
Masilotti had “confessed that
he flew to Nassau, Bahamas,
in February 2004 to receive a

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Symantec Antivirus administration including client deployment
Create server documentation and generate reports for audit review
Manage network security systems for LAN/WAN and VoIP
Troubleshoot network performance problems

Perform variety of tasks for remote connections

Provide technical support and guidance to local and remote users
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Interested and qualified applicants must submit applications by July 16, 2007, to:

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Fax No. (242) 502-5428







pay-off.... which was accom-
plished by giving Masilotti
gaming chips at the Atlantis
Hotel & Casino”.

The original indictment
alleged that on February 6,
2004, some $50,000 was wired
by a land developer to a bank
account “which serviced the
Atlantis Hotel & Casino” on
Paradise Island, as payment
for Mr Masilotti clearing up
traffic issues relating to a prop-
erty.

Developer

The developer and Mr
Masilotti then travelled to Nas-
sau on February 6, 2004, “to
effectuate the transfer of the

‘money which represented part

[of his] financial interest in the
property transaction”.

There is nothing to suggest
Atlantis did anything wrong in
relation to this case.

The Tribune revealed back
in July 2006 that Mr Masilotti
was an investor, along with
eight other partners including
developer James Knight and
Republican party supported

ft



"NOTICE

and cattleman, Billy Bowman,
in the Bonefish Club project
on Cat Island.

Among the assets that had
been,threatened with forfei-
ture by the US District Attor-
ney in southern Florida in con-
nection with the corruption

action was Mr Masilotti’s .

alleged interest in a Bank of
the Bahamas International
bank account, numbered
1302557, which was “held in
trust” by the Nassau-based
Maillis and Maillis law firm.

Other interests that the US
Attorney’s Office was targeting
were two Bahamian Interna-
tional Business Companies
(IBCs), For Boys to Girls Ltd
and Boys N Girls Ltd.

Both IBCs, and the bank
account appeared to have been
established to facilitate “a
development on Cat Island,
Bahamas, known as Bonefish
Creek Ltd”.

Affiliates of that company
which Mr Masilotti may have
an interest in, and which the
US District Attorney was also
threatening, are entities hold-
ing the project’s marina, hotel,

+

NOTICE is hereby given that ELISABEL RODRIGUEZ
OLIVO (MISSICK) of 115 WINDSOR ON THE MALL, EIGHT
MILE ROCK, GRAND BAHAMA, BAHAMAS is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written and
signed statement of the facts within twenty-eight days from the
2ND day of July, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



Bahama.

NOTICE

NOTICE is hereby given that WINNIFRED RUTH JOHNSON
of NICHOLLS TOWN, GENERAL DELIVERY, ABACO,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 2ND day
of JULY, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

BAHAMAS

NOTICE

The Broadcasting Corporation of The Bahamas is
seeking a suitably qualified company to dismantle and
erect a new 350 foot Transmitting Guyed Tower on its
proprty located Settler's Way, Freeport, Grand

Interested parties should contact Mrs. Sharnett
Ferguson, Executive Assistant to The General
Manager at 242-502-3945, between the hours of
9a.m.- 5p.m., Monday to Friday to collect a copy of the
Tender documents, from our headquarters located on —
Harcourt (Rusty) Bethel Drive, formerly 3rd Terrace,
Centreville, Nassau.

Bids must be returned in a sealed envelope to
Mrs. Ferguson No Later Than Friday, July 6, 2007.








airport and lot sales proceeds.

Neither Bank of the
Bahamas International, nor
Maillis & Maillis, have done
anything wrong in relation to
the allegations against Mr
Masilotti, Nor have his part-
ners in the Cat Island devel-
opment.

It is uncertain what the
impact of his conviction on the
the Bonefish Club project,
which involves 252 acres on
Cat Island, incorporating the
former Cutlass Bay Club, an
abandoned ‘clothing optional’
or former nudist resort, will

have.
Owners

Cutlass Bay closed its doors
in 1999, after then owners
James and Sandy Robertson,
alleged they were beaten in
their bedroom by a group of
intruders. The couple launched
a website that outraged Cat
Islanders, who claimed it was
designed to smear their repu-
tations, and wrote a book
about their alleged experi-
ences.

. Former John S

George head
eyes Exuma
acquisition

FROM page 1

executive has not given up on
his retailing ambitions despite
the setbacks at John S George,
which ultimately led to a bitter
split in the investor group he
put together and the business’s
sale to Andrew Wilson, owner
of Quality Business Centre
and the Radio Shack franchise.
Mr Hutton has also recently
acquired Abaco Markets’ for-
mer Cost Right store in the
Turks & Caicos Islands, paying
$2.7 million for the property -
of which $2.5 million was paid
on completion - through a bid
vehicle he formed called
Entervant Holdings.











THE TRIBUNE

MONDAY, JULY 2, 2007, PAGE 9B



FROM page 1

“due diligence” to assess: why
the Four Seasons project had
not worked out.

He told The Tribune of the
receivership: “I think it’s defi-
nitely going to have ramifica-
tions. It’s negative news, so it
will have ramifications for
some of the people considering
developments in the Out
Islands on that sort of scale.

“Generally, it’s not the sort
of news you want to read, and
will certainly cause people to
look at the Out Island resort
model.”

The precise reasons why the
Four Seasons Emerald Bay
resort has failed to produce a
profit, forcing the investor con-
sortium that owns it, Emerald
Bay Resort Holdings, into
receivership after it defaulted
on loan repayments in April
2007, are unclear.

Some have cited the length
of time that it took to construct
and open the resort, with the
composition of the investor
consortium changing fre-
quently as it waited for gov-
ernment approvals and per-
mits.

Others, though, have cited
the high costs associated with
building the infrastructure to
support the Four Seasons
Emerald Bay Resort, and the
high operating cost environ-
ment encountered in the
Bahamas, as depressing the
resort’s margins and bottom
line profits.

Mr Townend, though, point-
ed out that Great Exuma,
where the Four Seasons Emer-
ald Bay resort was located, had
more pre-existing infrastruc-
ture than most Family Islands.

He added: “I think people
will want to know the reasons
why. People investing in these
developments will certainly
want to do due diligence on
the reasons why this one has
failed to deliver.

“They are going to want to
understand what has gone on.
There may be some project
specific issues that are not
immediately apparent. Each
project is unique. You’d like
to think there are specific rea-
sons why this one has not
worked out.”

Mr Townend’s views were
backed by former minister of
tourism, Obie Wilchcombe,
who agreed that developments
surrounding the Four Seasons
Emerald Bay resort had the
ability to damage two key dri-
vers of the Bahamian economy
- foreign direct investment and
the tourism industry.

Describing the receivership
as “bad news” and “terrible”,
Mr Wilchcombe told The Tri-
bune: “I think it will have that
impact, which is why we have
to get on our horse and ride a
new approach to marketing
and how we can take these
anchor properties to the next
level.

“Developers will sit back .

and wonder. Emerald Bay and
the Four Seasons, which is the
best brand in the world, rated
number one in many surveys.
If they’re having difficulty suc-
ceeding, what does that
mean?”

The Bahamas has enjoyed
great success in the global
tourism industry, its crown jew-
els being Kerzner Internation-

BUSINESS

OSM SRE Coe EBs SiO TUSTIN SG
Emerald Bay resort to cause ‘negative
ramifications’ for foreign investment

al’s Atlantis and One & Only
Ocean Club properties.

Yet alongside this there have
also been some spectacular
failures, such as Driftwood’s
exit from the Royal Oasis,
leaving $22 million in liabili-
ties behind; the consistent loss-
es that forced the Canadian
Commercial Workers Indus-
try Pension Plan (CCWIPP) to
sell majority interests in the
British Colonial Hilton and
still-closed South Ocean
resorts; the closure of Club
Med on Eleuthera; and now
the Emerald Bay receivership.

These factors are now likely
to be taken into account by
potential investors and
financiers of Bahamian resort
projects, still the key factors
behind economic, income and
employment growth, even
though the Bahamas was
ranked as the Caribbean
nation with the “greatest
tourism growth potential” by
the region’s major financial
insitutions in a survey per-
formed by Mr Townend and
his KPMG colleagues.

The survey, presented at the
Caribbean Hotel & Tourism
Investment Conference
(CHTIC), found that 50 per
cent of banking respondents
ranked the Bahamas as hav-
ing the greatest growth poten-
tial in the Caribbean tourism
and hotel industry, with the

NOTICE

NOTICE is hereby given that JOHN WIBERG OF 4 BAY
SHORE CLOSE, WEST BAY, P.O. BOX CB-11000, NASSAU,

BAHAMAS,

is applying to the Minister responsible for

Nationality and Citizenship, for registration/naturalization as a

citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 2ND day of JULY, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas.



Turks & Caicos Islands close
behind.

Mr Townend said earlier this
year: “Most of the financial
institutions we we spoke with
have the Bahamas on the radar
screen. They are invested or
would like to invest.

“The other major reason is
that the Bahamas continues to
benefit from the diversity of
its product. There are a num-
ber of available sites around

the island for development and
its location.

“At the end of the day, once
you get a couple of large
anchor projects, more tend to
follow, like Kerzner, Four Sea-
sons, Baha Mar, Ginn. There’s
a lot of projects going on that
raise the profile of the country
as a place to invest.”

This ranking could now be
in jeopardy, given the Emer-
ald Bay situation.

INSIGHT

For the stories

behind the news,
cst-To MK (e 4) 4
on Mondays



EMPLOYMENT OB eke tt

SDarro

SBARRO THE ITALIAN EATERY HAVE OPENINGS FoR |
FULL AND PART TIME EMPLOYEES FOR ALL LOCATIONS. |
e MANAGERS.
- COOKS
e KITCHEN PREP
- CASHIERS __
- FOOD SERVERS ed
PLEASE REPORT TO THE COB CAFETERIA SITE (JUST OFF |
TUCKER ROAD) ON ANY OF THE FOLLOWING DAYS AND |
TIME FOR AN INTERVIEW.

MONDAY
TUESDAY

JULY 2ND 2007
JULY 38RD 2007

4PM. -7 P.M.
(4PM, -7 P.M.

NO TELEPHONE INTERVIEWS



Jibs

invites applications for the position of

Group Marketing Coordinator
Money Transfer Services

International Protector Group
is seeking to recruit the following persons:





SUMMARY:

Responsibility for assisting in the strategic planning, development
and execution of marketing programmes for the suite of products
and services offered by Fidelity’s Money Transfer Services Division,
including the Western Union money transfer service currently in The
Bahamas, Cayman Islands and Turks & Caicos Islands. Position is based
in The Bahamas.

TRUST OFFICER

The successful candidate should have at least 2) year's

experience in the administration of trusts and :companies.

Previous experience. will include the. incorporation of

- companies and ensuring compliance with local regulations, —
updating corporate records, preparing company and trust

minutes and opening bank accounts. A familiarity with the

applicable laws of The Bahamas would be.an advantage but

is not essential.



RESPONSIBILITIES:

e Develop annual and long-term marketing programmes.

Manage development and execution of the following: advertising

and promotions, public relations, merchandising, field marketing,
direct marketing and events programmes, including creative '

development and media planning.

Work closely with Western Union and product partners to plan and

coordinate joint marketing.

Monitor industry trends to help guide the development of

marketing programmes. ;

Conduct business analyses of promotions and other initiatives to

determine effectiveness.

Manage marketing Rese effectively.

ACCOUNTANT

The successful candidate should have previously worked in
the accounting department of a Trust Company. or other
financial institution. They should be familiar with integrated
accounting software.

QUALIFICATIONS:

¢ BA in Marketing, International Business or related field required.

e Minimum of 3 years marketing experience with consumer
packaged goods or consumer financial or other services company,
preferably with international exposure.

Experience in developing and implementing marketing
programmes, including advertising creative, media planning,
promotions management, direct marketing, merchandising, public
relations and market research.

Fluency in Creole required, and knowledge of Spanish desirable.

International Protector Group is a specialist. provider of
Protector and related services in the trust industry. We are
closely involved in the establishment and operation of Private
Trust Companies, Foundations, Trusts and Companies for our
clients.

Interested candidates who wish to apply for either of the
above positions should apply in writing to the following:

SKILLS:

¢ Solid strategic and analytical thinking skills.

e Excellent verbal and written communication skills.

e Ability to work with multi-disciplinary teams to achieve business
objectives.

e Solid PC skills (Excel, Word, PowerPoint).

e Ability to travel

Andrew Law

International Protector Group Limited
Montague Sterling Centre

East Bay Street

P.O. Box N-3924

Nassau, Bahamas



The person will report directly to the Vice President.
Competitive compensation package will include salary, benefits and bonuses.

info@ipg-protector.com
Send resume no later than July 12th, 2007 to:

The Director Human Resources
2) Haan
51 Frederick Street
P.O. Box N-4853

«Nassau
Fax 326.3000

e-mail: careers@fidelitybahamas.com

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, PAGE -10B; MONDAY, JULY. 2, 2U0/

IHE |RIBUNE



OSM Soto



RU San
mg ee

the #1 newspaper in

circulation, just call
022-1986 today!

on

; WINDING Bay
ABACO, BAHAMAS



$260m BIC deal
still under review

mâ„¢ By NEIL HARTNELL
Tribune Business Editor

he Government is
still reviewing the
$260 million offer
made by Bluewater
Communications Holdings for
a 49 per cent stake in the
Bahamas Telecommunications
Company (BTC), with the fate
of the deal struck by the pre-
vious PLP government still
undetermined.

Zhivargo Laing, minister of
state for finance, told The Tri-
bune the proposed deal was
“still under review” when con-
tacted by this newspaper, his
update coming as this newspa-

Cable & Wireless (C&W) had
also been in contact with the
Government to assess their
chances of re-entering the fray.
. “There’s nothing I can say
specifically other than that the
entire thing is under review,”
he added. “Our intention is in
privatising BTC with a view to
having a strategic partner that
can bring in improvements to
the services delivers to the
public. That continues to be
our intention.”

‘When asked whether the
FNM government would
review the Bluewater deal on
the ground that while the pur-
chase price. and other terms
may look good for the Trea-

Construction Project Manager

e Minimum 5 years experience in construction
management

e Working knowledge of timber and masonry
construction methods

e Proficient in reading and understanding construction —
plans eet ry

e Proficient in performing material take-offs and placing
material orders

e Working knowledge of construction materials

e Proficient with Microsoft Word and Excel .

e Good communication skills

Warehouse Manager

e 5-10 years experience managing a large warehouse -

e Working knowledge of accounting aspect of Warehouse
Management

¢ Computer savvy including proficiency with Microsoft
Word and Excel

e Solid day-to-day decision maker

e Good Communication skills with both upper
management and labour

@ Working knowledge of construction materials

Resume should be sent to Nick Sims, Development
Department, The Abaco Club on Winding Bay, P.0. Box



wy AB-20571, Marsh Harbour, Abaco or fax #242-367-2930

Mm Vacancies for Teachers for September 2007
i Kingsway Academy, an Interdenominational,

'* Evangelical, Co-Educational Christian Day School,

«|| invites applicants from qualified and experienced

= candidates for teaching positions at the Elementary and
“} High School levels (grades 7 through 12).

«| ELEMENTARY:

<{} Trained Physical Education Teacher for grades K-4

«| through grade 6

= | HIGH SCHOOL

High School applicants should possess a Teachers

« | Certificate, at least a Bachelor’s Degree in the particular
= | subject area would be an asset.

z

EQLULaE

=
=

SEREFKL ESSER RITES SSRI SRK AK TE

5

FER EREKSS ERTIES RGGRSRSRPE TER EPL SESSA AR ERES

° Biology/General Science

¢ English Language/Spanish

e English Language/Literature

* Mathematics/Physics

¢ Business Studies (Office Procedures, Economics,
Accounts)

¢ Food & Nutrition and Clothing

° Information Technology

The suecessfulcandidates'should have the following:

e An Academic Degree in the area of specialization
* A Teaching Certificate

* Excellent Communication Skills

* A love for children and learning

* High standards of morality

* Be a born again Christian

Letters of application together with a recent color
photograpgh and detailed Curriculum Vita (including
the names and addresses of at least three references,
one being the name of one’s church minister) should be
forwarded to:

Ms. Kelcine Hamilton
Academy Affairs Manager
Kingsway Academy Business Office
Bernard Road
Nassau, Bahamas

Salaries would be commensurate with qualifications and
experience.

Deadline for applications is Monday July 16, 2007.



per was told that rivals such as _ sury. and BTC, but not be so

#3324 Union Court, Shirley St. & Elizabeth Ave

hy Notable, convenient office address. Four ;
commercial office spaces available in a .
tange of sizes. Ground floor &
penthouse. Near hospitals, courts &

Contact us: Nea
_- downtewn Bay St.

Starting at $18 per sq. ft.

GRAHAM

REAL ESTATE» -

Showing Integrity Every Day

Linda Eldon

Property Manager
Tel: (242) 356-50303
Email: linda@grahamrealestate.com:
Web: www.grahamrealestate.com



~ Legal Boties
NOTICE

NOTICE IS HEREBY GIVEN as follows:

(a) GOLDON CORONA CORPORATION LIMITED
is in voluntary dissolution under the provisions of
Section 137 (4) of the International Business
Companies Act 2000. :

(b) The dissolution’ of the said company commenced on the
26th June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.

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

Dated this 29th day of June, A.D. 2007

Michael Low
Liquidator

Bist

Pricing Information As Of:
2

52wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard , MS
Finco -
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson

ier Real Estate ‘

12.25 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)

28.00 ABDAB
14.00 Bahamas Supermarkets
0.35 RND Holdings

1.345055°
3.2018***
2.681688**
1.244286****
11.5519°***"

Colina Money: Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund

2 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 - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

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

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







@ ZHIVARGO LAING

good for Bahamian residential
and business consumers and
the wider economy, Mr Laing
said: “I think it’s fair to say all
that has to be taken into
account.

“In doing so, we will create a
win-win situation for all. That
has to be the objective.”

He then reiterated: “Every-
thing is on the table. There is a
review of everything that has
taken place.”

Just prior to the May 2, 2007,
general election, the PLP gov-
ernment concluded some two
years of negotiations with
Bluewater by agreeing the final
terms of the private equity-
funded bidder’s offer.

The PLP Government had
initially sought $250 million,
with Bluewater only prepared
to pay $225 million, so an
arrangement was worked out
where Bluewater would pay
$220 million up front, a further
$35 million at the end of the
five-year cellular monopoly,
and a final $5 million in the
sixth year — for a total of $260
million.

Yet it seems. likely that no
‘agreement in principle’ was
signed, as James Smith, former
minister of state for finance,

IMAtOld The Tribune previously i
‘that while Bluewater’s terms

were agreed by Cabinet, this

was not conveyed back to the
bidder.

The $260 million price is
double the amount offered by
the leading bidder in the failed
2003 privatisation process -
BahamaTel - leading many to
believe Bluewater is over-pay-
ing for BTC.

Yet the price may have been
induced by the likelihood of a
five-year cellular monopoly for
Bluewater, profits from this
revenue stream likely to be
enough to recoup much of the
$260 million and provide the
buyer with enough breathings
space and cash flow.

Deal multiples have also
recovered to 7x and 8x, sources
have said, with the global tele-
coms industry having recov-
ered from the trough it was in
in 2003, factors that could also
have influenced the Bluewa-
ter deal despite the erosion of
BTC’s market share in many
product areas through both
legal and illegal competition.

However, a five-year cellular
monopoly would have been
much more than that enjoyed
by BahamaTel had it been suc-
cessful, leaving many analysts
fearing that the Bluewater deal
would inhibit liberalisation of
the Bahamian telecoms mar-
ket. This would, in theory, gen-
erate competition that would
lower prices and improve ser-
vices and choice for consumers.

The relative lack of trans-
parency surrounding the PLP
government’s last privatisation
process has also been criticised
in some quarters, given that
the Bluewater talks were vest-
ed with heavy secrecy com-
pared to the 2003 ‘open beau-
ty contest’ process.

As a result, analysts have
questioned whether, by shut-
ting out all rival offers and

negotiating exclusively with
“ Bluewater, the’ Government
-cut‘off all prospécts of obtain-

ing a better deal.

ANTE

JEWELLERY SALES ASSOCIATES |

Must be.....
Honest, Reliable, Dedicated,
Professional, Energetic &
SELF MOTIVATED

‘Excellent $$$ Bonus Potential
Do You Have What it Takes?

If the answer isYES then take the next step

FAX RESUME TO 326-2824

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ur LO
(G08 BA
Ly



7.71%
0.00%

aaa aa rapse em oacnaaauaureremeascecney
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 volume of the prior week

EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

NAV KEY
* - 22 June 2007
** - 30 April 2007

“** - 31 May 2007

**** . 30 April 2007


THE TRIBUNE BUSINESS

BAMONT TRUST COMPANY LIMITED

BALANCE SHEET
AS OF DECEMBER 31, 2006
(Expressed in United States dollars)

2006 2005
ASSETS
Cash and cash equivalents $ 2,391,950 $ 2,524,458
Prepaid expenses 71,540 29,167
Accounts receivable, net (Notes 4 and 6) 229,937 66,200
Fixed assets, net (Note 5) 84,836 118,181
TOTAL $ 2,778,263 $ 2,738,006

LIABILITIES AND EQUITY

LIABILITIES:
Accounts payable and accrued expenses $ 39,462 $ 30,700

EQUITY:
Share capital:
Authorized, issued and fully paid: :
30,000 voting A Shares of $1 each 30,000 30,000

1,970,000 non-voting B Shares of $1 each 1,970,000 1,970,000
Retained earnings -_ 738,801 707,306
Total equity 2,738,801 2,707,306

TOTAL $2,778,263 $2,738,006

See notes to balance sheet.

This balance sheet & approved by the Board of Directors on February 28, 2007 and is signed on its
behalf by: pe

/ Whe
/



Director

BAMONT TRUST COMPANY LIMITED

NOTES TO BALANCE SHEET
YEAR ENDED DECEMBER 31, 2006

1. GENERAL

Bamont Trust Company Limited (the “Company”) was incorporated on August 25, 1998 in
The Commonwealth of The Bahamas under the Companies Act, 1992. The Company was
granted a restricted trust licence on November 26, 1998, to act as trustee on behalf of the
Stephan Schmidheiny’ Family and commenced operations on December 1, 1998. The
Company’s main activity is the management of trusts and investment companies.

The registered office of the Company is located at the Bahamas Financial Centre, Shirley and
Charlotte parsers: Nassau, Bahamas.

_2. NEW AND REVISED INTERNATIONAL ACCOUNTING STANDARDS AND.

Bee Aaa

INTERNATIONAL FINANCIAL REPORTING STANDARDS AND |

,INTERPRETATIONS GQ yovd ota node,

At the date of authoriontcHl of the balance sheet, ne fatemsteel Accounting Standards Board

(“IASB”) has issued IFRS 6, IFRS 7, and IFRIC 4-10, which are not yet effective,

Furthermore, IASB has issued amendments to IFRS 4, IAS 1, TAS 19, and IAS 39, which are
also not yet effective,

Management anticipates that the future adoption of the Standards and Interpretations that are
applicable to its business will have no material impact on the balance sheet of the Company.

3. SIGNIFICANT ACCOUNTING POLICIES

This balance sheet has been prepared in accordance with International Financial Reporting

Standards. The preparation of the balance sheet in conformity with International Financial.

Reporting Standards requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at
the date of the balance sheet. Actual results could differ from those estimates.

The following is a summary of the significant accounting policies:
a. Fixed assets - Fixed assets, with the exception of paintings on which no depreciation is

charged, are stated at cost less accumulated depreciation and amortization. Depreciation
and amortization is charged on a straight line basis at the following annual rates:

Office furniture 20%
Office equipment ‘33.33%
Leasehold improvements Over lease term
Motor vehicle 33.33%
Software 33.33%

b. Foreign currency translation - All amounts in the balance sheet are expressed in United
States dollars. Assets and liabilities denominated in currencies other than United States
dollars are translated at the rate of exchange ruling at the balance sheet date.

c. Assets under administration - Assets held by the Company as trustee are not reflected in
the balance sheet.

d. Related parties - Related parties consist of shareholders and directors of the Company

and other: entities controlled by these parties. Related parties include directors and

~ -officers‘of the Company, who are considered members of key management, and who are
persons who have authority for planning, directing and controlling the Company.

€. Accounts receivable, net - Accounts receivable are carried net of provisions for bad
debt. The allowance is reviewed periodically and adjusted to reflect any impairment in
the carrying value of such receivables.
i Cash and cash equivalents - Cash and cash equivalents is represented by cash and
deposits with banks.
4. ACCOUNTS RECEIVABLE, NET

Accounts receivable, net is as follows:

2006 2005
Accounts receivable $ 229,937 $ 85,413
Less: provision for bad debt : (19,213)

$229,937 $66,200
The movement on the provision for bad debt during the year is as follows:

2006 2005

Balance, beginning of year Sees 2 Sees -
Provision charged to operation (19,213) 19,213
Balance, end of year g - $ 19,213



WORUAT, SULT &, 8007, FAGE 718

5. FIXED ASSETS, NET

The movement of fixed assets during the year is as follows:





2006
Beginning Ending
Balance _ Additions__ Disposals Balance
COST:
Paintings $ 20,665 $ - §$ - $ 20,665
Office furniture 89,302 . ° 89,302
Office equipment 43,177 4,946 ° 48,123
Leasehold improvements : 85,631 - - 85,631
Motor vehicle 14,710 - - 14,710
Software 275 - : 275
$253,760 $ 4946 $ - $ 258,706
' 2003
Depreciation
and
Beginning Amortization - Ending
Balance _Expense__ Disposals Balance
ACCUMULATED
DEPRECIATION
AND AMORTIZATION:
Office furniture $ 62,673 $ 7,162 $ - $ 69,835
Office equipment ; 38,149 = (3,795. - 41,944
Leasehold improvements 29,785 : 22,339 : $2,124
Motor vehicle 4,903 4,903 - 9,806
Software Lie tg? Sa Nuon teeta ty 1 6K
_ $138,579 $_ 38291 $=; $173,870
2006 Net Movement. ~ $118,181 $ (33,345) $ - $84,836
2005 Net Movement $ 132,263 $ (11,914) $ (2,168) $ 118,181

6. RELATED PARTY BALANCES AND TRANSACTIONS

; 2006 2006
Accounts receivable $_ 229,937 § 66,200
Provision for bad debt : a - 319,213

7. COMMITMENTS UNDER OPERATING LEASE

The Company has entered into a lease agreement for its office premises dated September 1,
2004, and expiring June 30, 2008. The lease provides for yearly rent payments plus a share of
certain costs. Future ea ener rere perrepete ener, np lnane ave me sallow:

Due within one year $ 82,755 $ 82,755

Due after one year 41,377 124,133
$ 124,132 $ 206,888
8 FAIR VALUE OF FINANCIAL INSTRUMENTS” Gap seee (aren en ourtega tes

The estimated fair value represents values which financial instruments’ could be exchanged for
in a current transaction between willing parties. Where there is no available wading market,
fair values are estimated using appropriate valuation methods.

Fair value of financial instruments carried in the balance shect are assumed to approximate
their carrying values due to their short term maturity and liquidity.

Deloitte

' Detoltte & Touche
Chartered

and Management Consultants
Centrevitie

2nd Terrace,
P.0. Box N-7120
Nassau, Bahamas

Tel: + 1 (242) 302-4800
Fax: #1 (242) 322-3101
http://www.deloitte.com.bs

INDEPENDENT AUDITORS’ REPORT

To the Shareholders of
Bamont Trust Company Limited:

We have audited the balance sheet of Bamont Trust Company Limited (the “Bank”) as at December
31, 2006. This balance sheet is the responsibility of the Bank’s managemem. Our responsibility is
to express an opinion on this balance shect based.on our audit.

We conducted our audit in accordance with Intemational Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurence.about whether. the balance.
sheet is free of material misstatement. An audit includes examining, on a test basis, cvidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall presentation of the balance sheet. We belicve that our audit provides a reasonable basis for
our opinion.

In our opinion, the balance sheet presents fairly, in all material respects, the financial position of the
Bank as at December 31, 2006, in accordance with International Financial Reporting Standards.

Without qualifying our opinion, we emphasize that the balance shect does not comprise a complete
set of financial statements in accordance with International Financial Reporting Standards.
Information on results of operations, cash fl.ws and changes in cquity is necessary to obtain a

complete understanding of the financial position, performance and es in financial position of
the Bank.

Se a % ‘i

e
February 28, 2007

A member firm of

Se ae

aa.
PAGE 12B, MONDAY, JULY 2, 2007

THE TRIBUNE



TIRE aa ST) TTS Ng co 2
Bahamas faces ‘hard choices’

on economic competitiveness

@ By NEIL HARTNELL

Tribune Business Editor

he Bahamas faces

“hard choices” in

trying to make its

. business environ-

ment more competitive and effi-

cient, an economist has warned,

as the lack of profitability in its

hotel industry could drive for-

eign direct investment away to

rival destinations where it can

obtain a greater return on its
investment.

Ralph Massey, who helped to
produce the 2003 Tourism
Taskforce on Trade Liberalisa-
tion report, which highlighted
many of the problems still
plaguing the hotel industry
some four years later, said in
the wake of the Four Seasons
Emerald Bay Resort going into
receivership that the Bahamas’
high operating cost environ-
ment was placing great pressure

on hotel profitability.

He said: “Yes, you can make
money here if you tap into the
high-end of the market like
Atlantis does. You can get a
positive return on capital, and
Atlantis certainly does. But if
you're not tapping into the high-
end market, you’re going to
have problems, and if you’re
going to the Family Islands it
gets worse because they don’t
have lower costs than New
Providence.”

Little has changed since the
Taskforce’s 2003 report, which
when comparing hotels that
charged similar average daily
room rates (ADRs), the oper-
ating profits achieved by Nassau
hotels are 59 per cent and 74
per cent lower than their coun-
terparts in the Caribbean and
the US.

Gross operating profits,
which do not include payments
for interest, taxation, deprecia-

B
G
&
3B

©2007 Cr

JONES &CO

Sales & Full Service Department
Rosetta & Montgomery Streets

322-2188/9



tion and amortisation, were 9
per cent for the Nassau hotel, 22
per cent for the Caribbean and
35 per cent for the US.

The Taskforce report said:
“This means that the Nassau
hotel was, at best, in a ‘break-
even’ position on net profits.”

Mr Massey told The Tribune
of the high-cost base in the
Bahamas: “It’s a fact of life and
they’ve [the hotels] got to deal
with it. The fact they’re oper-
ating and trying to compete in
an international market where
they are among the highest cost
operators in the market.

“Where are they going to get
the margins from?”

Atlantis is one of the gfew
Bahamian resorts to consis-
tently deliver a rate of return
to its owners via profitability.
This is because it is a unique,
one-of-a-kind experience that
tourists are prepared to pay top
dollars for, delivering a ‘value-
for-money’ vacation that
exceeds expectations.

This in turn allows Atlantis
to charge a relatively high room
rate, offsetting the high cost
environment and enabling the
resort to keep margins and prof-
itability up.

Yet Mr Massey pointed out
that the high operating cost
environment was also leading



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resort developers to seek
greater investment incentives
from the Government, in a bid
to ensure they made money on
the project.

He added that the high cost
of doing business in the
Bahamas, which also included
the dealys caused by govern-
ment bureaucracy and red tape
associated with licensing and
permitting processes, impacted
all businesses, especially
Bahamian-owned small busi-
nesses and start-ups.

Companies

These companies, Mr Massey
said, had limited cash resources,
and “the generation of positive
cash flow in the start-up peri-
od is vital”, but high costs negat-
ed this.

“What can be done about
this? That’s the real hard part,”
Mr Massey said. “None of the
remedies are easy for the
Bahamian government and
Bahamian people.

“One of them would be if
BEC was not a government cor-
poration, but a completely inde-
pendent company that has some
market pressure on it to be
more competitive, lower rates
and be more efficient.

“The high costs here are due












sane €







Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

HARRIER INTERNATIONAL CORP.

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
HARRIER INTERNATIONAL CORP. in‘in Dissolution.”

The date of commencement of dissolution is the 15th day of

June, 2007.

Ms. Ximena Furtado Cazes
Juncal 1305, 21st Floor
Montevideo, Uruguay
Liquidator

to a huge multitude of factors,
which can’t be resolved quickly.
Poor productivity, improving
the labour supply - which is a
difficult thing - and those out-
lying resort properties have the
problem of recruiting qualified
Bahamians, who are a scarce
commodity.”

He added: “The positive
thing is that something can be
done if there is a will to do it,
but the will to do it has to over-
come the inertia of state
bureaucracy.

“It’s like all issues faced by
the Bahamas. It takes the will of
the Government to do some-
thing about it, and if the will is
not there to do what is neces-
sary, it just doesn’t happen.”

Back to the Tourism Task-
force report again. It found that
Utility and mechanical costs for
the Nassau hotel were 36 per
cent and 114 per cent higher
than for its Caribbean and US
counterparts respectively.

The report identified as “a
major culprit” the higher elec-
tricity costs in the Bahamas,
where hotels would typically
pay BEC $0.16-$0.18 per kilo-
watt per hour, which was twice
the level for businesses in coun-
tries such as Ireland, the UK,
Germany, the US and Spain.

The report said: “One



WANTED



informed Bahamian business-
man believes that a well man-
aged private power producer in
the Bahamas could produce at
$0.09-$0.10 cents per kilowatt
hour.

This means that the cost to
Bahamians of an inefficient
BEC is almost $0.50 on every
dollar spent on electricity.”

The report found that the
Nassau hotel’s room payroll
costs were 40 per cent and 17
per cent higher respectively
than their Caribbean and USA
counterparts, and this combined
with productivity “place the
Nassau, hotel at a distinct com-
petitive disadvantage”.

The report found that the
weekly salary for a waiter (with-
out gratuities) and a cashier in a
Nassau hotel were significant-
ly higher (at $205 and $297
respectively) than their equiva-
lents in the Dominican Repub-
lic, which it. attributed to the
latter using more labour, reduc-
ing its significant cost per unit.

Food and beverage expens-
es, though, were 21 per cent and
183 per cent higher for the Nas-
sau hotel against its Caribbean
and United States counterparts,
a figure it described as
“absolutely astounding” and
reflected the high cost of pilfer-
age and wastage.



Cardiac Cath Lab Technician
and/or

Experienced Registered Nurse




} Call:
242-326-2346

Dr. H. Coleman

Bahamas Internventional Cardiology Center




Legal Notice

NOTICE —_

INTERNATIONAL BUSINESS COMPANIES
ACT
(No.45 of 2000)

ATLAC HOLDINGS LTD.

In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4) °
of the International Business Companies Act (No. 45 of 2000),
ATLAC HOLDINGS LTD. has been dissolved and struck off the
Register according to the Certificate of Dissolution issued by the
Registrar General on the 8th day of June, 2007.

Luis Pineyriga Pittaluga
Juncal 1305, 21 Floor
Montevideo,
Republica Oriental del Uruguay
Liquidator

To meet the challenge of operating our growing business, we wish to recruit a:

‘Compliance Officer

Main responsibilities

Ideal profile

What we offer

-~ Planning, organizing the compliance function for the bank

— Developing and maintaining adequate policies and procedures
— Reviewing and managing the documentation of client files

— Liaising with regulators and compliance officer of the Group

— Several years of experience as compliance officer in private banking
— Knowledge of Bahamian and international compliance requirements
— Computer literacy with communication skills

— Motivated team player with pleasant personality

— Must be able to work independently with minimal supervision

— Ability to conduct the monitoring of credit risk clients is an asset

— The opportunity to play an active role in the success of an innovative bank
— The chance to work within a dynamic and motivated team
— A salary which is commensurate with the job

— Competitive welfare benefits

Please send your resume and reference to: betsy.morris@syzbank.com
SYZ & CO Bank & Trust LTD. | Tel: (+1 242) 327 66 33
Bayside Executive Park | P.O. Box N —1089 | Nassau, Bahamas

Private Banking
OYSTER Funds

Alternative Investments

SYZ & CO

Created to perform |syzaco

www.syzbank.com



ye
ye

Bank & Trust
THE TRIBUNE BUSINESS



| MONDAY EVENING

JULY 2, 2007 |

















7:30
NETWORK CHANNELS
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WPBT |cycling. rian sterling silver tea set; 20th-cen- |Feb. 17, 1776; a paper signed by Al-"Bemini’ Gian Lorenzo Bemini, “The
tury leaded-glass lampshade. lies. (N) © (CC) Ecstasy of St. Theresa.” (N)
|The Insider (N) |The New Adven-|The New Adven-|Two and a Half |(:31) How! Met |CSI: Miami “Darkroom” The CSI
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Christine (CC) |Christine (CC) bonding. (CC) _|(CC) missing women in a safe. (CC)
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@ WT VU |wood (N) (CC) Burbank, Calif., couple works with |two women who sit at different ta-_ {Stone Phillips’ interviews and inves-
crashers at the wedding. (N) bles. (N) © (CC) tigations. (N) © (CC)
Deco Drive Hell’s Kitchen 1 (PA) (CC) Hell's Kitchen The remaining seven|News (N) (CC)
WSVN me chefs must present a meal for a
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Jeopardy! (N) |Wife Swap A mom who lets her —_|(:01) Extreme Makeover Woman |Supernanny “Nitti Family” A woman
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| with a militaristic mom. (CC) — jamputee. (N) 0 (CC) young boys. “ (CC.
CABLE CHANNELS
(:00) CSI: Miami CSI: Miami The team probes the |The Sopranos a Columbus Day Parade ( an The Sopra-
| A&E eke ance) mur ofa mae 4 eet atafe- {draws a protest. 0 (C ‘The Weight”
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| leprechaun will stop at nothing to protect his gold. (CC)
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:00) On the The Millionaire Inside: Debt Free |The Big Idea With Donny Deutsch
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| CNN (:00) The Situa- | Paula Zahn Now (CC) nn e) King Live Isaiah Washington. |Anderson Cooper 360 (CC)
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Cops “Fort = ci me Patrol: Behaving Speeders ery te
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Daniel Roebuck, Elizabeth Morehead.

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(CC) scapes tions tions cue quired

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p 2007 Paris-Roubaix World Cup —|2007 World Series of Poker Satel-
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Daly Mass: Our
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Cathe Friedrich

Fox Report:
Shepard Smith

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(:00) Attack of
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The Gym “Hot Squad” Amber tries
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Poker Superstars Invitational
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European PGA Golf 2002 Deutsche
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a SAP Open -- Final Round.

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Walker, Texas Ranger Walker and | * x LITTLE HOUSE: LOOK BACK TO YESTERDAY A Drama)

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Albert has a fatal blood disease, (CC)



Party Police: Vegas Bikers

That's So Raven |Life With Derek
Competition. |Casey called
(CC) “Klutzilla.” (CC)

Talk
Baseball Tonight (Live)

2007 World Series of Poker Satel-
lite event from Las Vegas.

Abundant Life
FitNation “Barefit and Pregnant’

Healthy pregnancies. (CC)

On the Record With Greta Van
Susteren (Live) (CC)

The Turn Champions
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rowed down to the final two.

. os and acorn to
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Army Wives “Independence Day”

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Design Star The competition is nar- |Design Star The two remaining de- Design Star (Season Finale) The

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Accordingto —_|Friends Joey
Jim Jim’s real fa- |asks Phoebe's
ther. 1 (CC) —_ {sister ona date.

% & AURORA BOREALIS (2005, Drama) Joshua sas 5
Roxy learns that a Polak is |Sutherland, Juliette Lewis. Panes An aimless young man cares for his

ailing grandfather. (CC)

MSNBC 2 a ‘oat Comnitown With “ Olber- — |Scarborough Country MSNBC Reports Long Beach, Calif.
Funniest Home Feel Prince of Fea Prince of Fists Prince of
Videos Bel-Air Bel-Air Bel-Air
Age of Love (N) © (CC) (cc) (N) 0 JNews
ee Travis Rea Robert ra Ken _|Payback Jaime
rker. Downey, Jr. Shamrock. Pressley.
Bishop T.D. Behind the Mark Chironna a Jesse Duplantis |Praise the Lord (Live) (CC)
TBN Jakes (CC) —~ |Scenes (CC) Franklin (CC) _|(CC)

winner is announced. (N) 1 (CC)

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|TLC le, Big World Big Worl d Diter Big World Stool |Marc’s insurance Ml not cover his |“Mission Self Destruct” Former
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Law & Order “Magnet” Detectives |The Closer The squad ins a Po Heartland A patient needs a living
TNT investigate the strangling of a prom- |while attending the funeral of a donation from her brother, incarcer-
ising Hispanic student. ( mer colleague. (N) (CC) ated for murder. (N) (CC)
TOON Pokemon: Dia- Xiaolin veo Camp Lazlo |Home for Imagi-|Grim Adven- {Courage the — /Naruto
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| “{(:00) Law & Or- |Law & Order: Soe Victims Unit/WWE Monday Night Raw Starring WWE Champion John Cena, former
| US A der: Criminal In- |DNA tests on a dead girl reveals an |ECW Champion Arce Lashley and new Women’s Champion Candice
tent (CC) —_|incestuous pregnancy. Michelle. (Live) (CC)
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News (N) Jeopardy! (CC) |Frasier Frasier {Frasier “Boo!”
and Roz room to- /Frasier dons a
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PREMIUM CHANNELS

* & PHAT GIRLZ (2006, Comedy) Mo'Nique, Jimmy |(:45) *» BIG HOMMA'S HOUSE 2 (2006) Martin
Lawrence, Nia Long, An FBI agent reprises his dis-

2006, Drama) André Benjamin, Antwan Patton, Paula | x * x THE aeaan VIRGIN

Big Love “Rock and a Hard Place”
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guise, posing as a

(4 ae &% AQUAMARINE (2006, Comedy-Drama) Sara Paxton, Joanna} * x DOCTOR DOLITTLE (1998, Comedy) Eddie Mur-
joJo” eeite discover a mermaid in phy, Ossie Davis, Oliver Platt. A 20th- ee doctor
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* *% FORCES OF NATURE (1999, Romance-Come- ore Making
dy) Sandra Bullock. A groom hurries to his wedding, e Island
with a fellow traveler. 1 ‘PG-13' (CC)

* % & IDLEWILD ( }
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6:30) * x DOC-|Entourage Dra-_ [Flight of the
/HBO-E |TORDOLITTLE |marekindlesa |Conchords
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| G5) 44
'HBO-P SOMETHING Jean-Louis, Godfrey. Two large women look for love.
NEW (2006) 1 | 1 ‘PG-13' (CC)
/'HBO-W Levesque, Emma Roberts, Two
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| (:15) % % RUMOR HAS IT ... (2005, Comedy) Jen-
| HBO-S _|nifer Aniston. A woman stumbles onto a family secret
about her heritage. ( ‘PG-13' (CC)
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: _ + & ACCEPTED (2006, Comedy) Justin Long,
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foreate a fake university. ( ‘PG-13' (CC)
| 6:45) * &% DU-
| SHOW ‘|ANE Hopwoop
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* x HOUSE OF WAX (2005, Horror
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urderous twins entomb their victims in wax.

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eavy nanny. 1 ‘PG-13' (CC)

a Romance-Comedy) Steve ,
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) Elisha Cuthbert, Chad Michael





Bae * & & DIRTY DANCING (1987, sass Jennifer Grey, Patrick |Weeds “Mrs.
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instructor. 1 ‘PG-13' (CC)



| ~ | *; THE

EXT BEST



_{THING (2000)



* * THE BIG WHITE (2005, Comedy) Robin
Williams, Holly Hunter. An indebted travel agent tries to

commit insurance fraud. ‘R (CC)



(: ue) * & INTO THE BLUE (2005, Adventure) Paul
Walker, Jessica Alba, Scott Caan. Four divers cross
paths with drug smugglers. 1 'PG-13' (CC)








Weeds Nancy
and Conrad fear

i
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}

MONDAY, JULY 2, 2007, PAGE 13B

DEAD

MAN



let Charlie the e
Bahamian Pu pet and By
his sidekick Dek put g

Some smiles ON your

kids’ S faces.

&



Bring your children to the

McHappy Hour at McDonald's in
Marlborough Street every Thursday
from 3:30pm to 4:30pm during the
month of July 2007.

Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it


ee

PAGE 14B, MONDAY, JULY 2, 2007









CUOK, WE'RE

Al (PAW co Leet Here ®
LOST AND ff ie Wires KEEP GOING---
NEED WF > EY) YOULL RLIN RIGHT
DIRECTIONS fy =a) INTO IT!
BACK TO THE me
METRO }

TRANSFER
STATION!
















YOUR INEPT, SHIFTLESS, LAZY,
GOOD-FOR-NOTHING WORK |S

>, @ RAVING MADI!!







ITS ONLY
ABOUT A 15-
MINUTE WALK!

HE LOVES ME...
















BOSS, WHAT ARE YOU
TRYING TO SAY?



AND DON'T TALK
TO ANYONE... JUST

\_ KEEP WALKING!)

(©2007 by Non America Syndicate, inc. wona ngnta reserved.

LOST IN TAE- FOG «0












“REMEMBER THAT MONSTER MOVIE YOUTOLD ME NOT
TO WATCH CAUSE IT WOULD GIVE ME NIGHTMARES?

West dealer.

Foresight Is Rewarded

THE TRIBUNE BUSINESS

WELL, LETS CHECK MY
OUR SCHEDULE



make the contract.

He finessed the queen of hearts at
trick one and cashed the ace, discard-
ing a club. At this point, most declar-
ers would probably lead a low trump
from dummy, hoping to lose only
one trump trick and two clubs and so

But this approach would not have
met with success. West would win
the king of spades with the ace and
shift to the K-10 of clubs, won by
East with the queen. A third round of
clubs would then render South help-
less. If he ruffed low, West would
overruff with the nine; if he mffed
with the queen instead, West would
discard and eventually score the set-
ting trick with the nine of trumps.

Fazli wisely foresaw: that this
might occur if he led a spade at trick

Both sides vulnerable.
Ves = NORTH
qu E 4102
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WEST EAST make four spades.
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SORRY, MAN...LJUST HEARD SIENNA BOBBY ARNOLD IS 84
DUMPED YOU FOR POTTY-TRAINED #172
BOBBY ARNOLD YEAH. SHE SAID The bidding:
SHE. WANTED West North East South
SOMEONE MORE 1y Pass 39 Pass
49 Pass Pass 4%
Dble










PONGRESS

NILEYE How -SEcn TUR .COPN

TIGER

AM BIRTHUAY: ¥
\S NEXT WEEK,



CRYPTIC PUZZLE

(©2007 by Marth America Symiicate, lec. World rights reserved.





The NICECT TING

WW. VCOMCS, COW,



WIERYO'ot

DIST, FY UNIVERSAL OBST SYNOD CAT L-

(C2007 by King Fecnures Byrcéoate, Inc. World rights ronerved.



















Opening lead — four of hearts.

This deal occurred during the
1984 World Team Olympiad in the
match between Pakistan and Ger-
many. It features a play that is sel-
dom seen in actual practice, although
the opportunity for it arises more fre-
quently than is generally realized.

Declarer with the South hand
was Jan-e-Alam Fazli of Pakistan.

His out-of-the-blue four-spade bid
WELL... was intended primarily as a sacrifice
AT LEAST against four hearts. But when West
Ke NEVER led a heart and the surprisingly
RAN For

strong dummy came’ down, Fazli ~

tealized he had a genuine chance to

a \- i= eee

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

ending in “s”, no words with initial capitals and no
words with a hyphen or apostrophe permitted. The
first word of a phrase is permitted (e.g. inkjet in

inkjet printer).

TODAY'S TARGET
Good 15; very good 22; excellent 29.
Solution tomorrow.



three, so instead he led the eight of
hearts and discarded the seven of
clubs on it!

This immaculate play effectively
severed the defenders’ communica-
tions. After winning the heart, West .
led the K-10 of clubs, declarer muff-
ing East’s queen. Fazli then finessed
the queen of diamonds and returned
a low'spade.

West took the king with the ace
but could do no better than return a

‘diamond. Fazli won with the ace,

cashed dummy’s ten of spades and
muffed a diamond. The queen of

Spades then drew West’s nine, and

the doubled’ contract came rolling
home.

oncer ounce

URAGE garcon grace

nacre narc narco ocean ocrea once

Tace racon unco

e conger core corn

€ crag crane crone cure

earcon ecru encore ENCO

acne acorn acre arco cage cane canoe care careen

cargo cere cone conga cong
. cornea cougar courag

YESTERDAY'S SOLUTION



CALENDAR AND SEE WHAT





‘} comes to a big decision. Work rela-



TODAY SAYS, “DO NOTHING.” -
SOQ DOES TOMORROW, AND
EVERY OAY AFTER...ALL THE
WAY THROUGH THE END

OF AUGUST.

(© 1982 Watterson/Distriovied by Universal Press Syndicate



am... — . =

a

Pe ee LL

= x

MONDAY, %
JULY 2, 2007 |
ARIES — Mar 21/Apr20. >}

You’re feeling a bit disconnected,?
from the world lately, Aries. It’s»?
nothing to worry about. You just need’. j
some time alone and then you’ll reac-" 4
quaint yourself with the status quo.

TAURUS — Apr 21/May 21”
It’s best if you curb your sudden *
feeling of aggression, Taurus. You |;
can put the energy to better use. #
Make a list of things to do and get.
to work, #

GEMINI - May 22/Jun21 4
Write a thank you note to someone .|
who has done you a favor lately,
Gemini. It is best if you try to rékin- ~
dle former friendships. A valuable “
one needs to be reinforced this week. â„¢

CANCER - Jun 22/Jul 22 4
Time and distance are no match for *}
Cancers who work their extensive con-”
nections. You are definitely a person”)
who knows how to network. Your #
smile proves you’re on fop. : , i
LEO — Jul 23/Aug 23 “a
‘In a clash of wills this week, Leo,’
you will come out the loser. Your #
opponent has so much power that a *
fair fight is impossible. Walk away
with your head high.

VIRGO - Aug 24/Sept 22
It’s a rare day when you have all of
the answers, Virgo. It’s best if you .
seek the advice of others when it

2's

~

tions improve.

LIBRA - Sept 23/Oct 23
You can’t find a system that caters ,
solely to your needs, Libra. You
have to admit that sometimes
things won’t go your way. Keep ‘
activities simple this week.
SCORPIO - Oct 24/Noy 22
Your senses are alive, Scorpio, and
you’re feeling invincible. You embark
on a path of change at work and others
are inspired to follow your lead —
with varying degrees of success.

SAGITTARIUS — Nov 23/Dec 21
Less is more this week, Sagittarius.
won’t take much for people to warr :
up to you. Consider curbing an:
spending and concentrate strictly o1
investment opportunities.

CAPRICORN - Dec 22/Jan 20
Expect positive developments in a
working relationship, friendship or.
romance, Capricorn. Actions speak

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ie es so move forward. in
Bg ACROSS DOWN AQUARIUS - Jan 21/Feb 18“
4! Nip mea Cee) 1 Tosumup, apet is something ea ale Don’t start any new projects this A ‘
og Change | mention very quickly 16 week, Aquarius. You are known.to °s
4 indeed (2,2,4) create) ’ iar ' give up on things a tad too easily *
B 8 Price ofa ring? (4) 2 On SEN BRON TD One and you already have plenty on *
U Note left fora fallow ina religious eompase (6) via ae ae your plate. 3!
: Ig ho eee : 3 It's over £50 that may be herein (4) a 19 PISCES — Feb 19/Mar 20
} house Ci 4 Beaten fabric? (7) a ee ipreal bac Te rl c Te Your world is a mix of love and adven- *:
11. Saya tress & loose (6) se 5 Jules could alvays glve you the right 24 languages of the ture this week, Pisces. Impulse runs,
E 4 14 Means of building a flying device with time (5) Celts in Ireland wild, but it never steers you wrong. +
oe no tail (3) mn 22 and Scotland Share the fun with others. /
fo ; , 6 —_ Being short, they need some urgent
as 16 Name the Tory leader with a new suit supplier (5) ; ‘
Re ‘
|"s ~ or
T ‘ : 8 Accept that it's a variety of teak (4)
_* 4 17. Atter that, figure to get out Pe er rary aaa eae CHESS by Leonard Barden a
WwW of breath (4) PMs on 4
~§ 19 Howasoft-hearted schoolgirl Acetic kisesHence.(5) e
oO 406 13 Aschool place (5) Gawain Jones v Magnus Carlsen, 4
— eae 6) ane 15. Allto give a child a name (5) el ae Gaudsal 2007. Jones, 18, is, al
Bee ape mene 18 Americans giving hotheaded boos, along with David Howell, two: J
perhaps? (5) spetaiee) ee pe ee years younger, Britain’s most aI
I 22 eae i ne oon 5 i nicest of academicians (3) promisingiteenager, The ‘_
Ni. | 23 Painter ota Yankee ina knockout . a pe ie = ranguages Suet to Wbo.200n 4
vin 4
contest (4) Se eee a ACROSS DOWN starts his university course at
Ee Cie who ran ourG canta 21 Politician taking a line from notaries, 1” Rented room(é} 1 Sausage (6) Trinity College, Dublin, has an j
Eee hae possibly (7) 7 Respectful (8) _ 2 Inclinations (6) imaginative attacking style and 4
0 Rome? (5) 22 Cable car? (3) 8 — Unaccompanied (4) 3 Stepped (4) tied third in the 2006 British a
28 Possesses not all one’s dé about racing? (6) 10 Felt (6) 4 Discussed (7) Championship. A great talent? “4
N purchases (3) coil £ Mtn Lu 11 Procession (6) 5 Exclude (5) Not by world standards. Jones's >
1 29 I thus exclude the 24 Adopts American ways (4) —l 14 Catered (3) 6 — War-horse (5) * apponent in today’s position is : |
E , 25 _Pester to get something adjusted in N 16 Weary (5) B Mild (4) still 16, but is already talked of “
i Met. line (6) “ advance (6) > 17 Rodents (4) 9 Guided (3) as rivalling the legends Bobby a rook endgame a pawn up. There y
J 30 The waya Frenchman is 26 Where to get a piano with a wrought ou 19 Satisfied (5) 12 Free (3) Fischer and Garry Kasparov as _still seems a chance for White, ;
S so calm! (6) raaaain > 21 roe a6) 13 River-mouth (5) the best of his age the world has _ since his a5 pawn is dangerous 4
Cc 31. Fairsh git? (4) kone ' o 22 Temptress (5) 15 Humped mammal (5) ever seen. The Norwegian and Rxb6? axb6 is losing for a
> 32 Friendly and sociable, nevertheless 27 Maxim of many a German (5) < 23 Wound’s 18 Soothsayer (5) already ranks in the Carlsen. Black (to play) had $
! R an , 28 Would a gopher go soft on that Lu mark (4) 19 Term of respect (3) international top 20 and was everything under control. His next 4
. ¢ leaving ( woman? (3) 26 Check (5) 20 Can (3) runner-up this year at Linares, turn seemed harmless, but when ge
QO ‘| 33 Treasurable new tune about oR : ‘ 21 Nominal (7) the “chess Wimbledon”’. When _Jones saw its implications he ;
30 Indication of ultimate 28 Friend (3) ‘
s a horse (6) Srarmionnee? (4) 29 Flower (6) 22 Thus (3) they met at Gausdal, Carlsen conceded defeat. What was j
aii 30 Salty (6) 23 Cold dishes (6) was the heavy favourite and Black's winner? /
S ‘RL I TS OE ETI EE 31 Snare (4) 24 Film extract (4) defused the Brit's attack to reach LEONARD BARDEN ‘
Yesterday‘s cryptic solutions yesterday's easy solutions 32 Island (8) ¢ by gl (6) é
W | Across: 1, Opte-d6, Cedes 9, Vinegar 10, Train 11, | ACROSS: 1, Claps 6, Style 9, Lucifer 10, Asian 11,Tease ' 33 Relaxed (6) PcmahG SSR EE, J
_ |} Poker 12, Fists 13, Re-aches 15, Me-G 17, E-LSE 18, 12, Paste 13, Pelican 15, Rot 17, Arid 18, Define 19, 28 Equal (3) ,
O 4 Sonata 19, Fr-own 20, Ideals 22, Save 24, Net 25, Sewer 20, Stolid 22, Peri 24, Yes 25, Secured 26, 30 Celebrity (4) ; : 4
w= | Cinemas 26, Stain 27, Repot 28, Attic 29, Le-gible 30, Liver 27, Stoic 28, Atlas 29, Console 30, Green Chess solution 8404: 1...Kd4! and White ae BS
‘ R _{ Steer 31, ER-ode 31, Prank because of 2 Rxe6 fxe6 3 a6 c3 4 a7 c2 5 a8QclQ+ i
my | DOWN:2, Parcel 3, E-V-ince 4, Din 5, Semis 6, C-apt-ion | DOWN: 2, Lesser 3, Placid 4, Sun 5, Milan 6, Settler 7, Kf3 Qhi+ and Oxa8. *
D 7, Eros 8, Eye-let 12, F-ears 13, Resin 14, As-set 15, Tree 8, Lesson 12, Paced 13, Pansy 14, Lidos 15, Rider °
Madam 16, Games 18, Swa-l-n 19, F-L-utter 21, Defect 16, Tepid 18, Defer 19, Silicon 21, Teeter 22, Punter 23,
'
2 tee FO ROR RE Uk RN +e tab ht

ANGUILLA _-The FirstCaribbean family is aware that to

nurture our societies, we must proudly honour



our Unsung Heroes, the extraordinary people

ANTIGUA & BARBUDA | who quietly make a difference and enrich our oe

St. Vincent & the Grenadines - 2006 HERO

Care of the Youth and Elderly .

Jestina Charles has worn many hats in her

lifetime — theologian, teacher, counsellor,

seamstress, homemaker and foster mother, in |

more than 50 years of helping people. She is «
a a “renowned for her assistance to the elderly and

make our communities ane countries better. . JESTINA CHARLES for administering feeding programmes for

me : pitied : a | (centre) over 30 years and has taught for many years
ne oon at various primary schools in St. Vincent.

communities. We must support their causes to.
_ which they selflessly devote their lives, and

THE BAHAMAS acknowledge the sacrifices they have made to.



; We are now accepting nominations for the 2007
BARBADOS ass
_.-FirstCaribbean Unsung Heroes. Let’s recognise he ie Ge
on dg ae - St. Lucia - 2006 Regional Runner-up
- Extensive Work with the Youth and
Elderly
Laura Collymore is a retired school teacher,
mentor, counsellor, caregiver, town clerk and.
humanitarian who has been actively serving
j the fishing village of Laborie and its environs
iB ape wud AMGOLRRAN (Olam for the past 30 years. She is a founding
and the impact it has had on your community. (centre) member of Club 60, a group devoted to
aa BT ae eel engaging the elderly in activities.

the Unsung Heroes among us and help give

_ their causes the recognition they deserve.
anya a Sentra 2S ea

Send us your nomination describing their work _



BRITISH VIRGIN ISLANDS bias “ie tae ae eae
Nomination forms are available at FirstCaribbean

The Bahamas — 2006 Regional Runner-Up

Care and Support of the Hearing

Impaired

For the past 15 years, Marvin Finlayson has
- devoted his life to reaching out to the

hearing impaired. At the tender age of six,
amet thas »j _he took ill with meningitis, which left him

ie 1891 MINGWAINMAINIENAXOININ leaf. He became the first deaf person to
Rte FirstCaribbean Unsung Heroes 70R G Bagi tf ou wine ag w@taduate from the College of The Bahamas.
at aye ees Marvin is oné ‘of the founding members of

c/o Local Co- ordinator The Bahamas Deaf: Sports Association.

branches and on our website at
www.firstcaribbeanbank.com

Nomination forms should be addressed to: |

THE CAYMAN ISLANDS



FirstCaribbean International Bank:

FirstCaribbean Financial Centre a JP Ie Sages «St Oa ie ‘
ae , eu i Ee m™ | jamaica—- 2006 Regional Commendation

2nd Floor © ~ Community & Social Worker

‘Shirley Street

DOMINICA

Fabian Mitchell, 34, is living testimony that
hope is alive and well with the youth in our
~ region. He established the Cross Roads
Foundation, has worked voluntarily in the
inner-city communities of Kingston, and also —
started a remedial programme for street boys
sree SAne in the Jones Town community that became a
Nominations must be received by July 28, 2007. | model of a rd programme in another
ee, ey area in the city.

Nassau, Bahamas
GRENADA & CARRIACOQU ;



JAMAICA and may be posted to the address above or

delivered to a FirstCaribbean branch near you.

ST. KITTS & NEVIS ee.
GUIDELINES - Nominees must:
¢ Be an individual or group, ‘dedicated beyond the © :

Para ordinary towards social improvement

e Be willing to have their cause profiled in the local .
and regional media :

e Be a regionally focused person or team
eine. e Not have a high media profile |

¢ Be a Caribbean citizen/resident for at least five years

¢ Be apolitical : oe eres
ST. VINCENT'& ¢ Not seek to directly promote any religious movement

THE GRENADINES , :

TRINIDAD & TOBAGO

FIRSTCARIBBEAN

INTERNATIONAL COMTRUST
FOUNDATION LIMITED

TURKS & CAICOS ISLANDS



ENRICHING OUR COMMUNITIES. TOGETHER.

Www.fitstcaribbeanbank.com

Le
PAGK 100, WWNWAT, UULT 2, 2UU/ [HE |RIBUNE BUSINESS

| a ce with your ica et
Business and see wig working tog eter can do. for you

& Scotiabank’







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