N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER This law stinks! Volume: 107 No.259FRIDAY, OCTOBER 7, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUN AND SHOWER HIGH 87F LOW 78F By DANA SMITH S TRAW vendors are up in arms, claiming the govern ment has created the percept ion that they are fouls melling and poorly dressed. Responding to the pro posed regulations for the new S traw Market tabled in parliament on Wednesday, ven dors denied the negative i mage created by the stipula tions about dress, behaviour and body odour. Several offered to prove t heir good hygiene insisting that a reporter smell them. The new regulations d emand that vendors be wellgroomed, that their stalls be clean, and that they use prop-e r hygienic products to avoid h igh offensive body odour. Asked how she felt about this last point, one vendor s aid: I bathed this morning and spent all day out here and do I smell bad? Do I stink to you? Come, smell me. T he offer was soon repeated by several nearby vendors. A quick tour of the market a nd a hesitant sniff of some of the ladies revealed tidy stalls, well dressed vendors,a nd little to no unusual body odour. The vendors are outraged that the government wouldp resume to regulate them based on smell, cleanliness and grooming. They talk about us like we're dogs, like were not even human, another venStraw Market traders hit out at r egulations TRY OUR PINA COLADA McFLURRY The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM im lovin it TEARS FROM THE CLASSMATES OF MURDERED MARCO ARCHER CLASSMATESOF Columbus Primary School pupil Marco Archer, 11, who was found dead after going missing on September 23. His death h as prompted an outcry across the Bahamas, leading to calls for a register of sex offenders to be created and prompting Parliament to instigate a probe into how the police handled the investigation. Read the full story on page three. P hoto: Tim Clarke /Tribune Staff By TANEKA THOMPSON Deputy Chief Reporter email@example.com ELIZABETH MP Ryan Pin der commended Government for tabling a Freedom of Infor mation Bill in Parliament, but said the definitions of what will be exempt from public access must be clear. Although he said he had not read the 33-page document yet, Mr Pinder said any ambiguity in the powers of the Information Commissioner who will be appointed to oversee the disclosure of data could lead to By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org FREEPORT A veteran educator accused of misappropriation of some $70,000 in school board funds was for mally arraigned in the Freeport Magistrates Court on Thurs day. Aleda Elaine White, a teacher at the Jack Hayward High School, appeared in Court Three before Deputy Chief Magistrate Helen Jones at 2.30pm for her arraignment on some 26 counts of forgery and fraud charges. White, 55, is a Jamaican national with permanent resident status in the Bahamas. She has been teaching in the Bahamas for more than 20 years, and submitted her resignation to the Ministry of Education on Tuesday. White was supported by her children and a few colleagues in court. However, her attorney Carlson Shurland was not present and efforts were made to contact him. After waiting for several minutes, Magistrate Jones told White that she would have to proceed without her attorney. A relative, who had left the TWO men are recovering in hospital today after allegedly attempting to com mit suicide in two separate incidents. Police say around 1pm Wednesday, a 23-year-old of Vista Marina, the Grove, jumped from the western Paradise Island bridge. He was pulled out of the water by people in a nearby boat who saw him jump. The man suffered multiple broken bones and other injuries. He was taken to hospital, where he is listed in stable condition. Police remain tightlipped as to the young mans motive to end his life, however police sources say he was stressed out and could no longer cope. A few hours after that incident, at around 7pm, police By MEGAN REYNOLDS Tribune Staff Reporter email@example.com DREDGING around Bell Island must be monitored with urgency to limit the destruction it is causing in the Exuma Cays Land and Sea Park, Senator Jerome Fitzgerald said in a press conference yesterday. The PLP candidate for Marathon, the seat currently held by Environment Minister Earl Deveaux, cried shame on the FNM government for approving the development in the worlds oldest land and sea park. He also criticised the Bahamas National Trust (BNT for failing to prevent the development from going ahead. Dredging is now well under way, and Mr Fitzgerald said 13 acres, or 600,000 sq ft, of sea bed have been excavated from Conch Cut south of Bell Island, to make way for the inland marina, and destroyed the habi tat of hundreds of conch. Measures taken to limit the environmental impact, such as silt curtains, are inadequate, he said, and should be monitored. T WO MEN ATTEMPT SUICIDE By SANCHESKA BROWN Tribune Staff Reporter firstname.lastname@example.org PROPOSED amendments to the Criminal Procedure Code and the Criminal Evi dence (Witness Anonymity Bill violate a person's Constitutional rights, a prominent attorney said yesterday. While admitting that crime in a serious problem, lawyer Damien Gomez said govern ment should not sacrifice the fairness of the legal system in response. On Wednesday, Prime Minister Hubert Ingraham tabled amendments to the Criminal Procedure Code. One of the proposed changes extends the time police offi cers are allowed to hold a sus pect for questioning from 48 hours to 72 hours. Mr Gomez said this not only violates the Constitution, but it also allows corrupt officers more time to coerce confessions out of suspects. This is challengeable. Right now you are allowed to hold someone for 48 hours, after that you have to request for an extension from the court. This is done to prevent people from losing their libCALL TO MONITOR ISL AND DREDGING BILL EXEMPTIONS MUST BE CLEAR CRIME AMENDMENT S MA Y VIOLATE PEOPLES RIGHT TOMORROW, DONTMISSTHETRIBUNESBIGTFOR . FOOD COUPONS AND SPECIALS NEWS SPORTS FASHION FOOD TRAVEL MOVIES MUSIC TV NYTIMES EDUCATOR ACCUSED OVER FUNDS S S E E E E p p a a g g e e 2 2 S S E E E E p p a a g g e e 8 8 S S E E E E p p a a g g e e 2 2 S S E E E E p p a a g g e e 8 8 S S E E E E p p a a g g e e 8 8 S S E E E E p p a a g g e e 2 2
LOCAL NEWS PAGE 2, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE 3F & RPER 25 3F 0HJDHDO HQWULHVZLWK 3FSXUFKDVHf*5$1',=(7 5,3)25WRDOOLQFOXVLY %HDFKHVHVRUXUN &DLFRV,VODQGV$LUIDU F RXUWHV\RI%DKDPDVDLU%X\DQ\ 3FRU3F&RPER RU 3F 0HJ0HDO DQGHQWHUWRZLQEDFNSDFNZLWK V FKRROVXSSOLHVFHOOSKRQHVDQGODSWRSVWR JHWWKHVFKRRO\HDURIIWRJRRGVWDU)LOO RXW\RXUUHFHLSWDQVZHUWKHVNLOOTXHVWLRQ DQGSODFHLWLQWKHHQWU\ERSURYLGHGIRU FKDQFHWRZLQLQZHHNO\GUDZLQJV(17(52:,1 received another report of an attempted suicide. A 53-year-old man was rushed to hospital after he drank bleach and slit his wrists in an apparent effort to end his life. The man told police he was depressed over a recent robbery in which important documents were stolen. He is said to have called the ambulance himself after he started vomiting blood. He is in stable condition in hospital. TWO MEN IN S UICIDE BIDS f f r r o o m m p p a a g g e e o o n n e e confusion and undermine the purpose the legislation. I am pleased that the Freedom of Information Bill has been tabled and hope it will be debated soon. It is an important piece of legislation for the Bahamian people. It is the Bahamian people who hold us in government accountable and Freedom of Information gives (residents do just that, to see and acquire information on what is hap pening in government and hold the government accountable or if they are doing a good job to record that as well. I encourage Bahamians to take advantage of the final mechanism (once it is for access to information. He added: One thing we do not want to see is these exemptions being so broad-based that (what is not disclosed is up to the complete discretion to the Information Commissioner. That's something I think we do want to avoid, we want clarity and definition. On Wednesday Prime Min ister Hubert Ingraham brought a long-awaited FOI Bill to the House of Assembly. However, the legislation will not be enforced until July 1, 2012. Records are exempt from disclosure if the information would prejudice the country's security, defence or international rela tions; law enforcement information that would endanger a person's life or jeopardise the security of a prison. Data which contains advice or recommendations prepared for Cabinet meetings also will be exempt, among other things. Information that would injure the Bahamas' foreign relations, confidential Cabinet information or trade secrets are also exempt. Once the law is enforced, a person who wants to obtain information must apply to the public authority that holds the data. That agency must respond to the request no more than 30 days after receiving the application. The Bill also creates infor mation managers who will be appointed by every public authority to promote maintenance of records, archival and disposal; receive requests for records, assist persons seeking access to information and receive complaints about information disclosure. Under the new law, it will be an offence to alter, destroy, erase or conceal the contents of a document that is eligible for public access. Such an offence will carry a punishment of $1,000 fine and up to six months in prison, or both. The House of Assembly will meet on Monday to debate new regulations to govern the operation of the Straw Market and Ginn amendments. FOIEXEMPTIONS MUST BE CLEAR f f r r o o m m p p a a g g e e o o n n e e dor said. They have no respect for us. We know how to dress and we don't smell. The vendors, who all w ished to remain anonymous, believe they are being unfairly targeted and disrespected by the government. Theyre sitting high in their air-conditioned officesl ooking down on us, one w oman said. They are degrading our character and it needs to stop. The straw market has been a staple of the Bahamian tourism industry for decades,a nd the vendors feel that fact should be recognised. We contribute to the Bahamas, another vendor claimed. We sell these Bahamas t-shirts and hand-w oven bags to customers f rom all over the world. While many expressed anger, other vendors seemed genuinely hurt by the new regulations, and said they cannot understand why it would be assumed that they needi nstruction on how to groom and clean themselves. I just don't get it, said one, shaking her head. Were not awful people, you know.W ere just out here trying to m ake a living like everyone e lse. I dont know why they talk about us so bad. f f r r o o m m p p a a g g e e o o n n e e THIS LAW STINKS!
By CELESTE NIXON Tribune Staff Reporter c email@example.com T HERE was an outpouri ng of love from the friends and classmates of murdered 1 1-year old Marco Archer, as they gathered yesterday toc ommemorate his life and s end the message that he did n ot die in vain. S tudents and staff at Columbus Primary School h eld a memorial service for Marco, who went missing exactly two weeks ago andw hose body was found several days later. The students, still visibly shaken and upset by the death of their friend, shed tears as t hey paid tribute to Marco through poetry, dance and s ongs. Marco Archer, we love you, they said as they released doves and balloonsi nto the air in a symbol of remembrance. Grade Six students sang Missing You, to express that Marcos friends and classmates would not forget him. M arcos death led to an o ngoing campaign to increase awareness about child safety, and students, administrators a nd his family yesterday wore s hirts declaring that his death was not in vain. Minister of Education Desmond Bannister said it is clear from the outpouring of love and appreciation that Marco was treasured and cared about by all who knew him. Mr Bannister said: This w hole country has come to realise what a special boy he was even though this is a sad occasion I want us to focus on all the good things about Marco, remember his smile and his laughter, remember how he cared a bout all of you. Marco was last seen leaving his home on Brougham Street off Baillou Hill Road on September 23 between 4pm to 6pm when he went o ut to buy candy. His lifeless body was dis covered in bushes behind an apartment complex in Cable Beach five days later. Mr Bannister encouraged t he students to keep Marcos m emory alive but also to learn from this experience. He told them it is never s afe to go somewhere with a stranger. Mr Bannister said: Marc os story has been very t ouching and even though we have lost Marco, what is hap pening today is a very special e xpression of love his life had a purpose. Family members at the m emorial service said they w ere comforted knowing that Marco was surrounded by love not only at home, b ut at school as well, and that he touched the lives of so many. M arcos older sister said: We will look ahead with the comfort that it will make a d ifference in our country the sacrifice was my brother but the message is that we have to protect our chil d ren. Superintendent Dressler Sherman presented the schoola nd students with a Mango T ree in remembrance of Mar co. She said as the children grow, so will the tree, which will be a constant reminder of Marco and a celebration ofh is life. Principal Marcia Roberts described Marco as a kind, respectful, obedient student who touched the life of many students. It is with mixed emotions t hat I stand before you today. I am grieved because we lost a good child and student but If ind joy in the fact that our lives are richer for having shared several memorable years with Marco, Mrs Roberts said. LOCAL NEWS THE TRIBUNE FRIDAY, OCTOBER 7, 2011, PAGE 3 MARCO DID NOT DIE IN VAIN School holds memor ial service for murdered boy FELLOWPUPILS of Marco Archer pay tribute and shed tears for their murdered classmate at a memorial service held at Columbus Primary School yesterdayPhotos: Tim Clarke /Tribune Staff A SCHOOLMATE o f Marco Archer sheds tears at the memorial service A SCHOOLMATE of Marco Archer cannot contain her emotions at the memorial service THEMOTHER of Marco Archer, Tryphemia Meadows, being comforted d uring the memorial service for her son at Columbus Primary School FELLOWPUPILS pay tribute to Marco Archer in dance and with a release of doves A MEMBER of Marco Archers family at the memorial service
E DITOR, The Tribune. There are none as blind as t hose who will not see. I dont know which is worst those who will not or those, who cannot, for the FNM and the PLP I guess its all the same. We have some serious social issues in our country that just didnt stall over night but most of it is due to the neglect of the leadership of both the PLP and the FNM these two leaders lack the will, vision and the moral conviction to do any-t hing. The two, who are much of the same, are either slothful o r slack or just out of touch. They continue to allow socialc haos to roam rampant on the s treets of Nassau. There is no respect for law and order. Young underage girls and boys gather at local bars andc lubs at night drinking alcoh ol... some of which are on drugs. Some walk around at night aimlessly with nothing to do while others loiter in front of liquor stores in groups.T hese are children not adults, some of which are indulging with situations some grownups have problems dealing with. Iti s said the devil will find work f or idle hands. Many of these children have no fathers to care for them and are a victim of the streets. Jobless, they have nothing else to do but get into trouble. One would be surprised to know how far simple enforcement of the law or an addition to the law and thec rackdown of some of these c lubs and liquor merchants who exploit our children for profit would go in cutting down on crime, such as mur ders, illicit drugs, housebreaking, armed robberies, child abuse, domestic violence, gang violence, etc. The legal drink ing age should increase, loitering in groups outside thesel iquor stores should not be prohibited and the age of con sent should also increase! Many of our young teen age girls are now on alcohol andd rugs and are being exploited b y older men. If Mr Ingraham and Mr Christie could see they would understand the affects of drugs and alcohol on a young person who is angry, a young person who doesnt have a job or who has other social problems like being a fatherless child ora victim of child abuse. Just maybe that someone would be t empted to kill a person when they are provoked or just maybe they might have enough courage to do an armed robbery or just maybe they might be tempted to beat or kill their girl friend when experiencing relationship probl ems. Just maybe that young girl or young boy would have made a better decision when it comes to having unprotected sex and bringing unwanted children into the world or children they cannot afford to have. A vicious cycle continues and both leaders act as if there is nothing they can do about crime and murders. Let me say this the crime we are facing today is because of the neglect of simple laws that can be created or enforced and the tolerance the two leaders have for anti-social behaviour. A lot of anger is out there and thosew ho believe they are safe will o ne day wake up and find anger in their back yards. Mr Ingraham and Mr Christie are asleep, comfortable with the problems as they grow. They have both failed the Bahamian people and seem blind to whats going on. If we leave it up to the leaders of these two parties to solve our problemsw e might as well invite the thieves, rappers and murderers into our homes. I doubt very seriously if they drive the inner city at late nights, especially on weekends to have a feel for the problem our children are faced with and the social havoc that is consuming our country. The challenges our children will experience ata young and tender age are h orrendous if there is not a c hange, the anger and the hos tility that is out there will overr un all acceptable standards for law and order and will putu s all to shame one day in the eyes of the international world. While all hell is breaking loose with crime and this is not just limited to murders, as statistics show a frightening light on arm robberies, house breaking and domestic vio lences, etc. The leader of the c ountry and the former leader a re carrying on business as usua l as if to say the problems are n othing new to them. I believe w hen they leave work they t ake that one way ride home their place of rest with iron gates and burglar bars which make them feel safe and sleep like a baby while most of us live in fear. A national address is in order and the people need to hear from the leader and the former leader with their solutions and not a bunch of rhetoric like which Mr Christie runs on with, much words but little substance. But of courset hey are in deep sleep, like one in Acoma, paralysed to do anyt hing. We as a people have first an o bligation to God, next to our f amily and neighbour and to the country in which we live need to make a decision for change and not to be afraid ofi t, let us put aside the partisan s hip that binds are country and stagnates its growth. This country needs fresh new energetic leaders like Mr McCartney and his team who has a new visiona nd passion to make things right, who have the political will to make the country better. T his is not to say that Mr M cCartney is the answer to all our problems, but with the emergence of the DNA a greater democracy has already been created and the people have a hope for something bet ter than that which they have in the two parties an opportu nity to go farther than they h ave ever gone before. It is p retty obvious that Mr Ingraham and Mr Christie cannot take us there, their age is telling its toll on them and the problems our country is faced with is too much for them to handle. They are in need of new prescription lenses. They need something that would give them an energy boost,s timulate their senses and wake them up to see whats going on. But of course. There are none as blind as those who will not see. M R DNA N assau, September, 2011. EDITORIAL/LETTERS TO THE EDITOR P AGE 4, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE 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. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 WE EXPECT to hear much debate about the rights of an accused personw hen the Criminal Procedure Code and the Criminal Evidence (Witness Anonymity) Bill comes up for debate in the House n ext week. S ection 19 of the Constitution, which protects a person from arbitrary arrest and detention, will certainly get a gooda iring. There will be much discussion of an accused persons constitutional rights, which, we agree must, at all times be prot ected from arbitrary abuse. However, it m ust never be forgotten in all this debate that law-abiding Bahamians also have con stitutional rights. They have a right to be p rotected against the committed criminal. Between these two rights a happy mean has to be found that will protect the citizen f rom the ruthless offender. W e have been so anxious to protect the rights of the criminal that today these lawbreakers make sport of the law. They a re pretty certain that they wont swing for murder, no matter how brutal, and that life in prison means 25 years that can ber educed with good behaviour. O ne policeman told us that the gim mick for many of them is that once imprisoned, they trick their jailers by findingt he Lord. With the mask of the Lord covering their sins they slip below the radar, each year reducing their sentence by goodb ehaviour. In shortened time they get back on the streets, many of them returning to their old ways. This is why this par ticular police officer believes from his e xperience that the years off earned for good behaviour by hardened criminals should be turned into a probationary perio d by the courts. As for sex offenders their psychiatric treatment should also be continued during this probationary period. A lready a lawyer has started the argu m ent that to extend the time that the police can hold an accused for questioning from 48 to 72 hours not only violates t he Constitution, but allows corrupt offi cers more time to coerce confessions out of suspects. B ut there is another side to the coin. Police often have a dangerous criminal in custody, who for public safety shouldn ot be allowed back on the streets. However, because of the 48-hour rule they have to let him go, because they do not have enough time to thoroughly investi-g ate the charges for which they are hold ing him. We believe that the police are dealing with such a case as we write this article. The only way they have been able to hold this particular accused, until they can thoroughly investigate the more serious charges against him, has been to chargeh im with two previous offences. In this way, while he waits in prison for a court hearing, they have time to gather evidence t o charge him with the more serious o ffence. However, with the practice followed until very recently by some of our magis-t rates, such an accused could have been released on bail until his date in court. With the 72-hour detention rule, this could n ot happen. And the public has a right to e xpect that they would be protected from it ever happening. Criminals are still so in control in J amaica that witnesses are terrified to give evidence in court. Many walk away from a crime, seal their lips and the criminal carr ies on as the don of society. A lso in Jamaica, prior to the 2010 amendments to the Constabulary Forces Act, 24 hours was the lawful period that t he police could hold a person without charge. However, amendments were made to this Act as part of the Anti-C rime Bills introduced that extended t he detention period without charge to 72 hours. Today so many persons held in cust ody for questioning accuse the police of forcing their confession through beatings so many that we no longer believe their s tories that for their own security the police should do no interrogations withouta second policeman as a witness and a camera recording the full session. W itnesses also need protection. This has now become a major problem in our society. Very serious consideration has to b e given as to how the identity of a wit ness can be protected, while not sacrificing the rights of the accused. W itness protection was certainly used i n the United States at the height of the drug years. We believe that the identity of at least one Bahamian witness was pro-t ected in the US drug trial of Carlos (Joe Lehder, who operated from Normans Cay in the eighties. W e recall a 1994 murder case in England when a Miss A gave evidence anonymously, without revealing hera ddress. She sat behind a screen so that she, the judge and jury could see each other directly, but the defendants could not. N ervous witnesses have to be protect ed if the justice system is to function. There is no easy solution to any of this, but if crime is to be brought under control in this country, some solutions have to be found and urgently. There are none as blind LETTERS firstname.lastname@example.org A citizens right to be protected from crime RECEPTIONIST/OFFICE CLERKResponsibilities include, but not limited to: Must have a pleasant telephone voice with a good command of the English Language and be customer service oriented. Good working knowledge of general oce procedures. Computer literate, knowledge of Accpac software working with A/Cs Receivable an asset. Scheduling customer work. Typing customer proposals and letters on Microsoft Oe. Filling new quotes and work completed. Credit stop lists and collections. Updating customer data base.ONLY APPLICANTS AGE 35 YEARS AND OLDER NEED APPLY.Please send resume to the following: Fax: 322-3969 or email email@example.com P.O.Box N-1388, Nassau, Bahamas EDITOR, The Tribune. Who is managing this road improvement programme? I support the need for it, but last weekend I had the opportunity to get a closer look at what motorists have to contend with and the scope of what is going on is not adding up. I get the impression that those in charge are out of their depth, or those machines are working just to accumulate the hours; and the operators just go around ripping up stuff to keep the payroll going. How about staying in one area and getting that fixed first? That way the inconve niences would be localised and the public would know which area to avoid; right now the public is in the dark about which areas to avoid and this is creating some nasty scenes. And then a spokesman from BEC has the temerity to inform the public that they are going to have to dig the roads up in the near future. Who are these people working for and who is paying them? You get the impression that the road work is being done by the government and the opposition at the same time, with the public stuck in the middle. Someone needs to inform these rocket scientists that there is only so much they can do, but if you are not paying the bill you will not have the needed perspective. My fellow Bahamians, this road project is headed straight to the bank nearest you and your account will be impacted. EDWARD HUTCHESON Nassau, October 4, 2011. Road pr og r amme
T HE polices Financial Intelligence Unit reported that last year, it recorded a marked increase in the number of suspicious transaction reports some of whichc ould be connected money laundering or terrorism financing activities. T he statistics were revealed by the FIUs director, former commissioner of police Reginald Ferguson, ina report tabled in parliament this week. R ather than necessarily indicating a rise in criminal activity, the higher number o f suspicious transaction r eports (STRs m ent to the redoubled efforts of the FIU team ando ther financial sector employees, Mr Ferguson said. From January 1 to December 31, 2010 a total of 142 STRs were received by theF IU, covering $407,333,650 w orth of transactions. Most of the institutions to that reported these transactions were domestic and offshore banks, which account-ed for 117 of the 142 reports. Of these cases, 53 were f orwarded to the commissioner of police for investigation, while 73 were analysed and closed by FIU personnel. Sixteen of the reports are s till being examined. Mr Ferguson said: The global economic downturn w hich our country has been experiencing for the last few years has not abated significantly; but the government of the Commonwealth of the Bahamas continues to ade-q uately fund the FIU. The emerging trends indi cate that across the interna-t ional financial community t here has got to be eternal v igilance, enhanced co-oper ation, and commitment. The laundering of money derived from, or in support of, crimes such as drug trafficking, terrorism and their derivatives (inclusive of crimes which have thep otential to be similarly m anipulated) are becoming even more challenging, he said. The report did not say how many STRs were recorded in 2009 or the preceding years. LOCAL NEWS THE TRIBUNE FRIDAY, OCTOBER 7, 2011, PAGE 5 By DENISE MAYCOCK T ribune Freeport Reporter firstname.lastname@example.org FREEPORT A 44-yearold man was arraigned in the Freeport Magistrates Court y esterday in connection with a fatal traffic accident last March. Gordon Outten appeared before Deputy Chief Magis-t rate Helen Jones in Court T hree on the charge of killing i n the course of dangerous driving. It is alleged that on March 19, 2010, the accused was driving a Dodge Ram Truck,w hich was involved in a traff ic accident that resulted in t he death of Ms Alma Stuart. The incident occurred at around 11.15pm at the intersection of Coral Road andG ambier Drive. T he accused was repres ented by lawyer Simeon Outten. He pleaded not guilty to the charge and was granted $5,000 bail with one surety. T he matter was adjourned t o March 26, 2012 for trial. RISE IN NUMBER OF SUSPICIOUS FINANCIAL TRANSACTIONS MAN APPEARS IN COURT IN CONNECTION WITH FATAL TRAFFIC ACCIDENTS G ORDON O UTTEN, who appeared in court followinga traffic a ccident REGINALD FERGUSON, director of the polices Financial Intelligence Unit, who has r eported a marked increase in the number of suspicious transaction reports which c ould be connected to money laundering or terrorism
LOCAL NEWS PAGE 6, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE Under The Patronage Of The Governor General His Excellency Sir Arthur A. Foulkes Dr. Myles Munroe & p r e s e n t a OCT OBER 9th-11th Reaching,Restoring&EmpoweringMenForPositiveActionMr. Ethan MossPresident Real Men Min. Event Coordinator S CHEDULEOFEVENTS SUNDAY, 9th OCTOBER 4:00PM 1) MARCH from Southern Recreational Grounds to Rawson Square for MISSION OUTREACH & RALLY 2) NATIONALADDRESS byGovernment,Church,Police&CivicLeaders in Rawson Square MEN ONLYADVANCEMENTEVENTS@ The Diplomat Ct., Carmichael RoadM ONDAY, 10thOCTOBER 9:00am-11:30am Young Men & Boys Empowerment Session 7 :30pm9:30pm MEN ONLY Advancement & Action Event TUESDAY, 11thOCTOBER 9 :00am-11:30am Men In Crisis Empowerment Session 7:30pm9:30pm MEN ONLY Advancement & Action Event Tel.461-6442/5or461-6471Fax341-6936Email:email@example.com I N PARTNERSHIP with the Panama Tourism A uthority, Copa Airlines h osted Bahamian journalists on a four-day excursion to P anama in an effort to help s trengthen the relationship b etween the two countries. T he group visited colonial s ites, the rainforest, and the Panama Canal as they l earned of Panamas history a nd plans for future development, including a Biodiv ersity museum. See tomorrows Big T f or the full story A CARGO SHIP entering the Panama Canal. The canal is a critical to international maritime trade as it joins the Atlantic and the Pacifico ceans. THE MUSEUM at the Miraflores Locks Visitor Centre memorialises the efforts of workers from several countries during the construction of the canal. PROJECT MODEL of the $96 million Biodiversity Museum. The ambitious project was designed by Frank Gehry and seeks to showcase theg eological importance of the Isthmus of Panama. AERIAL TRAM at the Gamboa Rainforest A SPOKESPERSON at the Biodiversity Museum site explains the project to Bahamian journalists. UNCOVERING LINKS WITH PANAMA THE MIRAFLORES LOCKS at the Panama Canal. The cargo ship ist ravelling from the Pacific Ocean to the Atlantic.
LOCAL NEWS THE TRIBUNE FRIDAY, OCTOBER 7, 2011, PAGE 7 FREEPORT A renovation project at the former Columbus Theatre on the Mall Drive is almost complete. T he once popular entertainment centre and Freeport landmark is being given a dramatic facelift as local investorsthe Siboney Development Group get set to open their multi-million dollar office complex on the premises. All of us who are involved with the project grew up here and went to the Columbus Theatre as kids and young adults, said Greg Smith, president of Siboney. So preservation of the building really meant a lot to us individually and collect ively. We understood it was a landmark building, so we wanted to do justice here. Work began in late 2009 and is set to be finished by January 2012. The two-storey, 24,000 sq ft complex will house the m ain offices of the law firm Greg Moss & Associates; doctors offices; a pharmacy; an atrium; and an internet caf with an adjoining courtyard. More office space is still available for lease. Commenting on the project, president of the Grand B ahama Port Authority Ian Rolle praised the investors. First of all, were pleased to have local business persons, Grand Bahamians, investing in the economy, he said. Secondly, this project comes at a time when the w orld is going through a transition period due to the global recession, yet the Siboney Group is forging ahead with their plans, demonstrating their confidence in the stability of the local market and the potential for growth. Mr Smith said the investors a re encouraged by the level of interest and support so far. Weve been pleased with t he response weve gotten from the public and the business community. We haventh eard any negative comments thus far, he said. M r Smith said the recent Downtown Turnaround Project launched by the GBPA served as a stimulus. Overall improvements to downtown and the construct ion of other buildings that a re going up on the Mall are r eally making signature statements and we didnt want to do anything less with our reno vations, he said. Charged with the massive task of converting an old thea tre into a modern, multi-purp ose business centre was local c ontractor Dwight Knowles o f Keystone Development. H is dedicated crew of 30 w orkers levelled the original sloped floors and erected additional steel and concrete supports for the second floor. W ork has continued steadi ly without any major obstacles other than persistent attempts by pigeons to return to their former home. POLICE are currently investi gating two separate armed robberies that took place Tuesdayby four unknown men. The first armed robbery took place by two men around 11.25am at John Chea on Wulff Road and Mount Royal A venue. The men entered the establishment, one armed witha gun, and demanded cash. The suspects took an undetermined amount of money and then fled on foot, east along Wulff Road. The second incident occurred around 1.25pm at Muck-AMucks on East Street. Two men entered the establishment, one armed with a gun, and demanded cash. The suspects took an undetermined amount o f money and then fled north on foot. Police are asking members of the public to contact police if they have any information. ARMED ROBBERIES BY FOUR MEN DELIGHT OVER FACELIFT FOR GRAND BAHAMA LANDMARK GREG SMITH, president of the S iboney Developm ent Group (right I an Rolle, GBPA president; and Ginger Moxey, GBPA vice president, tour the new office f acilities. THE SIBONEY Group is restoring this famous struc-t ure on the Mall Drive.
Silt can be seen spilling onto the nearby coral and vegetation lining the sea bed, the senator said. And there appears not to be a full-time on-site environmental manager. Yet neither the government, nor the National Trust, is taking any action to correct it. Mr Fitzgerald called on the government to ensure the dredging and excavation is done in accordance with requirements set out by the BNT and the Bahamas Environmental, Science and Tech nology (BEST An application from Islands of Discovery Ltd, the Aga Khan, to excavate over 12 acres of land and sea bed at the 349 acre island was approved in September last year. Environmental Minister Earl Deveaux was ridiculed for accepting a free ride in the Aga Khans helicopter from Nassau to Abaco, and then to Exuma, to do a survey of Bell Island while the planning application was before his ministry. Conservationists criticised the Bahamas National Trust for allowing the development in the park, and Tribune sources alleged the BNT accepted a $1m donation from the Aga Khan. The FNM government and the BNT have turned a blind eye to what is going on at Bell Island and turned their backs on the Bahamian people, all for a few helicopter rides, $1m, and who knows what else, Mr Fitzgerald said before a group of reporters and party support ers at the PLP headquarters in Farrington Road yesterday. The FNM has talked about the importance of eco-tourism but instead of preserving treasures like Bell Island for Bahamians, they are allowing foreigners to destroy it. Images of the 30ft cliff from the inland excavation, and of silt spreading from the dredging of a 14ft channel leading into the yacht basin being excavated from a natural salt pond were shown in a short video featuring interviews with local tour guide Wayde Nixon and activist Terry Bain. Mr Bain, spokesman for the Save the Exuma Park (STEP Committee, said the endangered Bahama Duck frequented the salt pond, and that photographs of the birds at the site had been ignored by authorities. The 176 square mile park established in 1958 has been guarded by the BNT since 1964 and is a strictly no-take zone. We believe it is a criminal action for a minister to approve development in a national park in the same way that it is a criminal act to take anything from the park, said Mr Bain. By putting the environment under threat, Mr Fitzgerald said the development also threat ened the livelihood of locals who rely on the park to maintain healthy stocks of fish and conch. Bahamians are working on the Bell Island project, but whatever work they are doing is short-term, Mr Fitzgerald said. However, former PLP MP for Exuma George Smith told The Tribune Prince Karim Aga Khan has been a great benefactor to the local community in Black Point by creating jobs for people of all ages and abilities, and leaving the dredged sand landfill for them to collect. He also pledged to fund the development of a health clinic in Black Point and a new hospital in George Town, Mr Smith said. Although some people might not like the dredging, we have to look at the bigger picture, Mr Smith said. The Aga Khan is not a villain, hes a great benefactor. He has employed a reasonable workforce and hes endeavouring to employ peo ple from Black Point. But whatever his good deeds may be, they cannot erase the environmental damage, said Mr Fitzgerald. I dont care how much he spends, or what he donates; no amount of millions of dollars can mitigate the destruction, he said. There is no way the government should have considered approving this. Environmental activist Sam Duncombe agreed the damage cannot be undone. She said: The National Trust should have put rules and regulations in place a long time ago, to warn anybody who owns land in the park what they can and cannot do, and I think the fact that they have failed to do that in 50 years is disgusting. If we can't protect the world's oldest national marine park, then we have failed miserably. Calls to Gail Lockhart Charles and Co, representing the Aga Khan, were not returned before press time. LOCAL NEWS PAGE 8, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE EMAIL: firstname.lastname@example.org WEBSITE: friendlymotorsbahamas.comFRIENDLY MOTORS CO. LTDTHOMPSON BOULEVARD TEL.: 356-7100 FAX: 328-60942 2 0 0 1 1 1 1 F F O O R R D D M M U U S S T T A A N N G GIntroducing The All NEWan American IconShop & CompareAll new, all new, nothing like it available in The Bahamas, a true American Sports car. With the new 3.7L, 305 HP, V6 with Automatic Transmission, custom 17 inch alloy wheels, power windows, locks and mirrors, side curtain air bags, plus leather interior and the all new Sync System and all standard features, PLUS 3 years/36000 mile warranty assistance, 3 years rust protection, licence and inspection to birthday, full tank of gas, floor mats, first five services Reserve yours now available at I I f f y y o o u u a a r r e el l o o o ok k i i n n g gf fo o r r t th he eb b e e s s t t v v a al l u ue e a av v a a i il l a ab b l l e e Y Y o o u u o o w w e ei i t t t to oy yo o u ur r s s e e l l f ft t o ob b u u y y o o n n e e courtroom, returned with Simeon Brown, who agreed to hold the brief for Shurland. Attorney Erica Kemp was the prosecutor. The matters before the court 13 counts of forgery, 11 counts of fraud by false pretences, and two counts of attempted fraud. The incidents are alleged to have been committed from July 29, 2010, to September 1, 2011. White is alleged to have received funds totalling $73,500 and attempted to obtain $24,200. The charges are: Count one: It is alleged that on July 29, 2010, the accused forged a Royal Bank Canada Finco cheque in the amount of $8,200. Count two: It is alleged that on July 29, 2010, the accused committed fraud, defrauding Scotiabank of $8,200. Court three: It is alleged that on August 6, 2010, she forged a RBC Finco cheque in the amount of $5,100. Count four: It is alleged that August 6, 2010, White committed fraud, by defrauding Scotiabank of $5,100. Count five: It is alleged that September 24, 2010, the teacher forged a RBC Finco cheque in the amount of $3,100. Count six: It is alleged that on September 24, 2010, White committed fraud, defrauding Scotiabank of $3,100. Count seven: It is alleged that October 15, 2010, White committed forgery by forging RBC Finco cheque in the amount of $1,400. Count eight: It is alleged that October 15, 2010, White committed forgery by forging RBC Finco cheque in the amount of $2,100. Count nine: It is alleged that January 7, 2011, White forged a RBC Finco cheque in the amount of $9,300. Count 10: It is alleged that January 7, 2011, White committed fraud, defrauding Sco tiabank of some of $3,900. Count 11: It is alleged that January 28, 2011, White forged a RBC Finco cheque in amount of $4,100. Count 12: It is alleged that January 28, 2011, White committed fraud, defrauding Scotiabank of $4,100. Count 13: It is alleged that March 31, 2011, White forged a RBC Finco cheque in the amount of $10,200. Count 14: It is alleged that April 1, 2011, White defrauded Scotiabank of $10,200. Prosecutor Kemp said the 14 charges are all indictable offences. White was not required to enter a plea to the charges. A preliminary inquiry will be held to determine if there is sufficient evidence for trial in the Supreme Court. Magistrate Jones said that counts 15 through 26 were not indictable and that the accused was allowed to enter a plea to the offences and elect summary trial in either the Magistrates or Supreme Court. White pleaded not guilty to the following offences: Count 15: It is alleged that on April 21, White forged RBC Finco cheque in the amount of $5,100. Count 16: It is alleged that April 21, White committed fraud, defrauding Scotiabank of $5,100. Count 17: It is alleged that May 11, White forged a RBC Finco cheque in the amount of $2,100. Count 18: It is alleged that May 12, White committed fraud, defrauding Scotiabank of $2,100. Count 19: It is alleged that June 30, White forged a RBC Finco cheque in the amount of $12,100. Count 20: It is alleged that July 5, White attempted to defraud Scotiabank of $12,100. Count 21: It is alleged that July 14, White forged a RBC Finco cheque in the amount of $12,100. Count 22: It is alleged that July 14, White attempted to defraud Scotiabank of $12,100. Count 23: It is alleged that August 3, White forged a RBC Finco cheque in the amount of $18,100. Count 24: It is alleged that August 3, White committed fraud, defrauding Scotiabank of $18,100. Count 25: It is alleged that on August 31, White forged a RBC Finco cheque in the amount of $6,100. Count 26: It is alleged that on September 1, White committed fraud by defrauding Scotiabank of $6,100. Prosecutor Kemp did not object to bail and requested that White surrender her passport, travel documents and report daily to the Police Station or be outfitted with an electronic ankle bracelet. Mr Brown, however, strongly objected to White being outfitted with an electronic monitoring device. He noted that White is a permanent resident of the Bahamas and the mother of Bahamian children living in Grand Bahama. She has made the Bahamas her home and has been a credit to the society, Mr Brown said. I submit that an ankle bracelet is inappropriate, and to have her report daily to the Police Station is unnecessary and burdensome, he said. Magistrate Jones ordered that White surrender her pass port and to report every Mon day to Central Police Station before 10am. Bail was set at $50,000 with a surety. The case was adjourned to May 2 in court one and two. EDUCATOR ACCUSED OVER FUNDS FORMER TEACHER Aleda Elaine White, 55, at court yesterday erties at the whim of the executive, he said. For the police to be able to hold someone for 72 hours r emoves the safeguard intende d to ensure constitutional r ights are not overlooked. W hat if they are beaten or coerced? This extra time willg ive the suspect more time to h eal, if they were beaten, before they go before a magistrate. Government has also introduced a law that will protect a witness identity, allowing them to remain anonymous before, during and after a trial. Under the Criminal Evid ence Bill a witness name and other identifying details are withheld. The witness would use a pseudonym and their voice would be subject to modification. An application for an anonymity order may be made to a magistrate by the Commissioner of Police or the Attorney General. M r Gomez yesterday questioned if this amendment would allow the witness to abuse the system. Who will be able to verify these people are who they say they are? How can I crossexamine someone without knowing if they have been making consistent statements? If you have a jury and they cannot see a witness how are you going to assess whether they are telling the truth or not? You essentially take away from the tribunal the ability for visual contact to determine whether or not they believe or disbelieve a person. There are a number of problems I foresee from a p ractical point of view. The witness could be a over zealous cop trying to get a conviction. You just never know. I f they want to protect the w itnesses what they should d o is improve the witness p rotection programme. P rime Minister Hubert Ingraham tabled a number ofB ills in the House of Assemb ly, Wednesday, in effort to solve the countrys crime problem. Parliamentarians are expected to begin debate on the Bills when the House meets next week. f f r r o o m m p p a a g g e e o o n n e e f f r r o o m m p p a a g g e e o o n n e e f f r r o o m m p p a a g g e e o o n n e e CRIME AMENDMENTS MAY VIOLATE PEOPLES RIGHT C ALL TO MONITOR ISLAND DREDGING
By NEIL HARTNELL Tribune Business Editor THEClearing Banks Associations (CBA day said a combination of seasonal trends and Hurricane Irene were likely to blame for Augusts 7.6 per cent increase in the sectors $1.25 billion bad loan portfolio, with more than $1 out every $5 lent by the commercial banking industry now in default. The $87.7 million loan arrears increase during August took defaulted credit, as a percentage of the total $6.187 bil lion in Bahamian dollar loans extended by commercial banks, to a new high during this recession, prompting CBA chief Ian Jennings to reiterate that the sector and, by extension, the Bahamian economy was in for a long, hard haul. Its probably a combination of two things, Mr Jennings told Tribune Business, in response to the $88 million August arrears spike. One is seasonality, but you have to remember that Hurricane Irene came right at the end of the month, and lost banking days and customers getting ready for the storm contributed to that. Commercial bank loan defaults tend to rise, at least temporarily, during the sum mer months as Bahamians tra ditionally pay for vacations and leave the island, sometimes neglecting their loan obligations. Heading into the weakest part of the tourism season also means reduced incomes for some. We will monitor it into Sep tember and October, and see if its a temporary increase and seasonality, rather than a longterm trend, added Mr Jennings. Our initial thinking is that it will be a combination of $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.32 $4.94 $5.50 T HETRIBUNE SECTIONB email@example.comFRIDAY, OCTOBER 7, 2011 B y NEIL HARTNELL Tribune Business E ditor A CREDIT SUISSELEDlending syndicate is in line to get a 10 percent-a ge point Stamp Tax break if Parliament passes legis-l ation allowing it to take p ossession of 1,476 acres in Grand Bahamas West End paying just a 2 per cent rate. The Modification of Provisions (Ginn-LA West End Grand Bahama)A mendment Bill 2011, a copy of which has been viewed by Tribune Busi-n ess, appears designed to facilitate the Credit Suisseled lending syndicate doing w hat it abandoned in the S upreme Court foreclosure action, namely taking pos session of the real estate s ecured by a mortgage the $4.9 billion Ginn sur mer developers defaulted. The Bill has been tabled i n Parliament, but eyebrows are likely to be raised at the Stamp Tax b reak the Credit Suisse syndicate, named G-LA Resorts Holdings( Bahamas), is receiving. G iven the size of the 1,476-acre plot it is taking possession of, and the val u e of that land, by applying just a 2 per cent Stamp Tax rate instead of the nor m al 12 per cent the Government is effectively giv ing a leading global finan cial institution and its fel l ow lenders a 10 percentage point tax break worth potentially hundreds of By NATARIO McKENZIE Tribune Business Reporter nmckenzie@ tribunemedia.net A MAJOR shipping company will shut down its Nassau operations within the next three to four weeks, Tribune Business can reveal, r esulting in the loss of 29 j obs. Bay Street-based S eaboard Marine was said to h ave lost millions due to a saturated market. They will be shutting d own their Nassau operations within three to four weeks, a well-placed source said of Seaboard Marine. Twenty-nine employees will be affected. Thats all areas; i n logistics, stevedoring, comm ercial and operations. Asked why the company h ad decided to close, the s ource said: The market is not regulated. Its a small m arket with too many players, and no one is making a profit. I believe in competit ion, but you cant have too many players. The market has become too saturated,t hey have lost millions. No shipping company has made a profit in this marketi n the last three to four years. T hats with the arrival of MSC (Mediterranean Shipping Company), the source added. The Government allowed MSC into the market. MSCi s too big for the market; its the second largest shipping company in the world. They also allowed two other lowcost carriers into the market. T heir [Seaboard Marine] revenue dropped by half in the last three-and-a-halfy ears. Dario Terrelli, Seaboard Marines sales manager, anda lso the Democratic Nationa l Alliance (DNA for Blue Hills in the upcoming election, declined to comment when contacted by Tribune Business for comment. According to the source, t he delay in completing the new Arawak Cay port is also impacting shipping companies. We have all pumped hund reds of thousands of dollars into the development of the port, the source added. Thed elay of the port didnt help Seaboard, because we were all hoping to get on the portb y summer past. They h avent completed the port, and said it wouldnt be ready until the end of the second quarter of next year. There is another shipping company that may be closing alsob ecause they lost more than Seaboard. Concerns over there a saturated shipping market, and calls for greater regulation, w ere reiterated by Barbara Carey, senior account executive at Crowley. She told Tribune Business: The Government needs to regulate the shipping industry. Right now, all the shipping markets are operating at a loss because the market is saturated with too many different shipping companies. Eventually, if this continues, more companies might c lose, and then it may just b ecome monopolized and we end up with just one shipp ing company. I dont think the Government realisesh ow serious the shipping i ndustry is. S he added: I know we are l osing money, too. We may not be losing as much as S eaboard, only because we s hip from Jacksonville and no one else does, but we c ould have been in that same boat just because we cannot get enough money per container. By NEIL HARTNELL Tribune Business Editor THE GRAND BAHAMA POWER COMPANY was yesterday said to have reimbursed several major commer cial/industrial customers in excess of $5.5 million for overbilling them over at least seven years, a PLP election candidate urging greater transparency and oversight of its operations. Describing the islands current energy situation as untenable and one that cannot continue down this path, Gre gory Moss, an attorney and former Grand Bahama Chamber of Commerce president, called on the Grand BahamaPort Authority (GBPA B y NEIL HARTNELL Tribune Business Editor T HE GRAND BAHAMA POWER COMPANYlast night said thefts of copper wiring from its system were l ikely to cost it more than $250,000 this year, a sum higher than 2010s figure, adding that 1,227 incidents of theft had been uncovered by its meter a udit initiative. Responding to claims that the islands monopoly power supplier hadc ollectively repaid several large indus trial/commercial customers more than $5.5 million as a result of overbillingsd uring a seven-year period since 2004, a Grand Bahama Power Company s pokesperson described the sum quoted as grossly exaggerated and sig nificantly less than claimed. A cknowledging that the meter audit revealed five customers were overbilled, the spokesperson whole declining to name them said theyh ad largely been reimbursed by cred its, and not from Grand Bahama Power Companys cash flow. For all of them there were different circumstances and durations, the spokesperson said of the five. Someo f them were because of customer e rrors, and not all were related to Grand Bahama Power Company. The B AD LO ANS SPIKE $88M IN AUGUST Bank association chief warns of long, hard haul, as $1.25bn, or $1 out of every $5 lent, in arrears Says last months surge likely due to seasonal tr ends and Ir ene SEE page 4B UTILITY BRACES FOR $250K-PLUS HIT VIA COPPER THEFT Grand Bahama Power says meter audit uncovers 1,227 incidents of electr icity theft Copper thefts contin uing despite export ban Alter nativ es study to be completed within month SEE page 3B TOP SHIPPING FIRM TO CLOSE $5.5 MILLION REFUNDS SHOW UNTENABLE GB POWER WOES Seaboard Marine to shut Bay Street operations in 3-4 weeks with loss of 29 jobs Company said to have lost millions, and seen revenue slump 50% in last 31/2 years Blame put on saturated market, Port delay and competition from likes of MSC CREDIT SUISSE GAINS 10% PT GINN TAX BREAK Major institution to p ay 2% Stamp Tax, not u sual 12%, on transfer of 1,476 acres at $ 4.9bn Ginn sur mer p roject to it Concession gives up l ikely seven-figure sum, and comes at time w hen Govt desperate f or revenue SEE page 2B PLP candidate alleges energy firm overbilled major clients, s uc h as P o lymers and Shipyard, over seven-year period Company says sum grossly exaggerated Port urged to get act together on regulation URCA complaints lead to nowher SEE page 4B GREGORY MOSS
BUSINESS PAGE 2B, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE BySIMON COOPER Res Socius I was watching the movie P ursuit of Happyness on a television channel the other day, and seeing it brought back memories of how Chris Gardner inspired me as a young man. Remember him?H e grew up in a Milwaukee s lum where alcoholism, d omestic violence and sexual abuse were the norm, although his beloved mother cared for him between the times he spent in fosterh omes. Chris had some hard times as he migrated from poverty to success, and has never forgotten the nights when he rough-slept in subway bathrooms because his salary wass o low. Today, he divides his time between helping those less fortunate and managing his highly esteemed institutional securities brokerage. He is over 50 now himself, a nd shares these interesting t houghts on re-starting babyboomers lives again, when given half the chance. Do something that makes you happy, but keepy our feet on the ground. Othe r people dont have to agree with what you choose to do, or even think it is a good idea. At the same time, maintain a balance between enthusiasm and the practic alities of life. Discovering a n ew species of butterfly in the Bahamas may be great, but you still need to pay the rent. Buy a business or start y our own. The harsh reality is t hat few people in the Bahamas hire anybody older than themselves, and thats a tough truth to face up to w hen theres a younger hand on the economic steering wheel. The flip side is that experience can be a business owners greatest asset. Just have a plan, and commit tow hat youre doing. Dont l eave the staff in charge while you pay golf. Create the future around your capabilities. Accept your strengths. Have the c ourage to accept your weakn esses, too. It makes no sense at all to tackle something where you could never succeed, no matter what the reason. If you are not a pioneering person, buy an existi ng business instead. Your s kills and talents are transferrable to other ventures. Look after yourself at all t imes. There is no Bahamia n cavalry riding to your rescue. Focus on what matters and celebrate progress. A football player watches thea ction on the ground, not the s pectators in the stands. Lifes the same. We need to focus on the primary goal, which is a happy life shared with family and friends. Work and business should n ever dominate. They are j ust a vehicle to get you there. If its not broken, dont try to fix it either. Celebrate successes, no matter how small they are. Every step counts along the road. N ow thats what I call clarity of vision well worth sharing. Did you find it interesti ng? I surely hope so. Chris G ardners a modest man, so he leaves out the most important thing of all. Put something back. Share the fruits of your success with those less fortunate. Thats whatC hris Gardners Pursuit of H appyness is all about. NB: Res Socius was founded by Simon Cooper in 2009, and is a business brokerage authorised by the Bahamas I nvestment Authority. He h as extensive private and public SME experience, and was formerly chief executive of a publicly traded investment company. He was awarded an MBA with dist inction by Liverpool Univ ersity in 2005. Contact him on 636-8831 or write to firstname.lastname@example.org. A SHARED VISION FOR YOUR SUCCESS SIMONCOOPER NASSAU AIRPORT DEVELOP MENT COMPANY ( NAD) officials have joined other Bahamian tourism stakehold ers at the 17th annual World Route Development Forum in Berlin, Germany. The conference brings together more than 2,500 airports, airlines and tourism partners for one-on-one talks on air service development. NAD teamed up with the Ministry of Tourism & Aviation (MOTA sau/Paradise Island Promotion Board (NPIPB ing and potential airline carriers. The group also met with event organisers to discuss the Routes Americas conference. The regional version of the forum will be held in Nassau during February 2012. That conference will bring more than 400 delegates from the region to the Bahamas. As the official host, NAD will work closely with co-sponsors Atlantis, the Ministry of Tourism & Aviation and the Nassau/Paradise Island Promotion Board, and the Bahamas Hotel Association. By hosting an event like Routes Americas, we have a unique opportunity to show case our existing product to key airline decision makers, said Vernice Walkine, vice-president of marketing and communications at NAD. We will also be able to highlight the overall infrastructural improvements in the capital, including the new airport facilities and emerging developments like Baha Mar. During an official handover ceremony in the Dominican Republic last February, Dave Stroud, senior vice-president of Routes, said: Hosting an event with an airport right in the midst of a massive devel opment project provides an excellent opportunity to give delegates a first-hand experience of what such a task involves, and I am confident that the 5th Routes Americas will leave a big and positive impression with delegates. AIRPORT EXECUTIVES AIM TO BOOST AIRLIFT FROM BERLIN TO NASSAU As the Bahamas gets set to host the Routes Americas Forum in 2012, event sponsors attended Routes W orld in Berlin to discuss plans. P ictured L to R: David Johnson, d irector-general, MOTA; Stewart S teeves, president and chief execut ive, NAD; Shonalee Johnson, mana ger, communications, NAD; Vernice Walkine, vice-president of marketing and communications, NAD; a nd Fred Lounsberry, chief execut ive, Nassau Paradise Island Promotion Board. thousands, if not millions, of d ollars. S uch a concession is also coming at a time when the Government is desperate tol ay its hands on every cent of revenue it can get. Under the new Bill, Section 8 of the original Act will now read: The Stamp Duty which is payable under the Stamp Act on a conveyance from the borrowers to the lenders of the equity of redemption in respect of any real property comprising the project shall be calculated at the rate of 2 per cent. This effectively means that any conveyancing by the developers of the 1,476 acres to the Credit Suisse group will attract just 2 per cent Stamp Duty. One source with knowledge of developments said Credit Suisse had pushed the Government for the tax break on the grounds that the original Heads of Agreement had allowed Ginn Development Company and its financing partner, Lubert Adler, to sell West End real estate at the same 2 per cent Stamp Duty rate. The bank had also made some promises to the Gov ernment to develop the property, the source said. The Heads of Agreement provides that 2 per cent on the first sales, so they chose to argue to the Government that if you allow this under the Heads of Agreement, let us have this, too, as we will do something with the land, they told Tribune Business. The source added that the Government had promised to get the legislation passed by Octobers end. The new Bill also provides for the original Ginn sur mer Heads of Agreement, its successor agreements, and all their rights, incentives and benefits, to be assigned to the Credit Suisse lending syndicate and LRA OBB, which stands for Lubert Adler Old Bahama Bay. The two parties are now going to develop Ginn sur mer in what is likely to be a joint venture. Whichever way you cut it, the Bill is designed to pave the way for the 1,476 acres to be conveyed to the Credit Suisse group and their plans for its development. The legislation comes after Supreme Court Justice Neville Adderley criticised the Credit Suisse group and holding company for the $4.9 billion Ginn development for "abuse of process", finding their move to drop their foreclosure bid was designed to prevent "protracted liti gation" involving rival land claimants. In a September 29, 2011, in-chambers ruling, Justice Neville Adderley said the court would be "naive" not to think the September 1 'Notice of Discontinuance' was filed to forestall a ruling on applications to stay, and intervene, in the proceedings by adverse claimants to the 1,476 acres the lending syn dicate was seeking to foreclose on. This was indicated by the Credit Suisse syndicate's sub missions, which warned that the rival claimants' cases would cause "added delay, increased costs" in a situat ion where interest on the defaulted loan was increas ing at a rate of $14,539 per day. The Credit Suisse syndicate had advanced "considerable sums" to develop theG inn sur mer project, with the loans and security documents ultimately ending up with the bank's Cayman branch. Justice Adderley said the developer ultimately defaulted on the credit advance. The original loan amount was $276 million, with the sum necessary to redeem the mortgage standing at $77.897 million. The Credit Suisse syndicate moved to exercise its security and foreclose on the land subject to the mortgage in May 2011, an action taken with Ginn-LA West End's consent. Ultimately, given that there were multiple pending Supreme Court actions in which the rival land claimants could pursue their claims, the judge decided their rights were protected and gave the Credit Suisse/Ginn parties leave to discontinue provided they paid the others' costs. CREDIT SUISSE GAINS 10% PT GINN T AX BREAK FROM page one
overbillings were all for different reasons. There was one whose e lectrician had mis-wired their meter. We brought it to their attention, and were a ble to reimburse them. They were very happy we brought it to their attention. G rand Bahama Power C ompany yesterday said its meter audit initiative, which began on July 27, 2009, hadc ompleted reviewing 64 per cent of its residential customers. O f the 11,534 meters audited, Grand Bahama Power Company had uncovered 1,227 incidents of theft p ersons illegally connecting with its system or meter tampering. A further 16 cust omers had been underbilled. Unfortunately, theft has b een an ongoing problem for the Power Company, the spokesperson said, not only e lectricity theft but copper theft, which has continued despite the export ban. Its unfortunate and a v ery unpleasant situation.... Last year we lost $250,000 [from copper theft]. Thisyear its going to be that and a little more, not including the additional man hours we have to put on to get the sys tem back to normal. As soon as get it back up, its off again. Some 500 feet of copper was stolen in the Queens Cove area just after Hurricane Irene, and the spokesperson said: To put it into perspective, were not even using copper. Instead, Grand Bahama Power Com pany is now using aliumiweld. The meter audit was a chance for us to not only check theft from the system,but the integrity of the system. Its internal checks and balances, the spokesperson said. She was responding after PLP candidate for the Marco City seat, Gregory Moss, alleged that the Grand B ahama Power Company had reimbursed key com-m ercial customers, Polymers I nternational Grand Bahama Shipyard and Bahama Rock, more than $5.5 million for overbilling them. M r Moss also raised ques tions over the meter reading exercise, which he said was initiated when, as thenG rand Bahama Chamber of Commerce president, he called for the Government to enforce the Weights & M easures Act. This, he added yesterday, r equired government inspectors to every two months check to make sure con sumers were getting every t hing they paid for from gas stations to retailers. The meter audit, Mr Moss said, was the Power Companys response, and he ques tioned whether the firm cho sen to carry out the initiative w as independent enough from the utility and the Port Authority, having carried outw ork for them before. M eanwhile, acknowledging concerns over the high cost of electricity in Grand Bahama, the power firms spokesperson said utilities and consumers across the world were feeling the effects of rising oil prices. Customers want instant solutions that are not always feasible, the Grand Bahama Power Company spokesperson said. We have to keep making the smart, and right, and responsible decisions to bring the long-term benefits consumers want to see. In the utility business, you have to look 20-30 years down the road, and ensure the decisions you make are the sus tainable ones. Emphasising that Grand Bahama Power Company aimed to get off dependen cy on fuel [oil], the spokesperson said the study it had commissioned on alternative energy options for the island was likely to be completed in a months time. The study will give us the best case options for Grand Bahama, and what these s olutions might look like, they added. We are not barring any o ptions....... Everything is being looked at. Mr Moss, though, had complained that even though G rand Bahama Power Com panys fuel imports were untaxed, residential customers were paying $0.35$ 0.4 per kilowatt hour, com pared to $0.10-$0.12 per kilowatt hour in Florida. In response, Grand B ahama Power Company said: In response to com p arisons between Grand Bahama Power Company and Florida Power & Light (FPLt hat FPL not only has 4.4 million customers in Florida with generation assets in 20 states, but also incorporates the use of nuclear power which is not an option for Grand Bahama Power Comp any. We have, however, r ecently conducted a cost comparison of electric utili-t ies in the Caribbean, which i s an accurate benchmark based on size and geography. Grand Bahama Power Company electricity prices are at t he median or the middle of all these utilities. While admittedly Grand Bahama Power Company d oes not have the lowest electricity costs, we are certainly not the highest. Our team remains focused and w orking diligently on mak ing the responsible and sus t ainable decisions needed to improve reliability and reduce costs to our cus tomers. A nd the utility added: We will continue with our ongoing meter audit pro gram, with industrial customers being audited annu ally, commercial customers on a three-year cycle and r esidential customers on an ongoing basis. BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 7, 2011, PAGE 3B Accounts/Administrator; in Quickbooks. Email to email@example.com LOOKING FOR 127,&( 1HZWRUHKRXUVIRU 67$5'867'58*6 %OXH+LOOG HIIHFWLYH By NATARIO McKENZIE Tribune Business Reporter firstname.lastname@example.org A LEADING scrap metal d ealer told Tribune Business yesterday he believes the Governments proposed legislationfor the industry was needed, adding that legitimate operators h ave had to suffer because of unscrupulous dealers. E verette Rolle, proprietor of Caribbean Recycling and Trading Solution on Joe Farrington Road, told Tribune Business: We needed the regulations; something had to be done. I feelf or those people who had mater ials stolen; I had stuff stolen f rom me as well. This now puts t he industry on even footing. You had some unscrupulous d ealers who brought this on. This is the price of progress. Its necessary; you cant have an industry running rampant. P rime Minister Hubert Ingraham on W ednesday tabled the Pawnbrokers and Secondhand Dealers Bill 2011 in the House of Assembly. The Bill sets out operational guidelines and regulations for pawn brokers, cash for gold operat ors and scrap metal dealers, and comes a mid rising incidents of armed robbery and theft said to be linked to such operations. The Prime Minister said the Bill seeks to address the challenges being experienced as ar esult of the unregulated cash f or gold and scrap metal businesses by providing a regulatory regime to protect legitimate businesses, whilst maintaining safeguards for the public. Mr Rolle said the regulat ions were nothing new for his company. These regulations are nothing new for us; its continuity for us, he explained. The people we sell to a lready make these demands. We meet the standards of US Customs and they have really t ight border control measures in place. Mr Rolle said there were some in the b usiness community who wanted the ban to be extended. There are business per sons who are asking for the Government to extend the ban and thats ridiculous, he added. These guys dont understand t he industry and dont care. If you find an e mployee stealing from you, you dont f ire your entire staff. Why should the entire industry suffer because there are some unscrupulous dealers. You have legitimate businessmen and you have your bad apples. At least 2,000 people are employed in this industry alone. The Government benefitsf rom us cleaning up this country and coll ecting taxes from our businesses. We keep unemployment down by getting some of these people off the street. Mr Rolle said the ban has put many persons out of work. They told us the ban would be for 90 days. They havent came back and said anything else. Theyh ave given us permission to ship our existing material, he added. Everybody had to go to a skeleton crew basically because we had no incomef or eight weeks. It really affected us and we had to put some people on NIB unemployment compensation. R onny Etienne, owner of scrap metal trading firm Ronny's Auto, told Tribune Business yesterday that the 90-day bano n scrap metal exports had seriously impacted his livelihood. The bank is calling me and you know what that means, youre three months behind, he said. I had to send three guys home. I have c ontainers that cant go. That is affecting m e a lot. SCRAP METAL SECTOR ON EVEN FOOTING By NATARIO McKENZIE Tribune Business Reporter email@example.com T he SECURITIES Commissions executive chairman s aid yesterday that it will be developing various rules to g o along with the Securities Commission Act 2011. The regulator has posted a policy paper on physical presence requirements for broker-dealers and securities investment advisors, and said the new legislation requires a number of standards and rules to be formal-l y developed in accordance with the Act. T he Commission said: While the Act outlines some aspects of physical presence requirements for certain categories of licensees, it is silent in other areas and does not define the manner, or provide alternative means, by which these requirements could be achieved. Philip Stubbs, the Commissions chairman, told Trib une Business yesterday: We have some new securities l egislation that has already been passed by Parliament, and before the end of the year we want to bring it into force. But before we bring it into force there are a couple of rules that have to be promulgated. We will be developi ng various rules to go along with the legislation, and one way to get public consultation is by providing these notices to the public and participants in the industry. H e added: We are releasing these white papers, and were giving them an opportunity over a 45-day period to view the draft information. Well get their feedback,a nd at the end of that period we would write the specific rule, which will then after approval by the Ministry of Finance be gazetted to go along with the legislation. We already have a practice guide now with regard to p hysical presence, where certain licensees may be given permission to operate in the Bahamas where they have a representative, and so those rules relate to how you h ave a physical presence in the Bahamas. The draft white paper itself is on the Commissions website. REGULATOR UNVEILS ADDITIONAL RULES Shar e your news T he Tribune wants to hear f rom people who are m aking news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning f or improvements in the area or have won an award. If so, call us on 322-1986a nd share your story. PRIME MINISTER Hubert Ingraham on Wednesday tabled theP awnbrokers and Secondhand Dealers Bill 2011. UTILITY BRACES FOR $250K-PLUS HIT VIA COPPER THEFT FROM page one
seasonality and Hurricane Irene. September may give us a better indicator, because the economy continues to be weak. Noting that the percentage o f commercial bank loans in arrears, as a percentage of the total portfolio, had increased from 18.6 per cent in July 2011 to 20.2 per cent at end-August, Mr Jennings emphasised: The real thing is to see Septembers numbers, and whether its seasonal or a trend. For August, short-term delinquencies 31-90 days past due increased by $67.3 million or 13.7 per cent to $557.6 million, creating a 1.1 percentage point hike in their arrears ratio to 9 per cent. The fact that the majority of the increase in commercial bank loan arrears was in the 31-90 day category appears to bear out industry suspicions that the growth is seasonal. Non-performing loans, which are at least 90 days past due and upon which the banks have stopped accruing interest, rose by $20.5 million or 3.1 per cent during August to $692.5 mil lion. They now stand, as a per centage of the total $6 billionplus bank credit portfolio, at 11.2 per cent. By major loan categories, the expansion in private sector arrears was led by a $42.6 million (6.8 per cent mortgage delinquencies to $666.6 million, with arrears in the short-term and non-performing segments growing by $35 million (11.8 per cent $7.7 million (2.3 per cent respectively, the Central Bank of the Bahamas report on monthly economic and financial developments for August read. Some $3.108 billion in mortgage loans remain out standing. Mr Jennings, though, said that because the banks are not in the property business, they preferred to try and work things out with the existing borrower, rather than either repossess a home under power or mortgage or go the foreclo sure route. The seven and eight-page advertisements being run in the newspapers by the likes of FIN CO and other major mortgage lenders also indicate the extent of the difficulties they are facing in finding new buyers for repos sessed properties in a depressed economy where unemployment remains high. While commercial banks usually, in the first instance, sought to obtain the consent of delinquent borrowers to sell their homes to repay the debt, Mr Jennings added: It doesnt help the banks to have huge numbers if properties on their books. The market is pretty soft. You could say New Providence is weak, but Grand Bahama is very stagnant. Mr Jennings, who is also Commonwealth Banks managing director, said there had been a little pick up in the Bahamian economy when the Baha Mar project was unveiled earlier this year, but it remained slow. Weve got to see the econo my and employment pick up, he added, telling Tribune Busi ness that when this would occur required looking into my crystal ball. We started the year saying recovery would be later this year, but the US has still not picked up in employment, tourism is still cruise passengers rather than stopovers, although Atlantis reported an increase in group business. Its still going to be a long, hard haul, Mr Jennings told Tribune Business. Theres no impact project thats going to yield any significant increase in jobs in the short-term. Barring a real turn in the US economy to pick up tourism, thats really what were looking at. Analysing the banking indus trys outlook, Mr Jennings said: The trends have been there long-term. Were all paying very close attention to it, looking at the quality of new credit and trying to manage the books as best we can. The banks have re-posi tioned themselves to look at what credits theyre writing, identify sectors not carrying the burden of delinquencies. The challenge is for those businesses who have delin quencies, and the banks are not supporting them and they go under, you create more unem ployment. The CBA head added: together when it came to regulation of the power company. Mr Moss, the PLPs candidate for the Marco City seat, in an October 5, 2011, open letter to Grand Bahama Power Company chief executive and president, Sarah MacDonald, named Polymers International, Bahama Rock, the Pelican Bay resort and Grand Bahama Shipyard as being among the commercial clients reimbursed for overbilling. Suggesting that the overbilling had been taking place over a seven-year period, Mr Moss said: I am advised that the Grand Bahama Power Company has written to certain of its commercial and industrial customers to advise them that it has discovered that, since 2004, it has been charging those customers at double the appropriate multiplier rate, and that its meters were not working properly, resulting in an overall overbilling to those customers. I am informed that as a result of such overbilling you have made reimbursements to certain commercial and industrial customers in a sum well in excess of $5.5 million, including, but not limited to, payments to Polymers International, Bahama Rock, Pelican Bay Hotel and the Grand Bahama Shipyard. A Grand Bahama Power Company spokesperson yesterday told Tribune Business the $5.5 million sum quoted by Mr Moss was grossly exaggerated. While five clients were reimbursed for overbilling, their circumstances were all said to differ, and the problems were discovered during the utilitys own meter audit initiative (see other Story on Page 1B). Still, Mr Moss, in an interview with this newspaper, said the onus was on Grand Bahama Power Company to properly address the issue. The Power Company cant deny it, he added of his allegations. If they deny it, I will go back to the individuals concerned to ask that they release the documents. The former Chamber chief added that complaining about the Grand Bahama Power Company to the Nassau-based Utilities Regulation & Competition Authority (URCA the campaign led by attorney Osman Johnson and activist Troy Garvey planned to do, would be to little avail. This was because regulatory authority for all Freeport-based utilities lay with the GBPA, and any attempt to devolve this could well amount to a breach of the Hawksbill Creek Agreement that provided the foundation for Freeports creation. They have their challenges, Mr Moss said of Grand Bahama Power Company. I just wish they would go public and deal with it...... Theres no transparency, theres no sense of regulatory oversight with that company, and therefore one just doesnt know. Clearly, this is an issue where there should be full and frank disclosure to the public on the overbilling of commercial and residential customers. Calling for an open process to some transparency and oversight, which would give Grand Bahama residents the truth, not a technical explanation for something that had gone wrong, Mr Moss said uppermost among his questions was whether residential consumers had been overbilled, too. As for calls to place the Grand Bahama Power Company under URCAs regulation, the Marco City candidate added: It makes no difference. URCA has no regulatory authority for utilities [in Freeport]. You can make whatever representations to URCA that you want; it will lead to nowhere. Were a country based on the rule of law. The regulatory authority is clearly vested in the Port Authority, and one cannot take that away without taking away its property rights and breaching the Hawksbill Creek Agreement. And, if the Port Authority did approve of it, it would need the consent of 80 per cent of its licensees. However, Mr Moss said there appeared to be a middle ground, suggesting that the GBPA could engage an outside agency, such as URCA, to help it discharge its regulatory responsibilities. The only credible, viable option is one of two things, Mr Moss suggested. Either the Port gets its act together and creates a proper regulatory authority, or get a regulatory agency engaged to discharge that function on its behalf. Mr Moss questioned how overcharged customers were going to be repaid, and whether that would impact Grand Bahama Power Companys cash flow to such an extent that it would need to increase rates levied on residential customers. He also queried if funds would need to be injected by its 80 per cent majority shareholder, Emera, and the steps taken by the Grand Bahama Power Company to ensure the overbilling did not happen again. As for the impact high energy costs were having on Grand Bahama, Mr Moss, in his letter to Mrs MacDonald, said that even though Grand Bahama Power Companys fuel imports were untaxed, residential customers were paying $0.35-$0.4 per kilowatt hour, compared to $0.10-$0.12 per kilowatt hour in Florida. That discrepancy is unsustainable, as it is a major drain on household incomes and a major impediment to business development in Grand Bahama, he wrote. The most glaring example, Mr Moss told Tribune Business yesterday, was the departure oft he glass manufacturer, Fenestration, which found it was c heaper to operate its own generator than to use Grand Bahama Power Companys electricity. They said this is too much hassle. This country is not organised to do business, Mr Moss said. They simply left. Another visible example was the fact Freeport had the largest harbour in the Western Hemisphere outside the US naval base at Norfolk, yet the land there was almost vacant with manufacturing/industrial activity there and at the Sea Air Business Centre non-existent. Apart from deterring potential investors, especially in the commercial and industrial sector, Mr Moss said high electricity costs had created a vicious circle, further reducing disposable incomes on an island already plagued by high unemployment and declining spending power. Its untenable; we cannot continue down this path, Mr Moss said. He added that while starting to campaign in Marco City, he was surprised in the beginning to see what were deserted houses. On closer inspection, the homes were inhabited the residents had just turned off all the lights to avoid high energy costs. Lights were turned on when he met them, but turned off again after he left, Mr Moss saying that for many Grand Bahamians, their electricity bill was like a second mortgage. He added that Grand Bahama Power Company executives had told him during a March 2011 meeting they were working to stabilise electricity costs, but this means nothing, as it did not address reducinge nergy prices of regulatory oversight. A nd, given the short-term reliance on rental generators, Mr Moss said: It would appear that the revenue of the Power Company has not been invested in infrastructure for decades. BUSINESS PAGE 4B, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE $3'/,0,7('(PSOR\PHQWSSRUWXQLW\ *DWH,QWHUFKDQJH,QVSHFWRUV FROM page one UNTENABLE GB POWER WOES FROM page one B AD LOANS SPIKE $88M IN AUGUST SEE page 5B
NEW YORK Associated Press SEPTEMBERoffered the latest sign that Americans wills hop, but only when they think they're getting a deal. The International Council of Shopping Centers said Thursday that revenue rose 5.5 percent in September, with several retailers including Tar-g et, Limited Brands and Kohl's posting strong gains as consumers snagged discounted merchandise. The revenue increases, which beat Wall Street estim ates, leave uncertainty about whether retailers will have to offer more bargains to lurec onsumers to buy during the winter holiday shopping season. Retailers can make up to4 0 percent of their revenue during the period, which runs from November through D ecember. This past month shows consumers are rewarding retailers who are matchingg reat merchandise with great deals a clear signal to expect more and earlier promotionsa s we enter the holiday season, said Sherif Mityas, a p artner in the retail practice at A.T. Kearney, a global management consulting firm. The revenue gains at stores open at least a year a keyi ndicator of a retailer's health come as merchants look for a sign of how consumers will spend during the winter holiday season. Though many retailers reported better-thanexpected results in Septemb er, concerns linger that shoppers who are fretting about h igh unemployment, a weak h ousing market and turbulent stock markets, will continue to seek out bargains that could significantly eat away at retaile rs' profits. F or the holiday shopping period, The National Retail Federation, the nation's largest retail trade group, expects sales to rise 2.8 perc ent to $465.6 billion. That would be smaller than the 5.2 p ercent increase during last y ear's winter holidays, but slightly higher than the average increase of 2.6 percent for November and December o ver the past 10 years. I f September is any indication of what lies ahead for the w inter holidays, though, retailers will likely have to offer a s morgasbord of deals in order to get Americans to buy. During the month, shoppers for the most part stuck to the fru g al shopping habits they adopted during the Great Recession. And retailers offered huge discounts: The G ap chain cut the price of women's pants from 40 percent to 60 percent, for examp le, while teen retailer Aber crombie & Fitch marked down sweat pants by 40 per c ent. Kohl's Corp., which suffered a sales decline in August, bounced back with ab etter-than-expected 4.1 per cent gain in revenue at stores opened at least a year, in part b ecause it stepped up dis counting to lure shoppers. The mid-brow department store also credited the sales bounce i n part to its merchandising l aunch with celebrities Jennifer Lopez and Marc Anthony, the largest in its history. Meanwhile, cheap chic discounter Target Corp. reported a 5.3 percent revenue increase in September at stores open a t least a year, marking the b iggest increase monthly excluding Easter month since November 2007 when it recorded a 10.8 percent gain. T arget said shoppers spent m ore in stores and more browsers were converted into b uyers. Results were buoyed by s trong sales of groceries, beau ty products and clothing. But Target also likely benefited from a surge in sales from itse xclusive limited-time only Missoni by Target line of clothing, home furnishings and other doodads made by Italian d esigner Missoni. The exclu sive version featured a variety of items from stationery t o clothing and furniture at a fraction of the price of the original collection. We experienced strong sales results throughout the month and across a broad array of merchandise cate g ories," said Gregg Steinhafel, Target's CEO, in a statement. Limited Brands Inc. said r evenue at stores open at least a year rose 11 percent in Sep tember, due to strength at its Victoria's Secret and Bath and B ody Works mall stores. BUSINESS PAGE 6B, FRIDAY, OCTOBER 7, 2011 THE TRIBUNE &20021:($/ 1 7+((0(&285 (48,7<,'( % ( 7 : ( ( 1 ,1+($77(52)+(,(7,1*,7/(6$&7 $ 1' ,1+($77(5 RIWKHHWLWLRQRI /($021''(/(9($8; RI 0LOOHUV+HLJKWVLQWKH,VODQGRIHZURYLGHQFHRQHRIWKH ,VODQGVRIWKH&RPPRQZHDOWKRIKH%DKDPDV 127,&( 7+((7,7,21)/($021''(/(9($8;,1(63(&7) $//7+$7 SLHFHSDUFHORUORWRIODQGEHLQJORWQXPEHU1LQHLQ %ORFN1XPEHURIWKHVDLG6XEGLYLVLRQFDOOHGDQGNQRZQDV LOODU+HLJKWVVLWXDWHLQWKH:HVWHU'LVWULFWRIWKHVDLG,VODQG RI1HZ3URYLGHQFHZKLFKVDLGSLHFHSDUFHORUORWRIODQGLVERXQGHG 1257+:$5'/ORORW1XPEHU6HYHQLQ%ORFN1XPEHU7ZHOYH RIWKHVDLG6XEGLYLVLRQDQGUXQQLQJWKHUHRQ1LQHW\QLQHDQG (LJKW\YHKXQGUHGWKVIHHW($67:$5'//RW1XPEHU 7HQLQ%ORFN1XPEHU7ZHOYHLQWKHVDLG6XEGLYLVLRQQRZ RUIRUPHUO\WKHSURSHUW\9LROD)HDUHVW6WXEEVDQGUXQQLQJWKHUHRQ 6HYHQW\YHIHHW6287+:$5'//RW1XPEHU(OHYHQ LQ%ORFN7ZHOYHRIWKHVDLG6XEGLYLVLRQQRZRUIRUPHUO\WKH SURSHUW\RI(OFRWW-DFNVRQDQGUXQQLQJWKHUHRQ1LQHW\QLQHDQG (LJKW\YHKXQGUHGWKVIHHWDQG:(67:$5'/:HVW $YHQXHDQGUXQQLQJWKHU /($021''(/(9($8; FODLPVWREHWKHRZQHULQIHHVLPSOHLQ SRVVHVVLRQRIWKHVDLGODQGDQGKDVPDGHDSSOLFDWLRQRIWKH6XSUHPH &RXUWRIWKH&RPPRQZHDOWKRI7KH%DKDPDV8QGHU6HFWLRQRIWKH 4XLHWLQJ7LWOHWRKDYHKLVWLOHWRWKHVDLGODQGLQYHVWLJDWHG DQGWKHQDWXUDQGH[WHQWWKHUHRIGHWHUPLQHGDQGGHFODUHGLQ &HUWLFDWHRI7LWOHWREHJUDQWHGWKH&RXUWLQDFFRUGDQFHZLWKWKH SURYLVLRQRIWKHVDLGSODQRIWKHVDLGODQGPD\EHLQVSHFWHG GXULQJQRUPDOZRUNLQJKRXUVDW 7KH5HJLVWU\RIWKH6XSUHPH&RXUW1HZ3URYLGHQFHLQ WKH&RPPRQZHDOWKRI7KH%DKDPDVDQGWKH&KDPEHUV RI9$OIUHG*UD\&RPSDQ\%D\6WUHHWDQG9LFWRULD $YHQXHHZURYLGHQFH 127,&(,6+(5(%<*,9(1 WKDWDQ\SHUVRQRUSHUVRQVKDYLQJ GRZHURUULJKWRIGRZHURUDQ$GYHUVH&ODLPRU&ODLPQRWUHFRJQL]HG LQWKH3HWLWLRQVKDOORQRUEHIRUWKH WK GD\RI1RYHPEHU LQWKH6XSUHPH&RXUWLQ1HZ3URYLGHQFHDIRUHVDLGDQG VHUYHRQWKH3HWLWLRQHURUWKHXQGHUVLJQHG6WDWHPHQWRIWKHLUFODLP DIRUHVDLGRQRUEHIRUWKH WK GD\RI1RYHPEHURULWZLOO RSHUDWHDVDEDUWRVXFKFODLP 9$/)5('*5$ &KDPEHUVXLWH 7KHDOFROP%XLOGLQJ LFWRULD$YHQXH 1DVVDXKH%DKDPDV $WWRUQH\IRUWKHHWLWLRQHU Legal NoticeNOTICEPOLARIS INVESTMENT FUND LTD.IN VOLUNTARY LIQUIDATION Notice is hereby given that in accordance with section 137 of the International Business Companies Act 2000 POLARIS INVESTMENT FUND LTD. is in dissolution. The Date of the Completion of dissolution was 19th September 2011. David Thain of Arner Bank & Trust (Bahamas2 Caves Village, P.O. Box N-3917 is the Liquidator of POLARIS INVESTMENTFUND LTD. All persons having claims the above-named company are required to send their address and particulars of their debts to the Liquidator before the 19th October, 2011. David Thain Liquidator ,17(51$7,21$/%86,1(66&203$1,(6$&7 $92&(7/,0,7(' ,QROXQWDU\OLTXLGDWLRQ RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH ZLWKHFWLRQfRIWKH,QWHUQDWLRQDO $92&(7/,0,7(' LVLQ'LVVROXWLRQ 7KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQ WK 5REHUWKLOLSXUFRXI (OL]DEHWK+RXVH &DVWOHWUHHW 6W+HOLHU-HUVH\ /LTXLGDWRU N O T I C ECHALLENGER ASSETS LIMITEDN O T I C E IS HEREBY GIVEN as follows: (aASSETS LIMITED is in voluntary dissolution under the provisions of Section 137 (4 Business Companies Act 2000. (bThe dissolution of the said company commenced on the 04th October, 2011 when the Articles of Dissolution were submitted to and registered by the Registrar General. (cThe Liquidator of the said company is Tang Yang Ping of c/o 1 Rafes Link #05-02 Singapore 039393. Dated this 07th day of October, A. D. 2011 _________________________________ Tang Yang Ping Liquidator N O T I C EC EDARAN HOLDINGS LIMITEDN O T I C E IS HEREBY GIVEN as follows: (a voluntary dissolution under the provisions of Section 137 (4 Business Companies Act 2000. ( b) The dissolution of the said company commenced on the 04th October, 2011 when the Articles of Dissolution were submitted to and registered by the Registrar General. (cThe Liquidator of the said company is Tang Yang Ping of c/o 1 Rafes Link #05-02 Singapore 039393. Dated this 07th day of October, A. D. 2011 _________________________________ Tang Yang Ping Liquidator 127,&( ,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW *7 5HJLVWUDWLRQXPEHU% 9ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK 6HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW RU *7,QF FRPPHQFHGYROXQWDU\OLTXLGDWLRQ RQFWREHU $Q\SHUVRQKDYLQJDQ\FODLPDJDLQVW *7,QF LV U HTXLUHGRQRUEHIRUHWKHGD\RI1RYHPEHUWRVHQG WKHLUQDPHDGGUHVVDQGSDUWLFXODUVRIWKHGHEWRUFODLPWRWKH /LTXLGDWRURIWKHFRPSDQ\RULQGHIDXOWWKHUHRIWKH\PD\KDYH H[FOXGHGIURPWKHEHQHWRIDQ\GLVWULEXWLRQPDGHEHIRUHVXFK FODLPLVDSSURYHG *62&RUSRUDWH6HUYLFHVRI6KLUOH\6WUHHW 1DVVDX7KH%DKDPDVLVWKH/LTXLGDWRURI *7 *62&RUSRUDWHHUYLFHV/WG /LTXLGDWRU NEW YORK A ssociated Press T otal U.S. money market mutual fund assets rose $4.87 billion to $2.639 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday. Assets of the nation's retail money market mutual f unds rose $5.73 billion to $942 billion, the Washingtonb ased mutual fund trade group said. Assets of taxable money market funds in the retail category rose $3.86 billion to $748.84 billion. Tax-exempt retail fund assets rose $1.88 billion to $193.16 billion. Meanwhile, assets of institutional money market funds fell $860 million to $1.697 trillion. Among institutional funds, taxable money market fund assets fell $2.2 b illion to $1.600 trillion; assets of tax-exempt funds rose $ 1.34 billion to $97.68 billion. The seven-day average yield on money market mutual funds was 0.02 percent in the week that ended Tuesday, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro ugh, Mass. The 30-day average yield was also u nchanged at 0.02 percent. T he seven-day compounded yield was flat at 0.02 perc ent, as was the 30-day compounded yield at 0.02 perc ent, Money Fund Report said. T he average maturity of the portfolios held by money market mutual funds rose to 40 days from 39 days last week. The online service Bankrate.com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on m oney market accounts was at 0.15 percent in the week that ended Wednesday, unchanged from the previous week. T he North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on intere st-bearing checking was 0.07 percent, up from 0.06 percent the week before. Bankrate.com said the annual percentage yield on sixm onth certificates of deposit fell to 0.23 percent from 0.24 percent last week. Yields fell to 0.37 percent from 0 .38 percent on one-year CDs, down to 0.58 percent from 0.59 percent on 2 1/2-year CDs; and down to 1.22 percent from 1.26 percent on five-year CDs. MONEY FUND ASSETS RISE TO $2.639 TRILLION RETAILERS REPORT SOLID GAINS FOR SEPTEMBER I N THIS PHOTO t aken Sept, 29, 2011, Betsy Santiago prepares to place her purchased goods in her van in Hialeah, Fla. Americans shopped in September, but only when they thought they were getting a deal. (AP
N EW YORK Associated Press THE DOW JONES i ndustrial average jumped 183 points Thursday after the European Central Bank moved to supportt hat region's lenders and U.S. retailers reported stronger September sales. I t was the third straight d ay of gains. The Dow has soared 468 points since Tuesday, or 4.4 percent. The European Central B ank promised to provide unlimited one-year loans to the region's lenderst hrough 2013. The goal is to shield banks from poor ly functioning short-term credit markets, in which banks are becoming too worried about each other's financial stability to lend money to one another. Germany's DAX jumped 3.2 percent, and France's CAC-40 rose 3.4 percent. The loans are also meant to help protect the banks in the event Greece's government defaults on its debt. If that happens the value of Greek bonds held by those banks would be likely to drop sharply, weakening the banks' balance sheets and making it harder for them to lend. The European Central Bank disappointed some investors by announcing that it would keep interest rates unchanged. Analysts were hoping the bank would cut rates to encourage lending and give a boost to Europe's sagginge conomy. T arget Corp., Nordstrom Inc., Macy's Inc. and other U.S. retailers reporteds ales that beat Wall Street's expectations. While some of the sales were driven by deep dis-c ounts, analysts said the higher sales suggested the U.S. economy was not in another recession. Spending "The market has been pricing in an out-and-out recession, but the fact that consumer spending is hold ing up shows that we're more likely to continue m uddling through at a 1 to 2 percent growth rate," said Brian Gendreau, mar ket strategist at Cetera Financial Group. The Dow Jones industrial average jumped 183.38 points, or 1.7 percent, to 11,123.33. It was the first time the Dow rose by more than 100 points for three straight days since a three-day rally that began Aug. 11 and ended with a 763-point gain. It was the 9th straight day the Dow closed up or down more than 100 points, the longest such streak since November 2008, in the middle of the financial crisis. Markets have been extraordinarily volatile as investors react to the latest headlines outo f Europe. T he S&P 500 rose 20.94, or 1.8 percent, to 1,164.97. The Nasdaq compositer ose 46.31, or 1.9 percent, to 2,506.82. Banks in Europe and the U.S. rallied. U.S. banks tocks rose sharply after Treasury Secretary Timothy Geithner told a Congressional panel that U.S.f inancial firms had a "very modest" exposure to Europe's debt problems.B ank of America Corp. j umped 8.9 percent to $6.28, the biggest gain among the 30 stocks in theD ow. M organ Stanley rose 4.8 percent to $15.18. The Labor Department said the number of appli cations for unemployment benefits rose slightly last month to 401,000. While that is a signal that the job market continues to be weak, the increase was slightly less than what Wall Street economists had pre dicted, a signs that layoffs are easing. Unemployment benefits typically need to fall below 375,000 to sig-n al job growth. T he hopeful signs on the U.S. economy led investors to pull money out of low-e r-risk assets. Yields That pushed yields high er on U.S. government d ebt as investors sold Treasurys. The yield on the 10-year Treasury note rose to 1.99 percent from1 .90 percent late Wednes day. Corning Inc. rose 7.1 percent to $13.50 after it said it would increase its dividend and buy back shares. Apple Inc. lost 0.2 p ercent to $377.37 in choppy trading after company co-founder and former CEO Steve Jobs died Wednesday. Several analysts and large investors said they believe the company would continue to grow under new CEO Tim Cook. BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 7, 2011, PAGE 7B 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.191.190.000.1480.0808.06.72% 10.639.05Bahamas Property Fund10.6310.630.00-0.6420.080-16.6 0.75% 7.504.40Bank of Bahamas6.936.930.000.2300.10030.11.44% 0.530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2.842.55Bahamas Waste2.702.700.000.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.108.29Cable Bahamas8.478.470.003000.2450.32034.63.78% 2.802.33Colina Holdings2.602.600.000.4380.0405.91.54% 8.508.33Commonwealth Brewery8.508.500.000.7400.00011.50.00% 7.006.21Commonwealth Bank (S1 6.656.650.005500.4960.32013.44.81% 2.001.63Consolidated Water BDRs1.741.740.000.1110.04515.72.59% 1.771.31Doctor's Hospital1.371.370.000.0740.04018.52.92% 5.504.75Famguard5.435.430.000.4980.24010.94.42% 8.405.35Finco5.395.390.000.7570.0007.10.00% 9.457.75FirstCaribbean Bank8.218.210.000.4940.35016.64.26% 6.005.00Focol (S 5.335.330.000.4350.22012.34.13% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.58ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00BISX LISTED & TRADED SECURITIES AS OF:7% Interest 19 October 2022 Prime + 1.75% Prime + 1.75% 6.95%T HURSDAY, 6 OCTOBER 2011BISX ALL SHARE INDEX: CLOSE 1,376.77 | CHG 0.00 | %CHG 0.00 | YTD -122.74 | YTD % -8.19BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 W W W.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%L ast 12 Months %NAV 3MTH 1.57791.4674CFAL Bond Fund1.5779263.39%5.87%1.548717 3.02482.9020CFAL MSI Preferred Fund3.02482.63%3.94%2.981382 1.61281.5289CFAL Money Market Fund1.61512.61%4.53%1.591803 2.72022.5398Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.849313.2291Royal Fidelity Prime Income Fund13.73472.82%1.94% 114.128999.4177CFAL Global Bond Fund114.09222.35%13.88%114.128861 118.4255101.6693CFAL Global Equity Fund118.42552.30%8.26%116.580785 1.17491.0000FG Financial Preferred Income Fund1.18353.32%4.99% 1.13431.0000FG Financial Growth Fund1.14202.10%4.31% 1.17641.0000FG Financial Diversified Fund1.18543.16%5.14% 9.9952 9.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.49859.8690Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.96520.78%5.70% 10.68139.7396Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.60135.75%13.20% 8.85647.8830Royal Fidelity Int'l Fund Equities Sub Fund8.65073.01%18.38% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/2007NAV Date 31-May-11 31-Aug-11BISX Listed Mutual Funds30-Jun-11 31-Aug-11 NAV 6MTH 1.535365 2.952663 1.580804 111.469744 115.762221TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-11 30-Jun-11 31-Jul-11 5-Aug-11 30-Jun-11MARKET TERMS31-Aug-11 31-Jul-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. 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Hopes that Europe is preparing a big plan to shore up its banks gave stocks around the world another lift Thursday, Oct. 6, 2 011, ahead of keenly-awaited policy decisions from the Europ ean Central Bank and the Bank of England. Richard Drew /AP STOCKS RISE ON HELP FOR EUROPEAN BANKS DOWJONESINDUSTRIALAVERAGEJUMPS 183 POINTS
T he bodybuilding community is mourning the death of Bahamas Bodybuilding and Fitness Federation founder. K nown as the godfather of b odybuilding, Wong died around 5:50am Wednesday at his home after a long illness that left him bed ridden over the past two years. At age 84, he leaves behind his wife Lilla ands even children Andrew, Peter, P aul, Dereck, Gary, Rodney and Linda Lightbourn. Wong can be described as a very unique Bahamian. He was a great m an because he was humble and was p erhaps one of the most respected businessmen in the country. Born in Nassau on October 4, 1928, to the late Rhonda Miller, a native of Cat Island and the late Panz a Wong of China, Wong started lifting weights with Cyril Smith in 1945. In 1950, he participated in the first Mr Bahamas, placing second. A decade later, he established the federation and served as president from 1960 to 1981. In 1962, Wong got the Bahamas membership in the nowp restigious International Federation of Bodybuilders (IFBB when only seven other countries were affiliated. Today, there are s ome 180 countries affiliated with the IFBB. During his presidency, Wong traveled to the IFBB Congress and voted on many of the milestones made b y the IFBB. He later served as the honorary president of the BBF. Additionally, Wong headed Nassaus most well-known printing establishment Wongs Rubber Stamp & Printing Company Limited on Chesapeake Road. He also owned a small resort on ParadiseI sland. And for 35 years, he participated in a number of civic and community services such as the Prison Fellowship, Simpson Penn Centre f or Boys, Billy Graham Ministries, Full Gospel Businessmen International, the Bahamas Disable Association, the Chinese Community Association of the Bahamas, Faith T emple Usher Board, Great Commission, Bahamas Red Cross, Faith Temple Mens Fellowship and the AIDS Camp. Through all of his achievements and his contributions, Wong credited it to his faith and belief in the Lord. He gave his life to the Lord atF aith Temple Church of God on June 12, 1971. He served at St Anselms Church up to the time of his death. THETRIBUNE SECTIONEFRIDAY, OCTOBER 7, 2011 INSIDE TRAK T T U U R R N N T T O O 2 2 E E . . . T T U U R R N N T T O O 5 5 E E . . T T U U R R N N T T O O 7 7 E E . . . 2ND ANNUAL FLAG FOOTBALL INVITATIONAL SET FOR THE HOLIDAY WEEKEND RUGBY WORLD CUP: FRANCE NEEDS MORE AGGRESSION, SAYS COACH NFL ACTION: DOLPHINS QB HENNE OUT FOR THE SEASON WITH INJURY TENNIS: NADAL, FERRER ADV ANCE TO JAPAN OPEN QUARTERS WNBA FINALS: LYNX T AKE THE VICTORY IN GAME 2 T T U U R R N N T T O O 8 8 E E . T T U U R R N N T T O O 4 4 E E . . . BODYBUILDING COMMUNITY MOURNING BBF FOUNDERS DEATH By RENALDO DORSETT Sports Reporter firstname.lastname@example.org THE Bahamas Olympic Commit tee continues its eventful 2011 campaign as it prepares to field a team for competition in the second largest multi-sport event after the Summer Olympics. Yesterday, the BOC announced the 23-member team distributed over five disciplines to participate in the 16th Pan American Games October 14-30 in Guadalajara, Mex ico. The Bahamas will field teams in athletics (13six bowling (oneone ing (one I believe our athletes are going to go out there and perform very well. We look forward to a great perfor mance from that time. We are a little behind on some things because this is the beginning of the school year and, as you know, many of the athletes have shut their season down, but with the ones that were able to we are happy that they were able to put themselves forward to represent the Bahamas at these games even though their season is over and even though the school year has just begun, said BOC president Wellington Miller. We look forward to great things and the Bahamas will be well represented at this years Pan Am Games. In the history of the Pan Am Games, the Bahamas is 17th on the all-time medals list with 28 medals won since its first appearance at the event in 1955. Chef de mission Don Cornish said the teams numbers were less than anticipated due to a myriad of rea sons, including scheduling conflicts and issues with qualification. We do have a smaller team this year. Our team will only include 13 athletics competitors which is a very small team considering the impor tance of the Pan Am Games in terms of qualifications for some per sons. The reason why swimmings numbers came down is because we had some issues with the quotas for the overall numbers for the Pan Am Games and, up until this week, we were still confirming qualifications. One of the issues was that the A-standard and Bstandard were not being fully adhered to because they were also looking at placement in terms of time qualifications for Its official: BOC announces team for Pan Am Games B y BRENT STUBBS S enior Sports Reporter b email@example.com A LMOST a week since her home invasion and the removal of three of her precious international track andf ield medals, IAAF council woman P auline Davis-Thompson said shes overwhelmed by the support she has been receiving from the Bahamian public. The police came to me this morn ing and they have indicated that they g ot the word from up high to make sure that my home is safe, so Im grateful for that, said Davis-Thomp s on in the aftermath of Fridays break-in of her home on the western end of the island. A much calmer but still emotional D avis-Thompson said the Bahamian people have been very gracious to her since her ordeal took nationals potlight. Ive been getting a lot of hugs and apologies from the Bahamianp eople, she said. So Im very encouraged, although Im still disappointed that the thieves took my medals. S tolen during the rampage of her home was her silver medal won at the 1996 Olympic Games in Atlanta, Georgia, as a member of the womens 4 x 100 metre relay team and gold as a member of the relay team at the 1999 World Championships i n Seville, Spain. Also, her Order of Merit award from the Bahamas Government, herO fficer of British Empire (OBE award and her medal as a member of the Central American and Caribbean (CAC At the welcome-home reception for IAAF World Championships high jump bronze medallist Trevor Barry at the Lynden Pindling InterGolden girl Pauline: Im still disappointed that the thieves took my medals By BRENT STUBBS Senior Sports Reporter b firstname.lastname@example.org AFTER an extensive European tour since winning a bronze medal int he mens high jump at the IAAF World Championships in Daegu, South Korea, Trevor Barry is back h ome. The only Bahamian to secure a medal at last months championships was greeted by a number of dignit aries at the Lynden Pindling Inter national Airport yesterday. He also shared the special moment with his parents, Queenie and Charles Barry. I am so happy for him because I know his desire, said his proud mother. Im so happy that he has achieved this because it will only help him to achieve even greater things. W hile Barry is expected to make a courtesy call on Prime Minister Hubert Ingraham at noon today and be treated to a cocktail reception atT homas A Robinson Track and Field Stadium 6:30pm Monday, his mother said her son has opted not to h ave any lavish family celebrations. His father said his sons perfor mance was a stellar one that they w ill cherish whether its a huge celeb ration or a low-keyed one. I knew that he could do it and I always told Trevor that persevera nce is the key, he said. God will never fail. I always told him that if others can do it, he can do it too.W e are very proud of him. Minister of Youth, Sports and Culture Charles Maynard was elated to be included in the welcome home party for Barry. For the Bahamas, this track and field season has been a tremendous Worlds bronze medallist Trevor Barry welcomed home S S E E E E p p a a g g e e 2 2 E E S S E E E E p p a a g g e e 2 2 E E S S E E E E p p a a g g e e 2 2 E E Comets knock off Stars 15-4 BATTER UP: A Queens College Comet at bat during Bahamas Association of Independent Secondary School senior girls softball action yesterday. The Comets got the victory over the Bahamas Academy Stars 15-4. In junior boys action, Queens College beat Aquinas 15-2. Photo by Clint Higgs
SPORTS PAGE 2E, FRIDAY, OCTOBER 7, 2011 TRIBUNE SPORTS FLAG FOOTBALL ARGUABLY the most exciting and rapidly growing sport in the Bahamas is about to explode oncea gain. T he Bahamas Flag Football L eague (BFFL plans to host its second annual invitational flag football tournament this upcoming holiday weekend October 14-16 at the Roscoe Davies Soc-c er Field in Baillou Hills. A total of 13 teams are expected t o compete over three days for the prestigious title eight mens teams and five womens teams from New Providence, Freeport and the Cay-man Islands. B FFL director Jayson Clarke e xpressed his excitement over the event. Were expecting a really good display of competition while building s tronger ties and relationships with o ther leagues that compete in the sport of flag football. We are thrilled to see Freeport r eturn to the event again this year and proud to announce that teams representing both Cayman leaguesa re coming all the way to Nassau to p articipate. Since our inaugural season in 2009, the BFFL and the sport itself h ave grown significantly. Weve had three intense local seasons, tournaments both here and in Freeport as well as teams travelling to the Cayman Islands to compete in theirr egional tourney. C larke also expects strong supp ort from the local community building on the success of last years event and is hoping to see solid representation from the fans to support the New Providence teams. H e indicated that of the four New P rovidence teams, the last three c hampionship teams the Ravens, RBC Lions and Heineken Spartans respectively are confirmed to compete. The fourth team, the Go Green P redators, are the runners-up in this y ears title game and they are hungry for a major win. Last year, the Freeport All-Stars won the title on a thrilling last seco nd touchdown to take the trophy to t he nations second city. This year, the top three teams representing the BAFF return with thet rophy in their hands and a target on their backs. We are in the final planning s tages and, with the support of a n umber of corporate sponsors, we are really looking forward to some good competition and friendly envir onment over the long holiday weekend, Clarke said. Annual invitational set for holiday weekend A BOVE: T he Go Green Predators face off against the Heineken Spartans. T OP: T he Ravens take on the RBC Lions. It s official: BOC announces 23-member team for Pan Am Games the larger countries and the numbers that they were allot ted so it left a very small num ber of spaces available to the other countries. As a result of that, our sec retary general on our behalf made a petition to FINA seeking their intervention andwe were fortunate that PASO was able to broker an arrangement where we had14 additional names added and one of whom was Alicia Lightbourne. So we will have enough swimmers to make sure we have a relay team andthat will provide a stronger team that we would have had, he said. As far as tennis is con cerned, unfortunately we were only able to qualify one tennis player even though we had entered six and that is something we have to work on. Bowling got a wild card, because they would not have ordinarily qualified but that wild card was extended to two female bowlers. Cornish also discussed the struggle of the Bahamas and many countries to field teams of their top athletes. We had some challenges getting athletes who are com peting at this time of year because the World Championships come so close to the Pan Am Games and on the verge of the Olympic Games, most of the athletes would have competed at the World Champs and qualified for the Olympics in London 2012. The incentives are not as high. There are no appearance fees for the Pan Am Games so truthfully that is going to influence the interest and also the fact that it is being hosted at a time when the collegiate athletes have to be back at school. Athletics head coach Rupert Gardiner addressed the expectations of his relay squads coming off the heels of a disappointing performance for the Bahamas at the World Championships in Daegu, South Korea. This year we have a smaller team. We only have four quartermilers going down so it will be very tough for our 4x4 relay team. Right now they are scheduled to have three rounds of the 400m in the space of five days and you have to come back to run the round and final of the 4x4 so we are going to have to make a decision as to what is going to happen, he said. The team is a good team. Chris is the defending cham pion in the 400m and also our relay team is the defending champions. When you look at the sprint team with the 4x1, we also have a good chance at qualifying for the Olympics in London. Games The 2011 Pan Am Games are expected to be the largest multi-sport event of the year, with approximately 6,000 athletes from 42 nations expected to participate in 36 sports. Both the Pan American and Parapan American Games are being organised by the Guadalajara 2011 Organising Committee (COPAG The 2011 Pan American Games will become the third Pan American Games hosted by Mexico, the first country to do so. Previously, Mexico hosted the 1955 Pan American Games and the 1975 Pan American Games, both in Mexico City. The Pan American Games Movement consists of inter national sports federations (IFs mittees (NOCs recognised by PASO, and organising committees for each specific Pan American Games. As the decision-making body, PASO (Pan American Sports Organisation) is responsible for choosing the host city for each Pan American Games. T T H H E E R R O O S S T T E E R R In track and field, the competitors are Rudon Bastian, Oneil Williams, Jamial Rolle, Wesley Neymour, Adrian Griffith, Donald Thomas, Ramon Miller, Rodney Greene, Chris Brown, Michael Mathieu, Petra Seymour, Laverne Eve, Katrina Seymour and Petra McDonald. In swimming, the athletes are Alana Dillete, McKayla Lightbourn, Alicia Light bourn, Laura Morley, Ariel Weech and Vereance Burrows. In bowling, the athletes are Justina Sturrup and Joanne Woodside. In boxing, the lone fighter is Valentino Knowles. And in tennis, the Bahamas will be represented by Marvin Rolle. F F R R O O M M p p a a g g e e 1 1 E E W orlds bronze medallist Barry welcomed home one. Its been very exciting. Weve seen s ome tremendous efforts from a num ber of our athletes, especially in the junior ranks, he said. And weve also seen where the older and senior athletes are ready to pass the baton on and you (Barry nitely one of those new and exciting a thletes who are going to take your place in the world stage as many before you have done. As a cool, calm and collective ath lete, Maynard said Barry possesses all of the ingredients that bodes well for the Bahamas in future development. You represented the country well and even if you dont do anything great again, you have a grateful nation behind you, Maynard said. While he declined to make any announcement or presentation, Maynard informed Barry that he didnt want to pre-empt anything that the prime minister has in store for their meeting today. Additionally, Barry will be treated to a cocktail reception which will be organised by businessman Harrison Petty and his Petty Group of Companies. Its so important to see a person stick with it the way Trevor has, said Petty as he outlined his reason for spearheading the event. He had an outstanding college career. He was a N AIA champion and it just took a while for his pro career to take off. But I want to say congratulations Trevor. Wea lways believed in you and we would like to simply say continue with what youre doing. Nobody understands the significance of Barrys feat more than golden girl Pauline Davis-Thompson, who won a silver medal in the 400 metres on the same day that Troy Kemp clinched the first gold medal in the mens high jump at the IAAF World Championships in Gothenburg, Sweden, in 1995. I am so proud of you and the entire Bahamas is proud of you, DavisThompson said. Of all of the athletes who we thought would have gotten a medal was you. Thats because you per severed and you never gave up on your dream of becoming a world-class athlete. Davis-Thompson, a national icon and the most decorated Bahamian track and field athlete, said it took Barry quite a while to get on the podium at the glob al senior international meet, but he nev er gave up. He pushed through it and he stayed focused, Davis-Thompson said. Even though there were a lot of distractions going on in Daegu, Trevor never lost sight of the reason why he was there and the reason why he got the medal. B ahamas Association of Athletic Associations president Mike Sands said Barry actually saved the day because despite some mishaps that we had in Daegu, Trevor came through with his performance. Myself, on behalf of the BAAA family, and I had the good fortune of being there to watch Trevors perfor mance, I think Trevor was so excited that he walked off in the opposite direc tion and we had to go and get him. Barry, who was accompanied at the welcome reception by his parents, said he was appreciative of the support he got from everybody present. He noted that his performance was just the tip of the iceberg as he will be preparing for the 15th IAAF World Indoor Championships in Istanbul, Turkey, March 9-11 and the Olympic Games in London, England, July 27 to August 12. Still nursing a toe injury he sustained in his last meet in Slovakia on September 16, Barry said he will skip the trip to the Pan American Games in Guadala jara, Mexico, October 14-30. Instead, he will be returning to the US where he will be gearing up for another important trip as he is all set to be married on November 4. Golden girl Pauline: Im still disappointed that the thieves took my medals national Airport yesterday, Bahamas Associatioon ofA thletic Associations president Mike Sands made another plea for the culprits to do the right thing. Gentlemen, those of you under the sound of my voice and those of you who read this in print, we beg you to please, please return the medals. Return Paulines medals, Sands said. If you are embarrassed to turn them in...and Ive been telling Pauline that I believe it will happen, drive by Paulines house and the same way you boldly took them out, dont go back in the house, but drop them in the yard. Sands, a former national 400 metre record holder, said the medals are of no value to those who have them. But he noted that the national icon has worked so hard for them and they have some sentimental value. So we are begging you to return the medals, he said. Please. Despite the fact that she has issued her own emotional plea for the medals to be returned, Davis-Thompson said she has had a lot of sleepless nights since the ordeal. I just feel very violated and every sound I hear, I just want to get up and check it out, said Davis-Thompson of the broad daylight robbery that also saw her lose a num ber of flat-screen televisions. Davis-Thompson, now retired and working as a consultant with the Ministry of Youth, Sports and Culture and as a local coach, said the stolen electronic items can be replaced but she really wants the medals back. F F R R O O M M p p a a g g e e 1 1 E E F F R R O O M M p p a a g g e e 1 1 E E
C C E E L L E E B B R R I I T T Y Y I I N N V V I I T T . MARK Knowles is pleased to announce the annual Mark Knowles Celebrity Tennis Invitational is set to be held December 1-4 at the Atlantis resort by presenting sponsor MDC-Partners and organised by the Mark Knowles Management Group (MKMG This years featured players are Andy Roddick, Xavier Malisse and Sabine Lisicki with some additional stars to be announced at a later date. The organisers plan to hold a Pro/Am doubles tournament for platinum sponsors, a Pro Exhibition and an opportunity for top Bahamian junior tennis players to interact with the visiting pros. B B G G D D S S A A THE Bahamas Government Departmental Softball Associations 2011 season is stripped down to seven teams. Action is expected to begin 1:30pm Saturday in the wome ns division the upstart BPSU Strikers are slated to take on the Finance Health Invaders who are seeking their way back to championship form. And the highlight of the day is anticipated with the usual presence of the Defence Force Floaters up against a very p otent Royal Police Force Chiefs squad in the Mens Division A championship at 3pm. Interestingly, the opponents of the anxiously awaiting Police Interceptors have not been decided yet in Mens Division B as the BTC Lazers continue to battle the Defence Force C annons in their semifinals. That matchup will enter its fourth (4th the day gets underway at the Blue Hills playing fields. Should a fifth (5th deciding game be necessary, it will close out the day beginning at 4:30 pm. O n Sunday, Mens Division B kicks of the day with the matchup that would have been decided at 2pm followed by the Invaders/Strikers affair at 3:30pm and finally the Defence Floaters and Police Chiefs at 5pm. In addition, the BGDSA has announced its annual MaleH ealth Awareness Day. Med ical personnel are expected to provide free blood pressure checks and sugar level tests. A special invitation is extended to people to come out and take advantage of this opportunity. The association says that there will literally be a h ealthy weekend at the park, said a press release. S S A A T T U U R R D D A A Y Y 12pm BTC Lazers vs Defence Force Cannons (DIVISION B 1:30pm BPSU Strikers vs Fin-Health Invaders (L1 2:30pm Police Chiefs vs Defence Force Floaters (DIVISION A) Game 1. 4pm Defence Force Can nons vs BTC Lazers (DIV. B S S U U N N D D A A Y Y 2pm Police Interceptors vs Winner BTC Lazers/Defence Force Cannons (Div. B1 3:30pm Finance-Health Invaders vs BPSU Strikers (L Game 2 5pm Defence Force Floaters vs Police Chiefs (Division A) Game 2 B B S S C C S S O O F F T T B B A A L L L L O O P P E E N N I I N N G G THE Baptist Sports Council is slated to begin the 2011 Bishop Neil C Ellis Softball Classic Saturday on the wholesalers field at Baillou Hills Sporting Complex. Three games will officially kick off the season. In the 19-and-under opener at 10am, defending champions Macedonia will play runnersup Temple Fellowship. In the co-ed division, defending champions Golden Gates will play against runners-up St Pauls at 11am. Following a brief opening ceremony, the final game will be played in the mens division between Mt. Tabor and Temple Baptist. The league is being held this year in honour of Bishop Neil C. Ellis, senior pastor of Mt. Tabor Full Gospel Baptist Church, who is a former executive officer and former player in the BSC's softball league. C C Y Y C C L L I I N N G G T T O O U U R R D D E E N N E E W W P P R R O O V V I I D D E E N N C C E E THE Tour de New Providence will be held over the weekend of October 29-30, starting and finishing at the Clifton Heritage Park parking lot at Clifton Pier. There will be a race for the competitive cyclists and noncompetitive cyclists. Prizes will also be presented to the oldest and youngest participants. For more information, interested persons can visit email@example.com or call 425-1057. R R E E V V . B B A A C C K K F F O O R R D D C C L L A A S S S S I I C C THE Baptist Sports Councils Rev. Enoch Backford Track and Field Classic is scheduled for Saturday, October 22 at the Thomas A Robinson. Competition will be held in the under-7, under-9, under-11, under-13, under-15, under-17 men and women divisions. For further information, interested p ersons can contact BSC director Brent Stubbs. C C O O N N C C H H M M A A N N T T R R I I A A T T H H L L O O N N THE 25th annual Conchman Triathlon is scheduled for Saturday, November 5 in Freeport, Grand Bahama. It will comprise of a one-kilometre swim, a 2 5k bike ride and a 5k run. Interested persons can register by logging onto the Facebook Event Page, e-mail organiser Bert Bell at firstname.lastname@example.org or calling him at 7275886 or 727-5381. SPORTS IN BRIEF XAVIER MALISSE ANDY RODDICK SABINE LISICKI SPORTS TRIBUNE SPORTS FRIDAY, OCTOBER 7, 2011, PAGE 3E