The Tribune.

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The Tribune.
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Tribune. (Nassau, Bahamas).
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v. : ill. ; 58 cm.


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

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N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Road r epairs cash wasted Volume: 108 No.2TUESDAY, NOVEMBER 22, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY AND BREEZY HIGH 84F LOW 73F THE roadworks in New Providence are a misman aged waste of money,c harged the Democratic National Alliance amid claims that the Government plans toh ire engineers from Baha Mar to help close the New Providence Road ImprovementP roject (NPRIP Prime Minister Hubert Ingraham recently toldr eporters the Government will contract engineers from the Baha Mar road project who have completed their work on the Cable Beach redevelopment. We are accessing some of the engineering persons to help down there because the engineering persons who are down there have come from other jobs, so were going to use their service, Mr Ingra ham was quoted as saying. When contacted yesterday, the Prime Minister declined to elaborate on the plans to engage the engineers. Works Minister Neko Grant yesterday said he had no information on Mr Ingra h ams statement except what he saw in a recent newscast. Yesterday, the DNA said t his revelation from the nations chief is an admission that the multimillion dollarr oad improvement project is poorly planned. Party leader Branville M cCartney said: After just over a year of making a maze out of the capital city with detours and roads, and victimisation of the New Providence Road Improvement Project (NPRIP Government has confirmed what we, the Bahamian people, had suspected all along that the road works are mis managed, poorly planned and a complete misuse of taxpay ers money. The official Government is wreaking havoc on our DNAhits out as Baha Mar team comes to r escue TRY OUR PINA COLADA McFLURRY The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM PRISON OFFICER Mario Forbes was charged in court eight yesterday for causing harm to a man in a fight. Photo: Felip Major /Tribune Staff WOMAN AND HEALTH T T I I M M E E F F O O R R T T E E A A A A N N D D F F A A S S H H I I O O N N SEEWOMANONPAGE12B ATLANTICFOOTBALLLEAGUE D D E E M M E E T T R R I I U U S S L L E E A A D D S S T T I I T T L L E E T T R R I I U U M M P P H H SEESPORTSSECTIONE By SANCHESKA BROWN Tribune News Reporter BLACKBERRY users can expect disruptions in their data service tomorrow, as BTC moves towards a 4G network, officials said yesterday. The company had originally planned the disruption in mobile Blackberry service and data for Sunday, but for unknown reasons, postponed it until tomorrow. BTC spokesman Marlon Johnson would not comment on why the scheduled upgrade was pushed back but did say it will not affect the December launch of the 4G network. By LAMECH JOHNSON A PRISON officer was giv en bail yesterday afternoon after he was charged in Mag istrates Court with causing harm to another man. Mario Valentino Forbes, 32, of Hill Crest Drive, was granted $7,500 bail with two sureties by Deputy Chief Magistrate Carolita Bethel in Court 8, Bank Lane, following his arraignment for allegedly causing harm to Michael Collie on Monday, November 7. The alleged incident report edly centres around the accused and virtual complainants involvement with a female. By LAMECH JOHNSON O NE of the countrys most wanted murder suspects on the re-issued wanted bulletin was arraigned in Magistrates Court yesterday a fternoon, charged in connection with a shooting death two months ago. Elandro Emmerson Missick, 20, of Kingston Street, appeared before Deputy C hief Magistrate Carolita Bethel in Court 8, Bank Lane, w here he was charged in conn ection with the September 17 killing of Damian Bowe. Bowe, 29, was shot and killed in Kemp Road on the day in question, and prosecu t ion alleges the accused is r esponsible for his death. Deputy Chief Magistrate B ethel informed Missick he was not required to enter a p lea to the charge due to the nature of the offence. She conveyed, after confirming with the prosecution, t hat a Voluntary Bill of Indictment would be served, b ypassing a preliminary inquiry and allowing the mat ter to go directly to Supreme Court for trial. The VBI is expected to be served against him on January 12, 2012. On the issue of bail for the charge of murder, she s aid: Because of the nature o f the charges against Elandro Missick, this court cannot g rant you bail. Before the matter was adjourned and the accused 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 8 8 S S E E E E p p a a g g e e 8 8 PRISON OFFICER IN COURT AFTER FIGHT DISRUPTION TO BL ACKBERRY NETWORK MOST WANTED IN COURT i m lovin it


LOCAL NEWS PAGE 2, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE B y LAMECH JOHNSON l A RAPE convict asked a Supreme Court judge for l eniency and help yesterday, minutes before he was sentenced to spend the next 15 years behind bars at Her Majestys Prison. W hen Dameco Wallace pleaded guilty in September to a rape he committed in February, he was already serving 15 years on anotherr ape conviction. Yesterday, he asked Senior Justice Jon Isaacs for mercy in terms of his sentence, and help while he serves his time. A ccording to the evidence, on February 2 Wallace approached a young lady ata convenience store, and identifying himself as Solomon, o ffered her a part-time job w ith a $450 salary. A fter speaking with her mother, the young lady and Wallace caught buses, making their way to the Fox Hilla rea. After they entered an apartment, Wallace produced a knife and threatened to kill the girl before he raped her. The matter was reported to police and Wallace was arreste d, questioned and later ident ified during an identification parade. At the time, Wallace denied the allegation and claimed the sex between himself and the virtual com-p lainant was consensual. He also denied threatening her with a knife, which he said he carried for protection. When given the opportunity by Senior Justice Isaacs to speak yesterday, the convictt old the judge that the last time he was before the court, he shared some of his pers onal life experiences. He said: Im asking you to s ee how lenient you can be a nd see that I could get some sort of help while Im incarcerated. Senior Justice Isaacs noted the submissions made by thec onvict and sentenced him to 15 years on the basis that he had not wasted the courtst ime and only a short amount of time had passed betweeny esterdays sentencing and the o ne in July. T he judge ruled that Wallace is to receive counselling while in prison. W allace served of a num ber of years in prison after he w as convicted of attempted r ape in 1997 and convicted of r ape in 2008. S TLOUIS, USThe mayo r of a tiny, struggling St Louis-area community was sentenced Friday to a year a nd nine months in federal prison on charges that he mis spent tens of thousands of d ollars in the towns money o n cruises, a time-share con dominium and his bills. B ahamas cruises with a friend and the time-share condominium were among his expenses. U S District Judge Rodney Sippel also ordered Keith Conway, 47, to pay more than $62,000 in restitution for hisf raud involving Kinloch, where he served as mayor for a decade. Conway pleaded g uilty in August to wire fraud, theft and witness-tampering charges. P rosecutors say that b etween 2009 and last March, Conway spent the stolen money on flights to Las Vegas and Florida, Bahamas cruises with a friend and a time-share condominium. Conway, whow as arrested in May, also used the money to pay electric bills for a city-owned residencew here he was living rent-free, and on personal federal income taxes. Authorities say he stole from a $90,000 federal grant that was supposed to pay for an additional police officer for the community, which has fewer than 300 residents. As a convicted felon, Conway is barred from holding public office. After Conways guilty plea, the supervisor of the FBIs St Louis office, Dennis Baker, chastised the administrator for pilfering from a community that couldnt even afford to pay its employees. On Friday, Baker pressed that corruption at any level was intol erable. This case clearly demon strates federal law enforce ment's commitment to root out public corruption no mat ter the size of a municipality, he said. It doesnt matter if the city of Kinloch only has a few hundred residents, they deserve honest public service as much as anyone else. Rapist asks for mercy from judge D AMECOWALLACE o utside court, where he was sentenced to 15 years in jail for rape. MAYOR SPENT TOWNS MONEY ON BAHAMAS CRUISES


By DENISE MAYCOCK Tribune Freeport Reporter F REEPORT Albert Alexander Whyley, the clergyman convicted of raping a nine-year-old girl, is sched uled for sentencing in the Supreme Court on Tuesday morning. W hyley, 59, was supposed to have been sentenced on November 11, but his attorney failed to show up, result ing in a postponement. Attorney Carlson Shurland represented Whyley at his tri al in September, when he was found guilty of having unlawful sex with a minor. According to the evidence, t he victim was dropped off b y her mother at Whyleys home, where the incident occurred. A lthough no DNA evi dence was presented in the case, the prosecution relied on the testimony of the vic t im, a letter she had written telling her mother what had happened, and a doctorsr eport confirming that penetration had occurred. Senior Justice Hartman Longley will preside over the hearing. The findings of a social report and a psychiatric report will be presented to the court before the sentence is passed. C rown prosecutor Erica K emp is also expected to call psychiatrist Dr John Dillet from New Providencet o give evidence at the hear ing. This is not the first time Whyley has been convicted o f having sex with a minor. In 1993, he was sentenced to 14 years in prison for a sim i lar offence, however the Court of Appeal overturned the sentence, reducing it by nine years. AN article appearing in The Tribune on Friday, November 18, incorrectly reported that the district council in South Andros is standing in the way of a man trying to address his alcohol problem. The man lives in Mangrove Cay and has spent almost twodecades working for local government on that island. A source close to the mat ter claimed it is local govern ment officials responsible for Mangrove Cay not South Andros who are stopping the man from getting help. It is claimed the man was told he will have to take the time without pay if he wants to join a government recovery programme in Nassau. The Tribune apologises for any inconvenience the error may have caused. By AVA TURNQUEST Tribune Staff Reporter DISAPPOINTED public m anagers are considering taking industrial action over slow-moving labour negotiations, union officials said yesterday. Public Managers Union r epresentative Leslie M unnings said contract talks h ave languished for more than a year at the three public sector entities the union represents. Mr Munnings said the u nion is awaiting financial c ounter-proposals on behalf o f some 200 middle managers at Bahamasair, the National Insurance Board, and the College of the Bahamas. Y esterday, it was rumoured that members had staged a sit out at the Linden Pindling International Airport; however it was confirmed that the gathering was only a lunchm eeting. M r Munnings said: Weve d iscussed all of the other subissues like working conditions, grievance situations, hours of work all of that has been sorted out. Now were down to the f igures and financial implications and for some reason this information hasn't been forthcoming. Weve presented some figures for negotiation purposes but they havent p resented any definitive figu res or percentages. It seems to be that every time we go back to the negotiating table to discuss thec ontract, the items that cannot s eem to reach the table are those financial matters that are going to most impact [members]. Negotiations began in 2010 with NIB, in 2009 withB ahamasair and in 2008 with C OB. M r Munnings said the lack of financial information is a problem in all the negotiations, but particularly in the talks with Bahamasair. I n response to the unions f inancial proposals, Mr Munnings said, negotiators have presented the concept of performance appraisals but the union is not prepared to discuss the option in the a bsence of definitive figures. M r Munnings said: It really is a bit unfair that members are asked to hold out for so long, meanwhile the cost ofl iving goes up. These are the few members who serve as a backbone to so many organisations. When staff is short, they're the ones to keep the system running; when its the week-e nd or after hours, these are t he very people we can call a nd rely upon to make the Bahamasair flight get out on time, to keep the testing going at COB, to make sure that persons who are waiting ont heir cheques to NIB can get p rocessed and handled. Yesterdays meeting was held to update members about the ongoing contract negotiations, specifically with regard to Christmas bonuses. M r Munnings said memb ers were somewhat disappointed that nothing had been finalised, as they still hope to receive bonuses before thee nd of the year. W hile he did not know who alerted the press about yesterdays meeting, Mr M unnings said the union is careful to ensure normal meetings are not mistaken ford emonstrations or undue industrial action. But as time progresses, we are considering taking specific actions, Mr Munnings said. That almost seems like a last r ecourse now and were reall y getting close to that. The PMU became the bargaining agent for 90 managers at NIB in 1997, Mr Munnings said. The union expanded to include 67 managers atB ahamasair in 2006, and 43 m anagers at COB in 2008. Y esterday, NIB officials maintained the board has been negotiating in good faith with the PMU. Algernon Cargill, NIB director, said the board expects to present a financialc ounterproposal in short o rder. C alls placed to Bahamasair and the College of the Bahamas were not returned. LOCAL NEWS THE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 3 Public sector strikes could be on the way as negotiations hit rocks LESLIE MUNNINGS, of the Public Managers Union, speaks to the press yesterday at Linden Pindling Inter national Airport. Photo: Felip Major /Tribune Staff CORRECTION CLER G YMAN T O BE SENTEN CED F OR RAPE OF NINEYEAR-OLD GIRL


EDITOR, The Tribune. I SAW something online the other day that read, The Big Lie Register To Vote, I ts the only time you have a voice. Although I agree that this saying is a fallacy that has been given more credit than it deserves, I think there are e ven bigger lies floating a round our commonwealth. Lets take Grand Bahama, f or example. Try walking around your neighbourhood and strike up a political conv ersation with the first group of young people you meet. I can almost guarantee that a t least one person in that group will state that they are n ot voting in the upcoming election. Im sure youll feel com pelled to ask why and the response will probably be, They (politicians anything for me or Me not voting wont make a difference. If you dont believe me, try i t. Go out and get a feel for t he general response of young Grand Bahamians as it relates to the 2012 elections. W hile the fact that one vote in comparison to the other 3 ,999 in a given constituency may be minimal, it does makea difference and saying that it does not is the biggest lie that we can tell ourselves. Y our vote does make a difference and heres how: On the island of Grand Bahama t here are numerous politicall y disengaged young people. Cynicism toward and disill usionment with politics coup led with a lack of acknowledgment by politicians only feeds the despondency these young people feel. So while you may think that your vote has no effect on the o utcome of the elections, stating this idea to someone who may be feeling disenfranc hised can result in them tak i ng the same position. They will in turn transmit t his misguided viewpoint to their peers. Consequently, this mis leading concept then has a ripple effect and in a matter of h ours transforms this minds et to the psyche of numerous disenchanted youth. Your one vote has now m etamorphosed into 50 to 100 or even more votes that will not be cast on election day. So one person can make a difference, especially when t hat decision has the potent ial to impact the decisions of others. R emember, If each drop of water were to say: one drop does not make an ocean, t here would be no sea (and each note of music were to say: each note does not makea symphony, there would be no melody (Author u nknown). We have to look beyond the cynical thoughts that lim it our growth as a people and embrace the efforts that makeu s a fully functioning democracy. One person can make a difference and chances are that person is you! O LIVIA G CURRY Nassau, November 15, 2011. EDITORIAL/LETTERS TO THE EDITOR P AGE 4, TUESDAY, NOVEMBER 22, 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 THE SUPERCOMMITTEES failure reflects the USdivide: Americans crave both t he Republicans demand for low taxes and t he Democrats insistence on protecting social programmes. So far, no group or l eader has persuaded them they cant have both and theres no quick solution in sight. Its possible the stalemate wont be brok en by the time of the 2012 elections, nearly a year away. Some GOP strategists think Republicans can oust President Barack O bama and win control of both chambers o f Congress. That would enable them to enact much of their agenda, and Ameri cans could render a judgment on its results. O r, perhaps, Democrats will score big victories that will force Republicans to yield some ground. T he bipartisan supercommittees collapse stems from an all-too-familiar reality of modern politics. Republican lawmakers respond to activists who overwhelmingly oppose higher taxes. And Democrats answer to activists who will tolerate no nicks in Medicare, Social Security and other programmes withouts teeper taxes on the wealthy. The same differences pushed the nation to the brink of default last summer, prompting the first-ever downgrade of the governments creditworthiness. Yet no leader or group has convinced e nough Americans that everyone must a ccept some pain to bring taxes and government services more closely in line. So the federal debt hit $15 trillion last week.A nd the government suffered another embarrassment Monday, immediately spooking US markets and possibly unset tling foreign markets in the days ahead. 1 9th century Americans venerated Hen ry Clay as the Great Compromiser for helping resolve knotty national problems. T oday, that title would almost surely be hurled as an insult, especially at a rally or caucus to nominate someone for Congress. T he supercommittees six Democrats and s ix Republicans knew they would be criti cized for failing to reach an accord. But they saw a worse fate in straying too far fromt heir respective parties uncompromising stands on taxes and social programmes. Many veteran politicians expect more v ersions of recent elections, which were heavily influenced by partisan activists who put a scare into lawmakers threatening to veer from party orthodoxy. Compromise is not where the incentives are in the political process right now, said former Rep. Tom Davis of Virginia, who o nce headed the GOPs House campaign committee. Because so many House districts are solidly Republican or solidly Democrat i c, he said, members are judged by what their primary electorate thinks of them. Eventually, Davis said, repeated failures to tame the deficit might inflict so much pain on Americans possibly through a severe recession or even depression that todays pri mary-dominated voting patterns will change. Some lawmakers doubtlessly see this coming, Davis said. But the incentives in t he system do not reward you for being a head of the curve. Congress reflects the public divide over t ax and spending priorities. A new Quinnipiac poll found that 73 per cent of Republicans want to address the deficitw ith spending cuts only, while only a third of Democrats hold that view. More than half of Democrats favour a m ix of tax hikes and spending cuts. Only o ne Republican in five agrees. Independent voters, as usual, occupy a middle ground. Slightly more independentsf avour a spending-cuts-only approach to a strategy that includes some new taxes. But neither option hit 50 per cent in the poll. I n 2006, independent voters broke heavily for Democrats, helping that party regain the House majority. In 2008, independents again favoured Democrats for Congress, and they helped elect Obama. But last year, independent voters swung strongly to Republicans, who regained con t rol of the House. One possible way to break Washingtons cycle of logjams is for independent voters to increase in number and to insist on systemic changes in practices. Nathan Daschle, who heads a political n etworking firm called Ruck.Us, and w hose father was a Democratic Senate leader, said the only way he can envision really changing the incentives of our polit i cal system is to have huge numbers of Republican and Democratic voters switch their affiliation to independent. William Galston, a Brookings Institut ion scholar who worked in Bill Clintons White House, sees two possible turning points before the 2012 elections. Pro-milit ary lawmakers from both parties might succeed where the supercommittee failed, he said, by crafting a tax-and-spendingc ompromise that would avert the cuts s cheduled at the Defence Department. Or, Galston said, Europes financial prob lems and the US political gridlock might l ead to so much economic damage that even devout liberals and solid conservatives will have to rethink their intransigence. If people decide theres no difference between the US and the Eurozone, Galston said, we may discover the hit we took in global esteem in the summer was j ust the beginning of the decline. Peter G. Peterson, a former Commerce secretary and leading critic of deficit spend i ng, said in a statement: Meaningful deficit reduction requires both parties to vote for a plan that does not reflect their partisan l itmus tests. For now, many lawmakers see that idea as a one-way ticket out of Congress in their next primary elections. Such thinking points to more gridlock ahead. By Charles Babingon, Associated Press. Your vote can make a difference LETTERS l End to USdebt gridlock not in sight WANTEDA Major Hotel has a vacancy for anASSISTANT ENGINEERResponsibilities includes: Operations No later than Thursday, 8th December, 2011 EDITOR, The Tribune. I WRITE about the recent p rognostication or prediction released by Standard & Poor (S&P findings about my countrys economic and financial sta t us. F irstly, we in The Bahamas h ave not received their grim outlook on us because we do not look to man as our source. Rather the great God and C reator of this universe is our source (our help in the time of trouble). He has assured us that we w ill succeed. He has also assured us that b lessed is the nation whose God is the Lord and thats The Bahamas. My pronouncements contrary to Gods promises, is not of God and thus cannot and will not be received. That devil is a liar. The Bahamas stands as a beacon in the world. The Great God of this universe lives in The Bahamas. If you d o not believe it, just take a l ook around you. What won ders to behold, I mean what natural beauty and blessed people. God is not a man that He s hould lie, or the son of man t hat he repents. What he said w ill happen, will happen, because he stands by his word to perform it. So Standard & Poor, you are wasting your time. We in The Bahamas b elieve that no weapon that is formed against us, shall prosper and every tongue that rises up against The Bahamas s hall be condemned by God. This is His promise to the p eople of this fair land. While we wait on the Lord to move on our behalf, and, yes, we have our share of problems, as has every other country, including the great United States of America, but I tell you, we shall not be deterred as we move forward, onward, upward and together. I have some questions of my own:1 ) I wonder: How does S tandard & Poor rate itself? 2) Are they a failing company or group? Where the struggles within have already begun to destabilise the very c ore principles on which it w as founded? H ypothetically speaking, if you have a patient and one waited to check their vital signs, you would have to lay your hands actually on the p erson, in order to get the precise reading or pulse rate. So too, if you wanted to know exactly what goes on in T he Bahamas you cannot be in the United States and know w hat is happening here. Finally, how did S&P get their information? And could it be hearsay, and or speculation? FRANK GILBERT (A son of the soil Nassau, November 4, 2011. Bahamas stands as a beacon in the w orld EDITOR, The Tribune. Re: Bishop urges gay men to seek help. The Tribune, November 15, 2011. IF GAY men are helped to experience a miraculous conversion to become straight, then they too could join the ranks of the majority of normal Bahamian men who infect women naturally, and beget unwanted illegitimate children with HIV. KEN W KNOWLES, MD Nassau, November 16, 2011. W W i i l l l l t t h h a a t t h h e e l l p p ? ?


By CARA BETHEL-BRENNEN A FTER more than 50 years, Bahamas Speed Week will return next week in what is expected to be a tremendous boost for sports tourism. Organisers and sponsors have invested hundreds of thousands of dollars in the five-day event, which will be a virtual whos who of the w orld of motor car racing. At a press conference yest erday, organiser David M cLaughin said the Bahamas Speed Week Revival team is exactly where it needs to be. Were ready and the time is right. Everything has to have its time and it is a matter of destiny, he said. Mr McLaughin said a tremendous amount of work has gone into getting Nassau r eady to host the event including improvements to infrastructure, work permit a pplications and organising s ecure storage for the visiting v ehicles. M inister of Tourism Vinc ent Vanderpool Wallace and Minister Culture Charles M aynard noted that the event will benefit the country enormously and expressed the hope that it will become an annual affair. Mr Vanderpool Wallace said Bahamas Speed Week Revival will serve as a modelf or projects the ministry wants to be involved with in the future sustainable events that can be expanded every year and do not require the ministrys sole management. Forty cars together valued i n the millions are scheduled to participate in a series of e ight events. The opening ceremonies will be held on Wednesday, November 30 at Arawak Cay and will feature a ceremonial l ap by Governor General Sir Arthur Foulkes and Sir Sterl ing Moss, followed by a welcome reception at Government House. On Thursday, there will be an island tour followed by a l unch in Lyford Cay, where t he antique and classic cars w ill be judged. T here will also be a media lunch hosted by Good Fellow F arms and the Ministry of Tourism and Aviation. That evening, there will be a reception hosted by Gray c liff. Participants will have a free day on Friday before attending a reception hosted by Car lo Milano on Bay Street. Saturday will be race day, featuring a Fort Charlotte hill c limb and several sprints. The evening will conclude w ith a Bahamas Speed Week Gala Ball and an Auction of Promise to raise money for local charities the Cancer Society of the Bahamas, the R anfurly Home for Children, T een Challenge and the AIDS Foundation. The auction will f eature a 007 licence plate autographed by Sir Sean Conn ery and Sir Stirling Moss. SECURITY measures at the College of the Bahamas have been stepped up in the w ake of a campus robbery last w eek. The incident, in which a group of men approached a student and robbed him of his laptop, has led police to increase nighttime patrols around COBs main campus in Oakes Field. Meanwhile, the college is taking its own precautions, ensuring all campus lighting is operational and increasing the number of guards stationed at certain posts. In a statement, the college said: COB Security Department received a report that a group of approximately four young men were on campus and had aggressively approached several COB stu dents resulting in an alterca tion and subsequent theft of a students laptop. The suspects fled on foot. Campus security and officersof the Royal Bahamas Police Force quickly gave chase and apprehended one of the sus pects. There were no injuries as a result of this incident. The statement added that from now on, the entrance to the Portia Smith building at Poinciana Drive will be closed to inbound traffic at 6pm, and all exiting traffic will be mon itored. In addition, there will be more security officers sta tioned near Independence Park at the Tucker Road entrance and at the Culinaryand Hospitality Management Institute (CHMI The college advised faculty, staff, and students to be vigi lant and adhere to safety tips. The statement read: Always walk in groups if possible and especially at night; park near a security booth while on campus late at night; ask a security officer to escort you to your vehicle if parked in a deserted area at night. Ensure that your personal and valuable items are prop erly secured in your vehicles; minimise the amount of cash that you carry; always lock y our car and secure your k eys. Persons who notice suspicious activity are asked to contact the colleges Security D epartment on 302-4566, 3972 647 or 325-5551. LOCAL NEWS THE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 5 EXTRA SECURITY IN WAKE OF R OBBER Y ON COLLEGE CAMPUS The need for speed By SANCHESKA BROWN T ribune Staff Reporter s POLICE are still unsure about the circumstances that lead to the shooting deaths of two men over the weekend. T he body of a man was f ound laying in the middle of the road hours after a HIV peer educator was found gunned down inside an apartment building on Saturday. A ssistant Superintendent Clayton Fernander said police a re investigating both matters, but still have no idea why the men were killed. We have no new updates. The two bodies have beeni dentified and we are talking to family members and people in the neighborhoods. Officers are following leads and we hope to have a break in the cases soon. As of right now, we do not have a motive and we do not know what happened. But we are hoping toc atch a break soon, he said. A lexander Curry, 22, was f ound dead with multiple gunshot wounds inside an apartm ent at Prison Lane off East S treet shortly after 5pm. Later that evening, the body o f Tamal Stubbs, 31, of Springfield Road, Foxdale Subdivision, was found lying in the middle of the street with m ultiple gunshot wounds. P olice are asking anyone who may have information to c ontact them by calling 911 or 919, crime stoppers on 328TIPS, or the CDU on 5029991. Last night, the countrys murder count stood at 112. T HECLASSICERA o f Bahamas Speed Week is being revived, with classic cars and a whos who of motor racing taking part in the new fived ay event. The opening ceremony will be held on Wednesday next week. UKEVENT director David McLaughlin with Sir Sterling Moss. MYSTERY OVER LATEST DEATHS


By DENISE MAYCOCK Tribune Freeport Reporter F REEPORT The eight people who died in traffic accidents this year in Grand Bahama were remembered o n Sunday during a church s ervice commemorating the World Day of Rememb rance for Road Traffic Victims. The service was held at the Grand Bahama FamilyW orship Centre on West A tlantic Drive. Bishop Cardinal McIntosh d elivered the sermon and M inister of Transport Neko Grant spoke on behalf of g overnment, paying tribute t o the victims and extending condolences to their relatives and friends. W orld Day of Remembrance was founded by the U K advocacy group Road P eace. It is observed in accordance with a resolution adopted by the United Nations General Assembly i n 2005. Mr Grant said the day is significant because many l ives are lost each year as a result of traffic accidents. H e reported that 44 traffic deaths were recorded in 2010 i n the Bahamas. While this number signifies a decline when compared t o 56 over the previous year, o ur objective is to sustain this trend and achieve even greater decreases in the num-b er of persons that succumb to traffic accident-related i njuries, he said. M r Grant said his ministry, through the Road Traffic Department, will continue to create campaigns that pro mote road safety. H e noted that over the past two years, his ministry has promoted initiatives s uch as the Driving Simulator Programme for high s chool students, and the Student Driver Education Prog ramme for road safety t eachers. Mr Grant said the Road T raffic Department continu es to partner with other sectors of the community to raise public awareness aboutr oad safety. He noted that emphasis h as been placed on promoti ng the use of seatbelts and car seats for infants and young children. The public, he said, has also been warned of the dang ers of speeding, being distracted or being drunk behind the wheel. M r Grant is urging everyone to commit to making the r oads safer. He encouraged the public t o spread the message of r oad safety to family members, neighbours, co-workers, a nd friends. It is only through a united effort that we will achieve a significant decrease in roadt raffic injuries and fatalities, he said. J acinta Colebrooke and M aurice Noel died in a car accident on January 12, 2011; Alonza Charlton died on February 21; Vito Pinder died on June 12; Leonard K nowles died July 16; Anne Penn died September 10; Cherese Burrows died Octob er 7; and Randy Petty died October 31. LOCAL NEWS PAGE 6, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE FLAG Day celebrations are a time for national unity and p atriotism, Prime Minister Hubert Ingraham said. T he nations chief also spoke to students at St Bede's Primary School of the significance of the Bahamian flag ata Flag Day ceremony. H e stressed the importance o f knowing Bahamian history a nd culture and respecting national symbols. Celebrating Flay Day is meant to promote nationalu nity, encourage national pride, and develop greater p atriotism in terms of respect for national symbols. When you look at the flag, you should get a feeling of pride about being distinctly Bahami-a n and loving it. This flag belongs to you. I t represents you. It represents your parents and grandparents. In treating the flag with respect, you are showingr espect for others as well as yourselves. When you pledge allegiance to the flag, you are promising to love, be loyal and faithful to our country, and to work always to make it evenb etter for all our citizens, said M r Ingraham. T he prime minister gave the students a brief history lesson about the days before Independence and before theB ahamas had its own flag. He said that before the c ountry became independent in 1973, the Bahamas then a British colony had to celebrate the flag of Great Britain. N ow the country is fortun ate to have its own national s ymbols to cherish and protect, he said. Blessed by a beautiful geography and free from wara nd civil strife, the Bahamas is the envy of many countries. W e must never become puffed up because of this. Instead, we must work harder to protect what we have. Today as you celebrate F lag Day, remember not just t o admire the beautiful colours o f our flag but to also remember the beauty of our country and all the blessings we enjoy. Our Flag Day is a day for g ratitude and a day for appreciation, and a day to be proud a nd show our pride in being Bahamian. In famous words spoken by others, Flag Day should remind us not of what ourc ountry can do for us, but r ather what we can do for o ur country, said Mr Ingraham. Tributes paid to those killed in road accidents By DENISE MAYCOCK T ribune Freeport Reporter F REEPORT A Freeport m an was sentenced to three years in prison after pleading guilty in the Freeport Magis t rates Court to 23 counts of stealing. C harles Symonette, 37, of P ioneers Way, was charged with 12 counts of stealing from a vehicle in Court 2 before Magistrate AndrewF orbes. He pleaded guilty to the offences on Friday last week a nd was sentenced to 28 months in prison. S ymonette was also c harged with 11 counts of stealing from a vehicle in Court Three before Deputy Chief Helen Jones. H e pleaded guilty and was sentenced to three years. The two sentences are to run con c urrently. According to reports, S ymonette was caught b reaking into a vehicle on Monday at Pioneers Way. The owner of the vehicle confronted Symonette, whow as injured and taken to hospital. After his release from hos p ital, he was arrested by police for the offences. PRIME MINISTER REMINDS PUPILS TO HAVE PRIDE IN THEIR FLAG MAN JAILED FOR THREE YEARS FOR THEFTS


LOCAL NEWS THE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 7 DURING their eight-day o fficial tour of Abaco and the A baco Cays, Sir Arthur and L ady Foulkes enjoyed the hospitality of Abaconians and residents, including that of local and central government officials as well as civic, reli-g ious and business leaders. T he hospitality included luncheons hosted by various local councils and resorts as well as a joint-luncheon meeting of the Rotary Club of Abaco and the Abaco Chamb er of Commerce held at the A baco Beach Resort at Marsh Harbour. Sir Arthur noted during his visit: Today Abaco boasts the second largest international airport in the country in t erms of visitor numbers, has a thriving tourism industry a nd is undergoing impressive development in terms of public infrastructure and private investments. Sir Arthur and Lady F oulkes were able to tour a n umber of these developments including several clinics and the new Government Administrative Complex. At the BEC Wilson City Power Plant, engineer and A ssistant General Manager f or Generation Toni Seymour led a tour of the new facility. Ms Seymour, a native of Long Island and graduate of NGM Major High School, studied engineering at B righton University in the UK. S ir Arthur and Lady F oulkes also toured Schooner Bay, which has been billed as a model of sustainable development, and Bakers Bay Development on Guana Cay,w hich has removed the invas ive casuarinas population from the development replacing them with non-invasive vegetation. The visit also included a tour of a number of settlem ents and housing developm ents prior to returning to Nassau on November 15. Three days later, they left for the One Bahamas ceremony in Grand Bahama. B y DENISE MAYCOCK Tribune Freeport Reporter d FREEPORT Governor General Sir Arthur Foulkes said the country has made great progress economically, sociall y and culturally, but much remains to be done. S ir Arthur was speaking in Grand B ahama at the 19th annual One Bahamas Celebration and Flag-raising a t Independence Park, which was held on Friday, November 16. Sir Arthur andL ady Foulkes had just completed an e ight-day official tour of Abaco. In Grand Bahama, hundreds of stud ents from throughout the island assem bled at the playing field at 10am for the r aising of the Bahamian flag. They waved t heir miniature flags with pride. Sir Arthur, Sir Orville Turnquest, hono rary chairman of One Bahamas, and former governor-general, and Sir Durward Knowles were treated to a cultural extravaganza of songs and dance. Grand Bahama MPs Kenneth Russell, N eko Grant and Kwasi Thompson also attended. Sir Arthur said the Bahamas has e njoyed 38 years as a sovereign inde pendent state among the nations of the world. W hile much progress has been achieved, he said the work of nation building is never finished. In the prophetic words of our national anthem, we are being challenged by wide and treacherous shoals. Yet, wem ust remain steady, sunward, Sir A rthur said. The Governor General told students that the colours of the Bahamas flag are a representation of the strong and united Bahamian people and the nations rich resources of land and sea. The flag and national anthem is what binds us together as one people, in love, in unity and with respect for each other, he said. He stated that the One Bahamas idea m ust be constant part of the daily lives of a ll Bahamians. H e noted that flags are raised throughout the Bahamas today as a demonstration of unity. S ir Arthur reminded young students that many countries would give anything to have the kind of harmony that exists in the Bahamas, to have the benefit of at hriving parliamentary democracy. Indeed, some are dying for the right to be governed by consent, for rights we a lready enjoy, rights we celebrate and c herish, rights that come along with the responsibilities of citizenship. Around our world also there are violent conflicts over religious differ-e nce, for political and ideological reasons, and for land, water and other r esources. S ir Arthur told students that Bahamians are privileged and fortunate for not being afflicted by such miseries. H e stressed that Bahamians must be v igilant to always protect what we have a s a Bahamian nation. We must learn to think in terms of b eing Bahamian without the prejudices that tend to divide us into black Bahamians, or white Bahamians, or any otherp rejudices that would divide us based on e thnicity or ancestry, he stressed. S ir Arthur believes that One Bahamas combines ethnic, religious, and cultural diversity, bringing everyone together as one people under one God. He warned that Bahamians must not a llow toxic foreign influences destroy their cultural identity. Young Bahamians, it will be up to y ou to overcome those negative influ ences, he said. Sir Orville told students that Sir Durw ard Knowles, expert sailor and Olympic G old medal recipient, is one of many good Bahamian role models that they can emulate. Sir Arthur:Much remains to be done The flag and national anthem is what binds us together as one people, in love, in unity and with respect for each other Sir Arthur Foulkes GOVERNOR GENERAL GIVEN TOUR OF NEW FACILITIES IN ABACO ON A TOUR conducted by Assistant General Manager for Generation Toni Seymour, Sir Arthur and Lady Foulkes viewed the new Wilson City Plant in Abaco. Photo courtesy: David Ralph


By CELESTE NIXON T ribune Staff Reporter THE closing ceremony for the 2011 Caribbean HIV Conference was at held at the Atlantis Resort yesterday. Declaring the conference a success, event co-chair Dr Perry Gomez said participants will leave with a wealth of knowledge from the many dynamic experts from around t he region who spoke on the new challenges in the fight against HIV/AIDS. The conference was a success from day one, said Dr Gomez. The energy and enthusi asm of the people it was pal pable as you walked the corridors over the last three days. Moving forward, Dr Gomez said, the Bahamas must continue to pursue the a ims outlined in its national HIV plan most importantly, getting the message out about how to prevent the dis ease. According to Dr Gomez, while the number of deaths resulting from HIV/AIDS in the Bahamas has declined, the p revalence of the disease is roughly the same because the n umber of new infections is not decreasing as fast as it should. The upscaling of prevention is the most important aspect of the programme," Dr Gomez said. H e said that, in addition, l aboratory capabilities will be u pgraded so that testing for HIV resistance and research o n the virus itself can take place here. F or countries like the Bahamas which have been treating persons infectedw ith HIV/AIDS since 1995, Dr Gomez said, the chances o f resistance is greater because our patients have been exposed to drugsl onger. Dr Gomez added the Bahamas is lucky enough to be able to do research at the molecular level, as the equipment and technicians are already available here. O ne of the major chal lenges that was brought to l ight during the conference was the reduction in funding for HIV/AIDS research, prevention and treatment t hroughout the region. During one of the economi c sessions, it was suggested that if one per cent of national budgets were to be allocated specifically for HIV/AIDS, it would bring the region to the $500 million a year mark. This is the figure said to be r equired in order to sustain t he response to the epidemic g oing forward. It is an important message f or the region to take home, said Dr Gomez. A nother challenge highlighted throughout the conference was the stigma andd iscrimination that still surrounds HIV/AIDS and how i t impedes prevention, care and treatment. When other members of s ociety stigmatise infected persons, it is hard for them to seek treatment and care, Dr Gomez said. The best way to feed the epidemic is to circumvent people and make if difficult for them to get help. H owever, Dr Gomez believes the tide is turning a nd there will be more openness and acceptance of people for who they are. LOCAL NEWS PAGE 8, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE WANTEDSR. RESERVATIONISTResponsibilities: Maximize occupancy and avoid overbooking as much as possible; Prepare arrival and departure list; Prepare daily and weekly projections; documentations; Prepare necessary reports; Assist with The ability to cope under pressure with focus on customer services is essential to Experience: Previous experience with reservations and Education : The ideal candidates should, possess an associates degree or related hospitality management Interested candidates should submit resumes no later than Friday, December 2, 2011 to: When the issue of bail was raised by the presiding judge, prosecution offered no objections to Seven Hills Estate resident being granted bail. Vandera Woods-Carey, defending, described Forbes as a model citizen who was gainfully employed and had no previous conviction or pending matters before the courts. The judge granted the accused $7,500 bail and adjourned the matter to Wednesday, November 23, for a fixture hearing in Court 5, before Magistrate Derence Rolle-Davis. We had to push it off until Wednesday and at this point I do not want to say why but it wont effect the launch or any o f our 4G plans. We plan on doing some upgrades to the system between 12am and 6am Wednesday morning. There may be a disruption in Blackberry service and internet service between those h ours, he said. Mr Johnson said while no official date has been set for the launch of the 4G network,t he company is hoping to roll it out before Christmas. He said the launch of 4G will pave the way for touchscreen Androids, BlackBer r ys and the entire hi-speed smart-phone family which are turning the handheld devices into internet and entertain m ent providers. w as charged in connection with a recent robbery, Roberto Reckley, defending, told the judge his client claimed to be victim of brutality andw as tazed while in police c ustody. M r Reckley requested his client who maintains his innocence in the matter not only be examined by a doctor but also placed in isolation atH er Majestys Prison due to r eceiving information that the deceased has family members at the prison. However, she informed counsel she had no control o ver placing and suggested t hey give that information to prison officials. Missick was also charged yesterday with a robbery incident on Thursday, November 1 4. P rosecution alleges the a ccused took $59 worth of Rothmans cigarettes and Backwood cigars from the victim. He pleaded not guilty to the charge. T his matter was adjourned t o November 22 and 23 to receive a trial date in Court 5 before Magistrate Derence Rolle-Davis. country while the silent Opposition looks on despondently, oblivious of or apathetic to the plight of Bahami-a ns who struggle daily to navi gate through ineptly executed e xcuse for roads. At the end of 2008, the government signed a $120m contract with Argentinean firm Jose Cartellone Construc-c iones Civiles (JCCC a loan from the Inter-American Development Bank. However, the project has been dogged with criticism from business owners and residents whose income and daily commute have been nega-t ively effected by the project. Dionisio DAguilar, head of the Superwash chain of laundromats, yesterday said the Governments reported plans to hire additional engineers to s traighten out the project is a s tep in the right direction. The project has admirable g oals and I can see the endgame. However, its exec ution has been particularly devastating by how slow and how painful it has been. I think that even the Prime Minister in his appeal f or help from people who work on Baha Mar admits that it has not gone as well as planned and in my opinion t hey should have broken that p roject into smaller sections and given Bahamian contractors the ability to perform some of the functions. What it brings to light is B aha Mar was done predomi nantly by Bahamian compan ies and lends credibility that Bahamian businessmen know how to run Bahamians better than everyone else. When you bring in a foreign companya nd employ local labour it is a f ormula for disaster. Mr DAguilar, who has several businesses which have been affected by ongoing roadworks, added:Managing a Bahamian worker is ana rt and skill. A ttorney Wayne Munroe, a candidate for the DNA, said he plans to sue JCCC on behalf of 600 NPRIP workers who claim they are forced to work under poor conditions and for less than minimum wage. M r Munroe plans to file suit within the next 10 days. To comment on this s tory, log on to www. 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 f f r r o o m m p p a a g g e e o o n n e e ROAD REPAIRS CASH WASTED Caribbean HIVconference is declared a success PRISON OFFICER IN C OUR T AFTER FIGHT DISRUPTION TO BLACKBERRY NETWORK ELANDRO MISSICK being taken to court yesterday to be charged with murder and robbery. Photo: Felip Major/Tribune Staff MOST WANTED IN COURT


LOCAL NEWS THE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 9 About RBC and RBCWealth ManagementRoyal Bank of Canada, which operates under the brand name of RBC, is Canadas largest bank, one of North Americas leading nancial services companies, and a mong the largest banks in the world as measured by market capitalization. T hrough a network of ofces worldwide, the international division of RBC provides comprehensive wealth management services to high net worth individuals and institutional clients in select markets around the world. Royal Bank of Canada Trust Company (Bahamas) Limited is a leading i nternational private bank and trust company in the Bahamas, one of the worlds p remier nancial centers, serving high net worth individuals and corporate i nstitutional clients.Royal Bank of Canada Trust Company (Bahamas) Limited is looking to hire a Senior Trust Of cerThe Senior Trust Ofcer will report into the Head of Trust Services, RBC Wealth Management Caribbean and will be responsible for administering a portfolio of complex trust structures for high net worth individuals as well as providing support, strong leadership and fostering teamwork amongst a group of highly motivated professional Trust Ofcers and Trust Administrators, ensuring that all administrative issues are dealt with accurately and ef ciently. K ey accountabilities include: Ensure that strong technical knowledge of all aspects of trust and company a dministration is delivered: this includes attending client meetings and understanding the correct administrative needs associated with the structure. Providing assistance to increase prtability of the company/shareholder v alue by identifying opportunities to extend the trust services, and to use the b ank offering to implement solutions for clients where appropriate. Proven superior sales acumen, with ability to attract, build and strengthen relationships with key clients and intermediaries and identify new ideas in relation to products and services that may be offered by the company. Maintains and grows revenue through building relationship with the PRM in retention and extension of existing clients accounts, cross selling and o btaining new clients through existing client referrals. Review pr tability o f each administered trust, company and other duciary structure and take remedial action where appropriate taking into account the degree of risk and complexity associated with the structure and the value given to Client. A key role in the on boarding of new trusts and companies Working closely with referral sources, internal and external partners to deliver superior client experience during the take on process. Responsible for the supervision, training and development of a team of Trust Ofcers and Administrators. Provide input on trust policies and procedures to other members within the unit as and when required. Work in a fast paced, high growth environment and demonstrate leadership in challenging situations with aggressive deadlines and service standards. R equired Quali cationsand Skills: A University degree in business, accounting, or other related discipline. A minimum of ten years relevant experience. Professionally qualied, e.g. accounting/ nance qualication, STEP, ICSA, TEP, ACCA or a qualied attorney who has experience working in the eld of trust law and company law. Possess a superior knowledge of Trust (complex and simpleompany and Fiduciary structures, and tax and legal issues affecting the administration of Trusts and Companies. Experience with the preparation and presentation of nancial and estate planning proposals to high net worth individuals. Fully knowledgeable on the abilities of the trustee, and strong decision making demonstrated. Self-motivation with excellent project management skills. Demonstrably strong technical knowledge of all aspects of trust and company administration, including the nuances and statutory requirements of the major offshore jurisdictions used in connection with clients structures. Strong analytical and problem-solving skills, methodical, thorough and attentive to detail. Strong supervisory skills coupled with the ability to lead by example. Fluency in a foreign language preferred. (Spanish or French preferred) Strong skills in time management and prioritization. Excellent oral and written communication skills. Cultural awareness and sensitivity on both an individual and corporate basis. Ability to work in other RBC Wealth Management ofces within the Caribbean as required Excellent at relationship management and working with others, as demonstrated through experience and references. About Our People, Our Culture We believe our people are our main strength, and to this end we are dedicated to continually developing our employees. This position offers opportunities for career progression and appropriate training will be provided. We offer an attractive compensation package, which includes incentive bonuses and a comprehensive health & bene ts plan. Remuneration will be commensurate with qualications and experience. Interested persons should apply by November 24, 2011 to: Royal Bank of Canada Trust Company (Bahamas) Limited P. O. Box N-3024 Nassau, NP, Bahamas Attention: Human Resource Department Via Email: Only applications from suitable qualied candidates will be acknowledged D EPUTY Prime Minister a nd Minister of Foreign A ffairs Brent Symonette yesterday accepted the credent ials of Dr Gerarda Eijke mans, the new representative of the Pan American Health O rganisation and the World H ealth Organisation to the Bahamas and the Turks and Caicos. Talks focused on: the dengue outbreak, not only in the Bahamas but throughoutt he region; the outbreak of Cholera in Haiti following the 2010 earthquake; the high n umber of non-communica ble disease cases resulting in death; and the need for peo-p le in the region to live h ealthier lifestyles. O ther challenges recogn ised were the need to implement tobacco legislation and t he possibility of engaging the services of elite athletes as advocates for healthier living. M r Symonette and Dr E ijkemans also discussed chemical and waste management and possible solutions in the face of further development throughout the region. D r Eijkemans initiated her professional career as a social security doctor in the Netherl ands in 1992. She joined PAHO/WHO in 1993 as an international con-s ultant on occupational h ealth, stationed in Panama. S he also served as an intern ational consultant in Peru from 1995 to 1997, worked as o ccupational health adviser in the WHO in Geneva, and held the post of advisor ons ustainable development and e nvironmental health in the PAHO/WHO office in Mexico. She was appointed PAHO/WHO representative for the Bahamas and the Turksa nd Caicos on August 22. Dr Eijkemans is a citizen of the Netherlands. She studi ed at the University of Nijmegen in the Netherlands and at Johns Hopkins Uni-v ersity in Baltimore, USA. Health representative welcomed to Bahamas THE US Embassy in Nassau will be closed on Thursday, November 24, in observance of the Thanksgiving Day holiday. The Embassy will resume normal b usiness operations on Friday, N ovember 25, at 8am. USEMBASSY CLOSED FOR THANKSGIVING DEPUTY PRIME MINISTER and Minister of Foreign Affairs Brent Symonette, left, accepts the credentials o f Dr Gerarda Eijkemans, representative of the Pan American Health Organisation and the World Health Organisation to the Bahamas and Turks and Caicos. Photo: Kris Ingraham /BIS


By NEIL HARTNELL T ribune Business Editor A WELL-KNOWN Bahamian businessman yesterday told Tribune Business he had closed Freeports favourite restaurant because i t had been losing between $6,000-$8,000 per month for the past two years, adding that rents levied by the Grand Bahama Port Authority (GBPAthey should be. Jeff Butler, who also owns t he Butlers Food World supermarket, said he had closed Shenanigans Irish Pub i n the Port Lucaya Market place at the end of October, although minimal job losses had resulted, after he became fed up with recurring losses and no help from the GBPA. It was the Freeport com m unitys favourite restaurant, Mr Butler told Tribune Business, but when the PortA uthority put the rent up...... The rent in Port Lucaya is equivalent to South Beach. I was the chairman of the P ort Lucaya Marketplace Tenants Association, and told them: Look, the economy sucks, you need to cut the rent for everyone by between 2540 per cent, but they wouldnt do it. The rent up there is double what it should be in these conditions. Mr Butler added that another problem at Port Lucaya Marketplace was the lack of parking spaces, saying the facility had only 200 when it required 600. As a result, most spots were taken by hotel workers and taxis, and customers struggled to park their vehicles. And he argued that Port $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.19 $5.19 $5.17 T HETRIBUNE SECTIONB business@tribunemedia.netTUESDAY, NOVEMBER 22, 2011 By NEIL HARTNELL Tribune Business Editor A WELL-KNOWNBahamian busin essman yesterday said he had been terribly surprised with the success of his 22 year-old company in carrying the flagship of Bahamian food, as it moves to regroup and consolidate its latest $3.5 million expansion. Gus Cartwright, proprietor of the Checkers Cafe and Sunrise Wash House chains, told Tribune Business that while Family Island expansion via joint venture/franchise-type partnerships was ane ventual possibility, the business was cooling off following the opening its Joe Farrington Road outlet. D isclosing that the latest location had b ecome the third strongest performer within the four-strong Checkers set-up, M r Cartwright added that the Joe Farr ington Road site, which employs 25 pers ons, had gone a bit beyond expectat ions. I ts performance, he said, had helped to pick up the slack from the Robinson Road/East Street location, where sales h ad dropped 30-40 per cent due to its p osition at the heart of the ongoing B y NEIL HARTNELL T ribune Business Editor All Grand Bahamians need to realise the Grand Lucayan r esort is in a perilous position, a senior Hutchison Whampoa executive told Tribune Business yesterday, adding that B y NEIL HARTNELL Tribune Business Editor F AILUREto implement crime-prev ention methods could be the straw that breaks the camels back for many struggling Bahamian companies, privates ector leaders warned yesterday, with slack businesses more susceptible to internal theft and white collar crime. P reviewing next weeks Crime Pre vention Seminar, which is being held in conjunction with the Royal Bahamas Police Force and Crimestoppers, Winston Rolle, the Bahamas Chamber ofC ommerce and Employers Confederat ions (BCCEC nies that elected to save money by not putting in the required safeguardsa lmost inevitably regretted it. Explaining that the seminar would explore ways to make crime-fighting tools, such as Closed Circuit Television( CCTV) systems, less expensive for c ash-strapped Bahamian businesses, Mr Rolle said: Theres a cost element, but theres a cost of not doing it. FOOD FLAGSHIP IN SURPRISE SUCCESS $8K PER MONTH LOSSES CLOSE GBS AVOURITE EATERY Checkers owner terribly stunned by businesss achievements In cooling off period following $3.5m expansion Joe Farrington location performs beyond expectations Compensates for 30-40% Robinson Road sales dip SEE page 6B TRAW THAT BREAKS THE CAMELS BACK Slack businesses more susceptible to internal theft, private sector leaders warn An aware businessman is less of a target, says Checkers chief SEE page 4B By NATARIO McKENZIE Tribune BusinessR eporter n AMENDMENTS to the C ustoms Management Bill which are expected to provide for oversight of the scrap met-a l industry, are expected to b e gazetted soon, the Minister the Environment told Tribune B usiness yesterday. Earl Deveaux said: The Customs Management Act was amended on November 4 That Act provided for Customs to bring oversight to the s crap metal business. The information I received from the Cabinet Office this morning was the Act would be gazetted today or tomorrow. Under the Customs Management Bill, the Comptrollero f Customs is mandated to establish a special investiga tion unit within the Customs D epartment to probe and inspect proposed shipments of scrap metal before they canb e shipped between islands or exported from the Bahamas. Copper will be held for a s pecified period of time. Persons will have to produce a document which establishes a chain of custody to show how they came into possession of metals such as copper, aluminum and bronze, MrD eveaux added. The Cabinet Office issued a statement on November 1, s tating that the 90-day tem porary ban on the export of scrap metal, which was imple m ented on 27 July, would be Owner blasts GBPA, saying Port Lucaya r ents double what they should be Sa ys calls f or 25-40% cut fell on deaf ears Hits at GB P ower over $35k monthly f ood stor e bills SEE page 5B SCRAP METAL REGULATIONS PUBLICATION TO COME SOON SEE page 5B SEE page 4B K a m r a n S a r a f / W i k i m e d i a C o m m o n s T HEENTRANCE to the Grand Lucayan HUTCHISON CHIEF: GRAND LUCAYAN IN PERILOUS POSITION Conglomerates worldwide Ports head says frankly desperate to slash resors power bill Says tribute to Hutchison that it has subsidised propertys annual tens of millions l osses for so long E ARL DEVEAUX


BUSINESS PAGE 2B, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE ByLARRYGIBSON W HENParliament meets next w eek, the most contentious m atter on the House of Assemblys agenda will be the 2011 report of the Constituencies Commission of the Bahamas. From all accounts, the report recomm ends that the number of c onstituencies (seats in Parliament) be reduced to the constitutional minimum of3 8. T his is down from the curr ent 41 constituencies. I go o n record as saying that I have always felt that we have, for years, been overrepresented in Parliament given our population size and the type of representation that has been thrust u pon the Bahamian people. I f you check the actual attendance, contribution and v oting records of many M embers of Parliament, p ast and present, you would see absolutely no evidence of any meaningful contribu-t ion to nation building, policy contribution or real service at the national or community level. B ased on 38 seats, each elected Member of Parliament (MP 8 ,250 persons on a per capit a (general population b asis, or about 3,300 persons on a registered voter basisn ationally. New Providence i s said to have around 96,000 registered and 23 proposed seats, for an average of 4,170v oters per constituency. For comparison purposes: GROSS HYPOCRISY A s with the report of every single Constituencies Commission, there is the cryo f gerrymandering by opposition forces no matter who it is. I say that the moste gregious feature of this charade is not gerrymandering, but rather hypocrisy of the highest order. Notwiths tanding the noise in the market, successive governments have held the right to f ix boundaries as their trump card, and none seem t o have any intention whatsoever to change things when they are in power. W e know that if we are to truly deepen democracy in o ur Bahamaland, an independent Constituencies Commission should be puti n place. The reality is that we do not yet seemingly p ossess the required level of political maturity to even contemplate what is r equired. Until we have such resolve, all we can really do i s to receive the Constituencies Commission report, say well done and move one. Clearly, this is a critical area in need of urgent reform and nobody is demanding better. I note that the British just ice, Lord Hailsham, r eferred to the Westminster model of Parliamentary democracy as a form of elective dictatorship. Almost inevitably, members who disagree with the party line f ace expulsion if they do not c ross the floor first, thus minimising effective debate and recommendation forc onstructive changes and a mendments. History has s hown that very rarely are B ills presented to Parliament, then withdrawn or changed significantly, despite efforts at pointing out major shortcomings. The proposed Constituencies Commission R eport is one such Bill that w ill come before Parliament, and as the saying goes: To t he victor goes the spoils. S o it will be passed, despite t he fact that it will eliminate some MPs own seats or chances of ever being re-e lected to that seat. INDEPENDENT BODIES I recognise that there is l ittle confidence in the functioning of many independent appointed bodies in o ur society. Sadly, in many c ases, this scepticism is jus t ified. Nonetheless, because we struggle with them doesn ot mean we should aban d on them. We must keep trying until we succeed. The WILL ANY PARTY OVERTURN SUCH GROSS HYPOCRISY? FINANCIALFOCUS LARRYGIBSON COUNTRY #MPSPOPULATIONPER CAPITA J amaica 6 0 2,800,00046,700 Trinidad 41 1,400,00034,000 Barbados30280,0009,300 B ahamas38314,0008,250 S EE page 3B


o perative phrase is independent, which must be developed over a period oft ime, especially in a polarised political climateand culture such as ours. C ONSTITUTIONAL P ROVISIONS Article 69 (2 composition of the Con-s tituencies Commission: The Members of the Com mission shall be(a bly speaker who shall be Chairman; (b Supreme Court who shall be Deputy Chairman and shall be appointed by the Governor-General acting on the recommendation of the Chief Justice; (c House of Assembly who shall be appointed by the Governor-General acting in accordance with the advice of the Prime Minister; and (d House of Assembly who shall be appointed by the G overnor-General acting in accordance with the advice of the Leader of the Oppo s ition. Article 69 (6 decision of the Commission shall require the concurrenceo f not less than three mem b ers of the Commission. As the Speaker of the Lower House, under theW estminster system, is appointed by the Government of the Day, the incum bent party controls the out come of the Report. The full report must then be passed by Parliament. Unless an incumbent government has dissension within its ranks, it really has the ability to set the boundaries as it pleases. Article 70 (2 framework for constituency adjustments: In carrying out a review for the purposes of this Arti cle, the Commission shall be guided by the general consideration that the number of voters entitled to vote for t he purposes of electing e very member of the House of Assembly shall, so far as is reasonably practicable, bet he same and the need to take account of special consideration such as the needs of sparsely populated areas,t he practicably of elected members maintaining contact with electors in such areas, size, physical features, natural boundaries and geo graphical isolation. H owever, for the sake of b alance, let me clearly state that all realignments to date have been in full compliance with the Constitution of the Bahamas and fully legal. CONCLUSION Once there is a general equality of voters per constituency and deviations to the equality principle can be justified, then there is really nothing to complain about under the existing system. Rather than complaining in the press, Opposition forces need to take their case to the people by working their constituencies. The Bahamian people need to s end a clear message back t o all political parties direct ly, and through their operatives, that the system oughtt o be changed. Finally, if this hypocrisy is to end, political parties need to commit formally toc hange the existing system by making this a Manifesto Pledge. However, if I had to bet a dollar,I doubt that any party will take up this challenge. So the status quo will remain a mid the meaningless r hetoric. Until next week NB: Larry R. Gibson, a Chartered Financial Analyst, is vice-president pensions, Colonial Pensions Services (Bahamas subsidiary of Colonial Group International, which owns Atlantic Medical Insurance and is a major shareholder o f Security & General Insura nce Company in the Bahamas. The views expressed are t hose of the author and do not necessarily represent those of Colonial Group I nternational or any of its s ubsidiary and/or affiliated companies. Please direct any questions or comments tor bs BUSINESS T HE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 3B CONDO FOR SALE St. Albans Drive off West Bay St.Beautiful 3 storey town house, 2 bed, 2 1/2 bath in private gated property, swimming pool, rec. area Interior, nished to your taste with stainless steel appliances, granite tops etc. End Unit $225,000.00 Middle Unit $217,000.00 Tel: 436-4697 | 396-0042 | 324-1257 US GOLD LTD IS NOW BUYING SILVERUS GOLD IS ALSO GIVING AWAY CASH PRIZES THIS CHRISTMAS!!!Come into out Robin Hood or Marathon Mall location, complete a transaction and receive a ticket to win GOLD HARD CASH right in time to do your Christmas Shopping.We are not a pawn shop!We are the highest paying gold and silver buyers in the Bahamas! We have several covenant locations to serve you: Robin Hood 431-3847 Bay Street 445-7427 Marathon Mall 431-3847 Village Road 428-8366 Carmichael 434-0802Remember No One Pays More!The Management & Staff of US GOLD LTD would like to wish all of their clients a Merry Christmas and a prosperous New Year. FROM page two WILL ANY P ARTY OVERTURN SUCH GR OSS HYPOCRISY? By NATARIO McKENZIE Tribune Business Reporter n BAHAMIAN sports tourism is expected to receive a significant boost from the revival of Bahamas S peed Week, organisers said yester d ay, with a number of high spending individuals expected to attend the fived ay event. The Bahamas is also expected to benefit from the media frenzy surrounding the event, particularly from European media agencies attracted by t he presence of racing legend, Sir Stirling Moss, after a 50-year absence. B ahamas Speed Week, which is d esigned to be a revival of the motor racing golden age of the late 1950s1960s in Nassau, will be held from N ovember 30 to December 4, and will feature eight events during that span. Forty-five cars valued at well over $100 million are expected to be pre s ent. Minister of Tourism, Vincent Van d erpool-Wallace, told Tribune Busin ess that the Speed Week model was one that would work well for the Bahamas sport tourism sector. This model is precisely what we want to see in all of the areas of sports tourism. One of the things we are verym uch aligned to is having a whole season of events. What we have discovered a long time ago is for the Ministry of Tourism to be solely responsible for these events, we simply do not have the capacity to do it. What we h ave here is a general model for what w e would like to see happening, the Minister said. He added: Obviously associating o urselves with those kind of events that our high spending, high quality visitors like going to is something we s hould be expanding on. We dont like getting involved in one-off things. We want to see something that has sustainable momentum over many years, s o we are looking for annual events, and also people who are looking to m anage those annual events. B ahamas Speed Week president, Jimmy Lowe, could not say yesterday how much had been invested into the event, but told Tribune Business: I can say it is well in the six-figure range, in the top end. M r Lowe said the event was part of a vision to bring Speed Week back to Nassau after nearly 50 years. Its been a roller coaster ride, but at the end of the day I think seeing the cars back in Nassau will be worth it, he added. O rganisers said yesterday that ticke ts for the event, ranging from $20 to $400, have nearly sold out, with part of the proceeds going to The BahamasC ancer Society, The Ranfurly Home for Children, Teen Challenge and the AIDS foundation. T he five-day event, which includes a free day for visitors to relax and explore the island, will conclude with the Arawak Cay Sprint day, a 1.1 mile r ace around Arawak Cay. SPEED WEEK AT TOP END OF SIX -FIGURE INVESTMENT Dear Mr Hartnell I refer to your recent article in The Tribune, concerning our resort, newly named Grand Lucayan a Radisson resort. I would like to clarify some of the content, which might otherwise cause some confusion in Grand Bahama island. A s you may know, I have been personally associated with developments on Grand Bahama for a number of years, indeed since the beginning of sour groups involvement with the Container Port, and my heart is as ever, happiest when I am there. As you will also be aware, in order to see whether through cost sharing between the various Hutchison entities it might be possiblet o turn around the hotels, I became involved with a somewhat large r portfolio earlier this year. T hrough a number of Town Hall meetings and direct discussions with those involved, we have been quite frank as to the problems facing the resort. We have, as reported, attempted to reduce costs whilst at the same time seeking new markets. This has not been easy in thec urrent economic climate, but we are trying our best and have m ade fledgling efforts to attract visitors from Latin America, European and even Far East originations. We have from the start been quite open as to the level of losses sustained at the hotel, which amount annually to some tens of millions of dollars. A s we all know, any other local establishment losing that amount would have closed years ago, and it is a tribute to the Group that it has kept the hotels open despite these heavy annual losses. We haveb een encouraged by the support of the Bahamas Government, who c ontinue to assist in the marketing of Grand Bahama Island, and they f ully realise our dilemma. We have this year made some minimal inroad into those losses. We have by careful husbandry reduced our power bill, but not nearly enough to make a material difference, and we are frankly desperate to seek a way to lower electricity costs at the resort. W e have also reduced costs by closing the Reef hotel. This has had a negative impact on the local community, and we would love to see it reopened subject to improved visitor numbers. To effect this we would need to put in place a competitive regime, and that can only come about through the support of all involved and, in particular, those working in this industry. When all is said and done, we need to meet the needs of our share h olders, and that means returning the properties to a sustainable, positive bottom line. We are now at a point where everyone who has an interest in the future of Grand Bahama Island needs to realise thep erilous position the resort faces, and to acknowledge the historical support of the investors and what is needed to continue that support. The resort has many long-serving, dedicated staff whom I know e arnestly seek to help in the turnaround, and have asked me pers onally what they have to do to help. Might I take this opportunity to thank them. The continued encouragement of the Government of the B ahamas, and that of the Prime Minister especially, in constantly seeking ways to support Grand Bahama Island, is specially worthy of acknowledgement by the Hutchison Group. Yours sincerely Dr John E MeredithG roup Managing Director H utchison Port Holdings ADDRESSING GRAND LUCAYAN DILEMMA LETTERTOTHEBUSINESSEDITOR


Persons in many cases find that theyre not pre p ared to make the initial investment upfront, but six months down the road say: Boy, I wish Id done somet hing then. Finding out after the fact is not the way to go. Mr Rolle said a joint sur v ey of the private sector, conducted by the Chamber and accounting firm KrYsG lobal, found that crime and the response to the criminal threat was one of the key priorities dominatingB ahamian business strategy and decision-making. While all companies were eyeing cost-cutting and rev enue-enhancing strategies to ride out the recession, the BCCEC chairman said: Crime is very much up there. The response from the survey shows a number of b usinesses have taken addit ional measures, from various perspectives, to prevent themselves from being affected by criminal activities in these tough times. At this time businesses a re trying to manage costs and increase revenues, and any impact from a criminal perspective could be thes traw that breaks the camels back and put you out of business if its not done proper ly. Gus Cartwright, proprietor of the Checkers Cafe chain, and chairman of the National Crime Prevention Committee, said it was vital for business owners/entrepreneurs to be aware if they were to stop internal theft driven by rogue employees. Suggesting that this was often a crime of opportunity, where workers succumbed to temptation if the proper checks and balances were not in place, Mr Cartwright said it was important that staff knew their employer ran a secure operation. Fear of being detected was a powerful deterrent to inter nal theft, the Checkers proprietor said, adding that inventory was often an area w here major leakages took p lace. The type of problems we have seen is probably midnight break-ins, Mr Cartwright said of his own business. That has gone upt his year more.... You bar up your place, put in all the measures, but that does not mean they are full proof. The crime you have to pay a lot of attention to is inventory control. The only way to survive in hard times in this economy is to control inventory as much as you can, to stop leakages as much as possible. My perspective on this is protection, not only from a criminally-minded society, but people with criminal intent inside the business, Mr Cartwright said. Our panel will share with the public ways and means of implementing protection against [employee theft], and for employer protection. If you run a slack operation, you will find this type of thing occurring. We want to make the public, and small and medium-sized business es, aware of things to look for and guard against. Theres measures you can p ut in place to stop staff f rom becoming criminally minded. You put in checks and balances to ensure they know you run a secure operation, and that if they cross the line they will be foundo ut. When it came to the extra costs incurred by Bahamian businesses to protect them-s elves against both internal and external criminal threats, Mr Cartwright said the mon etary aspect was not always the most important. He explained: There is a cost, but remember that protection costs do not always have a monetary effect..... It does not have to be a large amount of money, but knowledge. An aware businessman is less of a target than an unaware one. Its not always a large amount of money that you need to protect yourself, your family and your business. Mr Rolle, meanwhile, said the joint Chamber/KrYs Global survey had revealed that internal stealing was among the top concerns for many Bahamian companies, especially those in the retail sector. From the initial survey results we saw, one of the greatest concerns for business persons is white collar crime, or more specifically, employee theft, he added. The numbers vary from small to significant, speak ing to persons in retail establishments. Mr Cartwright added that the National Crime Committee and Chamber had to be involved from all perspectives on the criminal front, and not just be focused on the impact on the business community. Focus also had to be placed on the security of Bahamians home surroundings, Mr Cartwright adding: Were not only concerned about businesses themselves. Businesses will not function properly if they do not have potential cus tomers. If customers are not free to move about, it will wreak havoc on the business community. the Hong Kong-based conglomerate was frankly desperate to reduce the propertys power bill. I n an e-mail, reproduced on Page 3B i n Tribune Business today, Dr John Meredith, group managing director for Hutchison Port Holdings, said it was a tribute to the Hong Kong conglomeratet hat it had subsidised the Grand Lucayans heavy annual losses amounting to tens of million dollars annually for so long. We have from the start been quite open as to the level of losses sustained at the hotel, which amount annually tos ome tens of millions of dollars, he told Tribune Business. As we all know, any other local e stablishment losing that amount would h ave closed years ago, and it is a tribute to the group that it has kept the hotels open despite these heavy annual losse s. While some minimal inroad had been made into these losses, afterr esponsibility for the Grand Lucayan w as placed under Hutchisons Port group, Dr Meredith told Tribune Business more needed to be done. We have, by careful husbandry, reduced our power bill, but not nearly enough to make a material difference,a nd we are frankly desperate to seek a way to lower electricity costs at the resort, Dr Meredith revealed. We have also reduced costs by closing the Reef hotel. This has had a nega-t ive impact on the local community, and w e would love to see it reopened, subject to improved visitor numbers. To effect this we would need to put in place a competitive regime, and that can only come about through the support of alli nvolved, and in particular those working in this industry. Then, in what could be interpreted as a warning that Hutchison might close the Grand Lucayan if its heavy loss-making was not turned around, Dr Merediths aid: When all is said and done, we need to meet the needs of our shareholders, and that means returning the p roperties to a sustainable positive bott om line. We are now at a point where everyone who has an interest in the future of G rand Bahama island needs to realize the perilous position the resort faces, and to acknowledge the historical supp ort of the investors and what is needed t o continue that support. Dr Merediths e-mail said it repre sented his personal views, and were not t hose of Hutchison Port Holdings, but the concerns are clear. It appears to have been prompted by Tribune Businesssa rticle on Friday, which addressed the G rand Lucayans situation. He also confirmed that Hutchison was exploring new markets in Europe, Latin A merica and Asia in a bid to turn the Grand Lucayan around, as well as the fact that Hutchisons Ports group has taken responsibility for the hotel following a restructuring that aimed to cutc osts. We have, as reported, attempted to reduce costs whilst at the same time seeking new markets. This has not been easy in the current economic climate, but we are trying our best and havem ade fledgling efforts to attract visitors from Latin America, European and even Far East originations, Dr Meredith toldT ribune Business. As you will also be aware, in order to see whether, through cost sharingb etween the various Hutchison entities, it might be possible to turn around the hotels, I became involved with a somew hat larger portfolio earlier this year. G ary Gilbert, the Freeport Container P ort's (FCP bune Business on Friday that the cons olidation of the Grand Lucayan's operations into the Manor House property had slashed the resort's electricity bill. M arch's downsizing, which saw the layo ff of some 200 workers, reduced the Grand Lucayan from 1,200 to 500 rooms, and the staff to 550 full-time and 200c ontracted employees. Mr Gilbert said: "We've significantly reduced the losses already through as trong focus on the cost structure. Have we turned it around? Have we taken it to profitability yet? No, but we've done a number of things to stem t he losses. "We've been able to save a significant amount of money, significant, but we are still not at a profitable state. BUSINESS PAGE 4B, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE Employment Opportunity AIRPORT SUPERINTENDENTROLE: Supervise Airport plant operations to ensure safe and correct receipt, storage and distribution of the Companys aviation products and required activities are carried out in accordance with the companys operating procedures; provide procedures and guidelines to ensure that operations (receipts, storage and distribution) are performed safely, efIHFWLYHO\DQGHIFLHQWO\&UHDWLQJVDIHDQGKHDOWK\HQYL ronment for all personnel involved with airport operation/ activities. REQUIRED EDUCATION, EXPERIENCE & SKILLS: %DFKHORU'HJUHHLQ(QJLQHHULQJ,QGXVWULDO(OHFWULFDORU Mechanical)or a Related Field 0LQLPXPRI\HDUVRIH[SHULHQFHLQDUHDRIVWXG\ 0XVWSRVVHVVVWURQJLQWHUSHUVRQDOVNLOOVZLWKH[FHOOHQWRUDO DQGZULWWHQFRPPXQLFDWLRQVNLOOV 6WURQJRUJDQL]DWLRQDODQGDQDO\WLFDOVNLOOV 0XVWKDYHWKHDELOLW\WRPDQDJHPXOWLSOHSULRULWLHV 0XVWKDYHVWURQJFRPPLWPHQWWRPDLQWDLQLQJKLJK Standards 6WURQJOHDGHUVKLSDQGFRDFKLQJVNLOOV 5HVXOWVGULYHQ,I\RXIXOOOWKHSRVLWLRQVUHTXLUHPHQWVSOHDVHVHQG\RXUUHVXPH E\HPDLOWRUHFUXLWPHQWEDKDPDV#\DKRRFRP( r2QO\VKRUWOLVWHGFDQGLGDWHVZLOOEHFRQWDFWHGr NOTICE I N THE ESTATE OFGEORGE BAKER late of Sea Fan Drive, Sea Breeze Estates, New Providence, one of the Islands of the Commonwealth of The Bahamas Deceased NOTICE is hereby given that all persons having any claim or demand against the above-named Estate are required to send the same to the undersigned on or before the 13th day of December, A.D. 2011 a nd if so required by notice in writing from the undersigned to come in and prove s uch demand or claim or in default distribution made before such debts are proved; AND NOTICE is hereby given that all persons indebted to the said Estate are requested to settle their respective debts at the chambers of the undersigned on or before the date hereinbefore mentioned. Dated the 17th day of November, A.D. 2011 CALLENDERS & CO. Chambers, One Millars Court, P.O. Box N-7117, Nassau, The Bahamas Attorneys for the Personal Representative Legal Notice NOTICETHE LIQUIDATION FUND LIMITEDNOTICE IS HEREBY GIVEN as follows: (aThe Liquidation Fund Limited is in dissolution under the provisions of the International Business Companies Act 2000 (bThe dissolution of the said Company commenced on the 26th October, 2011 when its Articles of Dissolution were submitted to and registered by the Registrar General. (cThe Liquidator of the said Company is Christopher Meyering of Sciens Capital Management LLC, 667 Madison Avenue, New York, NY 10065. Christopher P. Meyering Liquidator THE Tax Information Exchange Agreement (TIEA came into force last week will further cement the relationship between the two countries it was stated yesterday. I n a bulletin from the law firm of Higgs and Johnson i t was stated: The TIEA will ensure that the dividend p rofits of Bahamian companies with Canadian parents are only taxed upon repatriation to Canada. It will allow Canadian companies to take advantage of the human resources and infrastructure which the country offers and does not impose significant conditions on the Bahamian affiliates. The firm added: The Bahamas has long-standing economic links to Canada, particularly in the f inancial services and hospitality sectors and it is thought that the TIEA will further cement the relationship between the two countries. The Bahamas now has signed 28 TIEAs altogether including 18 with OECD member countries. Many Canadian companies are reportedly looking to capitalise on the opportunity, and want to do business in the Bahamas. Barbados is a jurisdiction that has a 'double tax' t reaty with Canada, and therefore has been a place w here Canadians have created foreign operations. T he new TIEA between the Bahamas and Canada w ill put the Bahamas on an equal footing with Barbad os with respect to tax incentives. T he Bahamas-Canadian TIEA was signed in June 2010. The Bahamas' International Tax Cooperation Act 2 010 is the enabling legislation for the TIEAs this jurisdiction has signed. BAHAMAS AND CANADA TIEA WILL CEMENT RELATIONSHIP HUTCHISON CHIEF: GRAND LUCAYAN IN PERILOUS POSITION FROM page one TRA W THAT BREAKS THE CAMELS BACK FROM page one


Lucaya Marketplace was over-saturated with restaur ants, some 29 all competi ng against each other for a market that has shrunk. got fed up with losing $ 6,000-$8,000 a month out of my own pocket, and said: To hell with it. We closed ita t the end of October, Mr B utler told Tribune Business of Shenanigans. Anybody in Grand Bahama will tell you it had the best food, friendly service at the best prices. How m any persons do you know that lose $8,000 a month for two years and stay in business? Some three-four workers laid-off had been absorbedat Butlers Food World, w hile many others also held other jobs, he added. Mr Butler also expressed frustration with the Grand B ahama Power Companys r elatively high electricity c osts, questioning how the m onthly bill at Butlers Food World could be almost three t imes higher than that for h is food wholesale business, which had more compressors. Our major problem on Grand Bahama is the Power C ompany, he told Tribune B usiness. I dont know how t hey do their meters, but at t he supermarket the bill is more than $35,000 a month. I have more compressors d owntown at my wholesale place than here at the supermarket, and my bill there is $12,000. How do you go from $12,000 to $35,000. Ill c lose everything. M r Butler added that the G overnment appeared to h ave a hands-off attitude to Freeport due to the G BPA and existence of the H awksbill Creek Agree ment, but said the latter organisation had notb rought in one new investor in five years. Theres nothing here. Theres no investors, he told Tribune Business. T HE Bahamas International Stock Exchange (BISX announced yesterday that Fidelity Bank (Bahamas successfully completed the listing process for its Series A preference shares. I n a statement by BISX yest erday it was stated that the shares are now listed on the Exchange under the symbol FBBA. Roster T he shares have been added t o the roster of securities listed on the Exchange and will trade t hrough the BISX Automated T rading System (BATS i s able to list the secondary issues of BISX listed companies with the Fidelity Bank ( Bahamas) Limited Series A Preference Shares becoming the sixth securities to take advantage of this listing facility. Secondary I ssues includes any s ecurities issued by an already public company after their initial public offering. A nwer Sunderji, Chief Executive Of Fidelity Bank said: The successful p lacement of $10 m illion of these securities posit ions the bank to continue on its a sset growth trajectory, which h as resulted in the banks profitability rising sharply in recent months. He added, We are d elighted with the listing on BISX as it will hopefully provide liquidity and greater transparency for investors. Speaking about t he FBBA listing, K eith Davies, the BISX Chief Executive Officer, stated: Fidelity Bank (Bahamas h as a long history with the Exchange, and we are happy to w elcome this new i ssue from them. T hey were the first company to l ist debt on the Exchange and t he listing of these Series A Prefe rence Shares represents the sixth security that Fidelity Bank (Bahamas w ith us, their having already listed their ordinary shares and four tranches of Medium Term Notes. Investors Mr Davies added: The fact that Fidelity Bank (Bahamas L imited has listed all of these s econdary issues on the E xchange, we believe reflects the fact that they see the value that accrues to a securities investors from a listing on BISX. I nvestors benefit from increased l iquidity, transparency in pricing, and a centralised location f or buyers and sellers. We are pleased that Fidelity B ank and other responsible issuers continue to seek out a BISX listing for their securities. BUSINESS T HE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 5B APD LimitedTENDER NOTICEThe Arawak Port Development Ltd. (APDinvites sealed Tenders from eligible tenderers for the APD Inland Terminal Access Road Paving, Grading and Drainage Project. The project includes the construction of approximately 3,100 feet of new road from Fire Trail Road (West) to the new APD Inland Terminal Warehouse Facility. Tender Documents in electronic format may be collected from the address below, between 10:00 AM and 4:00PPM, commencing Wednesday 23 November 2011. This tender is only open to contractors with the suitable experience and expertise in road construction. Interested persons may obtain a tender package from the following address: Arawak Port Development (APDAPD Arawak Cay Nassau, Bahamas Telephone: (242 Fax: (242 Completed Tender Documents must be enclosed in a sealed envelope, clearly marked, CONFIDENTIAL TENDER APPLICATION FOR APD INLAND TERMINALACCESS ROAD PAVING, GRADING AND DRAINAGE PROJECT and shall be submitted to the APD at the address above before 11 AM on Wednesday, 30 November, 2011. Late submissions will not be accepted. APD reserves the right to accept or reject any or all proposals. N O T I C ENBVD LIMITEDN O T I C E IS HEREBY GIVEN as follows: (a)NBVD LIMITED is in voluntary dissolution under the provisions of Section 138 (4 Business Companies Act 2000. (bThe dissolution of the said company commenced on the 11th November, 2011 when the Articles of Dissolution were submitted to and registered by the Registrar General. (cThe Liquidator of the said company is B lue Seas Administration Ltd., The Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, BahamasDated this 22nd day of November, A. D. 2011 _______________________________ Blue Seas Administration Ltd. Liquidator extended by two weeks to November 11. It was expected that by that time, the Pawnbrokers and Second-hand Dealers Act 2011, which aims to regulate the export of scrap metal, would have taken effect. Undert he provisions of the Act, business owners or dealers engaged in the export of scrap metal will have to verify the identity of customers and maintain records of all transactions. Scrap metal export businesses are also subject to monitoring by a police-designated a dministrator. The Government placed the t emporary ban on the scrap metal trade, while imposing a permanent ban on all copper exports, in an effort to curb the theft and destruction of property said to be linked with the industry. E verette Rolle, proprietor of Caribbean Recycling and Trading Solutions, told Tribune Business yesterday: We are just waiti ng to see what happens. We havent really h eard anything. We dont know what is happening but we are being patient. $8K PER MONTH LOSSES CLOSE GBS FAVOURITE EATERY Shar e your news The Tribune wants to hear from people who are m aking news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the a rea or have won an award. If so, call us on 322-1986a nd share your story. FROM page one FIDELITY BANK COMPLETES THE LISTING PROCESS FOR SHARES Scrap metal regulations publication to come soon FROM page one KEITHDAVIES


WASHINGTON Associated Press C REDIT rating agency Standard & Poor's says it will not downgrade the U.S. government's creditr ating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the nextd ecade. S&P in August cut its rating of long-term U.S. Treasury securities by onen otch from AAA to AA+, the first such downgrade of U.S. government debt in history. I n a brief statement Monday, S&P said it did not plan a further down grade of the rating based o n the supercommittee's failure to agree on a plan. But S&P warned that its present rating is based ont he expectation that automatic cuts will take effect in January 2013. Some Republicans are vowing tob lock the defense spending cuts. N ew Providence Road Improvement project. E xplaining that the roadworks impact caused himself and Checkers management to pay attention to what is really going on in your busi-n ess, Mr Cartwright said: We had a meeting with staff, and noticed areas affected by the change in infrastructure were down 30-40 per cent. The store we had affected the most was the RobinsonR oad/East Street store, which w as in the heart of everything. We had to pay a lot of attention to it, keep it from dying, and pay special attention to that. As a result, Mr Cartwright s aid Checkers aimed to maint ain, and pick up market share from its three outlets not impacted. Hopefully, some of the other stores picked up some of the slack,h e added. Outlining Checkers e mployee-focused philosophy, w hich ensured no lay-offs resulted from the roadworksinduced top-line drop atR obinson Road, Mr Cartwright said: We believe that over the years we should be able to take a blow. We shouldnt use the first opportunity, if weve had g ood staff with us for a while, t he minute we have some difficulty to show them the door. Thats not our way of doing business, and we believe we should weather the storm with you as long as we can. The brunt of the storm is now o ver. A nd Mr Cartwright said the Checkers Cafe/Sunrise laundromat on Joe Farrington Road, for example, had been impacted in a positive wayb y the roadworks causing the closure of Prince Charles Dri-v e, which has diverted more traffic flow past his location. Our business has expanded more from the difficulty ofo ther businesses, he acknowledged. Able to b enchmark Joe Farrington R oads performance against its fellow Checkers locations, Mr Cartwright said: Weve gone a bit beyond expecta-t ions. Between the four stores w e have right now, it seems to be in third place as far as growth is concerned. Any business that can pay its bills, its a big celebration in terms of this economy. Mr Cartwright said that a cquiring the land and buildi ngs at Joe Farrington Road, then outfitting them into a diner and laundromat respectively, had resulted in Checkers making an investment of close to $3.5 million. While he had been teased f or expansion into Freeport and Abaco, the Checkers proprietor said the successful Bahamian business, a majorp layer on the local restaurant landscape, was now taking s tock and consolidating the g ains from Joe Farrington Road before making any fresh moves. We see ourselves going t hrough, right now, a period of regrouping from all this e xpansion, Mr Cartwright told Tribune Business. We did Carmichael Road first, expanded that, and two years later, finished and opened Joe Farrington Road. Were going through a rest p eriod, so no matter what the a ccountants say to me, Id be reluctant to make any decision to expand..... Id like to call it a cooling-off period. Although not on the horiz on in the short to mediumterm, Checkers has not ruledo ut moves into the Family Islands via some form of franchise/joint venture partnership agreements. I feel like theres a possibility we may expand, but we w ould move forward with it e xtremely cautiously, Mr Cartwright told Tribune Business. From visiting, there may b e one or two Family Islands, but we would prefer to joint p artner with someone in those communities. If we do go into the Family Islands, we would share our expertise in all that we do and try to make it a huge success. As long as we get our name up there, we will s tand for more than opening a B ahamian restaurant, we will stand for a Bahamian Checkers restaurant, and thats important. Through being in the busin ess of selling food and drink, and keeping clothes clean, MrC artwright said Checkers and Sunrise had positioned themselves as necessity businesses, providing products ands ervices all Bahamians needed. H e pointed out that Checke rs, which opened its first restaurant on Mackey Street in 1989, was now strategically located to cater to the fours ectors of New Providence, with Carmichael in the west, Joe Farrington Road in the east and Robinson Road in the south. Given New Providences g rowth and heavy vehicle volumes, Mr Cartwright said C heckers needed to take its products to where Bahamians lived, rather than expect them to come to the restaurants. If youre in Mackey Street, y ou need to go to the heart of Over-the-Hill. If youre selli ng an indigenous product, you need to go to the masses, he added of Checkers early philosophy. Reflecting on 22 years of controlled expansion and suc-c ess, Mr Cartwright told Tribune Business: Ive been terribly surprised with the success of Checkers. We sell a local product, and we compete against mammoth giants. This food business, it is not o ut there for any specific person. It is a wide open field, and for us just to be effective today is a success story in itself, and to be able to carry the flagship of Bahamian food. He added: Were very fort unate. I honestly believe that w e, as a business, have made the Bahamas proud of B ahamian food. We have m ade our country proud. S omeone can stand up and make Bahamian food work, and make it into a real busi-n ess. BUSINESS PAGE 6B, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE N O T I C E ____________ GUN POINT INVESTMENTS LIMITEDThis is to inform the General Public that all that private thoroughfare or roadway known as Gun Point situate northeastwards of the Settlement of Spanish Wells at the northwestern end of the Island of North Eleuthera will be closed to the public from 6:00 a.m. on Sunday, 27th November, 2011 to 6:00 a.m. on Monday, 28th November, 2011 to protect the right of ownership.Everette Sands President NOTICE International Business Companies Act No.45 of 2000DITCHLING PROPERTIES LIMITED (the CompanyN otice is hereby given that, in accordance with Section 1 38 (8Business Companies Act, No.45 of 2000, the Dissolution of DITCHLING P ROPERTIES LIMITED has been completed, a C ompany has therefore been struck off the Register. The dateof completion of the dissolution was the 16th d ay of August, 2011. Alrena Moxey Liquidator NOTICE International Business Companies Act No.45 of 2000SPRINGHILL CORPORATION (the CompanyNotice is hereby given that, in accordance with Section 138 (8Business Companies Act, No.45 of 2000, the Dissolution of SPRINGHILL CORPORATION of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 19th day of September, 2011. Fernando Elias Liquidator NOTICE International Business Companies Act No.45 of 2000 TELEQUIPMENT CORPORATION (the CompanyNotice is hereby given that, in accordance with Section 138 (8Business Companies Act, No.45 of 2000, the Dissolution of TELEQUIPMENT CORPORATION of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 19th day of October, 2011. Miguel Angel Graa Villar Liquidator FOOD FLAGSHIP IN SURPRISE SUCCESS FROM page one S&P S A YS NO CUT PLANNED IN US CREDIT RATING


N EW YORK Associated Press THEstock market was not exactly surprised that a so-called supercommittee in C ongress failed to reach a d eal to cut the federal budget deficit. But since summer, investors have sold at the first hint of trouble. So on Monday, they sold big. The Dow Jones indust rial average lost almost 250 p oints on a day when investors despaired over debt problems at home and abroad. Members of the special c ommittee, created in A ugust to come up with $1.2 trillion in deficit cuts over 10 years, indicated all day that there would be no deal. After the market closed, the committee's bipartisan lead-e rship made it official. They're essentially givi ng up," said Robert Robis, head of fixed income macro strategies at ING Invest-m ent Management. T he supercommittee stalemate is supposed to trigger automatic spendingc uts across the government, but there were already hints that Congress would find a w ay around them. Analysts s ay that could lead to another downgrade of the U.S. credit rating. I n addition, the failure raises the question of how a gridlocked Congress willf ind a way to renew a cut in t he Social Security tax or agree on whether to extend long-term unemployment b enefits. Congress passed the tax cut last December for one y ear, and some lawmakers support extending it through 2012 because economic growth remains weak. Both measures would put cash in the pockets of Americans,who can spend it and help t he economy grow. The stalemate also shows lawmakers may not be able to make progress on any t hing budget-related in the coming months, said Robert Pavlik, chief market strate-g ist with Banyan Partners LLC in New York. "It shows that there's a b igger problem at hand, and if they can't work to resolve these relatively small yet meaningful issues, what'sg oing to happen if we get into a situation like Europe is in?" he said. "And we'rek ind of headed there." T he result was another day of heavy selling in a market that has grown used to big swings. The Dow finished down 248.85 points, or 2.1 percent, at 11,547.31. At its low point of the day, theD ow was down 342. Volatility seized the stock market in late July, when Congress was wrestling with whether to raise the limit on how much the federal government can borrow. T he Dow rose or fell 100 points or more on 15 trading days in August, 16 in September and 15 in October. Monday was its 10th tripledigit move this month, with six trading days to go. People are getting so short-term oriented now that all they know is how to make day trades," he said. T he selling swung the D ow from a gain for the year to a loss, the first time t hat has happened in a month. I n Europe, Moody's, a prominent ratings agency, w arned that France could f ace a downgrade because the debt crisis in Europe has p ushed borrowing costs higher for the French government. For now, France has a rating of AAA, the best. O ne European country a fter another has fallen into crisis because of debt. Wary of the ability of countriest o pay back their loans, b ond investors have insisted on higher returns on national bonds, pushing borrowing costs to dangerous levels. Stock indexes fell 3.4 percent in both Germany andF rance bigger declines than in the United States. Germany and France are the two largest economies in Europe. Investors still see American debt as safe, despite thef ailure of the supercommittee. On Monday, the yield on the benchmark 10-year Treasury note fell to 1.97 percent. It traded at 2.01 percent late Friday. Bond yields move down w hen bond prices go up. The higher demand for U.S. bonds Monday was a sign that investors believe int heir safety. T he Standard & Poor's 500 index dropped 22.67, or 1 .9 percent, to 1,192.98. The S&P 500 fell 3.8 percent last w eek, its worst since September. The Nasdaq comp osite index declined 49.36, o r 1.9 percent, to 2,523.14. Last week's steepest falls w ere Wednesday and Thursday, after Fitch, another ratings agency, warned that the European debt crisis could hit the l argest American banks. T he S&P 500 is down more than 5 percent for the year. On Nov. 15, it was still ups lightly. T he declines Monday were broad. Energy and technology stocks lost the most. All 30 stocks in the Dow average fell, led by Boeing Co. with a 4.7 percent decline. The dollarr ose along with U.S. Treasury prices. Gilead Sciences Inc. stock plunged 9 percent, the most in the S&P 500. The company plans to buy drugd eveloper Pharmasset Inc. f or $11 billion. Pharmasset, which has an experimental hepatitis C drug in latestage clinical trials, jumped almost 85 percent. Alleghany Corp. fell almost 7 percent after thep roperty and casualty insurer said it had agreed to buy the reinsurance company Transatlantic Holdings Inc. for $3.4 billion. Transatlantic edged up almost 1p ercent. I rish electronics company Cooper Industries PLC bucked the market trend, rising 2.6 percent, after S&P said it will be added to the S&P 500 index. Stocks often rally whent hey are added to major indexes, because investment funds that mirror the indexes must buy them. BUSINESS T HE TRIBUNE TUESDAY, NOVEMBER 22, 2011, PAGE 7B THE SUPERCOMMITTEE SELL-OFF: DOW LOSES ALMOST 250


SAN FRANCISCO Associated Press H ewlett-Packard Co. w as hurt in the latest q uarter by declines in several of its key businesses and heavy restructuring charges, a sign of the challenges confronting new CEO Meg Whitman. Net income plunged 91 percent to $239 million, or 12 cents per share, in the quarter ended Oct. 31. That's down from $2.54 billion, or $1.10 per share, in the same period a year ago. Excluding items, HP earned $1.17 per share. Analysts polled by FactS et expected $1.13 on that b asis. Meanwhile, revenue fell 3 percent to $32.12 bill ion. Analysts expected $ 32.05 billion. Trading H P shares fell 26 cents, or less than 1 percent, to $26.60 in extended tradi ng, after the results were r eported. In Monday's r egular trading session, the stock fell $1.13, or 4p ercent, to $26.86. W all Street believes HP's outlook leaves something to be desired. The company's forecast was lower than most analysts' targets. HP said it was being "cautious," w ithout immediately elaborating on the reasons for why. Analyst Brian White with Ticonderoga Securi t ies called the outlook "weak" but said the stock has some appeal in investors because of its previous declines. Indeed, the stock has fallen 40 percent since CEO Mark Hurd was ousted last year in an ethical scandal. "HP has valuation on its side and expectations are low, however, we believet his turnaround story will take time to play out and the darkening macroeconomic environment iso nly likely to hinder this cause," White wrote in a note to clients. T he profit decline in the latest quarter was caused in large part by $3.3 billion in charges for HP's earlier decision to kill its tablet and smartphone businesses, as well as oth-e r write-downs and acqui sition costs. Revenue in three of HP's biggest divisions personal comput e rs, printers and ink, and servers and networking fell as well. Revenue W hitman faces a real test as she attempts to pull together a conglom-e rate beset by growing pains and managerial strife. She is HP's third CEO in a year and a half.T hough HP is the world's l argest information tech nology company by rev enue, the company has had a hard time deciding whether it wanted to grow even bigger or start getting smaller. Hurd's successor Leo Apotheker was oustedt his year over his botched handling of key initiatives, particularly HP's plans to try and sell or spin off itsP C division. Those plans leaked early to the press. Whitman has now decidedt o keep the PC division. For the fiscal first quarter, HP expects earnings of 83 cents to 86 cents pers hare, excluding items. T hat was far less than the $1.11 per share that ana lysts expected on that basis. For the full fiscal year, HP expects earnings of at least $4 per share, exclud i ng items. Analysts expected $4.53 per share on that basis. BUSINESS PAGE 8B, TUESDAY, NOVEMBER 22, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.97AML Foods Limited1.181.180.005,0000.1480.0408.03.39% 1 0.639.05Bahamas 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% 10.468.29Cable Bahamas8.438.430.000.2450.32034.43.80% 2.802.33Colina Holdings2.342.340.003000.4380.0405.31.71% 8.508.33Commonwealth Brewery8.508.500.000.7400.00011.50.00% 7 .006.21Commonwealth Bank (S1 6.516.510.000.4960.32013.14.92% 2.001.63Consolidated Water BDRs1.691.66-0.030.1110.04515.02.71% 1.771.31Doctor's Hospital1.371.370.000.0740.04018.52.92% 5.504.75Famguard5.435.430.000.4980.24010.94.42% 7.504.82Finco4.824.820.000.7570.0006.40.00% 9 .457.75CIBC FirstCaribbean Bank8. 6 .005.00Focol (S 5.335.330.00500.4350.22012.34.13% 1.001.00Focol Class B Preference1. 7.305.58ICD Utilities7.307.300.00-0.1220.240-59.8 3.29%1 0.809.80J. 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. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00FINDEX: YEAR END 2008 -12.31%3 0 May 2013 20 November 2029 7 % RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 1 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%MONDAY, 21 NOVEMBER 2011BISX ALL SHARE INDEX: CLOSE 1,355.54 | CHG -0.03 | %CHG 0.00 | YTD -143.97 | YTD % -9.60BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320 5 2wk-Hi52wk-LowSymbolBid $ A s k $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 Fund2.4974-8.19%-7.45% 13.849313.2825Royal Fidelity Prime Income Fund13.91804.19%5.21% 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 Fund1.18773.59%4.94% 1.13431.0000FG Financial Growth Fund1.14152.06%4.07% 1.17641.0000FG Financial Diversified Fund1.18903.47%5.04% 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 210.3699-6.17%-2.17% 10.68139.6635Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.20631.81%7.39% 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 7/11/200731-Oct-11 31-Jul-11 31-Oct-11TO 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-Oct-11MARKET TERMS30-Sep-11 31-Oct-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities) BISX Listed Mutual Funds30-Jun-11 30-Sep-11 NAV 6MTH 1.535365 2.952663 1.580804 111.469744 115.762221 NAV Date 31-May-11 30-Sep-11 NOTICE is hereby given that EUGENE DIEUDONNE, of Earnest Street, Nassau, Bahamasis applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of November, 2011 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.NOTICE The Public is hereby advised that I, CHARLOTTE L EONAMAJORo f Lady Slipper Avenue, Garden Hills No. 2, Nassau, Bahamas, intend to change my name to CHARLOTTE LEONANEWMAN. If there are any o bjections to this change of name by Deed Poll, you may write such objections to the P.O.Box N-742, Nassau, Bahamas within thirty (30 the date of publication of this notice. INTENT TO CHANGE NAME BY DEED POLLPUBLIC NOTICE NOTICEis hereby given that JOVADO ORLANDO DIXON of EAST B AYSTREET, P.O. BOX FH-14029, NASSAU, BAHAMAS ,is applying to the Minister responsible for Nationality and Citizenship, f or registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22n dDAYofNOVEMBER, 2011 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.NOTICE NOTICEFlikom Holding Ltd.In Voluntary LiquidationNotice is hereby given that in accordance with Section 138(4Business Companies Act. 2000, Flikom Holding Ltd is in dissolution as of October 17, 2011. International Liquidator Services Inc. situated at 3rd L I Q U I D AT O R ______________________ NOTICEDAKFRAS INC.In Voluntary LiquidationNotice is hereby given that in accordance with Section 138(4Business Companies Act. 2000, DAKFRAS INC is in dissolution as of October 17, 2011. International Liquidator Services Inc. situated at 3rd L I Q U I D AT O R ______________________ NOTICENabuser Corp.In Voluntary LiquidationNotice is hereby given that in accordance with S ection 138(4Business Companies Act. 2000, NabuserCorp. is in dissolution as of November 11, 2011. International Liquidator Services Inc. situated at 3rd L I Q U I D AT O R ______________________ EMPLOYMENT OPPORTUNITYMessenger/Clerk(Males Only Need Apply) Duties RequirementsMUST FAX: 377-1366. HP PROFIT FALLS AS DECLINES AND CHARGES HIT RESULTS I N THIS SEPT. 20. 2010 FILE PHOTO the corporate logo for Hewlett-Packard Co., is displayed at an HP Innovation Summit, in New York. (AP