Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

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

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Full Text


Yolunie: 103 No.196





| gem PARTLY TO
See MIST SNA





BTC CEE Ts
1,000 acre hotel project

SEE FRONT PAGE OF BUSINESS SECTION

that Malcolm Adderley



may switch allegiance

@ By PAUL G TURNQUEST
‘Tribune Staff Reporter

MANY senior PLP officials
fear that PLP MP Malcolm
Adderley may soon announce
that he has switched his allegiance
to the governing FNM after
agreeing to remain chairman of
the Gaming Commission, sources
have revealed.

Mr Adderley has reportedly
agreed to stay on“as«chairman
after meeting with PLP leader
Perry Christie Monday night. Mr
Adderley, sources claim, has been
assured that he will.be promoted
to an executive chairman’s posi-
tion that should bring an increase
in salary from the normal chair-
manship of about $25,000 to any-
where in the region of $65,000.

Chief Councillor
claims the FNM is

committing ‘biggest |

act of political
victimisation in
local government’
@ By BRENT DEAN

ibune Staff ioe ;
Tribune Staff Reporter : Minister of Foreign Affairs Brent

THE Chief Councilor for the : :
Hope Town District Council is } asepet tects oe Frederick
alleging that the Ingraham gov- : Ser at ita Ma acai
ernment is in the process of } :

committing the “biggest act of
political victimisation in the his-
tory of local government.”

Jeremy Sweeting lashed out :

at government yesterday at a

SEE page nine

However, it is understood that
the generating force behind the
ofter by Prime Minister Hubert
Ingraham to Mr Adderley would
be to ensure that the remaining
Senate seat, which has yet to be
announced, would remain with
the FNM.

Therefore, if he switched sides
the FNM would control a larger
majority in the House of Assem-
bly, thus eliminating the PLP’s
chances of having any sort of
“balance” of power in the upper
chamber.

Mr Adderley was expected to
make the announcement to his
branch members last night, of
either his decision to officially
join the FNM, or to simply accept

. SEE page nine

- Senior police officer

to head ministry's
consular section

THE consular section at the

Ministry of Foreign Affairs, which
: was at the centre of an alleged

“visa scam” under the PLP gov-

ernment, will from now on be
: headed by a senior police officer.

Deputy Prime Minister and

Symonette said yesterday that the

As is practice during the usual

; running of the Ministry of For-
: eign Affairs, Mr Symonette said,
: various officers have been rotated
: and reassigned within the min-
i istry.

press conference on the poten- }'
tial firing or removal of Chris :

At the beginning of this year,
and leading up to the May 2 gen-

SEE page nine

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~ | yesterday charged

The Tribune

Che Miami Herald

BAHAMAS EDITION

| @ 28-YEAR-OLD
Jermaine Russell
appeared in court

with murder
(Photo: Tim Clarke/
Tribune staff)

@ By NATARIO
McKENZIE









A MAN, 28, of
Pinewood Gardens was
arraigned in Magistrate’s
Court yesterday, charged
with the murder of 18-
year-old Mardio Hall.






murder victim for the
year, was shot and killed
at the racing tracks at the
Queen Elizabeth Sports
Centre last week..Hall
had recently graduated
from the CV Bethel
Senior high School.
Jermaine Russell, alias
“Timer”, was arraigned
before Chief Magistrate
Roger Gomez at Court
One, Bank Lane, yester-
day afternoon on the
charge of murder. Russell
is represented by lawyers
Tamara Taylor and Mur-














SEE page nine



WEDNESDAY, JULY 18, 2007




Hall, the forty-third |.

Christie’s
political future
‘depends on

election court’

@ By BRENT DEAN
Tribune Staff Reporter

THE political future of the
PLP’s leader depends solely
on the election court chal-
lenges, a party insider told
The Tribune.

The source, speaking on
condition of anonymity said
Mr Christie will stay on in
case government is changed
by the election court cases, or

- if the prime minister calls an

election to avoid the loss of
government.

However, the source said, if
neither of these events occur,
there is no chance that Mr
Christie will stay on and lead
the PLP into another election
five years from now as the
party is uniting behind Dr
Bernard Nottage as the next

SEE page nine








using judiciary ‘as

scapegoat for wider :

social problems’
mi By ALISON LOWE '

Tribune Staff Reporter

THE executive is using the
judicial system as a politically :
expedient scapegoat for wider :
social problems as there is lit-
tle evidence that there is a :
“backlog” of cases, claimed
the president of the Bar Asso-

ciation yesterday.

Wayne Munroe alleged the :
significant numbers of per- :
sons who are being granted :
bail, supposedly as a knock- :
on effect of a judicial bottle- :
neck — a subject of con- :
tention in light of rising mur- :
der rates — in fact has much
more to do with an unwilling- :
ness'on the part of the Attor- :
ney General’s Office’s to try :
cases that are. likely to lead ;

to an acquittal.

SEE page 11



Claim that executive -



Hee double
shooting

@ By TANEKA THOMPSON



THE country’s alarming mur-
der count rose to 46 on Tuesday
morning in what many are call-
ing the “number one problem”
facing the Bahamas today.

According to a statement
released by Chief Supt Hulan
Hanna, at -approximately
4.30am on Tuesday, a double
shooting occurred in the area
of Cowpen Road and Faith
Avenue, resulting in one casu-
alty.

“Officers responded and
there they saw two male Haitian
nationals with gunshot injuries
to the lower half of their bod-
ies,” Mr Hanna told The Tri-
bune on Tuesday morning. One
of the men has been identified
as Remilite Alcinor, 49.

The victims were taken to the
Princess Margaret Hospital for
treatment. The initial reports
from hospital personnel indi-

' cated that the injuries both men

received were “not life threat-
ening.”

At around 7am on Tuesday
however, the other victim, 27-
year-old resident of Cowpen
Road, died of gunshot injuries
to. the groin area. Police have’
identified him as IIndtha Pas-
cal,

SEE page nine

Bishop Randy
Fraser trial
adjourned for
a final time

THE trial of Bishop Randy
Fraser was adjourned for a final
time as witness testimony in the
matter is nearing an end.

Yesterday Magistrate Mari-
lyn Meeres, who is hearing the
case, adjourned the case to Sep-
tember 25. Fraser was initially
charged in April 2006 with hav-
ing unlawful intercourse with a
girl 17, who was a dependent.
The trial began in July 2006.

Fraser is represented by
lawyer Wayne Munroe. Inspec-
tor Don Bannister is prosecut-
ing the case. Yesterday two
DNA experts from the United
States as well as two local police
officers were again called to
give brief testimony in the mat-
ter.

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PAGE 2, WEDNESDAY, JULY 18; 2007

THE TRIBUNE



LOCAL NEWS

ee ee
New carrier to provide ‘ more

t

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Although
Grand Bahama is losing a
major airline in September with
the departure of Air Tran, a
new carrier is expected to
replace it with a more exten-
sive service.

After seven years, Air Tran
Airways is discontinuing its dai-
ly non-stop services to Grand
Bahama from Atlanta, and
Baltimore. David Johnson,
deputy director of Tourism,
said the airline will stop ser-
vices to the island effective

September 2.

He explained that the airline,
which operated alongside the
Delta service, has not been
making a profit from the
routes, which commenced in
November 2000.

While Mr Johnson did not
identify the new carrier that
will be introduced, he stated
that the number of new seats
and number of gateways will
surpass. the service that Air
Tran provides to Grand
Bahama.

“We see this as a stronger
service that will ensure that. the
capacity we need for Grand

Bahama is maintained and, in
fact, grows above the level with
Air Tran,” he said.

Services

Mr Johnson stated that Air

Tran has been hesitant to com-
pete with Delta, which is a
much larger carrier.

The other airlines that

- presently provide service to

Grand Bahama are Continen-
tal Connection, US Airways,
United Airways, and Ameri-
can Eagle.

Tourism officials are work-

ing feverishly to revive tourism
in Grand Bahama, which is
operating with a 30 per cent
decline in hotel rooms.

The industry is struggling as
latest tourism statistics reveal
that total arrivals to the island
were down 26.5 per cent during
May 2007, compared to the
same period last year.

According to statistics, a
total of 52,039 visitors came to
Grand Bahama in May, com-
pared to the 70,777 arrivals
recorded for the same month
last year.

Tourism figures for air
arrivals were down by 3.1 per

extensive’ service to GB

cent, and cruise arrivals were
down by 34.7 per cent in May.

There were 17,785 arrivals
by air compared to the 18,351
for the same period last year,
and 34,254 sea arrivals com-
pared to the 52,426, in May
2006. :

The closure of the Royal
Oasis Resort is a major con-
tributing factor in the decline of
tourism in Grand Bahama.

The 900-room resort closed
in 2004 due to severe hurricane
damage.

The Harcourt Group is
presently in negotiations to pur-
chase the resort and reopen it.

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Over 200 Haitians
- caught in last week
in Bahamian waters



@ HAITIAN nationals onboard HMBS P-42 shortly after their
arrival at the Coral Harbour. Base early Tuesday morning.
The 70 suspected illegal immigrants were apprehended off
Warderick Wells Cay by Defence Force Marines.

MORE than 200 Haitians
have been apprehended in
Bahamian waters within the
past week according to
Defence Force officials.

‘-sy@nte 'incident'took place on

Monday. night when HMBS
P-42 intercepted a Haitian
sloop in the Exuma Chains
carrying 70 Haitians who are
‘suspected of being illegal
immigrants.

While on routine patrol just
before 10pm, the Defence
Force patrol craft, under the
command of Chief Petty Offi-
cer Whitfield Rolle, spotted
the overcrowded vessel 12
miles west of Warderick Wells
Cay.

A further investigation of
the vessel uncovered the
migrants (64 men, five women
and one child), who all
appeared to be in fair health.

“Because of the unsanitary
and overcrowded condition of
the Haitian sloop, they were
all embarked onboard the
Defence Force vessel and
brought to the Coral Harbour
Base shortly after 3am Tues-
day morning,” said the

Defence Force in a statement.
“They were eventually turned
over to Immigration officials
for further processing.”

Last week Thursday, 38



Haitians were apprehended
off Pipe Cay in the Exuma
chains and brought to the cap-
ital.

A third group of Haitians
was intercepted in Bahamian
waters on Tuesday morning.

According to the Defence
Force, a Haitian fishing ves-

' sel vas spotted carrying an

undetermined number of sus-
pected illegal immigrants in
the Exuma Cays.

HMBS P-42 was dispatched
to the scene. Crew members
apprehended the passengers
of this vessel, which was also
overcrowded, 16 miles west of
Ship Channel Cay.

Onboard were 81 men and
17 women, who all appeared
to be in fair health, the
Defence Force said.

“Due to the conditions of
the Haitian sloop, the
migrants were all embarked
onboard the Defence Force
vessels, P-42 and P-43 which
will transport them to the
Coral Harbour Base this after-
noon,” said yesterday’s state-
ment. The estimated time of
arrival was 4.45pm.

More than over 600 Hait-
ian Nationals have been
apprehended in Bahamian ter-
ritory by Defence Force offi-
cials so far in 2007.

SOME of the 70 Haitians at the Defence Force Base after
they were apprehended off Warderick Wells Cay late Mon-

day night.

(Photos: RBDF Leading Mechanic Kevin Roberts)

ne.





—O In brief

Cuba blasts
United States
for issuing
visas too slowly

@ HAVANA



CUBA chided the United
States on Tuesday for being too
slow to issue visas to Cubans
wanting off the island, according
to Associated Press.

The Foreign Relations Min:
istry indicated the dearth of visas
for Cubans could be part of, what
it sees as US President George
W Bush’s efforts to destabilise
the communist government and
warned it could lead to a spike in
illegal immigration.

Under a 1994 agreement,
Washington uses a lottery sys-
tem to grant up to 20,000
Cubans permission to emigrate
to America each fiscal year end-
ing September 30. But Cuba’s
government said Tuesday that
through June 30, only 10,724
Cubans had been granted visas
— just 53.6 per cent of the annu-
al minimum.

“It is evident a considerable
delay exists,” the ministry said
in a statement published on the
front page of the Communist
Party newspaper Granma.

“Why would (the United
States) want to make the migra-
tory situation worse between
both countries?” the statement
asked, accusing Bush of wish-
ing Fidel Castro would die and
being desperate to “force the
‘changes’ he wants to impose
on Cuba, even when they give
rise to a situation of instability
that will surely also affect the
United States.”

Castro, who turns 81 next
month, has not been seen in
public since announcing that
emergency intestinal surgery was
forcing him to step down in favor
of a provisional government
headed by his younger brother
Raul. Life on the island, howev-
er, has remained little-changed.

The US and Cuba do not
have formal diplomatic relations
but maintain interests sections -
instead of embassies — in each
other’s territories. A spokesman
at the US Interests Section in
Havana could not be reached
for comment Tuesday.

It is not unusual for US
authorities to wait until close to
the end of the fiscal year to
issue the minimum number of
Cuban visas, however, and thé
US State Department has in the
past acctised Cuba of manipu-
lating the process.

Some Cubans who get US
visas are denied exit permits by
Havana, which arbitrarily
deems them “defectors,” the
State Department says. Cuba
also regularly refuses to allow
doctors and other medical pro-
fessionals to leave even if they
have visas.

The US further claims that
Cuba collects an estimated
US$12 million per year in fees
for exit permits and medical
examinations that some US-
bound migrants have difficulty
paying.

A US policy that grew out of
the 1994 immigration agreement
is the so-called “wet foot/dry
foot,” where by Cubans who are
interdicted at sea are generally
returned to their homeland,
while those who reach US shores
are usually allowed to stay.

Cuba says the policy encour-
ages its citizens to seek risky
and illegally ways to emigrate.
Thousands of Cubans attempt
to leave the island on makeshift
rafts or people smugglers’
speedboats bound for America
every year.

The Foreign Ministry went on
to “insist” that the United States
issue at least 20,000 visas before
the deadline, scrap “wet-foot/dry
foot” and “cease the manipula-
tion of this topic for political
ends”. It also demanded that
Washington, “end the incessant
subversive propaganda and psy-
chological war against Cuba”.

The

-Way
Test

of things we
think, say or do

1.|s 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



THE TRIBUNE





9 In brief

Aircraft stolen
from Andros
discovered

by police

THE aircraft stolen from an
airport in Congo Town, Andros
on Monday has been located in
Crooked Island.

Acting on information
received from unidentified tip-
sters, police found the twin
engine, 1969 Aztec Piper in
good condition.

" Chief Superintendent Hulan
Hanna told The Tribune that
no drugs or drug parapherna-
lia were found on board the air-
craft and police have not uncov-
ered a motive behind the theft.

Police are continuing their

investigations into the matter.

Police
investigate
gun damage
to house

POLICE received informa-
tion of “damage by gunshots” to
the home of a resident of Eola
Avenue, off Poincianna Drive.

According to Chief Superin-

tendent Hulan Hanna, the com- .

plainant, Alfred McKinney, told
police that at around 11.50 am,
he heard four to five gunshots
outside his home.

Upon inspection, he discov-
ered that there was “gunshot
damage to the southern bed-
room window” of his house.

Fortunately, no one sustained
injuries during the shooting, Mr
Hanna said.

Police are following signifi-
cant leads into the matter and
are hopeful that they can bring
some “resolution” to the inves-
tigation very soon, he said.

DEA agents
arrest former
Haitian rebel
leader

@ HAITI .
Port-au-Prince

US Drug Enforcement
Administration agents arrested
a former rebel leader and pres-
idential candidate with alleged
ties to drug traffickers, Haitian
radio reported, according to
Associated Press.

US and Haitian officials
declined to comment on the
Radio Metropole report, which
cited eyewitnesses who said offi-
cers swooped down Monday in
helicopters on the home of Guy
Philippe, who helped toppled
former President Jean-Bertrand
Aristide in 2004.

Earlier, both Metropole and
Radio Vision2000 reported that
foreign-looking agents searched
Philippe’s home in the south-
ern coastal town of Les Cayes
but found only his wife.

Metropole said later that the
former rebel leader was cap-
tured in Les Cayes by DEA
officers, but the station cited no
source and gave no details on
the status of the 39-year-old for-
mer police commander who ran
for president in 2006.

Oscar Negron, a spokesman
in the DEA’s Miami Office,
declined to comment. when
reached by phone late Monday.
The DEA has in the past assist-
ed in arrests in the Caribbean
nation in conjunction with local
authorities.

Haitian Foreign Minister
Renald Clerisme said he did not
know anything about the inci-
dent. An employee who
answered the phone at the US
Embassy also declined to com-
ment, and calls to the embassy
spokesman were not immedi-
ately returned.

Philippe was the police chief
of Haiti’s second largest city,
Cap-Haitien, but fled the coun-
try in 2000 after being accused
of plotting a coup. He returned
in 2004 to help rebels topple
Aristide in a three-week upris-
ing.
Aristide called Philippe and
other rebels “terrorists,” and
accused them of ties to drug
traffickers who use Haiti and
the neighboring Dominican
Republic to reach the US.

Human Rights Watch says
that while Philippe was police
chief in the Port-au-Prince sub-
urb of Delmas from 1997 to
1999, dozens of suspected gang
members were executed by
police under the command of
his deputy.

TROPICAL
EXTERMINATORS

Me LTE
PHONE: 322-2157



PLP Chairman Raynard Rig-
by attacked Minister of Nation-
al Security Tommy Turnquest
yesterday for what he described
as Mr Turnquest’s “cavalier
and insensitive” approach to
the country’s current murder
rate.

“J, like every other consci-
entious and concerned citizen
of the Bahamas, feel repulsed
and aggrieved by the admission
of helplessness and the absence
of an immediate and sustained
and focused plan by the FNM
and the minister for National
Security, the Honorable Tom-
my Turnquest, in arresting the
dangerous and_ volatile
instances of vicious murder
now almost a daily occurrence
in our country,” he said.

The PLP chairman said that
Mr Turnquest seems to have
“thrown his hands into the air
in concession and defeat with
some foolish and indecent com-
ment that in the middle of Sep-
tember we will begin to do
some new things, to curb vio-

LOCAIL NEWS

DETR a
PLP chairman slams delay in

WEDNESDAY, JULY 18, 2007, PAGE 3



initiative to tackle murder rate

Rigby claims to feel ‘repulsed and aggrieved’ at Turnquest comments



lent crime”.

Mr Rigby said that like all
concerned Bahamians, he won-
ders if Mr Turnquest is aware
that to date there have been 46
murders — and at this rate, “lby
the time we reach the middle of
September many more of our
young men may be victims of
vicious and senseless crimes.

“This state of affairs is just
unforgivable. As a concerned
Bahamian I demand a forth-
right apology from Minister
Turnquest for his cavalier and
insensitive approach to this
national malady.

“Mr Turnquest needs to
know that the Bahamian peo-
ple who are paying him a miin-
ister’s salary every month c.an-
not afford for him to get
through his summer vacation
to deal with this issue, soine-
time in the middle of Septem-
ber,” the PLP chairman said.

l@ RAYNARD Rigby

Mr Rigby said that whether
Mr Turnquest realises it or not,
he has confessed and openly



admitted that the “bogus and
preposterous” claims he and
his FNM colleagues made dur-
ing the general election cam-
paign about their readiness for
office and their readied plans to
deal with crime were nothing
more than a “vote-getting gim-
mick”.

Responsibility

He said that now, faced with
the awesome responsibility of
putting an FNM plan into
action, Mr Turnquest has
become known as the “wait
until the middle of September
minister”.

“We in the Progressive Lib-
eral Party are highly offended
by Mr Turnquest’s indifference
to serious crime and his admis-
sion that he has no plan to
address the issue at hand.

“We too, like every other cit-
izen, call on the FNM to pre-
sent the plan which they so
fiercely touted and proclaimed
on the general election stump,”
he said.

The PLP also pointed out
that Mr Turnquest led the
“politically motivated charge”
against the “highly successful”
Urban Renewal community
offices.

“The PLP demands that the
FNM government get serious
about the real issues con-
fronting this country, rather
than the sleazy, deliberate and
nasty acts of victimisation they
are now perpetuating on gov-
ernment ministries, public offi-
cers, legitimate contractors and
Bahamians who have a right to
be gainfully employed in the
Bahamas, regardless of their
political persuasion,” Mr Rigby
said.

PLP youth wing backs Ken

@ By BRENT DEAN
Tribune Staff Reporter

ONE of the youth arms of
the PLP has officially endorsed
Ken Dorsett to be the new
chairman of the party.

Keenan Johnson, vice-chair-
man of the Young Liberals, told
The Tribune of his groups deci-
sion yesterday in an interview.

“We believe that he is a
youth orientated person. We
have spoken to him on numer-
ous occasions, and he has been

willing to support us, and he .

has been supporting us finan-
cially and physically for the
past year,” he said.

Mr Johnson said he would

: regard the selection of Mr

Dorsett as chairman as a step
ahead for the party in terms of
reaching out to the youth, and
he said that the young liberals
have already advised Mr
Dorsett that he can expect

their support if he decides to

join the race.
“He is a man who knows
what the youth need and he



Bi KENRED DORSETT
(Photo: T Aylen)

knows the importance of the
youth in the party and in the
country. And as a result, we
are prepared to first support

’ him in his endeavor to run as

chairman of the Progressive
Liberal Party,” he said.

Without criticising the cur-
rent party hierarchy, Mr John-
son told The Tribune that he
thinks the profile of young
PLPs should increase as the
party restructures. And, he
declared that Bahamians
should expect to hear more
from the group going forward.

“As the opposition we do
intend to be much stronger
vocally and state our position
on the things that affect our
nation,” he said.

Mr Johnson explained that
the Young Liberals’ decision

to support Mr Dorsett, rather .

than Glenys Hanna-Martin, is
in no way a criticism of her

‘ candidacy.

“We have no problem with
Ms Hanna-Martin," he said.
"We think that she has done. a

_ great job as minister.”

Mr Johnson also indicated
that his group will not be afraid
to comment on the more con-

troversial deputy leader and -

leader positions, should they



Cuban ambassador bids farewell



@ AMBASSADOR of the Republic of Cuba Felix Wilson
made a farewell courtesy call on Minister of Education,
Youth, Sports and Culture, Carl Bethel on Monday at the
Ministry of Education, Youth Sports and Culture on

Thompson Boulevard.

(BIS photo: Raymond Bethel)

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“Cushions

be contested.
“When the time is right, and
when we have seen the persons

and spoken to the persons who

are interested, we will make a
public statement as to who we
support. But as for now, we will
remain quiet on that issue,” he
said.

orsett

The young liberals consists of
more than 150 members, and is
considered a training ground in
the PLP for young aspiring
politicians.

Ms Hanna-Martin is the only
publicly declared candidate for
the chairmanship of the PLP
thus far.

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e-mail: www.colesofnassau.com ¢ P.O. Box N-121







THE TRIBUNE

and

PAGE 4, WEDNESDAY, JULY 18, 2007





TO TH EEDITOR

Immigration

EDITORIAL/LETTER

The Tribune Limited

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

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

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Freedoms not linked to the PLP

IN THIS column yesterday we discussed what
Senator Dion Foulkes claimed was a “mali-
cious” and “vicious” attack on the FNM, its
present leadership and “more seriously, the
founders of the FNM” by Senator Allyson May-
nard Gibson.

The attack was made last month — the
month in which the Bahamas’ independence
was celebrated. At that time Mrs Gibson decid-
ed to separate the sheep from the goats when it
. came to who supported independence for the
Bahamas. According to Mrs Gibson the PLP
were the champions of the Bahamas’ separation
from Britain, while the founders of the FNM
were not.

What she failed to realise was that in the
early days of the independence debate, her own
party leader, the late Sir Lynden Pindling, was
against the proposal, while many of the FNM’s
founding members supported it.

Anyway, independence eventually came
under the PLP banner with the late Sir Cecil
Wallace Whitfield, one of the Dissent Eight
and a founder of the FNM, against it. He was
against it not because he had a change of heart
on independence, but, like so many Bahami-

ans, he did not want independence under the

victimising yoke of the Pindling government.

In defending his party, Senator Foulkes
reminded Senator Gibson of two other issues —
the equality of Bahamian women and Bahami-
ans’ rights to move freely in their own country.

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

Although these men were not able to con-
vince the British government to give full equal-
ity to Bahamian women, they did persuade
them to stop the PLP from forcing Bahamians
to remain on whatever Out Island they were
born.

The idea that freedom of movement in one’s
own country would even be questioned will sur-
prise many of today’s freedom-loving young
Bahamians. Many were the battles in those days
for the freedoms that today’s generation take for
granted.

It ig fascinating to thumb through old files,

recall the behaviour of and political positions -

taken by today’s politicians in their younger
days and see how far they have come and what
positions they hold in today’s Bahamas.

For example under the heading “Hanna’s
lack of compromise seen as dictatorship move
— Deputy PM wanted to have citizens barred
from leaving country”, The Tribune of January
5, 1973 reported:

“Had Deputy Prime Minister Arthur Hanna

had his way at the recent constitutional talks,
Bahamians could have found themselves after
independence, barred from leaving the country
or restricted in their movements within it.

““Mr Hanna would have given us a constitu-
tion that would have put us into a dictatorship
right away,’ one delegate was reported as saying.

“Although government and Opposition del-
egates have made no specific comment on the
proceedings at the London conference, several
have privately remarked on Mr Hanna’s out-
right refusal to entertain any compromise on
any of the issues.

“One of these related to the guaranteed free-
dom to enter and leave the Bahamas.”

If Mr Hanna had had his way, Bahamians
would have been like Cubans fleeing the coun-
try at dawn or after nightfall on whatever rick-
ety piece of wood they could float.

One only has to recall the fight over the
Cuban dentists recently detained in the
Carmichael Detention Centre, and Cuba’s posi-
tion that the minds of certain of its profession-
als were Cuba’s national property, and, there-
fore, too valuable for their owners to leave the
country, to know what life would have. been
like in the Bahamas today.

Young Bahamians can only imagine the hor-
ror of the position they would be in if Mr Han-
na had won the day.

The 1973 Tribune article reports that when
the FNM delegates recommended a change;

this “provoked an outburst from Mr Hanna,
-who openly stated that the government might
“wish at a later date to restrict certain Bahamians

from leaving the country. He therefore did not
wish the freedom to leave (the Bahamas) incor-
porated into the new constitution.”

Delegates on both sides agreed that Sir Lyn-
den conducted himself “as a mature statesman”
throughout the conference, while Mr Hanna

“repeatedly threw stumbling blocks in the way

of a satisfactory settlement.”

Bahamians have the FNM, led by the late Sir
Kendal Isaacs, to thank for many of the free-
doms they enjoy today. They were backed by
the British government, which took a firm stand
on the fundamental rights and freedoms of the
individual as they were to be embodied in the
Constitution.

Today that same Arthur Hanna, considered
a stumbling block in London in the seventies, is

-governor-general of an independent Bahamas,

over a people who have the constitutional right
to move from island to island, and leave the
country at will. ;

It would be interesting to know today how
much he would still agree with the Arthur Han-
na who displayed such dictatorial tendencies
34 years ago.



development

E:‘DITOR, The Tribune.

ABACO it would seem has had
rnore of a history of the use of
irmmigrant labour than any other
island in the Bahamas. During the
colonial years workers came from
Turks and Caicos, and the Repub-
lic of Haiti to work on various
lumber and farming operations.

Many of these foreign nation-
alis, over a period of time, became
assimilated into the Bahamian
community. Certainly over the
last 30 years the immigration
changed from specific labour
importation to political and then
economic arrivals as refugees. In
these latter times the majority of
immigrants have been of Haitian
he:ritage, and in most cases have
never been allowed to achieve full
integration.

Haiti has suffered continuously
sin.ce it took its own independence
from the French. The country has
been variously shunned, ignored,
abused, and exploited by the
developed countries, never given
the: assistance, it had need of, to
bewome stabilised and self sup-
porting. It has always been con-
sidered a black pariah by the west,
never allowed to trade with the
colonial masters and occupiers.
Isclated, it has therefore had to
feed itself on itself.

“As a result of two hundred
yeairs of independence this coun-
try has depleted all of its natural
resources, and is still unable to
achieve a healthy democracy or
viable economy.

«Aid awarded, if any, has always
been self serving and indirectly
funnelled into personal bank
accounts. Yet this is one of the
mst beautiful countries of the
Caribbean, full of a richly cultured
people. Asked to describe His-
paiiola, the island where Haiti
may be found, Christopher
Columbus supposedly crumpled
a sheet of paper and threw it on
the table to demonstrate its moun-

tainous geography. Considered to .

be the poorest country, in the
western hemisphere, and with no
current prospects of realistic
de:vélopment, it is no surprise that
many ofits nationals feel the need
to move abroad in order. to sur-
vive and possibly make a better
life. Naturally the two countries
of choice also happen to be the
wealthiest, the USA and the
Bahamas. The US is much more
difficult to enter than the
Bahamas, and so many end up in
this country illegally with little
prospect of assimilation. These
imunigrants do find work, and may
even acquire a “work permit”
whiich will give them some feel-

ing; of security. However, being ©

essentially undocumented they
are unable to own land, open a
bank account, or participate in
noirmal everyday life of the
Bahamas. The result is a people
who must remain segregated from
the rest of the Bahamian commu-
nity. Because of this the immi-
grant is now susceptible to
exjloitation and abuse of accept-
ed standards of employment. The
use of cheap labour offers a ben-
efit for both Bahamian and Hait-

LETTERS

mecdianet



ian, it is also not surprising that.an
uneasy symbiosis develops, and
in Abaco, at least, a swollen illegal
immigrant population continues
to expand.

These people establish their
own communities, with their own
stores, barber shops, and eater-
ies. They build their own houses
and often build their own power
and energy systems. All illegal
and without meeting the appro-
priate code fulfillment. If they can,
they will even piggy back on a
“legal” utility just outside the
neighbourhood.

We all know the rest of the sto-
ry. This is our everyday exposure
to the immigrant population. A
people who are below the rest of
us. A people who are there to be
used and then discarded. A peo-
ple to be disdained and exploited.
A people who don’t deserve or
need ordinary human rights like
the rest of us. After all they are
illegal. Unfortunately we have
become so self absorbed we are

. unable to acknowledge the very

significant contribution these peo-
ple make to the welfare and well
being of Bahamian society. Think
about it!

But these Creole people sur-
vive-in spite of this harsh envi-
ronment we provide for them.
They manage to become estab-
lished, eat, go to church, find.a
spouse, have children, and bring
them up. They get educated by
and in the Bahamian system, and
many utilise the Ministry of
Health facilities. However most

pay their taxes, and if they do not,

it is usually because our system

. prevents them from doing so.

And now for their children, the

‘ next generation. Young people

born here in the Bahamas. Young
people who have never known
another country. Young people

-who receive an education in the

same institutions as our children.

Young people who have manners ~
and are polite, just like our chil- °

dren. Young people who want to
get a good education and then a
good job. But young people who
have no rights. We employ their
mothers and their fathers, and yet
‘we allow them no rights. No

"access to legal documentation. No

access to a higher education. No

. passports. No savings accounts.

No acknowledgment that they
exist. These young people are
prisoners in their country of birth.

Something is definitely missing
from this equation; it does not bal-
ance. But writers like Rupert Mis-
sick Jr, and Adrian Gibson have
already expressed all of this so
articulately.

Disenfranchisement becomes -

the key word in all of this. “Hait-
ian-Bahamian” as the name
implies, a refusal of the acknowl-
edgment of their birth right. They
are neither Bahamian nor Hait-
ian. We have extluded these
young people. We have taught
our own children to reject these

youngsters, even in the school sys-
tems. We have systematically
blocked every avenue they could
possibly take to improve them-
selves; to establish themselves.
We as Bahamians have disen-
franchised and excluded these
young people, and we wonder
why they are beginning to reject
us. We are terrified of the “cre-
olisation” of the Bahamas by
Bahamian-born and educated
people. We are all immigrants
here, the indigenous people were
systematically wiped out hundreds
of years ago.

It encourages me to see the
number of Creole titles that
appear in the police force, the
political scene, the professional
career groups, the teachers, the
preachers and also the ordinary
everyday walks of life. They all
continue to contribute and inte-
grate society. But the tensions
between the Bahamian establish-
ment and the lately immigrant
populous continues to build. The
frustration of those who have
managed to partake of portions
of our society are not quite as
open as those who have reached a
maturity where lack of opportu-
nity, and acceptance still exists.

Hopefully we Bahamians will
act before a serious confrontation
takes place. We have allowed this
situation to continue for too long,
only because it has been to our
benefit to do nothing. Only
because the exploitation eco-
nomically, socially, and politically
has been to our advantage. Now
the second generation has come
home; the New Bahamian is
standing on our doorstep. If we
do not open the door the New
Bahamian will.

It is time for us to deal with a
myriad -of immigration concerns
now, and not tomorrow. We must
examine the following issues.

Birthrights and citizenship.

Spousal issues when married to
Bahamians.

Bahamian women, foreigners,
and foreign born children.

Unmarried Bahamian parent-
age and citizenship.

- Illegal immigration and pre-
vention. ,

Relocation of slum areas to all
encompassing low cost housing
schemes.

Legalisation of the present ille-
gal population.

Make residency and citizenship
procedures speedier and more
efficient.

Definitive periods of residency
prior to processing.

These are just some of the areas
that need to be‘addressed effec-

tively and efficiently.

Finally I would point out that
the most effective way to deal
with the immigration onslaught
would be for the wealthy western
hemisphere to work with the
elected administration of Haiti to
build a viable economy and infra-
structure. Then the numbers
would almost disappear. Think
about it.

JOHN HEDDEN
Abaco,
2007.

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THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 5



LOCAL NEWS





Ricky Martin
fights against
trafficking on
Dominican TV

lm GENEVA

POP star Ricky Martin
will appear on Dominican
television and radio for the
next six months — not singing
or dancing but warning peo-
ple about human trafficking
and sexual exploitation,
according to Associated
Press.

“According to some
reports, more women are
trafficked from the Domini-
can Republic than from any
other country in the West-
ern hemisphere,” said Jemi-
ni Pandya of the Geneva-
based International Organi-
zation for Migration, which
is teaming up with the Puer-
to Rican singer’s charitable
foundation.

Starting Wednesday, Mar-

tin will make public service * 4

announcements for TV and
radio as part of the “Llama y
Vive” ("Call and Live")
counter-trafficking campaign
that has already done work
in Costa Rica, El Salvador,
Nicaragua and Peru.

The ads will publicise a
phone line that offers free
help and information about
trafficking. Posters and oth-
er informational material

will be distributed through- . :

out the Dominican Repub-
lic, where, according to the
IOM, both men and women
have been trafficked for sex-
ual exploitation.

The singer — whose hits
include “She Bangs,”
“Shake Your Bon-Bon” and
“Livin’ La Vida Loca” —-
started the Ricky Martin
Foundation a decade ago to
help children in need.

The IOM says Dominican
victims of trafficking are
often taken elsewhere in the
Caribbean or to Latin
America or Europe. The
organisation also has docu-
mented cases of minors traf-
ficked within the country for
sexual exploitation, usually
to tourist destinations on the
coast.

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PRIME Minister Hubert
Ingraham will participate in
CARICOM’s Heads of Gov-
ernment meeting with Canadian
Prime Minister Stephen Harper
in Bridgetown, Barbados on
July 19.

The Heads of the Caribbean
Community are expected to
meet with Canada’s leader in a
continuation of their tradition
of consultation on matters of
mutual interest and concern.

This will be the first meeting

of Prime Minister Harper with -

his Caribbean colleagues.

Prime Minister Ingraham is
scheduled to depart New Prov-
idence on Wednesday, July 18,
and return to the capitol on Fri-
day, July 20.

The prime minister will be
accompanied by the Secretary
to the Cabinet Wendell Major.

Prior to his departure, Mr
Ingraham will open the House
of Assembly debate on the
FNM government’s Speech

from the Throne during the
morning session of parliament.

Brent Symonette will act as
prime minister during Mr Ingra-
ham’s absence.

The Bahamas maintains
diplomatic relations with Cana-
da through Canada’s non-resi-
dent Ambassador based in
Kingston, Jamaica and through
the Bahamas’ High Commis-
sion based in Ottawa, Canada.

Since independence, the
Bahamas has entered into the fol-

lowing economic and cross-bor-
der bilateral treaties with Canada:

e Canada and the Bahamas
Agreement on Foreign Invest-
ment and Insurance

e¢ Commonwealth Scheme for
the Surrender of Fugitive
Offenders

e Treaty between the Gov-
ernment of the Bahamas and
the Government of Canada on
Mutual Legal Assistance in
Criminal Matters (March 1990)

e Agreement between the

Government of the Common-
wealth of the Bahamas and the
Government of Canada Con-
cerning the Council of Europe
Convention on the Transfer of
Sentenced Persons

e Agreement between the
Government of the Common-
wealth of the Bahamas and the
Government of Canada Con-
cerning the Hague Convention
of 25th October, 1980 on the
Civil Aspects of International
Child Abduction

Christian Council president says



deat

@ ByTAMARA FERGUSON’
CAPITAL punishment must

‘be enforced as an example of a

zero tolerance crime policy
according to Bishop John Humes.

The president of the
Bahamas Christian Council
made this statement yesterday
during an interview with The
Tribune.

Bishop Humes expressed
concerns about the recent mur-
ders of several teenage boys
over the last month.

“Criminal activity is a nation-
al concern in our country. Many
young Bahamian men cannot
resolve conflicts without resort-
ing to violence,” he said.

Bishop Humes said that
although the Christian Council
cannot force capital punishment
to be enforced, he intends to
continue to stress its importance

- in the country.

During an television inter-
view last week, Bishop Humes
publicly stated. his position on
the controversial issue of capital
punishment. .

He said that “hanging” must
take place to show those
involved in criminal activities,
such as murder, that they can-
not expect to take the life of
another and not have their life
taken as well. "

Bishop Humes also noted
that if this problem is not
addressed, it could threaten the

“tourism industry.” ~ tf
. However, the issue‘of.capital ©.
‘ punishment.in the, Bahamas is

a matter that-is out of the
hands of the government, as
the Privy Council in London

ruled in 2005 that the manda-

tory death sentence is uncon-
stitutional. Since then, whether
or not a convicted murderer is
sentenced to. death has be at
the discretion of the judge who

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presided over the case.

- This has led to appeals being
filed by some of the men on
death row, who are seeking to
have their death sentences over-
turned based on the ruling.

Bishop Humes also noted
that the Christian Council
intends to meet with the Min-
istry of National Security, the
police, Urban Renewal and
government officials to discuss
long term plans to address the
issue of crime in general.

He said that a national youth
service programme.is needed
to teach young people how to
settle their differences respon-
sibly. He said they should also
learn basic skills that could help
the country, such as carpentry,
agriculture and fishing, so that
Bahamians can produce their
own food.

“Young men need to become
more productive in this coun-
try, rather than doing nothing
with their lives. They must learn
to maximise their potential and

gifts which they have been giv-

en,” he said.

According to Bishop Humes,
one of the major causes of vio-
lence among young people
today is the breakdown ‘in the
structure of the family.

“This is not:a political issue. It
is a social and spiritual issue.
Parents must be diligent and
aware of the activities of their
children,” he said.

‘+ On July 8, an 18-yeayedld man
was murdered:-at- the Queen
Elizabeth Sports Centre:

This week, 16-year-old
Javano Williams became the
country’s 45th murder victim
after being stabbed to death
outside the Esso Gas Station on
Baillou Hill Road and Coconut
Road. Police say they are ques-
tioning four men in connection

with the murder — three |

4



ru

INNZNs , SON




a
P)
Tl
4

Syarvd IHSISNSLIW




teenagers aged 13, 15 and 17
and a 20-year-old.

Another 18-year-old, Elima
Soufrant of Farrington Road,

was killed last Thursday in the
area of Meadow Street and
Parker Street.

Early yesterday morning, a

penalty should be enforced

27-year-old Haitian national
died as a result of a double
shooting that took place off
Cowpen Road.

ey Fale Se meet

@ MINISTER of Works and Transport Earl Deveaux shares a light moment with his
permanent secretary, Colin Higgs, during his weekly meeting with Minister of Education,
Youth, Sports and Culture Carl Bethel to discuss contracts for building and improvement
‘works at schools throughout the Bahamas. Pictured from left are Mr Higgs, Mr Deveaux, Mr
Bethel, and Sherrylee Smith, acting permanent secretary in the Ministry of Education, Youth,

Sports and Culture.



(Photo: BIS/Tim Aylen)

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“

PAGE 6, WEDNESDAY, JULY 18, 2007

GN-531



SUPREME COURT

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division
2007/PRO/npr/00306

IN THE ESTATE of DORANE ROBERTSON
CELENTANO, late of 205 Glenmore Street in the Village
of East Williston in the County of Nassau in the State
of New York one of the United States of America,

deceased

NOTICE is hereby given that after the expiration of
fourteen days from the date hereof, application will be
made to the Supreme Court of The Bahamas, on its
Probate Side by WILLIAM P. HOLOWESKO, of Lyford
Lane, Lyford Cay, New Providence, one of the Islands
of the Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas, for
obtaining the Resealed Grant of Letters Testamentary
in the above estate granted to VIRGINIA R. HECKERT
AND ROBERT W. HECKERT, the Executors, by the
Surrogate’s Court of Nassau County, in the State of
New York one of the United States of America, on the
13th day of February 1992.

. Signed

K Mackey
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT

PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00307

Whereas, JEAN ALLEN of East Bay Street, Eastern
District, New Providence, one of the Islands of the
, Commonwealth of The Bahamas has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of

GEORGE WILLIAM ALLEN, JR., late of The Eastern :

_ Road, Eastern District, New Providence, one of the :

Islands of the Commonwealth of The, Bahamas, }
“deceased.

Notice is hereby given that such applications will be

heard by the said Court at the expiration of 14 days }
: Whereas, BERYL ANDREA WILLIAMS of 8 Benson :
: Road, Dannottage Estates, Eastern District, New :
; Providence, and SIDNEY ALEXANDER CAMBRIDGE, :
: Jr, of No. 9 Chancery Lane, Winton Estates, Eastern :
: District, New Providence, both of the Islands of the :
: Commonwealth of The Bahamas, Attorneys by Deed :
: Of Power of Attorney for.the Administrator has made :
: application to the Supreme Court of The Bahamas, for. :
i letters of administration of the Real and Personal Estate :
of MARIA RENATE KELLERMANN late of Im :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS |

THE SUPREME COURT :
PROBATE DIVISION :

No. 2007/PRO/npr/00308

Notice is hereby given that such applications will be

July 19, 2007 |

SUPREME COURT
PROBATE REGISTRY :
P.O. BOX N-167 :
Nassau, The Bahamas :
July 19, 2007 :
: of the Islands of the Commonwealth of The Bahamas,

: deceased.

Probate Division
2007/PRO/npr/00310

IN THE ESTATE of JON R. RUHLMAN, late of Shoreby
Drive in the Town of Bratenshl in the Country of :
Cuyahoga in the City of Cleveland in the State of Ohio

one of States of the United States of America,

deceased :

NOTICE is hereby given that after the expiration of :
fourteen days from the date hereof, application will be :.
made to the Supreme Court of The Bahamas, in the :
Probate Division by WILLIAMS EDGAR PILCHER of :
the Eastern Road, Eastern District of the Island of New :
Providence, one of the Islands of the Commonwealth :
of The Bahamas, Attorney-At-Law, the Authorized :
Attorney in The Bahamas for obtaining the Resealed : ©
Grant of entry appointing Fiduciary Letters of Authority :
in the above estate granted to BARBARA P. RULMAN :
the Executrix of the Estate, by the Probate Court of :
Cuyahoga County, Ohio, one of the States of the United }
States of America, on the 12th day of May 2006. :
: Islands of the Commonwealth of The Bahamas has
: made application to the Supreme Court of The
i Bahamas, for letters of administration with the will
: annexed de bonis non of the Real and Personal Estate
: Of ADDINGTON TAYLOR late of The Southern District,
: New Providence, one of the Islands of the
: Commonwealth of The

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Signed
Desiree Robinson
(for) REGISTRAR

No. 2007/PRO/npr/00312

Whereas, GLORIA PATRICIA DAWKINS nee LEWIS :
of Butter Cup Lane, South Beach, Southern District, :
New Providence, one of the Islands of the :
Commonwealth of The Bahamas has made application :
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of DAVID :

DAWKINS late of Butter Cup Lane, South Beach,

Southern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased. :

Notice is hereby given that such applications will be :
heard by the said Court at the expiration of 14 days ; |
i Whereas, SHANNELLE SMITH of the Western District,
+ New Providence, one of the Islands of the
: Commonwealth of The Bahamas, Attorney by Deed of
: Power of Attorney for the Administrators has made
: application to the Supreme Court of The Bahamas, for
: letters of administration with the will annexed of the
: Real and Personal Estate of JULES FRANCOIS
: JOSEPH JUAN PHILLIPPE MAURICE FERNANDO
i de AMODIO a.k.a. JOHN de AMODIO a.k.a. THE
or i MARQUIS de AMODIO late of 3 rue de L’Eveche,
COMMONWEALTH OF THE BAHAMAS :
THE,SUPREME COURT :
PROBATE DIVISION
July 19, 2007 :

: from the date hereof.

from the date hereof.
Signed

Desiree Robinson
(for) Registrar

No. 2007/PRO/npr/00313

Ziegelwinkel 16,96317 Kronach in the federal Republic

? No. 2007/PRO/npr/00319
Notice is hereby given that such applications will be :
heard by the said Court at the expiration of 14 days ;
: Subdivision, Western District, New Providence, one of

of Germany, deceased.

i from the date hereof.
Whereas, WEALTHEA WHYMMS of #75 Hamilton :
Street, Western District, New Providence, one of.the :
Islands of the Commonwealth of The Bahamas has ;
made application to the Supreme Court of The :
Bahamas, for letters of administration of the Real and :
Personal Estate of ROBERT L. WHYMMS late of #75 :
Hamilton Street, Mount Pleasant Village, Western .;
District, New Providence, one of the Islands of the :
Commonwealth of The Bahamas, deceased. :

heard by the said Court at the expiration of 14 days :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

: Whereas MICHELLE NEVILLE-CLARKE of Marlin
: Drive in the Western District of the Island of New :

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT ;
-PROBATE DIVISION :

No. 2007/PRO/npr/00309

Whereas, ELAINE ARNETT of Amerylis Avenue, New

July 19, 2007 |

Signed —
Desiree Robinson
(for) Registrar

No. 2007/PRO/npr/00314

: Providence, one of the Islands of the Commonwealth :
: of The Bahamas has made application to the Supreme :
: Court of The Bahamas, for letters of administration of :
i the Real and Personal Estate of FREDY GOZALI late ;
i of Jalan Matraman Raya Number 60, Rukun Tetangga :
012/002, Kebon Manggis Village, East Jakarata, :

Republic of Indonesia, deceased.

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days :

from the date hereof.

Providence, one of the Islands of the Commonwealth :
of The Bahamas has made application to the Supreme :
Court of The Bahamas, for letters of administration of ;
the Real and Personal Estate of TORQUIL ARNETT :
late of Amerylis, New Providence, one of the Islands :
of the Commonwealth of The Bahamas, deceased. :

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

Whereas WILLIAM NATHANIEL TAYLOR of Gleniston
: Gardens in the Island of New Providence, one of the :
: Islands of the Commonwealth of The Bahamas has :

Signed
Nicoya Neilly
(for) Registrar

No. 2007/PRO/npr/00315

THE TRIBUNE

made application to the Supreme Court of The
Bahamas, for letters of administration with the will
annexed of the Real and Personal Estate of CLIFTON
HARCOURT TAYLOR late of Gleniston Gardens in the
Eastern District of the Island of New Providence, one

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.

Signed
Nicoya Neilly
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00317

Whereas, SUSAN J. JOSEPH nee ROLLE of Claridge
Road, Southern District, New Providence, one of the

Bahamas, deceased.

Notice is hereby given that such applications will be
heard by the said Court at the expiration: of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION

No. 2007/PRO/npr/00318

Switzerland, deceased.

Nutice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007

Whereas, SHERYL VINCESS HILTON of Gerald Bartlet

i the Islands of the Commonwealth of The Bahamas has
: made application to the Supreme Court of The
; Bahamas, for letters of administration of the Real and
: Personal Estate of SEAN MARIO HILTON late of Gerald
: Bartlet Subdivision, Western District, New Providence,
: one of the Islands of the Commonwealth of The
; Bahamas, deceased.

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Notice is hereby given that such applications will be
heard by the said. Court at the expiration of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00320

: Whereas, VIRGINIA FERGUSON of Pinewood Gardens,
: Southern District, New Providence, one of the Islands
: Of the Commonwealth of The Bahamas has made
: application to the Supreme Court of The Bahamas, for
i letters of administration of the Real and Personal Estate
i of AMOS FERGUSON late of Francis Street, Fox Hill,
: Eastern District, New Providence, one of the Islands
: of the Commonwealth of The Bahamas, deceased.
COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

July 19, 2007

aes"



THE TRIBUNE



SUPREME COURT

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division.
2007/PRO/npr/00321

IN THE ESTATE of WILLIAM DENNIS, late of
Van Buren County in the State of Tennessee,
one of the States of the United States of
America, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the. Probate Division by
NICHOLAS JOHN ZERVOS of the City of
Nassau in the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized

Attorney in The Bahamas for obtaining the ©

Resealed Letters Testamentary in the above
estate granted to RUTH DENNIS, the Executrix
of the Estate, by the State of Tennessee,
County of Van Buren, on the 8th day of June
2005.

Signed
Nicoya Neilly
(for) REGISTRAR

COMMONWEALTH OF THE,BAHAMAS .....
_ THE SUPREME.COURT. ....

PROBATE DIVISION

July 19, 2007 »

No. 2007/PRO/npr/00324

Whereas RUBY ELAINE BYER of the Southern
District of the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of DORA MATILDA HENRY late of Ferguson
Subdivision in the Southern District of the
Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas,
deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.

Sign
Nicoya Neilly
(for) Registrar

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167

Nassau, The Bahamas -

July 19, 2007
Probate Division
2007/PRO/npr/00325

IN THE ESTATE of CATRIONA MACLAINE
GOURLAY, late of No. 54 Bishop’s Court,
Bishop’s Road, Trumpington in the District of
‘Cambridge in the County of Cambridgeshire
in the United Kingdom, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
KEVIN M. RUSSELL of the City of Freeport
in the Island of Grand Bahama,.one of the
Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the
Resealed Letters of Administration in the above
estate granted to JAMES RICHARD TEE, the
Personal Representative of the Estate, by the
High Court of Justice, the District Probate
Bae at Ipswich, on the 25th day of April
2006.

Signed
Nicoya Neilly
ffav\ DEAICTRAD



Oln brief

Legislation
moved on to
ease passport
request crisis

@ WASHINGTON

HELP may be on the way

to deal with the backlog of

unprocessed passport
requests. Legislation passed
Monday by the House would
make it easier for the State

Department to rehire retired :

personnel to pitch in, accord-
ing to Associated Press.

The bill, approved by voice
vote, responds to the depart-
ment’s inability to cope with a
deluge of passport applica-
tions this year, resulting in
long processing delays and
leaving many without pass-
ports needed for trips abroad.

The sharp increase in appli-
cations followed the January
implementation of a law,
enacted in 2004, requiring
those returning by air from
Canada, Mexico, the
Caribbean and Bermuda to
present a passport.

The bill would grant the
State Department flexibility
to rehire, on a temporary
basis, retired foreign service
passport adjudicators. It
would waive rules that deny
pension payments to retirees
returning to work when they
exceed strict wage and hour
caps.

The House bill makes
slight changes to a Senate
version that passed last
month. The Senate could
take up the House measure in
the coming days, sending it
to the president for his sig-
nature.

_ "Hopefully, this will get

experienced people at their
desks this summer to help
people get their passports,”
said Sen. Charles Schumer,
D-NY, sponsor of the Senate
bill. The State Department
has said it expects to hire
back 50 to 100 adjudicators
this year as a peoul of the leg-
islation.

Passport Panicanions were
expected to approach 18 mil-

lion this year in the wake of

the new law aimed at tight-
ening border controls and

blocking those trying to enter.
the country ‘illegally. Abott t, ae
12 million. applications. weft: |;

received last year.

The time needed to process
applications doubled from the
usual six weeks to 12 weeks,

and passport offices around:

the country have been over-
whelmed by long lines of peo-
ple trying to get passports in
time for summer trips.
“Millions of Americans are
facing unprecedented delays,”
said Ileana Ros-Lehtinen, R-
Fla, top Republican on the
Foreign, Relations Commit-
tee. “As weeks become
months these painful holdups
have wrecked long-planned
travel, job opportunities-and

family obligations for thou- i

sands of our fellow citizens.”

Maura Harty, assistant sec-
retary of state for consular
affairs, acknowledged to a
House Foreign Affairs Com-
mittee hearing last week that
her office failed to predict the
level of demand.

Harty said some applicants
apparently were not aware
that the passport requirement
currently applies only to air
travelers, with the extension
to land and sea travelers not
going into effect until 2008 at

that many non-travellers were

solid form of identification.









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Do you desire more than average?
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_ Are you trying to buy that dream home,
send your kids to college, or buy a new car?
Then this is your opportunity to realize that dream.

THE Bahamas added an
authentic heritage museum and
tour to its tourism product this
week with the opening of
Bahamas Heritage Centre at
Nettie’s Different of Nassau.

Veteran hotelier, Nettica
Symonette, developed the her-
itage site at Casuarina’s Hotel
on Cable Beach.

The expansive building fea-
tures a museum that houses rare
articles such as old goose irons,
wash tubs, scrub boards and
kerosene oil lamps.

A maypole, greasy pole, pit
roast, rock oven, chapel and tra-
ditional schoolhouse for story-
telling are also located at the
heritage centre.

Branville McCartney, Minis-

ter of State in the Ministry of
Tourism, called it an attraction
that “is not only unique and
visionary but truly remarkable
and worthy of being among the
‘must-see’ indigenous tours for
both visitors and residents.”

“We must do all in our powér
to pass on our rich heritage to
future generations,” he said. “In
this regard, aspects of our cul-
tural heritage should:be incor-
porated into the schools educa-
tional curriculum and Different
of Nassau placed on the must-
see list for schools.

“This project is also an impor-
tant addition to the tourism
product. It is the only place
where these authentic Bahami-
an items and experiences can
be viewed and enjoyed,” he
said.

Ms Symonette recalled the
long, rewarding and often rough
career that led her to the open-
ing of Bahamas Heritage Cen-
tre. Her journey included teach-
ing at the age of 10, being
forced to leave the Government
High School prematurely at the
age of 16, sacrificing further
education to care-for her moth-

er and ee: and several trials

WEDNESDAY, JULY 18, 2007, PAGE 7

‘Heritage museum

officially opened.
at Cable Beach





@ PICTURED (from left) are Branville McCartney, Minister of
State in Ministry of Tourism; Vernice Walkine, director general
of Ministry of Tourism; Nettica Symonette, Bahamas Heritage
Centre operator; Charles Maynard, Minister of State in

Ministry of Culture; Christina Symonette and Rosena Duncan-
son, granddaughters of Ms Symonette, and Tommy Turnquest,
Minister of National Security.

and successes in the hospitality
industry.

Ms Symonette~ opened
Casuarina’s Hotel in 1977,
Years later, she opened the eco-
resort, Different of Abaco. The
resort earned special acclaim in
the international media, notably
CNN and Conde Nast Travelet
Magazine. ;

Returning to Nassau, the
decided to develop the heritage
centre in part as a contribution
to the education of younger
Bahamians.

The Bahamas Heritage Cen-
tre now stands as a living muse-
um and a‘legacy for generations
to come, Ms Symonette said.

“IT see this as a school of
learning for Bahamian children,

‘a place of memory for the older :

generations. who want to, con’

nect with their past,” she said.
“In my lifetime, I have risen
from poverty, earned a PhD
from the University of Hard
Knocks, lived in the finest
homes, worn the most expen-
sive clothes and travelled almost
around the world.

“But nothing has given me
greater satisfaction than creat-
ing this living museum, realising
that if you do not know where
you came from, you do not
know where you are going.”

Minister of National Security
Tommy Turnquest and Minister
of State for Culture Charles
Maynard also participated in
the opening ceremony of the
centre.

The ministers were treated to
a special tour of the heritage
centre by Ms Symonette.

COB launches scheme
to recruit young chefs

THE Culinary and Hospital-

i ity Management Institute at the

College of the Bahamas has

introduced a bold and innova- —

tive way to attract young people
to the wonders of cooking and
possibly a career in the industry.

Named “Little Chefs”, the
idea is to provide a week long
opportunity for enterprising 10
to 14 year olds to experience
culinary training at CHMI
under the supervision of two of
its trained chef instructors.

A similar programme is
underway in Grand Bahama
and both will culminate in each
of the “little chefs” producing a
three-course meal for two invit-
ed guests at the end of their
week’s training.

Little Chefs is the brainchild
of chef Robert Laudermilk and

: ~ so inspired by its possibilities
the earliest. She also noted :
? utive director of CHMI, that he
now view. the document as a

was Dr Lincoln Marshall, exec-

decided to use it as way to reach
out to young people both in


















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@ POTENTIAL chefs take a look round a professional kitchen
as they receive training in culinary skills

Nassau and in Freeport.

“It’s all about creating
momentum,” said Dr Marshall,
“momentum. for CHMI that will
come from attracting bright,
committed young people to
train for a career in the culinary
industry.”

At the opening ceremony at
Choices Restaurant at the
Bahamas Tourism Training
Centre, Dr Rhonda Chipman-
Johnson, executive vice-presi-
dent and vice president of aca-
demic affairs, welcomed the
group of 14 “pioneers”, as she
called them, and expressed her
pleasure at seeing five parents
in attendance too.

Dr Chipman-Johnson
reminded the young people that
the programme was opening in
Grand Bahama at the same
time, “A true indication,” she
said, “that we are the College of
the Bahamas and not just the
College of Nassau.”

Reminding the students of
the many possibilities to which a
career in the culinary arts can
lead, Dr Chipman-Johnson,
spoke of the distinct likelihood
of their becoming employed in
some sector of the tourism
industry when they finish their
studies.

She also told them that the
world of tourism is becoming

more and more competitive;
consequently, the Bahamas
must ensure that what it does
and what it offers are the best
they can be. “In this regard,”
she added, “‘it is very pleasing to
see how many award winning
chefs we have produced here in
the Bahamas.”

Valderine Hamilton, director
of industry training at CHMI,
was also present to welcome the
participants and she immedi-
ately put them at their ease and
made them feel at home.

She explained that Little
Chefs is a collaboration
between CHMI and the Min-
istry of Tourism and that the
latter is providing chef’s hats
and aprons for the participants.

In addition to their chef’s out-
fits, the young people will
receive a manual and cookbook
produced by Mr Laudermilk
and will go on a guided tour of
the kitchen at the RUI hotel on
Paradise Island.

Working with Mr Laudermilk
will be chef Ron Johnson, a past
graduate of the Bahamas Hotel
Training College, the forerun-
ner of the College’s Culinary
and Hospitality Management
Institute. .

Mr Johnson also graduated
magna cum laude from John-
son and Wales University.



PAGE 8, WEDNESDAY, JULY 18, 2007 <



THE TRIBUNE

a

It’s time to focus on rising murder
rates and the younger generation

: ONVERSATIONS

with taxi drivers these
days are no longer about the
weaiher or business — they’re
all about the latest killings.

Another young man stabbed
or shot to death for who knows
what. Another young woman
dispatched mn a domestic quar-
rel. Another gunfight at the fish
fry. Experts say homicide is a
reliable barometer of all violent
crime, and we have had 45 mur-
ders so far this year — one of
the highest per capita rates in
the world.

Death by yiolence is com-
monplace on New Providence,
along with armed robbery and
rape, and our youth seem to be
armed to the teeth. When 18-
year-old Mazdio Hall was killed
at the QE sports centre days
ago, newspaper reports said
other young people in the
crowd were moved to fire their
weapons in the air.

Police say:70 per cent of local
murders are committed by
young men between the ages of
18 and 35 — and their victims
are usually other young men.
The causes range from gang
warfare to lovers’ quarrels to
drug disputes to plain old argu-
ments.

And public response to this
unprecedented tide of killings
has been predictable. The
Christian Council demands
“immediate hangings.” Others
call for prayer meetings. And
some have suggested an
amnesty for thugs to turn in
their weapons to local pastors.

As for the causes, some argue
that our young men are bored,
uneducated and unable to make
a living. Others say they want
the power that comes with guns.
Still others say it’s a question
of anger management, because
even trivial disputes lead to vio-
lence. And since weapons
abound, the violence is often
deadly.

EF fact, one of society’s
greatest fears today is the
swaggering youth with a gun or
knife in his hand and ruthless-

ness in his heart. And the big

* question is: are we producing a

generation of killers that will
send the country spiraling into
anarchy?

This breakdown is often
attributed to our dysfunctional
court system, which cannot
properly process or hold crimi-
nals. As former policeman Paul
Thompson says, “our courts are
in shambles and the backlog of
cases continues to escalate
resulting in persons accused of
very Serious crimes being giv-



‘LARRY SMITH

rates are directly related to
demographics. For example,
conservative theorist James Q.
Wilson said in 1975 that “a
critical mass. of younger per-



Others say it’s a question of
anger management, because
even trivial disputes lead to
violence. And since weapons —
abound, the violence is often

deadly.



en bail after years: in prison
without trial.”

And here’s what one politi-
cal leader had to say about the
problem: “We know we’ve got
about six years to turn this juve-
nile crime thing around or our
country is going to be living
with chaos.”

That was Bill Clinton — pres-
ident of the United States from
1992 to 2000. He was reacting to
the dramatic crime wave of the

late 1980s and early 1990s, when -

increases in drug dealing and
related handgun violence in the
US pushed up the murder rate
for teenagers by 22 per cent.
And all the experts said it would
only get worse.

Criminologist James Allen
Fox predicted “a bloodbath of
teen violence in the years
ahead...Too many children are
coming out undersocialized and
undersupervised. They have too
much free time on their hands.
Literally time to kill.”

Fever have. long
assumed that crime

sons... creates an explosive
increase in the amount of
crime.”

But it is not just the number
of young people that is impor-
tant to the crime rate. It is also
the kind of families they come

from. Social scientists say. the

rise in violent. crime has paral-
leled the rise in families that
have been abandoned. by
fathers, anda 10 per cent
increase in the percentage of

children living in sinpte-parent

homes leads typically to a 17
per cent increase in juvenile
crime.

According to Dr Patrick

Fagan of the Heritage Founda-
tion (writing in 1995), “The evi--

dence suggests that at the heart
of the explosion of crime in
America is the loss of the capac-

ity of fathers and mothers to be.

responsible in caring for the

children they bring into the.

world. This loss of love and
guidance at the intimate levels
of marriage and family has
broad. social consequences for
children and for the wider com-

-munity.”

FOR IMMEDIATE RELEASE

I: this view, the root cause
of crime is not poverty, but
moral failure. It is the refusal to
exercise personal responsibility
and the inability to enter into
relationships based on a com.
mon code of conduct. For exam-
ple, one major US study of
11,000 individuals, found that

' “the percentage of single-parent

households with children
between the ages of 12 and 20 is

* significantly associated with rates
of violent crime and burglary.”

And Kevin Wright, professor
of criminal justice at the State
University of New York, says
“Research confirms that chil-
dren raised in supportive, affec-
tionate, and accepting homes
are less likely to become
deviant. Children rejected by
parents are among the most
likely to become delinquent.”

In fact, this theory was con-
firmed by the last taxi driver |
spoke to — one Livingstone

‘Miller of Everglades Road:

“People blame the PLP gov-
ernment and they blame the

Catholic, agrees with all the
researchers who find that a
neighbourhood composed
mainly of single-parent families
is invariably a chaotic, crime-
ridden community in which
assaults are high and the gang

—.the delinquent subcommu-

nity — assumes control.

Prayer services won’t cut it.
And there are no statistics any-
where to prove-that the death
penalty reduces crime. But, as
Dr Fagan says, “it is no coinci-
dence that one of the central
rules in the traditional moral
codes of all communities at all
times, in all places, and in all
cultures is the prohibition
against giving birth to children
outside of marriage. Societies
all over the world have recog-
nized that this prohibition is
essential to social stability and
to raising members of each new
generation with the proper
respect for their community and
their peers.”

|: their book, Freakonom-
ics, economists Steven
Levitt and Stephen Dubner
examined factors that played a
critical role in reducing crime
in the US during the 1990s.
These factors included extra
police, jailing more criminals,
the decline of the crack epi-
demic and legalization of abor-
tion in the 1970s.



- About 70 per cent of all births

in the Bahamas are now |
illegitimate and almost half
of very poor households are
headed by single women,
supporting five or more

dependents.



FNM government, but it is real-' -
«ly, the family and the way they
..bring these kids up.”

Miller, a devout Roman

The Government of The Commonwealth of The Bahamas announces the issue of a further
offering of Bahamas Registered Stock totalling B$100.000 Million. Applications will be received
by The Banking Department beginning at 9:30 a.m. on 17th July, 2007 and will close at 3:00pm on
24th July, 2007. Allocations will commence at 9:30 am. on 25th July, 2007 and will cease st

3:00p.m. on 26th July, 2007. Application for the Stock subscription mu
BS100.00. The details of the Issue are as follows: eee

Rate of Interest

5/16% Above Prime Rate _ [Bahamas Registered Stock 2027_
9/16% Above Prime Rate [Bahamas Registered Stock 2035
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on 26th January, and 26th July of each year until the Stock is repaid. Application forms may be
obtained from The Central Bank of The Bahamas’ offices in Nassau and Freeport, The Public
Treasury or any of the following banks:-

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payment.



“The magnitude of this rever-
sal was astounding,” Levitt and
D»bner say. “The murder rate,
instead of rising 100 per cent,
or even 15 per cent as James
Allen Fox had warned, fell
more than 50 per cent within
five years. By 2000 the overall
murder rate in the United
States had dropped to its lowest
level in 35 years. So had the rate
of just about every other sort
of crime.”

' They attribute this largely to
a young woman in Dallas
named Norma McCorvey — a
poor, uneducated, unskilled,
alcoholic, drug-using 21-year-

old who had already given up
two children for adoption and
found herself pregnant again
She became the lead plaintiff
in a class-action lawsuit, to
legalise abortion, which made
its way. to the Supreme Court
in 1973 under the name of Roe
versus Wade.
So how did abortion help trig
ger the greatest crime drop in
recorded history?
Well, as Levitt and Dubner
point out, “as far as crime is con-
cerned, not all children are born
equal. Decades of studies have
shown that a child born into an
adverse ‘family environment is
far more likely than other chil:
dren to become a criminal. And
the millions of women most like-
ly to have an abortion in the
wake of Roe vs Wade — poor,
unmarried, teenage mothers, —
were often models of adversity.
They were the very women

whose children, if born, would | °’

have been much more likely than - ‘
average to become criminals.,
“It wasn’t gun control or a
strong economy or new police
strategies that finally blunted
the American crime wave. It
was, among other factors, the
reality that a pool of potential
criminals had dramatically
shrunk.” ty

S o should we Bahamians
be concerned about the
careless reproduction , of
unwanted and uncared for chil-
dren? Well, about 70 per cent, of
all births in the Bahamas are
now illegitimate and almost half
of very poor households are
headed by single women, sup-
porting five or more depen-
dents. We also have the top
recorded rape rate in the world
and one of the highest murder
rates. ‘4

National Security Minister. '
Tommy Turnquest says the gov-
ernment is working on a multi-
sectoral crime control master
plan to be unveiled in the fall.

This has been a recommenda- :

tion of the CARICOM Task
Force on Crime and Security
since 2002... ., ,

But to address the real roots
of crime, it seems that our polit-
ical and religious leaders shopld
be inspiring Bahamians-to
rebuild their families and com-
munities: And it also means
that the people at the top must
set the supreme example by fol-
lowing the rules and codes of
conduct themselves. -

What do you think?

Send comments to larry@tri-
bunemedia.net. Or visit
www.bahamapundit.com

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“THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 9



“Chief Councillor clans
the FNM is committing ©
‘biggest act of political
victimisation in
local government’
FROM page one

‘vand Joe Albury by the new

~PNM government.

'-“ Unfortunately, in the
“Jast week, the ministry
-of local government
‘under the direction of
Prime Minister Ingra-
“ham, is in the process of

firing two Councillors
-on our Council, and

“shold elections for the
two members. I find this

'-An act of complete

“political motivation and

"skullduggery of the
highest order,” he said.

‘Mr Sweeting, who
spoke to The Tribune
last week about the

‘“controversy, alleges

“that a group in the com-

“-munity, who value

““political affiliations
higher than the overall

“good and betterment of

* the community”, is

'-behind this powerplay

“and were rejected in
their efforts by the for-
mer local government
-minister, Alfred Gray.

~°s Mr Sweeting also

‘alleges that Local Gov-
ernment Minister Sid-
‘ney Collie, on June 22,

‘told the council — Mr
Sweeting said he has an
audio recording and a
transcript of the state-

“ments — that the

~"expense of new elec-

‘tions would be unneces-

“sary with only one more

-Cyear left in its mandate.

“.f However, as soon as

‘Mr Collie returned to

‘Nassau, Mr Sweeting

“said, he got new orders.

~~ “Honestly, I found

‘ Minister Collie to be a
‘man of good character
‘and a diplomat, but sure
as I am sitting here ©

“today, when the diplo-
“faat went back to the
Capital and entered the

“chambers of the dicta-

‘for, the course

-»¢hanged,” he claimed.

-*- Mr Sweeting expects
‘the FNM to use a peti-
tion circulated with.120

: ‘of 200 voters against the
‘Council to be used
-‘against them as a justifi-

‘cation for new elec-
‘tions, along with section

18 of the Local Govern-
ment Act, which allows
the minister to call elec-

‘tions for council seats
that were nominated
rather than elected —
which is the case with

“the two Council seats in

-“question.

In response to-this,

Mr Sweeting said that .

"



B ATTORNEY General
Claire Hepburn

FROM page one

eral election, a political-back-and-
forth took place between former
foreign affairs minister Fred
Mitchell and the now Education
minister Carl Bethel about an
alleged “visa scam.”

Mr Bethel, during an FNM ral-
ly, claimed that the number of
visas issued to Haitian and Chi-

nese nationals had increased a:

hundred-fold during Mr Mitchel-
l’s tenure.
However, Police Commission-
er Paul Farquharson, in a written
communication to Mr Mitchell,
said that there was insufficient
evidence to charge or prosecute
any person for an offence within
our outside the consular section
of the Ministry of Foreign Affairs.
In February of this year, the

Auditor General’s report for the

LOCAL NEWS

AG sceptical on claim that
‘hanging prevents crime’

ATTORNEY General Claire Hepburn
responded yesterday to the recent talk
among members of the public and social
commentators of whether there is need
for capital punishment to be put into effect
in the Bahamas in view of the increasing
number of murders.

Mrs Hepburn said she is sceptical about
the claim that “hanging people prevents
crime.”

“T particularly have a view — and this
isn’t the law now — that what we need to
do as a people is we need to start being our
brothers keeper and instead of trying to
look at worldwide solutions to problems,
sometimes if we just take that little child
next door to us that has nobody to take
care of them, and we nurture them, we
may do far more good in terms of stop-
ping crime.”

The Attorney General reminded the
public that, since the landmark Privy Coun-

cil ruling, while capital punishment is “still
constitutional, it is no longer mandatory”
and an extra sentencing hearing is required
before anyone can be sentenced to death.

“So one time, when you were convicted
of murder you were automatically sen-
tences to death, that cannot happen any
longer,” she said, adding for those who are
calling for it that “the only thing we can do
is what is the law.”

“We cannot simply go ahead and do
something because people are calling for
it,” she said.

While noting that Barbados has amend-
ed its constitution “so that it says in its
constitution that the mandatory death sen-
tence is not unconstitutional” Ms Hepburn
said she “does not know if there’s anybody
in the Bahamas who wants to go there,”
adding: “Our government certainly isn’t
considering that now.”

Since the Privy Council ruling, she said,

all those previously sentenced to death will
now have to have their sentences reviewed
— a process which is ongoing. Mrs Hep-
burn added that “not one” of those who
needed to have their sentences reviewed
have “reached the end of the line” and
received their new sentences.

Now the death sentence is not manda-
tory in murder convictions, a second sen-
tencing hearing must be carried out before
a person can be given the death penalty.

“In each case the court has to go into a
second phase after conviction which is to
have a sentencing hearing where the court
is going to look at all of the circumstances
of the case, the way the offence was com-
mitted...probation reports, psychiatrist
reports in some cases, it will look at pros-
ecution and also defence and then at the
end of it all it'll determine whether in fact
it is an appropriate case for the death
penalty.”

Senior police
officer

fiscal year 2003/2004 was pub-
lished, stating that controls at the
visa section at the Ministry of For-
eign Affairs during that year were
“very weak” and that practices at
the office were vulnerable to
abuse.

The report, which prepared
revenue and expenditure audits
for the fiscal year 2003/2004,
showed that several documents
were missing at the ministry.
These documents include records
indicating whether all the neces-
sary information was provided by
those persons to whom visas were
granted.

Man in court over murder

FROM page one

rio Ducille. Russell was not required to plead to the murder charge,
which stated that on Sunday, July 8, he caused the death of Mardio

Hall.

Ms Taylor, Russell’s counsel, informed the court that her client,
who, under police escort, hobbled to court on a crutch, had a bro-
ken leg and fractured back. Ms Taylor told the court that Russell
had had surgery two months ago, having been in an accident and
was due to have another operation soon. Russell was remanded to

Her Majesty's Prison.

His case was adjourned to Tuesday, July 24, and transferréd to
Court five, Bank Lane. Last week, a 17-year-old boy, alsd'of

: Pinewood Gardens, was arraigned in magistrate’s court, "Yiso

charged with Mardio Hall’s murder. He too has been remanded to

Her Majesty's prison.
FROM page one

the chairmanship post.

It was.also revealed that Mr
Adderley was “noticeably miss-
ing” from Melanie Griffin’s

-branch meeting held Monday

night. This apparent “snub”
reportedly did not go down well
with senior PLPs who were seek-
ing an opportunity to confront
Mr Adderley on the persistent
reports of his shift in allegiance.

‘PLPs fear’

Adderley was leaving the party,
Mr Grimes said he had no idea as
he had not spoken with him for
sometime.

“TI emphasize that I personally
have a tremendous amount of
respect for Mr Adderley. He is a
man of the highest principle, and
I doubt very seriously that he
could be motivated by money.

FROM page one—

PLP leader.

“If it is indeed said that he
was cheated out of the elec-
tion, then he should stay on.
However, if he fairly and
squarely lost the election, or

whatever the case may be,

then by all means, the loss of
the election rests at his feet,”
the source said.

“We believe that Bernard
Nottage would be more in
touch with young people,” he
added. However, the source
made it clear that Dr Nottage
“will not contest the leader-
ship if Perry Christie is still.the
leader.”

With Mrs Cynthia Pratt, the
PLP’s current deputy leader,
poised to step down, the insid-
er said that it looks likely that
Dr Nottage will assume the
deputy leadership of the PLP
in November, as an interim
move pending Mr Christie’s
decision.

It was explained to The Tri-

_Christie’s political future

bune that the move to Dr Not-
tage will also serve the interest
of younger PLPs who want a
strong leader now, but do not
want a leader who will not stay
on for an excessive amount of
time, as Dr Nottage is 61.

“If you choose someone
who could be deputy leader
for a number of years, that
could wipe out an entire gen-
eration,” he said.

The shadow of Sir Lynden’s
departure still looms over the
PLP, the source continued. In
1992, after 25 years in power,
the PLP won 18 seats. By 1997,
after Sir Lynden stayed on to
the amazement of many com-
mentators, the party was
reduced to near oblivion win-
ning only six seats in the
House of Assembly.

The source told The Tri-
bune that he does not think it
will be necessary for the party
to force Mr Christie out if
there is no election or change
of government. Rather, he
said, “I think he will step
aside.”

Man dies
after double

shooting
FROM page one

A third man, identified
as 32-year-old Lafrancouer
Estimable, was also found
injured on the scene, how-
ever police say it is not
clear how his injury was
inflicted. He is listed in
serious condition.

Following the incident,
police retrieved from the
scene a.9mm handgun with
three live rounds.

While Mr Hanna could
not give a conclusive
motive for the double
shooting, he did say that
robbery as a motive
seemed to be a strong pos-
sibility.

Police are continuing
their investigations into the
shootings.

% the petition is more
an 10 months old and
erates to some anger in

“I am a trustee of the party. I
have known Malcolm Adderley
for many years. I have the great-
est respect for him. The greatest
respect for him, both as an indi-
vidual, as a family man, and as a
politician. Unless I hear that com-
ing from his mouth, to my ears, I
will not believe it,” he-said.

More troubling, some sources
claim, is the fact that despite the
reports, Mr Adderley has yet to

=the community over a make a public statement of his

“garbage contract that : wishes to either stay or leave the
‘Sshas since subsided. He i PLP.

‘also questions if gov- However, one of Mr Adder-
ernment has not passed ley’s staunch supporters and long
a 90-day provision in time colleagues, Valentine
the law to call such Grimes, said he would be “very, Repeated calls to Mr Adder-
local government elec- very surprised” if Mr Adderley ley were not returned up to press
tions. decided to leave the PLP overa time.

Mr Sweeting declared matter of earning more money as Calls to the former prime min-
that if the government Gaming Commission chairman. ister and leader of the opposition
does not call local gov- When questioned directly as to Perry Christie were also not
ernment elections whether or not he knew if Mr returned.

across the Bahamas, the
actions of the Ingraham
government in remov-
ing these two council-
lors should be regarded
as an act of “tyranny”.
“Councillors can tell
you that when it comes
to local government, I
do not play politics. We
work for the betterment
of our communities and
~towns. Politics doesn’t
have a home in our
-,Council. But the minute
*-éentral government,
's ‘whether FNM or PLP,
“sinterferes with the busi-
“mess and the running of
“sour Council, that is
_when we slam the gov-
ernment, FNM or PLP.
It doesn’t matter
because local govern-
thent is supposed to be
“local government,” he
said.
: When contacted by
; The Tribune fora
response to these alle-
“gations, Minister for
Lands and Local Gov-
ernment, Sidney Collie
said he will reserve
comment on this matter
until he has a chance to
review the remarks
. made by Mr Sweeting at
: the press conference.
' Opposition MP
Alfred Gray is expected
. to bring this issue up in
~ the House today.



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PAGE 10, WEDNESDAY, JULY 18, 2007

| WEDNESDAY EVENING

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THE TRIBUNE

let Charlie the a
Bahamian Puppet and ly
his sidekick Derek put

some smiles on your

kids’s faces.



Bring your children to the

McHappy Hour at McDonald's in J
Marlborough Street every Thursday fe
from 3:30pm to 4:30pm during the oe

month of July ZOO fh

Enjoy Great Food, Prizes and Lots of Fun.

i'm lovin’ it





THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 11



@ By DENISE MAYCOCK
Tribune Freeport

Reporter

FREEPORT - The Atlantis
IT — a research vessel respon-
sible for many historic dis-
coveries around the world —
has undergone a $3.2 million
complete restoration here in
Grand Bahama.

The vessel will be officially
re-christened at Freeport
Harbour at 5pm today, and
returned to service to begin
a new era of exploration and
discoveries around the world.

Gordon Hunsucker, owner
of Atlantis IT, saved the vessel
from being scrapped last year,
and purchased it in an effort
to restore the historic ship
which was the first to view the
Titanic.

. The ship was originally
built in 1962 for the Woods
Hole Oceanographic Institu-
tion (WHOJ) for research
exploration. It was commis-
sioned in 1963 and served as
the flagship for Wood Hole
for 33 years.

The vessel has been around
the world nine times and has
-logged more miles — over one
million — at sea than any oth-
er research vessel in history.

CABLE

“It has been responsible for
numerous new discoveries
and explorations, and was the

‘first vessel that actually

viewed the Titanic. It sent a
submarine down and they
actually saw the Titanic for
the first time,” said Mr Hun-

“sucker, ;
After many-years of explo-

ration, the ship was retired in
1996 and sold to a private eee
ty who let it sit idle in
Orleans.

Mr Hunsucker bought it

. last September and brought

it to Grand Bahama for a
complete restoration at the
shipyard.

“It was hours. away from
being scrapped,” he said.

“The person who had it was:

going to sell it to the scrap
yard. And it would have been

“a shame because it is so his-
. torical and so famous, _
“It has had tremendous dig-

nitaries on it, including Mr
Jacque Cousteau, the Emper-
or of China, as well as numer-
ous celebrities,” said Mr Hun-
sucker.

Mr Hunsucker had the ves-
sel completely gutted, remov-
ing some 50,000 pounds of
junk from the ship.

“The ship was essentially

i 1

LOCAL NEWS

Atlantis II vessel to be
re-christened in Freeport

rising from the ashes. It was
pretty much on its last leg,
and people had written it off
as the ship that would never
be in service again, and we
completely restored it,” he
said,

The vessel is about 210ft

ong and 44 ft wide, and has a

14 ft draft. It has seven decks
and can accommodate 80 per-
sons.

It is equipped with an
explorer’s lounge, gym, an
extensive dive walker, two
laboratories, retail space, and
a first-class dining room with
a fireplace.

“The restoration was $3.2
million and it is currently in
better shape than the ship has
ever been in its lifetime,” said
Mr Hunsucker.

Following re-christening in
Freeport, the vessel will

embark on several different -

explorations around the
world, including an explo-
ration project in Chile.

Mr Hunsucker revealed
that the ship will explore an
“unexplored rainforest” on
the southern tip of Chile.

“You can see Antarctica
from this rain forest. And the
interesting part of it is that
there should not be a rainfor-

BAHAMAS

av ACANC Y
Ip Network Engineers

est there because it is a very
cold environment, and
researchers have discovered
over 1,000 new species of life
there,” he said.

A 22-person exploration
team — comprising a science
team and film crew — will
join the crew of Atlantis IJ on
the rainforest exploration to
Chile.

Mr Hunsucker said that the

explore an underwater city off
the coast of Japan.

“There is an underwater
city that was accidentally
found by a fisherman off the
coast of Japan. It is 65 feet
under water and about 311
square miles have been
mapped out, and it is believed
to have been built before the
last Ice Age,” he said.

Mr Hunsucker said that

and massive steps, as well as a
pyramid that is submerged

- underwater.

“We will be the first to take
a full documentary team and
spend time there exploring
this underwater city,” he said.

Mr Hunsucker said that
tourists and persons interest-
ed in participating in explo-
ration voyages may also join
the crew onboard the Atlantis

Atlantis IT is also.expected to

there are statues, carvings, JI.

Claim that executive using judiciary ‘as
scapegoat for wider social problems’

FROM page one

He stated that over 50 per cent of all cases
filed in court would fall into this category, in
many cases because of deficiencies in the evi-
dence made available.

Mr Munroe continued that a “backlog” should
not refer to the number of cases filed in court,
adding that “the fact that you have 500 cases in
the court does not mean that there’ 's 500 cases
ready for hearing.”

In June Attorney General Claire Hepburn
spoke of a backlog, claiming that there are 500
Supreme Court cases pending. She stated that
not all of these are “ready for trial” and said a
“review” would have to be undertaken by her
office to determine which ones do have the nec-
essary characteristics to make them eligible for tri-
al, such as available witnesses and exhibits.

‘Adding to his evidence to support his claim
that the “backlog” spoken of is not real, Mr
Munroe claimed that Chief Justice Sir Burton
Hall reduced the number of criminal judges from
four to two “because there weren’t sufficient cas-
es to occupy them”, leaving one in reserve should
the number of. cases being brought to trial
increase.

Additionally, Mr Munroe estimated that none.
of the two permanent judges is ever occupied
more than 60 per cent of the time, and “never in
(his) recent memory” have enough cases been

brought for the reserve judge to have to step into -
action.

office wants to prosecute a case that they’re going
to lose,” he said. “They may: have a nonsense
case, they may not be able to reach witnesses,” he
said of many of the pending cases.

In a statement which may be seen as a response
to the allegation that the Attorney General’s
office is not interested in taking on “losing cases”,
however, Ms Hepburn told the Senate last month
that talk of “swift justice” must not “mask the real
responsibility of...the Office of the Attorney Gen-
eral is not to secure a conviction, but to ensure
that justice is done.”

Mr Munroe claims that governments through-
out the world and in the history of the Bahamas
have chosen to blame the judicial system rather
than address some tough realisations.

“It’s the easiest one to point to and its the one
that doesn’t involve the executive, and every
executive does it, not just this one.

“If they pointed to the police, low and behold
the police is under the auspices of the executive
government. If they pointed to the education sys-
tem, the education system is under the auspices of
the central government. The social welfare system
- that too is under their control,” he said.

He added that the general public would also
prefer to hear that the judiciary is responsible -
and will be fixed - rather than admit the country
is undergoing social decay.

“Tell us something that will solve the problem
other than us disciplining our children or properly

‘raising our children; we don’t want to hear that,

that’s too difficult, that takes a little bit longer,” he
said.

“At oo of the ve nobody in the AG’s

Be ee Ore TS Oey eronioea Soesensenvenenens Sap paa nee any; HRPrARADOADORYGSOUANWODANSUNCOUay eben QobeouabaDDanaaeneuDeDbasnaaanunenD

Responsibilities

: Cable Bahamas Limited is seeking qualified IP Network

Engineers. The successful candidates must have a solid
technical background as well as strong leadership skills
working within a team environment and providing daily
operational leadership. Individuals will be responsible for
the day-to-day operations and support of customers in a
service provider network. Candidates must have strong
customer service and interpersonal skills.

Requirements

Technical skill requirements include installing, maintaining
and supporting IP routers and Layer 3 switches in a mixed
vendor environment. An in depth understanding of Layer 2
and Layer 3 protocols, as well as advanced level BGP, OSPF
and ISIS routing protocols and operations is mandatory.

Previous experience with MPLS TE and MPLS L2/L3 VPN is
a plus. Candidates must have previous working experience
with protocol analyzers, network management and IP related
diagnostic tools. In addition, experience within the Cable
Service Provider environment supporting DOCSIS cable
modem technologies, packetcable and VoIP technologies.
Familiarity with HFC infrastructure, general RF principles
and TCP/IP from both administrative and_ technical
perspectives are must haves. Candidates must be familiar
with procedures such as superhetting, subnetting, ARIN
policies, address request processes, address allocation and
SWIP procedures. Candidates must also possess a strong
understanding of DNS principles and management in a
Service Provider environment.





ENEZUELA’S President Hugo Chavez (centre).
(AP Photo)

Venezuela’s Chavez.
accuses Washington
of trying to isolate
his government

The successful candidates will be those having experience
working with the following key vendors, Arris, CedarPoint,
Cisco, Extreme, Juniper and Redback.

Minimum educational background
University Degree with relevant key vendor certifications
(CCNA/JNCIA/MCSE).

should

include a

All interested candidates should submit by email,
detailed resumes to the attention of Mr. Richard B
Adderley - humanresources@cablebahamas.com by
Friday, July 20, 2007.



@ CARACAS, Venezuela

PRESIDENT Hugo Chavez accused
Washington of trying to isolate his
government internationally after a top U.S.
State Department official said the
Venezuelan leader was using fear to advance
his political agenda, according to Associated
Press.

"They have been doing this for five years, try-
ing to isolate Venezuela, not just in Latin
America but the entire world," Chavez told
high-ranking military officers during a tele-
vised speech.

The Venezuelan leader was reacting to state- -

ments by U.S. Undersecretary of State Nicholas
Burns, who said last week during an official
visit to Brazil that Chavez was using "politics of

fear and division" to push forward his political
lans.

r Chavez = a close ally of Cuban leader Fidel

Castro = said U.S. officials specifically are

attempting to undermine Venezuela's relations

with Brazil as part of a larger effort aimed at

isolating his government.

"The empire is trying to separate us. They
won't succeed," he said.

Relations between Caracas and Washington
have been strained for several years due to
U.S. accusations that Chavez poses a threat to
democracy in Latin America and Venezuela's
constant criticism of U.S. foreign policy in the
region. Despite the strained diplomatic ties,
Venezuela remains a major supplier of crude
oil and refined petroleum products to the Unit-
ed States.



PAGE 12, WEDNESDAY, JULY 18, 2007

TWO representatives of the
Bahamas National Trust trav-
elled to Inagua to discuss
upgrading the facilities at Union
Creek Reserve in order to pro-
vide improved infrastructure for
visitors and residents of Inagua.

BNT deputy executive direc-
tor Lynn Gape and director of
parks and science Tamica Rah-
ming met with Dr Alan Bolten
and Dr Karen Bjorndal of the
Archie Carr Centre for Sea Tur-
tle Research, who have been
conducting sea turtle research
at Union Creek for more than
30 years.

Initial discussions proposed
a plan that would include inter-
pretive signs, a covered seating
area and the introduction of a
composting toilet.

The group is also completing
a proposed outline of suggested
nature oriented activities that
can take place at Union Creek
and the surrounding areas.

The activities that are being
developed include kayaking
trips to Sheep Cay or Roller
Cay, hiking across Red Pond to
freshwater ponds and bird
watching at Union Creek,
where one can see Greater
Antillean Bullfinches, Bahama
Parrots and American Oyster-

Bolten at "Union Creek Reserve

catchers along the rocky shore.

Union Creek has been the
site of internationally famous
sea turtle research and the creek
itself provides a safe environ-
ment for juvenile green and
hawksbill turtles who spend
four to five years of their lives in
the creek feeding before head-

. ing out to live in the oceans. ©

“The story of Union Creek is
one of the great successes in our
BNT history.” said Lynn Gape.

LOCAL NEWS

BNT initiates planning at Union Creek
Resetve and Inagua National Park

i) NIXIN, , Dr Karen Biomndal Tamtica Rahniing and Dr Alan

“We want to share this story
with guests and residerits who

visit Union Creek and make it |

part of the visitor experience.”

“The trust wants to provide a
standard for national parks
around the country.” said Tami-
ca Rahming. “We feel that
improved signage to create an
awareness of the scientific
research conducted at Union
Creek, as well as working with
the community to develop activ-



Consolation Prizes

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THE TRIBUNE

@ NIXIN, Dr Karen Bjorndal, Tamica Rahming and Dr Alan Bolten at Union Creek Reserve
discussing upgrading facilities at the reserve

ities that utilise the environment
of the reserve without negatively
impacting the sensitive research

‘area will serve as a model for oth-

er parks in the country.

The trust held a special com-
munity meeting in the evening
featuring Dr Bjorndal who gave
a presentation on the 33 years
of research that has taken place
at Union Creek.

Wate rand Sewerage ‘marks 31 years

Sd beascsscsccsaeciee Meena daaaassbesdasescassseas

Mrs Gape ended the pro-
gramme with a presentation
that highlighted the resources
that are protected .in the Inagua
National Park and encouraging
residents to identify needs they
have in developing sustainable
tourism initiatives that would
use the parks.

“During our 33 years of
tesearch at: Union ce the

PrerrEEerery

people of Inagua have always
welcomed us warmly and we
are delighted to work with the
Trust in developing sustainable
tourism initiatives at Union
Creek.” said Dr Bjorndal. ?

Dr Bjorndal and Dr Bolten
serve as scientific advisors to
the Trust and Dr Bolten is the
chair of the BNT’s Scientific
eNO Committee. e
? a

Ad dedadannasesaaaes re sdeedssasaeaes, baa eaaaacaecenaiease

& ELWOOD Donaldson, senior assistant general manager of internal control and compliance at
WSC, presents the first slice of birthday cake to Agnes MePhee while employees, including are
Swann, Tyrone Miller and Donna Johnson, look on

‘SATURDAY marked 31
years of operation for the Water
and Sewerage Corporation.

To celebrate, the corporation
has proclaimed July Customer
Appreciation Month and has
taken to the airwaves and media
to reconnect with customers
and former employees.

The corporation also gave
special Peco oniHOn to retired

(Photo: TCL/Terrance Strachan),

clerk Agnes McPhee, who
worked with the corporation for
30 years before retiring in 1998.

“Mrs McPhee, was every-
body’s sister and mother. She
was a special lady. You could
ask her to do anything and she
would do it,” said Sidney Camp-

bell, senior manager of revenue

operations for WSC.
Mrs McPhee said she enjoyed

working with the corporation
and when she retiréd she was
treated to a party, given a telé-
vision set and a microwave in

‘addition to her pention.

She urged all employees at

' the corporation to do well and

give thanks in everything.

“If you please God, he will
help you to do your work yell. ee
she said.

eeneeeeeees Faden eden dad eeneneseeennenesenenneneeneenens

GB Health ears top employee named

li YVONNE Clarke, of Grand Bahama Health Services, was 15 presented with the Public Hospitals
Authority's Employee of the Year award (2007-2008) at the second annual employee recognition
and long service awards ceremony at Government House on July 12. Shown from left are Minister
of Health and Social Development Dr Hubert Minnis; Veta Brown, Public Health Authority
chairwoman; Employee of the Year Ms Clarke; Governor General Arthur Hanna; Herbert Brown,
Public Health Authority managing director.

'





“au




WEDNESDAY, JULY 18, 2007

B BUSINESS



= ) FIDELITY

HELPING YOU CREATE AND MANAGE WEALTH







‘NASSAU OFFICE
Tel: (242) 356-7764




FREEPORT OFFICE
Tel: (242) 351-3010





business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street







Government approves
1,000 acre hotel project

* Long Island development next to Stella Maris to be mixed-use property
featuring hotels, marina/canal property, golf course, commercial village
* Bahamasair expected to resume Long Island flights by year-end

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

overnment has

approved a

multi-million-

dollar mixed-

use . resort

development next to the Stella

Maris Resort on Long Island,

Tribune Business learnt yes-

terday, although the identity

of the UK-based investor
group remains unknown.

George Friese, who operates

@ BYRON Woodside, minister of state for youth, sports and cul-
ture; Ross McDonald, head of Caribbean banking, RBC Royal -

the Stella Maris Resort, said
an investor had purchased
1,000 acres of land next to his
property for the construction
of a large development. The
project will include a mari-
na/canal property, golf course,

commercial village and one or °

two apartment-style hotels.
Mr Friese said the land in

question was the last unoccu-

pied property in Stella Maris,

and the investor group is now

securing all the relevant docu-

_ ments, permits and approvals -

such as subdivision approvals -
needed to proceed.

Bank of Canada; Larry Cartwright, Minister of Agriculture,
Marine Resources and Small Business; Edison Key, chairman

of BAIC; Nathaniel Beneby ur.,
head, RBC Royal Bank of Canada.

vice-president and. country

See full story on Page 7

a ee .

hes
if
'

CLICO (Bahamas)

Tribune Business Editor

CLICO (Bahamas), the
Bahamas-based life and health
insurer, saw its net income
decline in 2006, according to
an international insurance rat-
ing agency,
expressed concern about its
“high loan exposure” to group
affiliates.

In reaffirming CLICO
(Bahamas) financial strength
rating of B+ (Good) and a sta-
ble outlook, and giving the
company a bbb- issuer credit

Policy rleeded to address

which also.

net income drops

~ M By NEIL HARTNELL

rating, A. M. Best said it was
taking into account the fact
that the company was a sub-
sidiary of Trinidad-based CL
Financial Ltd, the well-known
financial services provider.
This ownership, coupled
with “overall insurance premi-
um growth and modest prof-
itability”, and the ability gain
efficiencies by drawing on its
parents’s information technol-
ogy, administration, actuarial
and investment resources, had

_SEE page 6

the Freeport ‘void’

@ By NEIL HARTNELL
Tribune Business Editor

POLICYMAKERS have
“never properly” addressed
the Hawksbill Creek Agree-

- ment, the Grand Bahama

Chamber of Commerce’s pres-
ident said yesterday, warning
that a “void” would always
exist on bonded goods. unless
standard practices and proce-
dures were agreed upon and
introduced.

In a letter to the editor, pub-
lished on Page 2B of today’s

Business section, Christoher '

Lowe, who is also Kelly’s
(Freeport) operations manag-
er, said the Supreme Court rul-

ing that backed the Home
Centre - and effectively now
allows it to bring in its entire
inventory bonded - did not
close the matter.

“T would contend, however,
that the issue is far from over,
and that until there are stan-
dards of procedure and prac-
tice available to all licensees
there will be more confusion
and arbitrary action taken by
Bahamas Customs,” Mr Lowe
wrote.

“T note, for example, that
having read the 65-page deci-
sion handed down, and inci-

SEE page 5

Mr Friese said the Bahamian

holding company for the pro-

ject was named Port St
George, but added that he was
not at liberty to reveal the
investor group’s identity,
although sources suggested
that the principals may be
based in the UK.

It is also unclear what the
project’s investment value is,
although some sources have
suggested it is between $40-
$55 million, and that may have
been for the land purchase
alone.

ject was approved by the
Ingraham administration with-

-in 30 days, having been await-

ing approval from the former
government for over one year.

The UK investor group is
being represented by Freeport:

based attorney Bradley Cal--

lender, who did not return The
Tribune’s call seeking com-
ment. Nor was any reply
received to an e-mail sent to
the UK investors.

The news of a major invest-
ment for Stella Maris comes

‘on the heels of Long Island

experiencing major economic

hardship as a result of the pro-
longed restrictions at the
island’s airport.

The airport was closed in

February 2006 for repairs to

the runway, which had a dev-
astating effect on Long Island’s
two major resorts, Cape Santa

Maria:and the Stella Maris -

Resort, and spin-off business-
es.

Even with the airport’s re-
opening, Bahamasair has not
yet resumed service, although
some charter flights, such as
Southern and Pineapple Air,
are able to bring in tourists.

Mr Friese said yesterday that
although the situation at Long
Island’s airport has had a
severe impact, he was confi-
dent the situation will be
improved.

Mr Friese said that the for-
mer administration worked
hard to address the airport
issues, and the new govern-
ment has indicated that
remains a top priority for them
as well.

Mr Friese said it was expect-
ed that Bahamasair: will
resume service to Long Island
by the end of the year.



















It is understood that the pro- -

Tribune Business Editor:

» SIR Jack Hayward has denied signing
a document that the late Edward St
George’s estate is relying on to prove
that it owns 50 per cent of the Grand
Bahama Port Authority (GBPA) and
Port Group Ltd, and alleges that if he
did sign it he was unaware of what it
meant or was “induced” into into believ-
ing it was “a routine document”.

_ In his defence and counterclaim in the
legal dispute over the GBPA and Port

Group Ltd’s ownership, Sir Jack denies
the St George estate’s assertion that he








Sir Jack: I did not sign 50/50
| Port ownership documentation

_ @ By NEIL HARTNELL

signed a March 11, 1982, document
addressed to Don de la Rue; the then-
president of the two companies’ holding
vehicle, Intercontinental Diversified Cor-
poration (IDC).

In its statement of claim for the July
25-27 trial, the St George estate said the
letter set out an agreement between the
late Mr St George and Sir Jack on how
IDC and its subsidiaries, tagging the
GBPA would be run.

The St George estate alleged: “It was
agreed that if Mr St George ran the IDC
operation full time, he would obtain a
50 per cent holding in the company........

The letter was signed by both Sir Jack









Hayward and Mr St George.”
The document stated that Sir Jack and

“Mr St George, at that-date, held 525,247

and 100,000 shares respectively in IDC.
It seemingly outlined a process where
“all future dividends or proceeds of the
sale or redemption” from these 625,2476
shares would be paid to Sir Jack, until he
received total proceeds of $7.208 million
(the price needed to acquire 225,247
shares at $32 per share) plus interest at 12
per cent per annum from August 1, 1978.
This, effectively, describes an alleged

SEE page 8



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PAGE 2B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE



BUSINESS



INSIGHT

For the stories

behind the news,
read Insight
on Mondays



Dear Sir/Madam,

was very pleased to see

a statement from Ray

Simpson, the president

and chief executive of
Freeport Concrete Company
(FCC), in response to articles
in the Business section of The
Tribune.

I agree wholeheartedly with
Mr Simpson that the most
recent court ruling handed
down in favour of the Home
Centre, with respect to the
bonding of inventory, is of

YOUR CONNECTION#*TO THE WORLD

TENDER
RESEARCH COMPANY

The Bahamas Telecommunications Company Ltd. (BTC) is
pleased to invite Tenders to provide the BTC with Market
Research Assistance. Research Assistance includes; local market
scope, field work and research information on the Bahamas
Telecommunications Industry.

licensees of the Grand Bahama
Port Authority, as are all the
prior court rulings that have
addressed the same issue. I
would contend, however, that
the issue is far from over and
that until there are standards
of procedure and practice avail-
able to all licensees there will
be more confusion and arbi-
trary action taken by Bahamas
Customs.

I note that central to FCC
counsel’s arguments was a pro-
vision that a practice of paying
duty on all merchandise
stocked in-store below seven

.to eight feet, and bonding all
other stock above that height,
was in effect a standard prac-

Interested companies/firms may collect a Tender Specification
from the Security Desk located in the Administrative Building,
BTC John F. Kennedy Drive, between the hours of 9:00am and
4:00pm Monday through Friday.

of the public.

' ‘This is to my knowledge not
so, but rather was a unique
practice accepted by Bahamas
Customs with respect to one

ing a similar practice after that.

That practice, though, was
based on the assumption that
there was law in effect that said
no bonded goods could be dis-
played to the public, or the
assumption that bonded prices
could not be advertised.

To clarify and agree with Mr
Simpson, the licensees-should
read the Hawksbill Creek

The deadline for submission to tenders is on or before Friday
July 27th, 2007 at Spm. Tenders should be sealed and marked
“TENDER FOR RESEARCH COMPANY” and should be
delivered to the attention of Vice President of Marketing, Sales
'& Business Development, Mr. Marlon Johnson.

BTC reserves the right to reject any, or all Tenders.



ments, and. a five court rul-

FIRSTCARIBBEAN -

INTERNATIONAL BANK

CAREER OPPORTUNITY
for
Human Resources Manager

Nassau, Bahamas
Qualifications: |

Duties include:

* Bachelor’s degree in related field (Mandatory) ~ Masters Degree
preferred

e 5-10 years experience in Human Resources (HR). A broad
knowledge/experience base in several HR areas (e.g. consultation,
recruiting, employee relations, etc.)

¢ Knowledge of employment law and industrial relations

e PC skills: Advanced Excel and Word mandatory

General Responsibilities (not all inclusive):

/Y Employee Relations - Provide guidance to managers & supervisors ©
in supporting proactive HR plans, products or activities. The incumbent
will develop an understanding of the client’s business and a relationship
with managers & supervisors and other staff within the client units
by maintaining a close consultative relationship

V In consultation with the HR Head, provide input into strategies,
policies, procedures and new initiatives to ensure they are consistent
with overall Bank strategy and objectives

Y Provide operational management of on-going activities in the delivery
of services (compensation, HR administration), including the
supervision of some HR staff :

Â¥ Provide support to the HR Business Partner in all IR negotiations and
strategy development

/ Responsible for all entry-level recruitment includifig management of
requests from the business and the FirstStart Initiative

v Provide guidance and counsel on hiring and discipline practices

Y Plans human resources activities and ensures they are carried out to

service standards

clients.

Remuneration:

e Salary commensurate with management position at the FC Level 6
(Note: 1 - 11 job levels)

¢ Benefits- attractive salary, six weeks vacation, tie cated loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefit.

Applicants are requested to submit their resume with a cover letter via
email by July 23rd , 2007 to: siobhan.lloyd @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their interest,
however only those under consideration will be contacted.

Vacancies are open to Bahamians only.



great importance to all.

tice, as it was out of the reach

licensee, with another adopt-

“~wapreement’and its amend- ~




| LETTER TO THE

BUSINESS EDITOR

ings handed down, as they are
of great import to all licensees.
However, once read there will
still be confusion, as the written
does not resemble the practice.

I note, for example, having
read the 65-page decision
handed down, and all of the
prior rulings pertaining to this
subject, that there is still no

common understanding of the -

practice of the bond. As the
ruling states, there is no provi-
sion anywhere in any Act that
provides for the over-the-
counter-bonded sales of mer-
chandise. We operate in a void,
a void that has evolved over

" time.

There is still much work to
be done, and I as a licensee and
as president of the Grand
Bahama Chamber of Com-
merce intend to provoke
thought and action on behalf
of all licensees, not just those
with the finances to project
their own agendas.

As for Kelly’s Freeport, we
are not disturbed by the Home
Centre’s apparent ability to
henceforth bond their entire
inventory, as we will be the
least affected by this newfound
right or privilege, being a very
competitive and long-standing
licensee of excellent repute. So,
having won the right, I assume
the Home Centre will do just
that, as will Kelly’s and all oth-

‘er over-the-counter-bonded

goods merchants.

But we will still work
towards a more open dialogue
with the Port Authority, Min-
istry of Finance and licensees
for a.greater and more level

" playing field here in Freeport.

This effort was started last year

under the auspices of prior .

Chambér Ppresident*Doswell



~Coakley, John Rolle’“of _ Frei

ne

Chamber president
replies over bond

Bahamas Customs and Julian
Francis, the then chair of the
Port Authority. Although only
one meeting was held, and held
primarily to resolve the revo-
cation of the over-the-counter
bond letter practice, it was
thought by al]. present that it
was productive and enlighten-
ing, as these very questions of
display and advertising were
taised, along with the acknowl-
edgment by Mr Rolle that
there was no basis in law or
any rule against the practice.

In fact, the question of bond-
ing an entire inventroy also
came up, but unfortunately
with the removal of Mr Francis
as chairman of the Port, these
talks stalled along with much
else in Freeport.

It is unfortunate that I |

appear to be “fence sitting” to
Mr Simpson, but I can assure
you as Chamber president one
must be aware of all sides of
any given situation. And while

this ruling is generally good for.

business in Freeport, it is better
for some than others. If some
licensees who have funds tied
into prepaid duty on inventory
wish to attempt to recoup their
funds, it is within their right to
do so, as one must admit it
would be harder to sell at duty
paid prices than at bonded if

there is going to be a wider —

availability of bonded goods,
for company use of course.

T look forward to further.dia-
logue with everyone in our

business community, regard- ©
_less of their size, prominence

or aspirations, as we work to
compete, succeed and raise the
standards of service and prod-
uct availability in Grand
Bahama, bonded or duty paid.

Christopher D. Lowe

President, the Grand
Bahama Chamber of Com-
merce

Operations Manager, Kelly’s
forts co ee ae

BAC HER.

member of the QNB Group

Candidates should possess:

Spanish speaking skills would be an asset
Excellent salary & benefits

P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

July 20th, 2007



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

CLIENT RELATIONSHIP MANAGER

¢ Management and motivation of a small team of relationship officers
providing guidance, supervision, performance, personal development &
control of the job reportees.

Having accountability for the relevant team’s performance - ensuring
teams objectives and developments are up to date.

Cross-selling the group products in conjunction with organizations goals.

Acting as the main contract for clients on your relevant portfolio: sourcing,
collating and managing all their needs either internally or externally.

Working within a closely regulated environment one financial input to

Implementing case management strategies, together with the ability to
service high net work clients/intermediaries.

*

¢ ACIB or ABIFS diploma or degree in Banking or a related business field

Seven or more years of management experience, ideally covéring banking
and control management

Proven leadership, interpersonal and strong motivational qualities

Strategic awareness with in the private banking industry

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited

Email: hrmanager @ansbacher.bs

Deadline for all applications by hand, fax or email is

a oe



Basel
Lyondell
to merge

BUSINESS

The Miami Herald gal

MARKETS

WEDNESDAY, JULY 18, 2007

3B

INTERNATIONAL EDITION

Dow crosses 14,000 but ends session lower

BY TIM PARADIS
Associated Press

NEW YORK — The Dow Jones
industrial average swept past 14,000
for the first time Tuesday after a:
mostly tame inflation reading gave
investors reason to extend an

extraordinary — but perhaps ques-

tionable — Wall Street rally.

The stock market’s best-known
indicator crossed 14,000 in the first
half-hour of trading though it didn’t
close above that level; it did, how-
ever, manage its fourth record close
in as many sessions. The Dow rose as

high as 14,021.95, having taken just 57

trading days to make the trip from
13,000. Broader market indicators
closed mixed.

Stocks have risen fairly steadily

‘ since the spring amid a continuum of

buyout news and evidence that
despite higher fuel prices and the
ongoing problems in the housing
market and mortgage lending indus-
try, consumers are spending and
companies are still finding room for
growth. With the Federal Reserve
ever vigilant about inflation, any
news that prices are rising at a mod-
erate pace has added to the market’s
momentum, as it did Tuesday.

The release of generally upbeat
earnings reports also helped reassure
a market that had worried that a
slowing economy and rising energy

‘ prices could cut into corporate prof-

its. :
But the Dow’s latest accomplish-
ment does raise questions about

CHEMICALS



in $12.1B
cash deal

BY JOHN PORRETTO
Associated Press

HOUSTON — Dutch
chemicals company Basell and
U.S. competitor Lyondell
Chemical said Tuesday they'll
combine in a $12.1 billion cash



SETH WENIG/AP

A RECORD: A new high for the Dow Jones is seen on a billboard in
Times Square in New York, left, on Tuesday. The Dow rose as high
as 14,021.95, having taken just 57 trading days to make the trip from

13,000.

whether investors are buying more
on speculation than fundamentals —
and whether these gains can hold.
The market still faces issues includ-
ing rising oil prices that could crimp
consumer spending. And a drop in
takeover deals could puncture inves-
tor sentiment, as could a further
souring of subprime loans amid a
cooling housing market.

The past week shows how easily
swayed Wall Street can be. A week
ago, the average tumbled nearly

150 points after investors received a
handful of disappointing profit fore-
casts. Only two days later, on Thurs-
day, the Dow barreled 283 points
higher as investors put a positive spin
on a generally lackluster batch of
retail sales reports.

“One of the things we know about
the Dow being only 30 stocks is that
it is a bit less representative of the
entire market, but it is still a sign that
large-cap multinationals continue to
drive this market,” said Peter Dunay,

THE MARKETS

STOCKS, MUTUAL FUNDS, 8B

DOW30 ‘13,971.55 +2057 AX
sapsoo 8 s«sa9.37. 0s W
NASDAQ 2,712.29 414.96 AX
10-YRNOTE 5.06 +02 A
CRUDEOIL = 74.02. -is

an investment strategist with New
York-based Leeb Capital Manage-
ment. “For the moment, the momen-
tum and strength is so good. You
can’t fight it.”

Other observers were more
upbeat about the market’s recent
advance.

“You have the Dow moving up
above 14,000 and it did not take that
long, but you also have Nasdaq par-
ticipating,” said Quincy Krosby, chief
investment strategist for The Hart-
ford, noting that the:market’s rise
appears broad-based.

“It’s forcing some money on the
sidelines to come in,” she said, refer-
ring to reluctant money managers
who have been awaiting a pullback to
enter the market. “Needless to say,
the higher it goes and the quicker it
goes, the more susceptible you are to
a pullback. A pullback would be
healthy and normal.”

The Dow rose 20.57, or 0.15 per-

cent, to close at 13,971.55.

Broader stock indicators ended
mixed. The Standard & Poor’s 500
index slipped 0.15, or 0.01 percent, to
1,549.37 having set its own record
highs in recent sessions. The Nasdaq
composite index rose 14.96, or 0.55
percent, to 2,712.29.

Declining issues outnumbered
advancers by about 3 to 2 on the New
York Stock Exchange, where consoli-
dated volume came to 2.96 billion
shares compared with 2.70 billion
shares traded Monday.

Bonds fell, with the yield on the
benchmark 10-year Treasury note
rising to 5.06 percent from 5.04 per-
cent late Monday. The dollar was
mixed against other major curren-
cies, while gold prices fell.

Light, sweet crude fell 13 cents to
$74.02 per barrel on the New York
Mercantile Exchange, after trading as
high as $75.35 per barrel. Oil hasn’t
closed above $75 since last August.

The short time that it took the
Dow to pass this its milestone recalls
its ascent during the dot-com boom,
especially because it took only 129
days to make the passage from 12,000
to 13,000.

In market action abroad, Britain’s
FTSE 100 fell 0.58 percent, Germa-
ny’s DAX index fell 0.83 percent, and
France’s CAC-40 fell 0.43 percent. In
Asia, Japan’s Nikkei stock average
fell 0.12 percent.

The Russell 2000 index of smaller
companies rose 1.42, or 0.17 percent,
to 849.89.





DAVID J. PHILLIP/AP

POWERHOUSE: Richard Juarez takes a pressure reading inside a propylene oxide
styrene monomer plant at the Lyondell Chemical Channelview Complex, Tuesday, in
Channelview, Texas. Dutch chemicals company Basell’s planned merger with
competitor Lyondell would create a global powerhouse in the industry. «

"BEING.

. : Associated Pres:
ee



















i a ane world’s No. o
, _consumer, _ with -
lem d rising by about 7

ercent a year. Imports

half of this year,
Chinese companies

are stepping up efforts to
find more _ domestic

yared by 112 percentinthe

ing to the govern- —

deal to create one of the
world’s largest chemical com-
panies. It would mark the third
big combination in that indus-
try in recent months.

Just last week, Basell
walked away from a $5.6 bil-
lion deal to buy chemicals
maker Huntsman Corp. after it
was outbid by nearly $1 billion
by private equity firm Apollo
Management. Some analysts
speculated that deal fell apart
because Basell was looking at
Lyondell.

“This combination ... cre-
ates one of the top chemical
companies in the world,” Len
Blavatnik, the Russian-born,
Harvard-educated industrial-

‘ist whose firm controls Basell,

said in a statement.

Shares of Lyondell shot up
more than 17 percent to close
at a 52-week high of $47.05,
gaining $6.93. The shares had

MORTGAGES

traded in a range of $20.99 to
$41.30 in the past year.

Basell said it would pay $48
per share in cash for Lyondell,
a 20 percent premium to
Lyondell’s closing share price
Monday. Lyondell had 252.9
million shares outstanding as

of March 31. The two compa-~

nies pegged the total value of
the deal, including debt, at $19
billion.

Lyondell, based in Houston,
produces ethylene, a crucial
precursor to a range of other
chemicals, as well as propyl-
ene oxide, which is also used
in producing a variety of
chemical products. The com-
pany also operates a-refining
business.

Basell focuses on polyole-
fins, common types of plastic.
It’s owned by Blavatnik’s U.S.-
based Access Industries, a pri-
vately held industrial holding

company with investments in
the U.S., Europe and else-
where.

Wall Street analysts had
conflicting takes on the combi-
nation.

J.P. Morgan Securities ana-
lyst Jeffrey: Zekauskas said
he’d continue to hold Lyondell
shares and didn’t rule out the
possibility of a higher bid by
an integrated oil company or
foreign energy company.

“We speculate that a strate-
gic bidder could value the
refining and petrochemical
assets of [Lyondell] at $50 a
share or above,” Zekauskas
said in a research note.

Bank of America Securities
analyst Kevin McCarthy said
absent any meaningful anti-
trust concerns, he expects the
deal to close..In a research
note, McCarthy called the
combination a good strategic

fit, noting that both companies
compete in polyethylene and
that Access’ market presence
in Europe could complement
Lyondell’s position as the sec-
ond-largest ethylene producer
and the third-largest polyeth-
ylene producer in North
America.

The combined Basell-Lyon-
dell would have annual reve-
nue of more than $34 billion
and more than 15,000 employ-
ees, the two companies said.
By comparison, Dow Chemi-
cal, the largest U.S. chemical
company and second globally
behind Germany’s BASF AG,
had sales last year of roughly
$50 billion.

The Basell-Lyondell deal
was unanimously approved by
the boards of both companies,
who said they expect it to
close “in the next several
months.”

Regulators to crack down on lenders

BY ALAN ZIBEL
Associated Press

WASHINGTON — Federal and state
banking regulators on Tuesday said they
would step up their scrutiny of lenders
that make home loans to people with
shaky credit, focusing on companies that
operate outside federal banking oversight.

The pilot program announced by the
Federal Reserve, two other federal agen-
cies and state banking officials is sched-
uled to start in the fourth quarter and

affect about 12 lenders.

It will be designed to examine firms
that account for the majority of subprime
loans, a category that has experienced a
surge of defaults in recent months.

Problems in subprime first emerged in
February, when lenders HSBC Holdings
and New Century Financial reported

mounting payment defaults.

Numerous subprime lenders have
since gone bankrupt or have been sold.
Foreclosures were up 87 percent last
month from year-ago levels, real estate
information company RealtyTrac said last

week.

Congress.

Lawmakers have blasted the Fed for
lax regulation of the mortgage market
before the problems came to light.

Last month, Rep. Barney Frank, chair-
man of the House Financial Services
Committee, threatened to strip the Fed-
eral Reserve of its authority to write rules
against mortgage abuses if the central

The announcement of the program
comes one day before Fed Chairman Ben
Bernanke is scheduled to give the central
bank’s midyear economic forecast to

bank did not act quickly. And Sen. Chris-
topher Dodd, a Connecticut Democrat
and presidential candidate who chairs the
Senate Banking Committee, said in May
that a “chronology of regulatory neglect”
allowed the problems in the subprime

market to go unchecked.

Only about a quarter of subprime loans
in 2005, the most recent year available,
were made by federally regulated banks,
according to the Fed. The rest were made
by state-licensed lenders and subsidiaries
of federally regulated banks that operate
with limited federal regulation.

The agencies said they would coordi-
nate reviews of lenders and mortgage
brokers to make sure they comply with
consumer protection laws and evaluate
the lenders’ underwriting standards.

©

China, s
Janahi, chief executive offi-
cer of Gulf Finance House,
‘its main backer. a) aS
_ China’s Mideast ties are
_ growing as Beijing boosts —
oil imports to fuel its boom-
ing economy. Gulf inves-

tors, flush with revenues
from high oil prices, are
looking to China and other
thriving Asian economies
for new opportunities.

“We are here to share
the prosperity of this great _




d Esam ‘Yousi

country,” Janahi said.

The oil center, dubbed P
the International Energy —

City and located in Sanhe, a

city on the Chinese capital’s

eastern outskirts, aims to
attract foreign and Chinese
oil companies with a busi-
ness park, a Chinese-Arab
business school, laborato-
ries and executive housing,
Janahi said. He said it could
be completed within five
years.

Janahi and a Sanhe city
official signed a letter of
intent Tuesday to begin
developing the project. He
said a construction timeta-
ble and other details were
being worked out. .

Gulf Finance House and
a group of partners are
developing similar energy
industry centers in Qatar in
the Gulf and near Mumbai,
India’s commercial capital.

The Beijing project has
no tenants committed but
the bank is talking to com-
panies in its other projects,
Janahi said. He said financ-
ing is expected to come
from a group of several








in ‘China isn’t clear.
The Chinese industry i is
dominated by three giant

‘state-owned companies

that account for about 75

s percent of production. For-

eign investors are limited to
stakes of no more than 51

percent in joint ventures |

with Chinese partners.

Even major players like

Chevron and ConocoPhi-

_ lips keep only small Beijing

offices, most in the center

of the capital to be near
Ministries and state-owned

artners.

“You don’t really need a
lot of space,” said Jim
Brock, an industry consul-
tant in Beijing.
Investments in China by

the six Arab Gulf countries
— Saudi Arabia, Kuwait,
‘United Arab Emirates,

Qatar, Oman and Bahrain

— are expected to grow

rapidly in coming years.
Dubai-based port man-

ager DP World, a China

veteran with operations
here since the early 1990s,
operates facilities in five
cities and is paying for a
$500 million development

in the eastern port of Tian- |

jin.

Saudi Arabian state oil |

company Saudi Aramco is a
partner with ExxonMobil
and China’s Sinopec in a
planned $5 billion petro-
chemical refinery in south-
eastern China.

Kuwait’s state-owned oil
industry is financing a $4

billion refinery in the.

southern Chinese province
of Guangdong.

even ah ‘con- |
sumption soaring, the mar--
_ ket for oil industry facilities



MiamiHerald.com | THE MIAMI HERALD

4B WEDNESDAY, JULY 18 2007 INTERNATIONAL EDITION



















sap 500 NASDAQ 4M Dow 6-MO T-BILLS @ 30-YR T-BONDS @&+,.04 GOLD BY -30 urn Y CRUDE OIL ;
1,549.37 15 5712.29 Mt14.96 1397155 MM +20.57 4.89% +.03 5.16% $664.70 1.3784 -0000 “$74.02 13
: pr eereeeeesereeeneneesacgeaeage | : 2,800 neteesiitieetaaeg aged nie Last __ Chg Interestrates NET 1yR
Se me ce TREASURIES _YEST PVS CHG WK MO QTR AGO
2,700 Schwab 22.25 Wy 3-month T-bill 4.81 484 -0.03 = aA W 497
SeagateT 23.20 +.42 FErae] 6-month T-bill 4.89 486 +003 a A W_ 5.09
SearsHIdgs 155.17 = -.54
Sires 2,600 SempraEn 58.04 -.36 e l-yearT-note 5.03 5.00 +003 A A â„¢@ 5.22
ShawCg 46.96 +.58 A 2-year T-note 489 486 +003 aA W W_ 5.12
; Sherwin 67.69 +.98
450 - 2,500 bone Shinhan 14099 -84 5-year T-note 4.98 494 +004 A W A 5.03
: ; ‘ Shire 74.98 -.98 10-year T-note 5.07 5.04 +003 a V A 5.07.
: 3 : : E . f SiderNac 56.00 = -.09 ; ~ 12 +0.
1,400) 2S tee SB i5s.: aN Sonera S he bateetes > S&P 500 2,400 ©... Reg fei Nasdaq composite Siemens 14866 2.13 30-year T-bond 5.16 5.12 0.04 A V A 5.10
: Close: 1,549.37 Close: 2,712.29 Slcnware 1163 -.01 NET 1YR
Change: -0.15 (Flat Change: +14.96 (+0.6% SimonProp 93.61 = -.77:
1,350 Woo N eee nae e rakes sem ec reser ee seer senuereeeeensue rene eosey ge OI greyed ) ah 300 Bu As ADORSA wORes ees saqeranboeseneseesessbeudsbayesons 9 eeeesnervsenius is aNecotseve ) fe Smith&N 64.21 -.02 . BONDS YEST PYS CHG WK MO QTR AGO
J oF M A M J J J F M A M J J Smithintl 60.89 -.44 Lehman Bros Bond Idx5.21 5.18 +003 A V A 521
SonyCp = 51.92° 55 Bond Buyer Munildx 4.83 482 +001 = V A 488
SouthnCo 34.32 -.10 Lehman US invGrade 5.70 575 -005 WV WV A 515
StocksRecap HIGH LOW CLOSE CHG. %CHG. WK MO QTR YTD See Ue Lae Pree rinps lehman USHigh Vield823 831-008 A A A 861
DOW 14021.95 13942.85 1397155 ‘+2057 +0.15% A A A +12.10% - SwstnEngy 43.44 +01 Vest 8.25 5.24 MoodysBondindex 5.75 582.007 V WV A 583
MYSE:- .WASD:«|" DOW Trans. -° A206) ESET Sar SEL POS A Ng arene SovrgnBcp 21.86 +08 PREV 8.25 83] Bank Index 115.46 11496 +050 a VV 10635
DOW Util. 510.64 50664 507.01 -042 -0.08% A A A +11.00% SpectraEn 26.23 . Di.corp Bond 19683 19739 056 VA A 1B
Vol. (ih mil.) 2,962 2,125 | NYSEComp. 1021608 0166.27 10170.36 -17.82 -0.17% A A & +11.28% SonntNeRee dT ans nee Papo tee se ae
Pvs. Volume 2,706 1,725 | NASDAQ 2719.94 2701.56 2712.29 +14.96 +0.55% A A A +12.30% SPDR 15475 08
Advanced 1366. 1551 | S&P 500 1555.32 1547.74 1549.37 -0.15 0.01% A A A +9,24% SPMid’ | 167.64 4.35 ;
Declined 1893 1486 | S&P 400 926.60 920.21 921.96 +1.75 +0.19% A A A +14.62% Staples 2482 +23 | Commodities — commoprry CLOSE PVS. %CH. %YTD
NewHighs 228 181:| Russell2000 854.67 849.79 849.89 +142 +0.17% A A A +7.90% Starbucks ©2587" 21 | sae Unleaded Gas (gal) °2.10 2.13 -1.41 +31.1
New Lows 88 90 | Wilshire 5000 15717.19 1564231 15655.54 _+0.41 a id & A 49.81% StarwdHtl 7419-1 | Crude Oil (bbl) 74.02 74.15 -0.18 +21.2
StateStr 71.87 +1.48 Gold on ‘ ete eee -0.05 +4.6
. i a Platinum (oz 1325.60 1330.10 -0.34 +16.4
WidelyHeldStocks Ne ee ot oe Silver (02) 1292 1297 -039 +09
Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg StoraEnso 18.63 31 Coffee (Ib) 1.11 1.09 +1.83 -12.0
ABBLtd 24.39 «=-.36 , BostProp 10450 -62 , EMCCp 19.02 -11 | iShEAFE 83.09 -28 , NIIHidg 87.70 +1.30 | Stryker 67.53 +.04 Orange Juice (Ib) 1.27. 1.28 = -0.78 ~—-36.9
ABN Amro 50.85 -.18 | BostonSci 15.38 -.12 | -ENI 76.71 -.73 | iSRIKVnya 8883 -.16 | NRGEgys 43.94 +.04 | Suez 56.65 -.46 Sugar (Ib) 0.10 = 0.10 - = 14.9
ACELtd 61.44. -31 | BrMySq 32.14 +04 | EOGRes 7269 -36 | iShR2Knya 84.57 +.09 | NTTDOCo 1533 +02 |‘sunLffng 49.26 +29
AESCorp 22.23 -.03 BritATob 68.11 -.12 EKodak 28.42 -.10 ITT Corp 72.04 +.96 NYMEX 140.07 +1.09 | SunMicro 5.29 —--.05
AFLAC 52.59 +19 | BritSky 57.53 -.67 | Eaton 102.00 +113 | TW 5816 +15 | NYSEEur . 80.62 -229 | Suncorg 93.29 -.24
AMR 27.93 +.43 Broadcom 32.84 +.43 EchdStar 43.49 = -.43 ImpOilgs 48.78 -.27 Nabors 31.48 -.14° | Sunoco 78.97 3.35 Foreign
ASMLHId 29.91 +1.28 ‘| BrkfldAsgs 39.78 -.50 | Ecolab 43.60 -14 | ImpTob- 90.01 +.19 | NBkGreece 1255 +.01 | Suntech 4201 -.95 Exch ae GMO. —1YR.
AT&TInc 39.84 -37 | BrkfidPrs 24.09 -.06 | Edisonint 57.47 -15 | IndoTel 49.43 -52 | NatlCity 3305 -16 | Suntrst 9938 +23 Change couNTRY CHG. _%CHG. AGO AGO
AUOptron 17.51 +.55 BungeLt 84.36 = -.60 Edwards 85.93 +.04 Infineon 1848 -.01 NatGrid 72.04 -.55 Supvalu 47.50 4 Argent (Peso) 3223 —--.0000 -00 3248 -.0022
AXA 44.60 -27 | BurlNSF 90.60 +1.04 | ElPasoCp 17.49 -.05 | Infosyss 52.95 +78 | NOilVarco 112.54 -20 | Swisscom 36.07 +.01 Brazil (Real) 5377 +.0027 +50 4679 +.0858
AbtLab 53.39 -.17 CA Inc 26.24 = +.05 Elan 21.93 +.33 IngerRd 55.81 -.07 NatSemi 28.83 -.22 Symantec 19.66 -.08 b Britain (Pound) 2.0461 +.0090 +44 1.9691 +.2271
AberFitc 73.25 +.10 CBREllis 40.87 -.09 ElectArts 49.47 +1.38 Intel 26.33 +.38 NetwkAp 30.42 +.94 Syngenta 40.10 — -.08 : Canada (Dollar) 9585 = -.0004 -04 = 8525 +.0775
Accenture 41.91 -.59 | CBSB 34.43 -.44 | EDS 28.44 +.07 | IntcntlEx 166.85 -3.13 | NewellRub 29.15 -12' | Synovus 30.95 —-.08 \/ Chile (Peso) 001939 -,000001 = -.05 = .001845 +.000108
AdobeSy 41.46 +.40 CDWCorp 85.40 = -.15 Embarq 64.00 +.02 IntCtlHtl 26.22 = -.21 NewfldExp 49.96 +.5@ Sysco 32.20 -.48 : Colombia (Peso) .000519 +.000002 +.39 .000449+.000128
AMD 15.84 +12 | CGGVerit 52.77 --.89 | EmersnEls 5049 +27 | IBM 110.77 +111 | NewmtM 41.01 -10 | TDAmeritr 19.78 +.15 Dominican Rep (Peso) 0301 -.0000 -.00 .0299 - -.0004
AdvSemi 7.31. «+08 + | CHRobins 53.55 +28 | EElChile 45.46 -59 | IntlGame 36.94 -.41 | NewsCpA 2248 +52 | TDK 92.58 +.56 Euro (Euro) 1.3784 0000-00 »—:1.2932 +1262
Advantstrs 45.27 +83 | CIGNAs 5373 -.18 | Enbridge 3545 +35 | IntPap 40.18 +17 | NewsCpB 24.25 +62 | TIX 29.62 +.23 Japan (Yen) 008171 -.000038 -.47 008287 -.000363 -
Aegon 19.51 -.14 CIT Gp 55.43 +.24 EnCana 62.53 —_-.30 Intuit 29.94 = -.13 Nexengs 33.03 +.50 TXUCorp 67.40 ~—s- ++.06 Mexico (Peso) 093111 +.000381 +.41 091355 +.002036
Aetna 49.94 -.07 CMEGrp 583.75 = -2.55 Endesa 54.19 +.04 Invesco 26.83 -.30 Nidec 14.48 =-.40 TaiwSemi 11.74 +.06 Uruguay (New Peso) .0421 — -.0000 -00 = .0409-- +.0001
Agilent 39.80 -.04 CNA Fn 47.89 -05 | Enel 54.58 -.28 Ipsco g 159.85 NikeB wi 59.45 +.67 TalismEgs | 19.92 -.05
Ahold 13.50 +10 | CNHGbl 5442 -145 | EngyTEq 40.90 -.13 | JPMorgCh 49.92 +09 | NippnTT 22.21 -.05 | Target 68.52 -.37
AFrance 46.60 = -.04 CNOOC 122.50 +2.56 EngyTsfr 62.66 -21 JacobsEs 65.55 +1.64 Nissan 21.58 — -.30 TataMotors 1842 -15
AirProd . 87.89 +40 | CPFLEn 6387 +.72 | Enersis © 1880 -.40 | John 62.74 1,06 | NobleCorp 9855 -1.62 | Technip . 8352 -.77 GlobalMarkets
AkamaiT 49.14 +22 | CRH 51.45 +.06.| EnhEgYP 1843 -27 | JohnsnCtl 124.81 -1.54 | NobleEn 65.03 +92 | Teckcmgs 4869 -.22
Akzo 87.99 +21 | CSXs 48.52. -.23 | ENSCO 60.75 -11 | JoyGlbl 62.99 -1.35 | NokiaCp 30.07 +22 | TelcNZ 29.97 . +.48 | INDEX YEST CHG %CHG WK MO QTR YTD
Alcan 96.61 -33 | CVSCare 36.07 -12 | Entergy 107.77 -.14 | JnprNtwk 27.10 +14 | Nomura 1805 -14 | Telitalia 2871 +26 | S&P500 1549.37 -0.15 0.01% A A A +9,24%
Alcatelluc 14.07 -.17 | CablvsnNY 38.20 .+.58 | EntPrPt 32.85 -.33. | KLA Tne 61.78 +5.08 | Nordstrm 47.87. -.49 | TelitaliaA 22.77. +.14 Frankfurt DAX 8038.21 -67.48 -0.838% A A A +21.85%
Alcoa 46.61 -.16 CadbyS 53.47 +.11 EqtRes 51.33. +35 KPN 16.72 = -.10 NorflkSo 56.62 -.04 TelSPaulo 36.91 +1.03 _ sy
Alcon 143.44.«-+.06 | Camecogs 4674 -1.75 | EqtyRsd 4629 -38 | KTCorp 2511 +14 | Norsk 41.87 -89 | Telefesp 72.11 +78 | London FTSE 100 enero IR Shope ORR it IR SP ela ea hl
AllgEngy 55.05 -.05 | Cameron 7654 -13 | EricsnTl © 41.72 -28 | Kellogg 51.37 °-.59 | Nortellfrs 2433 41.01 | TelMexL 37.19 -119 | Hong Kong Hang Seng 23057.30 +103.36 +0.45% A A A +15.49%
AllegTch 113.44... -.37 | CampSp - 3823 -.57 | Esteeldr 47.48 +42 | Keycorp 36.71 +161 | Nortrst 67.89 +76 | TelDatalf 72.80 +208 | Paris CAC-40 6099.21 26.39 _-0.438% A A A +10.06%
Allergans 57.78 = -.52 CIBC g 94.11 +12 EverestRe 112,00 -1.56 KeySpan 4163 -.12 NorthropG 77.71 - +.71 Telkom 97.48 +1.72 Tokyo Nikkei.225 18217.27 -21.68 + -0.12% VA A_ +5.76%
AlliBern 89.87 CdnNRyg 54.87 = +.21 Exelon 17.66 = +.62 KimbClk 66.77 = -.65 Novartis 54.13 -1.32 Telus g 60.25 +.51 : ;
Allianz 23.77 -.23 CdnNRsg 69.78 = -.21 Expedia 29.60 +.10 Kimco . 3972 = -.58 NovoNdk 109.47 = -.23 Templein 65.19 +.29 SOUTH AMERICA / CANADA ;
Aldirish 56.08 © -.31 CPRwyg 73.99 -1.16 Expdintl 46.54 +.64 KindME 55.84 = -.07 Nucor 62.39 . +.10 Tenaris 49.37 -.78 .
Allstate 60.42 -.34 | Canons 5835-33 | ExpScrips 5422 +34 | Kinrossg 13.21 +.03 | Nvidia © 4650 -20 | Terex 9350 -.63 ee fehl ere pes esc : ; ae
Alltel 67.62. -23 | CapOne 76.39 +19 | ExxonMbl 89.09 -.61_| Kohls 66.96 -115 | OcciPets 60.27 -1.27 | Ternium . 3224 +25 Srico re ity, Borsa : : : :
AlteraCp if 24.89 +59 | CardniHith 71.28 +37 | FPLGrp . 5800 +51 | Kookmin 91.50 -.46 | OffcDpt 29.76 +08 | Tesorowi 55.05 -2.45 | Sa0PaoloBovespa 57659.65 +285.25 +0.50% A A A +29.65%
Altrias 71.28 += -.03 | Carnival 47.64 «= -.07_ | FannieMIf 65.84 +.30 | KoreaElc 2518 -.16 | Omnicms 53.24 -.67 | TevaPhrm 4385 +.41 | Toronto S&P/TSX 14382.01_ +43.76 +0.31% A A & +11.42%
Alumina, 30.11) -.31 CarnUK 46.79 = -11 Fastenal 47.82 -.75 Kraft 35.87 +.35 Oracle 20.38 +18 | Texinst 39.18 +.11
AlChinas 47.69 = -.06 CarolinaGp 78.50 -.58 FedExCp 116.42 +.78 Kroger 28.91 -.26 Orix 125.75. -2.06 Textron 114.75 -1.28 ASIA
AmBevC 74.66 +66 | Caterpillar 86.47 +.57 | Fiat 32.23 +.02 | Kubota. 43.23 -.84 | PG&ECp 44.83 «= -.18 | ThermoFis 53.73 -.20 , | Seoul Composite 1949.51 . -13.42 -0.68% & A A +35,91%
AmBev 75,13 +.79 Celanese 41.29 = -.63 FidNinfo 56.70 -.97 Kyocera 109.73. +1.50 PNC 73.87 +.34 Thomson 44.15 +.20 Singapore Straits Times 3651.05 -2.18 -0.06% A&A A A +22.28%
Amazon 73.79 +10 | Celgene “5860 +.28°| FifthThird 40.65 +.15° | L-3Com™ 100.52° +.65 | POSCO ~~ 14878 +.78 | 3MCo 91.08 +21 | Sydney All Ordinaries 6418.20 -0.20 % , & & & +13-71%
Re a te ca AS oS men _pFirstData,S 32520502003... L@Philips 23.22 ....-.02,.],PPG.....80.59 +188 | Tiffany 55.76 46 | Taipei Taiex 9509.73 492.41 40.98% A A | A +421.55%
A to 1 L30" F713" | “FstSolarn” 10940. 72.65 | LSI Corp 8.25 <+.49°. | PPL Corp lL. © -43°| TWCablen 4045. #43 | cp cn nchaip . 27449. 4481. +178%). A were
Ameren 50.51. +.47 | ChesEng 35.87 +.07 | FTSpcfnn 1963 -.13_| LabCp 81.18 06 | Paccars 9456 +41 | TimeWarn 2112 +19 ale Ll dlls eee ee Te : patie
AtMoville > 64:42-° "45° -|---Chevron=—--94:10->-~1.02 - |-FirstEngy 65.53 -.41 |“ LafargeSA: 45.64. -.52 | ParkHan. 10587 +.93. | Trchmrk~ 67.14 -.66
AMovilA 64.45 -.55 | Chinalfes 59.19 4113 "| Fiserv.” ». 57.02 +22 | LamRsch 59.98 +553 | Paychex 43.91. 03 | TorDBkg 69.89 +14 d
AmCapStr 45.28 = -:52 ChinaMble 58.49 +.40 Flextrn 11.39 9 -+.12 LVSands 82.65 +1.35 PeabdyE 46.83 -1.23 Total SA 84.33 -1.00 ;
AEP 45.86 +57 ChinaNet . 54.74 = -.34 Fluor) =. 119.73 -.01 LeapWirels 95.71 +.55 | Pearson 17.07 +.09 | Toyota 123.97 -1.87 Largest Mutua Fun ° .
AmExp 64.74 42.86 | ChinaPet 110.95 199 | FEMSAs 38.30 °-1.23 | LeggMason 101.78 +.72 | PennWstg 3408 ~-.06 -| TrCdag 3619 +.62 12-M0 12-M0 12-0
AmintGp if 69.66 -.13 ChinaTel 59.33 -.66 FordM 8.73 -.13 LehmanBr 73.06 = +.26 Penney 74.48 +.16 Transocn 105.92 -1.17 | NAME NAV CHG %RTN | NAME NAV CHG %RTN | NAME NAV CHG SRTN
AmStand 63.34. +214 | ChinaUni 17.84 +.30 || ForestLab 45.46 -1.17 | LeucNatl 39.17 +19 | PepsiBott 35.68 -55 | Travelers 5300 -.41 2
AmTower 43.76.27. | Chubb 52.72 -43 | FortuneBr 8278 -.19 | Level3 6.12 04 | Pepsico 66.40 -.59 | Tribune 29.73 +08 | AIM Fidelity DivrEqinA m 14.71 -.02 +31.4
Ameriprise 66.35 +86 | ChungTel 1930 +13 | FosterWh 117.59 -1.20 | LibGlobA 44.65 +.56 | Petrocg 57.10 -27 | Turkcell 17-71 +32 | ConstellA m 28.78 044283 | 500IndxAd 10746 01 427.8) Schwab
AmeriBro 50.24 «+45 |: CinnFin 43.70 = -.21 | FranceTel 2836 -.12 | LibGlobB 44.81 +.21 | PetChina 15649 -.02 | Tycoklecn 38.86 -.44 paeae cae on Gass UsEqindx! Bee aarg| YidPlssel. 9.66. 456
Amgen 55.59 -.44 | Cintas 40.55 +12 | FrankRes, 143.95 +3.23 LibGlobC 42.49 +.12 PetrbrsAS 60.17 +.76 | TycolntlIn 49.76 -.67 A i. Funds oy ih First Eagle : nu"! Selected
Amphenols 37.95 +.88 | Cisco 29.73. -.16 | FredMac 61.47 +.17 | LibtyMintA 22.92 -.04 | Petrobrss 69.24 +.67 | Tyson 23.47 -31_ | AmcapA m 22.13 +.02 +238 | GIbA m 50.18 11 424.8 | AmerShS b 50.54 +.02 +26.4
Anadarko 52.46 +.14 | Citigrp 52.46 +27 | FMCG 91.90 -1.04 | LibtMCapA 125.50 +.65 | Pfizer 25.96 -.12 | UBSAG 61.10 -.88 | Balam 2033... +20.7 | OverseasA m 27.77 -.10 +25.4] T Rowe Price
AnalogDev 39.00 -26 | CitrixSylf 35.11 +.32 FresenM 45.68 -.65) | _ LillyEli 56.40 -.49 | PhiILD 59.00 +45 | UPMKy 25.00 —-.36 BondA m - 13.16 -.02 +6.3 | FrankTe BiChpGr 40.45 +.12 +30.7
AngloAm 31.57 ~~ -.40 ClearChan. 37.76 = -.05 Fujifilm 43.03 -.47 Limited 27.23 -.04 PhilipsEl 44.58 +.83 UST Inc 52.26 +.02 CapincBuA m66.35 -.08+285|CATFAm 7.22... +47] CapApprec 22.41 -.02 +229
AnglogidA 43.05 +.18 ClearCh 28.54 +.08 GameStops 41.61 -.46 LincNat 69.15 -.32 PitnyBw 47.34 +.80 UltraPt g 56.80 +.05 CpWidGriA m 47.89 -.07+38.2|}FedTFAm 1191 .. +43) Eqindex | 4156... +27.5
Anheusr 50.32 -.47 Clorox 62.77 = -.24 Gannett 54.85 -10 LinearTch 38,22 +.45 PlainsAA = 63.95 —s-.73 UUniao 128.58 +.51 EurPacGrA m.54.14 -.18+39.5| IncomeA m 2.76 | ... +20.2) Eqtyinc 31.97 -.02 +28.5
AonCorp 41.27. -.37_ |. Coach 49.12 +28 | Gap 1878 -13 | LloydTSB. 47.05 +.30 | PlumCrk.: 43.13 +.04 | UnilevNV 32.58 -12 | FundminvA m45.61 +.01+29.8 | IncomeC m 2.77 -.01+19.5) GrowStk 35.53 +.07 +32.0
Apache 85.56. -.10 | CocaCE 2373 -48 | Garmins 80.00 -2.74 | LockhdM 98.56 +176 | PoloRL 100.35 +68 | Unilever 33.56 -.03._ | GrowAmerA m37.10 +.02 +26.2 | IncomeAdv 2.74 -.01 +205) intistk 18.92 -.10 +381
ApolloGrp’ 62.42 08 | CCFemsa 47.71 +32 | Genentch 74.74 -.45 | Loews 50.71 -38 | PortglTel 1438 4.05 | UnionPac 123.90 +1.72 | GrowAmerB ers +02 ee FrankTemp-Mutual MidCapVa 28.53 +.02 +323
Apple inc 13891 +81 | CCHellen 46.85 -23 | GenDynam, 80.73 +98 | Lowes 2986-31 | Potashs 85.82 +168 | UnBnCal 59.78 =I | thn Natn m GeO GD t2hd |e M SAZL 05 +347) widcpGr 6407 +.01 +33.4
ApldMatl 21.80 +1.18 CocaCl 53.17 -.68 GenElec 40.71 +.59 Luxottica 38.69 = -.06 PwShs QQQ 50.23 +.38 UtdMicro 3.57 -.01 InvCoAmA m 36.82 a +242 Shares Z 2881 -.04 +276 NewHoriz 36.18 +.04 +25.8
ArcelorMit 66.19 -.26 | CogTech 84.50 -118 | GnGrthPrp 5218 -54 | Lyondell 47.05 +693 ‘|. Praxair 75.85. +.08 | UPSB 75.52 -01 | MutualAm 3209 .. +263 7 | Newincome §=876 .. +5.6
ArchDan 36.06 -.42 ColgPal 68.07 = -.12 GenMills 58.34 +34 M&TBk 112.69 —s-+.57 PrecCastpt 133.41 +.97 USBancrp 32.87 = -.33 NewEconA m 30.05... +34.6 | Fan A m 15.59 -,03 +34,2| SmCpStk 37.30 +.05 +22.8
ArchstnSm 59.33 Comcasts 2818 +54 | GnMotr 36.14 -.53 | MBIA 59.85 -74 | PriceTR 55.21 +127 | USCellular 102.90 +.31 | NewPerspA m36.39 -.01 +34.9 | ForEqis 30.87 -.12 +46,0| Value 30.29 -.03 +30.9
Assurant 52.95 -5.85 Comcsps 28.05 +.57 GenuPrt ° 50.50 +.04 MEMC 59.94 -3.10 PrinFncl 61.55 -.24 USSteel 113.53 -.94 NwWridA m 58.71 -.09+54.6 | Growth A m 28.06 -.05+30.1| Third Avenue
AstraZen 56.11 -.05 | Comerica 60.96 +.19 | Genworth 3405 -21 | MGMMir 85.34 -19 | ProctGam 6268 -47 | UtdTech 76.84 +.17 | SmCpWIdA m47.79 -.03 +47.0 | Growth Ad 28.12 -.06 +30.4| Value 65.61 -.04 +25.5
Autodesk © 47.30 +.27-| CmcBNJ 3813 +.14 | Genzyme 60.69 +36 | Macys 40.03 -.11 | ProgrssEn 45.05. -.50 | UtdhithGp 53.00 . +05 | WAMutinvA m38.33 ~03+27.2 | WorldA m 21.62. +31.9! Thornburg
AutoData 48.99 -14 CVRD 51.05 +.29 Gerdau 27.51 +.26 | Magnalg 95.88 -1.01. | ProgsvCp 22.02 -.04 UnumGrp =. 25.99 -.03 Artisan Frankdin Te “| intivalA m 34.34 -.06 $44.1
AutoZone 135.60 +45 | CVRDpf 4354 +46 | GileadScis 39.23 -39 | Makita © 45.75 +90 | Protogis 5984 -41 | VFCp 95.65 +1,05 | Intl 3293-12 #378 | FndallA m 14.93 ~.04 425.4) seedy Browne
AvalonBay 120.92 -.93 CompsBc 70.35 ~—-.03 GlaxoSKin 53.12 -.27 Manpwl 95.05 +.79 Prudentl 96.22 -.90 ValeroE 75.10 -.98 Ea b ° 54.69 $26.1 Harbor GlobVal “35,01 -.14 433.2
Avaya 17.14 +12 | CompSci 61.58 +133 |-GlobalSFe 71.70 -.37 | Manulifgs 3854. +.08 | PrudUK 29.82 -07 | VeoliaEnv 78.55 +26. | 0 09 we F201 | CapApinst 36.55. +11 +25.7 Vas Kampen :
AveryD 68.09 +.24 | ConAgra 26.80 -.20 | GoldFltd 17.31 -.11. | Marathons 6213 -1.07 | PSEG ORO? 27, |sNetishgs S<32A 85. | EMO? cha on aa gil atte Sgn oon el Gomstecka mdse, #084248
Avon 39.42 +57 | ConocPhil 85.98 -115 | Goldcrpg 2585 19 | MarintA 45.15 +74. | PubStrg 77.95 ~80 | VerizonCm 4226-50 | pioitnock aM a) on 4742 | EglncomeA m 965 02 420.1
BASF 136.89 +.51 ConsolEngy 47.21 -1.40 GoldmanS 219.40 -1.00 MarshM 31.04 -.22 Publicis 44.25 -67 | ViacomB 4159 ~~ -.47 GlobAlcA m 20.10 -.03 +23.4 CanAenA m 4338 -.03 +33.2| GrowincA m 4.01 «05 +269
BB&TCp 41.14.01 | ConEd 45.57. +.10 | Goodrich 62.74 +117 | Marshils 46.76 -.07 | Qualcom 45.03 VimpelCm 113.00. +50 | GlobAlcc m 1894 -.02+22.5|CpApHLSIA 59.93 -.07 +36.4 ss
BCE g 39.39 +.27 ConstellEn 92.11 -.43 Goodyear 35.35 '-.33 MartMM 160.01 ~—-.35 QstDiag 54.79 +26 | VirgnMdah 29.09 +.36 | ‘galamos DVvGrHLSIA 25.34 -.02 +31.4} 599 142.76 -.01 +27.7
BG Grp 86.09 -.73 Coopers 5850 -.13 | Google 555.00 +2.01 | MarvellTsIf 19.40 +.77 | Questars 55.17 -03 | Vodafone 3351 +.36 GrowA m — 62.73. -.07 +29.7 | Janus 500Adm! 142.77 -O1 #278
BHP BilILt 66.31 -.45 Corning 26.81 -11 Graingr 95.40: +1.07 Masco 28.37 0 +.35 QwestCm 952 +.01 Volvo s 22.13 -.52 Columbia Contrarian 20.18 +.01 +47.9 reir 31.12 4 +265
BHPBilplc 61.05 -.79 | Costco 62.13 +.28 | GrantPrde 5519 -.33 | MasterCrd 169.24 -.47 | Raytheon 5435 +43 | Vornado 113.76 +.02 | AcornZ 33.47 -.04430.9 | Growinc 43.30 -.06 +26.7| Ftd 2 s5.9e 4.08 463.9
BJ Svcs 27.33 -.49 CntwdFn 34.94 +.10 GpoSimec 15.08 +.69 Matsush 19.27. -.10 ReedElsNV 39.37 - -1.12 | VulcanM 111.26 +.18 DFA Janus 31.93 +.04 +29.5 aay ee 02 ‘50 4317
BP PLC 73.93 -01 | ‘CoventryH 59.71 +.17 |°GpTelevisa 28.50 +.47 | Mattel 26.46 -74 | ReedElsplc 53.68 -1.15 | WPPGp 75.66 -.62 | EmgMktVal 43.57 +.09+81.7 | MidCapVal 26.88... +29.1 Fire x 487 ny HB
BT Grp 68.55 +35 | Covidienn 44.00 -30 | HDFCBk 92.26 -38 | Maximhlf 35.00 +14 | RegionsFn 33.57 -.64 | Wachovia 52.36 intiSmCap 24.59 -.06 +45,3 | Overseas 55.55 +.10 +60.3 ae Berar vere
BakrHu 80.90 -.98 | CredSuiss 73.76 ~ -.12 | HSBC 93.62 +31 | McDermint 9156 -18 | ReliantEn 29.72.09 | WalMart 48.35.59 | IntlValu 26.59 -.09+47.8 | Twenty S410 048 +341) RPT Ot
BanColum 36.50 +262 | CrwnCstle 3827 +.23 | Hallibrtn 35.30 -13 | McDnids 52.16 +.06 | Repsol 40.21 -.09 | Walgrn 4453-43 | UStgVal = 27.83... +28.3 rear gy 01426.0| GNMA 998-6. #63
BeBiIVArg 25.19 -02 | Cumminss 119.20 +124 | Hanson 110.76 +.74 | McGrwH 64.21 ~43'| RschMotn 23007 +353 | WAMutl 42.36 -.7, | USSmVal_ 3209 4.06 427.7 | emt m Soon | AAU! 9.98 02 984
BcBradess 27.90 +30 | DJADiam 139.80 +34 | HarleyD 60.98.65 | McKesson 60.73 +53 | ReutrGrp 78.80 +30 | WsteMinc 39.50 +05 | DWSScudder Jit » 1636 014253] Gibe 27.06 -.05 +403
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BcSanChile 49.09 -20 | Danaher 80.24 +155 | HarrisCorp 57.53 +46 | Medtrnic 52.14 -.32 | RioTinto 301.29 -.41 | WellPoint 81.95 -.06 | wyventc m 40.70 +.03 +25.7 | IntlEq! 51.13 -23+47.21 uithcare 154.06 -56 +173
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Bkirelnd 83.74 +.20 | Dassault 62.92 -.70 | Heinz 46.31 — -.28 Merrilllyn 86.20 -1.19 RockwiAut 74.51 +.28 | WstnUnn 20.49 -.15 | podge & Cox Valueinst 85.66 +.03 +25.6] ioetoius 1.41.69 “01 4279
BkMontg 66.95 +.52 | Deere 130.90 -.70 | HellnTel 15.98 +.10 | MetLife 64.11 -.78 | RockColl 73.44 +.10° | Westpac 115.61 +69 | gal 91.39 -.02 +195 | ValuePrb 76.49 +.03 +244) | road 4938 -10 +54
BKNYMel 46.72 +.86 | Delhaize 101.44 -1.53 Hershey 50.16 = -.39 MetroPCSn 40.33 +1.97 RogCmgs 4888 +1.49 | Weyerh 82.76 +1.26 Income 12.40 -.02 +6.0 | Longleaf InstTStPl «33.78. +284
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Barclay 59.74 +50 | DeutschBk 147.53 -1.10 | Hess 65.69 -.02 | Microchp 38.45 +.39 | Rostele 59.89 +64 | WhtMtIns 575.20 -9.70 | Stock 165.88 +.05 +26.8 | Loomis Sayles int!Val 4686 -14 +406
Bard 82.69 -75 | DeutTel 1863 -.07 | Hewlett? 47.51 +.07 | MicronT 13.85 -13-| RoyalBkg 55.49 +30 | WmsCos 33.25 12 | Excelsior Bond! 1453 034124) on 131 cal 316s
BarrickG 32.06 +.19 | DevDv 5357-17 | Hilton 45.06 -.01 | Microsoft 30.78 +.75 | RylCarb ~ 40.69 -.22 | Windstrm 14.73° +.10 | ValRestrA 61.54 -.08 +34.6 | Lord Abbett Lifecro 2606 -.02 427.2
Baxter 58.77 -.01 | DevonE 7941 +26 | Hitachi 71.36 + -.33 | Milleas 41.85 -.66_| RoyDShIIB 85.51 +70 | Wipro 15.67 +.09 | Fidelity Ne eee tel titemad: © 20 G4aL7
BayerAG 78.25 06 /| Diageo 85.54 -13 | HomeDp 40.15.43 | Millicomint 96.72 -.33 | RoyDShlIA 8340 +49 | Wolseley 23.55.36 | AS{MgrSO «T7030 4177 | Ee ePUA Manz ee | widcp 22.65 4.01 431.0
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PeruCoppero 6.48 +.04 ShawCommBNV49.03 +.68 Alcaninc 100.70 -.21 ComptonPete 11.26 +.55 Siritinc o 42 +.02 EasternPlat 2.50 -.03 Value 91.98 +.02 +31.9 | RiverSource CrPIBdins =—-10.15_ -.03_ +6.1

ae he



THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 5B



Fisheries exports
decline in 2006

@ By NEIL HARTNELL

Tribune Business Editor

ahamian fisheries

exports saw their

combined value

and volume decline

slightly in 2006, with crawfish

and conch exports dropping in

value by 1.5 per cent and 19.7
per cent respectively.

The Central Bank of the

’ Bahamas report on the 2007

first quarter said initial data

for 2006 found that the total

volume of Bahamian fisheries

exports declined slightly last

year, falling by 2.5 per cent to

POLICY, from 1

dentally all of the prior rulings
pertaining to this subject, that

there is still no common under- *

standing of the practice of the
bond, and that as the ruling
states there is no provision
anywhere in any Act that pro-
vides for the over-the-counter
bonded sales of merchandise.

_ We operate in a void, a void

_ that has evolved over time.”

Mr Lowe further told The
Tribune on the over-the-
counter bonded good sales
practice: “There is no mention
of it in any legislation docu-
ment, and it is a situation that
has evolved out of thin air.
This has been an ad-hoc adap-
tation. There is nothing to sup-
port it, there is nothing to pre-
vent it.

“The rulings that have been
set down with respect to
Freeport, the Hawksbill Creek
Agreement and the licensees
address specific situations, but
the courts do not set policy. |

“Policy, has, never been set,
properly, ¥ with respect to the,

5.9 million pounds.

In terms of value, total
Bahamian fisheries exports
also fell slightly, dropping 0.3
per cent to $96.5 million.

Crawfish

Crawfish or lobster exports,
which accounted for 88.1 per
cent of Bahamian fisheries
exports by volume in 2006, and
95.6 per cent of their total val-
ue, fell slightly by 1.5 per cent
to $92.2 million.

Conch exports also dropped,
falling by.19.7 per cent to . 6
million.

Hawksbill Creek Agreement
by Nassau, the Port Authority,
and with the involvement of
the licensees.”

Mr Lowe said the Home

Centre’s attorney, Gregory.

Moss, had based his argument
that all goods stacked in the
Home Centre above seven to

. eight feet in height could be

bonded - because they were
out of reach of the general

. public - as if this was standard

practice.

Yet Mr Lowe said this was
not the case, but instead was a
practice that Customs accepted
at one licensee, with another
adopting a similar practice
after that, namely Bellevue Ltd
and Bahamas Copier.

Mr.Lowe told The Tribune
that. the bonded goods situa-
tion was “part of the larger pic-
ture of issues within” the
Grand Bahama Port Author-
ityand Freeport business com-
munity.

“It’s all part and parcel of
the same problem that ties in
with the Port Authority situa-
tion,’ Mr Lowe said, adding

that, despite, all the investment .
incentives and fige- trade zone

For the 2006 fourth quarter, .

which was the three months to
December 31, 2006, the
Department of Fisheries indi-
cated that improved average
prices boosted the total value
of fisheries exports by 14.7 per
cent to $42.2 million, although
volumes fell by 2.2 per cent to
2.3 million pounds.

Crawfish exports, which
accounted for 97 per cent of
total volume and 98.4 per cent
of total value, increased by 15.5
per cent to $41.6 million.

This was driven by a 13.6 per
cent increase in the average
price per pound to $18.55.

status, Freeport “hasn’t
worked” or fulfilled its poten-
tial during its first 50-plus
years.

He added that Kelly’s
(Freeport) would “watch and
wait” to see how the ruling
allowing the Home Centre to
now bring in inventory bonded
would work, hinting that
“when they bring in fully bond-
ed inventory across the board”,
his business would look to fol-
low suit.

“While this ruling is gener-
ally good for business in
Freeport, it is better for some
than others,” Mr Lowe wrote.

“If some licensees who have
funds tied into prepaid duty on
inventory wish to attempt to
recoup their funds, it is within
their right to do so, as one
must admit it would be harder
to sell at duty paid prices than
at bonded if there is going to
be a wider availability of bond-
ed goods, for company use of
course.”

Mr Lowe added that the rul-
ing had also noted the “de fac-
to practice of post paying duty
on the, 15th of each month, or

Within, 30 days ofsale”. ars

mare

[b+

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY

Sor

Director, Corporate Banking -

Qualifications:

Bahamas OPCO

e Graduate status with minimum of.7 years experience in the
business/financial
Ability to work effectively within and across complex matrix structures.
In-depth understanding of Corporations business, financing solutions,
issues and challenges.
A solid record of results, in business development, relationship
management and leading relationship management teams.

Focused and motivational leadership skills to galvanize a, team to work
collaboratively and effectively for customer value and profitability.
High level of understanding of the markets, geographic, macro economic
and global factors impacting our client base.
Superior ability to interpret complex corporate client needs and to
assemble innovative value-adding solution that achieve Client objectives.

General Responsibilities (not all inclusive): _

e Deliver planned targets by aggressively growing the book of profitable
business and increase the relative contribution of the Corporate Banking
to overall business profitability.
Enhance and strengthen the reputation of FirstCaribbean International
Bank and the Corporate Division in markets by developing and
maintaining an external network of key stakeholders, prospects,
community involvement, and playing a key role in the business
community at large.
Effectively lead and mentor the team of business development and
relationship managers who originate and provide business solutions
to clients in the corporate and commercial markets in the Bahamas

OPCO.

Remuneration:

e Salary commensurate with management position at the FC Level 11
(Note: 1 - 11 job levels)

e Benefits- attractive salary, six weeks vacation, preferred loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefits.

Applicants are requested to submit their resume with a cover letter
via email by July 23rd , 2007 to:
Deangelia.deleveaux @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will be contacted.





member of the QNB Group

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

CREDIT RELATIONSHIP MANAGER

Duties include:

Providing a high level of service and financial advice to new and existing
clients including liaising with customers and professional intermediaries
with regards to credit facilities.

Managing the bank credit exposures to ensure no risk.

Providing management information on the client base for monthly credit
meeting.

Enhancing the experience of existing clients by providing accessibility and
person-to-person advice.

Implementing the bank’s strategy together with the ability to satisfactorily
service high net worth clients/intermediaries.

The successful candidate must have the following qualifications and experience:

SENIOR asi ETT

ACIB or ABIFS diploma or degree in Banking or a related business field

Seven or more years banking experience of which at least four years should
be in credit administration

Previous experience in portfolio and liability administration
Strong leadership and decision making skills
Problem solving and coaching skills
Ability to manage multiple priorities
Ability to make sound credit analysis
Strategic awareness within the private banking industry
Spanish speaking skills would be an asset
Excellent salary & benefits
Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

Email: hrmanager @ansbacher.bs

Deadline for all applications by hand, fax or email is July 20th, 2007

= ) FIDELITY
invites applications for the position of
Senior Internal Auditor

SUMMARY:

In this highly visible position you will be part of a small team
performing audits on the banking, insurance and securities principles
and practices of the Fidelity Group of Companies.



RESPONSIBILITIES:

e Conducting meetings and interviews with all levels of
management and personnel.

Performance of thorough studies of business processes fol areas
under audit

Developing specific audit procedures to accomplish the objectives
of the audit to determine whether assets are adequately safe
guarded and whether policies, plans, and procedures are complied
with and whether management reports are accurate
Performance of specific audit tests and thoroughly documenting
work performed in the audit working papers

Drawing conclusions based on the results of tests performed
Arriving at feasible cost effective solutions to problems
encountered and making specific recommendations

Organizing the audit working papers in a manner conducive to
developing a report on audit results, findings, and
recommendations

Holding preliminary discussions of the audit findings and results
with operating personnel to verify facts and to ensure that every
‘one has a thorough understanding of the nature, source and
extent of the issue. Also, input and action plans of operating
personnel are obtained

Preparing reports detailing the audit results, findings, and
recommendations

QUALIFICATIONS:

To be successful in this role you will have a Bachelors degree in
accounting or a Bachelors degree in finance or business administra-
tion with advanced knowledge of accounting principles. You will
have at least 2-5 years of auditing experience and have a good
working knowledge of Microsoft Excel and Word. You will also have
strong written skills, the ability to understand and analyze opera-
tional functions, excellent problem solving skills and excellent inter-
personal and communications skills.



The Senior Internal Auditor is expected to work towards or have a professional designation
such as CPA or CIA and should be willing and able to travel about 10-15% of the year.

The Senior Internal Auditor reports directly to the Group Internal Auditor. A competitive
compensation package is offered and will include salary, benefits and bonuses.

Send resumes no later than 20th July 2007 to:

Group Internal Auditor
Jin

51 Frederick Street
P.O. Box N-4853

Nassau
Fax 328.1180





PAGE 6B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE





LEGAL NOTICE

NOTICE

FERTLINC.

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act,
2000, the dissolution of FERTL 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 was March 20th, 2007.

Anthony B. Dupuch
Liquidator

EMPLOYMENT
OPPORTUNITY

Computer Company Seeks Person to fill the position of
Computer/Network Technician.

Applicants should possess the following:-

¢ Be knowledgeable in PC Hardware and Software Repair

e Have knowledge of Troubleshooting and repairing
computer networks
Have Good Organization Skills ;
Be task & goal oriented and be able to work with minimal
supervision
Must Be Punctual

Previous experience in computer service/repair is a plus.
Interested applicants should send resumes

and other information to
techjob co

WANTED

Leading Law Firm LS Legal Gla

|Candidates ‘must have. experience in

Jone or more of the following areas:
J Conveyancing litigation, mortgages. and
general matters; be- highly proficient..in.
IMS Word & Windows; type 70+ wpm; be
j comfortable and polished with high-level
Iclients; have excellent organizational and
[follow-up _ skills.. Salary commensurate
|with experience. Please send resume and
| salary expectations to: cpfplan@yahoo. com,

lor send fax to: 323-0012

Bahamas Bus & Truck Co., Ltd

Montrose Avenue
Phone:322-1722 ¢ Fax: 326-7452

322-1722

“9 S2wk-Hi - Highest closing price in last 52 weeks

CLICO (Bahamas)

net income drops

NOTICE

NOTICE is hereby given that ANESCHKA LORRAINE
GARLAND of #145 REDWOOD LANE, P.O. BOX F-43796,
FREEPORT, GRAND BAHAMA, BAHAMAS is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 18th day of July, 2007 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



NOTICE

NOTICE is hereby given. that JAMAL MISSICK of
HOLMES 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 11th day
of July, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

LEGAL NOTICE

NOTICE
KALSCI BAHAMAS INC.

NOTICE IS HEREBY GIVEN as follows:

(a) KALSCI BAHAMAS INC. is in dissolution under the provisions
of the International Business Companies Act 2000.
The dissolution of the said Company commenced on the 17th
July 2007 when its Articles of Dissolution were submitted to and
registered by the Registrar General.
The Liquidator of the said Company is Mr Lynden Maycock of
Ocean Centre, Montagu Foreshore, East Bay Street, Nassau,
Bahamas, as sole Liquidator:
Dated the 17th day of July 2007.

H&J Corperti Services Ltd.

Registered Agent



LEGAL NOTICE.

NOTICE
KALSCI BAHAMAS INC.

(In Voluntary Liquidation)

. Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East
Bay Street, PO. Box N-3247, Nassau, Bahamas as sole
Liquidator on or before the 31st day of July, 2007. In
default thereof they will be excluded from the benefit of
any distribution made by the Liquidator.

Dated the 17th day of July 2007.

LYNDEN MAYCOCK
Liquidator

Pricing Information Ag Of: :
Tuesday, 17 July 200 7

Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark

. Bahamas Waste | oe .
Fidelity Bank ~ .
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Pre

Bahamas Supermarkets
Caribbean Crossings (Pref)

ABDAB
Bahamas Supermarkets
RND Holdings

1.346656"
3.2920°**
2.739935**
1.257576

Colina Money Market Fund
Fidelity Bahamas G & I Fund
Colina MSI Preferred Fund
Colina Bond Fund

sii
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 MARKET TERMS
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 earnings

driven A. M. Best’s rating deci-
sion.

“Offsetting these rating
strengths is CLICO Bahamas’
lower standalone net-income’





“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
- 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 4
FINDEX - The Fidelity Bahamas Stock index. January 1, 1964=100

Weekly Vol.

FROM page 1

stitute its largest asset class.”

But the rating agency added: ;

Bahamian subsidiary.



in 2006 and its high exposure! “
to affiliated loans, which con

In addition, A. M. Best cited
as “a barrier to transparency”
the fact that it had not received"!
CL Financial Ltd’s audited
2006 financial statements at the
time it-assessed and rated its

CLICO (Bahamas), previr

Best in 2005.

INSIGHT

For the stories
behind the news, |
read Insight —
on Mondays |

of business,

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, MICHELLE AMBER |

LIGHTBOURN of High Vista, in the Eastern District of the Island
of New Providence one of the Islands in the Commonwealth
of The Bahamas intend to change my ‘name to MICHELLE
AMBER KNOWLES. If there are any objections to this change.
of name by Deed Poll, you may write such objections to the Chief >

Passport Officer, RO. Box N-742, Nassau, Bahamas no later than -

thirty (80) days after the date of publication of this notice.

PUBLIC NOTICE .
INTENT TO CHANGE NAME BY DEED POLL.

The Public is hereby advised that |; LOUIS JOSEPH of -
Carmichael Road; PO. BOX N- 3739, Nassau, Bahamas

name name by ‘Deed’ Poll, you. may: write ‘such abjactions”
to. the. Chief. Passport. Officer, P.O.Box N-742, Nassau,”
Bahamas: no, later-than: ‘thirty (30). ays: alter t the date of,
publication ‘of this. notice... ;

Notice |

Pursuant to the provisions of Section 235. of the
Companies Act, 1992, as Amended, Nouee) is
hereby given that:- Sit eae aerate

CHUB CAY TOWING LTD. fi Voluntary Liquidation)
is in dissolution. ;

. Proceedings to wind-ip and dissolve the Company were
. commenced on the 27th day of June A. D, 2007.

; Mrs. Debi Williams Hancock whose aildress i is
Katherina Court, Suites 203 & 205, Lagoon Court
Building, Olde’ Towne at Sandyport; Nassau, Bahamas is

‘the Liquidator of the Pamnpany for the purpore of such
dissolution.



=a) DELITY

Ssh %

* - 6 July 2007

** - 30 June 2007
*** - 31 May 2007

«*e* = 30 June 2007




. ously known as British Fidelity,
had received a B+ financial :
2 strength tating from A. M:

. At that time, the rating"
‘agency expressed concerns '*
about the challenges the com-*
pany faced in growing its busi-
ness when challenged by com? ;
petition posed by the likes of*,
. Colinalmperial Insurance,
- Company; its high expense |
_ Structure; real estate exposure’
|. ‘in Florida and the Bahamas;,
and geographic concentration -










= oe ee

se 6 e Se SRS

Aer em Fx



THE TRIBUNE »

ree WEDNESDAY, JULY 18, 2007, PAGE 7B



BUSINESS



Royal Bank: small business

Ke? 3s

emp

By CARA BRENNEN-
‘BETHEL
Tribune Business
Reporter

he Royal Bank of
Canada yesterday
launched its Small

: Business Unit to
assist what it sees as a vital eco-
nomic sector, with at least half
the. Bahamian workforce
employed by such companies.

“Small businesses have a
major economic impact on the
Bahamas, said Nathaniel Bene-
by, Royal Bank of Canada’s
vice-president and country head
for the Bahamas.

“Right now, experts say that
at least half our workforce is
employed by small business,
and according to the Bahamas
Chamber of Commerce, 75 per
cent of its 400 members are
small business owners.

“These entrepreneurs face
unique challenges, and Royal
Bank has committed to provid-
ing educational and financial
resources to increase their suc-
cess rate and grow our econo-

«Mr Beneby said small busi-
nesses were a growing econom-
ic sector, evidenced by the fact
that the number of business
litences issued annually has
more than doubled over the
past several years_to their cur-
rent level of about 12,000.

“And there are many more

unlicensed micro businesses that «’

generate considerable econom-
ic:activity at lower income lev-
efs,” he said.

.“In fact, experts say that at
least half our workforce is
employed by small businesses.
And the cry has always been
far banks to do more to help
them by taking measured risks,
and by demonstrating a more.

said Mr Beneby.

ing small business financing,
deposit products for business,
credit/debit cards, merchant ser-
vices, payroll processing and
online Internet banking. This is
coupled with support and
advice from trained account
managers, aiming to provide a
solid resource for small busi-
ness in the Bahamas.

The Small Business Unit
manager is David Barr, an
experienced banker with over
25 years at Royal Bank. The
unit is part of the Commercial
Markets Group, headed by
George Roache, vice-president
of commercial markets. |

Mr Beneby said Royal Bank
defines a small business as an
enterprise with a credit facility
up to $500,000, and sales up to
$5 million.

| Statistics

With statistics suggesting that
half of all small businesses last

less than three years, Mr Bene- :

by said commercial banks must
continue to lend responsibly
while supporting all sectors of
oureconomy. —

He added that many small
businesses single out an inabili-

ty to access capital as their most .

frustrating obstacle.
“Others have opined that
commercial banks’ lending risk

-is essentially cash flow-based,

and that these types of busi-

" nésses need risk capital, or ven-
ture capital funding. I submit

that funding is only.a part of
the formula to establish and

‘maintain a viable small busi-

ness,” Mr Beneby said.

He added that the Bahamas
Development Bank was created
for the:sole purpose of sup-
porting and funding small to
medium-sized companies, offer-

‘ing easier and more flexible .
active interest in'théir-future,”) «credit terms compared to ‘the :

commercial banks.

‘Royal Bank’s SmuaifBusiness™*”"But; to-date;-more ci 50

‘ initiative will offer a full range
ofproducts and services, includ- |

r
®

BS/
: yf

Tae SGD e 5S ew.

per cent of the Bahamas Devel-
opment Bank’s loan portfolio

' is presently accepting applications for

: PRIVATE BANKING - HEAD EUROPEAN ASSET MANAGERS

a

was delinquent, and loan write-
offs totalled in the millions of
dollars, Mr Beneby said.

He added that the main rea-
sons for small business failures

. were a lack of proper planning,

non-existent management
expertise, undercapitalisation,
lack of proper financial advice
and financial reporting, and
absentee management.

“Clearly, these factors are
equally as important as fund-
ing, and they cannot be over-
looked, or underestimated, by
new and existing small business
entrepreneurs,” Mr Beneby
said,

Larry Cartwright, minister of
agriculture and marine
resources, with the added port-
folio of small business develop-
ment, said his ministry’s budget
has been increased, indicating
the Government’s interest and
recognition of these three sec-
tors.

As a Family Island MP, Mr
Cartwright stressed the impor-
tant role small business plays in
the development of those
economies.

However, Mr Cartwright not-
ed that to be successful on the
Family Islands, residents must
have the same basic amenities
as in the large cities, such as
electricity, telecommunications,
airports docks, roads and foods.

Mr Cartwright said the worth

of the farming and fishing sec- .

tors to the Bahamas’ growth
and development, and to its
Gross Domestic Product
(GDP), had always been under-
estimated.

He said that when you con-
sider and quanitfy these sectors’

linkages to others, such as -

tourism, transporation, ship-
ping, and seafood processing,
their contribution would be
higher than predicted.

Mr Cartwright said that given’. ©
’ the scarity of land on New Prov-*:

idence, the Family Islands must
be seen as a vital part in the
Bahamas development.

BSI OVERSEAS (BAHAMAS) LIMITED

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
, international private bank, with its headquarters in Lugano, Switzerland,

: Applicants for the position of Head European External Asset Managers

within the Private Banking Unit must have Banking or Financial education
_ and at least 10 years experience in the offshore banking sector, well versed
» in managing relationships with Professional Asset Managers, fluent in
. Italian and English, good knowledge of French, ability to manage projects,
~ perform reviews to minimize risks, efficiency oriented, lead small team of
Private Banking Relationship Officers, maintain relationships with other
: units and third parties and have knowledge of local legislation, regulatory

4
q

i Personal qualities :

©

_& statutory matters as well as international banking practices.

- Goal-oriented, self-motivated, positive attitude and outlook

resources

aa 2 epee gaeerwx = :
we ls Gece

* Responsibilities :

- Manage team

S2@¢8 «

professionals

weer

- Strong in problem solving, investigative
- Customer service oriented
- Must be able to work'under pressure
- Commitment to quality and service excellence
- Commitment to continuous training and improvement of allocated

- — Organisational skills :
- Flexibility in office hours and hands-on approach when necessary

- Review relationships with counterparts
- _ Develop allocated client segment

- Direct involvement with External Asset Managers’ clients

- Foster and maintain communication with internal/external banking

- Meet deadlines on timely basis

f : Interested persons with such qualifications should submit their
' resume/curriculum vitae to:-

é Human Resources Manager
t BSI Overseas (Bahamas) Limited
, Bayside Executive Park, W. Bay St. & Blake Road

» P. O. Box N-7130
Nassau, Bahamas

P Fax no. (242) 702 1253 or email: julie.benjamin@bsiob.com

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.

>

loys 50% of workforce

Vacancy for Chief Financial Officer



Re esponsibilities:

¢



Full responsibilities for all accounting activities including G/
L, A/P, A/R, Payroll & Purchasing
Cash flow management, financial reporting, forecasting and
budgets.
Manage relationship with current lender and fulfill monthly
‘reporting requirements
Manage year end audit and act as liaison to external CPAs
Manage annual budget process; work with senior manage-
ment to optimize budgets and financial forecasts
Directly supervising accounting staff of 10
‘Overseeing the day-to-day: operation. of the company
ualifications:
Eight to ten years of experience in financial management
with increasing responsibilities for multi-faceted direction
vand planning ;
Bachelors degree in Accounting or Finance minimum
BER a Gestenatinn a



matters

Experience in, setting up. financial controls; effective at estab-
lishing and i improving processes

‘Strong communication, analytical and management skills
Enthusiastic, positive, “can do” entrepreneurial spirit.

Interested persons should apply in writing to
‘Chief Financial Officer
P. Q Box N-SS51, Nass F Baharnas



ANSBACHER

member of the ONB Group

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

SENIOR CLIENT ACCOUNTANT

To accurately and promptly prepare periodic financial statements for
a case load of Trust-and Companies. Maintain the accounting records
in accordance with International Financial Reporting Standards.

The successful candidate must have the Jollowins eel cations
and experience:

¢ CPA certification with at least 2 years post qualification experience

e Previous client accounting experience would be preferred but is
not mandatory.

¢ As a Senior Client Accountant you will be expected to be self
motivated, have the ability work independently and have good
written and verbal communication skills

© An in-depth knowledge of Trust Accounting and experience with
complex fiduciary structures would be an asset.

0 Computer literate with high proficiency in Microsoft Office
Applications (Word, Excel, Outlook)

Salary commensurate with experience and ability
Excellent salary & benefits

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

Deadline for all applications by hand, fax or email is
July 20th, 2007





PAGE 8B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE



PORT, from 1

process where Mr St George
was purchasing shares from Sir
Jack to bring his equity holding
in IDC up to 50 per centby
assigning all dividends and

share sale proceeds to his part-
ner.

Once Sir Jack received the
required amount, he was to
transfer 212,623 shares to Mr
St George to allow him to
reach that 50 per cent thresh-

old.

However, in his defence and
counterclaim, Sir Jack alleged
that there was no writtent
agreement between Mr St
George and himself on how
IDC and its subsidiaries were

INTER-AMERICAN DEVELOPMENT BANK

Pre-selection of General Contractors for Construction
For the Retrofitting of a portion of its existing facilities at the IDB House

In Nassau, Bahamas

The Inter-American Development Bank, a multilateral financing institution
headquartered at 1300 New York Avenue, N.W., Washington DC 20577,through its
Country Office in The Bahamas located at IDB House, East Bay Street in Nassau,
invites general contractors operating in The Bahamas to submit relevant pre-
qualification documents for the modification of a section of its office. To this end,
the following information could be picked up at the IDB House, East Bay St.:

to be run, only an oral one.
He also claimed that Mr St
George’s compensation for
running IDC full-time was to
be 50 per cent of the income
generated by the company, and
“in particular there was no

agreement that the deceased

should become entitled to 50
per cent of the capital of IDC”.

In reference to the March
11, 1982, letter, Sir Jack alleged
that he “has no recollection
whatsoever” of the document
or its signing.

He “does not accept that he
did sign the said document,
and hence does not accept the
authenticity of the signature

‘purporting to be his, and
apparently appearing on the

copy of the document”.

Sir Jack alleged that had he
“seen and understood the con-
tents” of the letter he “cer-
tainly would not have signed
it”.

Denying that the document

had ever been signed, Sir Jack
alleged that even if he did sign
it, he was “unaware of its
nature or any of its terms”, and
that it attempted to record and
agreement with Mr St George.
He added that there was no
attempt to increase his former
business partner’s IDC share-
holding from 16 per cent to 50
per cent.

Alleged

Sir Jack further alleged that
he signed the letter “having
been induced and informed”
that it was a routine document
that did not require reading by
someone acting on Mr St
George’s behalf.

However, Sir Jack did admit
to the existence of another
document relied upon by the
St George estate. This one,
dated January 6, 2005, showed
that he and Lady Henrietta St
George signed a declaration

Invitation Letter _

Instruction for Presentation of Documents for Pre-Selection of Contractors
Pre-qualification Statement Form

Model for Certification of Insurability

The information submitted by the General Contractors in the Pre-qualification
Statement Form and complementary documents will be evaluated according to the
following indicators:
¢ Company profile, evidencing to have the knowledge, staff and organization
commensurate with the type and scope of the Work
Works completed in recent years that are similar to the one proposed by the
Bank, as demonstrated by references of the owners or previous experience
with the Bank.
Physical capacity to carry out the job as demonstrated by the current work .
load
Financial conditions, and,
To have implemented in documented form a Quality Control System

The Pre-qualification Statement and absonipanvine documents should be submitted
in (2) two copies, in a sealed enyelone, not later than July 264, 2007 at 3:00 PM
addressed to:

INTER-AMERICAN DEVELOPMENT BANK
Attention: The Administrative Officer
~ IDB House, East Bay Street
Nassau, Bahamas

BSi

BSI OVERSEAS (BAHAMAS) LIMITED |

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international private bank, with its headquarters in Bugan®, Switzerland,
is presently accepting applications for

PRIVATE BANKING RELATIONSHIP OFFICER

Applicants for the position of Private Banking Relationship Officer must
have Banking or Financial education and experience in the offshore banking
sector, fluency in Italian, German and French, have strong background
in KYC matters, good knowledge of international financial instruments,

ability to partner with team members, project oriented, and have thorough

knowledge of local legislation, regulatory & statutory matters as well as
international banking practices.

Personal qualities :-

Excellent organizational, communication and computer skills
Goal-oriented, self-motivated, positive attitude and outlook

Project oriented

Commitment to quality and service excellence

Able to work with minimal supervision

Commitment to continuous training and improvement of colleagues
Flexibility in office hours and hands-on approach when necessary

Responsibilities :-

Ensure KYC guidelines are applied on a day to day basis within Private
Banking unit

Organize, implement and monitor KYC and Client Relationship
Management related projects within the Private Banking Unit
Training of Private Banking allocated resources

Liaise directly with customers or their investment advisors or agents
Foster and maintain communication with internal/external pang
professionals

Meet deadlines on timely basis

Interested persons with such qualifications should submit their
resume/curriculum vitae to :

Human Resources Manager

BSI Overseas (Bahamas) Limited

Bayside Executive Park, W. Bay St. & Blake Road

P. O. Box N-7130

Nassau, Bahamas

Fax no. (242) 702 1253 or email: julie. heivaniin@belob: com

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.





NOTICE
_ FIAL IZ FUND LTD.
(FORMERLY FLETCHER SUNRISE I FUND LTD.)

_ In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, commencing on the 20" day of June,
2007. Articles of Dissolution have been duly registered
by the Registrar. The Joint Liquidators are Paul A.
Gomez and Patrick E. Smith, P.O. Box N-8285,
Nassau, The Bahamas.

All persons having Claims against the above-named
Company are required on or before the 3 day of
August, 2007 to send their names and addresses and

particulars of their debts or claims to the Joint —
Liquidators of the Company or, in default thereof,
they may be excluded from the benefit of any
distribution made before such debts are proved.

_ Dated this 12" day of July, 2007

PAUL A. GOMEZ and PATRICK E. SMITH
Joint Liquidators

that IDC’s shares were split
50/50 between himself and the
St George estate.

In addition, the declaration’. ’

purportedly shows that the St
George estate’s 50 per cent
stake was held for it by Fidu-
ciary Management Services
(FMS), the Cayman-domiciled
holding company, the issue at
the very heart of the dispute.

Sir Jack, though, said this
document was presented to
him by Ian Barry, the GBPA
and Port Group Ltd’s chief
financial officer, acting at the
St George estate’s request.

He alleged that Mr Barry
represented this as a routine
document that did not require
Sir Jack to read it, and said it
“was not and could not be any
declaration of trust” on FMS’s
behalf.

Sir Jack also denied the exis-
tence of a 50/50 partnership
between him and Mr St
George on all joint ventures,
especially when it came to sell-
ing stakes in assets held by the
Grand Bahama Development
Company (Devco) and Port
Group Ltd.

The St George estate had
alleged that when these stakes
were sold, the sales proceeds
were divided equally between |
the two.

Sir Jack denied that pro-
ceeds from the sale of affiliated .
companies were paid to Mr St
George, alleging that his busi-
ness partner “was paid what
amounted:to the dividends
which would otherwise have
been payable to IDC and on
to FMS”.

The asset sales involved:

* The 1993 sale by Devco of
a 50 per cent stake in Grand
Bahama Power Company to |
Southern Electric (now '.
Mirant), generating $35 mil- '.’
lion.

* The 1999 sale of a 50 per
cent stake in Devco to Hutchi-
son Development Bahamas,
netting a total dividend of $17
million.

* The 2000 sale of a 28.6 per
cent stake in Urban Sanitation
by Port Group Ltd to Onyx,
producing dividends of $9.428
million.

* The 2001 sale of a 50 per.
cent stake in the Freeport Con-
tainer Port by Port Group Ltd
to Hutchison Port Bahamas
Holdings, generating special
dividends of $18 million.

Vacancies for Prison Officers

Bahamas Prison Service

Ministry of National Security & Immigration |

Applications are invited from suitably qualied persons for enlistment as Prison
Officers into the Bahamas Prison Service, Ministry of National Security &

Immigration.

The applicant:

_ (a) Must be a citizen of the Commonwealth of The Bahamas;

(b) Must be between 18 and 36 years of age;

(c) Must receive a positive Vetting Report;

(d) Should have passes in at least five (5) BJC subjects including
English Language. In addition to the BJC subjects, a Trade Certificate
from Bahamas Technical & Vocational Institute (BT VI) or any other
recognized Trade School would be an asset, however, persons without
the minimum academic qualifications will be required to undergo an

entrance examination.

Successful applicants will be required to pass Medical/Physical Assessment
sprior to undergoing a period of training at the Bahamas Prison Staff Training

Centre.

All persons appointed will be required to work on a three-shift system as
follows:

Mornings :
Evenings -
Nights -

(06.00a.m. - 02.00p.m.);
(02.00p.m. - 10.00p.m.);
(10.00p.m. - 06.00a.m.);

and as such will be required to work these shifts on weekdays and
weekends as a condition of service . In this respect, candidates who are

unwilling or unable need not apply.

Applicants will initially be enlisted as Recruit Prison Officers, Scale PR10
and will receive a salary of $20,000 per annum. However upon satisfactory
completion of the required Training Programme, they will be promoted to
the rank of Prison Officer, Scale PR9( and will receive a salary in the range
of $20,600 x $600 - $30, 200. Entry point in the Scale will be determined by
qualifications.

Application forms may be obtained from the Main Gate at Her Majesty’s
Prisons, completed and returned along with the following documents to the
Human Resources Unit, Her Majesty’s Prisons, Nassau N.P. Bahamas,
no later than Monday, 23 J uly 2007.

9 Copy of Birth Certificate or Affidavit

Copy of the first five(5) pages of your Passport
4 Copies of all Academic Qualifications

> Police Record

4 2 Character References

> 2 Passport sized photographs

Superintendent of Prisons





ae

THE TRIBUNE

KPIVIG, KPMG Telephone 242 393 2007

PO Box N 123 Fax 242 393 1772

Montague Sterling Centre Internet www.kpmg.com.bs
East Bay Street

Nassau, Bahamas

INDEPENDENT AUDITORS’ REPORT
To the Shareholder of Julius Baer Trust Company (Bahamas) Limited

We have audited the accompanying balance sheet of Julius Baer Trust Company (Bahamas)
Limited (“the Trust”) as at December 31, 2006, and a summary of significant accounting policies
and other explanatory notes (together “the balance sheet”).

Management's Responsibility for the Financial Statements

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

Auditors’ Responsibility

Our responsibility is to express an opinion on this balance sheet based on our audit. We
conducted our audit in accordance with International Standards on Auditing. Those standards
require that we comply with relevant ethical requirements and plan and perform the audit to
obtain reasonable assurance whether the balance sheet is free of material misstatement.

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

We believe that the audit evidence we have obtained is sufficient and aperenrinte to provide a a

basis for our opinion.

Opinion ‘

In our opinion, the balance sheet presents fairly, in all material respects, the financial position of
- the Trust as at December 31, 2006 in accordance with IFRS.

Emphasis of Matter

Without qualifying our opinion we emphasize that the balance sheet does not comprise a
complete set cf financial : statements prepared in accordance with IFRS. Information on results of
operations, cash flows and changes in equity is necessary to obtain a complete understanding of
the financial position, performance and cash flows of the Trust.

hfoah

Chartered Accountants
Nassau, Bahamas

May 30, 2007

JULIUS BAER TRUST COMPANY (BAHAMAS) LIMITED |
Balance Sheet

December 31, 2006, with corresponding figures for 2005
(Expressed i in Swiss francs)







2006 ia: 2005
Assets
Demand deposits due from bank - group SFr 2,033,465 2,018,607
Fee income receivable | 17,377 -
Total Assets SFr 2,050,842 2,018,607

5 RS SE
Liabilities and Shareholder’s Equity |

Liabilities:

_Income received in advance SFr ae ° 5,767
Audit fees payable 14,648 “13,180
Total Liabilities _ 14,648: 18,947
Shareholder’s equity:

Share capital

Authorised, issued and fully paid - Pos

2,000,000 shares at par value of SFr1.00 each 2,000,000 2,000,000
Retained earnings/(accumulated deficit) 36,194 (340)
Total shareholder’s equity 2,036,194 1,999,660
Total Liabilities and Shareholder’s Equity SFr 2,050,842 2,018,607
Se LE GE LS a I SE TEE

See accompanying notes to financial statements.

Director

Director



Notes to Balance Sheet

December 31, 2006
(Expressed in Swiss francs)



1. Corporate information

Julius Baer Trust Company (Bahamas) Limited ("the Trust") was incorporated on July 19,
2000, and licensed to carry on trust business from within The Commonwealth oft The
Bahamas under the Banks and Trust Companies Regulation Act 2001. The Trust is a wholly-
owned subsidiary of Julius Baer Bank & Trust (Bahamas) Limited (“the Bank”) which is in
turn a wholly-owned subsidiary of Julius Baer & Cie S.A., a company incorporated in
Switzerland. The address of its registered office is Ocean Centre, East Bay Street, Nassau,

‘ Bahamas. The principal activities of the Trust consist of conducting trust and corporate
administration business.

WEDNESDAY, JULY 18, 2007, PAGE 98

2. Basis of preparation

Statement of compliance

This balance sheet is prepared in accordance with International Financial Reporting Standards
(IFRS).

Basis of measurement

This balance sheet has been prepared on the historical cost basis.

Functional and presentation currency

This balance sheet is presented in Swiss francs (SFr) which is the functional currency of the
Trust.

Use of estimates and judgements

The preparation of the balance sheet requires management to make judgements, estimates and
assumptions that affect the application of accounting policies and the reported amounts of
assets and liabilities. Actual results may differ from these estimates.

re and underlying assumptions are on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimate is revised and in any future
periods affected.

Summary of significant accounting policies

Tne accounting policies set out below have been applied consistently to all periods presented
in this balance sheet.

Financial instruments

Financial instruments comprise demand deposits due from bank — Gast: fee income
receivable, income received in advance and audit fees payable. Financial instruments are
recognized initially at fair value plus any directly attributable transaction costs. Subsequent
to initial recognition, financial instruments are measured at amortized cost using the effective
interest method, less, in the case of financial assets, any impairment losses.

A financial instrument is recognized if the Trust becomes a party to the contractual provisions
of the instrument. Financial assets are derécognized if the Trust’s contractual rights to the

_ cash flows from the financial assets expire or if the Trust transfers the financial asset to

another party without retaining control or substantially all risks and rewards of the asset.
Financial liabilities are derecognized if the Trust’s obligations specified in the contract expire
or are discharged or cancelled

Foreign currency translation

Monetary assets and liabilities in foreign currencies are translated into SFr using year-end
rates of exchange.

Impairment

*

A financial asset is considered to be impaired if objective evidence indicates that one or more
eyents have had a negative effect on the estimated cash flows of that asset. An impairment
loss in respect of a financial asset measured at amortized cost is calculated as the difference
between its carrying cost, and the present value of the estimated future cash flows discounted
at the original effective interest rate. An impairment loss is reversed if the reversal can be
related objectively to an event occurring after the impairment loss was recognized.

Related party balances and transactions

Related parties include affiliates of Julius Baer & Cie S.A., major ‘shareholders, directors 1s od
key management personnel who have the authority and responsibility for planning, directing
and controlling the activities of the Company. All balances with related parties, including
affiliated companies, are denoted in the financial statements as group.

Assets under management

No account is taken in these financial statements of assets and liabilities of clients
administered by the Trust as custodian, trustee or nominee. Total assets under administration
as at December 31, 2006 approximated SFr 1,192 million (2005 — SFr 1,113 million).

Financial instruments
Financial risk management objectives and policies
*%

The Trust’s financial instruments comprise deposits, receivables and other various items that
arise directly from its operations.

The principal risks arising from the Trust’s financial instruments are credit risk, liquidity risk,
interest rate risk and foreign currency risk. The Board of Directors reviews and agrees
policies for managing each of these risks and they are summarized below.

Credit risk

Credit risk is the risk that a customer or a counterparty will be unable or unwilling to meet a
commitment that it has entered into with the Trust. The Trust manages counterparty credit
risk centrally through the Bank to optimize the use of credit availability and to avoid
excessive risk concentration. Customer credit risk is managed through provisions against the
fee receivable balances. Credit risk is reduced as all demand deposits are due from the Bank.

The Trust’s maximum exposure to credit risk in the event the counterparties fail to perform
their obligations as at December 31, 2006 in relation to each class of recognized financial
assets, is the carrying amount of those assets as indicated in the balance sheet.

Liquidity risk
Liquidity risk is the risk that the Trust will encounter difficulty in realizing assets or
otherwise raising funds to meet commitments. The Trust monitors expected cash outflow ona
daily basis. Its policy throughout the year has been to ensure liquidity by maintaining at all
times sufficient high. quality liquid assets to cover expected net cash outflows.

Interest rate risk

Exposure to interest rate risk is the risk that arises when there is an imbalance between rate
and non rate-sensitive assets and liabilities. The Trust does not experience a great deal of risk
in this area as interest rates related to its financial assets automatically reset to market
periodically.

Foreign currency risk

Foreign currency risk is the risk that the value of a financial instrument will fluctuate because
of changes in foreign exchange rates. The Trust ensures that the net exposure to financial
assets and liabilities not denominated in Swiss Francs is kept to an acceptable level by buying
or selling foreign currencies at spot rates, where necessary, to address short-term imbalances.

Net fair value of financial instruments

Financial instruments utilized by the Trust include recorded assets and liabilities, as well as
items that principally involve off-balance sheet risk. The majority of the Trust’s financial
instruments are either short-term in natur2 or have interest rates that automatically reset to

. market on a periodic basis. Accordingly, the estimated fair value is not significantly different

from the carrying value for each major category of the Trust’s recorded assets and liabilities.
The Trust has no off-balance sheet financial instruments as of December 31, 2006 or
December 31, 2005.

5, Other‘information

On January 20, 2006, the former resident manager of the Bank, was arrested in New York
and charged by the Manhattan Federal Court for money laundering activities in connection
with the former resident manager’s position and activities in another company not belonging
to the Julius Baer Group.

The accounts of the former’ resident manager held with the aforementioned company aiid
those held with the Bank were frozen in accordance with the court order dated 2 May, 2006,
and will remain frozen until otherwise notified by court order. On March 14, 2007 after
offering a guilty plea, the former resident manager was sentenced to four years in prison and
ordered to forfeit $220,000 in proceeds.

No provision related to this’ matter has been recorded in this balance sheet.



”

PAGE 10B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE.



Exuma rents
‘exorbitant’

@ By TANEKA THOMPSON

ental fees being

charged by Exuma

landlords are

“exorbitant”, a
government minister has
acknowledged, with many
island residents complaining
that the economic “boom” due
to the influx of luxury resorts
has significantly driven up the
cost of living.

An employee at the Grand
Isles Resort & Spa in Exuma
~ told The Tribune: “Since they
[investors] brought foreign
workers over here, prices have
been going up on everything.”

The employee explained to
The Tribune that while he was
making a decent salary, the sky
high cost of renting an apart-
ment eats away at his pay
cheque.

He explained that the rental
fee for a one-bedroom apart-
ment in the area near the hotel
where he works can range any-
where from $1,000 - $1,500 dol-
lars a month.

Another employee informed
The Tribune that prices on
breadbasket items were rapid-
ly rising as well.

Sidney Collie, minister of
lands and local government,
told The Tribune that he was

aware of the “exorbitant”-

rental fees in Exuma, but
added that under the Rent
Control Act the Government
has no jurisdiction over the
prices landlords charge.

“I enfpathise with the con
sumers there, but that is what

happens in [booming] towns. ~

Prices go up along with every-
thing else,” he said in an inter-
view on Tuesday.

“Unless [the apartments]
are between $20 and $50 a
week, very low rental units,
they are not governed by the

Rent Control Act. I am aware
that the cost of rental in Exu-
ma is exorbitant, and that is
because of the prosperity that
Exuma is experiencing, so the
landlords, the persons in
charge of property and prop-
erty development, obviously
are trying to get as much mon-
ey as they can get.”

Mr Collie added that it was
an issue of “supply and
demand”, and that landlords
would continue to hike prices
as long as the public was will-
ing to pay them.

“The merchant class is trying
to make as much money as
they can. We can’t price con-
trol everything. The law has
only certain breadbasket items
and fuels which are price con-
trolled. But the high cost of
fuel in Exuma reflects the high

cost of fuel everywhere,” Mr -

Collie said.

He maintained, however,
that his Ministry was not aware
of any breaches in Exuma
relating to the price controls
on breadbasket items or fuel.
He told The Tribune that there
was a consumer affairs repre-
sentative in Exuma who was
“constantly monitoring” the
situation.

Attempts were made by The
Tribune to contact Gary Rolle,
the consumer affairs officer in
Exuma, but as of press time he

could not be reached for com-
ment.

In an interview over the
weekend, the Exuma Cham-
ber of Commerce president,
Reginald Smith, said: “Well,
yes, the cost of living is going
to rise because the products
that we are putting in are high-
end products.”

He argued that businesses
have the perception that
because of the numerous lux-
ury developments on Exuma,
they can demand top dollar on
land prices, apartment units
and merchandise.

“In terms of food stuffs and
importations, there’s some
[price] controls. I think gov-
ernment can come and help us
out with this, but for the most
part we are going to have to

be our own best critic. We’re ~

going to have to get out there
and tell [merchants] ‘No we ‘re
not going to. pay that price.”
Mr Smith said

He added that Bahamians
needed to become more proac-
tive and stand up to overpric-
ing. Mr Smith predicted that
in time, the cost of living in
Exuma would stabilise, as sup-
pliers realisede that the pub-

lic was not able to keep up

with the high prices.

“T think as reality sets in, we
are going to see those prices
come down,” he added. .

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in conjunction with the -

Ministry of Health & Social Development (MHSD) :

‘HANDICRAFT ‘STRAW’ TRAINING PROGRAM

Date: Monday, July 23 - Friday, August 3, 2007
Venue: Meeting Room, MHSD
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and readers motivates me to do
a good job. The Tribune is
my newspaper.”

ESTHER BARRY

PRODUCTION MANAGER
THE TRIBUNE

The Tribune

My Loree. Why Vlewspapn!





Full Text


Yolunie: 103 No.196





| gem PARTLY TO
See MIST SNA





BTC CEE Ts
1,000 acre hotel project

SEE FRONT PAGE OF BUSINESS SECTION

that Malcolm Adderley



may switch allegiance

@ By PAUL G TURNQUEST
‘Tribune Staff Reporter

MANY senior PLP officials
fear that PLP MP Malcolm
Adderley may soon announce
that he has switched his allegiance
to the governing FNM after
agreeing to remain chairman of
the Gaming Commission, sources
have revealed.

Mr Adderley has reportedly
agreed to stay on“as«chairman
after meeting with PLP leader
Perry Christie Monday night. Mr
Adderley, sources claim, has been
assured that he will.be promoted
to an executive chairman’s posi-
tion that should bring an increase
in salary from the normal chair-
manship of about $25,000 to any-
where in the region of $65,000.

Chief Councillor
claims the FNM is

committing ‘biggest |

act of political
victimisation in
local government’
@ By BRENT DEAN

ibune Staff ioe ;
Tribune Staff Reporter : Minister of Foreign Affairs Brent

THE Chief Councilor for the : :
Hope Town District Council is } asepet tects oe Frederick
alleging that the Ingraham gov- : Ser at ita Ma acai
ernment is in the process of } :

committing the “biggest act of
political victimisation in the his-
tory of local government.”

Jeremy Sweeting lashed out :

at government yesterday at a

SEE page nine

However, it is understood that
the generating force behind the
ofter by Prime Minister Hubert
Ingraham to Mr Adderley would
be to ensure that the remaining
Senate seat, which has yet to be
announced, would remain with
the FNM.

Therefore, if he switched sides
the FNM would control a larger
majority in the House of Assem-
bly, thus eliminating the PLP’s
chances of having any sort of
“balance” of power in the upper
chamber.

Mr Adderley was expected to
make the announcement to his
branch members last night, of
either his decision to officially
join the FNM, or to simply accept

. SEE page nine

- Senior police officer

to head ministry's
consular section

THE consular section at the

Ministry of Foreign Affairs, which
: was at the centre of an alleged

“visa scam” under the PLP gov-

ernment, will from now on be
: headed by a senior police officer.

Deputy Prime Minister and

Symonette said yesterday that the

As is practice during the usual

; running of the Ministry of For-
: eign Affairs, Mr Symonette said,
: various officers have been rotated
: and reassigned within the min-
i istry.

press conference on the poten- }'
tial firing or removal of Chris :

At the beginning of this year,
and leading up to the May 2 gen-

SEE page nine

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~ | yesterday charged

The Tribune

Che Miami Herald

BAHAMAS EDITION

| @ 28-YEAR-OLD
Jermaine Russell
appeared in court

with murder
(Photo: Tim Clarke/
Tribune staff)

@ By NATARIO
McKENZIE









A MAN, 28, of
Pinewood Gardens was
arraigned in Magistrate’s
Court yesterday, charged
with the murder of 18-
year-old Mardio Hall.






murder victim for the
year, was shot and killed
at the racing tracks at the
Queen Elizabeth Sports
Centre last week..Hall
had recently graduated
from the CV Bethel
Senior high School.
Jermaine Russell, alias
“Timer”, was arraigned
before Chief Magistrate
Roger Gomez at Court
One, Bank Lane, yester-
day afternoon on the
charge of murder. Russell
is represented by lawyers
Tamara Taylor and Mur-














SEE page nine



WEDNESDAY, JULY 18, 2007




Hall, the forty-third |.

Christie’s
political future
‘depends on

election court’

@ By BRENT DEAN
Tribune Staff Reporter

THE political future of the
PLP’s leader depends solely
on the election court chal-
lenges, a party insider told
The Tribune.

The source, speaking on
condition of anonymity said
Mr Christie will stay on in
case government is changed
by the election court cases, or

- if the prime minister calls an

election to avoid the loss of
government.

However, the source said, if
neither of these events occur,
there is no chance that Mr
Christie will stay on and lead
the PLP into another election
five years from now as the
party is uniting behind Dr
Bernard Nottage as the next

SEE page nine








using judiciary ‘as

scapegoat for wider :

social problems’
mi By ALISON LOWE '

Tribune Staff Reporter

THE executive is using the
judicial system as a politically :
expedient scapegoat for wider :
social problems as there is lit-
tle evidence that there is a :
“backlog” of cases, claimed
the president of the Bar Asso-

ciation yesterday.

Wayne Munroe alleged the :
significant numbers of per- :
sons who are being granted :
bail, supposedly as a knock- :
on effect of a judicial bottle- :
neck — a subject of con- :
tention in light of rising mur- :
der rates — in fact has much
more to do with an unwilling- :
ness'on the part of the Attor- :
ney General’s Office’s to try :
cases that are. likely to lead ;

to an acquittal.

SEE page 11



Claim that executive -



Hee double
shooting

@ By TANEKA THOMPSON



THE country’s alarming mur-
der count rose to 46 on Tuesday
morning in what many are call-
ing the “number one problem”
facing the Bahamas today.

According to a statement
released by Chief Supt Hulan
Hanna, at -approximately
4.30am on Tuesday, a double
shooting occurred in the area
of Cowpen Road and Faith
Avenue, resulting in one casu-
alty.

“Officers responded and
there they saw two male Haitian
nationals with gunshot injuries
to the lower half of their bod-
ies,” Mr Hanna told The Tri-
bune on Tuesday morning. One
of the men has been identified
as Remilite Alcinor, 49.

The victims were taken to the
Princess Margaret Hospital for
treatment. The initial reports
from hospital personnel indi-

' cated that the injuries both men

received were “not life threat-
ening.”

At around 7am on Tuesday
however, the other victim, 27-
year-old resident of Cowpen
Road, died of gunshot injuries
to. the groin area. Police have’
identified him as IIndtha Pas-
cal,

SEE page nine

Bishop Randy
Fraser trial
adjourned for
a final time

THE trial of Bishop Randy
Fraser was adjourned for a final
time as witness testimony in the
matter is nearing an end.

Yesterday Magistrate Mari-
lyn Meeres, who is hearing the
case, adjourned the case to Sep-
tember 25. Fraser was initially
charged in April 2006 with hav-
ing unlawful intercourse with a
girl 17, who was a dependent.
The trial began in July 2006.

Fraser is represented by
lawyer Wayne Munroe. Inspec-
tor Don Bannister is prosecut-
ing the case. Yesterday two
DNA experts from the United
States as well as two local police
officers were again called to
give brief testimony in the mat-
ter.

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PAGE 2, WEDNESDAY, JULY 18; 2007

THE TRIBUNE



LOCAL NEWS

ee ee
New carrier to provide ‘ more

t

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Although
Grand Bahama is losing a
major airline in September with
the departure of Air Tran, a
new carrier is expected to
replace it with a more exten-
sive service.

After seven years, Air Tran
Airways is discontinuing its dai-
ly non-stop services to Grand
Bahama from Atlanta, and
Baltimore. David Johnson,
deputy director of Tourism,
said the airline will stop ser-
vices to the island effective

September 2.

He explained that the airline,
which operated alongside the
Delta service, has not been
making a profit from the
routes, which commenced in
November 2000.

While Mr Johnson did not
identify the new carrier that
will be introduced, he stated
that the number of new seats
and number of gateways will
surpass. the service that Air
Tran provides to Grand
Bahama.

“We see this as a stronger
service that will ensure that. the
capacity we need for Grand

Bahama is maintained and, in
fact, grows above the level with
Air Tran,” he said.

Services

Mr Johnson stated that Air

Tran has been hesitant to com-
pete with Delta, which is a
much larger carrier.

The other airlines that

- presently provide service to

Grand Bahama are Continen-
tal Connection, US Airways,
United Airways, and Ameri-
can Eagle.

Tourism officials are work-

ing feverishly to revive tourism
in Grand Bahama, which is
operating with a 30 per cent
decline in hotel rooms.

The industry is struggling as
latest tourism statistics reveal
that total arrivals to the island
were down 26.5 per cent during
May 2007, compared to the
same period last year.

According to statistics, a
total of 52,039 visitors came to
Grand Bahama in May, com-
pared to the 70,777 arrivals
recorded for the same month
last year.

Tourism figures for air
arrivals were down by 3.1 per

extensive’ service to GB

cent, and cruise arrivals were
down by 34.7 per cent in May.

There were 17,785 arrivals
by air compared to the 18,351
for the same period last year,
and 34,254 sea arrivals com-
pared to the 52,426, in May
2006. :

The closure of the Royal
Oasis Resort is a major con-
tributing factor in the decline of
tourism in Grand Bahama.

The 900-room resort closed
in 2004 due to severe hurricane
damage.

The Harcourt Group is
presently in negotiations to pur-
chase the resort and reopen it.

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Over 200 Haitians
- caught in last week
in Bahamian waters



@ HAITIAN nationals onboard HMBS P-42 shortly after their
arrival at the Coral Harbour. Base early Tuesday morning.
The 70 suspected illegal immigrants were apprehended off
Warderick Wells Cay by Defence Force Marines.

MORE than 200 Haitians
have been apprehended in
Bahamian waters within the
past week according to
Defence Force officials.

‘-sy@nte 'incident'took place on

Monday. night when HMBS
P-42 intercepted a Haitian
sloop in the Exuma Chains
carrying 70 Haitians who are
‘suspected of being illegal
immigrants.

While on routine patrol just
before 10pm, the Defence
Force patrol craft, under the
command of Chief Petty Offi-
cer Whitfield Rolle, spotted
the overcrowded vessel 12
miles west of Warderick Wells
Cay.

A further investigation of
the vessel uncovered the
migrants (64 men, five women
and one child), who all
appeared to be in fair health.

“Because of the unsanitary
and overcrowded condition of
the Haitian sloop, they were
all embarked onboard the
Defence Force vessel and
brought to the Coral Harbour
Base shortly after 3am Tues-
day morning,” said the

Defence Force in a statement.
“They were eventually turned
over to Immigration officials
for further processing.”

Last week Thursday, 38



Haitians were apprehended
off Pipe Cay in the Exuma
chains and brought to the cap-
ital.

A third group of Haitians
was intercepted in Bahamian
waters on Tuesday morning.

According to the Defence
Force, a Haitian fishing ves-

' sel vas spotted carrying an

undetermined number of sus-
pected illegal immigrants in
the Exuma Cays.

HMBS P-42 was dispatched
to the scene. Crew members
apprehended the passengers
of this vessel, which was also
overcrowded, 16 miles west of
Ship Channel Cay.

Onboard were 81 men and
17 women, who all appeared
to be in fair health, the
Defence Force said.

“Due to the conditions of
the Haitian sloop, the
migrants were all embarked
onboard the Defence Force
vessels, P-42 and P-43 which
will transport them to the
Coral Harbour Base this after-
noon,” said yesterday’s state-
ment. The estimated time of
arrival was 4.45pm.

More than over 600 Hait-
ian Nationals have been
apprehended in Bahamian ter-
ritory by Defence Force offi-
cials so far in 2007.

SOME of the 70 Haitians at the Defence Force Base after
they were apprehended off Warderick Wells Cay late Mon-

day night.

(Photos: RBDF Leading Mechanic Kevin Roberts)

ne.





—O In brief

Cuba blasts
United States
for issuing
visas too slowly

@ HAVANA



CUBA chided the United
States on Tuesday for being too
slow to issue visas to Cubans
wanting off the island, according
to Associated Press.

The Foreign Relations Min:
istry indicated the dearth of visas
for Cubans could be part of, what
it sees as US President George
W Bush’s efforts to destabilise
the communist government and
warned it could lead to a spike in
illegal immigration.

Under a 1994 agreement,
Washington uses a lottery sys-
tem to grant up to 20,000
Cubans permission to emigrate
to America each fiscal year end-
ing September 30. But Cuba’s
government said Tuesday that
through June 30, only 10,724
Cubans had been granted visas
— just 53.6 per cent of the annu-
al minimum.

“It is evident a considerable
delay exists,” the ministry said
in a statement published on the
front page of the Communist
Party newspaper Granma.

“Why would (the United
States) want to make the migra-
tory situation worse between
both countries?” the statement
asked, accusing Bush of wish-
ing Fidel Castro would die and
being desperate to “force the
‘changes’ he wants to impose
on Cuba, even when they give
rise to a situation of instability
that will surely also affect the
United States.”

Castro, who turns 81 next
month, has not been seen in
public since announcing that
emergency intestinal surgery was
forcing him to step down in favor
of a provisional government
headed by his younger brother
Raul. Life on the island, howev-
er, has remained little-changed.

The US and Cuba do not
have formal diplomatic relations
but maintain interests sections -
instead of embassies — in each
other’s territories. A spokesman
at the US Interests Section in
Havana could not be reached
for comment Tuesday.

It is not unusual for US
authorities to wait until close to
the end of the fiscal year to
issue the minimum number of
Cuban visas, however, and thé
US State Department has in the
past acctised Cuba of manipu-
lating the process.

Some Cubans who get US
visas are denied exit permits by
Havana, which arbitrarily
deems them “defectors,” the
State Department says. Cuba
also regularly refuses to allow
doctors and other medical pro-
fessionals to leave even if they
have visas.

The US further claims that
Cuba collects an estimated
US$12 million per year in fees
for exit permits and medical
examinations that some US-
bound migrants have difficulty
paying.

A US policy that grew out of
the 1994 immigration agreement
is the so-called “wet foot/dry
foot,” where by Cubans who are
interdicted at sea are generally
returned to their homeland,
while those who reach US shores
are usually allowed to stay.

Cuba says the policy encour-
ages its citizens to seek risky
and illegally ways to emigrate.
Thousands of Cubans attempt
to leave the island on makeshift
rafts or people smugglers’
speedboats bound for America
every year.

The Foreign Ministry went on
to “insist” that the United States
issue at least 20,000 visas before
the deadline, scrap “wet-foot/dry
foot” and “cease the manipula-
tion of this topic for political
ends”. It also demanded that
Washington, “end the incessant
subversive propaganda and psy-
chological war against Cuba”.

The

-Way
Test

of things we
think, say or do

1.|s 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
THE TRIBUNE





9 In brief

Aircraft stolen
from Andros
discovered

by police

THE aircraft stolen from an
airport in Congo Town, Andros
on Monday has been located in
Crooked Island.

Acting on information
received from unidentified tip-
sters, police found the twin
engine, 1969 Aztec Piper in
good condition.

" Chief Superintendent Hulan
Hanna told The Tribune that
no drugs or drug parapherna-
lia were found on board the air-
craft and police have not uncov-
ered a motive behind the theft.

Police are continuing their

investigations into the matter.

Police
investigate
gun damage
to house

POLICE received informa-
tion of “damage by gunshots” to
the home of a resident of Eola
Avenue, off Poincianna Drive.

According to Chief Superin-

tendent Hulan Hanna, the com- .

plainant, Alfred McKinney, told
police that at around 11.50 am,
he heard four to five gunshots
outside his home.

Upon inspection, he discov-
ered that there was “gunshot
damage to the southern bed-
room window” of his house.

Fortunately, no one sustained
injuries during the shooting, Mr
Hanna said.

Police are following signifi-
cant leads into the matter and
are hopeful that they can bring
some “resolution” to the inves-
tigation very soon, he said.

DEA agents
arrest former
Haitian rebel
leader

@ HAITI .
Port-au-Prince

US Drug Enforcement
Administration agents arrested
a former rebel leader and pres-
idential candidate with alleged
ties to drug traffickers, Haitian
radio reported, according to
Associated Press.

US and Haitian officials
declined to comment on the
Radio Metropole report, which
cited eyewitnesses who said offi-
cers swooped down Monday in
helicopters on the home of Guy
Philippe, who helped toppled
former President Jean-Bertrand
Aristide in 2004.

Earlier, both Metropole and
Radio Vision2000 reported that
foreign-looking agents searched
Philippe’s home in the south-
ern coastal town of Les Cayes
but found only his wife.

Metropole said later that the
former rebel leader was cap-
tured in Les Cayes by DEA
officers, but the station cited no
source and gave no details on
the status of the 39-year-old for-
mer police commander who ran
for president in 2006.

Oscar Negron, a spokesman
in the DEA’s Miami Office,
declined to comment. when
reached by phone late Monday.
The DEA has in the past assist-
ed in arrests in the Caribbean
nation in conjunction with local
authorities.

Haitian Foreign Minister
Renald Clerisme said he did not
know anything about the inci-
dent. An employee who
answered the phone at the US
Embassy also declined to com-
ment, and calls to the embassy
spokesman were not immedi-
ately returned.

Philippe was the police chief
of Haiti’s second largest city,
Cap-Haitien, but fled the coun-
try in 2000 after being accused
of plotting a coup. He returned
in 2004 to help rebels topple
Aristide in a three-week upris-
ing.
Aristide called Philippe and
other rebels “terrorists,” and
accused them of ties to drug
traffickers who use Haiti and
the neighboring Dominican
Republic to reach the US.

Human Rights Watch says
that while Philippe was police
chief in the Port-au-Prince sub-
urb of Delmas from 1997 to
1999, dozens of suspected gang
members were executed by
police under the command of
his deputy.

TROPICAL
EXTERMINATORS

Me LTE
PHONE: 322-2157



PLP Chairman Raynard Rig-
by attacked Minister of Nation-
al Security Tommy Turnquest
yesterday for what he described
as Mr Turnquest’s “cavalier
and insensitive” approach to
the country’s current murder
rate.

“J, like every other consci-
entious and concerned citizen
of the Bahamas, feel repulsed
and aggrieved by the admission
of helplessness and the absence
of an immediate and sustained
and focused plan by the FNM
and the minister for National
Security, the Honorable Tom-
my Turnquest, in arresting the
dangerous and_ volatile
instances of vicious murder
now almost a daily occurrence
in our country,” he said.

The PLP chairman said that
Mr Turnquest seems to have
“thrown his hands into the air
in concession and defeat with
some foolish and indecent com-
ment that in the middle of Sep-
tember we will begin to do
some new things, to curb vio-

LOCAIL NEWS

DETR a
PLP chairman slams delay in

WEDNESDAY, JULY 18, 2007, PAGE 3



initiative to tackle murder rate

Rigby claims to feel ‘repulsed and aggrieved’ at Turnquest comments



lent crime”.

Mr Rigby said that like all
concerned Bahamians, he won-
ders if Mr Turnquest is aware
that to date there have been 46
murders — and at this rate, “lby
the time we reach the middle of
September many more of our
young men may be victims of
vicious and senseless crimes.

“This state of affairs is just
unforgivable. As a concerned
Bahamian I demand a forth-
right apology from Minister
Turnquest for his cavalier and
insensitive approach to this
national malady.

“Mr Turnquest needs to
know that the Bahamian peo-
ple who are paying him a miin-
ister’s salary every month c.an-
not afford for him to get
through his summer vacation
to deal with this issue, soine-
time in the middle of Septem-
ber,” the PLP chairman said.

l@ RAYNARD Rigby

Mr Rigby said that whether
Mr Turnquest realises it or not,
he has confessed and openly



admitted that the “bogus and
preposterous” claims he and
his FNM colleagues made dur-
ing the general election cam-
paign about their readiness for
office and their readied plans to
deal with crime were nothing
more than a “vote-getting gim-
mick”.

Responsibility

He said that now, faced with
the awesome responsibility of
putting an FNM plan into
action, Mr Turnquest has
become known as the “wait
until the middle of September
minister”.

“We in the Progressive Lib-
eral Party are highly offended
by Mr Turnquest’s indifference
to serious crime and his admis-
sion that he has no plan to
address the issue at hand.

“We too, like every other cit-
izen, call on the FNM to pre-
sent the plan which they so
fiercely touted and proclaimed
on the general election stump,”
he said.

The PLP also pointed out
that Mr Turnquest led the
“politically motivated charge”
against the “highly successful”
Urban Renewal community
offices.

“The PLP demands that the
FNM government get serious
about the real issues con-
fronting this country, rather
than the sleazy, deliberate and
nasty acts of victimisation they
are now perpetuating on gov-
ernment ministries, public offi-
cers, legitimate contractors and
Bahamians who have a right to
be gainfully employed in the
Bahamas, regardless of their
political persuasion,” Mr Rigby
said.

PLP youth wing backs Ken

@ By BRENT DEAN
Tribune Staff Reporter

ONE of the youth arms of
the PLP has officially endorsed
Ken Dorsett to be the new
chairman of the party.

Keenan Johnson, vice-chair-
man of the Young Liberals, told
The Tribune of his groups deci-
sion yesterday in an interview.

“We believe that he is a
youth orientated person. We
have spoken to him on numer-
ous occasions, and he has been

willing to support us, and he .

has been supporting us finan-
cially and physically for the
past year,” he said.

Mr Johnson said he would

: regard the selection of Mr

Dorsett as chairman as a step
ahead for the party in terms of
reaching out to the youth, and
he said that the young liberals
have already advised Mr
Dorsett that he can expect

their support if he decides to

join the race.
“He is a man who knows
what the youth need and he



Bi KENRED DORSETT
(Photo: T Aylen)

knows the importance of the
youth in the party and in the
country. And as a result, we
are prepared to first support

’ him in his endeavor to run as

chairman of the Progressive
Liberal Party,” he said.

Without criticising the cur-
rent party hierarchy, Mr John-
son told The Tribune that he
thinks the profile of young
PLPs should increase as the
party restructures. And, he
declared that Bahamians
should expect to hear more
from the group going forward.

“As the opposition we do
intend to be much stronger
vocally and state our position
on the things that affect our
nation,” he said.

Mr Johnson explained that
the Young Liberals’ decision

to support Mr Dorsett, rather .

than Glenys Hanna-Martin, is
in no way a criticism of her

‘ candidacy.

“We have no problem with
Ms Hanna-Martin," he said.
"We think that she has done. a

_ great job as minister.”

Mr Johnson also indicated
that his group will not be afraid
to comment on the more con-

troversial deputy leader and -

leader positions, should they



Cuban ambassador bids farewell



@ AMBASSADOR of the Republic of Cuba Felix Wilson
made a farewell courtesy call on Minister of Education,
Youth, Sports and Culture, Carl Bethel on Monday at the
Ministry of Education, Youth Sports and Culture on

Thompson Boulevard.

(BIS photo: Raymond Bethel)

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“Cushions

be contested.
“When the time is right, and
when we have seen the persons

and spoken to the persons who

are interested, we will make a
public statement as to who we
support. But as for now, we will
remain quiet on that issue,” he
said.

orsett

The young liberals consists of
more than 150 members, and is
considered a training ground in
the PLP for young aspiring
politicians.

Ms Hanna-Martin is the only
publicly declared candidate for
the chairmanship of the PLP
thus far.

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e-mail: www.colesofnassau.com ¢ P.O. Box N-121




THE TRIBUNE

and

PAGE 4, WEDNESDAY, JULY 18, 2007





TO TH EEDITOR

Immigration

EDITORIAL/LETTER

The Tribune Limited

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

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

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Freedoms not linked to the PLP

IN THIS column yesterday we discussed what
Senator Dion Foulkes claimed was a “mali-
cious” and “vicious” attack on the FNM, its
present leadership and “more seriously, the
founders of the FNM” by Senator Allyson May-
nard Gibson.

The attack was made last month — the
month in which the Bahamas’ independence
was celebrated. At that time Mrs Gibson decid-
ed to separate the sheep from the goats when it
. came to who supported independence for the
Bahamas. According to Mrs Gibson the PLP
were the champions of the Bahamas’ separation
from Britain, while the founders of the FNM
were not.

What she failed to realise was that in the
early days of the independence debate, her own
party leader, the late Sir Lynden Pindling, was
against the proposal, while many of the FNM’s
founding members supported it.

Anyway, independence eventually came
under the PLP banner with the late Sir Cecil
Wallace Whitfield, one of the Dissent Eight
and a founder of the FNM, against it. He was
against it not because he had a change of heart
on independence, but, like so many Bahami-

ans, he did not want independence under the

victimising yoke of the Pindling government.

In defending his party, Senator Foulkes
reminded Senator Gibson of two other issues —
the equality of Bahamian women and Bahami-
ans’ rights to move freely in their own country.

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

Although these men were not able to con-
vince the British government to give full equal-
ity to Bahamian women, they did persuade
them to stop the PLP from forcing Bahamians
to remain on whatever Out Island they were
born.

The idea that freedom of movement in one’s
own country would even be questioned will sur-
prise many of today’s freedom-loving young
Bahamians. Many were the battles in those days
for the freedoms that today’s generation take for
granted.

It ig fascinating to thumb through old files,

recall the behaviour of and political positions -

taken by today’s politicians in their younger
days and see how far they have come and what
positions they hold in today’s Bahamas.

For example under the heading “Hanna’s
lack of compromise seen as dictatorship move
— Deputy PM wanted to have citizens barred
from leaving country”, The Tribune of January
5, 1973 reported:

“Had Deputy Prime Minister Arthur Hanna

had his way at the recent constitutional talks,
Bahamians could have found themselves after
independence, barred from leaving the country
or restricted in their movements within it.

““Mr Hanna would have given us a constitu-
tion that would have put us into a dictatorship
right away,’ one delegate was reported as saying.

“Although government and Opposition del-
egates have made no specific comment on the
proceedings at the London conference, several
have privately remarked on Mr Hanna’s out-
right refusal to entertain any compromise on
any of the issues.

“One of these related to the guaranteed free-
dom to enter and leave the Bahamas.”

If Mr Hanna had had his way, Bahamians
would have been like Cubans fleeing the coun-
try at dawn or after nightfall on whatever rick-
ety piece of wood they could float.

One only has to recall the fight over the
Cuban dentists recently detained in the
Carmichael Detention Centre, and Cuba’s posi-
tion that the minds of certain of its profession-
als were Cuba’s national property, and, there-
fore, too valuable for their owners to leave the
country, to know what life would have. been
like in the Bahamas today.

Young Bahamians can only imagine the hor-
ror of the position they would be in if Mr Han-
na had won the day.

The 1973 Tribune article reports that when
the FNM delegates recommended a change;

this “provoked an outburst from Mr Hanna,
-who openly stated that the government might
“wish at a later date to restrict certain Bahamians

from leaving the country. He therefore did not
wish the freedom to leave (the Bahamas) incor-
porated into the new constitution.”

Delegates on both sides agreed that Sir Lyn-
den conducted himself “as a mature statesman”
throughout the conference, while Mr Hanna

“repeatedly threw stumbling blocks in the way

of a satisfactory settlement.”

Bahamians have the FNM, led by the late Sir
Kendal Isaacs, to thank for many of the free-
doms they enjoy today. They were backed by
the British government, which took a firm stand
on the fundamental rights and freedoms of the
individual as they were to be embodied in the
Constitution.

Today that same Arthur Hanna, considered
a stumbling block in London in the seventies, is

-governor-general of an independent Bahamas,

over a people who have the constitutional right
to move from island to island, and leave the
country at will. ;

It would be interesting to know today how
much he would still agree with the Arthur Han-
na who displayed such dictatorial tendencies
34 years ago.



development

E:‘DITOR, The Tribune.

ABACO it would seem has had
rnore of a history of the use of
irmmigrant labour than any other
island in the Bahamas. During the
colonial years workers came from
Turks and Caicos, and the Repub-
lic of Haiti to work on various
lumber and farming operations.

Many of these foreign nation-
alis, over a period of time, became
assimilated into the Bahamian
community. Certainly over the
last 30 years the immigration
changed from specific labour
importation to political and then
economic arrivals as refugees. In
these latter times the majority of
immigrants have been of Haitian
he:ritage, and in most cases have
never been allowed to achieve full
integration.

Haiti has suffered continuously
sin.ce it took its own independence
from the French. The country has
been variously shunned, ignored,
abused, and exploited by the
developed countries, never given
the: assistance, it had need of, to
bewome stabilised and self sup-
porting. It has always been con-
sidered a black pariah by the west,
never allowed to trade with the
colonial masters and occupiers.
Isclated, it has therefore had to
feed itself on itself.

“As a result of two hundred
yeairs of independence this coun-
try has depleted all of its natural
resources, and is still unable to
achieve a healthy democracy or
viable economy.

«Aid awarded, if any, has always
been self serving and indirectly
funnelled into personal bank
accounts. Yet this is one of the
mst beautiful countries of the
Caribbean, full of a richly cultured
people. Asked to describe His-
paiiola, the island where Haiti
may be found, Christopher
Columbus supposedly crumpled
a sheet of paper and threw it on
the table to demonstrate its moun-

tainous geography. Considered to .

be the poorest country, in the
western hemisphere, and with no
current prospects of realistic
de:vélopment, it is no surprise that
many ofits nationals feel the need
to move abroad in order. to sur-
vive and possibly make a better
life. Naturally the two countries
of choice also happen to be the
wealthiest, the USA and the
Bahamas. The US is much more
difficult to enter than the
Bahamas, and so many end up in
this country illegally with little
prospect of assimilation. These
imunigrants do find work, and may
even acquire a “work permit”
whiich will give them some feel-

ing; of security. However, being ©

essentially undocumented they
are unable to own land, open a
bank account, or participate in
noirmal everyday life of the
Bahamas. The result is a people
who must remain segregated from
the rest of the Bahamian commu-
nity. Because of this the immi-
grant is now susceptible to
exjloitation and abuse of accept-
ed standards of employment. The
use of cheap labour offers a ben-
efit for both Bahamian and Hait-

LETTERS

mecdianet



ian, it is also not surprising that.an
uneasy symbiosis develops, and
in Abaco, at least, a swollen illegal
immigrant population continues
to expand.

These people establish their
own communities, with their own
stores, barber shops, and eater-
ies. They build their own houses
and often build their own power
and energy systems. All illegal
and without meeting the appro-
priate code fulfillment. If they can,
they will even piggy back on a
“legal” utility just outside the
neighbourhood.

We all know the rest of the sto-
ry. This is our everyday exposure
to the immigrant population. A
people who are below the rest of
us. A people who are there to be
used and then discarded. A peo-
ple to be disdained and exploited.
A people who don’t deserve or
need ordinary human rights like
the rest of us. After all they are
illegal. Unfortunately we have
become so self absorbed we are

. unable to acknowledge the very

significant contribution these peo-
ple make to the welfare and well
being of Bahamian society. Think
about it!

But these Creole people sur-
vive-in spite of this harsh envi-
ronment we provide for them.
They manage to become estab-
lished, eat, go to church, find.a
spouse, have children, and bring
them up. They get educated by
and in the Bahamian system, and
many utilise the Ministry of
Health facilities. However most

pay their taxes, and if they do not,

it is usually because our system

. prevents them from doing so.

And now for their children, the

‘ next generation. Young people

born here in the Bahamas. Young
people who have never known
another country. Young people

-who receive an education in the

same institutions as our children.

Young people who have manners ~
and are polite, just like our chil- °

dren. Young people who want to
get a good education and then a
good job. But young people who
have no rights. We employ their
mothers and their fathers, and yet
‘we allow them no rights. No

"access to legal documentation. No

access to a higher education. No

. passports. No savings accounts.

No acknowledgment that they
exist. These young people are
prisoners in their country of birth.

Something is definitely missing
from this equation; it does not bal-
ance. But writers like Rupert Mis-
sick Jr, and Adrian Gibson have
already expressed all of this so
articulately.

Disenfranchisement becomes -

the key word in all of this. “Hait-
ian-Bahamian” as the name
implies, a refusal of the acknowl-
edgment of their birth right. They
are neither Bahamian nor Hait-
ian. We have extluded these
young people. We have taught
our own children to reject these

youngsters, even in the school sys-
tems. We have systematically
blocked every avenue they could
possibly take to improve them-
selves; to establish themselves.
We as Bahamians have disen-
franchised and excluded these
young people, and we wonder
why they are beginning to reject
us. We are terrified of the “cre-
olisation” of the Bahamas by
Bahamian-born and educated
people. We are all immigrants
here, the indigenous people were
systematically wiped out hundreds
of years ago.

It encourages me to see the
number of Creole titles that
appear in the police force, the
political scene, the professional
career groups, the teachers, the
preachers and also the ordinary
everyday walks of life. They all
continue to contribute and inte-
grate society. But the tensions
between the Bahamian establish-
ment and the lately immigrant
populous continues to build. The
frustration of those who have
managed to partake of portions
of our society are not quite as
open as those who have reached a
maturity where lack of opportu-
nity, and acceptance still exists.

Hopefully we Bahamians will
act before a serious confrontation
takes place. We have allowed this
situation to continue for too long,
only because it has been to our
benefit to do nothing. Only
because the exploitation eco-
nomically, socially, and politically
has been to our advantage. Now
the second generation has come
home; the New Bahamian is
standing on our doorstep. If we
do not open the door the New
Bahamian will.

It is time for us to deal with a
myriad -of immigration concerns
now, and not tomorrow. We must
examine the following issues.

Birthrights and citizenship.

Spousal issues when married to
Bahamians.

Bahamian women, foreigners,
and foreign born children.

Unmarried Bahamian parent-
age and citizenship.

- Illegal immigration and pre-
vention. ,

Relocation of slum areas to all
encompassing low cost housing
schemes.

Legalisation of the present ille-
gal population.

Make residency and citizenship
procedures speedier and more
efficient.

Definitive periods of residency
prior to processing.

These are just some of the areas
that need to be‘addressed effec-

tively and efficiently.

Finally I would point out that
the most effective way to deal
with the immigration onslaught
would be for the wealthy western
hemisphere to work with the
elected administration of Haiti to
build a viable economy and infra-
structure. Then the numbers
would almost disappear. Think
about it.

JOHN HEDDEN
Abaco,
2007.

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THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 5



LOCAL NEWS





Ricky Martin
fights against
trafficking on
Dominican TV

lm GENEVA

POP star Ricky Martin
will appear on Dominican
television and radio for the
next six months — not singing
or dancing but warning peo-
ple about human trafficking
and sexual exploitation,
according to Associated
Press.

“According to some
reports, more women are
trafficked from the Domini-
can Republic than from any
other country in the West-
ern hemisphere,” said Jemi-
ni Pandya of the Geneva-
based International Organi-
zation for Migration, which
is teaming up with the Puer-
to Rican singer’s charitable
foundation.

Starting Wednesday, Mar-

tin will make public service * 4

announcements for TV and
radio as part of the “Llama y
Vive” ("Call and Live")
counter-trafficking campaign
that has already done work
in Costa Rica, El Salvador,
Nicaragua and Peru.

The ads will publicise a
phone line that offers free
help and information about
trafficking. Posters and oth-
er informational material

will be distributed through- . :

out the Dominican Repub-
lic, where, according to the
IOM, both men and women
have been trafficked for sex-
ual exploitation.

The singer — whose hits
include “She Bangs,”
“Shake Your Bon-Bon” and
“Livin’ La Vida Loca” —-
started the Ricky Martin
Foundation a decade ago to
help children in need.

The IOM says Dominican
victims of trafficking are
often taken elsewhere in the
Caribbean or to Latin
America or Europe. The
organisation also has docu-
mented cases of minors traf-
ficked within the country for
sexual exploitation, usually
to tourist destinations on the
coast.

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PRIME Minister Hubert
Ingraham will participate in
CARICOM’s Heads of Gov-
ernment meeting with Canadian
Prime Minister Stephen Harper
in Bridgetown, Barbados on
July 19.

The Heads of the Caribbean
Community are expected to
meet with Canada’s leader in a
continuation of their tradition
of consultation on matters of
mutual interest and concern.

This will be the first meeting

of Prime Minister Harper with -

his Caribbean colleagues.

Prime Minister Ingraham is
scheduled to depart New Prov-
idence on Wednesday, July 18,
and return to the capitol on Fri-
day, July 20.

The prime minister will be
accompanied by the Secretary
to the Cabinet Wendell Major.

Prior to his departure, Mr
Ingraham will open the House
of Assembly debate on the
FNM government’s Speech

from the Throne during the
morning session of parliament.

Brent Symonette will act as
prime minister during Mr Ingra-
ham’s absence.

The Bahamas maintains
diplomatic relations with Cana-
da through Canada’s non-resi-
dent Ambassador based in
Kingston, Jamaica and through
the Bahamas’ High Commis-
sion based in Ottawa, Canada.

Since independence, the
Bahamas has entered into the fol-

lowing economic and cross-bor-
der bilateral treaties with Canada:

e Canada and the Bahamas
Agreement on Foreign Invest-
ment and Insurance

e¢ Commonwealth Scheme for
the Surrender of Fugitive
Offenders

e Treaty between the Gov-
ernment of the Bahamas and
the Government of Canada on
Mutual Legal Assistance in
Criminal Matters (March 1990)

e Agreement between the

Government of the Common-
wealth of the Bahamas and the
Government of Canada Con-
cerning the Council of Europe
Convention on the Transfer of
Sentenced Persons

e Agreement between the
Government of the Common-
wealth of the Bahamas and the
Government of Canada Con-
cerning the Hague Convention
of 25th October, 1980 on the
Civil Aspects of International
Child Abduction

Christian Council president says



deat

@ ByTAMARA FERGUSON’
CAPITAL punishment must

‘be enforced as an example of a

zero tolerance crime policy
according to Bishop John Humes.

The president of the
Bahamas Christian Council
made this statement yesterday
during an interview with The
Tribune.

Bishop Humes expressed
concerns about the recent mur-
ders of several teenage boys
over the last month.

“Criminal activity is a nation-
al concern in our country. Many
young Bahamian men cannot
resolve conflicts without resort-
ing to violence,” he said.

Bishop Humes said that
although the Christian Council
cannot force capital punishment
to be enforced, he intends to
continue to stress its importance

- in the country.

During an television inter-
view last week, Bishop Humes
publicly stated. his position on
the controversial issue of capital
punishment. .

He said that “hanging” must
take place to show those
involved in criminal activities,
such as murder, that they can-
not expect to take the life of
another and not have their life
taken as well. "

Bishop Humes also noted
that if this problem is not
addressed, it could threaten the

“tourism industry.” ~ tf
. However, the issue‘of.capital ©.
‘ punishment.in the, Bahamas is

a matter that-is out of the
hands of the government, as
the Privy Council in London

ruled in 2005 that the manda-

tory death sentence is uncon-
stitutional. Since then, whether
or not a convicted murderer is
sentenced to. death has be at
the discretion of the judge who

Your



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presided over the case.

- This has led to appeals being
filed by some of the men on
death row, who are seeking to
have their death sentences over-
turned based on the ruling.

Bishop Humes also noted
that the Christian Council
intends to meet with the Min-
istry of National Security, the
police, Urban Renewal and
government officials to discuss
long term plans to address the
issue of crime in general.

He said that a national youth
service programme.is needed
to teach young people how to
settle their differences respon-
sibly. He said they should also
learn basic skills that could help
the country, such as carpentry,
agriculture and fishing, so that
Bahamians can produce their
own food.

“Young men need to become
more productive in this coun-
try, rather than doing nothing
with their lives. They must learn
to maximise their potential and

gifts which they have been giv-

en,” he said.

According to Bishop Humes,
one of the major causes of vio-
lence among young people
today is the breakdown ‘in the
structure of the family.

“This is not:a political issue. It
is a social and spiritual issue.
Parents must be diligent and
aware of the activities of their
children,” he said.

‘+ On July 8, an 18-yeayedld man
was murdered:-at- the Queen
Elizabeth Sports Centre:

This week, 16-year-old
Javano Williams became the
country’s 45th murder victim
after being stabbed to death
outside the Esso Gas Station on
Baillou Hill Road and Coconut
Road. Police say they are ques-
tioning four men in connection

with the murder — three |

4



ru

INNZNs , SON




a
P)
Tl
4

Syarvd IHSISNSLIW




teenagers aged 13, 15 and 17
and a 20-year-old.

Another 18-year-old, Elima
Soufrant of Farrington Road,

was killed last Thursday in the
area of Meadow Street and
Parker Street.

Early yesterday morning, a

penalty should be enforced

27-year-old Haitian national
died as a result of a double
shooting that took place off
Cowpen Road.

ey Fale Se meet

@ MINISTER of Works and Transport Earl Deveaux shares a light moment with his
permanent secretary, Colin Higgs, during his weekly meeting with Minister of Education,
Youth, Sports and Culture Carl Bethel to discuss contracts for building and improvement
‘works at schools throughout the Bahamas. Pictured from left are Mr Higgs, Mr Deveaux, Mr
Bethel, and Sherrylee Smith, acting permanent secretary in the Ministry of Education, Youth,

Sports and Culture.



(Photo: BIS/Tim Aylen)

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* SPEAKER:

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ee DOCTORS HOSPITAL

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mms LKCTURE DATE -~~--—~
Thursday, July 19th, 2007@ 6pm

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Thursday of the month for this scintillating

series of the most relevant health issues

affecting society today.

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“

PAGE 6, WEDNESDAY, JULY 18, 2007

GN-531



SUPREME COURT

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division
2007/PRO/npr/00306

IN THE ESTATE of DORANE ROBERTSON
CELENTANO, late of 205 Glenmore Street in the Village
of East Williston in the County of Nassau in the State
of New York one of the United States of America,

deceased

NOTICE is hereby given that after the expiration of
fourteen days from the date hereof, application will be
made to the Supreme Court of The Bahamas, on its
Probate Side by WILLIAM P. HOLOWESKO, of Lyford
Lane, Lyford Cay, New Providence, one of the Islands
of the Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas, for
obtaining the Resealed Grant of Letters Testamentary
in the above estate granted to VIRGINIA R. HECKERT
AND ROBERT W. HECKERT, the Executors, by the
Surrogate’s Court of Nassau County, in the State of
New York one of the United States of America, on the
13th day of February 1992.

. Signed

K Mackey
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT

PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00307

Whereas, JEAN ALLEN of East Bay Street, Eastern
District, New Providence, one of the Islands of the
, Commonwealth of The Bahamas has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of

GEORGE WILLIAM ALLEN, JR., late of The Eastern :

_ Road, Eastern District, New Providence, one of the :

Islands of the Commonwealth of The, Bahamas, }
“deceased.

Notice is hereby given that such applications will be

heard by the said Court at the expiration of 14 days }
: Whereas, BERYL ANDREA WILLIAMS of 8 Benson :
: Road, Dannottage Estates, Eastern District, New :
; Providence, and SIDNEY ALEXANDER CAMBRIDGE, :
: Jr, of No. 9 Chancery Lane, Winton Estates, Eastern :
: District, New Providence, both of the Islands of the :
: Commonwealth of The Bahamas, Attorneys by Deed :
: Of Power of Attorney for.the Administrator has made :
: application to the Supreme Court of The Bahamas, for. :
i letters of administration of the Real and Personal Estate :
of MARIA RENATE KELLERMANN late of Im :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS |

THE SUPREME COURT :
PROBATE DIVISION :

No. 2007/PRO/npr/00308

Notice is hereby given that such applications will be

July 19, 2007 |

SUPREME COURT
PROBATE REGISTRY :
P.O. BOX N-167 :
Nassau, The Bahamas :
July 19, 2007 :
: of the Islands of the Commonwealth of The Bahamas,

: deceased.

Probate Division
2007/PRO/npr/00310

IN THE ESTATE of JON R. RUHLMAN, late of Shoreby
Drive in the Town of Bratenshl in the Country of :
Cuyahoga in the City of Cleveland in the State of Ohio

one of States of the United States of America,

deceased :

NOTICE is hereby given that after the expiration of :
fourteen days from the date hereof, application will be :.
made to the Supreme Court of The Bahamas, in the :
Probate Division by WILLIAMS EDGAR PILCHER of :
the Eastern Road, Eastern District of the Island of New :
Providence, one of the Islands of the Commonwealth :
of The Bahamas, Attorney-At-Law, the Authorized :
Attorney in The Bahamas for obtaining the Resealed : ©
Grant of entry appointing Fiduciary Letters of Authority :
in the above estate granted to BARBARA P. RULMAN :
the Executrix of the Estate, by the Probate Court of :
Cuyahoga County, Ohio, one of the States of the United }
States of America, on the 12th day of May 2006. :
: Islands of the Commonwealth of The Bahamas has
: made application to the Supreme Court of The
i Bahamas, for letters of administration with the will
: annexed de bonis non of the Real and Personal Estate
: Of ADDINGTON TAYLOR late of The Southern District,
: New Providence, one of the Islands of the
: Commonwealth of The

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Signed
Desiree Robinson
(for) REGISTRAR

No. 2007/PRO/npr/00312

Whereas, GLORIA PATRICIA DAWKINS nee LEWIS :
of Butter Cup Lane, South Beach, Southern District, :
New Providence, one of the Islands of the :
Commonwealth of The Bahamas has made application :
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of DAVID :

DAWKINS late of Butter Cup Lane, South Beach,

Southern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased. :

Notice is hereby given that such applications will be :
heard by the said Court at the expiration of 14 days ; |
i Whereas, SHANNELLE SMITH of the Western District,
+ New Providence, one of the Islands of the
: Commonwealth of The Bahamas, Attorney by Deed of
: Power of Attorney for the Administrators has made
: application to the Supreme Court of The Bahamas, for
: letters of administration with the will annexed of the
: Real and Personal Estate of JULES FRANCOIS
: JOSEPH JUAN PHILLIPPE MAURICE FERNANDO
i de AMODIO a.k.a. JOHN de AMODIO a.k.a. THE
or i MARQUIS de AMODIO late of 3 rue de L’Eveche,
COMMONWEALTH OF THE BAHAMAS :
THE,SUPREME COURT :
PROBATE DIVISION
July 19, 2007 :

: from the date hereof.

from the date hereof.
Signed

Desiree Robinson
(for) Registrar

No. 2007/PRO/npr/00313

Ziegelwinkel 16,96317 Kronach in the federal Republic

? No. 2007/PRO/npr/00319
Notice is hereby given that such applications will be :
heard by the said Court at the expiration of 14 days ;
: Subdivision, Western District, New Providence, one of

of Germany, deceased.

i from the date hereof.
Whereas, WEALTHEA WHYMMS of #75 Hamilton :
Street, Western District, New Providence, one of.the :
Islands of the Commonwealth of The Bahamas has ;
made application to the Supreme Court of The :
Bahamas, for letters of administration of the Real and :
Personal Estate of ROBERT L. WHYMMS late of #75 :
Hamilton Street, Mount Pleasant Village, Western .;
District, New Providence, one of the Islands of the :
Commonwealth of The Bahamas, deceased. :

heard by the said Court at the expiration of 14 days :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

: Whereas MICHELLE NEVILLE-CLARKE of Marlin
: Drive in the Western District of the Island of New :

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT ;
-PROBATE DIVISION :

No. 2007/PRO/npr/00309

Whereas, ELAINE ARNETT of Amerylis Avenue, New

July 19, 2007 |

Signed —
Desiree Robinson
(for) Registrar

No. 2007/PRO/npr/00314

: Providence, one of the Islands of the Commonwealth :
: of The Bahamas has made application to the Supreme :
: Court of The Bahamas, for letters of administration of :
i the Real and Personal Estate of FREDY GOZALI late ;
i of Jalan Matraman Raya Number 60, Rukun Tetangga :
012/002, Kebon Manggis Village, East Jakarata, :

Republic of Indonesia, deceased.

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days :

from the date hereof.

Providence, one of the Islands of the Commonwealth :
of The Bahamas has made application to the Supreme :
Court of The Bahamas, for letters of administration of ;
the Real and Personal Estate of TORQUIL ARNETT :
late of Amerylis, New Providence, one of the Islands :
of the Commonwealth of The Bahamas, deceased. :

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days :

from the date hereof.

Signed
Desiree Robinson
(for) Registrar

Whereas WILLIAM NATHANIEL TAYLOR of Gleniston
: Gardens in the Island of New Providence, one of the :
: Islands of the Commonwealth of The Bahamas has :

Signed
Nicoya Neilly
(for) Registrar

No. 2007/PRO/npr/00315

THE TRIBUNE

made application to the Supreme Court of The
Bahamas, for letters of administration with the will
annexed of the Real and Personal Estate of CLIFTON
HARCOURT TAYLOR late of Gleniston Gardens in the
Eastern District of the Island of New Providence, one

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.

Signed
Nicoya Neilly
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00317

Whereas, SUSAN J. JOSEPH nee ROLLE of Claridge
Road, Southern District, New Providence, one of the

Bahamas, deceased.

Notice is hereby given that such applications will be
heard by the said Court at the expiration: of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION

No. 2007/PRO/npr/00318

Switzerland, deceased.

Nutice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007

Whereas, SHERYL VINCESS HILTON of Gerald Bartlet

i the Islands of the Commonwealth of The Bahamas has
: made application to the Supreme Court of The
; Bahamas, for letters of administration of the Real and
: Personal Estate of SEAN MARIO HILTON late of Gerald
: Bartlet Subdivision, Western District, New Providence,
: one of the Islands of the Commonwealth of The
; Bahamas, deceased.

COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Notice is hereby given that such applications will be
heard by the said. Court at the expiration of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00320

: Whereas, VIRGINIA FERGUSON of Pinewood Gardens,
: Southern District, New Providence, one of the Islands
: Of the Commonwealth of The Bahamas has made
: application to the Supreme Court of The Bahamas, for
i letters of administration of the Real and Personal Estate
i of AMOS FERGUSON late of Francis Street, Fox Hill,
: Eastern District, New Providence, one of the Islands
: of the Commonwealth of The Bahamas, deceased.
COMMONWEALTH OF THE BAHAMAS :
THE SUPREME COURT :
PROBATE DIVISION :
July 19, 2007 :

Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar

July 19, 2007

aes"
THE TRIBUNE



SUPREME COURT

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division.
2007/PRO/npr/00321

IN THE ESTATE of WILLIAM DENNIS, late of
Van Buren County in the State of Tennessee,
one of the States of the United States of
America, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the. Probate Division by
NICHOLAS JOHN ZERVOS of the City of
Nassau in the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized

Attorney in The Bahamas for obtaining the ©

Resealed Letters Testamentary in the above
estate granted to RUTH DENNIS, the Executrix
of the Estate, by the State of Tennessee,
County of Van Buren, on the 8th day of June
2005.

Signed
Nicoya Neilly
(for) REGISTRAR

COMMONWEALTH OF THE,BAHAMAS .....
_ THE SUPREME.COURT. ....

PROBATE DIVISION

July 19, 2007 »

No. 2007/PRO/npr/00324

Whereas RUBY ELAINE BYER of the Southern
District of the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of DORA MATILDA HENRY late of Ferguson
Subdivision in the Southern District of the
Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas,
deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.

Sign
Nicoya Neilly
(for) Registrar

SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167

Nassau, The Bahamas -

July 19, 2007
Probate Division
2007/PRO/npr/00325

IN THE ESTATE of CATRIONA MACLAINE
GOURLAY, late of No. 54 Bishop’s Court,
Bishop’s Road, Trumpington in the District of
‘Cambridge in the County of Cambridgeshire
in the United Kingdom, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
KEVIN M. RUSSELL of the City of Freeport
in the Island of Grand Bahama,.one of the
Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the
Resealed Letters of Administration in the above
estate granted to JAMES RICHARD TEE, the
Personal Representative of the Estate, by the
High Court of Justice, the District Probate
Bae at Ipswich, on the 25th day of April
2006.

Signed
Nicoya Neilly
ffav\ DEAICTRAD



Oln brief

Legislation
moved on to
ease passport
request crisis

@ WASHINGTON

HELP may be on the way

to deal with the backlog of

unprocessed passport
requests. Legislation passed
Monday by the House would
make it easier for the State

Department to rehire retired :

personnel to pitch in, accord-
ing to Associated Press.

The bill, approved by voice
vote, responds to the depart-
ment’s inability to cope with a
deluge of passport applica-
tions this year, resulting in
long processing delays and
leaving many without pass-
ports needed for trips abroad.

The sharp increase in appli-
cations followed the January
implementation of a law,
enacted in 2004, requiring
those returning by air from
Canada, Mexico, the
Caribbean and Bermuda to
present a passport.

The bill would grant the
State Department flexibility
to rehire, on a temporary
basis, retired foreign service
passport adjudicators. It
would waive rules that deny
pension payments to retirees
returning to work when they
exceed strict wage and hour
caps.

The House bill makes
slight changes to a Senate
version that passed last
month. The Senate could
take up the House measure in
the coming days, sending it
to the president for his sig-
nature.

_ "Hopefully, this will get

experienced people at their
desks this summer to help
people get their passports,”
said Sen. Charles Schumer,
D-NY, sponsor of the Senate
bill. The State Department
has said it expects to hire
back 50 to 100 adjudicators
this year as a peoul of the leg-
islation.

Passport Panicanions were
expected to approach 18 mil-

lion this year in the wake of

the new law aimed at tight-
ening border controls and

blocking those trying to enter.
the country ‘illegally. Abott t, ae
12 million. applications. weft: |;

received last year.

The time needed to process
applications doubled from the
usual six weeks to 12 weeks,

and passport offices around:

the country have been over-
whelmed by long lines of peo-
ple trying to get passports in
time for summer trips.
“Millions of Americans are
facing unprecedented delays,”
said Ileana Ros-Lehtinen, R-
Fla, top Republican on the
Foreign, Relations Commit-
tee. “As weeks become
months these painful holdups
have wrecked long-planned
travel, job opportunities-and

family obligations for thou- i

sands of our fellow citizens.”

Maura Harty, assistant sec-
retary of state for consular
affairs, acknowledged to a
House Foreign Affairs Com-
mittee hearing last week that
her office failed to predict the
level of demand.

Harty said some applicants
apparently were not aware
that the passport requirement
currently applies only to air
travelers, with the extension
to land and sea travelers not
going into effect until 2008 at

that many non-travellers were

solid form of identification.









CAREER OPPORTUNITY
ROYAL
HOLIDAY

is seeking to employ and train

MARKETING AGENTS
As Cable Beach gets bigger and better so must we.

We are in search of highly motivated individuals. To join
our winning sales team as we expand our horizons.

Do you desire more than average?
Are you ready to take a step up the financial ladder?
_ Are you trying to buy that dream home,
send your kids to college, or buy a new car?
Then this is your opportunity to realize that dream.

THE Bahamas added an
authentic heritage museum and
tour to its tourism product this
week with the opening of
Bahamas Heritage Centre at
Nettie’s Different of Nassau.

Veteran hotelier, Nettica
Symonette, developed the her-
itage site at Casuarina’s Hotel
on Cable Beach.

The expansive building fea-
tures a museum that houses rare
articles such as old goose irons,
wash tubs, scrub boards and
kerosene oil lamps.

A maypole, greasy pole, pit
roast, rock oven, chapel and tra-
ditional schoolhouse for story-
telling are also located at the
heritage centre.

Branville McCartney, Minis-

ter of State in the Ministry of
Tourism, called it an attraction
that “is not only unique and
visionary but truly remarkable
and worthy of being among the
‘must-see’ indigenous tours for
both visitors and residents.”

“We must do all in our powér
to pass on our rich heritage to
future generations,” he said. “In
this regard, aspects of our cul-
tural heritage should:be incor-
porated into the schools educa-
tional curriculum and Different
of Nassau placed on the must-
see list for schools.

“This project is also an impor-
tant addition to the tourism
product. It is the only place
where these authentic Bahami-
an items and experiences can
be viewed and enjoyed,” he
said.

Ms Symonette recalled the
long, rewarding and often rough
career that led her to the open-
ing of Bahamas Heritage Cen-
tre. Her journey included teach-
ing at the age of 10, being
forced to leave the Government
High School prematurely at the
age of 16, sacrificing further
education to care-for her moth-

er and ee: and several trials

WEDNESDAY, JULY 18, 2007, PAGE 7

‘Heritage museum

officially opened.
at Cable Beach





@ PICTURED (from left) are Branville McCartney, Minister of
State in Ministry of Tourism; Vernice Walkine, director general
of Ministry of Tourism; Nettica Symonette, Bahamas Heritage
Centre operator; Charles Maynard, Minister of State in

Ministry of Culture; Christina Symonette and Rosena Duncan-
son, granddaughters of Ms Symonette, and Tommy Turnquest,
Minister of National Security.

and successes in the hospitality
industry.

Ms Symonette~ opened
Casuarina’s Hotel in 1977,
Years later, she opened the eco-
resort, Different of Abaco. The
resort earned special acclaim in
the international media, notably
CNN and Conde Nast Travelet
Magazine. ;

Returning to Nassau, the
decided to develop the heritage
centre in part as a contribution
to the education of younger
Bahamians.

The Bahamas Heritage Cen-
tre now stands as a living muse-
um and a‘legacy for generations
to come, Ms Symonette said.

“IT see this as a school of
learning for Bahamian children,

‘a place of memory for the older :

generations. who want to, con’

nect with their past,” she said.
“In my lifetime, I have risen
from poverty, earned a PhD
from the University of Hard
Knocks, lived in the finest
homes, worn the most expen-
sive clothes and travelled almost
around the world.

“But nothing has given me
greater satisfaction than creat-
ing this living museum, realising
that if you do not know where
you came from, you do not
know where you are going.”

Minister of National Security
Tommy Turnquest and Minister
of State for Culture Charles
Maynard also participated in
the opening ceremony of the
centre.

The ministers were treated to
a special tour of the heritage
centre by Ms Symonette.

COB launches scheme
to recruit young chefs

THE Culinary and Hospital-

i ity Management Institute at the

College of the Bahamas has

introduced a bold and innova- —

tive way to attract young people
to the wonders of cooking and
possibly a career in the industry.

Named “Little Chefs”, the
idea is to provide a week long
opportunity for enterprising 10
to 14 year olds to experience
culinary training at CHMI
under the supervision of two of
its trained chef instructors.

A similar programme is
underway in Grand Bahama
and both will culminate in each
of the “little chefs” producing a
three-course meal for two invit-
ed guests at the end of their
week’s training.

Little Chefs is the brainchild
of chef Robert Laudermilk and

: ~ so inspired by its possibilities
the earliest. She also noted :
? utive director of CHMI, that he
now view. the document as a

was Dr Lincoln Marshall, exec-

decided to use it as way to reach
out to young people both in


















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@ POTENTIAL chefs take a look round a professional kitchen
as they receive training in culinary skills

Nassau and in Freeport.

“It’s all about creating
momentum,” said Dr Marshall,
“momentum. for CHMI that will
come from attracting bright,
committed young people to
train for a career in the culinary
industry.”

At the opening ceremony at
Choices Restaurant at the
Bahamas Tourism Training
Centre, Dr Rhonda Chipman-
Johnson, executive vice-presi-
dent and vice president of aca-
demic affairs, welcomed the
group of 14 “pioneers”, as she
called them, and expressed her
pleasure at seeing five parents
in attendance too.

Dr Chipman-Johnson
reminded the young people that
the programme was opening in
Grand Bahama at the same
time, “A true indication,” she
said, “that we are the College of
the Bahamas and not just the
College of Nassau.”

Reminding the students of
the many possibilities to which a
career in the culinary arts can
lead, Dr Chipman-Johnson,
spoke of the distinct likelihood
of their becoming employed in
some sector of the tourism
industry when they finish their
studies.

She also told them that the
world of tourism is becoming

more and more competitive;
consequently, the Bahamas
must ensure that what it does
and what it offers are the best
they can be. “In this regard,”
she added, “‘it is very pleasing to
see how many award winning
chefs we have produced here in
the Bahamas.”

Valderine Hamilton, director
of industry training at CHMI,
was also present to welcome the
participants and she immedi-
ately put them at their ease and
made them feel at home.

She explained that Little
Chefs is a collaboration
between CHMI and the Min-
istry of Tourism and that the
latter is providing chef’s hats
and aprons for the participants.

In addition to their chef’s out-
fits, the young people will
receive a manual and cookbook
produced by Mr Laudermilk
and will go on a guided tour of
the kitchen at the RUI hotel on
Paradise Island.

Working with Mr Laudermilk
will be chef Ron Johnson, a past
graduate of the Bahamas Hotel
Training College, the forerun-
ner of the College’s Culinary
and Hospitality Management
Institute. .

Mr Johnson also graduated
magna cum laude from John-
son and Wales University.
PAGE 8, WEDNESDAY, JULY 18, 2007 <



THE TRIBUNE

a

It’s time to focus on rising murder
rates and the younger generation

: ONVERSATIONS

with taxi drivers these
days are no longer about the
weaiher or business — they’re
all about the latest killings.

Another young man stabbed
or shot to death for who knows
what. Another young woman
dispatched mn a domestic quar-
rel. Another gunfight at the fish
fry. Experts say homicide is a
reliable barometer of all violent
crime, and we have had 45 mur-
ders so far this year — one of
the highest per capita rates in
the world.

Death by yiolence is com-
monplace on New Providence,
along with armed robbery and
rape, and our youth seem to be
armed to the teeth. When 18-
year-old Mazdio Hall was killed
at the QE sports centre days
ago, newspaper reports said
other young people in the
crowd were moved to fire their
weapons in the air.

Police say:70 per cent of local
murders are committed by
young men between the ages of
18 and 35 — and their victims
are usually other young men.
The causes range from gang
warfare to lovers’ quarrels to
drug disputes to plain old argu-
ments.

And public response to this
unprecedented tide of killings
has been predictable. The
Christian Council demands
“immediate hangings.” Others
call for prayer meetings. And
some have suggested an
amnesty for thugs to turn in
their weapons to local pastors.

As for the causes, some argue
that our young men are bored,
uneducated and unable to make
a living. Others say they want
the power that comes with guns.
Still others say it’s a question
of anger management, because
even trivial disputes lead to vio-
lence. And since weapons
abound, the violence is often
deadly.

EF fact, one of society’s
greatest fears today is the
swaggering youth with a gun or
knife in his hand and ruthless-

ness in his heart. And the big

* question is: are we producing a

generation of killers that will
send the country spiraling into
anarchy?

This breakdown is often
attributed to our dysfunctional
court system, which cannot
properly process or hold crimi-
nals. As former policeman Paul
Thompson says, “our courts are
in shambles and the backlog of
cases continues to escalate
resulting in persons accused of
very Serious crimes being giv-



‘LARRY SMITH

rates are directly related to
demographics. For example,
conservative theorist James Q.
Wilson said in 1975 that “a
critical mass. of younger per-



Others say it’s a question of
anger management, because
even trivial disputes lead to
violence. And since weapons —
abound, the violence is often

deadly.



en bail after years: in prison
without trial.”

And here’s what one politi-
cal leader had to say about the
problem: “We know we’ve got
about six years to turn this juve-
nile crime thing around or our
country is going to be living
with chaos.”

That was Bill Clinton — pres-
ident of the United States from
1992 to 2000. He was reacting to
the dramatic crime wave of the

late 1980s and early 1990s, when -

increases in drug dealing and
related handgun violence in the
US pushed up the murder rate
for teenagers by 22 per cent.
And all the experts said it would
only get worse.

Criminologist James Allen
Fox predicted “a bloodbath of
teen violence in the years
ahead...Too many children are
coming out undersocialized and
undersupervised. They have too
much free time on their hands.
Literally time to kill.”

Fever have. long
assumed that crime

sons... creates an explosive
increase in the amount of
crime.”

But it is not just the number
of young people that is impor-
tant to the crime rate. It is also
the kind of families they come

from. Social scientists say. the

rise in violent. crime has paral-
leled the rise in families that
have been abandoned. by
fathers, anda 10 per cent
increase in the percentage of

children living in sinpte-parent

homes leads typically to a 17
per cent increase in juvenile
crime.

According to Dr Patrick

Fagan of the Heritage Founda-
tion (writing in 1995), “The evi--

dence suggests that at the heart
of the explosion of crime in
America is the loss of the capac-

ity of fathers and mothers to be.

responsible in caring for the

children they bring into the.

world. This loss of love and
guidance at the intimate levels
of marriage and family has
broad. social consequences for
children and for the wider com-

-munity.”

FOR IMMEDIATE RELEASE

I: this view, the root cause
of crime is not poverty, but
moral failure. It is the refusal to
exercise personal responsibility
and the inability to enter into
relationships based on a com.
mon code of conduct. For exam-
ple, one major US study of
11,000 individuals, found that

' “the percentage of single-parent

households with children
between the ages of 12 and 20 is

* significantly associated with rates
of violent crime and burglary.”

And Kevin Wright, professor
of criminal justice at the State
University of New York, says
“Research confirms that chil-
dren raised in supportive, affec-
tionate, and accepting homes
are less likely to become
deviant. Children rejected by
parents are among the most
likely to become delinquent.”

In fact, this theory was con-
firmed by the last taxi driver |
spoke to — one Livingstone

‘Miller of Everglades Road:

“People blame the PLP gov-
ernment and they blame the

Catholic, agrees with all the
researchers who find that a
neighbourhood composed
mainly of single-parent families
is invariably a chaotic, crime-
ridden community in which
assaults are high and the gang

—.the delinquent subcommu-

nity — assumes control.

Prayer services won’t cut it.
And there are no statistics any-
where to prove-that the death
penalty reduces crime. But, as
Dr Fagan says, “it is no coinci-
dence that one of the central
rules in the traditional moral
codes of all communities at all
times, in all places, and in all
cultures is the prohibition
against giving birth to children
outside of marriage. Societies
all over the world have recog-
nized that this prohibition is
essential to social stability and
to raising members of each new
generation with the proper
respect for their community and
their peers.”

|: their book, Freakonom-
ics, economists Steven
Levitt and Stephen Dubner
examined factors that played a
critical role in reducing crime
in the US during the 1990s.
These factors included extra
police, jailing more criminals,
the decline of the crack epi-
demic and legalization of abor-
tion in the 1970s.



- About 70 per cent of all births

in the Bahamas are now |
illegitimate and almost half
of very poor households are
headed by single women,
supporting five or more

dependents.



FNM government, but it is real-' -
«ly, the family and the way they
..bring these kids up.”

Miller, a devout Roman

The Government of The Commonwealth of The Bahamas announces the issue of a further
offering of Bahamas Registered Stock totalling B$100.000 Million. Applications will be received
by The Banking Department beginning at 9:30 a.m. on 17th July, 2007 and will close at 3:00pm on
24th July, 2007. Allocations will commence at 9:30 am. on 25th July, 2007 and will cease st

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Treasury or any of the following banks:-

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payment.



“The magnitude of this rever-
sal was astounding,” Levitt and
D»bner say. “The murder rate,
instead of rising 100 per cent,
or even 15 per cent as James
Allen Fox had warned, fell
more than 50 per cent within
five years. By 2000 the overall
murder rate in the United
States had dropped to its lowest
level in 35 years. So had the rate
of just about every other sort
of crime.”

' They attribute this largely to
a young woman in Dallas
named Norma McCorvey — a
poor, uneducated, unskilled,
alcoholic, drug-using 21-year-

old who had already given up
two children for adoption and
found herself pregnant again
She became the lead plaintiff
in a class-action lawsuit, to
legalise abortion, which made
its way. to the Supreme Court
in 1973 under the name of Roe
versus Wade.
So how did abortion help trig
ger the greatest crime drop in
recorded history?
Well, as Levitt and Dubner
point out, “as far as crime is con-
cerned, not all children are born
equal. Decades of studies have
shown that a child born into an
adverse ‘family environment is
far more likely than other chil:
dren to become a criminal. And
the millions of women most like-
ly to have an abortion in the
wake of Roe vs Wade — poor,
unmarried, teenage mothers, —
were often models of adversity.
They were the very women

whose children, if born, would | °’

have been much more likely than - ‘
average to become criminals.,
“It wasn’t gun control or a
strong economy or new police
strategies that finally blunted
the American crime wave. It
was, among other factors, the
reality that a pool of potential
criminals had dramatically
shrunk.” ty

S o should we Bahamians
be concerned about the
careless reproduction , of
unwanted and uncared for chil-
dren? Well, about 70 per cent, of
all births in the Bahamas are
now illegitimate and almost half
of very poor households are
headed by single women, sup-
porting five or more depen-
dents. We also have the top
recorded rape rate in the world
and one of the highest murder
rates. ‘4

National Security Minister. '
Tommy Turnquest says the gov-
ernment is working on a multi-
sectoral crime control master
plan to be unveiled in the fall.

This has been a recommenda- :

tion of the CARICOM Task
Force on Crime and Security
since 2002... ., ,

But to address the real roots
of crime, it seems that our polit-
ical and religious leaders shopld
be inspiring Bahamians-to
rebuild their families and com-
munities: And it also means
that the people at the top must
set the supreme example by fol-
lowing the rules and codes of
conduct themselves. -

What do you think?

Send comments to larry@tri-
bunemedia.net. Or visit
www.bahamapundit.com

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Nassau, Bahamas







“THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 9



“Chief Councillor clans
the FNM is committing ©
‘biggest act of political
victimisation in
local government’
FROM page one

‘vand Joe Albury by the new

~PNM government.

'-“ Unfortunately, in the
“Jast week, the ministry
-of local government
‘under the direction of
Prime Minister Ingra-
“ham, is in the process of

firing two Councillors
-on our Council, and

“shold elections for the
two members. I find this

'-An act of complete

“political motivation and

"skullduggery of the
highest order,” he said.

‘Mr Sweeting, who
spoke to The Tribune
last week about the

‘“controversy, alleges

“that a group in the com-

“-munity, who value

““political affiliations
higher than the overall

“good and betterment of

* the community”, is

'-behind this powerplay

“and were rejected in
their efforts by the for-
mer local government
-minister, Alfred Gray.

~°s Mr Sweeting also

‘alleges that Local Gov-
ernment Minister Sid-
‘ney Collie, on June 22,

‘told the council — Mr
Sweeting said he has an
audio recording and a
transcript of the state-

“ments — that the

~"expense of new elec-

‘tions would be unneces-

“sary with only one more

-Cyear left in its mandate.

“.f However, as soon as

‘Mr Collie returned to

‘Nassau, Mr Sweeting

“said, he got new orders.

~~ “Honestly, I found

‘ Minister Collie to be a
‘man of good character
‘and a diplomat, but sure
as I am sitting here ©

“today, when the diplo-
“faat went back to the
Capital and entered the

“chambers of the dicta-

‘for, the course

-»¢hanged,” he claimed.

-*- Mr Sweeting expects
‘the FNM to use a peti-
tion circulated with.120

: ‘of 200 voters against the
‘Council to be used
-‘against them as a justifi-

‘cation for new elec-
‘tions, along with section

18 of the Local Govern-
ment Act, which allows
the minister to call elec-

‘tions for council seats
that were nominated
rather than elected —
which is the case with

“the two Council seats in

-“question.

In response to-this,

Mr Sweeting said that .

"



B ATTORNEY General
Claire Hepburn

FROM page one

eral election, a political-back-and-
forth took place between former
foreign affairs minister Fred
Mitchell and the now Education
minister Carl Bethel about an
alleged “visa scam.”

Mr Bethel, during an FNM ral-
ly, claimed that the number of
visas issued to Haitian and Chi-

nese nationals had increased a:

hundred-fold during Mr Mitchel-
l’s tenure.
However, Police Commission-
er Paul Farquharson, in a written
communication to Mr Mitchell,
said that there was insufficient
evidence to charge or prosecute
any person for an offence within
our outside the consular section
of the Ministry of Foreign Affairs.
In February of this year, the

Auditor General’s report for the

LOCAL NEWS

AG sceptical on claim that
‘hanging prevents crime’

ATTORNEY General Claire Hepburn
responded yesterday to the recent talk
among members of the public and social
commentators of whether there is need
for capital punishment to be put into effect
in the Bahamas in view of the increasing
number of murders.

Mrs Hepburn said she is sceptical about
the claim that “hanging people prevents
crime.”

“T particularly have a view — and this
isn’t the law now — that what we need to
do as a people is we need to start being our
brothers keeper and instead of trying to
look at worldwide solutions to problems,
sometimes if we just take that little child
next door to us that has nobody to take
care of them, and we nurture them, we
may do far more good in terms of stop-
ping crime.”

The Attorney General reminded the
public that, since the landmark Privy Coun-

cil ruling, while capital punishment is “still
constitutional, it is no longer mandatory”
and an extra sentencing hearing is required
before anyone can be sentenced to death.

“So one time, when you were convicted
of murder you were automatically sen-
tences to death, that cannot happen any
longer,” she said, adding for those who are
calling for it that “the only thing we can do
is what is the law.”

“We cannot simply go ahead and do
something because people are calling for
it,” she said.

While noting that Barbados has amend-
ed its constitution “so that it says in its
constitution that the mandatory death sen-
tence is not unconstitutional” Ms Hepburn
said she “does not know if there’s anybody
in the Bahamas who wants to go there,”
adding: “Our government certainly isn’t
considering that now.”

Since the Privy Council ruling, she said,

all those previously sentenced to death will
now have to have their sentences reviewed
— a process which is ongoing. Mrs Hep-
burn added that “not one” of those who
needed to have their sentences reviewed
have “reached the end of the line” and
received their new sentences.

Now the death sentence is not manda-
tory in murder convictions, a second sen-
tencing hearing must be carried out before
a person can be given the death penalty.

“In each case the court has to go into a
second phase after conviction which is to
have a sentencing hearing where the court
is going to look at all of the circumstances
of the case, the way the offence was com-
mitted...probation reports, psychiatrist
reports in some cases, it will look at pros-
ecution and also defence and then at the
end of it all it'll determine whether in fact
it is an appropriate case for the death
penalty.”

Senior police
officer

fiscal year 2003/2004 was pub-
lished, stating that controls at the
visa section at the Ministry of For-
eign Affairs during that year were
“very weak” and that practices at
the office were vulnerable to
abuse.

The report, which prepared
revenue and expenditure audits
for the fiscal year 2003/2004,
showed that several documents
were missing at the ministry.
These documents include records
indicating whether all the neces-
sary information was provided by
those persons to whom visas were
granted.

Man in court over murder

FROM page one

rio Ducille. Russell was not required to plead to the murder charge,
which stated that on Sunday, July 8, he caused the death of Mardio

Hall.

Ms Taylor, Russell’s counsel, informed the court that her client,
who, under police escort, hobbled to court on a crutch, had a bro-
ken leg and fractured back. Ms Taylor told the court that Russell
had had surgery two months ago, having been in an accident and
was due to have another operation soon. Russell was remanded to

Her Majesty's Prison.

His case was adjourned to Tuesday, July 24, and transferréd to
Court five, Bank Lane. Last week, a 17-year-old boy, alsd'of

: Pinewood Gardens, was arraigned in magistrate’s court, "Yiso

charged with Mardio Hall’s murder. He too has been remanded to

Her Majesty's prison.
FROM page one

the chairmanship post.

It was.also revealed that Mr
Adderley was “noticeably miss-
ing” from Melanie Griffin’s

-branch meeting held Monday

night. This apparent “snub”
reportedly did not go down well
with senior PLPs who were seek-
ing an opportunity to confront
Mr Adderley on the persistent
reports of his shift in allegiance.

‘PLPs fear’

Adderley was leaving the party,
Mr Grimes said he had no idea as
he had not spoken with him for
sometime.

“TI emphasize that I personally
have a tremendous amount of
respect for Mr Adderley. He is a
man of the highest principle, and
I doubt very seriously that he
could be motivated by money.

FROM page one—

PLP leader.

“If it is indeed said that he
was cheated out of the elec-
tion, then he should stay on.
However, if he fairly and
squarely lost the election, or

whatever the case may be,

then by all means, the loss of
the election rests at his feet,”
the source said.

“We believe that Bernard
Nottage would be more in
touch with young people,” he
added. However, the source
made it clear that Dr Nottage
“will not contest the leader-
ship if Perry Christie is still.the
leader.”

With Mrs Cynthia Pratt, the
PLP’s current deputy leader,
poised to step down, the insid-
er said that it looks likely that
Dr Nottage will assume the
deputy leadership of the PLP
in November, as an interim
move pending Mr Christie’s
decision.

It was explained to The Tri-

_Christie’s political future

bune that the move to Dr Not-
tage will also serve the interest
of younger PLPs who want a
strong leader now, but do not
want a leader who will not stay
on for an excessive amount of
time, as Dr Nottage is 61.

“If you choose someone
who could be deputy leader
for a number of years, that
could wipe out an entire gen-
eration,” he said.

The shadow of Sir Lynden’s
departure still looms over the
PLP, the source continued. In
1992, after 25 years in power,
the PLP won 18 seats. By 1997,
after Sir Lynden stayed on to
the amazement of many com-
mentators, the party was
reduced to near oblivion win-
ning only six seats in the
House of Assembly.

The source told The Tri-
bune that he does not think it
will be necessary for the party
to force Mr Christie out if
there is no election or change
of government. Rather, he
said, “I think he will step
aside.”

Man dies
after double

shooting
FROM page one

A third man, identified
as 32-year-old Lafrancouer
Estimable, was also found
injured on the scene, how-
ever police say it is not
clear how his injury was
inflicted. He is listed in
serious condition.

Following the incident,
police retrieved from the
scene a.9mm handgun with
three live rounds.

While Mr Hanna could
not give a conclusive
motive for the double
shooting, he did say that
robbery as a motive
seemed to be a strong pos-
sibility.

Police are continuing
their investigations into the
shootings.

% the petition is more
an 10 months old and
erates to some anger in

“I am a trustee of the party. I
have known Malcolm Adderley
for many years. I have the great-
est respect for him. The greatest
respect for him, both as an indi-
vidual, as a family man, and as a
politician. Unless I hear that com-
ing from his mouth, to my ears, I
will not believe it,” he-said.

More troubling, some sources
claim, is the fact that despite the
reports, Mr Adderley has yet to

=the community over a make a public statement of his

“garbage contract that : wishes to either stay or leave the
‘Sshas since subsided. He i PLP.

‘also questions if gov- However, one of Mr Adder-
ernment has not passed ley’s staunch supporters and long
a 90-day provision in time colleagues, Valentine
the law to call such Grimes, said he would be “very, Repeated calls to Mr Adder-
local government elec- very surprised” if Mr Adderley ley were not returned up to press
tions. decided to leave the PLP overa time.

Mr Sweeting declared matter of earning more money as Calls to the former prime min-
that if the government Gaming Commission chairman. ister and leader of the opposition
does not call local gov- When questioned directly as to Perry Christie were also not
ernment elections whether or not he knew if Mr returned.

across the Bahamas, the
actions of the Ingraham
government in remov-
ing these two council-
lors should be regarded
as an act of “tyranny”.
“Councillors can tell
you that when it comes
to local government, I
do not play politics. We
work for the betterment
of our communities and
~towns. Politics doesn’t
have a home in our
-,Council. But the minute
*-éentral government,
's ‘whether FNM or PLP,
“sinterferes with the busi-
“mess and the running of
“sour Council, that is
_when we slam the gov-
ernment, FNM or PLP.
It doesn’t matter
because local govern-
thent is supposed to be
“local government,” he
said.
: When contacted by
; The Tribune fora
response to these alle-
“gations, Minister for
Lands and Local Gov-
ernment, Sidney Collie
said he will reserve
comment on this matter
until he has a chance to
review the remarks
. made by Mr Sweeting at
: the press conference.
' Opposition MP
Alfred Gray is expected
. to bring this issue up in
~ the House today.



“u "ewe eae wwowry

Sandals Royal Bahamian Resort @ Offshore Island,

"se * Oe ener ese rer

Invites applications for the positions of

smaewernr ~

SPADIRECTOR
"__ DIRECTOR of ENTERTAINMENT

SPA DIRECTOR



Applicant must have at least four years experience as the Director of a
Five star Spa ntust be able to train and motivate team members, good
track record in Managing people be able to establish and maintain
high standards. Formal qualifications and computer skills desirable,
be able to work flexible hours.

ENTERTAINMENT
Applicant must have worked as a Director for at least five years
Strong organizational leadership skills must be able to work long
hours must have excellent communication skill

Fax or email résumé’s with proof of qualifications and experience to
cmajor(a'srb,sandals.com Fax 327-6961.
Closing date July 20, 2007





Sloe MN hatte isai 8

PRIVATE | COMMERCIAL | NO FAULT


PAGE 10, WEDNESDAY, JULY 18, 2007

| WEDNESDAY EVENING

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JULY 18, 2007

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THE TRIBUNE

let Charlie the a
Bahamian Puppet and ly
his sidekick Derek put

some smiles on your

kids’s faces.



Bring your children to the

McHappy Hour at McDonald's in J
Marlborough Street every Thursday fe
from 3:30pm to 4:30pm during the oe

month of July ZOO fh

Enjoy Great Food, Prizes and Lots of Fun.

i'm lovin’ it


THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 11



@ By DENISE MAYCOCK
Tribune Freeport

Reporter

FREEPORT - The Atlantis
IT — a research vessel respon-
sible for many historic dis-
coveries around the world —
has undergone a $3.2 million
complete restoration here in
Grand Bahama.

The vessel will be officially
re-christened at Freeport
Harbour at 5pm today, and
returned to service to begin
a new era of exploration and
discoveries around the world.

Gordon Hunsucker, owner
of Atlantis IT, saved the vessel
from being scrapped last year,
and purchased it in an effort
to restore the historic ship
which was the first to view the
Titanic.

. The ship was originally
built in 1962 for the Woods
Hole Oceanographic Institu-
tion (WHOJ) for research
exploration. It was commis-
sioned in 1963 and served as
the flagship for Wood Hole
for 33 years.

The vessel has been around
the world nine times and has
-logged more miles — over one
million — at sea than any oth-
er research vessel in history.

CABLE

“It has been responsible for
numerous new discoveries
and explorations, and was the

‘first vessel that actually

viewed the Titanic. It sent a
submarine down and they
actually saw the Titanic for
the first time,” said Mr Hun-

“sucker, ;
After many-years of explo-

ration, the ship was retired in
1996 and sold to a private eee
ty who let it sit idle in
Orleans.

Mr Hunsucker bought it

. last September and brought

it to Grand Bahama for a
complete restoration at the
shipyard.

“It was hours. away from
being scrapped,” he said.

“The person who had it was:

going to sell it to the scrap
yard. And it would have been

“a shame because it is so his-
. torical and so famous, _
“It has had tremendous dig-

nitaries on it, including Mr
Jacque Cousteau, the Emper-
or of China, as well as numer-
ous celebrities,” said Mr Hun-
sucker.

Mr Hunsucker had the ves-
sel completely gutted, remov-
ing some 50,000 pounds of
junk from the ship.

“The ship was essentially

i 1

LOCAL NEWS

Atlantis II vessel to be
re-christened in Freeport

rising from the ashes. It was
pretty much on its last leg,
and people had written it off
as the ship that would never
be in service again, and we
completely restored it,” he
said,

The vessel is about 210ft

ong and 44 ft wide, and has a

14 ft draft. It has seven decks
and can accommodate 80 per-
sons.

It is equipped with an
explorer’s lounge, gym, an
extensive dive walker, two
laboratories, retail space, and
a first-class dining room with
a fireplace.

“The restoration was $3.2
million and it is currently in
better shape than the ship has
ever been in its lifetime,” said
Mr Hunsucker.

Following re-christening in
Freeport, the vessel will

embark on several different -

explorations around the
world, including an explo-
ration project in Chile.

Mr Hunsucker revealed
that the ship will explore an
“unexplored rainforest” on
the southern tip of Chile.

“You can see Antarctica
from this rain forest. And the
interesting part of it is that
there should not be a rainfor-

BAHAMAS

av ACANC Y
Ip Network Engineers

est there because it is a very
cold environment, and
researchers have discovered
over 1,000 new species of life
there,” he said.

A 22-person exploration
team — comprising a science
team and film crew — will
join the crew of Atlantis IJ on
the rainforest exploration to
Chile.

Mr Hunsucker said that the

explore an underwater city off
the coast of Japan.

“There is an underwater
city that was accidentally
found by a fisherman off the
coast of Japan. It is 65 feet
under water and about 311
square miles have been
mapped out, and it is believed
to have been built before the
last Ice Age,” he said.

Mr Hunsucker said that

and massive steps, as well as a
pyramid that is submerged

- underwater.

“We will be the first to take
a full documentary team and
spend time there exploring
this underwater city,” he said.

Mr Hunsucker said that
tourists and persons interest-
ed in participating in explo-
ration voyages may also join
the crew onboard the Atlantis

Atlantis IT is also.expected to

there are statues, carvings, JI.

Claim that executive using judiciary ‘as
scapegoat for wider social problems’

FROM page one

He stated that over 50 per cent of all cases
filed in court would fall into this category, in
many cases because of deficiencies in the evi-
dence made available.

Mr Munroe continued that a “backlog” should
not refer to the number of cases filed in court,
adding that “the fact that you have 500 cases in
the court does not mean that there’ 's 500 cases
ready for hearing.”

In June Attorney General Claire Hepburn
spoke of a backlog, claiming that there are 500
Supreme Court cases pending. She stated that
not all of these are “ready for trial” and said a
“review” would have to be undertaken by her
office to determine which ones do have the nec-
essary characteristics to make them eligible for tri-
al, such as available witnesses and exhibits.

‘Adding to his evidence to support his claim
that the “backlog” spoken of is not real, Mr
Munroe claimed that Chief Justice Sir Burton
Hall reduced the number of criminal judges from
four to two “because there weren’t sufficient cas-
es to occupy them”, leaving one in reserve should
the number of. cases being brought to trial
increase.

Additionally, Mr Munroe estimated that none.
of the two permanent judges is ever occupied
more than 60 per cent of the time, and “never in
(his) recent memory” have enough cases been

brought for the reserve judge to have to step into -
action.

office wants to prosecute a case that they’re going
to lose,” he said. “They may: have a nonsense
case, they may not be able to reach witnesses,” he
said of many of the pending cases.

In a statement which may be seen as a response
to the allegation that the Attorney General’s
office is not interested in taking on “losing cases”,
however, Ms Hepburn told the Senate last month
that talk of “swift justice” must not “mask the real
responsibility of...the Office of the Attorney Gen-
eral is not to secure a conviction, but to ensure
that justice is done.”

Mr Munroe claims that governments through-
out the world and in the history of the Bahamas
have chosen to blame the judicial system rather
than address some tough realisations.

“It’s the easiest one to point to and its the one
that doesn’t involve the executive, and every
executive does it, not just this one.

“If they pointed to the police, low and behold
the police is under the auspices of the executive
government. If they pointed to the education sys-
tem, the education system is under the auspices of
the central government. The social welfare system
- that too is under their control,” he said.

He added that the general public would also
prefer to hear that the judiciary is responsible -
and will be fixed - rather than admit the country
is undergoing social decay.

“Tell us something that will solve the problem
other than us disciplining our children or properly

‘raising our children; we don’t want to hear that,

that’s too difficult, that takes a little bit longer,” he
said.

“At oo of the ve nobody in the AG’s

Be ee Ore TS Oey eronioea Soesensenvenenens Sap paa nee any; HRPrARADOADORYGSOUANWODANSUNCOUay eben QobeouabaDDanaaeneuDeDbasnaaanunenD

Responsibilities

: Cable Bahamas Limited is seeking qualified IP Network

Engineers. The successful candidates must have a solid
technical background as well as strong leadership skills
working within a team environment and providing daily
operational leadership. Individuals will be responsible for
the day-to-day operations and support of customers in a
service provider network. Candidates must have strong
customer service and interpersonal skills.

Requirements

Technical skill requirements include installing, maintaining
and supporting IP routers and Layer 3 switches in a mixed
vendor environment. An in depth understanding of Layer 2
and Layer 3 protocols, as well as advanced level BGP, OSPF
and ISIS routing protocols and operations is mandatory.

Previous experience with MPLS TE and MPLS L2/L3 VPN is
a plus. Candidates must have previous working experience
with protocol analyzers, network management and IP related
diagnostic tools. In addition, experience within the Cable
Service Provider environment supporting DOCSIS cable
modem technologies, packetcable and VoIP technologies.
Familiarity with HFC infrastructure, general RF principles
and TCP/IP from both administrative and_ technical
perspectives are must haves. Candidates must be familiar
with procedures such as superhetting, subnetting, ARIN
policies, address request processes, address allocation and
SWIP procedures. Candidates must also possess a strong
understanding of DNS principles and management in a
Service Provider environment.





ENEZUELA’S President Hugo Chavez (centre).
(AP Photo)

Venezuela’s Chavez.
accuses Washington
of trying to isolate
his government

The successful candidates will be those having experience
working with the following key vendors, Arris, CedarPoint,
Cisco, Extreme, Juniper and Redback.

Minimum educational background
University Degree with relevant key vendor certifications
(CCNA/JNCIA/MCSE).

should

include a

All interested candidates should submit by email,
detailed resumes to the attention of Mr. Richard B
Adderley - humanresources@cablebahamas.com by
Friday, July 20, 2007.



@ CARACAS, Venezuela

PRESIDENT Hugo Chavez accused
Washington of trying to isolate his
government internationally after a top U.S.
State Department official said the
Venezuelan leader was using fear to advance
his political agenda, according to Associated
Press.

"They have been doing this for five years, try-
ing to isolate Venezuela, not just in Latin
America but the entire world," Chavez told
high-ranking military officers during a tele-
vised speech.

The Venezuelan leader was reacting to state- -

ments by U.S. Undersecretary of State Nicholas
Burns, who said last week during an official
visit to Brazil that Chavez was using "politics of

fear and division" to push forward his political
lans.

r Chavez = a close ally of Cuban leader Fidel

Castro = said U.S. officials specifically are

attempting to undermine Venezuela's relations

with Brazil as part of a larger effort aimed at

isolating his government.

"The empire is trying to separate us. They
won't succeed," he said.

Relations between Caracas and Washington
have been strained for several years due to
U.S. accusations that Chavez poses a threat to
democracy in Latin America and Venezuela's
constant criticism of U.S. foreign policy in the
region. Despite the strained diplomatic ties,
Venezuela remains a major supplier of crude
oil and refined petroleum products to the Unit-
ed States.
PAGE 12, WEDNESDAY, JULY 18, 2007

TWO representatives of the
Bahamas National Trust trav-
elled to Inagua to discuss
upgrading the facilities at Union
Creek Reserve in order to pro-
vide improved infrastructure for
visitors and residents of Inagua.

BNT deputy executive direc-
tor Lynn Gape and director of
parks and science Tamica Rah-
ming met with Dr Alan Bolten
and Dr Karen Bjorndal of the
Archie Carr Centre for Sea Tur-
tle Research, who have been
conducting sea turtle research
at Union Creek for more than
30 years.

Initial discussions proposed
a plan that would include inter-
pretive signs, a covered seating
area and the introduction of a
composting toilet.

The group is also completing
a proposed outline of suggested
nature oriented activities that
can take place at Union Creek
and the surrounding areas.

The activities that are being
developed include kayaking
trips to Sheep Cay or Roller
Cay, hiking across Red Pond to
freshwater ponds and bird
watching at Union Creek,
where one can see Greater
Antillean Bullfinches, Bahama
Parrots and American Oyster-

Bolten at "Union Creek Reserve

catchers along the rocky shore.

Union Creek has been the
site of internationally famous
sea turtle research and the creek
itself provides a safe environ-
ment for juvenile green and
hawksbill turtles who spend
four to five years of their lives in
the creek feeding before head-

. ing out to live in the oceans. ©

“The story of Union Creek is
one of the great successes in our
BNT history.” said Lynn Gape.

LOCAL NEWS

BNT initiates planning at Union Creek
Resetve and Inagua National Park

i) NIXIN, , Dr Karen Biomndal Tamtica Rahniing and Dr Alan

“We want to share this story
with guests and residerits who

visit Union Creek and make it |

part of the visitor experience.”

“The trust wants to provide a
standard for national parks
around the country.” said Tami-
ca Rahming. “We feel that
improved signage to create an
awareness of the scientific
research conducted at Union
Creek, as well as working with
the community to develop activ-



Consolation Prizes

| Laptop « | iPod

tg aes eae hs ne ets 078 oe F Lies

Danaea

like beach bags, key rings, baseball caps

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high plete Ma dane hich eae baad Lit bit aod rs

THE TRIBUNE

@ NIXIN, Dr Karen Bjorndal, Tamica Rahming and Dr Alan Bolten at Union Creek Reserve
discussing upgrading facilities at the reserve

ities that utilise the environment
of the reserve without negatively
impacting the sensitive research

‘area will serve as a model for oth-

er parks in the country.

The trust held a special com-
munity meeting in the evening
featuring Dr Bjorndal who gave
a presentation on the 33 years
of research that has taken place
at Union Creek.

Wate rand Sewerage ‘marks 31 years

Sd beascsscsccsaeciee Meena daaaassbesdasescassseas

Mrs Gape ended the pro-
gramme with a presentation
that highlighted the resources
that are protected .in the Inagua
National Park and encouraging
residents to identify needs they
have in developing sustainable
tourism initiatives that would
use the parks.

“During our 33 years of
tesearch at: Union ce the

PrerrEEerery

people of Inagua have always
welcomed us warmly and we
are delighted to work with the
Trust in developing sustainable
tourism initiatives at Union
Creek.” said Dr Bjorndal. ?

Dr Bjorndal and Dr Bolten
serve as scientific advisors to
the Trust and Dr Bolten is the
chair of the BNT’s Scientific
eNO Committee. e
? a

Ad dedadannasesaaaes re sdeedssasaeaes, baa eaaaacaecenaiease

& ELWOOD Donaldson, senior assistant general manager of internal control and compliance at
WSC, presents the first slice of birthday cake to Agnes MePhee while employees, including are
Swann, Tyrone Miller and Donna Johnson, look on

‘SATURDAY marked 31
years of operation for the Water
and Sewerage Corporation.

To celebrate, the corporation
has proclaimed July Customer
Appreciation Month and has
taken to the airwaves and media
to reconnect with customers
and former employees.

The corporation also gave
special Peco oniHOn to retired

(Photo: TCL/Terrance Strachan),

clerk Agnes McPhee, who
worked with the corporation for
30 years before retiring in 1998.

“Mrs McPhee, was every-
body’s sister and mother. She
was a special lady. You could
ask her to do anything and she
would do it,” said Sidney Camp-

bell, senior manager of revenue

operations for WSC.
Mrs McPhee said she enjoyed

working with the corporation
and when she retiréd she was
treated to a party, given a telé-
vision set and a microwave in

‘addition to her pention.

She urged all employees at

' the corporation to do well and

give thanks in everything.

“If you please God, he will
help you to do your work yell. ee
she said.

eeneeeeeees Faden eden dad eeneneseeennenesenenneneeneenens

GB Health ears top employee named

li YVONNE Clarke, of Grand Bahama Health Services, was 15 presented with the Public Hospitals
Authority's Employee of the Year award (2007-2008) at the second annual employee recognition
and long service awards ceremony at Government House on July 12. Shown from left are Minister
of Health and Social Development Dr Hubert Minnis; Veta Brown, Public Health Authority
chairwoman; Employee of the Year Ms Clarke; Governor General Arthur Hanna; Herbert Brown,
Public Health Authority managing director.

'


“au




WEDNESDAY, JULY 18, 2007

B BUSINESS



= ) FIDELITY

HELPING YOU CREATE AND MANAGE WEALTH







‘NASSAU OFFICE
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business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street







Government approves
1,000 acre hotel project

* Long Island development next to Stella Maris to be mixed-use property
featuring hotels, marina/canal property, golf course, commercial village
* Bahamasair expected to resume Long Island flights by year-end

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

overnment has

approved a

multi-million-

dollar mixed-

use . resort

development next to the Stella

Maris Resort on Long Island,

Tribune Business learnt yes-

terday, although the identity

of the UK-based investor
group remains unknown.

George Friese, who operates

@ BYRON Woodside, minister of state for youth, sports and cul-
ture; Ross McDonald, head of Caribbean banking, RBC Royal -

the Stella Maris Resort, said
an investor had purchased
1,000 acres of land next to his
property for the construction
of a large development. The
project will include a mari-
na/canal property, golf course,

commercial village and one or °

two apartment-style hotels.
Mr Friese said the land in

question was the last unoccu-

pied property in Stella Maris,

and the investor group is now

securing all the relevant docu-

_ ments, permits and approvals -

such as subdivision approvals -
needed to proceed.

Bank of Canada; Larry Cartwright, Minister of Agriculture,
Marine Resources and Small Business; Edison Key, chairman

of BAIC; Nathaniel Beneby ur.,
head, RBC Royal Bank of Canada.

vice-president and. country

See full story on Page 7

a ee .

hes
if
'

CLICO (Bahamas)

Tribune Business Editor

CLICO (Bahamas), the
Bahamas-based life and health
insurer, saw its net income
decline in 2006, according to
an international insurance rat-
ing agency,
expressed concern about its
“high loan exposure” to group
affiliates.

In reaffirming CLICO
(Bahamas) financial strength
rating of B+ (Good) and a sta-
ble outlook, and giving the
company a bbb- issuer credit

Policy rleeded to address

which also.

net income drops

~ M By NEIL HARTNELL

rating, A. M. Best said it was
taking into account the fact
that the company was a sub-
sidiary of Trinidad-based CL
Financial Ltd, the well-known
financial services provider.
This ownership, coupled
with “overall insurance premi-
um growth and modest prof-
itability”, and the ability gain
efficiencies by drawing on its
parents’s information technol-
ogy, administration, actuarial
and investment resources, had

_SEE page 6

the Freeport ‘void’

@ By NEIL HARTNELL
Tribune Business Editor

POLICYMAKERS have
“never properly” addressed
the Hawksbill Creek Agree-

- ment, the Grand Bahama

Chamber of Commerce’s pres-
ident said yesterday, warning
that a “void” would always
exist on bonded goods. unless
standard practices and proce-
dures were agreed upon and
introduced.

In a letter to the editor, pub-
lished on Page 2B of today’s

Business section, Christoher '

Lowe, who is also Kelly’s
(Freeport) operations manag-
er, said the Supreme Court rul-

ing that backed the Home
Centre - and effectively now
allows it to bring in its entire
inventory bonded - did not
close the matter.

“T would contend, however,
that the issue is far from over,
and that until there are stan-
dards of procedure and prac-
tice available to all licensees
there will be more confusion
and arbitrary action taken by
Bahamas Customs,” Mr Lowe
wrote.

“T note, for example, that
having read the 65-page deci-
sion handed down, and inci-

SEE page 5

Mr Friese said the Bahamian

holding company for the pro-

ject was named Port St
George, but added that he was
not at liberty to reveal the
investor group’s identity,
although sources suggested
that the principals may be
based in the UK.

It is also unclear what the
project’s investment value is,
although some sources have
suggested it is between $40-
$55 million, and that may have
been for the land purchase
alone.

ject was approved by the
Ingraham administration with-

-in 30 days, having been await-

ing approval from the former
government for over one year.

The UK investor group is
being represented by Freeport:

based attorney Bradley Cal--

lender, who did not return The
Tribune’s call seeking com-
ment. Nor was any reply
received to an e-mail sent to
the UK investors.

The news of a major invest-
ment for Stella Maris comes

‘on the heels of Long Island

experiencing major economic

hardship as a result of the pro-
longed restrictions at the
island’s airport.

The airport was closed in

February 2006 for repairs to

the runway, which had a dev-
astating effect on Long Island’s
two major resorts, Cape Santa

Maria:and the Stella Maris -

Resort, and spin-off business-
es.

Even with the airport’s re-
opening, Bahamasair has not
yet resumed service, although
some charter flights, such as
Southern and Pineapple Air,
are able to bring in tourists.

Mr Friese said yesterday that
although the situation at Long
Island’s airport has had a
severe impact, he was confi-
dent the situation will be
improved.

Mr Friese said that the for-
mer administration worked
hard to address the airport
issues, and the new govern-
ment has indicated that
remains a top priority for them
as well.

Mr Friese said it was expect-
ed that Bahamasair: will
resume service to Long Island
by the end of the year.



















It is understood that the pro- -

Tribune Business Editor:

» SIR Jack Hayward has denied signing
a document that the late Edward St
George’s estate is relying on to prove
that it owns 50 per cent of the Grand
Bahama Port Authority (GBPA) and
Port Group Ltd, and alleges that if he
did sign it he was unaware of what it
meant or was “induced” into into believ-
ing it was “a routine document”.

_ In his defence and counterclaim in the
legal dispute over the GBPA and Port

Group Ltd’s ownership, Sir Jack denies
the St George estate’s assertion that he








Sir Jack: I did not sign 50/50
| Port ownership documentation

_ @ By NEIL HARTNELL

signed a March 11, 1982, document
addressed to Don de la Rue; the then-
president of the two companies’ holding
vehicle, Intercontinental Diversified Cor-
poration (IDC).

In its statement of claim for the July
25-27 trial, the St George estate said the
letter set out an agreement between the
late Mr St George and Sir Jack on how
IDC and its subsidiaries, tagging the
GBPA would be run.

The St George estate alleged: “It was
agreed that if Mr St George ran the IDC
operation full time, he would obtain a
50 per cent holding in the company........

The letter was signed by both Sir Jack









Hayward and Mr St George.”
The document stated that Sir Jack and

“Mr St George, at that-date, held 525,247

and 100,000 shares respectively in IDC.
It seemingly outlined a process where
“all future dividends or proceeds of the
sale or redemption” from these 625,2476
shares would be paid to Sir Jack, until he
received total proceeds of $7.208 million
(the price needed to acquire 225,247
shares at $32 per share) plus interest at 12
per cent per annum from August 1, 1978.
This, effectively, describes an alleged

SEE page 8



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PAGE 2B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE



BUSINESS



INSIGHT

For the stories

behind the news,
read Insight
on Mondays



Dear Sir/Madam,

was very pleased to see

a statement from Ray

Simpson, the president

and chief executive of
Freeport Concrete Company
(FCC), in response to articles
in the Business section of The
Tribune.

I agree wholeheartedly with
Mr Simpson that the most
recent court ruling handed
down in favour of the Home
Centre, with respect to the
bonding of inventory, is of

YOUR CONNECTION#*TO THE WORLD

TENDER
RESEARCH COMPANY

The Bahamas Telecommunications Company Ltd. (BTC) is
pleased to invite Tenders to provide the BTC with Market
Research Assistance. Research Assistance includes; local market
scope, field work and research information on the Bahamas
Telecommunications Industry.

licensees of the Grand Bahama
Port Authority, as are all the
prior court rulings that have
addressed the same issue. I
would contend, however, that
the issue is far from over and
that until there are standards
of procedure and practice avail-
able to all licensees there will
be more confusion and arbi-
trary action taken by Bahamas
Customs.

I note that central to FCC
counsel’s arguments was a pro-
vision that a practice of paying
duty on all merchandise
stocked in-store below seven

.to eight feet, and bonding all
other stock above that height,
was in effect a standard prac-

Interested companies/firms may collect a Tender Specification
from the Security Desk located in the Administrative Building,
BTC John F. Kennedy Drive, between the hours of 9:00am and
4:00pm Monday through Friday.

of the public.

' ‘This is to my knowledge not
so, but rather was a unique
practice accepted by Bahamas
Customs with respect to one

ing a similar practice after that.

That practice, though, was
based on the assumption that
there was law in effect that said
no bonded goods could be dis-
played to the public, or the
assumption that bonded prices
could not be advertised.

To clarify and agree with Mr
Simpson, the licensees-should
read the Hawksbill Creek

The deadline for submission to tenders is on or before Friday
July 27th, 2007 at Spm. Tenders should be sealed and marked
“TENDER FOR RESEARCH COMPANY” and should be
delivered to the attention of Vice President of Marketing, Sales
'& Business Development, Mr. Marlon Johnson.

BTC reserves the right to reject any, or all Tenders.



ments, and. a five court rul-

FIRSTCARIBBEAN -

INTERNATIONAL BANK

CAREER OPPORTUNITY
for
Human Resources Manager

Nassau, Bahamas
Qualifications: |

Duties include:

* Bachelor’s degree in related field (Mandatory) ~ Masters Degree
preferred

e 5-10 years experience in Human Resources (HR). A broad
knowledge/experience base in several HR areas (e.g. consultation,
recruiting, employee relations, etc.)

¢ Knowledge of employment law and industrial relations

e PC skills: Advanced Excel and Word mandatory

General Responsibilities (not all inclusive):

/Y Employee Relations - Provide guidance to managers & supervisors ©
in supporting proactive HR plans, products or activities. The incumbent
will develop an understanding of the client’s business and a relationship
with managers & supervisors and other staff within the client units
by maintaining a close consultative relationship

V In consultation with the HR Head, provide input into strategies,
policies, procedures and new initiatives to ensure they are consistent
with overall Bank strategy and objectives

Y Provide operational management of on-going activities in the delivery
of services (compensation, HR administration), including the
supervision of some HR staff :

Â¥ Provide support to the HR Business Partner in all IR negotiations and
strategy development

/ Responsible for all entry-level recruitment includifig management of
requests from the business and the FirstStart Initiative

v Provide guidance and counsel on hiring and discipline practices

Y Plans human resources activities and ensures they are carried out to

service standards

clients.

Remuneration:

e Salary commensurate with management position at the FC Level 6
(Note: 1 - 11 job levels)

¢ Benefits- attractive salary, six weeks vacation, tie cated loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefit.

Applicants are requested to submit their resume with a cover letter via
email by July 23rd , 2007 to: siobhan.lloyd @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their interest,
however only those under consideration will be contacted.

Vacancies are open to Bahamians only.



great importance to all.

tice, as it was out of the reach

licensee, with another adopt-

“~wapreement’and its amend- ~




| LETTER TO THE

BUSINESS EDITOR

ings handed down, as they are
of great import to all licensees.
However, once read there will
still be confusion, as the written
does not resemble the practice.

I note, for example, having
read the 65-page decision
handed down, and all of the
prior rulings pertaining to this
subject, that there is still no

common understanding of the -

practice of the bond. As the
ruling states, there is no provi-
sion anywhere in any Act that
provides for the over-the-
counter-bonded sales of mer-
chandise. We operate in a void,
a void that has evolved over

" time.

There is still much work to
be done, and I as a licensee and
as president of the Grand
Bahama Chamber of Com-
merce intend to provoke
thought and action on behalf
of all licensees, not just those
with the finances to project
their own agendas.

As for Kelly’s Freeport, we
are not disturbed by the Home
Centre’s apparent ability to
henceforth bond their entire
inventory, as we will be the
least affected by this newfound
right or privilege, being a very
competitive and long-standing
licensee of excellent repute. So,
having won the right, I assume
the Home Centre will do just
that, as will Kelly’s and all oth-

‘er over-the-counter-bonded

goods merchants.

But we will still work
towards a more open dialogue
with the Port Authority, Min-
istry of Finance and licensees
for a.greater and more level

" playing field here in Freeport.

This effort was started last year

under the auspices of prior .

Chambér Ppresident*Doswell



~Coakley, John Rolle’“of _ Frei

ne

Chamber president
replies over bond

Bahamas Customs and Julian
Francis, the then chair of the
Port Authority. Although only
one meeting was held, and held
primarily to resolve the revo-
cation of the over-the-counter
bond letter practice, it was
thought by al]. present that it
was productive and enlighten-
ing, as these very questions of
display and advertising were
taised, along with the acknowl-
edgment by Mr Rolle that
there was no basis in law or
any rule against the practice.

In fact, the question of bond-
ing an entire inventroy also
came up, but unfortunately
with the removal of Mr Francis
as chairman of the Port, these
talks stalled along with much
else in Freeport.

It is unfortunate that I |

appear to be “fence sitting” to
Mr Simpson, but I can assure
you as Chamber president one
must be aware of all sides of
any given situation. And while

this ruling is generally good for.

business in Freeport, it is better
for some than others. If some
licensees who have funds tied
into prepaid duty on inventory
wish to attempt to recoup their
funds, it is within their right to
do so, as one must admit it
would be harder to sell at duty
paid prices than at bonded if

there is going to be a wider —

availability of bonded goods,
for company use of course.

T look forward to further.dia-
logue with everyone in our

business community, regard- ©
_less of their size, prominence

or aspirations, as we work to
compete, succeed and raise the
standards of service and prod-
uct availability in Grand
Bahama, bonded or duty paid.

Christopher D. Lowe

President, the Grand
Bahama Chamber of Com-
merce

Operations Manager, Kelly’s
forts co ee ae

BAC HER.

member of the QNB Group

Candidates should possess:

Spanish speaking skills would be an asset
Excellent salary & benefits

P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

July 20th, 2007



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

CLIENT RELATIONSHIP MANAGER

¢ Management and motivation of a small team of relationship officers
providing guidance, supervision, performance, personal development &
control of the job reportees.

Having accountability for the relevant team’s performance - ensuring
teams objectives and developments are up to date.

Cross-selling the group products in conjunction with organizations goals.

Acting as the main contract for clients on your relevant portfolio: sourcing,
collating and managing all their needs either internally or externally.

Working within a closely regulated environment one financial input to

Implementing case management strategies, together with the ability to
service high net work clients/intermediaries.

*

¢ ACIB or ABIFS diploma or degree in Banking or a related business field

Seven or more years of management experience, ideally covéring banking
and control management

Proven leadership, interpersonal and strong motivational qualities

Strategic awareness with in the private banking industry

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited

Email: hrmanager @ansbacher.bs

Deadline for all applications by hand, fax or email is

a oe
Basel
Lyondell
to merge

BUSINESS

The Miami Herald gal

MARKETS

WEDNESDAY, JULY 18, 2007

3B

INTERNATIONAL EDITION

Dow crosses 14,000 but ends session lower

BY TIM PARADIS
Associated Press

NEW YORK — The Dow Jones
industrial average swept past 14,000
for the first time Tuesday after a:
mostly tame inflation reading gave
investors reason to extend an

extraordinary — but perhaps ques-

tionable — Wall Street rally.

The stock market’s best-known
indicator crossed 14,000 in the first
half-hour of trading though it didn’t
close above that level; it did, how-
ever, manage its fourth record close
in as many sessions. The Dow rose as

high as 14,021.95, having taken just 57

trading days to make the trip from
13,000. Broader market indicators
closed mixed.

Stocks have risen fairly steadily

‘ since the spring amid a continuum of

buyout news and evidence that
despite higher fuel prices and the
ongoing problems in the housing
market and mortgage lending indus-
try, consumers are spending and
companies are still finding room for
growth. With the Federal Reserve
ever vigilant about inflation, any
news that prices are rising at a mod-
erate pace has added to the market’s
momentum, as it did Tuesday.

The release of generally upbeat
earnings reports also helped reassure
a market that had worried that a
slowing economy and rising energy

‘ prices could cut into corporate prof-

its. :
But the Dow’s latest accomplish-
ment does raise questions about

CHEMICALS



in $12.1B
cash deal

BY JOHN PORRETTO
Associated Press

HOUSTON — Dutch
chemicals company Basell and
U.S. competitor Lyondell
Chemical said Tuesday they'll
combine in a $12.1 billion cash



SETH WENIG/AP

A RECORD: A new high for the Dow Jones is seen on a billboard in
Times Square in New York, left, on Tuesday. The Dow rose as high
as 14,021.95, having taken just 57 trading days to make the trip from

13,000.

whether investors are buying more
on speculation than fundamentals —
and whether these gains can hold.
The market still faces issues includ-
ing rising oil prices that could crimp
consumer spending. And a drop in
takeover deals could puncture inves-
tor sentiment, as could a further
souring of subprime loans amid a
cooling housing market.

The past week shows how easily
swayed Wall Street can be. A week
ago, the average tumbled nearly

150 points after investors received a
handful of disappointing profit fore-
casts. Only two days later, on Thurs-
day, the Dow barreled 283 points
higher as investors put a positive spin
on a generally lackluster batch of
retail sales reports.

“One of the things we know about
the Dow being only 30 stocks is that
it is a bit less representative of the
entire market, but it is still a sign that
large-cap multinationals continue to
drive this market,” said Peter Dunay,

THE MARKETS

STOCKS, MUTUAL FUNDS, 8B

DOW30 ‘13,971.55 +2057 AX
sapsoo 8 s«sa9.37. 0s W
NASDAQ 2,712.29 414.96 AX
10-YRNOTE 5.06 +02 A
CRUDEOIL = 74.02. -is

an investment strategist with New
York-based Leeb Capital Manage-
ment. “For the moment, the momen-
tum and strength is so good. You
can’t fight it.”

Other observers were more
upbeat about the market’s recent
advance.

“You have the Dow moving up
above 14,000 and it did not take that
long, but you also have Nasdaq par-
ticipating,” said Quincy Krosby, chief
investment strategist for The Hart-
ford, noting that the:market’s rise
appears broad-based.

“It’s forcing some money on the
sidelines to come in,” she said, refer-
ring to reluctant money managers
who have been awaiting a pullback to
enter the market. “Needless to say,
the higher it goes and the quicker it
goes, the more susceptible you are to
a pullback. A pullback would be
healthy and normal.”

The Dow rose 20.57, or 0.15 per-

cent, to close at 13,971.55.

Broader stock indicators ended
mixed. The Standard & Poor’s 500
index slipped 0.15, or 0.01 percent, to
1,549.37 having set its own record
highs in recent sessions. The Nasdaq
composite index rose 14.96, or 0.55
percent, to 2,712.29.

Declining issues outnumbered
advancers by about 3 to 2 on the New
York Stock Exchange, where consoli-
dated volume came to 2.96 billion
shares compared with 2.70 billion
shares traded Monday.

Bonds fell, with the yield on the
benchmark 10-year Treasury note
rising to 5.06 percent from 5.04 per-
cent late Monday. The dollar was
mixed against other major curren-
cies, while gold prices fell.

Light, sweet crude fell 13 cents to
$74.02 per barrel on the New York
Mercantile Exchange, after trading as
high as $75.35 per barrel. Oil hasn’t
closed above $75 since last August.

The short time that it took the
Dow to pass this its milestone recalls
its ascent during the dot-com boom,
especially because it took only 129
days to make the passage from 12,000
to 13,000.

In market action abroad, Britain’s
FTSE 100 fell 0.58 percent, Germa-
ny’s DAX index fell 0.83 percent, and
France’s CAC-40 fell 0.43 percent. In
Asia, Japan’s Nikkei stock average
fell 0.12 percent.

The Russell 2000 index of smaller
companies rose 1.42, or 0.17 percent,
to 849.89.





DAVID J. PHILLIP/AP

POWERHOUSE: Richard Juarez takes a pressure reading inside a propylene oxide
styrene monomer plant at the Lyondell Chemical Channelview Complex, Tuesday, in
Channelview, Texas. Dutch chemicals company Basell’s planned merger with
competitor Lyondell would create a global powerhouse in the industry. «

"BEING.

. : Associated Pres:
ee



















i a ane world’s No. o
, _consumer, _ with -
lem d rising by about 7

ercent a year. Imports

half of this year,
Chinese companies

are stepping up efforts to
find more _ domestic

yared by 112 percentinthe

ing to the govern- —

deal to create one of the
world’s largest chemical com-
panies. It would mark the third
big combination in that indus-
try in recent months.

Just last week, Basell
walked away from a $5.6 bil-
lion deal to buy chemicals
maker Huntsman Corp. after it
was outbid by nearly $1 billion
by private equity firm Apollo
Management. Some analysts
speculated that deal fell apart
because Basell was looking at
Lyondell.

“This combination ... cre-
ates one of the top chemical
companies in the world,” Len
Blavatnik, the Russian-born,
Harvard-educated industrial-

‘ist whose firm controls Basell,

said in a statement.

Shares of Lyondell shot up
more than 17 percent to close
at a 52-week high of $47.05,
gaining $6.93. The shares had

MORTGAGES

traded in a range of $20.99 to
$41.30 in the past year.

Basell said it would pay $48
per share in cash for Lyondell,
a 20 percent premium to
Lyondell’s closing share price
Monday. Lyondell had 252.9
million shares outstanding as

of March 31. The two compa-~

nies pegged the total value of
the deal, including debt, at $19
billion.

Lyondell, based in Houston,
produces ethylene, a crucial
precursor to a range of other
chemicals, as well as propyl-
ene oxide, which is also used
in producing a variety of
chemical products. The com-
pany also operates a-refining
business.

Basell focuses on polyole-
fins, common types of plastic.
It’s owned by Blavatnik’s U.S.-
based Access Industries, a pri-
vately held industrial holding

company with investments in
the U.S., Europe and else-
where.

Wall Street analysts had
conflicting takes on the combi-
nation.

J.P. Morgan Securities ana-
lyst Jeffrey: Zekauskas said
he’d continue to hold Lyondell
shares and didn’t rule out the
possibility of a higher bid by
an integrated oil company or
foreign energy company.

“We speculate that a strate-
gic bidder could value the
refining and petrochemical
assets of [Lyondell] at $50 a
share or above,” Zekauskas
said in a research note.

Bank of America Securities
analyst Kevin McCarthy said
absent any meaningful anti-
trust concerns, he expects the
deal to close..In a research
note, McCarthy called the
combination a good strategic

fit, noting that both companies
compete in polyethylene and
that Access’ market presence
in Europe could complement
Lyondell’s position as the sec-
ond-largest ethylene producer
and the third-largest polyeth-
ylene producer in North
America.

The combined Basell-Lyon-
dell would have annual reve-
nue of more than $34 billion
and more than 15,000 employ-
ees, the two companies said.
By comparison, Dow Chemi-
cal, the largest U.S. chemical
company and second globally
behind Germany’s BASF AG,
had sales last year of roughly
$50 billion.

The Basell-Lyondell deal
was unanimously approved by
the boards of both companies,
who said they expect it to
close “in the next several
months.”

Regulators to crack down on lenders

BY ALAN ZIBEL
Associated Press

WASHINGTON — Federal and state
banking regulators on Tuesday said they
would step up their scrutiny of lenders
that make home loans to people with
shaky credit, focusing on companies that
operate outside federal banking oversight.

The pilot program announced by the
Federal Reserve, two other federal agen-
cies and state banking officials is sched-
uled to start in the fourth quarter and

affect about 12 lenders.

It will be designed to examine firms
that account for the majority of subprime
loans, a category that has experienced a
surge of defaults in recent months.

Problems in subprime first emerged in
February, when lenders HSBC Holdings
and New Century Financial reported

mounting payment defaults.

Numerous subprime lenders have
since gone bankrupt or have been sold.
Foreclosures were up 87 percent last
month from year-ago levels, real estate
information company RealtyTrac said last

week.

Congress.

Lawmakers have blasted the Fed for
lax regulation of the mortgage market
before the problems came to light.

Last month, Rep. Barney Frank, chair-
man of the House Financial Services
Committee, threatened to strip the Fed-
eral Reserve of its authority to write rules
against mortgage abuses if the central

The announcement of the program
comes one day before Fed Chairman Ben
Bernanke is scheduled to give the central
bank’s midyear economic forecast to

bank did not act quickly. And Sen. Chris-
topher Dodd, a Connecticut Democrat
and presidential candidate who chairs the
Senate Banking Committee, said in May
that a “chronology of regulatory neglect”
allowed the problems in the subprime

market to go unchecked.

Only about a quarter of subprime loans
in 2005, the most recent year available,
were made by federally regulated banks,
according to the Fed. The rest were made
by state-licensed lenders and subsidiaries
of federally regulated banks that operate
with limited federal regulation.

The agencies said they would coordi-
nate reviews of lenders and mortgage
brokers to make sure they comply with
consumer protection laws and evaluate
the lenders’ underwriting standards.

©

China, s
Janahi, chief executive offi-
cer of Gulf Finance House,
‘its main backer. a) aS
_ China’s Mideast ties are
_ growing as Beijing boosts —
oil imports to fuel its boom-
ing economy. Gulf inves-

tors, flush with revenues
from high oil prices, are
looking to China and other
thriving Asian economies
for new opportunities.

“We are here to share
the prosperity of this great _




d Esam ‘Yousi

country,” Janahi said.

The oil center, dubbed P
the International Energy —

City and located in Sanhe, a

city on the Chinese capital’s

eastern outskirts, aims to
attract foreign and Chinese
oil companies with a busi-
ness park, a Chinese-Arab
business school, laborato-
ries and executive housing,
Janahi said. He said it could
be completed within five
years.

Janahi and a Sanhe city
official signed a letter of
intent Tuesday to begin
developing the project. He
said a construction timeta-
ble and other details were
being worked out. .

Gulf Finance House and
a group of partners are
developing similar energy
industry centers in Qatar in
the Gulf and near Mumbai,
India’s commercial capital.

The Beijing project has
no tenants committed but
the bank is talking to com-
panies in its other projects,
Janahi said. He said financ-
ing is expected to come
from a group of several








in ‘China isn’t clear.
The Chinese industry i is
dominated by three giant

‘state-owned companies

that account for about 75

s percent of production. For-

eign investors are limited to
stakes of no more than 51

percent in joint ventures |

with Chinese partners.

Even major players like

Chevron and ConocoPhi-

_ lips keep only small Beijing

offices, most in the center

of the capital to be near
Ministries and state-owned

artners.

“You don’t really need a
lot of space,” said Jim
Brock, an industry consul-
tant in Beijing.
Investments in China by

the six Arab Gulf countries
— Saudi Arabia, Kuwait,
‘United Arab Emirates,

Qatar, Oman and Bahrain

— are expected to grow

rapidly in coming years.
Dubai-based port man-

ager DP World, a China

veteran with operations
here since the early 1990s,
operates facilities in five
cities and is paying for a
$500 million development

in the eastern port of Tian- |

jin.

Saudi Arabian state oil |

company Saudi Aramco is a
partner with ExxonMobil
and China’s Sinopec in a
planned $5 billion petro-
chemical refinery in south-
eastern China.

Kuwait’s state-owned oil
industry is financing a $4

billion refinery in the.

southern Chinese province
of Guangdong.

even ah ‘con- |
sumption soaring, the mar--
_ ket for oil industry facilities
MiamiHerald.com | THE MIAMI HERALD

4B WEDNESDAY, JULY 18 2007 INTERNATIONAL EDITION



















sap 500 NASDAQ 4M Dow 6-MO T-BILLS @ 30-YR T-BONDS @&+,.04 GOLD BY -30 urn Y CRUDE OIL ;
1,549.37 15 5712.29 Mt14.96 1397155 MM +20.57 4.89% +.03 5.16% $664.70 1.3784 -0000 “$74.02 13
: pr eereeeeesereeeneneesacgeaeage | : 2,800 neteesiitieetaaeg aged nie Last __ Chg Interestrates NET 1yR
Se me ce TREASURIES _YEST PVS CHG WK MO QTR AGO
2,700 Schwab 22.25 Wy 3-month T-bill 4.81 484 -0.03 = aA W 497
SeagateT 23.20 +.42 FErae] 6-month T-bill 4.89 486 +003 a A W_ 5.09
SearsHIdgs 155.17 = -.54
Sires 2,600 SempraEn 58.04 -.36 e l-yearT-note 5.03 5.00 +003 A A â„¢@ 5.22
ShawCg 46.96 +.58 A 2-year T-note 489 486 +003 aA W W_ 5.12
; Sherwin 67.69 +.98
450 - 2,500 bone Shinhan 14099 -84 5-year T-note 4.98 494 +004 A W A 5.03
: ; ‘ Shire 74.98 -.98 10-year T-note 5.07 5.04 +003 a V A 5.07.
: 3 : : E . f SiderNac 56.00 = -.09 ; ~ 12 +0.
1,400) 2S tee SB i5s.: aN Sonera S he bateetes > S&P 500 2,400 ©... Reg fei Nasdaq composite Siemens 14866 2.13 30-year T-bond 5.16 5.12 0.04 A V A 5.10
: Close: 1,549.37 Close: 2,712.29 Slcnware 1163 -.01 NET 1YR
Change: -0.15 (Flat Change: +14.96 (+0.6% SimonProp 93.61 = -.77:
1,350 Woo N eee nae e rakes sem ec reser ee seer senuereeeeensue rene eosey ge OI greyed ) ah 300 Bu As ADORSA wORes ees saqeranboeseneseesessbeudsbayesons 9 eeeesnervsenius is aNecotseve ) fe Smith&N 64.21 -.02 . BONDS YEST PYS CHG WK MO QTR AGO
J oF M A M J J J F M A M J J Smithintl 60.89 -.44 Lehman Bros Bond Idx5.21 5.18 +003 A V A 521
SonyCp = 51.92° 55 Bond Buyer Munildx 4.83 482 +001 = V A 488
SouthnCo 34.32 -.10 Lehman US invGrade 5.70 575 -005 WV WV A 515
StocksRecap HIGH LOW CLOSE CHG. %CHG. WK MO QTR YTD See Ue Lae Pree rinps lehman USHigh Vield823 831-008 A A A 861
DOW 14021.95 13942.85 1397155 ‘+2057 +0.15% A A A +12.10% - SwstnEngy 43.44 +01 Vest 8.25 5.24 MoodysBondindex 5.75 582.007 V WV A 583
MYSE:- .WASD:«|" DOW Trans. -° A206) ESET Sar SEL POS A Ng arene SovrgnBcp 21.86 +08 PREV 8.25 83] Bank Index 115.46 11496 +050 a VV 10635
DOW Util. 510.64 50664 507.01 -042 -0.08% A A A +11.00% SpectraEn 26.23 . Di.corp Bond 19683 19739 056 VA A 1B
Vol. (ih mil.) 2,962 2,125 | NYSEComp. 1021608 0166.27 10170.36 -17.82 -0.17% A A & +11.28% SonntNeRee dT ans nee Papo tee se ae
Pvs. Volume 2,706 1,725 | NASDAQ 2719.94 2701.56 2712.29 +14.96 +0.55% A A A +12.30% SPDR 15475 08
Advanced 1366. 1551 | S&P 500 1555.32 1547.74 1549.37 -0.15 0.01% A A A +9,24% SPMid’ | 167.64 4.35 ;
Declined 1893 1486 | S&P 400 926.60 920.21 921.96 +1.75 +0.19% A A A +14.62% Staples 2482 +23 | Commodities — commoprry CLOSE PVS. %CH. %YTD
NewHighs 228 181:| Russell2000 854.67 849.79 849.89 +142 +0.17% A A A +7.90% Starbucks ©2587" 21 | sae Unleaded Gas (gal) °2.10 2.13 -1.41 +31.1
New Lows 88 90 | Wilshire 5000 15717.19 1564231 15655.54 _+0.41 a id & A 49.81% StarwdHtl 7419-1 | Crude Oil (bbl) 74.02 74.15 -0.18 +21.2
StateStr 71.87 +1.48 Gold on ‘ ete eee -0.05 +4.6
. i a Platinum (oz 1325.60 1330.10 -0.34 +16.4
WidelyHeldStocks Ne ee ot oe Silver (02) 1292 1297 -039 +09
Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg StoraEnso 18.63 31 Coffee (Ib) 1.11 1.09 +1.83 -12.0
ABBLtd 24.39 «=-.36 , BostProp 10450 -62 , EMCCp 19.02 -11 | iShEAFE 83.09 -28 , NIIHidg 87.70 +1.30 | Stryker 67.53 +.04 Orange Juice (Ib) 1.27. 1.28 = -0.78 ~—-36.9
ABN Amro 50.85 -.18 | BostonSci 15.38 -.12 | -ENI 76.71 -.73 | iSRIKVnya 8883 -.16 | NRGEgys 43.94 +.04 | Suez 56.65 -.46 Sugar (Ib) 0.10 = 0.10 - = 14.9
ACELtd 61.44. -31 | BrMySq 32.14 +04 | EOGRes 7269 -36 | iShR2Knya 84.57 +.09 | NTTDOCo 1533 +02 |‘sunLffng 49.26 +29
AESCorp 22.23 -.03 BritATob 68.11 -.12 EKodak 28.42 -.10 ITT Corp 72.04 +.96 NYMEX 140.07 +1.09 | SunMicro 5.29 —--.05
AFLAC 52.59 +19 | BritSky 57.53 -.67 | Eaton 102.00 +113 | TW 5816 +15 | NYSEEur . 80.62 -229 | Suncorg 93.29 -.24
AMR 27.93 +.43 Broadcom 32.84 +.43 EchdStar 43.49 = -.43 ImpOilgs 48.78 -.27 Nabors 31.48 -.14° | Sunoco 78.97 3.35 Foreign
ASMLHId 29.91 +1.28 ‘| BrkfldAsgs 39.78 -.50 | Ecolab 43.60 -14 | ImpTob- 90.01 +.19 | NBkGreece 1255 +.01 | Suntech 4201 -.95 Exch ae GMO. —1YR.
AT&TInc 39.84 -37 | BrkfidPrs 24.09 -.06 | Edisonint 57.47 -15 | IndoTel 49.43 -52 | NatlCity 3305 -16 | Suntrst 9938 +23 Change couNTRY CHG. _%CHG. AGO AGO
AUOptron 17.51 +.55 BungeLt 84.36 = -.60 Edwards 85.93 +.04 Infineon 1848 -.01 NatGrid 72.04 -.55 Supvalu 47.50 4 Argent (Peso) 3223 —--.0000 -00 3248 -.0022
AXA 44.60 -27 | BurlNSF 90.60 +1.04 | ElPasoCp 17.49 -.05 | Infosyss 52.95 +78 | NOilVarco 112.54 -20 | Swisscom 36.07 +.01 Brazil (Real) 5377 +.0027 +50 4679 +.0858
AbtLab 53.39 -.17 CA Inc 26.24 = +.05 Elan 21.93 +.33 IngerRd 55.81 -.07 NatSemi 28.83 -.22 Symantec 19.66 -.08 b Britain (Pound) 2.0461 +.0090 +44 1.9691 +.2271
AberFitc 73.25 +.10 CBREllis 40.87 -.09 ElectArts 49.47 +1.38 Intel 26.33 +.38 NetwkAp 30.42 +.94 Syngenta 40.10 — -.08 : Canada (Dollar) 9585 = -.0004 -04 = 8525 +.0775
Accenture 41.91 -.59 | CBSB 34.43 -.44 | EDS 28.44 +.07 | IntcntlEx 166.85 -3.13 | NewellRub 29.15 -12' | Synovus 30.95 —-.08 \/ Chile (Peso) 001939 -,000001 = -.05 = .001845 +.000108
AdobeSy 41.46 +.40 CDWCorp 85.40 = -.15 Embarq 64.00 +.02 IntCtlHtl 26.22 = -.21 NewfldExp 49.96 +.5@ Sysco 32.20 -.48 : Colombia (Peso) .000519 +.000002 +.39 .000449+.000128
AMD 15.84 +12 | CGGVerit 52.77 --.89 | EmersnEls 5049 +27 | IBM 110.77 +111 | NewmtM 41.01 -10 | TDAmeritr 19.78 +.15 Dominican Rep (Peso) 0301 -.0000 -.00 .0299 - -.0004
AdvSemi 7.31. «+08 + | CHRobins 53.55 +28 | EElChile 45.46 -59 | IntlGame 36.94 -.41 | NewsCpA 2248 +52 | TDK 92.58 +.56 Euro (Euro) 1.3784 0000-00 »—:1.2932 +1262
Advantstrs 45.27 +83 | CIGNAs 5373 -.18 | Enbridge 3545 +35 | IntPap 40.18 +17 | NewsCpB 24.25 +62 | TIX 29.62 +.23 Japan (Yen) 008171 -.000038 -.47 008287 -.000363 -
Aegon 19.51 -.14 CIT Gp 55.43 +.24 EnCana 62.53 —_-.30 Intuit 29.94 = -.13 Nexengs 33.03 +.50 TXUCorp 67.40 ~—s- ++.06 Mexico (Peso) 093111 +.000381 +.41 091355 +.002036
Aetna 49.94 -.07 CMEGrp 583.75 = -2.55 Endesa 54.19 +.04 Invesco 26.83 -.30 Nidec 14.48 =-.40 TaiwSemi 11.74 +.06 Uruguay (New Peso) .0421 — -.0000 -00 = .0409-- +.0001
Agilent 39.80 -.04 CNA Fn 47.89 -05 | Enel 54.58 -.28 Ipsco g 159.85 NikeB wi 59.45 +.67 TalismEgs | 19.92 -.05
Ahold 13.50 +10 | CNHGbl 5442 -145 | EngyTEq 40.90 -.13 | JPMorgCh 49.92 +09 | NippnTT 22.21 -.05 | Target 68.52 -.37
AFrance 46.60 = -.04 CNOOC 122.50 +2.56 EngyTsfr 62.66 -21 JacobsEs 65.55 +1.64 Nissan 21.58 — -.30 TataMotors 1842 -15
AirProd . 87.89 +40 | CPFLEn 6387 +.72 | Enersis © 1880 -.40 | John 62.74 1,06 | NobleCorp 9855 -1.62 | Technip . 8352 -.77 GlobalMarkets
AkamaiT 49.14 +22 | CRH 51.45 +.06.| EnhEgYP 1843 -27 | JohnsnCtl 124.81 -1.54 | NobleEn 65.03 +92 | Teckcmgs 4869 -.22
Akzo 87.99 +21 | CSXs 48.52. -.23 | ENSCO 60.75 -11 | JoyGlbl 62.99 -1.35 | NokiaCp 30.07 +22 | TelcNZ 29.97 . +.48 | INDEX YEST CHG %CHG WK MO QTR YTD
Alcan 96.61 -33 | CVSCare 36.07 -12 | Entergy 107.77 -.14 | JnprNtwk 27.10 +14 | Nomura 1805 -14 | Telitalia 2871 +26 | S&P500 1549.37 -0.15 0.01% A A A +9,24%
Alcatelluc 14.07 -.17 | CablvsnNY 38.20 .+.58 | EntPrPt 32.85 -.33. | KLA Tne 61.78 +5.08 | Nordstrm 47.87. -.49 | TelitaliaA 22.77. +.14 Frankfurt DAX 8038.21 -67.48 -0.838% A A A +21.85%
Alcoa 46.61 -.16 CadbyS 53.47 +.11 EqtRes 51.33. +35 KPN 16.72 = -.10 NorflkSo 56.62 -.04 TelSPaulo 36.91 +1.03 _ sy
Alcon 143.44.«-+.06 | Camecogs 4674 -1.75 | EqtyRsd 4629 -38 | KTCorp 2511 +14 | Norsk 41.87 -89 | Telefesp 72.11 +78 | London FTSE 100 enero IR Shope ORR it IR SP ela ea hl
AllgEngy 55.05 -.05 | Cameron 7654 -13 | EricsnTl © 41.72 -28 | Kellogg 51.37 °-.59 | Nortellfrs 2433 41.01 | TelMexL 37.19 -119 | Hong Kong Hang Seng 23057.30 +103.36 +0.45% A A A +15.49%
AllegTch 113.44... -.37 | CampSp - 3823 -.57 | Esteeldr 47.48 +42 | Keycorp 36.71 +161 | Nortrst 67.89 +76 | TelDatalf 72.80 +208 | Paris CAC-40 6099.21 26.39 _-0.438% A A A +10.06%
Allergans 57.78 = -.52 CIBC g 94.11 +12 EverestRe 112,00 -1.56 KeySpan 4163 -.12 NorthropG 77.71 - +.71 Telkom 97.48 +1.72 Tokyo Nikkei.225 18217.27 -21.68 + -0.12% VA A_ +5.76%
AlliBern 89.87 CdnNRyg 54.87 = +.21 Exelon 17.66 = +.62 KimbClk 66.77 = -.65 Novartis 54.13 -1.32 Telus g 60.25 +.51 : ;
Allianz 23.77 -.23 CdnNRsg 69.78 = -.21 Expedia 29.60 +.10 Kimco . 3972 = -.58 NovoNdk 109.47 = -.23 Templein 65.19 +.29 SOUTH AMERICA / CANADA ;
Aldirish 56.08 © -.31 CPRwyg 73.99 -1.16 Expdintl 46.54 +.64 KindME 55.84 = -.07 Nucor 62.39 . +.10 Tenaris 49.37 -.78 .
Allstate 60.42 -.34 | Canons 5835-33 | ExpScrips 5422 +34 | Kinrossg 13.21 +.03 | Nvidia © 4650 -20 | Terex 9350 -.63 ee fehl ere pes esc : ; ae
Alltel 67.62. -23 | CapOne 76.39 +19 | ExxonMbl 89.09 -.61_| Kohls 66.96 -115 | OcciPets 60.27 -1.27 | Ternium . 3224 +25 Srico re ity, Borsa : : : :
AlteraCp if 24.89 +59 | CardniHith 71.28 +37 | FPLGrp . 5800 +51 | Kookmin 91.50 -.46 | OffcDpt 29.76 +08 | Tesorowi 55.05 -2.45 | Sa0PaoloBovespa 57659.65 +285.25 +0.50% A A A +29.65%
Altrias 71.28 += -.03 | Carnival 47.64 «= -.07_ | FannieMIf 65.84 +.30 | KoreaElc 2518 -.16 | Omnicms 53.24 -.67 | TevaPhrm 4385 +.41 | Toronto S&P/TSX 14382.01_ +43.76 +0.31% A A & +11.42%
Alumina, 30.11) -.31 CarnUK 46.79 = -11 Fastenal 47.82 -.75 Kraft 35.87 +.35 Oracle 20.38 +18 | Texinst 39.18 +.11
AlChinas 47.69 = -.06 CarolinaGp 78.50 -.58 FedExCp 116.42 +.78 Kroger 28.91 -.26 Orix 125.75. -2.06 Textron 114.75 -1.28 ASIA
AmBevC 74.66 +66 | Caterpillar 86.47 +.57 | Fiat 32.23 +.02 | Kubota. 43.23 -.84 | PG&ECp 44.83 «= -.18 | ThermoFis 53.73 -.20 , | Seoul Composite 1949.51 . -13.42 -0.68% & A A +35,91%
AmBev 75,13 +.79 Celanese 41.29 = -.63 FidNinfo 56.70 -.97 Kyocera 109.73. +1.50 PNC 73.87 +.34 Thomson 44.15 +.20 Singapore Straits Times 3651.05 -2.18 -0.06% A&A A A +22.28%
Amazon 73.79 +10 | Celgene “5860 +.28°| FifthThird 40.65 +.15° | L-3Com™ 100.52° +.65 | POSCO ~~ 14878 +.78 | 3MCo 91.08 +21 | Sydney All Ordinaries 6418.20 -0.20 % , & & & +13-71%
Re a te ca AS oS men _pFirstData,S 32520502003... L@Philips 23.22 ....-.02,.],PPG.....80.59 +188 | Tiffany 55.76 46 | Taipei Taiex 9509.73 492.41 40.98% A A | A +421.55%
A to 1 L30" F713" | “FstSolarn” 10940. 72.65 | LSI Corp 8.25 <+.49°. | PPL Corp lL. © -43°| TWCablen 4045. #43 | cp cn nchaip . 27449. 4481. +178%). A were
Ameren 50.51. +.47 | ChesEng 35.87 +.07 | FTSpcfnn 1963 -.13_| LabCp 81.18 06 | Paccars 9456 +41 | TimeWarn 2112 +19 ale Ll dlls eee ee Te : patie
AtMoville > 64:42-° "45° -|---Chevron=—--94:10->-~1.02 - |-FirstEngy 65.53 -.41 |“ LafargeSA: 45.64. -.52 | ParkHan. 10587 +.93. | Trchmrk~ 67.14 -.66
AMovilA 64.45 -.55 | Chinalfes 59.19 4113 "| Fiserv.” ». 57.02 +22 | LamRsch 59.98 +553 | Paychex 43.91. 03 | TorDBkg 69.89 +14 d
AmCapStr 45.28 = -:52 ChinaMble 58.49 +.40 Flextrn 11.39 9 -+.12 LVSands 82.65 +1.35 PeabdyE 46.83 -1.23 Total SA 84.33 -1.00 ;
AEP 45.86 +57 ChinaNet . 54.74 = -.34 Fluor) =. 119.73 -.01 LeapWirels 95.71 +.55 | Pearson 17.07 +.09 | Toyota 123.97 -1.87 Largest Mutua Fun ° .
AmExp 64.74 42.86 | ChinaPet 110.95 199 | FEMSAs 38.30 °-1.23 | LeggMason 101.78 +.72 | PennWstg 3408 ~-.06 -| TrCdag 3619 +.62 12-M0 12-M0 12-0
AmintGp if 69.66 -.13 ChinaTel 59.33 -.66 FordM 8.73 -.13 LehmanBr 73.06 = +.26 Penney 74.48 +.16 Transocn 105.92 -1.17 | NAME NAV CHG %RTN | NAME NAV CHG %RTN | NAME NAV CHG SRTN
AmStand 63.34. +214 | ChinaUni 17.84 +.30 || ForestLab 45.46 -1.17 | LeucNatl 39.17 +19 | PepsiBott 35.68 -55 | Travelers 5300 -.41 2
AmTower 43.76.27. | Chubb 52.72 -43 | FortuneBr 8278 -.19 | Level3 6.12 04 | Pepsico 66.40 -.59 | Tribune 29.73 +08 | AIM Fidelity DivrEqinA m 14.71 -.02 +31.4
Ameriprise 66.35 +86 | ChungTel 1930 +13 | FosterWh 117.59 -1.20 | LibGlobA 44.65 +.56 | Petrocg 57.10 -27 | Turkcell 17-71 +32 | ConstellA m 28.78 044283 | 500IndxAd 10746 01 427.8) Schwab
AmeriBro 50.24 «+45 |: CinnFin 43.70 = -.21 | FranceTel 2836 -.12 | LibGlobB 44.81 +.21 | PetChina 15649 -.02 | Tycoklecn 38.86 -.44 paeae cae on Gass UsEqindx! Bee aarg| YidPlssel. 9.66. 456
Amgen 55.59 -.44 | Cintas 40.55 +12 | FrankRes, 143.95 +3.23 LibGlobC 42.49 +.12 PetrbrsAS 60.17 +.76 | TycolntlIn 49.76 -.67 A i. Funds oy ih First Eagle : nu"! Selected
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BHP BilILt 66.31 -.45 Corning 26.81 -11 Graingr 95.40: +1.07 Masco 28.37 0 +.35 QwestCm 952 +.01 Volvo s 22.13 -.52 Columbia Contrarian 20.18 +.01 +47.9 reir 31.12 4 +265
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BP PLC 73.93 -01 | ‘CoventryH 59.71 +.17 |°GpTelevisa 28.50 +.47 | Mattel 26.46 -74 | ReedElsplc 53.68 -1.15 | WPPGp 75.66 -.62 | EmgMktVal 43.57 +.09+81.7 | MidCapVal 26.88... +29.1 Fire x 487 ny HB
BT Grp 68.55 +35 | Covidienn 44.00 -30 | HDFCBk 92.26 -38 | Maximhlf 35.00 +14 | RegionsFn 33.57 -.64 | Wachovia 52.36 intiSmCap 24.59 -.06 +45,3 | Overseas 55.55 +.10 +60.3 ae Berar vere
BakrHu 80.90 -.98 | CredSuiss 73.76 ~ -.12 | HSBC 93.62 +31 | McDermint 9156 -18 | ReliantEn 29.72.09 | WalMart 48.35.59 | IntlValu 26.59 -.09+47.8 | Twenty S410 048 +341) RPT Ot
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BKNYMel 46.72 +.86 | Delhaize 101.44 -1.53 Hershey 50.16 = -.39 MetroPCSn 40.33 +1.97 RogCmgs 4888 +1.49 | Weyerh 82.76 +1.26 Income 12.40 -.02 +6.0 | Longleaf InstTStPl «33.78. +284
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Barclay 59.74 +50 | DeutschBk 147.53 -1.10 | Hess 65.69 -.02 | Microchp 38.45 +.39 | Rostele 59.89 +64 | WhtMtIns 575.20 -9.70 | Stock 165.88 +.05 +26.8 | Loomis Sayles int!Val 4686 -14 +406
Bard 82.69 -75 | DeutTel 1863 -.07 | Hewlett? 47.51 +.07 | MicronT 13.85 -13-| RoyalBkg 55.49 +30 | WmsCos 33.25 12 | Excelsior Bond! 1453 034124) on 131 cal 316s
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ae he
THE TRIBUNE

WEDNESDAY, JULY 18, 2007, PAGE 5B



Fisheries exports
decline in 2006

@ By NEIL HARTNELL

Tribune Business Editor

ahamian fisheries

exports saw their

combined value

and volume decline

slightly in 2006, with crawfish

and conch exports dropping in

value by 1.5 per cent and 19.7
per cent respectively.

The Central Bank of the

’ Bahamas report on the 2007

first quarter said initial data

for 2006 found that the total

volume of Bahamian fisheries

exports declined slightly last

year, falling by 2.5 per cent to

POLICY, from 1

dentally all of the prior rulings
pertaining to this subject, that

there is still no common under- *

standing of the practice of the
bond, and that as the ruling
states there is no provision
anywhere in any Act that pro-
vides for the over-the-counter
bonded sales of merchandise.

_ We operate in a void, a void

_ that has evolved over time.”

Mr Lowe further told The
Tribune on the over-the-
counter bonded good sales
practice: “There is no mention
of it in any legislation docu-
ment, and it is a situation that
has evolved out of thin air.
This has been an ad-hoc adap-
tation. There is nothing to sup-
port it, there is nothing to pre-
vent it.

“The rulings that have been
set down with respect to
Freeport, the Hawksbill Creek
Agreement and the licensees
address specific situations, but
the courts do not set policy. |

“Policy, has, never been set,
properly, ¥ with respect to the,

5.9 million pounds.

In terms of value, total
Bahamian fisheries exports
also fell slightly, dropping 0.3
per cent to $96.5 million.

Crawfish

Crawfish or lobster exports,
which accounted for 88.1 per
cent of Bahamian fisheries
exports by volume in 2006, and
95.6 per cent of their total val-
ue, fell slightly by 1.5 per cent
to $92.2 million.

Conch exports also dropped,
falling by.19.7 per cent to . 6
million.

Hawksbill Creek Agreement
by Nassau, the Port Authority,
and with the involvement of
the licensees.”

Mr Lowe said the Home

Centre’s attorney, Gregory.

Moss, had based his argument
that all goods stacked in the
Home Centre above seven to

. eight feet in height could be

bonded - because they were
out of reach of the general

. public - as if this was standard

practice.

Yet Mr Lowe said this was
not the case, but instead was a
practice that Customs accepted
at one licensee, with another
adopting a similar practice
after that, namely Bellevue Ltd
and Bahamas Copier.

Mr.Lowe told The Tribune
that. the bonded goods situa-
tion was “part of the larger pic-
ture of issues within” the
Grand Bahama Port Author-
ityand Freeport business com-
munity.

“It’s all part and parcel of
the same problem that ties in
with the Port Authority situa-
tion,’ Mr Lowe said, adding

that, despite, all the investment .
incentives and fige- trade zone

For the 2006 fourth quarter, .

which was the three months to
December 31, 2006, the
Department of Fisheries indi-
cated that improved average
prices boosted the total value
of fisheries exports by 14.7 per
cent to $42.2 million, although
volumes fell by 2.2 per cent to
2.3 million pounds.

Crawfish exports, which
accounted for 97 per cent of
total volume and 98.4 per cent
of total value, increased by 15.5
per cent to $41.6 million.

This was driven by a 13.6 per
cent increase in the average
price per pound to $18.55.

status, Freeport “hasn’t
worked” or fulfilled its poten-
tial during its first 50-plus
years.

He added that Kelly’s
(Freeport) would “watch and
wait” to see how the ruling
allowing the Home Centre to
now bring in inventory bonded
would work, hinting that
“when they bring in fully bond-
ed inventory across the board”,
his business would look to fol-
low suit.

“While this ruling is gener-
ally good for business in
Freeport, it is better for some
than others,” Mr Lowe wrote.

“If some licensees who have
funds tied into prepaid duty on
inventory wish to attempt to
recoup their funds, it is within
their right to do so, as one
must admit it would be harder
to sell at duty paid prices than
at bonded if there is going to
be a wider availability of bond-
ed goods, for company use of
course.”

Mr Lowe added that the rul-
ing had also noted the “de fac-
to practice of post paying duty
on the, 15th of each month, or

Within, 30 days ofsale”. ars

mare

[b+

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and global factors impacting our client base.
Superior ability to interpret complex corporate client needs and to
assemble innovative value-adding solution that achieve Client objectives.

General Responsibilities (not all inclusive): _

e Deliver planned targets by aggressively growing the book of profitable
business and increase the relative contribution of the Corporate Banking
to overall business profitability.
Enhance and strengthen the reputation of FirstCaribbean International
Bank and the Corporate Division in markets by developing and
maintaining an external network of key stakeholders, prospects,
community involvement, and playing a key role in the business
community at large.
Effectively lead and mentor the team of business development and
relationship managers who originate and provide business solutions
to clients in the corporate and commercial markets in the Bahamas

OPCO.

Remuneration:

e Salary commensurate with management position at the FC Level 11
(Note: 1 - 11 job levels)

e Benefits- attractive salary, six weeks vacation, preferred loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefits.

Applicants are requested to submit their resume with a cover letter
via email by July 23rd , 2007 to:
Deangelia.deleveaux @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will be contacted.





member of the QNB Group

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

CREDIT RELATIONSHIP MANAGER

Duties include:

Providing a high level of service and financial advice to new and existing
clients including liaising with customers and professional intermediaries
with regards to credit facilities.

Managing the bank credit exposures to ensure no risk.

Providing management information on the client base for monthly credit
meeting.

Enhancing the experience of existing clients by providing accessibility and
person-to-person advice.

Implementing the bank’s strategy together with the ability to satisfactorily
service high net worth clients/intermediaries.

The successful candidate must have the following qualifications and experience:

SENIOR asi ETT

ACIB or ABIFS diploma or degree in Banking or a related business field

Seven or more years banking experience of which at least four years should
be in credit administration

Previous experience in portfolio and liability administration
Strong leadership and decision making skills
Problem solving and coaching skills
Ability to manage multiple priorities
Ability to make sound credit analysis
Strategic awareness within the private banking industry
Spanish speaking skills would be an asset
Excellent salary & benefits
Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524

Email: hrmanager @ansbacher.bs

Deadline for all applications by hand, fax or email is July 20th, 2007

= ) FIDELITY
invites applications for the position of
Senior Internal Auditor

SUMMARY:

In this highly visible position you will be part of a small team
performing audits on the banking, insurance and securities principles
and practices of the Fidelity Group of Companies.



RESPONSIBILITIES:

e Conducting meetings and interviews with all levels of
management and personnel.

Performance of thorough studies of business processes fol areas
under audit

Developing specific audit procedures to accomplish the objectives
of the audit to determine whether assets are adequately safe
guarded and whether policies, plans, and procedures are complied
with and whether management reports are accurate
Performance of specific audit tests and thoroughly documenting
work performed in the audit working papers

Drawing conclusions based on the results of tests performed
Arriving at feasible cost effective solutions to problems
encountered and making specific recommendations

Organizing the audit working papers in a manner conducive to
developing a report on audit results, findings, and
recommendations

Holding preliminary discussions of the audit findings and results
with operating personnel to verify facts and to ensure that every
‘one has a thorough understanding of the nature, source and
extent of the issue. Also, input and action plans of operating
personnel are obtained

Preparing reports detailing the audit results, findings, and
recommendations

QUALIFICATIONS:

To be successful in this role you will have a Bachelors degree in
accounting or a Bachelors degree in finance or business administra-
tion with advanced knowledge of accounting principles. You will
have at least 2-5 years of auditing experience and have a good
working knowledge of Microsoft Excel and Word. You will also have
strong written skills, the ability to understand and analyze opera-
tional functions, excellent problem solving skills and excellent inter-
personal and communications skills.



The Senior Internal Auditor is expected to work towards or have a professional designation
such as CPA or CIA and should be willing and able to travel about 10-15% of the year.

The Senior Internal Auditor reports directly to the Group Internal Auditor. A competitive
compensation package is offered and will include salary, benefits and bonuses.

Send resumes no later than 20th July 2007 to:

Group Internal Auditor
Jin

51 Frederick Street
P.O. Box N-4853

Nassau
Fax 328.1180


PAGE 6B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE





LEGAL NOTICE

NOTICE

FERTLINC.

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act,
2000, the dissolution of FERTL 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 was March 20th, 2007.

Anthony B. Dupuch
Liquidator

EMPLOYMENT
OPPORTUNITY

Computer Company Seeks Person to fill the position of
Computer/Network Technician.

Applicants should possess the following:-

¢ Be knowledgeable in PC Hardware and Software Repair

e Have knowledge of Troubleshooting and repairing
computer networks
Have Good Organization Skills ;
Be task & goal oriented and be able to work with minimal
supervision
Must Be Punctual

Previous experience in computer service/repair is a plus.
Interested applicants should send resumes

and other information to
techjob co

WANTED

Leading Law Firm LS Legal Gla

|Candidates ‘must have. experience in

Jone or more of the following areas:
J Conveyancing litigation, mortgages. and
general matters; be- highly proficient..in.
IMS Word & Windows; type 70+ wpm; be
j comfortable and polished with high-level
Iclients; have excellent organizational and
[follow-up _ skills.. Salary commensurate
|with experience. Please send resume and
| salary expectations to: cpfplan@yahoo. com,

lor send fax to: 323-0012

Bahamas Bus & Truck Co., Ltd

Montrose Avenue
Phone:322-1722 ¢ Fax: 326-7452

322-1722

“9 S2wk-Hi - Highest closing price in last 52 weeks

CLICO (Bahamas)

net income drops

NOTICE

NOTICE is hereby given that ANESCHKA LORRAINE
GARLAND of #145 REDWOOD LANE, P.O. BOX F-43796,
FREEPORT, GRAND BAHAMA, BAHAMAS is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 18th day of July, 2007 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



NOTICE

NOTICE is hereby given. that JAMAL MISSICK of
HOLMES 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 11th day
of July, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

LEGAL NOTICE

NOTICE
KALSCI BAHAMAS INC.

NOTICE IS HEREBY GIVEN as follows:

(a) KALSCI BAHAMAS INC. is in dissolution under the provisions
of the International Business Companies Act 2000.
The dissolution of the said Company commenced on the 17th
July 2007 when its Articles of Dissolution were submitted to and
registered by the Registrar General.
The Liquidator of the said Company is Mr Lynden Maycock of
Ocean Centre, Montagu Foreshore, East Bay Street, Nassau,
Bahamas, as sole Liquidator:
Dated the 17th day of July 2007.

H&J Corperti Services Ltd.

Registered Agent



LEGAL NOTICE.

NOTICE
KALSCI BAHAMAS INC.

(In Voluntary Liquidation)

. Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East
Bay Street, PO. Box N-3247, Nassau, Bahamas as sole
Liquidator on or before the 31st day of July, 2007. In
default thereof they will be excluded from the benefit of
any distribution made by the Liquidator.

Dated the 17th day of July 2007.

LYNDEN MAYCOCK
Liquidator

Pricing Information Ag Of: :
Tuesday, 17 July 200 7

Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark

. Bahamas Waste | oe .
Fidelity Bank ~ .
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Pre

Bahamas Supermarkets
Caribbean Crossings (Pref)

ABDAB
Bahamas Supermarkets
RND Holdings

1.346656"
3.2920°**
2.739935**
1.257576

Colina Money Market Fund
Fidelity Bahamas G & I Fund
Colina MSI Preferred Fund
Colina Bond Fund

sii
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 MARKET TERMS
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 earnings

driven A. M. Best’s rating deci-
sion.

“Offsetting these rating
strengths is CLICO Bahamas’
lower standalone net-income’





“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
- 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 4
FINDEX - The Fidelity Bahamas Stock index. January 1, 1964=100

Weekly Vol.

FROM page 1

stitute its largest asset class.”

But the rating agency added: ;

Bahamian subsidiary.



in 2006 and its high exposure! “
to affiliated loans, which con

In addition, A. M. Best cited
as “a barrier to transparency”
the fact that it had not received"!
CL Financial Ltd’s audited
2006 financial statements at the
time it-assessed and rated its

CLICO (Bahamas), previr

Best in 2005.

INSIGHT

For the stories
behind the news, |
read Insight —
on Mondays |

of business,

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, MICHELLE AMBER |

LIGHTBOURN of High Vista, in the Eastern District of the Island
of New Providence one of the Islands in the Commonwealth
of The Bahamas intend to change my ‘name to MICHELLE
AMBER KNOWLES. If there are any objections to this change.
of name by Deed Poll, you may write such objections to the Chief >

Passport Officer, RO. Box N-742, Nassau, Bahamas no later than -

thirty (80) days after the date of publication of this notice.

PUBLIC NOTICE .
INTENT TO CHANGE NAME BY DEED POLL.

The Public is hereby advised that |; LOUIS JOSEPH of -
Carmichael Road; PO. BOX N- 3739, Nassau, Bahamas

name name by ‘Deed’ Poll, you. may: write ‘such abjactions”
to. the. Chief. Passport. Officer, P.O.Box N-742, Nassau,”
Bahamas: no, later-than: ‘thirty (30). ays: alter t the date of,
publication ‘of this. notice... ;

Notice |

Pursuant to the provisions of Section 235. of the
Companies Act, 1992, as Amended, Nouee) is
hereby given that:- Sit eae aerate

CHUB CAY TOWING LTD. fi Voluntary Liquidation)
is in dissolution. ;

. Proceedings to wind-ip and dissolve the Company were
. commenced on the 27th day of June A. D, 2007.

; Mrs. Debi Williams Hancock whose aildress i is
Katherina Court, Suites 203 & 205, Lagoon Court
Building, Olde’ Towne at Sandyport; Nassau, Bahamas is

‘the Liquidator of the Pamnpany for the purpore of such
dissolution.



=a) DELITY

Ssh %

* - 6 July 2007

** - 30 June 2007
*** - 31 May 2007

«*e* = 30 June 2007




. ously known as British Fidelity,
had received a B+ financial :
2 strength tating from A. M:

. At that time, the rating"
‘agency expressed concerns '*
about the challenges the com-*
pany faced in growing its busi-
ness when challenged by com? ;
petition posed by the likes of*,
. Colinalmperial Insurance,
- Company; its high expense |
_ Structure; real estate exposure’
|. ‘in Florida and the Bahamas;,
and geographic concentration -










= oe ee

se 6 e Se SRS

Aer em Fx
THE TRIBUNE »

ree WEDNESDAY, JULY 18, 2007, PAGE 7B



BUSINESS



Royal Bank: small business

Ke? 3s

emp

By CARA BRENNEN-
‘BETHEL
Tribune Business
Reporter

he Royal Bank of
Canada yesterday
launched its Small

: Business Unit to
assist what it sees as a vital eco-
nomic sector, with at least half
the. Bahamian workforce
employed by such companies.

“Small businesses have a
major economic impact on the
Bahamas, said Nathaniel Bene-
by, Royal Bank of Canada’s
vice-president and country head
for the Bahamas.

“Right now, experts say that
at least half our workforce is
employed by small business,
and according to the Bahamas
Chamber of Commerce, 75 per
cent of its 400 members are
small business owners.

“These entrepreneurs face
unique challenges, and Royal
Bank has committed to provid-
ing educational and financial
resources to increase their suc-
cess rate and grow our econo-

«Mr Beneby said small busi-
nesses were a growing econom-
ic sector, evidenced by the fact
that the number of business
litences issued annually has
more than doubled over the
past several years_to their cur-
rent level of about 12,000.

“And there are many more

unlicensed micro businesses that «’

generate considerable econom-
ic:activity at lower income lev-
efs,” he said.

.“In fact, experts say that at
least half our workforce is
employed by small businesses.
And the cry has always been
far banks to do more to help
them by taking measured risks,
and by demonstrating a more.

said Mr Beneby.

ing small business financing,
deposit products for business,
credit/debit cards, merchant ser-
vices, payroll processing and
online Internet banking. This is
coupled with support and
advice from trained account
managers, aiming to provide a
solid resource for small busi-
ness in the Bahamas.

The Small Business Unit
manager is David Barr, an
experienced banker with over
25 years at Royal Bank. The
unit is part of the Commercial
Markets Group, headed by
George Roache, vice-president
of commercial markets. |

Mr Beneby said Royal Bank
defines a small business as an
enterprise with a credit facility
up to $500,000, and sales up to
$5 million.

| Statistics

With statistics suggesting that
half of all small businesses last

less than three years, Mr Bene- :

by said commercial banks must
continue to lend responsibly
while supporting all sectors of
oureconomy. —

He added that many small
businesses single out an inabili-

ty to access capital as their most .

frustrating obstacle.
“Others have opined that
commercial banks’ lending risk

-is essentially cash flow-based,

and that these types of busi-

" nésses need risk capital, or ven-
ture capital funding. I submit

that funding is only.a part of
the formula to establish and

‘maintain a viable small busi-

ness,” Mr Beneby said.

He added that the Bahamas
Development Bank was created
for the:sole purpose of sup-
porting and funding small to
medium-sized companies, offer-

‘ing easier and more flexible .
active interest in'théir-future,”) «credit terms compared to ‘the :

commercial banks.

‘Royal Bank’s SmuaifBusiness™*”"But; to-date;-more ci 50

‘ initiative will offer a full range
ofproducts and services, includ- |

r
®

BS/
: yf

Tae SGD e 5S ew.

per cent of the Bahamas Devel-
opment Bank’s loan portfolio

' is presently accepting applications for

: PRIVATE BANKING - HEAD EUROPEAN ASSET MANAGERS

a

was delinquent, and loan write-
offs totalled in the millions of
dollars, Mr Beneby said.

He added that the main rea-
sons for small business failures

. were a lack of proper planning,

non-existent management
expertise, undercapitalisation,
lack of proper financial advice
and financial reporting, and
absentee management.

“Clearly, these factors are
equally as important as fund-
ing, and they cannot be over-
looked, or underestimated, by
new and existing small business
entrepreneurs,” Mr Beneby
said,

Larry Cartwright, minister of
agriculture and marine
resources, with the added port-
folio of small business develop-
ment, said his ministry’s budget
has been increased, indicating
the Government’s interest and
recognition of these three sec-
tors.

As a Family Island MP, Mr
Cartwright stressed the impor-
tant role small business plays in
the development of those
economies.

However, Mr Cartwright not-
ed that to be successful on the
Family Islands, residents must
have the same basic amenities
as in the large cities, such as
electricity, telecommunications,
airports docks, roads and foods.

Mr Cartwright said the worth

of the farming and fishing sec- .

tors to the Bahamas’ growth
and development, and to its
Gross Domestic Product
(GDP), had always been under-
estimated.

He said that when you con-
sider and quanitfy these sectors’

linkages to others, such as -

tourism, transporation, ship-
ping, and seafood processing,
their contribution would be
higher than predicted.

Mr Cartwright said that given’. ©
’ the scarity of land on New Prov-*:

idence, the Family Islands must
be seen as a vital part in the
Bahamas development.

BSI OVERSEAS (BAHAMAS) LIMITED

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
, international private bank, with its headquarters in Lugano, Switzerland,

: Applicants for the position of Head European External Asset Managers

within the Private Banking Unit must have Banking or Financial education
_ and at least 10 years experience in the offshore banking sector, well versed
» in managing relationships with Professional Asset Managers, fluent in
. Italian and English, good knowledge of French, ability to manage projects,
~ perform reviews to minimize risks, efficiency oriented, lead small team of
Private Banking Relationship Officers, maintain relationships with other
: units and third parties and have knowledge of local legislation, regulatory

4
q

i Personal qualities :

©

_& statutory matters as well as international banking practices.

- Goal-oriented, self-motivated, positive attitude and outlook

resources

aa 2 epee gaeerwx = :
we ls Gece

* Responsibilities :

- Manage team

S2@¢8 «

professionals

weer

- Strong in problem solving, investigative
- Customer service oriented
- Must be able to work'under pressure
- Commitment to quality and service excellence
- Commitment to continuous training and improvement of allocated

- — Organisational skills :
- Flexibility in office hours and hands-on approach when necessary

- Review relationships with counterparts
- _ Develop allocated client segment

- Direct involvement with External Asset Managers’ clients

- Foster and maintain communication with internal/external banking

- Meet deadlines on timely basis

f : Interested persons with such qualifications should submit their
' resume/curriculum vitae to:-

é Human Resources Manager
t BSI Overseas (Bahamas) Limited
, Bayside Executive Park, W. Bay St. & Blake Road

» P. O. Box N-7130
Nassau, Bahamas

P Fax no. (242) 702 1253 or email: julie.benjamin@bsiob.com

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.

>

loys 50% of workforce

Vacancy for Chief Financial Officer



Re esponsibilities:

¢



Full responsibilities for all accounting activities including G/
L, A/P, A/R, Payroll & Purchasing
Cash flow management, financial reporting, forecasting and
budgets.
Manage relationship with current lender and fulfill monthly
‘reporting requirements
Manage year end audit and act as liaison to external CPAs
Manage annual budget process; work with senior manage-
ment to optimize budgets and financial forecasts
Directly supervising accounting staff of 10
‘Overseeing the day-to-day: operation. of the company
ualifications:
Eight to ten years of experience in financial management
with increasing responsibilities for multi-faceted direction
vand planning ;
Bachelors degree in Accounting or Finance minimum
BER a Gestenatinn a



matters

Experience in, setting up. financial controls; effective at estab-
lishing and i improving processes

‘Strong communication, analytical and management skills
Enthusiastic, positive, “can do” entrepreneurial spirit.

Interested persons should apply in writing to
‘Chief Financial Officer
P. Q Box N-SS51, Nass F Baharnas



ANSBACHER

member of the ONB Group

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

SENIOR CLIENT ACCOUNTANT

To accurately and promptly prepare periodic financial statements for
a case load of Trust-and Companies. Maintain the accounting records
in accordance with International Financial Reporting Standards.

The successful candidate must have the Jollowins eel cations
and experience:

¢ CPA certification with at least 2 years post qualification experience

e Previous client accounting experience would be preferred but is
not mandatory.

¢ As a Senior Client Accountant you will be expected to be self
motivated, have the ability work independently and have good
written and verbal communication skills

© An in-depth knowledge of Trust Accounting and experience with
complex fiduciary structures would be an asset.

0 Computer literate with high proficiency in Microsoft Office
Applications (Word, Excel, Outlook)

Salary commensurate with experience and ability
Excellent salary & benefits

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

Deadline for all applications by hand, fax or email is
July 20th, 2007


PAGE 8B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE



PORT, from 1

process where Mr St George
was purchasing shares from Sir
Jack to bring his equity holding
in IDC up to 50 per centby
assigning all dividends and

share sale proceeds to his part-
ner.

Once Sir Jack received the
required amount, he was to
transfer 212,623 shares to Mr
St George to allow him to
reach that 50 per cent thresh-

old.

However, in his defence and
counterclaim, Sir Jack alleged
that there was no writtent
agreement between Mr St
George and himself on how
IDC and its subsidiaries were

INTER-AMERICAN DEVELOPMENT BANK

Pre-selection of General Contractors for Construction
For the Retrofitting of a portion of its existing facilities at the IDB House

In Nassau, Bahamas

The Inter-American Development Bank, a multilateral financing institution
headquartered at 1300 New York Avenue, N.W., Washington DC 20577,through its
Country Office in The Bahamas located at IDB House, East Bay Street in Nassau,
invites general contractors operating in The Bahamas to submit relevant pre-
qualification documents for the modification of a section of its office. To this end,
the following information could be picked up at the IDB House, East Bay St.:

to be run, only an oral one.
He also claimed that Mr St
George’s compensation for
running IDC full-time was to
be 50 per cent of the income
generated by the company, and
“in particular there was no

agreement that the deceased

should become entitled to 50
per cent of the capital of IDC”.

In reference to the March
11, 1982, letter, Sir Jack alleged
that he “has no recollection
whatsoever” of the document
or its signing.

He “does not accept that he
did sign the said document,
and hence does not accept the
authenticity of the signature

‘purporting to be his, and
apparently appearing on the

copy of the document”.

Sir Jack alleged that had he
“seen and understood the con-
tents” of the letter he “cer-
tainly would not have signed
it”.

Denying that the document

had ever been signed, Sir Jack
alleged that even if he did sign
it, he was “unaware of its
nature or any of its terms”, and
that it attempted to record and
agreement with Mr St George.
He added that there was no
attempt to increase his former
business partner’s IDC share-
holding from 16 per cent to 50
per cent.

Alleged

Sir Jack further alleged that
he signed the letter “having
been induced and informed”
that it was a routine document
that did not require reading by
someone acting on Mr St
George’s behalf.

However, Sir Jack did admit
to the existence of another
document relied upon by the
St George estate. This one,
dated January 6, 2005, showed
that he and Lady Henrietta St
George signed a declaration

Invitation Letter _

Instruction for Presentation of Documents for Pre-Selection of Contractors
Pre-qualification Statement Form

Model for Certification of Insurability

The information submitted by the General Contractors in the Pre-qualification
Statement Form and complementary documents will be evaluated according to the
following indicators:
¢ Company profile, evidencing to have the knowledge, staff and organization
commensurate with the type and scope of the Work
Works completed in recent years that are similar to the one proposed by the
Bank, as demonstrated by references of the owners or previous experience
with the Bank.
Physical capacity to carry out the job as demonstrated by the current work .
load
Financial conditions, and,
To have implemented in documented form a Quality Control System

The Pre-qualification Statement and absonipanvine documents should be submitted
in (2) two copies, in a sealed enyelone, not later than July 264, 2007 at 3:00 PM
addressed to:

INTER-AMERICAN DEVELOPMENT BANK
Attention: The Administrative Officer
~ IDB House, East Bay Street
Nassau, Bahamas

BSi

BSI OVERSEAS (BAHAMAS) LIMITED |

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international private bank, with its headquarters in Bugan®, Switzerland,
is presently accepting applications for

PRIVATE BANKING RELATIONSHIP OFFICER

Applicants for the position of Private Banking Relationship Officer must
have Banking or Financial education and experience in the offshore banking
sector, fluency in Italian, German and French, have strong background
in KYC matters, good knowledge of international financial instruments,

ability to partner with team members, project oriented, and have thorough

knowledge of local legislation, regulatory & statutory matters as well as
international banking practices.

Personal qualities :-

Excellent organizational, communication and computer skills
Goal-oriented, self-motivated, positive attitude and outlook

Project oriented

Commitment to quality and service excellence

Able to work with minimal supervision

Commitment to continuous training and improvement of colleagues
Flexibility in office hours and hands-on approach when necessary

Responsibilities :-

Ensure KYC guidelines are applied on a day to day basis within Private
Banking unit

Organize, implement and monitor KYC and Client Relationship
Management related projects within the Private Banking Unit
Training of Private Banking allocated resources

Liaise directly with customers or their investment advisors or agents
Foster and maintain communication with internal/external pang
professionals

Meet deadlines on timely basis

Interested persons with such qualifications should submit their
resume/curriculum vitae to :

Human Resources Manager

BSI Overseas (Bahamas) Limited

Bayside Executive Park, W. Bay St. & Blake Road

P. O. Box N-7130

Nassau, Bahamas

Fax no. (242) 702 1253 or email: julie. heivaniin@belob: com

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.





NOTICE
_ FIAL IZ FUND LTD.
(FORMERLY FLETCHER SUNRISE I FUND LTD.)

_ In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, commencing on the 20" day of June,
2007. Articles of Dissolution have been duly registered
by the Registrar. The Joint Liquidators are Paul A.
Gomez and Patrick E. Smith, P.O. Box N-8285,
Nassau, The Bahamas.

All persons having Claims against the above-named
Company are required on or before the 3 day of
August, 2007 to send their names and addresses and

particulars of their debts or claims to the Joint —
Liquidators of the Company or, in default thereof,
they may be excluded from the benefit of any
distribution made before such debts are proved.

_ Dated this 12" day of July, 2007

PAUL A. GOMEZ and PATRICK E. SMITH
Joint Liquidators

that IDC’s shares were split
50/50 between himself and the
St George estate.

In addition, the declaration’. ’

purportedly shows that the St
George estate’s 50 per cent
stake was held for it by Fidu-
ciary Management Services
(FMS), the Cayman-domiciled
holding company, the issue at
the very heart of the dispute.

Sir Jack, though, said this
document was presented to
him by Ian Barry, the GBPA
and Port Group Ltd’s chief
financial officer, acting at the
St George estate’s request.

He alleged that Mr Barry
represented this as a routine
document that did not require
Sir Jack to read it, and said it
“was not and could not be any
declaration of trust” on FMS’s
behalf.

Sir Jack also denied the exis-
tence of a 50/50 partnership
between him and Mr St
George on all joint ventures,
especially when it came to sell-
ing stakes in assets held by the
Grand Bahama Development
Company (Devco) and Port
Group Ltd.

The St George estate had
alleged that when these stakes
were sold, the sales proceeds
were divided equally between |
the two.

Sir Jack denied that pro-
ceeds from the sale of affiliated .
companies were paid to Mr St
George, alleging that his busi-
ness partner “was paid what
amounted:to the dividends
which would otherwise have
been payable to IDC and on
to FMS”.

The asset sales involved:

* The 1993 sale by Devco of
a 50 per cent stake in Grand
Bahama Power Company to |
Southern Electric (now '.
Mirant), generating $35 mil- '.’
lion.

* The 1999 sale of a 50 per
cent stake in Devco to Hutchi-
son Development Bahamas,
netting a total dividend of $17
million.

* The 2000 sale of a 28.6 per
cent stake in Urban Sanitation
by Port Group Ltd to Onyx,
producing dividends of $9.428
million.

* The 2001 sale of a 50 per.
cent stake in the Freeport Con-
tainer Port by Port Group Ltd
to Hutchison Port Bahamas
Holdings, generating special
dividends of $18 million.

Vacancies for Prison Officers

Bahamas Prison Service

Ministry of National Security & Immigration |

Applications are invited from suitably qualied persons for enlistment as Prison
Officers into the Bahamas Prison Service, Ministry of National Security &

Immigration.

The applicant:

_ (a) Must be a citizen of the Commonwealth of The Bahamas;

(b) Must be between 18 and 36 years of age;

(c) Must receive a positive Vetting Report;

(d) Should have passes in at least five (5) BJC subjects including
English Language. In addition to the BJC subjects, a Trade Certificate
from Bahamas Technical & Vocational Institute (BT VI) or any other
recognized Trade School would be an asset, however, persons without
the minimum academic qualifications will be required to undergo an

entrance examination.

Successful applicants will be required to pass Medical/Physical Assessment
sprior to undergoing a period of training at the Bahamas Prison Staff Training

Centre.

All persons appointed will be required to work on a three-shift system as
follows:

Mornings :
Evenings -
Nights -

(06.00a.m. - 02.00p.m.);
(02.00p.m. - 10.00p.m.);
(10.00p.m. - 06.00a.m.);

and as such will be required to work these shifts on weekdays and
weekends as a condition of service . In this respect, candidates who are

unwilling or unable need not apply.

Applicants will initially be enlisted as Recruit Prison Officers, Scale PR10
and will receive a salary of $20,000 per annum. However upon satisfactory
completion of the required Training Programme, they will be promoted to
the rank of Prison Officer, Scale PR9( and will receive a salary in the range
of $20,600 x $600 - $30, 200. Entry point in the Scale will be determined by
qualifications.

Application forms may be obtained from the Main Gate at Her Majesty’s
Prisons, completed and returned along with the following documents to the
Human Resources Unit, Her Majesty’s Prisons, Nassau N.P. Bahamas,
no later than Monday, 23 J uly 2007.

9 Copy of Birth Certificate or Affidavit

Copy of the first five(5) pages of your Passport
4 Copies of all Academic Qualifications

> Police Record

4 2 Character References

> 2 Passport sized photographs

Superintendent of Prisons


ae

THE TRIBUNE

KPIVIG, KPMG Telephone 242 393 2007

PO Box N 123 Fax 242 393 1772

Montague Sterling Centre Internet www.kpmg.com.bs
East Bay Street

Nassau, Bahamas

INDEPENDENT AUDITORS’ REPORT
To the Shareholder of Julius Baer Trust Company (Bahamas) Limited

We have audited the accompanying balance sheet of Julius Baer Trust Company (Bahamas)
Limited (“the Trust”) as at December 31, 2006, and a summary of significant accounting policies
and other explanatory notes (together “the balance sheet”).

Management's Responsibility for the Financial Statements

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

Auditors’ Responsibility

Our responsibility is to express an opinion on this balance sheet based on our audit. We
conducted our audit in accordance with International Standards on Auditing. Those standards
require that we comply with relevant ethical requirements and plan and perform the audit to
obtain reasonable assurance whether the balance sheet is free of material misstatement.

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

We believe that the audit evidence we have obtained is sufficient and aperenrinte to provide a a

basis for our opinion.

Opinion ‘

In our opinion, the balance sheet presents fairly, in all material respects, the financial position of
- the Trust as at December 31, 2006 in accordance with IFRS.

Emphasis of Matter

Without qualifying our opinion we emphasize that the balance sheet does not comprise a
complete set cf financial : statements prepared in accordance with IFRS. Information on results of
operations, cash flows and changes in equity is necessary to obtain a complete understanding of
the financial position, performance and cash flows of the Trust.

hfoah

Chartered Accountants
Nassau, Bahamas

May 30, 2007

JULIUS BAER TRUST COMPANY (BAHAMAS) LIMITED |
Balance Sheet

December 31, 2006, with corresponding figures for 2005
(Expressed i in Swiss francs)







2006 ia: 2005
Assets
Demand deposits due from bank - group SFr 2,033,465 2,018,607
Fee income receivable | 17,377 -
Total Assets SFr 2,050,842 2,018,607

5 RS SE
Liabilities and Shareholder’s Equity |

Liabilities:

_Income received in advance SFr ae ° 5,767
Audit fees payable 14,648 “13,180
Total Liabilities _ 14,648: 18,947
Shareholder’s equity:

Share capital

Authorised, issued and fully paid - Pos

2,000,000 shares at par value of SFr1.00 each 2,000,000 2,000,000
Retained earnings/(accumulated deficit) 36,194 (340)
Total shareholder’s equity 2,036,194 1,999,660
Total Liabilities and Shareholder’s Equity SFr 2,050,842 2,018,607
Se LE GE LS a I SE TEE

See accompanying notes to financial statements.

Director

Director



Notes to Balance Sheet

December 31, 2006
(Expressed in Swiss francs)



1. Corporate information

Julius Baer Trust Company (Bahamas) Limited ("the Trust") was incorporated on July 19,
2000, and licensed to carry on trust business from within The Commonwealth oft The
Bahamas under the Banks and Trust Companies Regulation Act 2001. The Trust is a wholly-
owned subsidiary of Julius Baer Bank & Trust (Bahamas) Limited (“the Bank”) which is in
turn a wholly-owned subsidiary of Julius Baer & Cie S.A., a company incorporated in
Switzerland. The address of its registered office is Ocean Centre, East Bay Street, Nassau,

‘ Bahamas. The principal activities of the Trust consist of conducting trust and corporate
administration business.

WEDNESDAY, JULY 18, 2007, PAGE 98

2. Basis of preparation

Statement of compliance

This balance sheet is prepared in accordance with International Financial Reporting Standards
(IFRS).

Basis of measurement

This balance sheet has been prepared on the historical cost basis.

Functional and presentation currency

This balance sheet is presented in Swiss francs (SFr) which is the functional currency of the
Trust.

Use of estimates and judgements

The preparation of the balance sheet requires management to make judgements, estimates and
assumptions that affect the application of accounting policies and the reported amounts of
assets and liabilities. Actual results may differ from these estimates.

re and underlying assumptions are on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimate is revised and in any future
periods affected.

Summary of significant accounting policies

Tne accounting policies set out below have been applied consistently to all periods presented
in this balance sheet.

Financial instruments

Financial instruments comprise demand deposits due from bank — Gast: fee income
receivable, income received in advance and audit fees payable. Financial instruments are
recognized initially at fair value plus any directly attributable transaction costs. Subsequent
to initial recognition, financial instruments are measured at amortized cost using the effective
interest method, less, in the case of financial assets, any impairment losses.

A financial instrument is recognized if the Trust becomes a party to the contractual provisions
of the instrument. Financial assets are derécognized if the Trust’s contractual rights to the

_ cash flows from the financial assets expire or if the Trust transfers the financial asset to

another party without retaining control or substantially all risks and rewards of the asset.
Financial liabilities are derecognized if the Trust’s obligations specified in the contract expire
or are discharged or cancelled

Foreign currency translation

Monetary assets and liabilities in foreign currencies are translated into SFr using year-end
rates of exchange.

Impairment

*

A financial asset is considered to be impaired if objective evidence indicates that one or more
eyents have had a negative effect on the estimated cash flows of that asset. An impairment
loss in respect of a financial asset measured at amortized cost is calculated as the difference
between its carrying cost, and the present value of the estimated future cash flows discounted
at the original effective interest rate. An impairment loss is reversed if the reversal can be
related objectively to an event occurring after the impairment loss was recognized.

Related party balances and transactions

Related parties include affiliates of Julius Baer & Cie S.A., major ‘shareholders, directors 1s od
key management personnel who have the authority and responsibility for planning, directing
and controlling the activities of the Company. All balances with related parties, including
affiliated companies, are denoted in the financial statements as group.

Assets under management

No account is taken in these financial statements of assets and liabilities of clients
administered by the Trust as custodian, trustee or nominee. Total assets under administration
as at December 31, 2006 approximated SFr 1,192 million (2005 — SFr 1,113 million).

Financial instruments
Financial risk management objectives and policies
*%

The Trust’s financial instruments comprise deposits, receivables and other various items that
arise directly from its operations.

The principal risks arising from the Trust’s financial instruments are credit risk, liquidity risk,
interest rate risk and foreign currency risk. The Board of Directors reviews and agrees
policies for managing each of these risks and they are summarized below.

Credit risk

Credit risk is the risk that a customer or a counterparty will be unable or unwilling to meet a
commitment that it has entered into with the Trust. The Trust manages counterparty credit
risk centrally through the Bank to optimize the use of credit availability and to avoid
excessive risk concentration. Customer credit risk is managed through provisions against the
fee receivable balances. Credit risk is reduced as all demand deposits are due from the Bank.

The Trust’s maximum exposure to credit risk in the event the counterparties fail to perform
their obligations as at December 31, 2006 in relation to each class of recognized financial
assets, is the carrying amount of those assets as indicated in the balance sheet.

Liquidity risk
Liquidity risk is the risk that the Trust will encounter difficulty in realizing assets or
otherwise raising funds to meet commitments. The Trust monitors expected cash outflow ona
daily basis. Its policy throughout the year has been to ensure liquidity by maintaining at all
times sufficient high. quality liquid assets to cover expected net cash outflows.

Interest rate risk

Exposure to interest rate risk is the risk that arises when there is an imbalance between rate
and non rate-sensitive assets and liabilities. The Trust does not experience a great deal of risk
in this area as interest rates related to its financial assets automatically reset to market
periodically.

Foreign currency risk

Foreign currency risk is the risk that the value of a financial instrument will fluctuate because
of changes in foreign exchange rates. The Trust ensures that the net exposure to financial
assets and liabilities not denominated in Swiss Francs is kept to an acceptable level by buying
or selling foreign currencies at spot rates, where necessary, to address short-term imbalances.

Net fair value of financial instruments

Financial instruments utilized by the Trust include recorded assets and liabilities, as well as
items that principally involve off-balance sheet risk. The majority of the Trust’s financial
instruments are either short-term in natur2 or have interest rates that automatically reset to

. market on a periodic basis. Accordingly, the estimated fair value is not significantly different

from the carrying value for each major category of the Trust’s recorded assets and liabilities.
The Trust has no off-balance sheet financial instruments as of December 31, 2006 or
December 31, 2005.

5, Other‘information

On January 20, 2006, the former resident manager of the Bank, was arrested in New York
and charged by the Manhattan Federal Court for money laundering activities in connection
with the former resident manager’s position and activities in another company not belonging
to the Julius Baer Group.

The accounts of the former’ resident manager held with the aforementioned company aiid
those held with the Bank were frozen in accordance with the court order dated 2 May, 2006,
and will remain frozen until otherwise notified by court order. On March 14, 2007 after
offering a guilty plea, the former resident manager was sentenced to four years in prison and
ordered to forfeit $220,000 in proceeds.

No provision related to this’ matter has been recorded in this balance sheet.
”

PAGE 10B, WEDNESDAY, JULY 18, 2007

THE TRIBUNE.



Exuma rents
‘exorbitant’

@ By TANEKA THOMPSON

ental fees being

charged by Exuma

landlords are

“exorbitant”, a
government minister has
acknowledged, with many
island residents complaining
that the economic “boom” due
to the influx of luxury resorts
has significantly driven up the
cost of living.

An employee at the Grand
Isles Resort & Spa in Exuma
~ told The Tribune: “Since they
[investors] brought foreign
workers over here, prices have
been going up on everything.”

The employee explained to
The Tribune that while he was
making a decent salary, the sky
high cost of renting an apart-
ment eats away at his pay
cheque.

He explained that the rental
fee for a one-bedroom apart-
ment in the area near the hotel
where he works can range any-
where from $1,000 - $1,500 dol-
lars a month.

Another employee informed
The Tribune that prices on
breadbasket items were rapid-
ly rising as well.

Sidney Collie, minister of
lands and local government,
told The Tribune that he was

aware of the “exorbitant”-

rental fees in Exuma, but
added that under the Rent
Control Act the Government
has no jurisdiction over the
prices landlords charge.

“I enfpathise with the con
sumers there, but that is what

happens in [booming] towns. ~

Prices go up along with every-
thing else,” he said in an inter-
view on Tuesday.

“Unless [the apartments]
are between $20 and $50 a
week, very low rental units,
they are not governed by the

Rent Control Act. I am aware
that the cost of rental in Exu-
ma is exorbitant, and that is
because of the prosperity that
Exuma is experiencing, so the
landlords, the persons in
charge of property and prop-
erty development, obviously
are trying to get as much mon-
ey as they can get.”

Mr Collie added that it was
an issue of “supply and
demand”, and that landlords
would continue to hike prices
as long as the public was will-
ing to pay them.

“The merchant class is trying
to make as much money as
they can. We can’t price con-
trol everything. The law has
only certain breadbasket items
and fuels which are price con-
trolled. But the high cost of
fuel in Exuma reflects the high

cost of fuel everywhere,” Mr -

Collie said.

He maintained, however,
that his Ministry was not aware
of any breaches in Exuma
relating to the price controls
on breadbasket items or fuel.
He told The Tribune that there
was a consumer affairs repre-
sentative in Exuma who was
“constantly monitoring” the
situation.

Attempts were made by The
Tribune to contact Gary Rolle,
the consumer affairs officer in
Exuma, but as of press time he

could not be reached for com-
ment.

In an interview over the
weekend, the Exuma Cham-
ber of Commerce president,
Reginald Smith, said: “Well,
yes, the cost of living is going
to rise because the products
that we are putting in are high-
end products.”

He argued that businesses
have the perception that
because of the numerous lux-
ury developments on Exuma,
they can demand top dollar on
land prices, apartment units
and merchandise.

“In terms of food stuffs and
importations, there’s some
[price] controls. I think gov-
ernment can come and help us
out with this, but for the most
part we are going to have to

be our own best critic. We’re ~

going to have to get out there
and tell [merchants] ‘No we ‘re
not going to. pay that price.”
Mr Smith said

He added that Bahamians
needed to become more proac-
tive and stand up to overpric-
ing. Mr Smith predicted that
in time, the cost of living in
Exuma would stabilise, as sup-
pliers realisede that the pub-

lic was not able to keep up

with the high prices.

“T think as reality sets in, we
are going to see those prices
come down,” he added. .

LR eS eT
the #1 newspaper in circulation,
just call 322-1986 today!



Bahamas Agricultural & Industrial Corporation

in conjunction with the -

Ministry of Health & Social Development (MHSD) :

‘HANDICRAFT ‘STRAW’ TRAINING PROGRAM

Date: Monday, July 23 - Friday, August 3, 2007
Venue: Meeting Room, MHSD
Augusta & Meeting Streets, Nassau, Bahamas
Time: 6:00 p.m. - 10:00 p.m.
Application Form
Name:



Address:

Settlement:

Telephone:

P.O. Box

Cellular:

Email:

Admini trative Cost:

Contact Persons:

BOP PAEY SEPA FEE FI YEW 1M POETS EP Ea

Fax:

100.00

Ms. Sharae Collie/Mrs. Antoinette Bain = «

i

Tel: 322-3740-3 Fax: 322-2123/328-6542



“Meeting the needs of advertisers

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY
jSor
Wealth Management
Wealth Manager/Team Leader

Bahamas & TCI

We are continuing the expansion of our Wealth Management business and are now seeking to
recruit an outstanding professional to lead our team of international and domestic wealth
managers in Bahamas and TCI. The person we are seeking must have the gravitas and expertise
to drive the significant growth of AUM/AUA by developing investment relationships with
HNWIs, professional trustees and financial intermediaries.

Qualifications:

Internationally recognized Financial Planning or Investment qualification (e.g. FPC or
CFA).

Degree or professional qualification in Banking, Accounting, Law or Business.

A self- motivator and experienced team leader with a commitment to coaching and
mentoring.

Must have a passion for team and personal results and be able to demonstrate an
outstanding command of balancing sales and best advice to exceed targets.

-Fully up to date with the global Wealth Management product offering and an excellent
understanding of international and local competitive environments. '

Strong knowledge of insurance, taxation and asset protection, estate planning products
and services, and experience in tailoring innovative solutions for clients from various
jurisdictions.

Must be fully aware of latest KYC, AML and fraud prevention sequitements and
monitoring tools.

Possess a strong knowledge of global economic and political Sénditions and current
affairs.

General Requirements/Responsibilities:

Have a minimum of 5 years, and preferably 10 years, international investment management
sales or financial advisory experience, with supervisory experience in a regulated T&C
environment.

Client centric with strong presentation and negotiation skills; able to competently provide
expert investment advice and recommendations to HNWIs and professionals.
Can demonstrate a full understanding of the mathematical and statistical basis of portfolio
diversification and possess a thorough comprehension of the qualitative and quantitative
aspects of investment management including, Alpha, Beta and Total Return considerations
and analytical depth in respect of asset allocation and specific. stock picks.
Champion and implement Wealth management sales initiatives working closely with the
‘Director Wealth Management, Director Sales & Service and Marketing Department.
Achieve revenue, AUM/AUA and other targets; whilst managing costs within agreed
budget.

Experience in lending and cross selling other banking products is desirable.

Remuneration:

e Salary commensurate with level 9 out of 11 pay levels
¢ Benefits- comprehensive banking benefits, variable incentive pay (bonus) and preferred
loan rates ,

Applicants are requested to submit their resume with a cover letter via email by July 20th ,
2007 to: dennis.govan @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for. their interest,
however only those under consideration will be contacted.





and readers motivates me to do
a good job. The Tribune is
my newspaper.”

ESTHER BARRY

PRODUCTION MANAGER
THE TRIBUNE

The Tribune

My Loree. Why Vlewspapn!







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