By KHRISNA VIRGIL A HARBOUR Island mother of six considers herself lucky to be alive after a nightmare pregnancy scare. Paula Percentie, 36, accused staff at the Princess Margaret Hospital maternity ward of almost causing her death dur ing and after the birth of her last child. Only able to carry the child to 33 weeks, Mrs Percentie said she was forced to wait almost five hours before nurs es removed the cervical stitch with which she had been fit ted before to prevent an early delivery. The babys heart rate began to drop because they took so long to remove the cerlage (stitch find her way out, the mother claimed. The next morning, Mrs Percentie said, she was sent home without antibiotics, only Baralgin (a pain killer Materna (a vitamin The next four days, she said, were the most painful that I have ever experienced. I had excruciating pain, nausea, and weakness the whole time up until I made the discovery. That discovery was that part of her afterbirth had not been removed at the hospital on the day she delivered the baby. She said: I was pumping my breast, when I began to feel really ill and like I needed N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Child rapist ar r ested Volume: 108 No.3WEDNESDAY, NOVEMBER 23, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER PARTLY SUNNY HIGH 83F LOW 71F B y SANCHESKA BROWN Tribune News Reporter firstname.lastname@example.org CONVICTED child rapist A ndrew Bridgewater is back in police custody after allegedly attempting to rape aw oman and abduct two primary school students. Police have confirmed Bridgewater was arresteda round 3pm yesterday at his residence on Marshall Road, after a two-week man hunt. H e is being held at the Carmichael Road Police Sta tion in connection with attempted rape, robbery and abduction. According to well-placed police sources, Bridgewater allegedly attempted to kidnap a male and female student from Carmichael Primary School two weeks ago. The students managed to escape and reported the incident to their parents who went to Carmichael Road police. Police are also questioning Bridgewater in connection with the attempted robbery and rape of a woman. Sources say he attempted t o rob and rape the woman at knifepoint as she was walk ing home earlier this week. T he woman allegedly fought back and cut him on his hand with his own knifeb efore escaping. She also reported the mat ter to Carmichael Road police. S ources say while at the station the woman recognised Bridgewaters photo on aw anted poster and identified him as the man who attempt ed to rape and rob her. Bridgewater is expected to be transferred to the Central Detective Unit today for questioning. He was convicted in 2007 for the rape of a six-year-old girl. He was released Sep tember 11, 2011, one day before the fifth anniversary of his crime. He was originally sentenced to 10 cat-o-nine-tails lashes and seven years in prison, but he appealed the flogging and was released after time served. Man accused of attempted rape and a bduction TRY OUR PINA COLADA McFLURRY The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM ARTS T T H H E E M M A A G G I I C C O O F F P P U U M M P P K K I I N N S S SEEARTSONPAGE12C SLOOPSAILING R R E E G G A A T T T T A A T T O O H H O O N N O O U U R R S S A A I I L L L L E E G G E E N N D D SEESPORTSSECTIONE CHURCH ELDER GETS LIFE FOR SEX ATTACK ON NINE-YEAR-OLD By DENISE MAYCOCK T ribune Freeport Reporter email@example.com FREEPORT: Convicted child abuser Albert Alexan d er Whyley, 60, was sen tenced to life in prison by senior Supreme Court Just ice Hartman Longley for h aving unlawful sex with a nine-year-old girl. At his sentencing yester d ay, Justice Longley heard from a psychiatrist and psy chologist who s aid Whyley, 60, fits the criteria for paed ophilia after he admitted to having sexualu rges for child ren since his incarceration. While inter n ational studies put the recidi vism rate for p ersons diagnosed with such a sexual disor der at about 20 t o 50 per cent, psychiatrist Dr John Dillet sug g ested it is 100 per cent possible Whyleyw ould reoffend. The prosecution recommended a 20 to 25-year custodi al sentence, but CHILD ABUSER Albert Whyley, who has been jailed for life. S S E E E E p p a a g g e e 7 7 By SANCHESKA BROWN Tribune News Reporter firstname.lastname@example.org A TEENAGE boy and a 21-year-old man were shot early yesterday morning in what police suspect was retaliation for a shooting a few hours earlier. Police say around 7.30am they received information that two males were shot at Flori da Court, near Balfour Avenue. The victims, ages 15 and 21, were taken to hospital where they are both listed in serious condition. Sources within the police force say the double shooting was retaliation for another By PAUL G TURNQUEST Chief Reporter email@example.com OPPOSITION MP for Elizabeth Ryan Pinder yesterday dismissed reports he was contemplating leaving his seat in favour of a safer constituency in which to run in the lead-up to the 2012 gen eral elections. Speaking exclusively with The Tribune at the House of Assembly yesterday, Mr Pinder said he fully intends to be the representative for Eliza beth after 2012 having served the good people of that constituency effectively for the past 18 months. I was elected to represent S S E E E E p p a a g g e e 3 3 S S E E E E p p a a g g e e 7 7 S S E E E E p p a a g g e e 7 7 CONVICTED CHILD RAPIST Andrew Bridgewater has been arrested following the attempted rape of a woman and attempted abduction of two primary school students. MO THER LUCKY TO BE ALIVE AFTER BIRTH OF CHILD TEENAGER AND MAN, 21, INJURED IN SHOO TING im lovin it PINDER: I WILL NOT QUIT MY C ONS TITUENCY
B y AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org CULTURE Minister Charles Maynard has been n amed as the minister respons ible for the downtown straw market. M r Maynard will receive his a ppointment today under the provisions of the Straw Mark et Authority Act, Prime M inister Hubert Ingraham announced last night. The Bill, among other relate d regulations, was passed by t he legislature last month and p rovides for a Straw Market A uthority Board to oversee the management and day-tod ay operation of the straw m arket. Hubert Chipman, a chartered accountant, was named chairman of the board l ast week. C ontractors are still putting t he finishing touches on the t wo-story market, which the government plans to populate a nd open to the public in time f or Christmas. The government has spent more than $12 million on the p roject, and plans to invest a nother $750,000 to fund start-up operations. Y esterday, architect Patrick Rahming presented his design approach with students at the College of the Bahamas. During the design process, Mr R ahming said architectural symbolism, sustainability and c ontext were given top cons ideration. Framed by classical columns, and in keeping with t he formal style of Supreme C ourt and Senate buildings, the new straw market pays h omage to the original s traw market that burned down in 1972. Mr Rahming said: As you w alk up Bay Street, you have s ome domestic scale but basically its a very formal affair, t he buildings are very formal. The thing that sets the pace for downtown is Rawson Square. Almost 40 years into our i ndependence, it is unfortunate that we havent created a m ore powerful centre for our i mage of our downtown, but at the moment that is what sets the pace for downtown. M r Rahming underscored t he need for a new downtown, a community centre to s erve the needs of citizens r ather than the interests of visitors. The city is supposed to be c hanneling those things that y ou treasure, the record of your history, the record of y our significant events, Mr Rahming said. You will expect to have monuments in a downtown that says this is where this c ommunity has been and this is how we came forward. H e added: We took half o f one of our giants and put him in Rawson Square. In 40 years thats disastrous. LOCAL NEWS PAGE 2, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE N EARLY 400 people have registered to become national volunteers since the launch of t he governments programme earlier this month. At the Volunteer Bahamas national launch ceremony last n ight, Prime Minister Hubert Ingraham said hundreds of applications were still being processed. The programme will be led by a national committee c haired by Darron Turnquest, Youth director, and Olympian Pauline DavisThompson. Central to the programme is the idea that in order to d ecrease crime and create safer, healthier and more non-violent communities, wen eed partnerships between government, faith and comm unity-based organisations, corporate citizens, philanthropic groups and individua ls. Last night, representatives from more than 15 civic groups set up information b ooths in the ballroom at the Sheraton Nassau Beach Resort. Registration forms are available on the governments website, and are also availa ble in New Providence at the Ministry of Youth, Sports and Culture on Thompson Boulevard and at the Ministry of Labour and Social Development in the Main Post Office B uilding on East Street. Family Island residents can collect or return applications tot he local administrators office. PRIMEMINISTER Hubert Ingraham at the launch of Volunteer Bahamas. 400 SIGN UP TO JOIN VOLUNTEER PROGRAMME Maynard in charge of straw market BOUNDARY changes can give an advantage to the ruling party in a general election, according to the majority of readers in The Tribunes latest online poll. A total of 145 voters disagreed with FNM chairman Carl Bethel who had said that lines dont vote, people do in reference to boundary changes. By contrast, 102 voters said boundary changes make little difference. Those posting comments on the issue, however, were less convinced that it makes a dif ference. McD said: This always comes up, and I really doubt that the subdivision lines have as marked a difference on results as the public and the politicians would like to believe. But, of course, they would not be doing it for nothing! Erasmus Folly said boundary changes should be accepted as the prerogative of the ruling party: The opposition can only complain if they do away with the prerogative while they are in power. Otherwise, shut up and don't waste our time whining. How many years of gerrymandering did the PLP enjoy from to ? Spilled milk arguments belittle our intelli gence as citizens. As usual, politicians need to grow up and focus on real issues. Tired was unhappy with the process: I'm a little torn on this as I think the process is stupid and there is no clear reason to the people why they cut the boundaries, change the names or do all these foolish ness. Its taken from the British system, but the British do things differently sometimes we shouldnt copy their stuff. The last word goes to College kid: Both parties know exactly what they are doing when they make the boundaries an issue. Its just another tactic that the opposition uses to gain a foothold. Check out www.tri bune242.com for a new poll. BOUNDARY CHANGES FAVOUR FNM
EDITOR, The Tribune. SONIAJames said, We must remember that one determined person can make a significant difference, and that a small group of determined people can change the course of history. The Bahamas has recorded a record 110 murders so far this year. And while the pace has slowed significantly as compared to previous months, there is still much cause for concern. All summer, many Bahamians, me included were calling on the government to do something to immediately curb this problem. The government responded with additional police cars, more police patrols and ankle bracelets for criminals. And now they have finally come up with, in my opinion, a viable solution a national volunteer programme. Suffice to say, Bahamians have not been registering as they should in droves to volun teer. How can it be that we expect the government to tackle crime and anti-social behav iour on its own? The government simply cant. The battle will be lost and there is much evidence to support this. This is a perfect opportunity for Bahamians and permanent residents alike to shut up and put up. The time for talk is over. All those persons com plaining about crime can now become a part of the solution. I checked the online registration and as of November 16, 2011, there were only 244 reg istered volunteers. This is an absolute national disgrace and this further speaks to our free wheeling attitude. The politicians need to fix our crime problem is what some citizens are saying. To those Bahamians still living in a dream land, I say to them that the solution is in all of us. Making a positive contribution no matter how small is well within every well intentioned Bahamians reach. Register for the national volunteer programme today and lets start to get our country back on the right track. DEHAVILLAND MOSS Nassau, November 17, 2011. EDITOR, The Tribune. I BELIEVEthat the Ingraham administration has made a brilliant move in proposing to reduce the number of seats in Parliament from 41 to 38 for the 2012 general elections. I understand that our Constitution calls for only 38 seats in the House of Assembly. At one time, there were an astonishing 49 seats in that august chamber. For a countryt he size of The Bahamas, that was way too many seats. In fact, I believe that the proposed 38 seats are still too many. I would like to see that number reduced to 21 seats. I believe that the Constitution can be amended; it is not infal l ible. Be that as it may, I am glad that Prime Minister Hubert Ingraham and the members of the Boundaries Commission have decided tof ollow the Constitution. According to the November 17 edition of The Nassau Guardian, three new con-s tituencies will be created in New Providence: Nassau Village, Southern Shores and Tall Pines. According to the same news report, the New Provi-d ence constituencies of Blue Hills, Clifton, Kennedy, Englerston and St Thomas More will all be eliminated. Interestingly, three of these five con-s tituencies are held by Free National Movement (FNM Members of Parliament. Sid ney Collie (Blue Hills Wright (Clifton G ibson (Kennedy affected by the boundary cuts. No one knows what will happen to the three FNM repre sentatives. Will the FNM nominate them? It is my belief, though, that Kenyatta Gibson would have lost his Kennedy seat anyway. Remember, Gib son ran under the Progressive Liberal Party (PLP 2002 and in 2007. Despite his challenges between 2002 and 2007 in the Christie administration, he was still able to hold off his FNM challenger,M ichael Turnquest, by 264 votes in the 2007 general elections. In the 2002 general elec tions, however, Gibson pum meled the FNM challenger, Ashley Cargill, by an astounding 999 votes. He resigned from the PLP in January, 2008. His move to the FNM in ear ly 2009 has angered many Opposition supporters in Kennedy. The PLP was poised to win Kennedy in 2012. I just dont see how Gibson and the FNM could have pulled off a victory in that constituency. Perhaps this can explain why the commission had no qualms recommending the elimination of that seat. As it stands right now, Kennedy is useless to the FNM. Yet with that being said, I believe that the Opposition is in a precarious position with respect to the elimination of Kennedy, a PLP stronghold. Now the leadership of the PLP will have to decide what to do with Dion Smith. He was nominated by the PLP to run in Kennedy. Now, all of a sudden, h e has nowhere to run. What will the PLP do with him? Also, what will the PLP do with Leslie Miller, now that Blue Hills has been dropped? Where will Glenys Hanna-Martin run in 2012? She obviously has precedence over Dion Smith and Leslie Miller. She is the daughter of AD Hanna, the former Governor General and Deputy Primer Minister in Sir Lyndens government. Everybody knows that the PLP looks after its own, especially those who have been toeing the party lines for years. In addition to the many speculations about the political future of the aforementioned PLP politicians, one question that many are probably asking is this: What will now happen to St Thomas More Member of Parliament, Frank Smith? Of all the Official Opposi tion MPs, Smith is perhaps the most vocal opponent of the FNM in the House of Assembly. He is a perennial thorn in the side of the governing party. The Deputy Leader of the Opposition and Member of Parliament for Cat Island, RumC ay and San Salvador, Philip Brave Davis, has expressed concerns over the boundary changes owing to a public promise made by the prime minister concerning the political future of Frank Smith. It sounds as if he is suggesting that Prime Minister Ingra ham is attempting to get rid ofS mith by dropping St Thomas More. Maybe he is, but then again the prime minister is also eliminating three FNM constituencies in New Providence and one in Grand Bahama. So, whats the point? What is good for the goose is good for the gander. I believe, though, that Smith will run in one of the three new constituencies mentioned above. Remember, his father-in-law is Franklyn Wilson, a financial heavyweight in the PLP. I just cannot envisage Frank Smith not running under the PLP banner in 2012. All in all, I believe that the proposals by the commission are fair. According to The Nassau Guardian, the Ingraham administration is simplya ttempting to keep the number of voters in every constituency relatively the same. For instance, as of November 14, 96,111 persons had registered to vote in New Providence. When you divide that number by the 23 constituencies, you g et 4,178. The Ingraham administration simply wants to bring parity from constituency to constituency in New Providence. Also, we must remember thatd espite the changes that will be made to the boundaries in New Providence, the FNM government still faces an uphill battlei n the 23 constituencies in the upcoming general elections. Boundaries dont vote, people do. In summation, the Leader of t he Opposition and Member of Parliament for the Constituency of Farm Road, Perry Christie, now faces the arduous task of deciding which candi-d ates to run. As it stands right now, there are presently 25 constituencies in New Providence. After the upcoming general election, however, there will o nly be 23. The leadership of the PLP will now have to tell two of their candidates in New Providence that they will not be running for the party in 2012. This difficult decision will no doubt hurt the two aspiring politicians. But nonetheless, it is a decision that Perry Christie has to make. He cannot run 25 candidates in New Providence. There will only be 23 seats in New Providence in the upcoming general election. And as I mentioned above, currentO pposition Members of Parliament Glenys Hanna Martin and Frank Smith will no doubt be given first precedence over new candidates like Dion Smith and several other new candidates who have been ratified by the Opposition. KEVIN EVANS Freeport, Grand Bahama, November 20, 2011. EDITORIAL/LETTERS TO THE EDITOR P AGE 4, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 Freeport fax: (242 W EBSITE w ww.tribune242.com updated daily at 2pm LAST night, in the ballroom of the S heraton Nassau Beach hotel, Prime Mini ster Hubert Ingraham officially launched the Governments Volunteer programme a call to all Bahamians to give of their t ime and talents to help create safer, healthier and more non-violent communities. While Government has an essential r ole in society, he told his listeners, it is n o substitute for the personal responsibility required for good family life and avoidi ng criminal and anti-social behaviour. He pointed out that government was not a replacement for civil society. This isw hy, he said, Government alone cann ot fully address matters such as criminality, incivility and anti-social behaviour. He emphasised that it is the citizenry acting individually and sometimes collectively, through families, churches, service clubs, schools, Lodges, foundations, busi-n esses and other private groups in collab oration with Government can cause renewal of community life, combat the n egative influences harmful to and destructive of our communities and assist in our return to good old traditional Bahamianv alues like respect for our elders. H e said that community service programmes have been introduced in all of governments junior and secondary schoolst o make certain that every government school child will have been engaged in a service-learning experience. H e said that to support social entrepre neurs and community leaders who are engaged in innovative and effective youth and urban outreach programmes, gove rnment will provide a small grant. He said that the amount of funds available may be increased depending on the needs and available resources. Mr Ingraham talked of the joy of giving. The satisfaction of seeing someone else succeed as a result of the helping hand t hat you have extended. This week, American journalist and TV personality Meredith Vieira was asked byP iers Morgan of CNNs Piers Morgan Tonight Show to recall a moment in her long career that was the most memorable.S he thought for a moment and then told the story of a little boy about 6 or 7 years old who she found in a run-down tenement building. His father had walked out on the family, the mother was high o n drugs, and here was this little man at t his tender age determined to succeed on his own. So impressed was she by the spirit in this little body that she befriendedt he child. She did not go into details of what help she might have given him. But over the years, he telephoned her regul arly and wherever she was, his calls were a lways put through by her staff. Today, h e holds down a responsible government job. And in her long, exciting and varied c areer, this little boy, now grown to manhood, is one of her most cherished memories. It is the moment among her lifesm any moments that gives her the most s atisfaction. We know just how she feels. Our lifes work has been trying to give the voiceless a voice through their newspaper. We have written much, we have listened even more to the misfortunes of others, we have doneo ur best to encourage young people to aim for the stars, but what gives us the most satisfaction is to be stopped on the s treet, or in the foodstore, by an obviously successful citizen, whose face we no longer remember, and asked: Do your emember me? You know I started as a p aper boy at The Tribune. This opening would be followed by the recounting of many happy memories when Tribune boysw ere then a part of the family. Mum, you know your (name deleted could not do that! I could never let youd own, a young man told us this week. He had had a bad break in life. He went through a period that would have broken the strongest of men. But we believed in h im, we stuck by him, and gave him as much encouragement as we could. Today he is a successful young businessman one of our many sons. Today, as we look around, we see the many boys who passed through The Tribune holding important positions in the c ommunity all respected gentlemen. If nothing else, this has made life worth living. I f Bahamians want to have a safer, healthier and more non-violent commu nity and also the satisfaction of being a p art of the solution and not of the problem then join Volunteer Bahamas and make a difference. We can assure you that you will never regret it. Christie faces tough decision LETTERS l email@example.com Volunteer Bahamas get involved Volunteer to get country on track
By LAMECH JOHNSON firstname.lastname@example.org A TRUCK driver, who was arrested after the dis covery of nearly $7,000 of fuel belonging to a service station, was charged in Magistrates Court yesterday afternoon. Jhvon Albury, 33, of Bamboo Street, appeared in Court 5, Bank Lane, before Magis trate Derence Rolle-Davis, where he was charged with stealing and receiving 605 gal lons of diesel, the property of the Shell service station on Thompson Boulevard. The prosecution alleged that the accused stole the fuel, which is valued at $6,819.47, on Friday, November 18. The fuel was said to have been discovered in large drums on a flatbed truck near the Queen Elizabeth Sports Centre. The Golden Gates resident pleaded not guilty to the charges and was granted bail after the prosecution declined to object. Magistrate Rolle-Davis granted the accused $7,500 bail with two sureties and adjourned the matter to Feb ruary 22 and 24, 2012. Attorney Cecil Hilton is defending Albury. LOCAL NEWS THE TRIBUNE WEDNESDAY, NOVEMBER 23, 2011, PAGE 5 By LAMECH JOHNSON l email@example.com A MAN was acquitted of a 2009 church construction site murder in Supreme Court yesterday when a 12member jury delivered a unanimous not guilty ver-d ict. P hanuel Charles, 28, had been accused of killing his colleague, 21-year-old Lionel Leonard Johnson. Around 3pm on November 16, 2009 at the EvangelisticT emple construction site on Collins Avenue, Johnson was stabbed in a scuffle and diedof his injuries before arriving at Princess Margaret Hospital. P rosecutor Darnell D orsette had alleged that the accused, defended by Tai Pinder, had intentionally stabbed the deceased, while the defence contended that the stabbing was an accident that h appened as a result of C harles defending himself while being attacked by the deceased and another coworker. Before the jury deliberated on the verdict, Senior Justice Jon Isaacs conducted a r eview of the evidence given throughout the trial by eight prosecution witnesses, one defence witness and the defendant himself. A fter a little more than two h ours of deliberation, the jury returned to the courtroom, where their foreman announced the 12-0 not guilty verdict. Senior Justice Isaacs said t o the former accused: Phanuel Charles, the jury has found you not guilty of the murder of Leonard Lionel Johnson. Unless you are being held for something else, you are free to go. C harles embraced his parents, then thanked his attorney for defending him. B y CELESTE NIXON Tribune Staff Reporter c firstname.lastname@example.org P OTHOLES are one of the most irritating facts of life in the Bahamas, but one local c ompany is hoping to make bumpy rides a thing of the past. Young entrepreneur Travis J ohnson launched his pothole r epair service, Cold Patch Bahamas, yesterday at press conference outside the Mackey Street KFC his companys first client. Mr Johnson said: The c ompany was established to address the vexing problem of pot holes found throughout Nassau and the rest of the b eautiful islands. The road repair patches used by the company can be a pplied quickly, and are designed to have a long life span, he said. T he service will result in l ess damage to cars and less money spent by the govern ment, Mr Johnson said. It is clear in the Bahamas we are either using inferior materials or inferior meth o ds, he said. Road crews are stretched too thin, result ing in potholes coming back too fast for crews to keep up. H e added that if potholes are not fixed quickly, they increase in size and cause seri-o us damage to cars. Aiming to service both the private and public sectors, MrJ ohnson said the company hopes to employ a crew of at least three young men initial l y and add an additional crew soon after. He said he is in the process of applying to the governments Self Starter Pro gramme for a grant to buy heavy machinery and other equipment. Offered under the motto, Rapid, affordable repairs, Mr Johnson said, the company's service is one in which c lients can have full confidence. Marketing director for Cold Patch Bahamas Bobby Bower said: We are hoping to prop ose several proposals to the government to gain contracts both for the supply and ser-v ice of repairing pot holes. With government resources already stretched by the New Providence Road Improve ment Project, Mr Bower said, there is a demand for a good for pothole repairs. I think we can make a great contribution to the road safety and driveablility of the r oads, he said. Mr Bower said Cold Patch plans to extend its services t o the Family Islands in par ticular islands which do not have asphalt plants. Potholes are a problem for e veryone, they damage your car, damage you, and can be an enormous cost on thee conomy, he said. Mr Bower added that the company is currently researching the use of sus tainable materials, so as to become as eco-friendly as possible. He said with a good product and the correct training, the company can be very successful. UNANIMOUS VERDICT BY JURY CLEARS MAN OF MURDER TR UCK DRIVER CHAR GED AFTER DISC OVER Y OF STOLEN FUEL The Bahamas very own street philosopher e will make bumpy rides a thing of the past PRESIDENT OF COLD PATCH BAHAMAS Travis Johnson and Mark eting Director Bobby Bower pose with a copy of yesterdays Tribune. Photo: Tim Clarke/Tribune Staff
By DANA SMITH d email@example.com W ELL-known businessman a nd DNA candidate for Sea Breeze Chris Mortimer claimed representation in the a rea has been nonexistent f or years. Mr Mortimer was speaking a t the CA Mortimer Sr Centres weekly soup kitchen on Beatrice Avenue, as he packed containers of food for distribution. Were growing as a count ry and I think were exposed t o a lot of things about what representation is supposed to be about, Mr Mortimer said. People have a higher expec tation of what representation is supposed to be. H e claims Sea Breeze residents are looking for true representation a person who represents the community, how they feel, and what they think should be done. They want me to be that p articular person and I want to be that person, for them, Mr Mortimer said. He also criticised former S ea Breeze MPs. Persons in this community have had the opportunity to s ee representation under the PLP and under the FNM, M r Mortimer said, and the reality is, for a lot of them, that has been non-existent. S peaking of current Sea Breeze MP, Carl Bethel, Mr Mortimer said: Theres no d oubt that Mr Bethel is chal lenged in this constituency because of what he has not done. I think the support that I have in this community is really because I have said Img oing to do things regardless. Im not the candidate thats saying, When I get into par l iament, this is what I'm going to do. These are things I'm doing and these are the things I willc ontinue to do, regardless of whether I win or not. The soup kitchen, one of s everal programmes organised by the centre, has been providing free meals to the needy, disabled persons ands enior citizens since the first week of October. The kitchen delivers an average of 70 meals a week by truck, with another 40 m eals being collected directly from the centre. Yesterday, rather than the usual soup dinner, the centre decided to provide special T hanksgiving meals. The community facility is owned and run by Mr Mortimer, who named it in hon our of his late father. LOCAL NEWS PAGE 6, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE S UNSHINE Insurance congratulated Morganne Bethel, an 11th grade Queens College student who was awarded a $60,000 scholar-s hip to attend Elmira College i n New York. M organne was one of the 10 finalists chosen from a large number of applicants that submitted essays on thetopic An original idea to b oost the Bahamian econom y. E ach of the three runnersup was awarded a $30,000 scholarship to attend Elmira College. The runners-up were: N atasha Jn-Simon, a 12th g rade student of CR Walker H igh School; Khristian Johnson, an 11th grade student at Queens College and Ariana McWeeney, an 11th grader at St Andrews School. E lmira College is a private, c o-educational, liberal arts c ollege located in Upstate New York. It has been historically ranked as one of the top colleges in America. T he college has a large popu lation of international stud ents and a particularly rich historical association with the Bahamas. Sunshine Insurance chairman Franklyn Wilson is ont he colleges board of t rustees. SCHOLARSHIP FOR STUDENT P ICTURED FROM LEFT: Brian Moodie, president of Sunshine Insurance; Michael Rogers, assistant to the president andd irector of public relat ions, Elmira College; M organne Bethel, overall winner of the 2011 Elmira College SIFE Scholarship; Shelly Wilson, vicep resident, Sunshine I nsurance. LITTERING in the sea and on beaches continues tob e a major challenge for the Bahamas, spoiling the beau-t y that attracts millions of v isitors to the country. In an effort to help tackle the problem, the Ministry ofT ourism, celebrating the first Caribbean Tourism Month, invited the Bahamas Nation-a l Coastal Awareness Committee to join forces with residents of Acklins for a beach c lean-up. C aribbean Tourism Month is being celebrated under the theme: One Sea, OneV oice, One Caribbean. The crew of volunteers successfully cleaned up twob eaches on Acklins M asons Bay Beach and Hard Hill Beach. As part of the exercise, the Coastal Awareness Committee surveyed the amount and type of garbage collected. I n total 4,221 items were gathered from both beaches; the top five debris items were: 813 plastic bottles (two liters or less), 264 ropes, 250 caps and lids, 350 plastic bags a nd 913 glass bottles. We want to ensure that persons throughout the Caribbean recognise thei mportant role tourism plays to the economic development of the region, said Earlston McPhee, director of sustain able tourism planning and development at the ministry. And the most important aspects are our people andt he environment, which is c ritical to the long term sustainability of tourism. Mr McPhee said exit surv eys reveal that visitors choose the Bahamas over other destinations primarily because oft he pristine beaches. Part of the Coastal Awareness Committees focus withi n the last two years has been a ssisting small communities like Acklins to maintain their marine environment. Acklinsh as a population of 635 and only 300 of them are adults. The most important thing i s not us coming and cleani ng up the beaches, but working in collaboration with local government, the local administrator and the community to clean-up the beaches of our islands, Mr McPhee said. H e added that he was grateful to the corporate sponsors that help fund these clean-up efforts and said it would not be possible without them, particularly the R oyal Bank of Canada. L ocal communities pitchin as well; in Acklins, Ivels Bed and Breakfast, localg overnment and various members of the community participated, making the ini tiative a success. LITTERING PROVES A CONTINUING PROBLEM DNA SEA BREEZE candidate Christopher Mortimer and DNA Volunteers put together Thanksgiving lunch for some of the elderly residents of Sea Breeze. P hotos: Tim Clarke /Tribune Staff Candidate hits out at Sea Breeze rivals DNA CANDIDATE Christopher Mortimer and his mother, Mary Mort imer, hand out Thanksgiving Lunch yesterday.
A NOTHER email popped into my inbox last week from retired politico Pierre Dupuch. In most cases, I scan these messages quickly and move on they are poisonous polit-i cal rants with no constructive proposals or substance, and it is obvious that Dupuch has a thing about his former leader in the FNM, Hubert Ingraham. B ut this one caught my eye b ecause it purports to deal with concrete facts that have been percolating for months in the form of a mon-s trous conspiracy theory. O ne of the most important functions of responsible journalism is to clarify such cont roversies so that the public i s not deluded by ignorant or conniving individuals who set themselves up as authoritieso r champions, often in the pursuit of hidden agendas. And frankly, I wanted to s ee for myself if anything D upuch had to say on this m atter was worth listening to. So I decided to take a closer look at the various allegations. The main thrust of D upuchs November 17 letter was a sinister FNM plot t o give citizenship to thous ands of Haitians so they can swing newly gerrymandered constituencies in the upcoming general election. A s near as I can tell, this mythology was first raised back in March by an anony-m ous propaganda website called Bahamas Press, which masquerades as a news site. T he BP claims were based entirely on thin air: If what we are being told is indeedt rue, the spin doctors wrote, a wicked plot to steal the n ext general election is a lready in motion...operatives within the FNM are working closely with a contingent within the Department of Immi-g ration to regularise the status o f some 4,000 plus persons before the next elections are called. This was clearly a cynical e ffort to exploit the average B ahamians palpable fear and l oathing of illegal immigrants, a nd it managed to gain some traction through the rumour mill. In July, Deputy Prime Min ister Brent Symonette (who is in charge of the Immigration Department) felt oblig ed to respond to these claims by saying nothing unusual was going on. H e pointed to the Christie administrations approval of 2,083 citizenship requests; 1,582 permanent residency permits, 2,286 spousal permits and 22,839 residency permits from 2002 to 2007 as evidenceof comparability. But the PLP continued to spread the myth by accusing the government of dishonestly pursuing a massive regularisation plan just beforet he election. And somewhere along the way, the figure was inflated by other political hacks on r adio talk shows and online chat sites to over 10,000 Haitians being granted citi-z enship. Also in July, Bahamas Press and the PLP began rail i ng about a government givea way of land and housing to newly regularised Haitian squatters in order to buy their votes. This came after plans were announced to rebuild an ille g al subdivision known as Mackey Yard, which had been destroyed by fire a few months earlier. Dupuch first picked up on these allegations in August: What is going on now, he said, is raw, nasty politicsb eing played just before an election hoping that it will give them victory...And no matter what a bad job the government has done and no matter how the real Bahami ans want to get rid of them at t he polls, the government will win. And there goes democracy! He went on to make further unsubstantiated claims that a number of JPs are prepared to supply the witnesses and sign birth certificates for the right price in order to facilitate a citizenship application for an undocumented foreign national. While I am n ot certain that this is true, I a ssume that members of the government are aware of it. E arlier this month, Symonette released official figures showing that the Ingraham administration had regu l arised 783 people this year, and had granted citizenship to some 1,927 non-Bahamians from 2007 until mid-2010 roughly equivalent to the number approved by the Christie administration dur i ng its term. But numbers for the sec ond half of 2010 were not i ncluded in this total. Symon ette explained the gap as follows: When this issue arose, it was related to the 13 people hired on a special project. I worked out the figures going backwards to cover the timet hey were at Immigration. I had previously worked out the figures to mid-2010 ina nother exercise. He provided the final fig ures just before the deadline for this article. Citizenship was given to 498 people of which 186 were Haitians in the second half of 2010 (July-December bringing the total number of citizenship awards to all nationalities for the period 2 007 to the present up to 3 ,208 about a thousand more than the number a pproved under the last PLP administration. Among those given citizenship were children who had l ived here all their lives, spouses of Bahamians, and children under 18. In his most recent letter, Dupuch reacted to this by linking his grossly exaggerated citizenship claims to the C onstituencies Commission report, which PLP spokesmen say amounts to a massivee xercise in gerrymandering the redrawing of constituency lines to ensure an election vic tory for the party in power. He repeated the unsub stantiated claim that some 5,000 citizenships had beeng iven out by the FNM and even said this bogus figure had been confirmed byS ymonette himself a complete falsehood. He then went on to link this outrageous claim to the then unpublished Constituencies Commission report, which he presciently branded as the worst case of gerrymandering Ive ever witnessed again, without any evidence whatsoever. The Commissions report (when it did become available) recommended threen ew constituencies on New Providence plus the elimination of five existing ones (Blue Hills, Clifton, Englers ton, Kennedy and St Thomas More). One constituency on Grand Bahama would also bee liminated, reducing the total number of seats in parliament from 41 to 38. The constitution mandates a review of constituencies every five years. The Con stituencies Commission ( which includes a supreme c ourt judge) looks at the number and boundaries of the constituencies, taking intoa ccount the number of vot ers, the needs of sparsely popu lated areas, and the ability o f elected members to main tain contact with voters froma wide geographic area. F or those who may not recall, in 2007 (under the Christie administration) the C onstituencies Commission issued its report well after the constitutionally mandated five-year period had elapsed the first time this had ever o ccurred. The FNM did not a gree with the Commissions r eport in 2007. Back then, one new seat was added to the parliamentary total (from 40 to 41 seats), and the constituency names of Adelaide, Dela porte, Holy Cross and St. Margarets were abolished. Five new constituencies Clifton, Golden Isles, Killarney, St Annes and Seabreeze were created onN ew Providence, and the Commission redrew the boundaries for seats on Grand Bahama. I t is also a matter of record that the Ingraham adminis tration sought to create an i ndependent Constituencies Commission in 2002 (one that excluded parliamentarians), but the PLP cynically opposedt he referendum proposals (after supporting them in the House) and they were voted d own. A constitutional review commission subsequentlya ppointed by the Christie a dministration recommended the same thing (an independent boundaries commission),b ut the PLP never bothered to pursue it. Now Dupuch and the PLP are angry that todays gov ernment-appointed commission is making constituency changes as all other govern m ents have done before an e lection. Take 10 shaky districts, Dupuch argued, and put 500 of these newly created Bahamians in each of them (referring to the alleged 5,000 regularised Haitians), and the seat is suddenly no longer shaky; it belongs to the government that gave them the citizenship. Need I say more? And to cap it all off, he compared Symonettes statement about doing his job as Immigration minister to the defence offered by Nazi war criminals at the Nuremberg trials following the second world war they were only following orders. Talk about hyperbole! The only point I want to make here is that we should always be suspicious of folks who switch apparently deep allegiances and strongly held positions overnight. It is one thing for your views to evolve over time and after due consideration. I experienced that myself when I came to reject my youthful association with communism. It is quite another thing to express diametrically oppo site opinions over a matter of days and shout them from the rooftop as Pierre Dupuch and former Guardian editor Oswald Brown have done. In such circumstances, something else has to be at play and usually that some thing is either a personality clash or a failure to get what one wants. Of course, both these gentlemen have the right to hold and express any views they wish. What they don't have the right to do is expect the rest of us to act like fools and take them as credible commentators. What do you think? Send comments to firstname.lastname@example.org or visit www. bahamapundit.com. LOCAL NEWS PAGE 8, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE Getting to the heart of gerrymandering claims DEPUTY PRIME MINISTER Brent Symonette has been forced to respond to claims that Haitians were being granted immigration status to gerrymander election results.
YOUR SAY By Pierre V.L. Dupuch SOME TIME ago, I wrote objecting to the FNM, name-l y the Deputy Prime Minister, giving out citizenship to Haitians, which appeared to be an effort to get votes for the upcoming election. I also pointed out that we had accused the PindlingG overnment of doing the same thing. This was wrong for the Pindling Government and, if true, it is wrong for the Ingraham Governm ent. A person, forgetting that I a lso referred to the Pindling Government, took extreme exception to my suggestiont hat it appeared that the Ingraham Government wasd oing the same thing. H e said that Brent Symone tte had given the facts which put a lie to what I was suggesting. I made the charge of the FNMs apparent padding of votes on similar informationu sed to make the same charge against the PLP. Back then, this very person thought I was a hero, filledw ith unusual guts, for taking on the Pindling Government as I did. Today, he hails me asa devil with some personal agenda. I must admit, I do have an agenda. And that agenda is t he same as it was fifty years ago and that is the good of The Bahamas and the Bahamian people. I am all Bahamian...all two hundred pounds of me! I have reason to question t he citizenship figures that Mr Symonette has made public. But let us, for one minute,a ccept Mr Symonette's fig ures that, I believe, indicated some five thousand citi zenships had been given out by the FNM. I was virtually born into p olitics, being the 7th Dupuch and 4th generation to serve i n the House of Assembly. I have been in active politics in this country for almost fifty years and of those fifty I spent twenty-five years in the House of Assembly. I say that to say this. I was horrified to see the leaked copy of the proposed new boundaries that were published by the local press. This is the worst case of gerrymandering Ive ever witnessed. It makes any gerrymandering done by the Pindling Government look like schoolboys in short pants. When Pindling did it, we in the FNM, the media and the country leaders were all over him like white on rice. Today, we dont hear a word from those who called Pindling a conniving crook for gerrymandering seats. But lets put all this aside for now. With seats being ger rymandered, as proposed by the FNM government, people will not be given the time to meet and talk to their candidates; it will not enable the opposition to name their candidates in a timely manner, nor will it enable candidates to properly check those regis tered in the district. I repeat, it will not give can didates time to properly check those registered in the district! Now back to Immigration andthe seemingly bogus figures. Take ten shaky districts and put five hundred of these newly-created Bahamians in each of them and the seat is suddenly no longer shaky; it belongs to the Government... that gave them the citizen ship! Need I say more? Is this what you as red-blooded Bahamians want? Is this what weve fought for all these years? Where are the leaders; where is the media? Where a re my friends who have gone q uiet? Were we talking about guts? In answer to my original article, Brent Symonetter eplied: I have a job to do and that is to regularise and do my work at Immigration so persons who have been waiting for years for something they are constitutionally entitled to apply for can geta fair hearing... So said Mr Symonette, who is also Minister of Foreign Affairs and Deputy Prime Minister. T his says a mouthful. M inister of Foreign Affairs? T hats passports, right? Does he remember that there had been a passportr acket at the Passport Office some time ago? Or has hec leaned that up? To whose s atisfaction? H e says that he is taking care of the disadvantaged people who have been waiting f or what is theirs. Mr Symon ette seems to forget that the FNM has been in power fort he past twenty years, bar five? Is he admitting incompetency? To expose both sides of the c oin, I spoke to a woman who was married to a Bahamian who had waited over twentyy ears to get her papers, but when she got there to collect them, the room was packed with people becoming Bahamians. She and the Immigration Officers were the only ones in the room who spoke English. Its a game, and Mr Symonette knows it. I f the system is such a mess, w ould you not think that the status of Permanent Resi dence would suffice for at l east those who have not yet mastered English? If the applicants cant speak English, surely this should tell the authorities that there is possibly something wrongw ith the citizenship application documents in the firstp lace! In order to mix up the pot and confuse the issue, Mr Symonette talks about Spousal Permits and existing Permanent Residents. T hese are not the people were taking about... and Mr Symonette knows it. A Spousal Permit refers to foreign women married to Bahamian men. Mr Symonette knows that t he Constitution provides that such a person has the right to be a Bahamian citizen. I f they really were serious, they could pass a law permitting a foreign man mar r ied to a Bahamian woman t o become a citizen, although it is not in the Con stitution. P ermanent Residence gives a person all the rights of a Bahamian except the right tov ote. Why not give this stat us to those now being given citizenship? Mr Symonette says hes only doing his job. Well, let m e tell him something. Before he was born, a num ber of judges and others were b rought before the Nuremberg courts sentenced with causing six-million Jews to be exterminated in Germany d uring the Second World War. Their defence was we w ere only doing our job. They ended up at the end of a hangmans noose. Some jobs you refuse to do, Mr S ymonette. I bring this to the peoples attention. Let them decide. M y next article will probably discuss the roads, leadership and planning. I n the meantime, think a bout the issues and your chil drens future. You are a Bahamian first; an FNM, PLP or DNA second. LOCAL NEWS THE TRIBUNE WEDNESDAY, NOVEMBER 23, 2011, PAGE 9 n tbf YOUR SAY... By RICK LOWE O N Thursday past, the late st missive from Mr Pierre Dupuch arrived in my e-mail i nbox. T his one is entitled Gerrymandering Districts andQ uestionable Citizenships a nd accuses the Deputy P rime Minister, Mr Brent S ymonette, and the FNM Government of granting citizenship to Haitian nationa ls for the express purpose of helping them get re-elected and changing the Cons tituency borders to suit the governing party. On first read, one is inclined to dismiss the r elease out of hand, but it is so derisive and void of any m eaningful policy prescriptions to fix these ills he himself suggests have been around for generations. (He reminds us of when former P rime Minister, Sir Lynden Pindling and the PLP used t o gerrymander the bounda ries and grant citizenship the same way). It seems appropriate to ask f or more from the former M P. Of course, he does not mention that former Prime Minister, Mr Perry Christie, and the PLP of 2002 2007 d id the same thing. He does make one policy prescription though. Grant P ermanent Residency to foreigners instead of citizenship. But surely a Government m ust consider more than raw emotionalism when deter mining these matters? Heres a few questions in relation to Boundary changes for Mr Dupuch: What would you do to i mprove the formation/selection of boundaries? Other than what is Cons titutionally mandated, w ould you put the formula into law or leave it to discre tion? Would you make the review committee indepen d ent or leave it the way it is? T he FNM tried to do so with the defeated Constitutionalc hanges they attempted and the PLP had a committee recommend the same thing, yet nothing was done. Justice Stephen Isaacs was quoted in the press as saying the process was fair. S hould we dismiss this? How about matters relat ing to Citizenship? How should a governm ent Bahamian handle expatriates (expats Is there a place for granting expats status in the first place? Should we close our bor d ers to immigration? Do we limit the numbers each year to a set amount? What do we do about those people that have lived and worked here for generat ions in some cases? There must be numerous other questions or ideas outt here that deserve considera tion, but for todays politicos, as well as some of yes terdays, it seems easier to t ry to inflame the electorate rather than discuss and offer reasonable policy prescrip-t ions to resolve these mat ters that are used to cause dissension, election year after election year? Gerrymandering districts and questionable citizenships? PIERRE V L DUPUCH has accused the FNM government of manipul ating immigration and constituency boundaries to improve their chances of retaining power at the next election. WHATEVER HAPPENED TO POLICY SOLUTIONS? O n first read, one is inclined to dismiss the release out of h and, but it is so derisive and void of any meaningful policy prescriptions to fixt hese ills he himself suggests ha ve been ar ound for generations. It seems appropriate to ask for more from the former MP. Rick Lowe
By NATARIO McKENZIE T ribune Business Reporter email@example.com SANDALS Royal Bahamian Resort and Baha Mars existing hotel inter ests are targeting occupancy levels in excess of 80 per cent for the upcoming Thanksgiving holiday and weekend, Tribune Business was told yesterday. Yasmina Cherquaouim, Sandals' group public relations manager for the northern Caribbean, said: I can confirm that for Thanksgiving weekend we will be experiencing occupancy levels in excess of 80 per cent. Thats with the room allo cation we have currently. Sandals executives had previously told Tribune Business that the Manor Building, which represents about 30 per cent of the property's room offering, will remain closed for a $ 17.5 million refurbishment over the next few months, leaving the Windsor and the Royal Village open. Ms Cherquaoui added: What is particularly notable is the multi-cultural mix of guests that we have in-house this year for the holiday. We have guests from the States, Canada, UK, Germany, France, Italy and even Turkey. The late bookings market is also strong at this time of year, as guests escape the colder weather fronts in their respective countries. We havent noticed that much of a difference in year-over-year occupancy level. Baha Mars senior vicepresident of governmental and external affairs, Robert Sands, told Tribune Business of the Sheraton and Wyndham: Our hotels are forecasting occupancy lev els in the high 80 per cent for the Thanksgiving weekend. I would say it appears to be a little bit stronger than last year. Kerzner International spokesman, Ed Fields, recently told Tribune Busi ness that The Cove and Royal Towers at Atlantis have already "sold out", and the resort is tracking in the 90 per cents for the remaining hotels this Thanksgiving holiday weekend as it gets set to host the "richest pre-season tourna ment in college basketball." The 'Battle 4 Atlantis' tournament, scheduled for November 24 to 27, is expected to generate an influx of hotel guests to the Atlantis resort, boosting the Bahamas' attraction as a sports tourism destina tion. $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.19 $5.19 $5.17 T HETRIBUNE SECTIONB firstname.lastname@example.orgWEDNESDAY, NOVEMBER 23 2011 [Learn more at royaldelity.com] BAHAMASNassau:242.356.9801 Freeport:242.351.3010BARBADOSSt.Michael:246.435.1955 By NEIL HARTNELL Tribune Business Editor NEW PROVIDENCE hotels projecting increased Thanksgiving occupancies are running -30 percentage pointsa bove 2010 comparatives, the Bahamas Hotel Associations (BHAC hristmas/New Year period was shaping up to be the strongest s ince 2007 in all categories. R esponding to Tribune Businesss questions, Stuart Bowe said that while the Thanksgiving holiday period was traditionally not a strong one for the Nassau/Paradise Island resort i ndustry, 2011 was likely to be an exception with many hotels reporting better activity than normal. He acknowledged that the Battle 4 Atlantis basketball t ournament was a primary business driver, which had create d some spin-off occupancies and business for other New Providence hotels. Besides Atlantis, Mr Bowe said: Several other major hotels are reporting strong bookings based on special promotional events which have been put in place to attract business. The hotels which are reporting an increase in business this w eekend are running 20-30 points above on occupancy over the 2010 Thanksgiving weekend. We expect room rates to be above last year. By NEIL HARTNELL Tribune Business Editor A SUPREME COURTjudge yesterday retired to determine whether to grant leave for Judicial Review over Customs demand forG rand Bahama Port Authority ( GBPA) licencees to produce National Insurance Board (NIB l etters of good standing, the companies involved describing the ninemonth delay in proceedings to this point as absurd. Fred Smith QC, attorney and p artner at Callenders & Co, who is representing the law firm, Smith P oint and Bahamian Outdoor A dventure Tours in the proceedings, told Tribune Business he was proceeding with the Judicial Review application even though C ustoms had withdrawn its demand for the NIB letters to be p roduced before renewing GBPA licencees annual bond stat us. This was because Customs had given no undertaking ABSURD DELAY OVER CUSTOMS JUDICIAL REVIEW By NEIL HARTNELL Tribune Business Editor THE BAHAMAS will have to run a sales/VAT tax alongside its existing system at some point, the Bahamas Chamber ofC ommerce and Employers Confedera tions (BCCEC reform was inevitable and needed to be made as least traumatic as possible. Adding his voice to the growing debate on tax reform, Winston Rolle told Tribune Business that the Bahamas import duty-dependent tax structure was incompatible with this nations general policy direction of entering into rules-based, lib eralised trade regimes. Tariffs such as import duties are viewed as barriers to trade by the likes of the World Trade Organisation (WTO the Economic Partnership Agreement (EPA By NEIL HARTNELL T ribune Business Editor A LEADINGattorney yesterday said there is no rea s on why the Bahamas cannot grow its international financial services industry through diver sification, adding that the keyw as whether this nation had the will and ability to do what is necessary to plug into changing market dynamics. W hile disputing the asser tion by Moodys, the international credit rating agency, thatt he Bahamas diversification prospects were relatively lim i ted, Brian Moree QC, senior partner at McKinney, Bancroft Bid for ruling goes forward despite Customs c limb down over NIB good standing letter Claim no admission of wrongdoing, and fear C ustoms might do it again FREDSMITH SEE page 4B SEE page 5B O REASON WHY FINANCIAL SECTOR CANT DIVERSIFY Top attorney dismisses Moods assertions Warns key is will and ability to change b usiness model to market dynamics Sa ys industry cannot be run by politicians SEE page 4B BRIANMOREE BAHAMAS MUST RUN SALES/VAT TAX WITH DUTIES Chamber c hief sa ys r ef or m inevitable, and must be made as least tr aumatic as possib le But Caribbean studies mean not in uncharted water SEE page 5B HOTEL OCCUPANCIES -30 PTS UP FOR THANKSGIVING T HEATLANTIS r esort on Paradise Island S AND AL S, BAHA MAR EYE 80% THANK SGIVING OCCUPANCIES BHA chief says Christmas/New Year set to be strongest since2 007 in all categories for Nassau/PI hotels Mixed October sees occupancies up, but rates, rooms sold and r evenue all down in 2010
By NATARIO McKENZIE Tribune Business Reporter email@example.com A BAHAMIAN start-up t argeting the road pothole patching business said yesterday it hopes to land a $5,000 grant from the Gove rnments self-starter prog ram. T ravis Johnson, 22, president of Cold Patch Bahamas, told Tribune Business at the companys launch yesterday that such a grant would enable him to purchase tools for his busin ess and provide employment opportunities for jobless young men. Cold Patch Bahamas is being promoted by Bobby Bower and Dominic Sturr up, who also marketed B ahamas Striping, a selfs tarter company headed by A tario Mitchel, which has secured 80 per cent of the striping work to date at the $2.6 billion Baha Mar development. The two companies are in the same field of busin ess. There is a great demand f or this business, Mr Johns on said. Every few feet y ou drive you see a pothole, a nd the road crews have their hands tied. It gives mea chance to latch on to the i dea. I have spent the last two months researching the best cold patch methods and the m aterial available, and I have found a cold patch that will stand up to the Bahami-a n heat and flooded streets. Not only do we want to fix p otholes quickly, we want to fix them properly. What I want to do is get a grant from the SelfStarter, and that will help me purchase a few tools that I need to go out there with and complete the job. Cold Patch Bahamas will b e hiring at the very least t hree young, unemployed men. If the demand is great we imagine we can have two or even three crews operating around Nassau and the i slands. M r Bower told Tribune B usiness: We have applied a nd are hoping to be a selfs tarter. We can probably d emonstrate quite easily the profit of this business. The figures work out quite nicely. Its basically manual labour, but you h ave to know what youre doing. You have got to have t he right material. Were hoping to supply anyone who digs up roads with coldp atch. You can see how many potholes are around h ere. It doesnt take much to make this business profitable. BUSINESS PAGE 2B, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE NOTICE IN THE ESTATE OFGEORGE BAKER l ate 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 t he above-named Estate are required to send the same to the undersigned on or before the 13th day of December, A.D. 2011 and 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; A ND 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 Pothole repair firm targets $5,000 grant KrYs Globals Bahamian managing director, Ed Rahming, was one of 23 executives who addressed the third annual International A ssociation for Asset Recovery (IAAR ence, which was held in Las Vegas last week. Mr Rahming gave tips on asset recovery and defeating financial crime. He said: To succeed, the asset recovery professional must s tay informed of new develo pments, and the IAAR p uts you in a position to get e xclusive access to best pract ices and job tools. BAHAMIAN ACCOUNTANT AT ASSET RECOVERY FORUM WASHINGTON Associated Press JOHNSON & JOHNSONsays its vice president and general counsel Russ D eyo will retire next year a fter 27 years with the c ompany. T he health care cong lomerate says Deyo, 62, w ill retire on March 31. He will be succeeded by Mike Ullmann, who has served as general counsel for the company's medical device unit since 2006. Ullmann will become vice president a nd general counsel on Jan. 1. Deyo joined J&J's legal d epartment in 1985 and w as appointed vice presid ent in 1996. He was promoted to his current position in 2004. J &J has weathered a slump in sales of its overthe-counter brands likeT ylenol due to a string of m anufacturing-related recalls. One of the company's key plants was shut downi n April 2010 and is being gutted and rebuilt. I I h h a a v v e e s s p p e e n n t t t t h h e e l l a a s s t t t t w w o o m m o o n n t t h h s s r r e e s s e e a a r r c c h h i i n n g g t t h h e e b b e e s s t t c c o o l l d d p p a a t t c c h h m m e e t t h h o o d d s s a a n n d d t t h h e e m m a a t t e e r r i i a a l l a a v v a a i i l l a a b b l l e e , a a n n d d I I h h a a v v e e f f o o u u n n d d a a c c o o l l d d p p a a t t c c h h t t h h a a t t w w i i l l l l s s t t a a n n d d u u p p t t o o t t h h e e B B a a h h a a m m i i a a n n h h e e a a t t a a n n d d f f l l o o o o d d e e d d s s t t r r e e e e t t s s . J&J LEGAL CHIEF WILL TO RETIRE IN MARCH Share your news The Tribune wants to hear from people who are making news in their neighbour hoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.
B y NATARIO McKENZIE T ribune Business Reporter nmckenzie@ tribunemedia.net BUSINESSES have not been responding to the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC recently-launched human r elations and labour help desk, despite increased efforts make them aware of its service, Tribune Business was told yesterday. Ian Ferguson, manager of the Chamber Institute, said that despite a more a ggressive approach on the Chambers part to make businesses aware of its help desk, the response has still not been good. Mr Ferguson said the Chamber has been reaching out to more than 800 businesses, yet so far only t wo companies have responded. C alls We have been contacting businesses reminding them about the diagnostic check-up. We have only h ad two companies that h ave responded. We still have persons making those calls and sending those personalised e-mails, Mr Ferguson said. T he first step to the C hambers new service involves an assessment, then a report with recommendations, on how to improve ones business for a flat fee of $150. With such a poor response thus f ar, Mr Ferguson said the Chamber was just about prepared to waive the fee. He added: Persons are not responding well. In fact they are not responding at a ll. I am convinced its not a bout economics, its just that persons are not interested. Its simply taking a lunch hour, sitting down with a consultant and answering a series of survey questions. The next step is you get a report that outlines some of the stepsy ou need to be taking to improve your business. We just want to offer the help. The BCCEC announced the introduction of its human resource and labour help desk in October as a n ew service for members and small, medium and large businesses. C onsultant Members can request the assistance of a human resources consultant to a ssess varying aspects of t heir talent management at greatly reduced rates. Each company will receive a written assessment with recommendat ions to improve any defic iencies that would help strengthen their company and their employee relations. BUSINESS T HE TRIBUNE WEDNESDAY, NOVEMBER 23, 2011, PAGE 3B 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. 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. CHAMBER HITS AT BUSINESS RESPONSE BAF ARM IN JAMAICAN REMITTANCE AGREEMENT A BAF Global Group arm has signed an agreement to become the exclusive Bahamian agent for a well-known J amaican money transmission and bill paym ent services. Bramer Money Transfers (BMT t rades as Cash N Go and is part of the r e-named British American Financial ( BAF) group, will act as the Bahamian agent for JN Money Services (JNMS remittance and bill payment services armo f the Jamaica National Building Society. The alliance, which came into effect on November 21, will provide JN Money Transfers full services throughout Cash N Go money stores in the Bahamas, Leesa Kow, general manager of JNMS said. This is a testament to our commitment t o eliminate the financial connectivity gaps b etween citizens in Caribbean countries. Pointing to the on-going CARICOM driv e for regional integration, Miss Kow a dded: The Caribbean is our home, and if we are serious about regional integration then we must provide the services, which are Caribbean-owned and operated, to facilitate the intra-regional trade and investment being driven by CARICOM. The JN Money Services general manag e r said there was a growing number of Jamaicans residing in the Bahamas, as well as Bahamian entrepreneurs who do busi ness in Jamaica and across the Caribbean. T hey were demanding real time money t ransmission services; therefore, we were encouraged to offer our full-services in the Bahamas. The partnership will allow Cash N Go customers in the Bahamas, with business or family connections in Jamaica, to accessJN Money Transfer services in the B ahamas to send and receive money; make b ill payments and transfer funds to accounts held in financial institutions in Jamaica; as well access mobile phone top-up services. Cash N Go has three locations in Nassau at Bay Street, Rosetta Street and Carmichael Road; as well as on FreeportsQ ueens Highway; and Georgetown in Exuma. A new location will be opened in Marsh Harbour, Abaco. In addition to remittances, Cash N Go accommodates airline ticket purchases; school fee advances and offers BAF and Bramer Insurance Premuims, BTC Mobile Pins and Eztop up among other financial products and services. Our partnership with one of the Bahamas oldest and most respected insurance and financial services provider is an excellent example of how Caribbean companies can develop synergies to deliver robust financial services, which meet the growing sophisticated needs of our peop le, Miss Kow said. Wentworth Musgrove, general manager of Cash N Go, added that the partner ship created valuable opportunities for b oth companies to explore and develop p roducts to meet the evolving needs of Caribbean peoples. Our customers, particularly those with c onnections to Jamaica, will be pleased that they now have access to a money services brand which they know to be reli able and convenient, Mr Musgrove said. Therefore, we welcome this arrangement with JN Money Transfer, which sets the pace for the development of other tangible benefits that will enhance our financial services. JN Money Services, based in Kingston, Jamaica, markets its services under the JN Money Transfer brand in several other Caribbean countries, including the Cayman Islands, St. Vincent and the Grenadines, and Dominica. The company also has an expansive and growing operation in the United Kingdom, the US, Canada, and recently re-branded its agency operation in Accra, Ghana. LEESA KOW general manager, JN Money Services
& Hughes said it was vital this nation adjusted its businessm odel to meet rapid change. Pointing out that the reasons for institutions and highnet worth individuals using international financial centresw ere very different from w hat drove the market 10-20 years ago, Mr Moree told Tribune Business the Bahamas needed to demonstrate a clear understanding of such trends to potential clients. A nd he pointed out that f inancial services was not a business that can be run by politicians, its complexityand dynamism calling for it to be led by professionals able to execute and implement s trategies that could put the B ahamas ahead of the curve. Acknowledging that Moodys was correct in asserting that international financ ial services had become more competitive, and that s o-called offshore centres were now fighting head-on with the likes of New York and London for business, Mr Moree said it had given no reasoning to support its claimt hat the Bahamas diversification prospects were rela-t ively limited. I do not accept the inevitability of their statement that the Bahamas is incapable of diversifying itsc urrent financial services model into other synergistic areas of business that support our core business, Mr Moree told Tribune Business. Clearly, an international arbitration centre is synergis-t ic business for the financial services industry, this whole idea of promoting an international business centre is s ynergistic, as is offering both shipping and expanding the s hipping registry. We are already seeing the Bahamas Maritime Authority achieving significant results in increasing that business, and I think theres significantp otential in an aviation registry and looking at that sec-t or. The McKinney, Bancroft & Hughes senior partner added: We could also leverage our intellectual base int he Bahamas, which I maintain is quite considerable, bearing in mind weve been in this business for 50-plus years. Its a synergistic part that can be added to compete and expand. T he key competitive elements were cost, product and services offering, legislative platform and service platform, Mr Moree said, pointing out that Moodys concerns over the Bahamas valu e proposition, and whether this had been eroded by r ecent regulatory changes, depended to a large extent o n its business model. T ied directly to this was the complete change in rationale f or using international financial centres, he explained. Markets had also altered, with the major sources of wealth now coming from thel ikes of Europe, Asia and Latin America, especially the B RIC countries (Brazil, Russia, China and India), with l ess reliance on traditional staples such as the US, UK and Canada. The reasons for doing business now are very different from what they used to be, Mr Moree told Tribune Business. One, then, has to adjust your business model t o exploit the current reasons that are causing institutions a nd high net worth individuals to continue using international financial centres as part of management of their wealth in the global economy. Once we have a clear understanding of the marketf orces driving business into international financial centres, we will be able to develop a new business model to take advantage of those rea-s ons. This is a very dynamic, very innovative industry that requires a high level of sustained attention by professionals who know this business. This is not a business that can be run by politicians. Thats no disrespect to them. Politicians can decide overall policy, but cannot run and manage a financial services industry. M r Moree also disputed Moodys assertion that the r egulatory changes imposed on the Bahamas financial serv ices industry over the past d ecade had eroded its competitive advantage, as the saving grace had been the creation of a level playing field with all countries abiding by the same rules. While some nations may h ave gone further in some reforms, Mr Moree said that w hile privacy had been diminished, it had not been w iped out. And, with the socalled level playing field in existence, the Bahamas had not been marginalised or made uncompetitive. With all evidence pointing to the global financial services industry growing, not shrinking, Mr Moree said international financial centres such as the Bahamas were poised to continue playing their role as a routing or passt hrough destination for investments flowing into othe r nations. What was critical, he added, was for there to sufficient public and private sector will and commitment top rovide the required resources financial, technical a nd technological to sustain and grow the Bahamas second largest industry. There is no reason why the Bahamas cannot maintain and grow its financial services industry, both in terms of its core business and some level of diversification into syner-g istic industries, Mr Moree told Tribune Business. The question is not: Can we do it? It is: Do we have the necessary will to do what is required to make these changes?.... Our businessp latform has to be looked at to make sure we take advant age of these changes. What remains in the Bahamas is whether we have the ability to do what is necessary to plug into these markets. BUSINESS PAGE 4B, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.97AML Foods Limited1.181.180.000.1480.0408.03.39% 10.639.05Bahamas Property Fund10.6310.630.00-0.6420.080-16.6 0.75% 7.504.40Bank of Bahamas6.936.930.000.2300.10030.11.44% 0.530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2.842.55Bahamas Waste2.702.700.000.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 10.468.29Cable Bahamas8.438.40-0.0315,0000.2450.32034.33.81% 2.802.33Colina Holdings2.342.340.000.4380.0405.31.71% 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 BDRs1.661.65-0.010.1110.04514.92.73% 1.551.24Doctor's Hospital1.371.24-0.137,8000.0740.04016.83.23% 5.504.75Famguard5.435.430.000.4980.24010.94.42% 7.504.82Finco4.824.820.000.7570.0006.40.00% 9.457.75CIBC FirstCaribbean Bank8.148.140.000.4940.35016.54.30% 6.005.00Focol (S 5.335.330.000.4350.22012.34.13% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.58ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 19 October 2022 Prime + 1.75% Prime + 1.75% 6.95%T UESDAY, 22 NOVEMBER 2011BISX ALL SHARE INDEX: CLOSE 1,354.63 | CHG -0.89 | %CHG -0.07 | YTD -144.86 | YTD % -9.66BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 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 7/11/2007NAV Date 31-May-11 30-Sep-11BISX Listed Mutual Funds30-Jun-11 30-Sep-11 NAV 6MTH 1.535365 2.952663 1.580804 111.469744 115.762221TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-11 30-Jun-11 31-Jul-11 5-Aug-11 30-Oct-11MARKET TERMS30-Sep-11 31-Oct-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities)31-Oct-11 31-Jul-11 31-Oct-11 NOTICE is hereby given that JOHN THOMAS of 4TH STREET, THE GROVE, NASSAU, BAHAMAS is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 16th day of November, 2011 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.NOTICE 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 COMMONWEALTH OFTHE BAHAMAS 2010 IN THE SUPREME COURT No. 376 E quity Side I N THE MATTER OF ALLTHATpieceparcel or lot of land containing 7,467 sq. ft. situate on the northern side of Northeast side by land said to be Jeffrey Russell and on the Southeast by Jumbay Street and about 92 ft west of Windsor Place Drive and on the Southwest by land said to be Roy Burrows and on the Northwest by land said to be the estate of Ben Darville in Nassau Village in the Eastern District of the Island of New Providence in the Commonwealth of the Bahamas AND IN THE MATTER of the Quieting Titles Act, 1959 AND IN THE MATTER of the Petition of Daniel Ritchie, Jr. NOTICE The Petition of Daniel Ritchie Jr. in respect of ALLTHATpiece parcel o f lot of land containing 7,467 sq. ft. situate on the northern side of J umbay Street and being about 92 feet west of Windsor Place Drive in t he subdivision of Nassau Village in the Eastern District of the island o f New Providence in the Commonwealth of the Bahamas which said piece parcel or lot of land is bounded on the NORTHWESTjointly by Lots Numbers 32 and 33 of Windsor Place and running thereon by land the property of one Jeffrey Russell and running thereon One the SOUTHEASTby Jumbay Street and running thereon Fifty-six and the property of one Roy Burrows and running thereon One Hundred parcel or lot of land has a duplex apartment building and a store room thereon which said piece parcel or lot of land is more particularly de5 247 N.P. and thereon coloured Pink. owner of the fee simple estate in possession of ALLTHATpiece parcel or lot of land hereinbefore described and the Petitioner has made application to the Supreme Court of the Commonwealth of the Bahamas under Section 3 of the Quieting Titles Act, 1959, to have its title to during normal working hour at:can Building, Marlborough Street, Nassau, N.P. Bahamas; or Building, Bay Street and Victoria Avenue, Nassau, N.P., Bahamas. N OTICE IS HEREBYGIVEN that any person having dower or right t o dower or any adverse claim or claim not recognized in the Petition i n the Registry of the Supreme Court and serve on the Petitioner or the u ndersigned a statement of such claim in the prescribed form and veriJ HALL & ASSOCIATES, Chambers, Malcolm Building, Bay Street & Victoria Ave., Nassau, Bahamas. Attorneys for the Petitioner EMPLOYMENT OPPORTUNITYMessenger/Clerk( Males Only Need Apply) Duties Requirements MUST FAX: 377-1366. that it would not repeat the same demand in the future, nor had i t admitted whether it had breached the Hawksbill Creek A greement in the first place. We appeared before Justice Evans, and I appealed afresh for leave, Mr Smith told Tribune Business yesterday. Gary Francis from the Attorney Generals Office was there, and opposed the application for Judicial Review leave. He said it should be dismissed, as Customs had withdrawn the letter demand. The application was made not only that leave should be g ranted, but that the case was so overwhelmingly straightforwad t here should be no trial. M r Smith said Justice Evans had adjourned proceedings to m ake her decision. He added, though, that his law firm and othe r two companies, by pushing for Judicial Review, were hoping t o obtain a Supreme Court decision quashing Customs demand for an NIB letter of good standing, and a declaration that the D epartment had breached the Hawksbill Creek Agreement and r ights of licencees. T hey are also seeking restitution of any Customs duties p aid as a result. A November 17, 2011, affidavit filed with the Supreme Court by Challon Romer, either a director or secretary of the three companies, alleged that after Customs failed to explain why it was demanding NIB good standing letters to renew their bonded goods privileges, the Judicial Review application was issued on February 23, 2011. M s Romer alleged of the first March 9, 2011, hearing before J ustice Hartman Longley: The judge raised a number of con cerns, particularly whether a large number of licensees of the Grand Bahama Port Authority might bring claims against Customs if leave were given. As set out in the Applicants supplemental submissions, s uch concerns were unfounded. If a large number of wrongs had been committed, a large number of actions may be required to r ight such wrongs. Following another hearing, a March 25, 2011, letter from t he Attorney Generals Office said Customs had been told to discontinue the demand for an NIB good standing letter before bonded privileges were renewed. It did not, though, admit Customs was wrong. It is plain that only the issuing of the application for leave to apply for Judicial Review, and the imminence of the leave hearing, had pushed Customs into addressing the issue, Ms Romer alleged. However, Customs expressly discontinued the policy with out making any admissions the point as to whether Customs had acted lawfully in demanding the letter from NIB, and so the p oint as to whether such a request might be repeated in future was left unresolved. The letter contained no undertaking not to repeat the d emand in future, did not offer to repay the Customs duty wrongly paid by the applicants, and did not offer anything by way of costs. Following another adjournment, Assistant Comptroller Lin c oln Strachan, in an affidavit filed on the Departments behalf, made no admission of wrongdoing, gave no undertaking about not repeating the NIB letter demand and denied that Customs s hould have to repay the additional duties. On April 15, Justice Longley directed that the two sides attempt to settle the matter, given that Customs had effectively conceded. The two parties were unable to agree a Court O rder to resolve the issue, and on September 28, 2011, Justice Longley allegedly said he was unable to further deal with the case, transferring it to Justice Evans. Ms Romer alleged that the three companies had not been happy with the proposed Order, arguing that it was important that a proper decision on the legality of Customs action should be reached as a matter of general public importance, and an i njunction granted to prevent a repeat of any unlawful action. The firms were also unhappy with the six adjournments to the case to date, Ms Romer alleging: The essence of Judicial Review is that it is supposed to be a swift method of addressing unlawful administrative action. It is absurd that it has taken nine months between the issuing of the application and this hearing even for the question of leave to come finally before the court. FROM page one O REASON WHY FINANCIAL SECTOR CANT DIVERSIFY FROM page one ABSURD DELAY OVER CUSTOMS JUDICIAL REVIEW
reduction of duties on goods originating from the European Union (EU All of which is going to put additional pressure on Customs tariffs, the Chamber chief told Tribune Business. We need to take a serious look at the mechanisms we can use that can either help or maintain government revenues to support the various projects and needs it has. The level of Customs tariffs is going to erode, whether thats in five years or 25 years. Its going to disappear. Both the International Monetary Fund (IMF rating agencies, such as Moodys and Standard & Poors (S&P ding the Bahamian government to introduce a consumptionbased tax such as a sales or value added (VAT former suggesting this would alter the debt dynamics of the public finances. Reports on the best tax reform options for the Bahamas, and how to implement and administer them, were produced by the IMF and UK consultants, Crown Agents, under the former Christie-led PLP administration. While the current government announced early on that it would not consider tax reform during this term, Prime Minister Hubert Ingraham has indicated the FNM if re-elected would adopt it as an issue. And the initial studies remain within government. Based on the Governments hints, as well as IMF and Moodys reports, it appears the Bahamas is already leaning towards adoption of a VAT tax. The advantage here is that it would capture value at every stage of the production process, and also reel in contributions from the less heavily taxed services sector. The downside is that VAT might be more difficult to administer, and more onerous to collect. At some point, youre going to have to run both of them, Mr Rolle told Tribune Business, indicating that a sales/VAT tax would have to be brought in alongside import duties until the full transition was made. When you look at it, for the most part service industries are not taxed, the Chamber chief added. But there are examples we can learn from. Extensive studies had documented potential tax reform, and how it might work, in other Caribbean countries such as Jamaica and Guyana, and Mr Rolle told Tribune Business: Its not as if were going into uncharted waters here. We have enough experience from around the region to draw from, and learn from their successes and mistakes, so that it will be as least traumatic as possible. We cant wait until we are forced to do it, because our backs will be up against the wall, and we will do it in a rushed, hasty manner, not paying attention to detail. Mr Rolle warned that the Bahamas required a long leadin time to introduce a new tax structure, given that a number of government institutions would have to change to facilitate this. For instance, with the bulk of taxes no longer being collected at Bahamian borders, consideration would have to be given as to whether to change Customs into the equivalent of a US Internal Revenue Service (IRS protection agency and create a new revenue/tax authority. We need to start having these discussions right now, so things can be put in place for the future, the Chamber chairman added. As for the Bahamas present fiscal situation, Mr Rolle said that with an impending general election, addressing the increased national debt and fiscal deficits together with the rate of their increase was likely to be left until after May 2012. He acknowledged, though, that it was likely to be a policy priority for the incoming government, and officials were all too aware of what needed to be done. Right now, were not going to see any significant changes in that regard with an election coming up, but based on things said by government officials, theyre very aware of the debt situation and want to do things to mitigate that, Mr Rolle said. Confirming that the NCAA b asketball being hosted on P aradise Island was a major driver, the BHA president told Tribune Business: The advance promotion in markets where the colleges have c ome from have proven highl y successful, even to the point where JetBlue added additional aircraft to accommo-d ate the increased traffic. We are hoping to see length of stays for the tourn ament goers to be above our a verage with some arriving early this week and not leaving until next Sunday. A nd Mr Bowe added: The Battle 4 Atlantis is a major destination achievement for the entire Bahamas. It puts t he Bahamas in an entirely different league in terms of sports tourism, and lays af oundation for building upon the tournament and other sports-related activities. The media exposure we will receive as a destination was tremendous value. At least one other major hotelo n Paradise Island has report ed benefiting from the tournament this year. There have b een some tourism-related bookings at other properties as well. T he outlook for the impor t ant Christmas/New Year period, a prelude to the peak February-April winter season,i s also relatively promising, especially on the occupancy front, although rates andy ields still remain somewhat down amid heavy promotion al activity to drive business. A lthough emphasising it was still too early to be certain, Mr Bowe told Tribune Business: We anticipate atthis time that December and Christmas and the New Year period will be the strongest weve seen since 2007 in all categories. The BHA and Ministry of Tourism also yesterday released performance data for October 2011, which again showed an improved occupancy performance at Nassau/Paradise Island proper ties with rates and room rev enues down. Comparisons with 2008s performance were also aided by the fact that October in that year was just after the Lehman Brothers collapse, which sent the financial markets and world economy into the tank. Occupancy figures for the Nassau/Paradise Island resort industry in 2011 were a head of 2008 comparatives, although average daily room rates (ADRs $16.63. The average occupancy rate recorded by the 14 N assau/Paradise Island prop erties for October 2011 was 49.8 per cent, compared to 47.7 per cent in 2010, by room nights sold and room revenue were off year-over-year by 0.6p er cent and 1.6 per cent r espectively. ADRs were also down by $1.73, from $170.69 in 2010 to$ 168.96 this time. Available room nights also dropped by 4.9 per cent, due to the 391 rooms at SuperClubs Breezes, and 144 at Sandals Royal Bahamian, being closed for renovations. T he BHA/Ministry of Tourism said: While most hotels had lower ADRs forO ctober, excluding Breezes w hich was fully closed in October, seven of the 13 p roperties showed increases i n hotel room revenue. All of these properties a chieved higher resvenues through increases in room n ights sold, and not through increases in ADRs. In fact, only two of the 13 propertiess howed increases in ADR in October compared to last y ear. However, 10 showed increases in room nights sold. For the first 10 months of 2011, the Nassau/PI hotel i ndustry generated a 64.5 per cent occupancy rate, a slight improvement on last years6 4.2 per cent. Average ADRs were also up slightly, from $231.75 to $236.44. Room n ights sold were down 0.2 per cent, and room revenue up 1.8 per cent. The BHA/Ministry of T ourism said: Comparative figures for October 2008 showed a 43.2 per cent occu p ancy and a $185.59 ADR. Room nights sold, along with room revenue in October2 011, were 0.9 per cent above and 8.1 per cent below 2008 levels, resulting from an ADR that was $16.63 below 2008. Comparative figures to the end of October 2008 showeda 66.2 per cent occupancy and a $249.82 ADR. Room nights sold, along with room revenue for January to October 2011,w ere 8.2 per cent and 13.1 per c ent below 2008 levels. Preliminary air arrivals to Nassau to the end of Augustw ere down 3.6 per cent. BUSINESS T HE TRIBUNE WEDNESDAY, NOVEMBER 23, 2011, PAGE 5B Employment Opportunity A IRPORT SUPERINTENDENTR OLE: Supervise Airport plant operations to ensure safe and correct r eceipt, storage and distribution of the Companys aviation products and required activities are carried out in accord ance with the companys operating procedures; provide p rocedures and guidelines to ensure that operations (receipts, storage and distribution) are performed safely, efI HFWLYHO\DQGHIFLHQWO\&UHDWLQJVDIHDQGKHDOWK\HQYL ronment for all personnel involved with airport operation/ a ctivities. R EQUIRED 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 STUARTBOWE FROM page one HOTEL OCCUPANCIES -30 PTS UP FROM page one SALES/VAT TAX
SAN FRANCISCO Associated Press NETFLIXstock's free f all accelerated Tuesday as t he shares reached a 20month low amid intensifyi ng concerns about the video subscription service's ability to overcome public r elations problems and c ompetitive pressures. T he latest in a wave of s hare selloffs followed Netf lix Inc.'s decision to raise $ 400 million from investors by issuing debt and selling2.86 million shares of its slumping stock. That serveda s a reminder that Netflix hasn't been bringing in as m uch money as managem ent anticipated from a price increase that triggered mass cancellations and damaged the company's once-sterling brand. Fundraising Wedbush Securities analyst Michael Pachter, who had predicted Netflix's crash when it was still a hot commodity, interpreted the fundraising as a sign of m ore trouble ahead. He l owered his price target for the company's stock from $ 82.50 to $45. I n a Tuesday research n ote, Caris & Co. analyst D avid Miller described the f undraising as "a rhetorical signal" that the company is still struggling to retain subscribers after a mass exodus in summer and early f all. He dropped his price t arget from $77 to $59. N etflix described its f undraising as smart busin ess. "It's not that we need t he money, but it's always nice to have more money than you need," Netflix spokesman Steve Swasey said Tuesday. The company ended September with $366 million in c ash. Analysts also questioned the wisdom of selling 2.86 m illion shares of stock at $ 70 apiece to raise $200 m illion after spending nearly the same amount in the first nine months of they ear to buy back nearly 900,000 shares at an average price of $218. The stock sale looks more favorable if it's measured against all of the shares that Netflix has bought back during the p ast four years. Since 2007, N etflix has spent about $1 b illion to buy back nearly 23 million shares at ana verage price of $45 apiece. M any investors appear to be losing faith in Netflix's management team, which is led by company cofounder and CEO Reed Hastings. Netflix shares fell $4.02, or 5.4 percent, to c lose at $70.45 on Tuesday. The stock sagged to $69 earlier in the session, its lowest point since March2 010. Netflix market value has plunged by $12 billion, or 75 percent, since its stock p eaked at nearly $305 a s hare in mid-July. That's r ight around the time that the company announced plans to raise prices asm uch as 60 percent for U.S. subscribers to rent DVDs by mail and to stream video on devices connected to the Internet. Customers The higher prices infuria ted so many customers that Netflix lost 800,000 s ubscribers during the JulySeptember period by far the most the company has s uffered since introducing its DVD-by-mail rental serv ice in 1999. The backlash made it more difficult for Netflix to finance its expansion in Latin America and theU .K. while it also meets Hollywood's demands for higher fees to license movies and TV shows forI nternet streaming. Netflix expects those financial p ressures will mean a loss n ext year. It would be the c ompany's first annual loss in a decade. At the same time, Netflix i s trying to fend off threats from other Internet streaming services from competi tors like online retailer Amazon.com Inc. and satellite TV provider Dish Network Corp. T echnology Crossover V entures, one of Netflix's e arlier backers and still a major shareholder, is stand-i ng behind Hastings and t he company. The venture capital firm is buying $200 million in notes that won't collect interest and can be converted into stock valued at $85.80 per share before t hey mature in December 2018. The $200 million in Netflix stock is being pur c hased my mutual funds and other accounts managed by T. Rowe Price Associates Inc. BUSINESS PAGE 6B, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE Employment Opportunity Manitowoc Container Crane Operators Liebherr/Gottwald Mobile Harbor Crane OperatorsREQUIREMENTS: EXPERIENCE: PHYSICAL REQUIREMENTS: E-mail: firstname.lastname@example.org Or Fax: (242 On or before December 9th 2011 NO CALLS PLEASE NETFLIX HITS TWENTY MONTH LOW AS DEBT WORRIES MOUNT T HE EXTERIOR o f Netflix headquarters in Los Gatos, Calif. (AP
NEW YORK Associated Press A DOWNWARDrevision of U.S. economic growth int he third quarter sent stocks lower Tuesday. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis. The Commerce Departm ent reported that the U.S. economy grew at a 2 percent annual rate from July throughS eptember, down from its initial estimate of 2.5 percent. E conomists had expected the f igure to remain the same. The Dow Jones industrial average lost 53.59 points, or 0 .5 percent, to close at 1 1,493.72. Aluminum maker Alcoa Inc. led the Dow lower. The Dow had been down asm any as 113 points shortly before noon. The Dow plunged 249 p oints Monday as a congress ional committee failed to r each a deal to cut budget deficits. The deadlock raised f ears that rating agencies might lower the U.S. government's credit rating if Con-g ress tries to circumvent the a utomatic spending cuts that are supposed to occur in the event of an impasse. Some Republicans have said they would try to block cuts to defense spending. Markets are looking for clarity, and you didn't get that from the super-committee," s ays Steven Ricchiuto, chief economist at Mizuho Securi ties. "There's no reason to b elieve the economy is going t o get stronger." Across the Atlantic, there were more signs of trouble in E urope's debt crisis. Spain was forced to pay sharply higher interest rates in an auc t ion of short-term debt. The higher rates suggest that investors are still skeptical that the country will get its budget under control despite a new, center-right governm ent coming to power this week. Investors have been worried that Spain could become the next country to needf inancial support from its E uropean neighbors if its borr owing rates climb to unsustainable levels. Greece was forced to seek relief from its lenders after its long-termb orrowing rates rose above 7 percent on the bond market. The rate on Spain's ownb enchmark 10-year bond is dangerously close to that lev-e l, 6.58 percent. T he Standard & Poor's 500 f ell 4.94 points, or 0.4 percent, to 1,188.04. The Nasdaq composite fell 1.86, or 0.1 percent,t o 2,521.28. It was the fifth straight d ecline for the S&P 500, the l ongest losing streak since A ugust. The S&P has lost 5.5 percent over the past week on worries that Spain could g et dragged into Europe's debt crisis and as Congress neared a deadlock over cut t ing the U.S. budget deficit. T rading was relatively quiet ahead of the Thanksgiving holiday Thursday. Volume on the New York Stock Exchange was 3.9 billion shares, below the average of4 .7 billion over the previous 100 days. Netflix Inc. sank 5.4 percent to $70.45, the lowest lev e l since March 2010. The online video rental company said it raised $400 millionf rom selling debt and stock as it tries to recover from a con sumer backlash following p rice hikes. Campbell Soup Co. sank 5.3 percent to $31.84 after reporting a 5 percent drop inn et income. The company said price increases were not enough to offset lower volume in its soup and beverage b usinesses. M edtronic Inc. rose 4.4 percent to $34.75. The world's largest medical device maker reported higher-than-expected earnings and reaffirmed itsf ull-year earnings outlook. BUSINESS T HE TRIBUNE WEDNESDAY, NOVEMBER 23, 2011, PAGE 7B NEW YORK Associated Press THEU.S. Department of Justice said Tuesday that drug maker Merck will pay $950 million to resolve inves tigations into its marketing of the painkiller Vioxx. The agency said Merck will pay $321.6 million in criminal fines and $628.4 million as a civil settlement agreement. It will also plead guilty to a misdemeanor charge that it marketed Vioxx as a treatment for rheumatoid arthritis before getting U.S. Food and Drug Administra tion approval. Merck stopped selling Vioxx in 2004 after evidence showed the drug doubled the risk of heart attack and stroke. In 2007, the company paid $4.85 billion to settle around 50,000 Vioxx-related lawsuits. The Justice Department said the settlement resolves allegations that Merck made false, unproven, or mislead ing statements about Vioxx's safety to increase sales and made false statements to Medicaid agencies about its safety. Merck said the settlement does not constitute an admission of any liability or wrongdoing, and it said the government acknowledged that there was no basis to conclude that Merck's upper-level management was involved in the violations. Merck also entered into an agreement about its sales, marketing, publication and government pricing activities. The Justice Department said that agreement strengthens oversight of the company. It will require top officials to complete annual compliance certifications, and the company will post information about physician payments on its website. The company took a charge of $950 million in the third quarter of 2010 to cover the anticipated settlement payments. Vioxx was approved by the FDA in 1999, but the government did not initially approve the drug for use in rheumatoid arthritis. That meant doctors could write pre scriptions for Vioxx for rheumatoid arthritis patients, but Merck could not promote the drug for that use. The Justice Department said Merck promoted Vioxx for rheumatoid arthritis for three years and continued to do so after getting an FDA warning letter in 2001. The drug was approved as a treatment for rheumatoid arthritis in 2002. The government will get $426.4 million from the settlement, and $202 million will be distributed to state Medicaid programs for 43 states and the District of Columbia. MER CK WILL P AY $950M T O SETTLE VIOXX INVESTIGATION STOCKS SLIDE AS US GOVT LOWERS GROWTH ESTIMATE T HESCENE o n the floor of the New York Stock Exchange yesterday. (AP
BUSINESS PAGE 8B, WEDNESDAY, NOVEMBER 23, 2011 THE TRIBUNE N EW YORK A ssociated Press C AMPBELL SOUP CO. said Tuesday t hat its first quarter net income fell 5 percent as the company worked to turn aroundits soup business in the U.S. and expand internationally. Profit was better than expected, mainly due to lower spending on advertising and fewer shares outstanding. But revenue m issed expectations as volume declined due t o higher prices. The company, like other f ood makers, has raised prices to offset h igher costs for ingredients and other mater ials. S hares fell over 5 percent Tuesday. "Consumers continued to be impacted by the challenges in the global economy," during the quarter, said CEO Denise Morrison during a call with analysts. "There's little doubt that the pronounced caution andrestraint that have characterized consumer b ehavior since the onset of the financial crisis are now the 'new norm' for the food and beverage sector." T he Camden, New Jersey-based company i s trying to regain lost ground after several y ears of declining soup sales. U.S. soup sales fell 4 percent during the quarter as higher prices hurt volume. Shoppers havec urbed their soup consumption, stopped stocking pantries or shifted to competitor's brands. Campbell is in the early stages of a turnaround plan that includes adding high-e nd soups and broadening offerings in its snack, beverage and other categories. The company lowered prices on soup last year in promotions, causing tough compar i sons for this year. Campbell Soup also cut its advertising spending, shifting ad dollars to later in the quarter to more closely cor r espond with soup season. D espite higher prices, Morrison said the sales decline was not as pronounced as expected, helping profitability. Morrison said Campbell is aiming to stabilize the soup division's profitability and will then try to d rive revenue growth. Sales were weak in other categories as well. U.S. beverages sales slipped 3 percent a s the company's V8 brand was hurt by h igher prices for juice concentrate and packa ging and increased competition in the vegetable juice sector. S ales volumes dropped for the Australian A rnott's biscuit brand, and sales of the soup, sauce and beverage division declined in Europe. A bright spot was Goldfish crackers and Pepperidge Farm's Milano Melts and new Cracker Chips, which sold well. Sales in the global baking and snacking unit rose 4 perc ent to $568 million. O verall, net income fell to $265 million, or 82 cents per share, in the quarter ended O ct. 30, from net income of $279 million, or 8 2 cents per share, in the same period last y ear. There were about 5 percent fewer shares outstanding at quarter's end than a year ago, which helps boost earnings per share. Analysts polled by FactSet expected 79 cents per share. Revenue fell less than 1 percent to $2.16 b illion from $2.17 billion. Analysts expected revenue of $2.21 billion. Campbell affirmed its guidance for fiscal 2012. It expects revenue to be flat to up 2p ercent, which translates to revenue of $7.72 b illion to about $7.87 billion. It predicted adjusted earnings of $2.35 to $2.42 per share. A nalysts expect net income of $2.38 per share on revenue of $7.83 billion. Shares fell $1.77, or 5.27 percent, to close at $31.84 Tuesday. When adjusted for divi d ends, the stock price was almost unchanged this year through Monday's close. CAMPBELL SOUP 1ST-QUARTER NET INCOME FALLS A N OPENED CAN o f Campbell's Tomato soup. Campbell Soup Co. said Tuesday, Nov. 22, 2011, fiscal first-quarter net income fell 5 percent as price increases were not enough to offset lower volume in its soup and beverage businesses (AP Company aiming to expand internationally Associated Press HORMEL FOODS CORP.'s fiscal fourthquarter profit slipped 3 percent as weak sales a nd higher ingredient costs hurt the maker of Spam, Dinty Moore stew and other packaged food brands. It's a struggle playing out regularly for food m akers these days: they need to raise prices to cover higher costs but risk losing cost-conscious shoppers. H ormel said Tuesday that its total sales volume fell 7 percent, but higher prices helped nudge its revenue up and protect some of itsp rofit. As a result, the company was able to deliver earnings per share that beat analyst expectations and it issued 2012 guidance above estimates, which sent its shares higher in late morning trading. The company, based in Austin, Minn., said its net income fell to $117.3 million, or 43 cents per share, for the period that ended Oct. 30. That's down from $121.1 million, or 45 cents per share, in the same quarter last year. It also beat the 42 cents per share that analysts sur veyed by FactSet forecast. Its earnings per share were adjusted to account for a previously announced 2-for-1 stock split. There was also one less week in the current quarter. Revenue edged up 2 percent to $2.1 billion but missed Wall Street's $2.13 billion estimate. It was the second quarter in a row that the prepared foods maker dealt with slower sales volume as a result of higher prices. Like many food makers, Hormel has raised prices on its products to offset rising costs for everything from grain to packaging. On Monday, Tyson Foods Inc. reported that its fourth-quarter net income slipped as higher grain costs offset better prices and revenue, particularly in its chicken business. Hormel reported that its operating profit rose in four of its five operating segments: grocery products, Jennie-O turkey, specialty foods and other products. The biggest drag for Hormel came from its refrigerated foods division, where its operating profit fell 19 percent because of declining pork operating margins and increased commodity costs. The company reported that revenue rose in all but one of its segments but sales volume fell across the board. "Clearly, in the long run, we're looking to grow volumes of our value-added franchises," Hormel CEO Jeffrey Ettinger said. "But as long as we continue to be in this kind of pricing environment, you will continue to see larg er net sales increases; then you will see volume increases. Hormel's full-year earnings rose 20 percent to $474.2 million, or $1.74 per share, from $395.6 million, or $1.46 per share, in the prior year. After adjusting for costs tied to the clo sure of a plant and other one-time items, the company earned $1.51 per share for the year versus $1.46 a year earlier. Annual revenue increased 9 percent to $7.9 billion from $7.22 billion. The company said it expects to continue to struggle with volatile raw material costs, high er grain costs and potentially a decline in its meat processing margins in the coming fiscal year. Hormel said it will continue to take strategic and modest price increases as needed to offset rising costs. Hormel said it anticipates 2012 earnings in a range of $1.79 to 1.89 per share. Analysts had been expecting earnings of $1.77 per share for the year. The company expects its grocery products, specialty foods and its international business to drive its fiscal 2012 profit growth. Ettinger cautioned that comparisons will likely be more difficult in the first half of the year, getting more favorable later in the year. Late Monday, Hormel increased its annual dividend by 18 percent to 60 cents per share from 51 cents per share. Hormel's shares fell 1 cent Tuesday, to close at $28.82. HORMEL FOODS 4Q NET INCOME FALLS, REVENUE RISES