WEATHER TRY OUR PINA COLADA McFLURRY HIGH 89F LATEST NEWS ON WWW.TRIBUNE242.COM LOW 81F The Tribune SUNNY, THE PEOPLE’S PAPER T-STORM BIGGEST AND BEST

Volume: 107 No.235 FRIDAY, SEPTEMBER 9, 2011 PRICE – 75¢ (Abaco and Grand Bahama $1.25) INSIDE TODAY: THE SEASON STARTS HERE - GET YOUR NFL2011SPECIALEDITION Car found WELL-KNOWN SAILING CLUB MEMBER IN HOTEL FALL TRAGEDY By AVA TURNQUEST as a suicide, according to detectives who Tribune Staff Reporter discovered a note inside his room at the in mystery [email protected] Radisson Ambassador Plaza Hotel & Casi- no, in San Juan. A WELL-KNOWN Nassau sailing The contents of the note have not been enthusiast who had been missing for some disclosed as police continue their investi- time has died after falling eight floors from gations. the balcony of his hotel in Puerto Rico. Edward Ramirez, police spokesman, said Jack Donald, 53, died of his injuries in that the suicide was reported at the hotel hospital. shortly after 11 am, Friday, September 2. Police confirmed the tragedy took place Mr Donald survived the fall and was taken last Friday. deaths case Mr Donald’s death has been categorised SEE page eight Discovery ‘raises suspicions of foul play’

By CELESTE NIXON tra was spotted Wednesday Tribune Staff Reporter night by a passing jogger who [email protected] read about the search for this “missing piece” of the inves- THE discovery of the car tigation in the news. belonging to a woman and According to Supt Paul child found dead in Nassau Rolle, officer in charge of the Harbour on Tuesday has Central Detective Unit, sug- raised suspicions of foul play, gestions that the car was dri- police sources said. ven by someone after the Officially, the police are mother and daughter died awaiting autopsy results does not necessarily mean before classifying the deaths they were murdered. – and are quick to point out He pointed out that some- they have yet to uncover any one might have stolen the car evidence of wrongdoing. from another location where However, sources within the victims left it and brought the force say clues connected it to the Cricket Club on POLICE OFFICERS remove the car which belonged to Amanda Seymour Burrows from the Cricket Club on West Bay Street. to the discovery of the car Wednesday. Tim Clarke/Tribune staff near the Cricket Club on The bodies of Amanda West Bay Street have left Seymour Burrows, 32, and investigators open to the pos- her five-year-old daughter STORM WILL HAVE ‘SLIGHT’ EFFECT ON BAHAMAS sibility they were murdered. Kaysha Burrows were pulled DEPUTY PM ACCUSES FORMER CANDIDATE Among these is the fact from the waters behind Eliz- TALK SHOW HOST OF FOR PLP NOMINATION that the car was not seen abeth on Bay Plaza Tuesday there at any point on Tues- morning. PERSONAL VENDETTA SHOT AND KILLED day – meaning someone had Police said there were no By SANCHESKA BROWN By PAUL G TURNQUEST to bring it there after the visible injuries on the bodies Chief Reporter bodies had already been of either of the victims. DEPUTY Prime Minister [email protected] found. Brent Symonette has accused Police said the Nissan Sen- SEE page nine talk show host Steve McKin- A FORMER candidate for ney of having a personal the PLP’s nomination in the vendetta against him and of Marathon area was shot and killed in Fox Hill on Wednesday making “ludicrous” com- evening. ments in an effort to slander Described as a community his name. leader by his peers and col- Mr Symonette’s comments leagues, the reports of Neil Per- came after he was informed centie’s death sent shockwaves that Mr McKinney had sug- through the Union Village area gested that he was somehow yesterday. benefiting from the govern- His death has been described ment’s extensive road work by eyewitnesses as a “senseless project, to the tune of mil- TROPICAL storm Maria will only have a “slight” killing.” affect on the country, according to meteorologists. According to police sources lions of dollars. last night, Mr Percentie had While admitting he did not The storm was expected to weaken to a depression last been travelling in a white two- hear the report personally night, according to Accuweather, whose storm projections door Honda around 8.30pm because he does not “listen indicated that the system is likely to pass over the south- with a male relative and three to garbage,” Mr Symonette ern Bahamas. young women when the car was said he is not surprised by Mr Tropical Storm Maria formed in the Atlantic yesterday, fired upon. Seated in the back McKinney’s comments. becoming the 13th named storm in the 2011 hurricane seat of the vehicle, Mr Percentie SEE page eight season. SEE page eight

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER

PAGE 2, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE LOCAL NEWS

CURRY EYES PRIME MINISTER’S SEAT PLP CONTINGENT TOURS NORTH ABACO

CONSTITUENCY WITHBy MEGANLOCAL REYNOLDS CANDIDATEAs township chairman for Murphy Tribune Staff Reporter Town and member of the central Aba- [email protected] co district council, Mr Curry, who was Daniel Johnson ratified by the PLP on May 5, said his PRE-ELECTION politics reached party would offer a support structure the prime minister’s constituency this for local government that is missing week as the leader of the PLP and his under the FNM. JOHNSON top MPs toured the area with local “My advantage is that I live here, I candidate Renardo Curry. experience what they experience,” Mr SCRUTINISES Confident and unafraid, the Mur- Curry said. phy Town businessman hoping to steal “I intend to be there on the ground the prime minister’s seat believes his for the people, to listen to their con- POOR WORKING youth and commitment to local people cerns, the issues that really affect them gives him the edge over the North socially.” CONDITIONS AT Abaco MP of the last 34 years. On a road-trip from Marsh Harbour to Crown Haven at the western tip of Issues MEDICAL CLINIC north Abaco, the PLP contingency By MEGAN REYNOLDS including deputy leader Philip ‘Brave’ There are major issues to be DAMAGES: Coopers Town dock in shambles after Hurricane Irene. Tribune Staff Reporter Davis, party chairman Bradley addressed in education, Mr Curry said, [email protected] Roberts, and MPs Ryan Pinder and as there is a need for a vocational Fred Mitchell, Shane Gibson, as well training college to give young people POOR working conditions as new candidates, stopped at homes who are not academically inclined an that led nurses at the Marsh and businesses to talk to local people opportunity to be trained in job skills. Harbour medical clinic to and survey hurricane damage after And he would like Abaco residents walk off the job this week Irene. to have more opportunities to win job were scrutinised by PLP can- In the well-groomed settlement of contracts for construction projects, the didate for Carmichael Daniel Cooper’s Town, where Prime Minister PLP candidate said. Johnson on a party visit to Hubert Ingraham was raised and still “I believe strongly that I will get Abaco on Wednesday. has a home, they saw damage to roofs, in,” he said. No air-conditioning, the public dock and at the gas station “I have support from the leader of mouldy ceilings and blocked run by PLP supporter Medious Edge- the PLP and the MPs who have toilets drove five of the clin- combe who has successively run the pushed for me. ics six nurses out of work for town gas station for 55 years, and “We have a large contingency of two days as repairs got under painted the pumps blue and yellow in young people that are behind me; peo- way and doctors treated tribute to his party. ple who are tired of just business as patients on an emergency- usual. only basis. “We believe that the change has to Dr Johnson, of the Walk- come now for us and the generation In medical clinics, said it was Political Oddity after us.” disappointing to see the most However taxi driver Ronald Murray Although the prime minister may important of Abaco’s six Coopers Town service station owner and party supporter said Mr Edgecombe is somewhat of a have pleased Abaconians by solving healthcare centres out of STRONG SUPPORTER: political oddity in Coopers Town ongoing issues with electricity supply action. Medious Edgecombe stands in front of one of his gas pumps that he painted blue and yellow in tribute to the PLP party. where Mr Ingraham has ensured the by building a $105m power plant in The clinic, run by two doc- roads are smoothly paved, there are Wilson City, and starting the long- tors and six nurses, typically street signs are on every corner, dual awaited rebuild of Marsh Harbour sees 60-100 patients a day, aluminum street lights hang over the international airport, Mr Curry said but this week has been serv- seafront road, sidewalks line the he can offer something the prime min- ing only emergency cases. streets and government buildings, ister cannot. “I think it’s unsanitary for “What we are seeing now is mil- staff here,” Dr Johnson said. including an impressive two-storey “Public health is all about health clinic, are well-kept and lions of dollars being spent in Abaco prevention and control of dis- appeared undamaged by the storm. and we believe that because it’s being ease, and that is where to put “In Coopers Town it’s hard to win,” spent so close to the election it’s obvi- your resources. he said. ous that it’s politically motivated,” Mr “But there are no staff “People highly appreciate what he Curry said. here today so they are not has done. “So we hope people will be able to able to carry out their man- “But in Dundas Town, Murphy see through this political scheme and date. Town and areas like that, they are choose someone who is going to be “It’s disappointing.” questionable areas. there for the people to deal with their Dr Johnson said the clinic “So if you give him the middle and needs. – required to provide preven- take the two ends, it could be done.” “We were hoping that our prime tative care, maternity ser- PLP hopeful Renardo Curry said minister will have honoured his word vices, orthopedics, and pre- he is confident he can win the seat as and retired, but as that doesn’t seem pare patients for airlifting to many Abaconians are ready for a to be the case, I guess we will have to hospital emergency services – GANG’S ALL HERE: PLP party leaders socialising in North Abaco. change. retire him.” should be state-of-the-art. And building a hospital for the community, as the PLP had intended to do in 2008, is long overdue, he said. “Public health has fallen CONCERNS RAISED OVER THE ‘DETERIORATING’By CELESTE STATE NIXON OF THE PI BRIDGE down on the job,” he said. Tribune Staff Reporter [email protected]

THE appearance of the Paradise Island bridges – particu- Share larly the older one – has sparked public concern and calls for immediate repairs. your Photos sent to The Tribune showed a number of large cracks in the old bridge’s support beams, as well as rusty news reinforcing bars exposed where layers of cement had fallen away. The Tribune wants to “The bridges are in urgent state of disrepair – when will hear from people who are they be fixed?” asked one man. making news in their Minister of Works and Transport Neko Grant said while neighbourhoods. Perhaps there are visible signs of deterioration, they are only super- you are raising funds for ficial and the bridge is structurally sound. a good cause, “Engineers have determined that it is not a structural con- campaigning for cern, but we will make the necessary repairs,” said Mr Grant, improvements in the area who added that the relevant contracts have been signed. or have won an award. He added that some underwater work has already been If so, call us on 322-1986 completed on both bridges. and share your story.

DECAY: Pictured are a number of large cracks in the old bridge’s support beams, as well as rusty rein- forcing bars exposed where layers of cement had fallen away.

THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 3 LOCAL NEWS CLAIM THAT PRACTICE ‘DOES NOT SUPPORT THE LOCAL ECONOMY’

BUSINESSESBy TANEKA THOMPSON VOICE CONCERN OVER HURRICANE“Most DUTYUS (stores) don't EXEMPTION stock shin- Minister Hubert Ingraham POLICY signed an exi- Deputy Chief Reporter “The government should try and get gles, Florida has a lot of roof tiles. gency order to allow duty-free imports of [email protected] (people) to shop locally. I've always main- "Lumber is already duty-free. I've building materials and agriculture sup- actually out bid American companies plies, among other things, for those hard SEVERAL businesses voiced con- tained that for the regular Joe Blow that on a lot of items in the past. hit by the storm. cerns about government's duty exemp- "If you go to the US, if you only have The prime minister's order allows the tion policy for hurricane victims argu- goes to the States, he should pay more on minor repairs to get a good rate in ship- waiver of duties on the importation of ing that the practice does not support duty than the company trying to make a ping it's not going to be as cheap as most building materials, electrical/plumbing the local economy. people think. Most of the time they fixtures and materials, household furni- A few company managers said gov- living and giving other people jobs.” wouldn't save," said Mr Culmer, who ture, furnishing and appliances. ernment should have directed those who has already had orders for building sup- Other items include materials for the suffered loss from the storm to purchase plies from customers in Eleuthera and reconstruction and repair of greenhous- goods inside the country. Raymond Collins, general manager at Tops Lumber Cat Island. es, supplies for the reconstruction and "The government should try and get Amanda Meyers, manager of Fox Hill repair of poultry houses, and supplies (people) to shop locally. I've always ent way so (victims could) have gone to manager of Kelly's Lumber Yard, Nursery, said she does not have a prob- for the reconstruction and repair of irri- maintained that for the regular Joe Blow the local businesses." believes the duty exemptions will not lem with the exigency order because she gation systems. that goes to the States, he should pay Multi Discount Furniture manager put a damper on his business. doubts local nurseries can fill the demand Nursery stock for the re-establishment more on duty than the company trying to Diane Arnett said her company handles He said his company has competitive needed to replace crops or greenhouses of fruit orchards; items required for fenc- make a living and giving other people a lot of orders from the Family Islands. prices that often beats those in Florida or destroyed by Hurricane Irene. ing; galvanised sheeting and other mate- jobs," said Raymond Collins, general She also thinks government should other parts of the US. "If it hit us (in New Providence) and rials used in the construction of fishing manager at Tops Lumber, who thinks have encouraged storm victims to buy "We always have a good inventory on the shoe were on the other foot, I defi- habitats; fishing boats; fishing gear and the move will send more business Bahamian. "I think that would have been a lot of stuff like shingles – I don't think nitely would want to bring in the things apparatus; motor vehicles; motor cycles abroad. better," she said. they'd beat the price by shipping it out of duty free," she said. and golf carts are also listed on the exi- "It should have been worked a differ- However Danny Culmer, general the US. In the wake of Hurricane Irene Prime gency order.

DNA CANDI- ELECTION 2012 DATE Roscoe Thompson III, the former chief councillor DISENCHANTED FNM VOTERS IN MARSH HARBOUR ‘MORE LIKELY TO VOTE DNA’ who stepped By MEGAN REYNOLDS know Roscoe’s going to stand dent said he believes it is the Prime Minister Hubert Ingra- down from the Tribune Staff Reporter up and make noise for Abaco; impartial voters under 35 who ham. Central Abaco [email protected] he’s going to say something will swing the election, as they “I don’t think it’s a threat at District Council. when others might just com- see little difference between this time especially in North AS PLP party leaders plain. the FNM and PLP and are ask- Abaco,” he said. attempted to build support in “There is dissatisfaction ing more questions of the can- “We believe that people Abaco this week, disenchanted with the present representa- didates. here are either loyal PLPs or FNM voters in Marsh Harbour tive because for the most part “I have a growing faith in FNM. said they are more likely to go he has not been visible. the DNA,” he said. “People want change – not green. “Last year when we had so “I think they are genuinely so much from the party – but DNA candidate Roscoe many power outages, one of trying to restore in a sense of from representatives. Thompson III, the former chief the big questions in our protest democracy by bringing it back “They want someone who councillor who stepped down was ‘Where is our MP?’ to the people, because they are knows the needs of the people from the Central Abaco Dis- “You don’t see representa- willing to listen to the people and is on the ground.” trict Council for the chance to tion for Abaco in Parliament and they are going to come represent his community on a now, you don’t hear Edison back to the people and national scale, appears to be Key fighting for things for find out what do the people drawing in votes from both dis- Abaco, and Abaco feels left want.” satisfied FNMs and faithful out. PLP candidate for North PLPs as more than 500 people “There is also dissatisfac- Abaco, Renardo Curry, said swarmed the launch of the tion with the FNM in general, he does not fear a DNA com- DNA party at the Abaco as central government deals petitor in the seat he is vying Shopping Centre in Marsh with Nassau first, and Abaco for, currently occupied by Harbour last week. feels like a second-class citi- The crowd was largely zen. made up of disenchanted FNM “We have roads here that voters seeking to support a are well overdue for repairs, candidate that will give them we have been in need of an better representation in Par- airport for 20 years at least, the liament, noted one local polit- power station upgrade was just ical observer, who said a small done, and not even that was fraction of the interested voters done properly, and some of the were traditionally PLP sup- blame is on the government porters. and some is on the MP.” He said: “Generally people The Marsh Harbour resi-

NON-PROFIT SECTOR PARTNERSHIP

ByNEWNOELLE NICOLLSRESOURCES FORinformation URBAN with them in a RENEWALslight- Dr Keith Diem, CENTRES Florida 4-H Programme Tribune Staff Reporter ly different way. It is not about Leader, said: “The way 4-H started in the [email protected] us telling them what to do, how United States is similar to how it is starting they have to do it, when they have (in the Bahamas). People wanted to see a URBAN Renewal Centres to do it,” said Shelagh Pritchard, difference made for youth around the coun- across the island are set to receive Bahamas 4-H Coordinator. try. new resources thanks to a part- “What we do is impart the “It is not an accident that it started at the nership in the non-profit sector information and ask them to take grass roots level. People said hey, we want that was solidified this week. it and develop it. We give them to help kids. We want to make a differ- The Lignum Vitae Centre of the responsibility. We want them ence.” Hope (LVCH) signed an agree- to inquire. We want them to use The 4-H approach recognises that chil- ment with the Florida branch of their minds. We want them to ask dren need to learn more than reading, writ- the international 4-H Youth questions, which is very different ing and other basic skills learned in school. Development Programme to than how all of us have grown up. He said 4-H helps children to develop bring youth activities and training If we can’t engage them, we lose “thinking skills, public speaking skills, get- opportunities to service clubs in them, and we know we are los- ting involved in helping others.” the Bahamas. ing them. This is why this pro- Loretta Butler-Turner, Minister of State The new agreement officially LORETTA gramme is very important for us in the Ministry of Labour and Social Devel- makes Bahamas 4-H a pro- BUTLER-TURNER to take into the communities that opment, witnessed the signing earlier this gramme of LVCH. By harness- are looking for activities after week, at the official launch of 4H Bahamas. ing the network of Urban Renewal cen- school, weekends, summer programmes,” “I firmly believe that the 4-H Club pro- tres, LVCH hopes to implement local clubs said Ms Pritchard. gramme has the potential to develop our across the island, and fulfil its mission of Florida 4-H, which is administered by youth into truly productive citizens and creating “supportive environments for the University of Florida (UF), provides true role models for future generations of diverse youth and adults to reach their support to the local operation. Norma Bahamians. fullest potential.” Samuel, UF Project Team Leader, said vol- “I am confident that the goals and objec- “It is learning by doing for our youth. unteers in the United States collected 6000 tives of this programme, as they were We want them to learn the life skills that books in a Bahamas 4-H book drive to explained to me today, would impact the some of them are not having the opportu- donate to local clubs. Ms Samuel played development of the youth of our society nity to learn. We want them to learn to be an key role in the development of Bahamas and hence the development of our society productive citizens. We want them to learn 4-H from the needs assessment stage to in a very positive manner,” said Ms Butler- to think for themselves. It means sharing the implementation. Turner at the launch event.

PAGE 4, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE EDITORIAL/LETTERS TO THE EDITOR The Tribune Limited The FNM 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., opened up (Hon.) LL.D., D.Litt .

Publisher/Editor 1919-1972 Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. the airwaves Publisher/Editor 1972-

Published Daily Monday to Saturday EDITOR, The Tribune. FNM opening up the air- waves is because when a Shirley Street, P.O. Box N-3207, Nassau, Bahamas TO ALL those persons LETTERS new government is formed, Insurance Management Building., P.O. F-485, Freeport, Grand Bahama who were born after 1992 or [email protected] by whomever, I hope they may have lived on Mars for do not answer every criti- TELEPHONES the past 19 years please be cism by stating their accom- informed that the FNM gov- citizens in their own coun- plishments and what they S witchboard (News, Circulation and Advertising) 322-1986 try. Advertising Manager - (242) 502-2352 ernment opened up the air- were first to bring to the waves in the Bahamas. Pre- • The current state of Bahamas. Can you imagine Circulation Department - (242) 502-2386 unrest among civil servants. Nassau Fax: - (242) 328-2398 vious to them being elected the next government being The Bahamas only had one Including, but not limited to, the PLP and they start Freeport, Grand Bahama: 1-(242)-352-6608 the nurses, BEC, BTC, Freeport fax: (242) 352-9348 radio or Television station, answering with all their the government owned Water & Sewerage Corpo- accomplishments and the ZNS. ration, Customs, Immigra- magnitude of them? Imag- WEBSITE The above statement tion, the Police and the ine starting with Majority w ww.tribune242.com – updated daily at 2pm should be taught in every Defence Force, etc. Rule and then going on to: school and the recitation of It seems that the overall • Independence it should be made a require- answer to all of these is that • The best economy in the ment. It should be posted at the FNM opened the air- Caribbean Gloomy outlook for world economy the national airport and waves and that is why peo- • The Bahamianisation those on the Family Islands, ple could say these things on project the airwaves. Well as I’ve LONDON — Economic growth in and the associated turbulence in stock on all seaports, Paradise • The government schol- Island and be made a said that is the indisputable arship programme that much of the advanced world is near stag- markets over the summer have not yet truth, but I think that the nation and set to remain limp through fully fed through into the indicators requirement for the signing resulted in the development on and signing off for all FNM government should of our current leaders. the rest of the year, although a downturn underpinning the projections," the report not sell themselves short as I on the scale of the last one appears said. local radio and television • The creation of the mid- stations. This must be done know for a fact that there dle class Bahamian unlikely, an international research group Growth in Japan is expected to be are other positive things that said Thursday. buoyed by post-disaster reconstruction, so that the country would • The Central Bank be able to get on with gov- they have done. In fact • National Insurance The Organization for Economic Coop- although its effect should fade by year- thinking hard about it I can eration and Development, or OECD, end. And Germany and Italy are both ernance and tackle the myr- • Etc, etc, etc. iad of problems that we are even name a few: There would so much to said the recovery from the so-called Great likely to see contractions during one quar- • Atlantis Recession almost came to a halt in the ter of the second half. presently encountering. talk about that they would The leader of the Opposi- • Stipends and rewards for certainly not have time to second quarter of this year in many of But the report said that uncertainty elite athletes its 34 members, including the United surrounding the projections was particu- tion recently delivered a govern because of the sheer message to the Bahamian • Increasing funds and numbers and we do not States and the euro area. larly high. exposure for the local regat- In its latest outlook, the Paris-based The main risks in the second half public and commented on want that. So for the sake of the current state of crime in tas and junkanoo. good governance by what- group said a number of factors had dark- include a possible intensification of • Introducing an aggres- ened the picture since its last report in Europe's debt crisis; further balance-sheet the country. Also, not so ever party wins, to all con- positive statements have sive government low cost cerned please note, the May. problems for banks; additional business- housing scheme These included the recent gridlock es running down inventories amid weak also been made via the air- FNM opened up the air- waves about: • And maybe a few others waves in The Bahamas. over U.S. fiscal policy, the eurozone sov- consumption; and the risk that unem- that don’t come to mind at ereign debt crisis, continued bank bal- ployment rates in some economies could • The Dengue epidemic • The road works and this time. ance-sheet problems, slowing trade flows become entrenched. One of the reasons that I and concerns about whether the existing But it also said that the unwinding of their affects on the local ARNOLD F BAIN Jr over-the-hill small business- hope everyone on earth is Nassau, economic policy tools can offset any fur- temporary factors that had dampened aware of the fact about the ther weakness. growth in Germany — like the shutdown men. September 7, 2011. ''The risk of more negative growth of nuclear plants — and in France, such as • Murders going forward has become higher in some the effects of phasing-out car scrapping • Immigration major OECD economies, but a down- subsidies, "may prompt a sharper than • Unemployment turn of the magnitude of 2008 and 2009 is projected rebound in activity in the third • Inflation not foreseen," it said. quarter." • Hurricane Irene Three man rat In Japan, growth was less negative In addition, data on the federal budget • The performance of than projected in the immediate after- had been better than expected so far this NEMA. math of the March earthquake and sub- year in the United States, it said. • Public debt. sequent nuclear disaster, it said. But activ- The report said that official interest • Grand Bahama. ity in China slowed in the course of the rates in most advanced economies should • The sale of BTC and the race in Bain and first half and manufacturing production be kept on hold. If in coming months current poor performance there weakened. signs emerge of enduring economic weak- of CWS already. The OECD projected that growth in ness, the OECD said rates should be low- • The “retirement” of the Group of Seven economies excluding ered where there is scope. Where there is staff at ZNS. Grants Town Japan would remain less than 1 per cent no scope, other measures could include • The street lights. at annualized rates on average in the sec- further central bank intervention in secu- • School grades and the EDITOR, The Tribune. ond half of this year. rities markets, even if that brings dimin- educational system on the It predicted a U.S. expansion of 1.1 ishing returns, it said. whole. THE last shoe has fallen and Mr Rodney Moncur, former per cent in the third quarter and 0.4 per The governance of the eurozone must • The current situation leader of the Workers Party, political activist, recently convert- cent in the fourth. For the three largest still be improved and the capitalization of with regards to government ed Catholic, recent new member of the Democratic National eurozone countries — Germany, France banks in the region strengthened to stop scholarships. Alliance (DNA), has been declared this standard bearer for that • The current situation party in Bain and Grants Town Constituency. The Bahama and Italy — the forecast was for 1.4 per contagion and restore confidence, the Press that had waged a wicked campaign against Mr Moncur, cent in the third quarter and negative 0.4 report said. with regards to the govern- day and night for six months failed and were seen to be wrong in per cent in the subsequent three months. ment low cost housing their predictions. ''The impact of the sovereign debt (By Matthew Saltmarsh – c.2011 New scheme. Mr Ortland Bodie, talk show host who lumped Mr Moncur woes in Europe and the United States York Times News Service). • The majority of Bahami- with rejected candidate Mr Whitney Bastian, is seen to be wrong ans feeling like second class in his wishful thinking. The kitchen cabinet of the Breakfast Club at McDonald’s in Oakes Field that cast lots on the outcome of this nomination were numb at the results; free breakfast for all! This three man rat race in Bain Town between two time rep- 127,&( resentative Dr Bernard Nottage, the Rev Dr C B Moss and 127,&( LV KHUHE\ JLYHQ WKDW /RXLVH 'LDQH 'LFHQRUG RI activist Rodney “the Hammer” Moncur, is the first line up that 32%R[*HQHUDO'HOLYHU\7KRPSVRQV/DQH1RUWK3DOPHWWR catches political onlookers’ eyes. It is threatening to become a 3RLQW (OHXWKHUD %DKDPDV LV DSSO\LQJ WR WKH 0LQLVWHU volatile and explosive event; the outcome is anybody’s guess. UHVSRQVLEOH IRU 1DWLRQDOLW\ DQG &LWL]HQVKLS IRU UHJLVWUDWLRQ But, as the same goes; “The first rat gets his tale in the hole QDWXUDOL]DWLRQ DV D FLWL]HQ RI 7KH %DKDPDV DQG WKDW DQ\ his...is covered!” SHUVRQ ZKR NQRZV DQ\ UHDVRQ ZK\ UHJLVWUDWLRQQDWXUDOL]DWLRQ Looking forward to a most interesting political season and VKRXOG QRW EH JUDQWHG VKRXOG VHQG D ZULWWHQ DQG VLJQHG promise much to say! VWDWHPHQW RI WKH IDFWV ZLWKLQ WZHQW\HLJKW GD\V IURP WKH QG TONY FERGUSON GD\ RI 6HSWHPEHU  WR WKH 0LQLVWHU UHVSRQVLEOH IRU Nassau, QDWLRQDOLW\DQG&LWL]HQVKLS32%R[11DVVDX%DKDPDV September, 2011. BAKERY PRODUCTION Frustration with MANAGER POSITION A commercial bakery requires the services of a the new ‘tent city’ Bakery Production Manager EDITOR, The Tribune. day to have their stalls out on the wharf. There is no | THE SUCCESSFUL CANDIDATE: PLEASE allow me space room for these legitimate, to vent my frustration with craftspeople with a right to • Must be an experienced manager the new “tent city” that has be there anymore because with good people skills sprung up on Woodes the whole block of Woodes Rodgers Walk since the hur- Rodgers Walk has now been ricane. It is a total free for all taken over. • Must be computer literate and have with over 150 tents taking This is a disgrace and the up every square inch of the government should be had inventory control experience entire length of the wharf. embarrassed to see their A large percentage of the downtown district become tents are opportunists who a tent city occupied by peo- • Must have experience in ordering never even had a straw mar- ple with no business license ket stall. putting tents up wherever and monitoring raw materials I own a business on they choose. Woodes Rogers Walk, I pay Even the police office has a huge rent, salaries, pow- been completely surrounded • Previous bakery production/ er, and water to have access by tents. Shame on you to tourists walking in town. FNM. managerial experience would I have lost 50 per cent of be an asset my business since the hoard of vendors took over the A CONCERNED entire wharf. Also, there is a BUSINESS OWNER Please send resume to: [email protected] small group of vendors that Nassau, currently pay BAIC $50 a September, 2011. PAGE 6, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE LOCAL NEWS

BAHAMAS AND COURT NEWS CHINA TO SIGN TECHNICAL MAN ACCUSED OF RAPING NINE-YEAR-OLD COOPERATION AGREEMENT GIRL GIVES TESTIMONY IN SUPREME COURT THE governments of the By DENISE MAYCOCK ing in another car, he said. Bahamas and China are set to Tribune Freeport Reporter The prosecution asked sign an Economic Technical [email protected] Whylly if he had a conversa- Cooperation Agreement dur- tion with his wife. ing the visit of Wang Qishan, FREEPORT – Albert “I didn’t speak with my vice-premier of the State Alexander Whylly, the cler- wife, I went inside to use the Council of the People’s gyman accused of having sex bathroom,” he replied. Republic of China this Satur- with a nine-year-old girl, gave Whylly testified that he left day. sworn testimony before a the victim in the van alone Mr Wang arrives around Supreme Court jury yester- and in the dark. He said they 3pm with a delegation of about day after the prosecution returned to the party around VANDYKE HEPBURN/ Photo 30 Chinese officials at the Lyn- closed its case. 7pm. den Pindling International Whylly, 59, denied having The prosecution asked if it Airport, where Government sex with the victim, who was had crossed Whylly’s mind officials will greet them in the a fourth grade student on VIP Lounge. to send the alleged victim February 6, 2011, when the with his wife, who was also Deputy Prime Minister and incident is alleged to have Minister of Foreign Affairs going to the party. Brent Symonette will sign the happened. “No, it never crossed my agreement on behalf of The According to earlier evi- mind,” he said. Bahamas and Mr Wang on dence, the mother of the vic- According to earlier testi- behalf of China. tim dropped her daughter at mony by the alleged victim, The signing ceremony will the Whylly home around she was told to stay in the van take place at the Atlantis on 6.30pm on the day in ques- while Whylly went inside. Paradise Island. tion. After his wife left, she said, Following, Prime Minister The mother asked Whyl- Whylly told her to come Hubert Ingraham will host a ly’s wife to watch the girl for inside the house. dinner in honour of the vice- about three hours while she It is alleged that Whylly premier and his delegation in was at a Super Bowl party. had sex with the girl on a the Grand Ballroom of The mother testified that blanket on the floor in the Atlantis. she had known Whylly for 18 front room of the home. The agreement provides for years. She took her daughter The alleged victim said grant funding for projects to the home about once or Whylly told her not to tell mutually agreed upon to be twice a week, she said. anyone, and instructed her to undertaken in The Bahamas Whylly, a pastor and fruit say he was in the bathroom if amongst other things. vendor, told the court he was The Bahamas and the Peo- anyone asked what he had at home when the alleged vic- been doing. ALBERT WHYLLY, pictured above, is accused of having sex with a nine-year-old girl. ple’s Republic of China estab- tim arrived. lished diplomatic relations in The alleged victim wrote May 1997. Both countries have He took her, with some her mother a note the fol- al Crimes Unit, the lead Jobson Avenue, where they was co-operative and agreed entered into a number of other children who were at lowing day (February 7) investigator, told the court arrested Albert Whylly. to go to the hospital to give a arrangements from technical the house, to a nearby party telling of what had happened, she went to the Rand Memo- Sgt Lowe said she instruct- blood sample. cooperation and assistance to at his sister’s house in the according to testimony. rial Hospital around 7.28pm ed scenes of crime officers to “Did you check for evi- education through scholarship church van, he said. The mother said after read- on February 7, where she saw take photographs of the dence inside the Whylly resi- programmes. After getting them some ing the note, she contacted the mother and daughter and home. dence?” Mr Shurland asked. Mr Wang leaves the country food, he decided to take the the police and put her daugh- filled out a police hospital She said Albert Whylly “No,” she replied. on Sunday to attend the 3rd children home, he said. ter’s clothing and underwear form. was interviewed by police, “Did you find a sheet or Caribbean-China Economic After dropping the chil- in a bag which she gave to Sgt Lowe said she collected but refused to give a state- blanket?” he asked. and Trade Forum scheduled dren, he said he went home investigators. a sexual assault evidence kit ment. “No,” she replied. for September 12-13 in Port to pick up his wife while the The note, which was signed from the doctor and pro- During cross-examination, According to earlier testi- of Spain, Trinidad. Represen- alleged victim stayed in the by the alleged victim, was ceeded to CDU. Carlson Shurland asked Sgt mony, no DNA evidence was tatives from The Bahamas van. entered as evidence by the Some time around 10pm, Lowe if his client had been found on the victim’s cloth- government and the business When he got home, his prosecution. Sgt Lowe and Sgt Michael co-operative. ing. community are also expected wife and daughter were leav- Sgt Terryjo Lowe of Sexu- to attend that conference. Merinard went to a home on The officer said Whylly The trial resumes today. Volunteers RESIDENT PROMOTION continue cleanup effort in A SMALL group of individuals from Eleuthera gathered in Governor’s Harbour to help with the clean-up effort. Eleuthera

TEN days after Hurricane Irene tore through Eleuthera there is still much to clean up in the northern part of the island. Communities like Gover- nor’s Harbour, Hatchet Bay, Gregory Town and James Cistern still face mountains of seaweed, sand and other debris left by the storm. On Sunday a small group of individuals from the Rotaract Club of Eleuthera, Rotary Club of Eleuthera, August 20th - November 20th South Eleuthera Emergency Partners (SEEP) and the Cape Eleuthera Island School gathered in Gover- nor’s Harbour to help with the clean-up effort. $ Adults $ Kids Following a meeting with 79 49 local government officials, the volunteers set out for James Cistern where they helped remove mounds of seaweed from the primary Includes: school yard and from the homes of residents. Organi- Complimentary Parking included with Package Purchase sations like Rotary, SEEP and the Island School have Located at the Atlantis Self Park Facility worked together in the past to help the community, but at the rear of the Craft Center never before in response to a natural disaster. By coming Complimentary Lunch Voucher together to assist others the organisations said they are Redeemable at express outlets only showing their commitment to the communities of Access to all Atlantis Pools, Slides and Rides Eleuthera. “We brought a dump truck, some tools, and a few Aquaventure passes and lunch vouchers are available good men and women to help out with the effort,” said at the Discover Atlantis Desk in the Coral Towers. Josh Shultz who works at the Proof of residency required for discounted rate. Cape Eleuthera Institute. “Hopefully we’ve made a No reservations required, based on availability. difference by helping to For general inquiries call 363-6950. remove some of this debris, and more importantly we want to send a message that we care about the communi- ty in which we live—we’re not just living in a bubble up at The Cape.”

THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 7 LOCAL NEWS OPINION The partnerships we need By US PRESIDENT weeks after 9/11, we acted izens have persevered, from continue the hard work of BARACK OBAMA as an international commu- the Middle East to Europe, pursuing peace, promoting nity. As part of a broad from Africa to Asia. the development that lifts coalition, we drove al Qaeda Working together, we people from poverty, and N the 10th from its training camps in have disrupted al Qaeda advancing the food securi- Oanniversary of the Afghanistan, toppled the plots, eliminated Osama bin ty, health and good gover- terrorist attacks of Septem- Taliban, and gave the Laden and much of his lead- nance that unleashes the ber 11, 2001, we remember Afghan people a chance to ership, and put al Qaeda on potential of citizens and that 9/11 was not only an live free from terror. How- the path to defeat. societies. attack on the United States, ever, the years that followed Meanwhile, people across At the same time, we have it was an attack on the world were difficult and the spirit the Middle East and North recommitted ourselves to and on the humanity and of global partnership we felt Africa are showing that the living our values at home. hopes that we share. after 9/11 frayed. surest path to justice and As a nation of immigrants, We remember that among As president, I’ve worked dignity is the moral force of the United States welcomes the nearly 3,000 innocent to renew the global co-oper- non-violence, not mindless people from every country people lost that day were ation we need to meet the terrorism and violence. It is and culture. These newest hundreds of citizens from full breadth of global chal- clear that violent extremists Americans — like all the more than 90 nations. They lenges that we face. Through are being left behind and innocent victims we lost 10 were men and women, a new era of engagement, that the future belongs to years ago — remind us that young and old, of many we’ve forged partnerships those who want to build, not despite any differences of races and faiths. On this with nations and peoples destroy. race or ethnicity, back- solemn anniversary we join based on mutual interest To nations and people ground or belief, we are all with their families and and mutual respect. seeking a future of peace bound together by the com- nations in honouring their As an international com- and prosperity — you have a mon hope that we can make memory. munity, we have shown that partner in the United the world a better place for We remember with grati- terrorists are no match for States. For even as we con- this and future generations. tude how 10 years ago the the strength and resilience front economic challenges That must be the legacy of world came together as one. of our citizens. I’ve made it at home, the United States those we have lost. Around the globe, entire clear that the United States will continue to play a Those who attacked us on cities came to a standstill for is not and never will be at unique leadership role in the 9/11 wanted to drive a moments of silence. People war with Islam. Rather, with world. As we remove the wedge between the United offered their prayers in allies and partners we are rest of our troops from Iraq States and the world. They churches, mosques, syna- united against al Qaeda, and transfer responsibility failed. On this 10th anniver- gogues and other places of which has attacked dozens in Afghanistan, we will sup- sary, we are united with our worship. And those of us in of countries and killed tens port Iraqis and Afghans in friends and partners in the United States will never of thousands of innocent their efforts to deliver secu- remembering all those we forget how people in every men, women and children rity and opportunity for have lost in this struggle. In corner of the world stood — the vast majority of them their people. In the Arab their memory, we reaffirm with us in solidarity in can- Muslims. This week, we world and beyond, we will the spirit of partnership and dlelight vigils and among the remember all the victims of stand up for the dignity and mutual respect that we need seas of flowers placed at our al Qaeda and the courage universal rights of all human to realise a world where all embassies. and resilience with which beings. people live in dignity, free- We remember that in the their families and fellow cit- Around the world, we will dom and peace. More can be done in terms of economic and trade co-operation between China and the Bahamas

By HU SHAN up branches in the Bahamas. Chinese Ambassador “The economic and trade co-oper- In the tourism sector, the Bahamas is one of the countries ation between our two countries that got approved destination sta- ITH a view to deep- heralds a bright future, featuring tus for Chinese tourists. With the Wening mutually bene- smooth construction and opera- ficial economic and trade co-oper- high starting points, fast growth tion of the Baha Mar project, cou- ation and achieving common pled with relevant facilitation development of China and the and great potential – thus there's measures in place from the Caribbean region, the govern- Bahamian side, more and more ment of the People's Republic of more to be done.” Chinese tourists will target the China and the government of Bahamas as their touring desti- Trinidad and Tobago will co-host nation. the 3rd China-Caribbean Eco- eral Administration of Customs, ans including government offi- In the area of renewable ener- nomic and Trade Co-operation the bilateral trade volumes cials, business managers and tech- gy, the Bahamas has promulgated Forum (CCETCF) in Port of between China and the Bahamas nical personnel were sponsored some policies to boost the use of Spain, Trinidad and Tobago from in the four successive years of by the Chinese government to renewable energy resources. Its September 12 to 13, 2011. 2007, 2008, 2009 and 2010 were participate in 40 training courses market demand for renewable Vice Premier Wang Qishan of $180 million, $385 million, $423 and seminars of various kinds. energy is gradually growing. Chi- the State Council of China will million and $628 million respec- From 2008 to 2011, 22 Bahami- na takes the lead in utilising solar participate in the forum on behalf tively, up by 9.8 per cent, 113 per an young students were granted and wind power in the world, and of the Chinese government. I cent, 9.5 per cent and 48.5 per full Chinese government scholar- the Chinese skills in this area well want to express my wish that the cent year on year. And the 2010 ships, majoring in a variety of spe- suit the needs of the Bahamas. forum is very fruitful and a great figure was 3.47 times of that in cialties such as traditional medi- As for agriculture and fisheries, success. 2006. cine, international trade, telecom- the Bahamas is not yet able to The Bahamas is one of the Second, substantial progress munication and computer tech- realise self-sufficiency in grain member states of the forum. The has been made in investment. The nology. HU SHAN currently. Chinese government attaches Thomas A Robinson National In 2011, the Chinese govern- Chinese Ambassador However, there's some quite great importance to developing Stadium, built on a Chinese grant, ment provided another three good arable land lying idle on practical co-operative relations was handed over to the Bahamian Bahamian officers with a one- national investment and trade some of its islands. with the Bahamas. government on June 22, 2011. year postgraduate training oppor- fairs held in China. Chinese enterprises can come In order to express the friend- The Chinese government also tunity in China. Meanwhile, the number of the over to develop livestock and ship of the Chinese government honored its commitment to pro- Apart from the above, the Con- Chinese visiting the Bahamas has poultry as well as vegetable and people to the Bahamian gov- viding a RMB 400 million (about fucius Classroom was approved also increased very fast. There farms. They can also explore the ernment and people and to assist $58 million) concessional loan for by the governments of China and are two major reasons for that: possibility of developing aquatic the Bahamian government in its the Nassau Airport Gateway pro- the Bahamas to be established in The substantial progress of Chi- products on these islands. rescue and reconstruction work ject. the College of the Bahamas and nese-invested projects in the With regard to medical co- in the wake of Hurricane Irene, The construction of the Gate- was formally unveiled in Novem- Bahamas attracted more business operation, China is famous for its Vice Premier Wang Qishan will way started in June 2011 and is ber 2009. visitors from China; and the traditional medicine, in particular bring $300,000 grant in cash on expected to be completed in 2013. A teacher from China started exchange of high-level visits its treatment by acupuncture and behalf of the Chinese government Moreover, the EximBank of to teach the Chinese language in between the two countries gave medicinal herbs. to the Bahamian government and China offered a commercial loan the classroom in early 2011. rise to deeper people-to-people The traditional Chinese medi- will witness the signing of an eco- of $2.45 billion to the Baha Mar Fifth, tourism co-operation has understanding and more Chinese cine is effective to many diseases, nomic and technical co-operation project, a large-scale holiday expanded gradually, with more citizens visiting the Bahamas. such as functional diseases, chron- agreement between the two coun- resort, and the China State Con- and more Chinese tourists tar- The economic and trade co- icle diseases, mental diseases, tries during his visit to the struction Engineering Corpora- geting the Bahamas. operation between our two coun- gynaecological diseases, initial Bahamas prior to his travel to tion also invested $150 million in In December 2008 and March tries heralds a bright future, fea- recovery of serious illnesses, dis- Trinidad and Tobago. it. The project started on Febru- 2009, the Chinese Tourist Agen- turing high starting points, fast eases with causes that are hard As Chinese Ambassador to the ary 21, 2011 and is scheduled to cies Association invited its mem- growth and great potential – thus to diagnose and difficult and com- Bahamas, I'd like to take the be completed by the end of 2014. ber agencies to make an on-the- there's more to be done. plicated diseases. opportunity of the convening of The resort is expected to open spot investigation of the Bahami- For a long period of time from There are many such diseases the forum to review what has for business in the first half of an tourist market. now on, the bilateral investment in the Bahamas and a variety of been done in terms of China- 2015. The Ministry of Tourism and will focus on areas such as infra- wild herbs here that can be used Bahamas economic and trade co- Third, the first step of agricul- Aviation of the Bahamas and the structure, finance, tourism, as medicine. operation in recent years, and tural co-operation has already Royal Caribbean Cruise Ltd have renewable energy resources, agri- Treatment with traditional Chi- look ahead to the prospects of been taken. An MOU on agricul- established offices in China in an culture and fisheries, and such co- nese medicine is less costly but future co-operation. tural co-operation was signed by effort to develop new tourism operation will surely result in very effective. So we are taking By doing so, I wish to support the two governments in Febru- products. mutual benefit and a win-win sce- the initiative in setting up a tra- the raising of China-Bahamas ary 2009. During the Chinese New Year nario. ditional Chinese medicine economic and trade co-operation Experts, engineers and market holidays in 2011, the first ever In terms of infrastructure, the research and treatment centre in to a new high. researchers from the Chinese group of Chinese tourists choos- Bahamas has great demands for the Bahamas, where doctors from In accordance with the Joint Academy of Agriculture Sciences ing the Bahamas as their desti- the construction of roads, air- both sides can work together to Statement issued by the two gov- and some Chinese enterprises nation made an eight-day tour of ports, docks and small bridges serve the Bahamian people in ernments of China and the have paid an on-the-spot inspec- New Providence and some Fami- while the Chinese enterprises need of treatment. Bahamas and the Xianmen Dec- tion in the Bahamas. ly Islands. have the advantage in this field. In conclusion, China and the laration reached among enter- Some enterprises expect to Sixth, personnel exchange has In terms of finance, the Bahamas have achieved great prises from the two countries dur- develop agriculture here. Some been expanding. Since 2007. The Bahamas is a major financial cen- progress in the bilateral econom- ing the second CCETCF in Sep- have even submitted investment number of the Bahamians visit- tre in the Caribbean region. Over ic and trade co-operation, and tember 2007, both sides have put co-operation plans to the ing China has been on the rise 270 international banks and there's still more for us to do. relevant measures into effect con- Bahamian government. steadily. financial institutions have regis- Given that it is in line with the scientiously, thus yielding posi- Forth, human resources train- More and more people from tered and operated their business fundamental interests of both tive results. ing programmes were well Bahamian business circles partic- here. countries and peoples to strength- First, bilateral trade volume has received by the participants. ipated in the Guangzhou (Can- The Bahamian side wishes to en our economic and trade co- been growing fast. According to From 2007 to 2010, 90 Bahami- ton) Trade Fair and other inter- see Chinese commercial banks set operation, we will continue to the statistics of the Chinese Gen- make our efforts in this regard.

PAGE 8, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE LOCAL NEWS

FORMER CANDIDATE FORhis time PLP and NOMINATIONhis resources in respected SHOT ANDMr KILLEDPercentie FROM page one building up the area and it is “tremendously.” DEPUTY PM was the only person in the car to really a very sad, sad day and I “Neil and I may not have have been struck. His death just want to send my condo- seen eye to eye on everything, brings the murder count to 93 lences out to his family, partic- but I respected him tremen- for the year. ularly his mother who was dis- dously for his acts of kindness in ACCUSES TALK While there were varying traught last night and the whole the area and what he did per- reports on exactly how many community of Union Village. sonally to build up that com- bullets were fired and the actu- “We as political leaders real- munity and the fact is his heart SHOW HOST OF al motive for the shooting, ly needed to work together and and his love was in the Union police believe Mr Percentie come up with some compre- Village area. It showed with the could have been a victim of a hensive plans because there is people he touched. So at the “random shooting.” far too much of this, and it is end of the day that is the com- PERSONAL Describing Mr Percentie’s unacceptable,” he said. munity that I feel very close to murder as a “senseless killing,” Although Mr Fitzgerald and and I feel the loss. I mean he PLP Senator Jerome Fitzgerald Mr Percentie had been at odds was one of the great communi- said Union Village, Peardale, in the political arena, with the ty leaders in there and I can tell VENDETTA and the Bahamas as a whole has latter having actually challenged you I am moved by the whole lost a great community leader. him for the party’s nomination, thing. “Neil has sacrificed a lot of Mr Fitzgerald said he still “It is rough,” he said. FROM page one “If Mr McKinney wants to make accusa- tions about me, he should talk to me and not He also said his interest in Bahamas Hot make remarks in a public forum. Yes, I hap- Mix, the company awarded the contract to pen to be a shareholder but I am a share- WELL-KNOWN SAILING CLUB MEMBER IN HOTEL FALL TRAGEDY pave the roads, has been public knowledge holder in many companies. So because I FROM page one for years. have personal wealth does that mean I can- "It is ludicrous to think that I am bene- not be a Member of Parliament? Why is he by emergency medical services to Rio Piedras fiting from delays in the road works. Steve attacking me? There were ministers under Medical Centre, where he died a short time lat- McKinney’s history speaks for itself. I do the PLP government who got contracts that er. not own any share in that company. The could be called ‘special interest’ but no one Mr Donald was a long-standing member of shares are owned by my children's trust, but made a big deal about that.” the Royal Nassau Sailing Club and will be that is public knowledge. I have investments This is not the first time that Mr Symon- “sorely missed” in the sailing community. in many companies in this country. Does ette has come under fire for his relationship Robert Dunkley, the sailing club’s com- that mean that I should not enter politics? I with Bahamas hot Mix. modore, said: “Our condolences to the family, don't think so,” Mr Symonette said. In 2008, the PLP said they were con- we will certainly be missing Jack. We will real- “Bahamas Hot Mix got the contract, not cerned about the alleged awarding of con- ly miss his friendly attitude. He was a jovial and tracts worth millions of dollars to “a com- fun loving person, everybody loved to be because of me,” he said, “but because they around him.” are recognized and well known road builders pany Mr Symonette has interest in.” THE RADISSON Ambassador Plaza Hotel & Casi- Mr Donald was recognized for his unwa- no, in San Juan. in the Bahamas. They are qualified to get the The official opposition then called for a vering commitment to the club as a sailor and job. If there is a bidding process should they clearly defined conflict of interest policy, to event organizer. Mr Dunkley explained that The veteran sailor was one of four children not bid? avoid allegations of officials collecting pay- Jack had also spent his childhood years at the of David and Fran Donald, along with his sis- “Tell Mr McKinney to wake up, I am a ment from government agencies while in club with his parents, who were also mem- ters Laurie Dalton, Nancy Goldstein and Bahamian and I am entitled to jobs in the office and outlined the government’s sys- bers. brother Mike Donald. Bahamas just like everyone else." tem of awarding contracts. “The entire family is entrenched in the The Greenwood Road resident, is survived Mr Symonette said he does not under- When contacted, Steve McKinney said, “I club,” he added. “The club was his second by his wife Dr Susan Nutt Donald, a chiro- stand why Mr McKinney would make com- stand by my comments.” home, especially during his childhood. We all practor and Tribune columnist, and their two ments regarding him. Mr Symonette implied Mr McKinney’s comments were made have very fond memories of him as a young- children, Johnny and Katie. that it could be because he is white. on his talk show, “Hard Copy” on Love 97. ster, he was always there with us and all of Funeral services will be announced at a lat- his friends participating in all the events.” er date.

INTERNATIONAL NEWS

WASHINGTONOFFICIALS CHASE UNCONFIRMED AL-QAIDA al-QaidaBOMB had PLOTconsidered Associated Press attacking the U.S. on the anniversary and other impor- U.S. OFFICIALS said tant dates. Thursday they were investi- The threat came in a single gating a credible but uncon- piece of information and was firmed threat that al-Qaida so specific — and came at was planning to use a car such a time of already bomb to target bridges or heightened alert — that it tunnels in New York City or could not be ignored. The Washington to coincide with officials described the threat the 10th anniversary of the to The Associated Press on Sept. 11 attacks, the first tip condition of anonymity to of an "active plot" around discuss sensitive security that date. matters. The Homeland Security New York City Mayor Department said the threat is Michael Bloomberg told credible and specific, but reporters that police there unconfirmed. The nation's were deploying additional terror alert level has not resources around the city, changed, but raising it was but that New Yorkers should under consideration Thurs- go about their business as day night. usual. The city's observance Law enforcement officials JANICE FEDARCYK, assistant director of the FBI's New York office, of the attacks will go on as were investigating three peo- and Mayor Michael Bloomberg hold a news conference, Thursday, planned, Bloomberg said. ple who recently entered the in New York. (AP) The FBI and Homeland U.S. The threat was received Security Department issued by the U.S. intelligence com- a joint intelligence bulletin munity late Wednesday Thursday night to law night, officials said. always do before important try in the weeks leading up enforcement around the "There is specific, credible dates like the anniversary of to the 10th anniversary. Law country urging them to main- but unconfirmed threat 9/11, we will undoubtedly get enforcement officials have tain enhanced security and information," said Janice more reporting in the coming been wary, particularly after be on the lookout for suspi- Fedarcyk, the assistant direc- days." information gleaned from cious activity. tor in charge of the FBI's Security has been Osama bin Laden's com- Some District of Colum- New York division. "As we enhanced around the coun- pound in May indicated that bia police officers received an internal memo from department management on Thursday saying that the city had received "credible threats" and that additional staffing would be required, according to a law enforce- ment source who had seen the memo. Police in both cities were increasing their already beefed-up staffing levels in light of the recent intelligence. President Barack Obama was briefed on the threat information Thursday morn- ing and directed the coun- terterrorism community to redouble its efforts in response to the information, a White House official said. White House officials said there were no plans to change Obama's travel schedule on Sunday in light of the threat. The president is scheduled to mark the 9/11 anniversary with stops at New York's ground zero, the Pentagon and Shanksville, Pa. He will also deliver remarks Sunday night at a memorial concert at the Kennedy Center in Wash- ington. Law enforcement officials are checking out all of the details included in the threat, said Rep. Peter King, R-N.Y. "No need to panic," King said. "They have not been able to confirm it yet." Thursday morning, Home- land Security Secretary Janet Napolitano told reporters that there was "a lot of chat- ter" around the anniversary of the attacks but that there was no information about a specific threat.

THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 9 LOCAL NEWS

POLICE OFFICERS remove the car which belonged to Amanda Sey- mour Burrows from the Cricket Club yesterday. Tim Clarke/Tribune staff CAR FOUND IN DEATHS CASE FROM page one tion. “We are concerned about Assistant Supt Ken Stra- the circumstances surround- chan said that so far there is ing this unfortunate situation no concrete suggestion of and continue to solicit the foul play and no suspects are public’s help,” said Mr Stra- in custody. chan. The car was found intact, Anyone with information Supt Strachan confirmed, about the incident is asked adding that it is too early to to contact CDU on 502-9991 determine what its discovery or Emergency Services on could mean to the investiga- 919.

AMANDA SEYMOUR Burrows, 32, and her five-year-old daughter Kaysha Burrows were pulled from the waters behind Elizabeth on Bay Plaza Tuesday morning. PAGE 12, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE LOCAL NEWS

RM BAILEY SENIOR HIGH SCHOOL was closed yesterday for the demolition of the school gym, which was gutted in a fire in 2003. The school also be closed today, but will reopen on Monday, September 12. Felipé Major/Tribune staff

THE TRIBUNE • SECTION B • [email protected] FRIDAY, SEPTEMBER 9, 2011 BROKER/DEALER CREDIT SUISSE ‘DROPS’ DENIES CANADIAN ‘MISCONDUCT’ RAP By NEIL HARTNELL son & Co attorney and part- * Regulator claims Sandyport-company T$4.9BNribune Business Editor SeekingGINN Supreme CourtFORECLOSEner who has been working on the foreclosure on the syndi- providing account for convicted A CREDIT SUISSE-LED approval for action, as lending cate’s behalf, did not return securities offender lending syndicate has filed Tribune Business calls seek- papers with the Supreme syndicate ‘takes new track’ ing comment. * Freezes $2.2m, but Bahamian firm Court to drop its attempted Apart from Mr Adams, fel- says it has no clients referred to foreclosure bid on 1,476 acres before Justice Neville Adder- “A notice of discontinuance low Graham, Thompson & at the $4.9 billion Ginn sur ley over the Notice of Dis- of foreclosure has been filed,” Co partners Dana Wells and By NEIL HARTNELL securities offenders. mer project, Tribune Business continuance that was filed a source with knowledge of Judith Whitehead are also Tribune Business Warren Davis, president can reveal, with attorneys for with the Supreme Court on developments confirmed. working on the matter. Sev- Editor of Sandyport-based both sides set to present argu- September 1. “They’re [Credit Suisse] trying eral sources suggested to Tri- Gibraltar Global Securi- Tribune Business has a copy a different track.” ments in favour of this on Sep- bune Business, though, that A BAHAMAS-BASED ties, told Tribune Business tember 21, 2011. of that notice, which states It is unclear what that track Credit Suisse wanted to drop that both sets of attorneys is, or why it has been taken, broker/dealer yesterday that the company had Attorneys from Graham, the foreclosure route because vehemently denied mis- “committed no wrongdo- Thompson & Co, represent- “consent that this [foreclo- given that Lubert Adler (in it was too time consuming and ing the Credit Suisse syndi- sure] action be wholly discon- the person of Ginn-LA West expensive, especially as sev- conduct allegations being ing” under either Bahami- cate, and from Dupuch & tinued, with each side bearing End) and its attorneys were eral ‘interveners’ had emerged levelled against it by Cana- an or Canadian law, and Turnquest, representing Ginn- their own costs”. That discon- fully co-operating with the to challenge the Certificate of dian regulators, who have that it did not hold LA West End (really Lubert tinuance now has to be Credit Suisse syndicate in its Title granted to Ginn for the frozen $2.2 million in its accounts for the clients Adler, Ginn’s financing part- approved by the Supreme foreclosure bid. Robert correspondent accounts ner), appeared yesterday Court. Adams, a Graham, Thomp- and are claiming it pro- SEE page 3B SEE page 2B vides facilities to convicted RESORT DROPS FINCO ‘TOO CAUTIOUS’

ASKING PRICE * ChangeOVER from 30% toPROVISIONING 7.5% ratio brings lender in line with industry BRIAN MOREE * Still grappling with $104m in non-accrual loans DOWN TO $39M * But expecting to beat last year’s $18m profit FINANCIAL * Club Land’or sales price falls * Has to ‘think twice’ about credit policy exception $6m from original $45m By NEIL HARTNELL She added that while the mortgage lender REGULATOR Tribune Business Editor had not met budgetary projections for the nine months to end-July 2011, it was expected * Realtor ‘confident’ it will sell, FINANCE CORPORATION of the to finish the financial year in the black and LEADERSHIP Bahamas’ (FINCO) $5.4 million provisioning “ahead” of 2010’s $18.188 million profit per- and says PI property receiving write-back boost resulted because it was “too formance. conservative when compared to the industry But, as indication of how risk averse com- ‘CRITICAL’ ‘serious interest’ average”, its managing director confirming it mercial banks have become in the current is grappling with $104 million worth of non- economic climate of high unemployment, Ms * Top attorney says performing loans. McCartney told Tribune Business that FINCO failing to get right By NEIL HARTNELL The resort’s sale is tak- Tanya McCartney told Tribune Business now “had to think twice” about granting Tribune Business ing place amid a back- that the change in FINCO’s general provi- potential borrowers “exceptions” to its lending man to head consoli- Editor ground of signs that Club sioning, which now allows for credit losses of criteria. dated supervisor Land’or is facing financial 7.5 per cent on all impaired loans, compared to The alteration in FINCO’s general provision could derail whole THE Paradise Island- challenges, and that the the previous 30 per cent proportion, had also for loan losses enabled it to enjoy a net $4.118 based Club Land’or resort existing owners are reluc- brought the mortgage lender in line with the reform project has dropped its asking tant to continue funding ratios used by its Royal Bank of Canada par- SEE page 2B * Urges Gov’t to pay price from $45 million to its operations. ent. $39 million in a bid to fur- ‘market salary’ to ther stimulate buyer inter- attract high quality est, the realtor marketing the property yesterday By NEIL HARTNELL telling Tribune Business it Tribune Business was receiving “serious LIFE INSURANCE / are you covered? Editor interest”. In a brief interview with THE GOVERNMENT this newspaper, John must select the right leader Christie, of the HG for the resulting consoli- Christie real estate firm, dated supervisory body, a said that while there were leading attorney has urged, “a couple [of proposals] otherwise all the benefits on the table”, no sales from financial services reg- agreement with any poten- ulatory reform will be tial buyer had been signed A, B, C! derailed. - meaning no deal was Brian Moree QC, senior close to being completed. The insurance plan I’m looking for. partner at McKinney, Ban- “There’s a lot of inter- An agent who understands my goals. croft & Hughes, told Tri- est, but it’s not sold,” Mr bune Business it was vital Christie confirmed. The insurance company I can depend on. that the Government be prepared to pay a salary “There’s a solid amount of Choosing Family Guardian for my life insurance that would attract a top- interest, but it’s still on the is as elementary as A, B, C. notch regulator, with a market. There are people proven track record, to act very seriously looking at as chief executive of any it. I think it’ll get sold.” merged financial services Asked when, Mr supervisory body. Christie replied: “This And, while acknowledg- year, I hope. It’s still there, fully operational and SEE page 4B remains so. The owners are fully committed to keeping operations con- tinuing until such time that there’s a deal.” Club Land’or sits at the heart of Paradise Island and the Atlantis marina, being among the first properties visitors Bahamians and tourists $5.3268 see when they come off $4. the bridge. $ It operates as a hotel and holiday vacation/time- $5.18 share club, with 72 one 51 bedroom, one bath suites ial Strength R Financ ating available to guests. Among A $4. M BEST the attractions being pro- A- Excellent moted to investors are the $5.3869 Government approvals $4. received by the existing CONTACT A SALES REPRESENTATIVES AT AN OFFICE NEAREST YOU owners to construct a 10- East Bay Street, Marathon Road, Thompson Boulevard, & Blue Hill Road (top hill) The information contained is from a third storey building on the +242 396-1300 I www.familyguardian.com party and The Tribune can not be held A member of the FamGuard Group of Companies responsible for errors and/or omission Club Land’or site. from the daily report.

PAGE 2B, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE BUSINESS

STRUCTUREBy SIMON COOPER ANDthem, PLAN or simply to re-brand? FORreplenish worn-out ECONOMIC skin and look at refinancing in terms STORMastute businesspeople who Res Socius bones. The secret to surviv- of a single, cost-effective line will survive the crisis. I for * How attractive is your ing in an over-traded mar- of gearing. one am making sure that I ANY HOMEOWNER packaging, and how does it ket is to get referrals from will be around when the will tell you that the way to compare with that of your existing networks, and to * Take time out to smell markets finally turn. I hope survive a tropical storm competition? I’m not just rewards these contacts, too. the daisies. We should all be to greet you on the other includes having a well-built talking about the plastic bags You pay the press for adver- in business because it sup- side. home, and having enough in which you supply your tising. Why not also spend a ports our personal lives. boards to close up all the products either. Think about little money on your friends? Build a gap day into every windows. Operating a busi- the shop front of your busi- And don’t overlook the pos- week for doing exactly what NB: Res Socius was ness while being faced with ness, and the attitude of your sibilities of the free social you want to do, except pop- founded by Simon Cooper the possibility of a double people, too. However, price network-marketing tools ping into your business. I’m in 2009, and is a business economic dip has remark- is still the ultimate packaging available to you today. talking fishing, taking time brokerage authorised by able similarities. Your firm tool (if you’ll excuse me mix- out with the children, paint- the Bahamas Investment needs to be structured cor- ing marketing metaphors). * Money matters in busi- ing pictures, dusting off your Authority. He has exten- rectly, and you need to have It’s no longer good enough ness, and money-matters motorbike - in fact, absolute- sive private and public emergency plans in place. So with what you have. A single to say that we may be a little require constant attention ly anything else you fancy. SME experience, and was here are the steps you need line of products can become more expensive but… It’s from every business owner, And don’t get stuck into formerly chief executive of to think about, and perhaps a recipe for disaster a short time to get real on that score. too. Could you seduce a bet- another rut in the process. a publicly-traded invest- implement, while you have way down the line. So regu- ter deal from your suppli- ment company. He was the opportunity. larly check out your range * No client sticks around ers? You never know unless Think about all these awarded an MBA with dis- of offerings and subject them forever, and we need to be you try. Inventory is another things carefully, please. tinction by Liverpool Uni- * Continually seek out or to critical scrutiny. Do your continuously replenishing logical place to start. If you Whether we have a double versity in 2005. Contact create new opportunities, our customer base in the have several lumps of busi- dip or an extended recession him on 636-8831 or write to customers still need your [email protected] and never, ever, be content goods? Is it time to upgrade same way that our bodies ness credit, take another in the Bahamas, it is the

FROM page one "It is not possible for the defen- dant to now remedy the events of land in question. default. Despite this, the defendant Essentially, the issue is procedural, has failed to make payment of all in the sense that all is required is to sums outstanding." vest title to the 1,476 acres in ques- Outlining the grounds for Credit tion in the Credit Suisse-lending syn- Suisse's claim that Ginn, headed by CREDIT SUISSE ‘DROPS’ Edward Robert 'Bobby' Ginn III, dicate. This could be done via power of sale, or Lubert Adler and its attor- had defaulted on its agreement, Mr neys conveying the title to them, but Dameris alleged that the West End the emergence of the ‘interveners’ developer had failed to make any or ‘adverse claimants’ to the land at principal or interest payments since June 2008. West End is likely to lengthen, if not in the said tract of land containing gage that transferred the real estate $4.9BN GINN FORECLOSEsyndicate some $61.351 million in And he further claimed that Ginn complicate, matters - at least as far as 960 acres more or less owned in fee to the Credit Suisse syndicate on unpaid principal and $16.546 million had breacshed its commitment to pay the lending syndicate is concerned. simple by the applicant/intervener, May 10, 2011, be declared “void” in interest for a grand total of $77.896 all taxes, assessments and govern- Among the adverse claimants is and is a mala fide purchaser,” Mr under the Fraudulent Conveyances million. ment charges relating to the project, Ricardo Pratt, on behalf of the estate Cooper alleged. Act. The loan was supposed to be adding: "In breach of this provision of Ruel Pratt. Another is Anthony “Ginn-LA West End and/or its In their original bid, Credit Suisse repaid in 24 quarterly instalments, of the Intercompany Credit Agree- Cooper, as executor of the estate of purported assigns, successors in title and its lending syndicate members beginning on September 30, 2006, ment, [Ginn-LA West End] has not Julia Ash. They are all alleging they or interest have no estate or interest had demanded that, if Ginn failed and continuing until maturity on paid its real property taxes on the are descendants of the original in the said tract of land containing to make good all sums owing under June 8, 2012. "As of March 31, 2011, Ginn project at all for the current Crown Land grantee. 960 acres, more or less owned in fee their $276.75 million loan facility, 16 periodic payments in arrears," Mr year...... " In a July 21, 2011, filing with the simple by the applicant/intervener.” they should be permitted to fore- Dameris alleged of Ginn sur mer's "As a result of the events of Supreme Court, Mr Cooper alleged Seeking the Supreme Court’s leave close on the bulk of its resort devel- financial state of affairs. default which remain unresolved and that in his executor capacity he was to intervene, Mr Cooper also asked opment site in Grand Bahama's "On the 5th day of May, 2011, uncured, and the money secured by the rightful owner of 960 acres at for a stay until the Supreme Court West End. Credit Suisse made demands on the the Bahamian securities which West End, and that this land was determined his challenge to Ginn- Ted Dameris, a director of G-LA defendant [Ginn-LA West End Ltd] remain outstanding and unpaid, the among the acreage Credit Suisse was LA West End’s certificate of title Resorts Holdings (Bahamas), alleged for repayment of the principal bal- plaintiff [the Credit Suisse syndicate] seeking title to. was heard by the Supreme Court. in a May 31, 2011, affidavit, that ance of $61.351 million, together with is empowered to proceed and “G-LA Resorts Holdings And he is also seeking that the unpaid interest on the $276.75 million interest in the amount of $16.429 mil- enforce its rights under the Promis- (Bahamas) [the lending syndicate] conveyance of the land from the loan was accruing at the rate of lion, as secured by the Promissory sory Note and Supplemental Deben- and/or its purported assigns and pre- Grand Bahama Hotel Company to $14,539 per day. Note, the Supplemental Debenture ture, and the Supplemental First decessors in title, successors in title or Ginn-LA West End on April 27, As of that date, the Ginn sur mer and the Supplemental First Legal Legal Mortgage," Mr Dameris interest, have no estate or interest 2006, and the debenture and mort- developers owed the Credit Suisse Mortgage...... alleged. FINCO ‘TOO CAUTIOUS’ DDisneyy OVER PROVISIONINGperformance for the year-to- turing and rewriting existing FROM page one date, Ms McCartney added: loans where the opportunity “We’re not doing badly, but presented itself. And, in look- million net write back during it’s not what we had planned. ing for growth, the mortgage the 2011 third quarter. Com- In terms of positive direction lender was continuing to focus World bined with net interest income and growth, year-over-year it’s on its existing client base and of $8.802 million, this helped good, but in terms of plan it’s the professional market, view- trip for a to boost FINCO’s net interest not where we’d like to be.” ing these as the best bets in a after provisions to $12.92 mil- Still, FINCO was projected risky environment. lion for the three months to to reach its financial year-end “There are opportunities for Family of 4 end-July, more than double “in the black and ahead of last growth, but we’re less inclined Sharmilia Symonette the previous year’s $5.252 mil- year”. That is likely, given that to make an exception to cred- lion - a 246 per cent increase. its net income for the nine it policies,” Ms McCartney And, with both fees and Trip prize includes: Airfare to months to end-July was more said. “Where we’ve made an commission income, and non- than double 2010’s, standing exception in the past, we’d Orlando, hotel accommodation, interest expenses, essentially 253 per cent ahead at $15.533 think twice about it now.” entry fees for Disney World remaining flat year-over-year, million compared to $6.148 As for the continuing non- Winner FINCO’s total comprehensive million. payment of quarterly divi- net income for the 2011 third The third quarter and gen- dends, she added: “The posi- quarter more than tripled - eral provisioning change (write tion remains the same until we growing by 329 per cent to back) were big factors behind see a trend with respect to a Winners! $10.624 million compared to this, with credit loss provisions substantial decline in non-per- $500 cash prize $3.232 million in 2010. for the nine months to end- forming loans, because we Two Explaining the rationale for July standing at $1.692 million don’t want to start and stop the change in general non-per- - an almost $6.5 million drop paying dividends.” forming loan provisioning, Ms on the amount taken in the The emergence of such a McCartney told Tribune Busi- 2010 comparative period. That trend was directly linked to Alistina Kemp ness: “We were too conserva- accounted for the bulk of FIN- the economy’s performance, tive when we looked at the CO’s bottom line improve- and reduction in unemploy- industry average. ment. ment. “We were previously using Despite the uncertain Still, Ms McCartney was the standard of 40 per cent of growth outlook, as forecast by able to point to an increase in non-performing loans, brought the international credit rating net interest income for both it down to 30 per cent, and agencies, Ms McCartney said the third quarter and first nine have now moved it to 7.5 per FINCO was “cautiously opti- months, which had resulted cent.” mistic” and projecting growth, from a combination of loan FINCO’s 2010 year-end its mortgage book having book growth and existing cred- financial statements showed grown 4 per cent year-to-date it returning to the performing the mortgage lender reduced from $817.998 million to category, together with a drop its general provisioning ratio $836.882 million. in deposit rates due to the high from 40 per cent to 30 per cent The mortgage lender, liquidity levels in the com- of non-performing loans at though, was still monitoring mercial banking system. October 31 last year, basing and dealing with its non-accru- The FINCO managing this on the quality of real al loan book, in common with director said the mortgage Maureen estate security it held and other Bahamian commercial lender’s capital base remained recovery rates. The end-July banks. strong, especially with Royal change now reduces that fur- “We’re at about $104 mil- Bank behind it, and its key Turnquest ther to 7.5 per cent. lion in non-performing loans,” ratios were “in the area of 19 Pointing to another ratio- Ms McCartney said, implying per cent”, ahead of the 14 per nale for the change, Ms that these account for about cent and 17 per cent trigger McCartney added that it also 12.4 per cent of its total port- and target ratios, respective- brought FINCO into line with folio’s worth. “We look close- ly, that were set by the Central its 75 per cent majority share- ly at non-performing loans Bank of the Bahamas. holder, Royal Bank of Cana- because that hits the bottom In its search for business da. line. opportunities, Ms McCartney “We wanted to align with “We’ve experienced a slight said FINCO would seek to Royal Bank of Canada’s poli- decline over this fiscal year. leverage relationships with cies, so that what we had with It’s not been major. If it was Royal Bank of Canada and its QUALIFYING PRODUCTS: Huggies Little respect to provisioning is con- Snugglers, Little Movers Diapers Jumbo, Huggies more substantial, we’d day wealth management unit, plus Snug & Dry Diapers Jumbo, Pull Ups Training sistent with RBC Bank,” she there was a trend, but we’re RoyalFidelity. Pants Jumbo, Huggies Good Nights, Huggies Distributed in The Bahamas by explained. “We prefer to be making progress.” Outsourcing of back office Wipes soft pack 64ct or 72ct or any Huggies consistent across the organi- FINCO had directed a lot functions was also on the agen- Wipes refills 128ct, 144ct, 184ct or 216ct. Madeira Street, Palmdale • 677-1441 sation.” of resources towards collec- da in a bid “to benefit from As for FINCO’s financial tions, and specifically restruc- economies of scale”. THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 3B BUSINESS ‘ONE MAN BAND’ MENTALITY HURTS BAHAMAS ARCHITECTS By NATARIO McKENZIE DOWNTOWN ‘IRRELEVANT’ Tribune Business Reporter [email protected]

THE lack of a marketing push and a “one-man band” mentality has prevented Bahamian architects from secur- ing work with major development projects, said architect TOBy NATARIO ORIGINALMcKENZIE and even its citizens CLIENT are today con- have very BASES different boundaries. There Pat Rahming. Tribune Business Reporter fused about its purpose. is a belief that Bay Street, mostly Mr Rahming told Tribune Business: “In any business [email protected] “It is no longer assumed to exist for between the British Colonial Hilton you’re in you have to learn the business environment. the service of its residents but for the and East Street, and the length of You have to understand how that environment functions. DOWNTOWN Nassau has become service of visitors, and the need to sat- Woodes Rodgers Walk, are the only Most of us, me included, are not very good at the mar- a shopping centre for tourists with no isfy the social and cultural needs of the corridors in need of public concern pri- keting side of what we do; we’re concerned about the relevance to the people it was created residents has been rendered secondary marily because of their apparent value creative side. to serve, Bahamian architect Pat Rah- to the hospitality needs of its visitors. to cruise ship tourists. “We’ve been accustomed to getting jobs by favour, and ming said yesterday. Nowhere has this been more obvious “Fifty years ago when there were we believe that is something that will take us anywhere. Mr Rahming, who was the guest than in the conversations about the businesses all over the city, providing The truth of the matter is when we learn to function the speaker at the Rotary Club of West redevelopment of the downtown. different levels of support to the city’s way the rest of the planet functions, by understanding Nassau, told Tribune Business: “I think While there has been considerable residents, it was not uncommon to see the principles of marketing and the basics of landing work, it’s currently irrelevant. I think it will interest in the development of Down- entrepreneurial black Bahamians suc- then we would start to get the more significant jobs.” succeed to the extent that tourist town in the last decade, the long-term ceeding. Fifty years later we have cre- He added: “The biggest disincentive for Bahamians accommodations may improve, but development of the city of Nassau has ated a community of beggars largely getting big projects is everybody wants to be a one-man Downtown is irrelevant to the people it had very little spotlight.” due to the misconception that Over band. Everybody wants to make up all the money them- was created to serve.” Mr Rahming added: “There is little the Hill is outside the city gates begging selves. As a result, you have very few firms that are large Mr Rahming, who has designed the or no apparent interest in the fact that for crumbs.” enough to promote themselves as being able to handle sig- new downtown Straw Market, said yes- the city of Nassau and downtown Nas- Mr Rahming said this has con- nificant work. terday: “Through periods of wealth sau are terms used interchangeably, tributed to the “lack of cultural infra- “Unless you get people who brand themselves as being and poverty, the City has lost its way, despite the fact that the two elements structure in the city of Nassau.” enough to handle big work, you can’t expect the client to be making decisions based on social considerations. The client is getting the work done regardless of circumstances. FROM page one If Bahamians want to get into the big leagues, they have to think big league and stop thinking like one-man bands.” referred to by the British Mr Rahming also told Tribune Business that while Columbia Securities Com- Bahamian architects were looking to design more energy- BROKER/DEALER DENIES efficient homes, they often do no fit the liking of local mission. The Canadian regulator, clients. which has set October 4, “The problem is something we call taste,” Mr Rahming 2011, as the date to hear the said. “ Most of the things that would make a building CANADIAN ‘MISCONDUCT’ RAP more economical and fit the climate better are things that allegations against the “Gibraltar used its United Securities Commission of gin Islands, Mr Ward said most Bahamian clients tell you they don’t want, because it’s Bahamian broker/dealer, is States account to conduct the Bahamas conducted an that due to regulatory claiming that the latter not what they see in the North American picture books. open market transactions in unrelated inspection of changes “persons cannot They don’t look in the picture books from Samoa, Japan, breached its Securities Act the securities of the report- Gibraltar for its own pur- expect the level of secrecy by failing to register with it Fiji and places like that; they look at picture books from ing issuer on behalf of two poses, and found some of and confidentiality as in the North America.” while trading and advising other Gibraltar accounts the information the British past”. in securities, and taking on whose beneficial owners are Columbia Securities Com- clients, from within its terri- residents of British Colum- mission had requested back tory. bia.” in 2009. Alleging that Gibraltar, The other offence the This was allegedly pro- via its correspondent Canadian regulator is accus- vided to the Canadian reg- accounts with a Vancouver- ing Gibraltar of is failing to ulator by the Securities based broker, had traded in provide it with the names, Commission of the Cdn$14.239 million worth of account information and Bahamas on January 20, shares in start-up and micro statements, for all British 2011. This purportedly cap companies on the Columbia residents it holds showed that 16 British Toronto Stock Exchange’s accounts for. It claimed this Columbia residents held (TSX) Venture board in the failure made Gibraltar accounts with the Bahamian year between July 1, 2010, “unsuitable” to be provid- broker/dealer. and June 30, 2011, the ing securities-related ser- Gawaine Ward, the Secu- British Columbia Securities vices in its territory. rities Commission’s in- Commission claimed the The British Columbia house legal counsel, last Bahamian firm told its cor- Securities Commission night told Tribune Business respondent that all the activ- investigation into Gibraltar he could not speak on ity was “for its own propri- began in 2008, when it whether the Bahamian reg- etary purposes”. learnt that residents in its ulator would investigate The Canadian regulator territory held accounts Gibraltar, or whether its froze $2.2 million in Gibral- there. It sought the Securi- licensees had breached any tar’s Vancouver-based cor- ties Commission of the Bahamian laws. respondent accounts on Bahamas’ assistance, via a Asked whether the regu- August 5, and further January 22, 2009, letter, in lator was concerned about alleged that among British obtaining the names of the allegations concerning Columbia residents holding Gibraltar’s principals and some of Gibraltar’s clients, accounts with the Bahamian beneficial owners, its he responded: “We are firm were “one who has employees and all British always concerned when we been convicted of wire fraud Columbia residents with see things like that, and if and securities fraud in the accounts there. any activities of that nature United States in connection The Canadian regulator, have been taking place, the with market manipulation”. though, alleged that Gibral- Commission will consider Another was alleged to be tar refused to provide the it.” the subject of a different requested information to Mr Ward said the Securi- British Columbia Securities the Securities Commission ties Commission’s role was Commission hearing, for of the Bahamas. one of responding to a legit- which a decision is pending. The British Columbia imate request for regulatory In response, Mr Davis, a Securities Commission then assistance by an overseas former president of the Cer- said it sent a letter to the regulator, and providing tified Financial Analyst Bahamian broker/dealer on information to assist that. (CFA) Society of the December 14, 2009, seeking The Bahamian regulator Bahamas between 2004- the same information. was satisfied that its Cana- 2005, said Gibraltar did not Gibraltar, in a December dian counterpart’s investi- hold any account facilities 30, 2009, response allegedly gation, and request for assis- for the individuals referred said it had instructed its tance and information, were to by the Canadian regula- attorneys to respond and legitimate. tor. the regulator would receive While the Securities Com- He added: “We deny this in early 2010. mission did not have as these allegations. They are The Canadian supervisor broad information powers allegations at the moment. alleged that no such as IOSCO Signatory A It is our intent to set the response was received. members such as the Cay- record straight. We have However, in early 2010 the man Islands and British Vir- committed no wrongdoing, and await our opportunity to set the record straight. “Some of the clients $ ORFDO KHDOWKFDUH VXSSOLHU LV referred to in the notice FXUUHQWO\ ORRNLQJ WR KLUH D don’t even have accounts with us. It was very mislead- ing. If it held any water they would have called those 3+$50$&,67 names. Based on some of the particulars in the notice, 6NLOO ([SHULHQFH 5HTXLUHPHQWV we cannot identify any ‡ ([FHOOHQW FRPPXQLFDWLRQ DQG clients referred to.” In its notice, the British LQWHUSHUVRQDO VNLOOV Columbia Securities Com- ‡ 7HQDFLRXV  GULYHQ DQG UHVLOLHQW mission said it was also investigating trading in the ‡ *RRG 3ODQQLQJ DQG RUJDQL]DWLRQDO VNLOOV shares of one of its listed ‡ 6HOI GLVFLSOLQH DQG VHOI PRWLYDWHG issuers. It alleged that the company had issued share ‡ ,QWHUHVWHG LQ WKH KHDOWKFDUH LQGXVWU\ certificates that had been ‡ $ELOLW\ WR LQWHUSUHW GDWD deposited into the Bahami- an company’s corespondent ‡ $PELWLRXV DQG NHHQ WR GHYHORS D FDUHHU account with a US bro- LQ D VXFFHVVIXO RUJDQL]DWLRQ ker/dealer. “Although they named $SSOLFDQWV PXVW KDYH D FXUUHQW SKDUPDFLVW OLFHQVH Gibraltar as the legal owner of shares, the certificates represented the beneficial 7R DSSO\ IRU WKLV SRVLWLRQ FDQGLGDWHV PXVW EH HOLJLEOH WR interests in the securities of OLYH DQG ZRUN LQ WKH %DKDPDV the reporting issuer of five different residents of British Columbia, who were also 3OHDVH VHQG UHVXPH·V WR Gibraltar account holders,” the Canadian regulator PHGUHSKXPDQUHVRXUFHV#JPDLOFRP alleged.

PAGE 4B, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE BUSINESS YAHOO'S BOARD UNDER FIRE

AFTERSAN FRANCISCO FIRINGThe deepening disdain forOFinterview CEOsince Bostock fired BARTZtle on a permanent leader to Associated Press Yahoo's board gained a poten- her in a phone call late Tues- take over from interim CEO tially influential voice Thursday day. While defending her own Tim Morse. CAROL BARTZ'S firing as with the disclosure that success- decisions, Bartz called the board "They could still do some- Yahoo Inc.'s CEO isn't going ful hedge fund manager Daniel a bunch of "doofuses" in a pro- thing really foolish," Gillis said. to be enough to placate a Loeb had bought a 5.2 percent fanity-laced interview with For- "The concern out there is that loudening chorus of sharehold- stake in the company with tune magazine. this is not a functional board." ers who believe Chairman Roy designs on getting rid of Bostock Bartz, 63, wasn't a sharehold- Bostock and his fellow board and at least two other longtime er favorite either, but her Loeb hopes to shake things members also should be ousted directors. description summarized the sen- up through his Third Point fund, after years of questionable Bartz, still technically a timent of many investors who which specializes on buying choices that raised doubts about Yahoo board member, also have been stewing since Bostock stakes in troubled companies. their competence. fanned the flames in her first and fellow board member Jerry In a letter Thursday, Loeb Yang balked at Microsoft demanded the resignation of Corp.'s May 2008 offer to buy Bostock and two other direc- the company for $33 per share, tors, Arthur Kern and Vyomesh or $47.5 billion. They insisted Joshi. Kern, who has a back- they were pursuing a strategy ground in radio broadcasting, that would make Yahoo worth has been on the board since IN THIS May 24, 2010 photo, Carol Bartz, CEO of Yahoo, attends a much more than Microsoft's bid, 1996 while Joshi, a top HP exec- news conference in New York. Bartz's firing as Yahoo Inc.'s CEO isn't an argument that now looks utive, has been a director since going to be enough to placate a loudening chorus of shareholders who absurd. Yahoo shares haven't 2005. Loeb also said he expects believe Chairman Roy Bostock and his fellow board members also closed above $20 in nearly three Susan James, a board member should be ousted after years of questionable choices that raised years. The stock finished Thurs- since last year, to step down doubts about their competence. (AP) day at $14.44, a gain of 83 cents, because he considers her too or 6 percent, that was propelled close to Bartz. by Loeb's attack on the board. "It is time that certain mem- ed far too long to replace Bartz. Microsoft talks collapsed. About "This board has presided over bers of this board were held But Bartz felt she was being 20 percent of Yahoo's share- some of the worst decisions accountable for its past failures turned into a scapegoat by a holders opposed Bostock's re- made by any company in recent and their individual roles," Loeb board that she says is still haunt- election at the company's latest history," said Darren Chervitz, wrote. Loeb said he is drawing ed by its rebuff of Microsoft's annual meeting. During that co-manager of the Jacob Inter- up an "all-star" list of potential takeover offer. meeting, Bostock told share- net Fund, a longtime Yahoo replacements. "The board was so spooked holders that Yahoo's board was shareholder. A spokesman for Yahoo's by being cast as the worst board "very supportive" of Bartz. Even so, Yahoo's 10-member board said it welcomes a dia- in the country," Bartz said. Yahoo leaves the evaluation board probably still isn't viewed logue with Third Point. "Now they're trying to show of its directors' performances up as the worst in Silicon Valley, "The Yahoo board recognizes that they're not the doofuses to its nominating and corporate said BGP Financial Partners the critical challenges facing the that they are." governance committee. That's Colin Gillis. He thinks that low- company and appreciates con- During Bartz's tenure, five chaired by Patti Hart, a Yahoo ly title belongs to Hewlett- structive input from all share- Yahoo directors left the board board member for the past 14 Packard Co.'s board, which has holders," the spokesman said. and four of the spots were filled months and CEO of casino snooped into people's phone In her interview with Fortune, with new appointees. Bartz game maker International records and 13 months ago Bartz said the board should remains on the board, a seat she Game Technology. switched CEOs in a move that bring her back as CEO because told Fortune she intends to If the board truly values its has been followed by a nearly she "knew what to do." keep. But Yahoo doesn't want shareholder opinion, Chervitz 50 percent drop in the compa- Loeb, Chervitz and other her in the boardroom. "Ms. thinks a majority of the direc- ny's market value that has wiped shareholders have made it clear Bartz is obligated to resign from tors should pressure Bostock out about $45 billion in share- they believe Bartz had to go. the board, and we expect her to into resigning. holder wealth. By comparison, One of their biggest grievances do so," the company spokesman "I do not delude myself into Yahoo's market value is about is that Yahoo's board signed said. Yahoo already has thinking that will necessarily $30 billion below Microsoft's last Bartz to a four-year contract in removed Bartz's picture and change the company's direction offer. January 2009, even though she biography from the section of or drive up the stock price, but it Gillis worries, though, that had no previous experience run- its website devoted to its board. would have important symbolic Yahoo's board will do more ning an Internet company or Bostock, who is also vice value," he said. "(Bostock) damage as long as Bostock and one that sells advertising to chairman of Delta Air Lines picked the wrong person to be the current members remain. make money. She was most Inc., has steadfastly refused to CEO last time and waited too Possible missteps include bid- recently CEO and then execu- surrender his post at Yahoo long to get rid of her. Now, it's ding too high for video website tive chairman of design software even after nearly 40 percent of time for the accountability to Hulu.com, which is up for sale, maker Autodesk. The board's shareholders voted against his move up the chain of com- or picking poorly when they set- critics also think the board wait- re-election in 2008 after the mand."

%DKDPDV 3XEOLF FINANCIAL REGULATOR 6HUYLFHV 8QLRQ LEADERSHIP ‘CRITICAL’ FROM page one pared to pay a reasonable salary by mar- ket standards.” ing the Government’s fiscal constraints, Mr Acknowledging that there was “very Moree urged it to prioritise this objective, giv- little money available to the Govern- en the importance of maintaining the financial ment”, the senior attorney added: “Yet services sector’s competitiveness and role as a again it comes down to a question of pri- job creator/middle class bedrock. orities. To finish the job of regulatory Praising the Government for commit- reform is highly commendable, and ting to completing the reform process, Mr absolutely necessary for us to posture the Moree told Tribune Business: “In addition Bahamas as an international financial cen- to finalising the structure and introducing tre going forward, allowing us to com- the enabling legislation, I would also pete...... encourage the Government to ensure the “It would be most unfortunate, and surviving regulatory bodies will be ade- much of the goodwill and substantial ANNOUNCEMENT quately resourced and funded. progress that has been made by complet- “In that regard, I’m particularly refer- ing the reforms could be substantially ring to human resources and leadership on ameliorated if we don’t get the right lead- one hand, and technology, research and ership, and the regulator is not properly ,Q$FFRUGDQFHZLWK$UWLFOH  RIWKH8QLRQ¶V benchmarking on the other hand. Our funded and resourced. primary regulators must have the ability “These are difficult financial times, but &RQVWLWXWLRQ7KH%DKDPDV3XEOLF6HUYLFHV to adequately enforce and supervise a bearing in mind we’re talking about reg- very large financial services industry with ulation of the second largest industry in 8QLRQZLOOKROGWKH7UL$QQXDO*HQHUDO a number of different sectors in a manner the Bahamas, responsible for thousands of that is consistent with international stan- local job and the primary engine to sup- 0HPEHUVKLS0HHWLQJRQ dards.” port the middle class in this country, it The Government is looking to adopt a seems important to me as a matter of )5,'$< 6(37(0%(5 7+  'Twin Peaks' regulatory model - merging national priority that this matter is dealt the Securities Commission, Insurance with in accordance with policy objectives %HJLQQLQJDWSPDWWKH Commission and Compliance Commis- and legislative enactments.” sion into one, but keeping the Central Regulatory leadership, Mr Moree %$+$0$6 &20081,&$7,216 Bank's Banking Supervision Department added, was closely linked to having a separate. financial supervisor that “develops our 38%/,& 2)),&(56 81,21 %&328 While not commenting on any regula- industry rather than retards it through tory structure, Mr Moree said a “critical unnecessary bureaucracy and heavy-hand- decision” and “the very first issue” to be ed regulation”. +$// )$55,1*721 52$' decided once a merged regulator’s struc- “Unfortunately, sometimes people feel ture and enabling legislation was decided, that o regulate properly you have to be was the selection of a chief executive. He anti-business,” he said. “It’s like the $XGLWRUV5HSRUWVZLOOEHSUHVHQWHG hinted that this person’s status should be school system, where some think that to equivalent to the Central Bank of the be a great teacher you have to be a great Bahamas governor. disciplinarian, always being on top of the “The Government must ensure the per- kids.” $OOPHPEHUVDUHXUJHGWRDWWHQG son selected is an experienced and quali- Responding to the commitment by DQGEHRQWLPH fied regulator who has a track record that Zhivargo Laing, minister of state for we can look at, so as to provide some finance, to complete the regulatory reform insight as to the ability of this person to process, Mr Moree he was looking for- lead whatever regulatory body is creat- ward to “legally consolidating the current 5HIUHVKPHQWVZLOOEHVHUYHGDIWHUWKHPHHWLQJ ed,” Mr Moree urged. number of regulators into a more effi- “Leadership is critical, because even if cient and market-driven structure”. we get the structure right and pass state- “I was also very pleased to note in the of-the-art legislation, if we end up with the minister’s remarks that they indicated wrong leader the project will not succeed, there was a recognition this was an impor- and will not accomplish the objectives the tant matter to complete before the end public and private sector desire to of this year, and I would certainly encour- achieve. age the Government to complete this “The selection of a chief executive, in exercise as soon as possible,” Mr Moree my view, is a critical decision, and in order said. to get the right person we must be pre-

THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 5B BUSINESS MORTGAGE RATES LOWEST IN DECADES, BUT FEW QUALIFY WASHINGTON Consider a homeowner Associated Press who owes $250,000 and is paying 5.09 percent on a 30- MORTGAGE RATES year fixed mortgage. That have reached their lowest was the average rate on a levels in six decades, mak- 30-year fixed loan being ing this the best time in most offered in January 2010. Americans' lives to buy or Refinancing the loan at 4.12 refinance a home. For peo- percent could save him or ple who qualify, today's her roughly $2,000 a year. rates could save thousands But many homeowners of dollars a year. with good jobs and stable Yet most people can't finances have already refi- take advantage. Half of nanced in the past year. The would-be buyers say they'll average rate on the 30-year never save enough for the fixed loan fell to 4.17 per- 20 percent down payment cent last November, and to now usually required. And 4.15 percent last month. shrunken home values have Both were previous lows. erased much of the equity Homeowners typically people need to refinance. pay a few thousand dollars "Low rates are great, but in closing costs when they the real issue is that the pool refinance. To refinance of people who can get a loan again, most experts say rates or refinance is small," said would need to fall an addi- Greg McBride, tional 1 percentage point to Bankrate.com's senior finan- make it worthwhile. cial analyst. Still, plenty of people This week, the average could benefit from the low rate on a 30-year fixed mort- rates. More than 75 percent gage fell to 4.12 percent. It's of homeowners with a gov- the lowest for a 30-year fixed ernment-backed mortgage loan since mortgage buyer , traders work on the floor of the New York Stock Exchange. Stocks advanced for the second day running are paying rates above 5 per- IN THIS AUG. 29, 2011 PHOTO Freddie Mac began tracking Thursday, Sept. 8, 2011, amid hopes that global policymakers will enact more measures to shore up ailing economic growth. (AP) cent. rates in 1971. The last time But most can't qualify. rates were cheaper was in Mike Anderson, a mortgage 1951, when most long-term broker in Baton Rouge, La., home loans lasted just 20 or said he's turning away 25 years. roughly 40 percent of cus- The average on the 15- tomers seeking home loans year fixed loan, a popular and refinancing. refinancing option, dropped "I've never had to turn STOCKS SLIDE AFTER BERNANKE to 3.33 percent this week. down so many loans That's also an all-time low, upfront," Anderson said. according to most econo- Banks are insisting that mists. applicants have higher cred- Record-low rates have it scores and make 20 per- done little to energize cent down payments if they OFFERSNEW YORK NOPresident ObamaNEW will lay isSTIMULUSan important economic announced it was buying depressed home sales. The are a first-time buyer. Associated Press out his jobs plan at a joint indicator for investors. Ris- OpenTable rival Zagat, a average rate on the 30-year Roughly 40 percent of session of Congress tonight. ing claims can add to con- publisher of restaurant fixed loan has been below 5 U.S. households have the U.S. stocks closed sharply He is expected to announce cerns that the job market reviews in print and online. percent for all but two necessary credit scores lower Thursday after Fed- a $300 billion package that is stalled and the U.S. econ- Pall Corp. slumped 10 per- weeks this year. Yet sales of above 700 to get a prime eral Reserve Chairman Ben includes tax cuts, addition- omy is headed for another cent, to $44.03, after the previously occupied homes mortgage rate, according to Bernanke offered no new al state aid and spending recession. Applications maker of filtration equip- are on pace for their weak- an Associated Press analy- insight into whether the on infrastructure. need to fall below 375,000 ment reported earnings est year since 1997. sis of Fair Isaac Corp., or central bank will act soon The Dow Jones industri- to indicate sustainable job that fell far short of what Too many would-be buy- FICO, data. to prop up the economy. al average lost 119.05 growth. Last week the gov- analysts were expecting. ers can't come up with a But just half of potential- In a speech closely points, or 1 percent, to ernment reported there was Pall dropped the most of down payment, don't have ly buyers say they can save watched by investors, 11,295.81. The Standard & zero job growth in the U.S. any stock in the S&P 500 a job, lack enough income enough for a down payment, Bernanke said the Fed will Poor's 500-index fell 12.72, economy in August. index. or are burdened by large particularly one as high as consider a range of steps at or 1.1 percent, to 1,185.90. Not all of the economic Yahoo Inc. jumped 6 per- debt loads. 20 percent, according to a its Sept. 20-21 meeting, but The Nasdaq composite news Thursday was nega- cent to $14.44 after Third Mortgage rates are low survey by the National largely because investors are he offered no specific plans. shed 19.80, or 0.8 percent, tive. American exports of Point, an activist invest- Foundation for Credit worried about the U.S. Counseling. The Dow Jones industrial to 2,529.14. Each index had cars, airplanes and other ment fund, disclosed that it economy. As a result, Another problem is that average fell 100 points posted gains earlier in the goods reached an all-time has bought a 5.2 percent they're moving their money nearly a third of homeown- shortly after Bernanke's day. high in July, the Commerce stake in the troubled Web out of stocks and into U.S. ers either have less than 5 remarks began at 1:30 p.m. Cisco Systems Inc. led Department reported. portal and called for sweep- Treasurys. Mortgage rates percent equity in their home Eastern. the 30 Dow stocks with a Economists said the jump ing changes to the board. tend to track the yield on or are "underwater" — that "The implications are 2.6 percent gain. JPMorgan in exports suggest future Yahoo's board fired CEO the 10-year Treasury note, is, they owe more on their that the Fed is going to act, Chase & Co., Bank of growth in the U.S. econo- Carol Bartz on Tuesday which touched an all-time mortgage than their home is but the market is disap- America Corp and Boeing my. after 2 1/2 years on the job. low this week. worth — according to the pointed because he was a Co. each fell 3 percent, "The market is sitting She harshly criticized the A drop in mortgage rates real estate research firm little short on details," said pulling the average lower. around and trying to piece board in an interview pub- could provide some help to CoreLogic. Scott Brown, chief econo- Investors received mixed it all together, "said Rob lished Thursday. the economy if more people As a result, they can't mist at Raymond James. economic data before the Stein, the founder and Four stocks fell for every could refinance. When peo- afford a down payment on a Concerns about the U.S. market opened. First-time global head of asset man- one that rose on the New ple refinance at lower rates, bigger home and can't refi- economy have pushed applications for unemploy- agement at Astor Asset York Stock Exchange. Vol- they pay less interest on nance because of lender- stocks lower each month ment benefits rose last Management. "For all the ume was lower than aver- their loans and have more imposed limits and the cost since April. Many traders week to 414,000. Econo- volatility that we've had age at 3.7 billion shares. money to spend. of extra fees. now say the stock market mists had expected 405,000. recently, the market is is pricing in the assumption The prior week's estimate going nowhere." that the economy is in a of new claims was also OpenTable Inc., a restau- recession, meaning limited revised higher. rant booking and review job growth and a weaker The weekly report on website, dropped 8 percent corporate profits. unemployment applications to $57.50 after Google Inc.

PAGE 6B, FRIDAY, SEPTEMBER 9, 2011 THE TRIBUNE BUSINESS

PLAN FROM OCTOBER 17 THROUGH DECEMBER 16 WAL-MART BRINGS BACK LAYAWAY FOR HOLIDAY SHOPPERS NEW YORK Associated Press

WAL-MART is bringing back something its cus- tomers have been asking for since the Great Recession: layaway. The world's largest retail- er, which ditched the pay- as-you-go plans in 2006, is rolling out a holiday layaway plan from Oct. 17 through Dec. 16. Wal-Mart is fol- lowing rivals that brought back the service during the thick of the recession. THE WAL-MART LOGO is displayed in Springfield, Ill. Wal-Mart is bringing back something it avoided during the Great Recession: layaway. Wal-Mart's layaway will kick off Oct. Wal-Mart's layaway 17 and run through Dec. 16, but the company said it may extend the option throughout the year if the program is successful. (AP) option comes at a time when its mostly low-income shop- pers are being squeezed by had become largely a thing service fee and $10 cancel- throughout the year. that it will start offering prices" instead of focusing high unemployment and ris- of the past as the economy lation charge for any orders The layaway plan is part small samples of holiday on pricing gimmicks like ing costs. It also comes as flourished and consumers not picked up by Dec. 16 or of Wal-Mart's efforts to merchandise, including out- temporarily slashing prices Wal-Mart tries to reverse were feeling more confident. cancelled by the customer. turnaround its struggling door décor, later this month on select items that caused nine straight quarters of rev- But when credit dried up, The program, which has a U.S. business. – two weeks earlier than a some shoppers to go else- enue declines at its name- and the job market soured minimum layaway purchase In addition to the layaway year ago. where. sake U.S. stores open at during the recession that of $50, is only available at program, Wal-Mart said that These moves are just the It's also finishing up least a year __ a key mea- began in late 2007, Sears and stores. It also requires a 10 starting Monday, it will latest effort by Wal-Mart to restocking thousands of sure of a retailer's health. other merchants added back percent down payment. The launch price cuts on dozens revive sales. items it cut during an "We're always looking for or expanded the service. company said if the program of holiday toys to $15. Wal-Mart has been going overzealous bid to clean up ways to ease budget strain Citing increased costs and is successful, it may extend it The company also said back to "everyday low its stores. for our customers, and we lower customer demand, know this holiday season Wal-Mart phased out its lay- brings with it additional away in September 2006 __ financial pressure," said roughly a year before the Duncan MacNaughton, recession began __ with the chief merchandising officer exception of fine jewelry. at Wal-Mart's U.S. division. But the discounter faced "This was a key component criticism because it built its reputation on helping its CONSUMER BORROWING UP that our customers asked us for." low-income shoppers. Layaway — which allows Wal-Mart Stores Inc., shoppers to pay over time, based in Bentonville, Ark., interest- free, and pick up said it will be able to limit costs now by limiting the WASHINGTONFOR 10THpopular STRAIGHT models this spring. The supply chain economy MONTH grew at an annual rate of just 0.7 their merchandise when it's paid in full — became pop- layaway program to toys Associated Press disruptions have eased in recent months. percent. That's the slowest growth since the ular during the Great and electronics with a price The category that measures auto loans rose recession officially ended more than two years Americans borrowed more money in July in July by the most in more than six years. Depression. The practice tag of $15 or more. It also ago. added a $5 non-refundable than any other month in more than three Borrowing is usually a sign of confidence in Last week, the government said the econo- years. But they cut back on using their credit the economy. Consumers tend to take on my added no net jobs in August, and the cards. more debt when they feel wealthier. But an unemployment rate stayed at 9.1 percent for a Consumer borrowing rose nearly $12 billion increase in credit card use can be a sign that second straight month. It was the weakest in July, the Federal Reserve said Thursday. people have fallen on harder times. month for hiring in nearly a year. 05",)# ./4)#% Greater demand for school and auto loans Federal Reserve Chairman Bernanke said Households began borrowing less and sav- ).4%.4 4/ #(!.'% .!-% "9 $%%$ 0/,, fueled the increase. A category that measures Thursday that heavy debt loads was one rea- ing more when unemployment spiked during credit card use fell in July after large increas- son consumers aren't spending more and using the recession. Credit card use fell. / i *ÕLˆV ˆÃ iÀiLÞ >`ۈÃi` Ì >Ì ] $%.)%3 3-)4( es in May and June. their credit cards. But even taking into account Economists do not expect consumers to *%./52% œv *°"° œÝ - ‡xä£Ç{] >ÃÃ>Õ] > >“>à Total consumer borrowing increased to a debt, "households seem exceptionally cau- load up on debt the way they did during the ˆ˜Ìi˜` ̜ V >˜}i “Þ V ˆ`½Ã ˜>“i vÀœ“ !,%%3(! $%.)3( seasonally adjusted annual level of $2.45 tril- tious," Bernanke said in a speech in Min- housing boom in 2006 and 2007. During that *%./52% TO !,%%3(! $%.)3( "52.3° v Ì iÀi >Ài >˜Þ lion. That's barely 2 percent above the four- neapolis to the Economic Club of Minnesota. period, Americans felt wealthier and more year low reached in September. Americans have been struggling this year willing to take on added debt because of the œLiV̈œ˜Ã ̜ Ì ˆÃ V >˜}i œv ˜>“i LÞ ii` *œ] ÞœÕ The increase in loans was largely because of with high unemployment, scant raises and soaring value of their homes. “>Þ ÜÀˆÌi ÃÕV œLiV̈œ˜Ã ̜ Ì i i«ÕÌÞ ˆiv *>ÃëœÀÌ a pickup in auto sales, said Troy Davig, senior steep gas prices. Many economists are worried The Federal Reserve's borrowing report "vwViÀ] *°"° œÝ ‡Ç{Ó] >ÃÃ>Õ] > >“>Ã] ÜˆÌ ˆ˜ Ì ˆÀÌÞ U.S. economist at Barclays Capital. The March that the economy is at risk of slipping into includes auto loans, student loans and credit ­Îä® `>Þà >vÌiÀ Ì i `>Ìi œv «ÕLˆV>̈œ˜ œv Ì ˆÃ ˜œÌˆVi° 11 earthquake in Japan caused a global parts another recession. cards. 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BISX LISTED & TRADED SECURITIES AS OF: creation before a joint ses- Atlantic is moving toward THURSDAY, 8 SEPTEMBER 2011 sion of Congress Thursday Florida, while Tropical BISX ALL SHARE INDEX: CLOSE 1,398.23| CHG -0.02 | %CHG 0.00 | YTD -101.28 | YTD % -6.75 FINDEX: YEAR END 2008 -12.31% night. Storm Nate churns in the WWW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320 52wk-Hi 52wk-Low Security Previous Close Today's Close Change Daily Vol. EPS $ Div $ P/E Yield U.S. Federal Reserve Gulf, near Mexico. 1.19 0.95 AML Foods Limited 1.19 1.19 0.00 0.155 0.080 7.7 6.72% 10.63 9.05 Bahamas Property Fund 10.63 10.63 0.00 -0.642 0.080 -16.6 0.75% Chairman Ben Bernanke The government reported 7.50 4.40 Bank of Bahamas 6.93 6.93 0.00 0.230 0.100 30.1 1.44% 0.53 0.17 Benchmark 0.18 0.18 0.00 -0.048 0.000 N/M 0.00% said earlier in the day in Thursday that U.S. oil sup- 2.84 2.55 Bahamas Waste 2.70 2.70 0.00 0.030 0.090 90.0 3.33% 1.96 1.77 Fidelity Bank 1.77 1.77 0.00 0.097 0.040 18.2 2.26% Minneapolis said the Fed plies dropped by 4 million 11.10 8.29 Cable Bahamas 8.48 8.48 0.00 0.245 0.310 34.6 3.66% 2.80 2.35 Colina Holdings 2.55 2.55 0.00 0.438 0.040 5.8 1.57% will consider various ways barrels last week, which was 8.50 8.33 Commonwealth Brewery 8.50 8.50 0.00 580 0.740 0.000 11.5 0.00% 7.00 6.21 Commonwealth Bank (S1) 6.88 6.88 0.00 0.496 0.260 13.9 3.78% to stimulate the economy more than analysts expect- 2.00 1.63 Consolidated Water BDRs 1.64 1.62 -0.02 0.111 0.045 14.6 2.78% 1.77 1.31 Doctor's Hospital 1.37 1.37 0.00 0.074 0.110 18.5 8.03% when it meets later this ed. Imports were down by 5.50 4.75 Famguard 5.43 5.43 0.00 0.498 0.240 10.9 4.42% 8.50 5.35 Finco 5.39 5.39 0.00 0.757 0.000 7.1 0.00% month, but he gave no more than a million barrels 9.74 7.75 FirstCaribbean Bank 8.29 8.29 0.00 0.494 0.350 16.8 4.22% 6.00 5.00 Focol (S) 5.75 5.75 0.00 0.435 0.220 13.2 3.83% specifics. per day, as Hurricane Irene 1.00 1.00 Focol Class B Preference 1.00 1.00 0.00 0.000 0.000 N/M 0.00% 7.30 5.50 ICD Utilities 7.30 7.30 0.00 -0.122 0.240 -59.8 3.29% Obama's speech is expect- interfered with shipping on 10.80 9.80 J. S. Johnson 9.82 9.82 0.00 0.880 0.640 11.2 6.52% 10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.207 0.200 8.3 2.00% ed to include a $300 billion the East Coast. BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis) 52wk-Hi 52wk-Low Security Symbol Last Sale Change Daily Vol. Interest Maturity plan to create jobs. He'll The Energy Information 99.46 99.46 Bahamas Note 6.95 (2029) BAH29 99.46 0.00 6.95% 20 November 2029 100.00 100.00 Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00 7% 19 October 2017 likely propose a series of ini- Administration said in a sep- 100.00 100.00 Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75% 19 October 2022 tiatives, including extensions arate report that natural gas 100.00 100.00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May 2013 100.00 100.00 Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75% 29 May 2015 of the payroll tax cut and supplies grew more than RoyalFidelity MerchantBank & Trust Ltd. (Over-The-CounterSecurities) 52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Daily Vol. EPS $ Div $ P/E Yield long-term unemployment expected last week. 10.06 5.01 Bahamas Supermarkets N/A N/A 14.00 -2.945 0.000 N/M 0.00% 0.55 0.40 RND Holdings 0.35 0.40 0.55 0.001 0.000 256.6 0.00% benefits, tax incentives for Meanwhile, gasoline CFAL Securities Ltd. (Over-The-Counter Securities) 41.00 29.00 ABDAB 30.13 31.59 29.00 4.540 0.000 9.03 0.00% companies to expand their pump prices held steady at a 0.55 0.40 RND Holdings 0.65 0.75 0.40 0.029 0.000 24.13 0.00% BISX Listed Mutual Funds workforce and money for national average of $3.655 52wk-Hi 52wk-Low Fund Name NAV YTD% Last 12 Months % NAV 3MTH NAV 6MTH NAV Date 1.5779 1.4674 CFAL Bond Fund 1.577926 3.39% 5.87% 1.548717 1.535365 31-Jul-11 public works projects. per gallon, according to 3.0160 2.9020 CFAL MSI Preferred Fund 3.0248 2.63% 3.94% 2.981382 2.952663 31-Jul-11 1.6128 1.5289 CFAL Money Market Fund 1.6151 2.61% 4.53% 1.591803 1.580804 5-Aug-11 High U.S. unemployment AAA, Wright Express and 2.8686 2.5730 Royal Fidelity Bahamas G & I Fund 2.5730 -5.41% -9.79% 30-Jun-11 13.7347 13.2291 Royal Fidelity Prime Income Fund 13.7347 2.82% 1.94% 31-Jul-11 and the debt crisis in Europe Oil Price Information Ser- 114.1289 99.4177 CFAL Global Bond Fund 114.0922 2.35% 13.88% 114.128861 111.469744 30-Jun-11 118.4255 101.6693 CFAL Global Equity Fund 118.4255 2.30% 8.26% 116.580785 115.762221 30-Jun-11 have kept oil between $80 vice. A gallon of regular is 1.1749 1.0000 FG Financial Preferred Income Fund 1.1749 2.48% 5.16% 30-Jun-11 1.1343 1.0000 FG Financial Growth Fund 1.1343 1.41% 5.17% 30-Jun-11 and $90 per barrel for more nearly 98 cents higher than a 1.1764 1.0000 FG Financial Diversified Fund 1.1764 2.38% 5.39% 30-Jun-11 9.5078 Royal Fidelity Bah Int'l Investment Fund Principal than a month, as investors year ago. 9.9952 Protected TIGRS, Series 1 9.9433 0.98% 4.58% 31-May-11 11.4985 10.5308 Royal Fidelity Bah Int'l Investment Fund Principal worried about diminished In other energy trading, Protected TIGRS, Series 2 10.9652 0.78% 5.70% 31-Jul-11 10.6813 9.4372 Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 3 10.6013 5.75% 13.20% 31-Jul-11 demand for oil and gas in heating oil fell 3.13 cents to 8.8564 7.8830 Royal Fidelity Int'l Fund - Equities Sub Fund 8.6507 3.01% 18.38% 31-Jul-11 MARKET TERMS the sluggish economy. end at $3.0443 per gallon 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 Benchmark crude fell 29 and gasoline futures gave up 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 cents on Thursday to finish 2.28 cents to finish at $2.8852 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 at $89.05 per barrel in New per gallon. Natural gas 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 York. increased 4 cents to end the 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 Brent crude, used to price day at $3.980 per 1,000 cubic (S1) - 3-for-1 Stock Split - Effective Date 7/11/2007 TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 many international varieties feet. THE TRIBUNE FRIDAY, SEPTEMBER 9, 2011, PAGE 7B BUSINESS

WASHINGTON during summer negotia- IN THIS SEPT. 9, 2009 file Associated Press tions over increasing the photo President Barack Obama nation's debt ceiling. is greeted on Capitol Hill in STRUGGLING to fix Offsetting some costs of Washington after delivering a the sickly economy, Presi- his economic plan with speech on healthcare to a joint dent Barack Obama was new tax revenue is likely session of Congress. (AP) appealing for support from to meet stiff resistance a divided Congress Thurs- from Republicans. But the day night for a battery of White House has argued ideas to create jobs quick- that the public has sup- ly and keep more cash in ported a mix of spending interest in lining up a for- the pockets of dispirited cuts and revenue as a way mal response to Obama. Americans. His message to avoid higher deficits. At least a few of them to Republican lawmakers: White House Chief of were staying away alto- This is your mess to clean Staff William Daley said gether. up, too. before the speech that "Every time somebody Obama's furious push wealthy Americans "ought skins their knee, his reac- on employment, his latest to pay a little more." tion is to hold a big stab at the defining issue The American public is speech," said Rep. Joe of his presidency, aimed to weary of talk and wary of Walsh, R-Ill., who planned shore up his chances of promises that help is on to be back in his suburban keeping his own job next the way. Chicago district meeting year. He must stem erod- About 14 million people with small-business own- ing confidence in his lead- are unemployed. There is ers. "He's cheapened the ership as the public mood just one job opening avail- very notion of a joint ses- darkens and Republican able for every four job sion of Congress." presidential challengers seekers, on average, in the Boehner encouraged assail his record. richest nation on earth. members of his party to In a nationally televised In one striking sign of attend. address to Congress, Oba- discontent, nearly 80 per- The coming weeks could ma was expected to cent of people think the be the only window for announce a program of tax country is headed in the bipartisan action on jobs cuts, construction spend- wrong direction. That's before the 2012 presiden- ing, unemployment aid about the same level of tial campaign swallows and money for states. pessimism as when Oba- everything. The core elements ma took office. It reflects Obama took office in include extending the cur- both persistently high the midst of recession that rent reduction in the unemployment and disgust began in December 2007 amount of Social Security with Washington infight- and ended in June 2009, payroll tax that workers ing. costing America a stag- pay, and expanding jobless gering 7.5 million jobs. benefits for those who Even though many voters can't find work month Re-election are spreading blame after month. around, Obama owns the No incumbent president The cost was expected economy now and his in recent history has won to be at least $300 billion, political strategy of putting re-election with the unem- and perhaps more. Obama the onus on Congress ployment rate anywhere was to promise a way to holds risk. near the current level, 9.1 pay for it without sinking If nothing comes of his percent. the nation deeper in debt. jobs program and he tries Writ large, Thursday In the best case, such a to blame Congress, he will night was about more than package could provide still be the most identifi- a speech or plan, suggest- help that people would able target for voter ire. ing whether the nation's feel in their daily lives. It White House officials leaders can agree on any would boost consumer and said Obama would for- ways to help a nation in investor confidence and mally send his plan — economic peril. spur hiring. coined by the administra- Some Republican lead- Yet even that might not tion as the American Jobs ers, under their own pres- help the recovery enough Act — to Congress next sure from constituents to to assuage the millions of week. The Democratic get results, offered signs unemployed, let alone sat- House leader, Nancy of compromise before isfy voters. Pelosi, lobbied leaders of Obama spoke. And that's assuming her caucus to push for leg- "The American people Obama gets what he asks islative hearings and votes want us to find common from Capitol Hill. His plan quickly. ground, and I'm going to would require approval by Before he spoke, Oba- be looking for it," House a Congress that is deeply ma got a tough preview Speaker John Boehner divided, with many House from a member of his own told reporters. Republicans strongly party, Rep. Maxine The top Republican in opposed to his efforts. Waters of California. the Senate, Mitch To pay for his plan, She has been pressing McConnell, wasn't so Obama will challenge a Obama to pay more heed upbeat. He cast Obama's new debt panel in Con- to the plight of black expected ideas as retreads, gress to go beyond its Americans, whose unem- saying: "This isn't a jobs charge of identifying $1.5 ployment rate stands at plan. It's a re-election trillion in deficit reduction, 16.7 percent. plan." so the extra savings could "There are roughly 3 Obama chose not just to offset the cost of short- million African Americans give a speech but to con- term stimulus ideas. That out of work today, a num- vene Congress, allowing panel met for a first time ber nearly equal to the him to challenge House Thursday, members entire population of Republicans on their own expressing determination Iowa," Waters said. turf. The strategy is to but facing a demanding "I would suggest that if appeal to the lawmakers assignment. the entire population of in front of him to pass a Obama was expected to Iowa, a key state on the deal — and to try to show propose paying for some electoral map and a place the voters watching at of his jobs initiatives by that served as a stop on home, particularly inde- closing corporate tax loop- the president's jobs bus pendents, that he isn't the holes and increasing taxes tour were unemployed, one to blame for inaction. on wealthier Americans, they would be mentioned Republicans had no measures he failed to win in the president's speech."

THE TRIBUNE • SECTION E FRIDAY, SEPTEMBER 9, 2011 STILL JUMPING HIGH, BARRY GETS SILVER IN SWITZERLAND By BRENT STUBBS ond place finish in the men's high of high jumpers. I also feel more Qatar got sixth. Ukhov was tied for Senior Sports Reporter jump. relaxed approaching the higher fifth in Daegu, while Williams was [email protected] Short of his personal best of 2.32 bars." the gold medallist. Dem'yanyuk was metres or 7-feet, 7 1/4-inches that Also competing in the event was tied for 12th and Essa Barshim was revor Barry has cer- landed him the only spot for the Donald Thomas, while quarter-mil- seventh. tainly not allowed his Bahamas on the medal podium in er Chris 'Fireman' Brown and sprint- "The competition was a bit success at the 13th the colourful Daegu Stadium, Barry er Debbie Ferguson-McKenzie mediocre. There are at least five IAAF World Champi- soared 2.30m (7-6 1/2) (his previous returned to action in their specialties guys capable of jumping 2.34 (7-8) or onships in Athletics to PR) to trail Dimítrios Chon- after their sub-par appearances in better. I was a bit surprised that 2.32 getT to his head. drokoúkis of Greece. Chon- Daegu. (7-7 1/4) won," Barry noted. "With Fresh off his bronze-medal per- drokoúkis elevated to the top of the In the men's high jump, four com- Jesse Williams and (Andrey) Silnov formance last week in Daegu, South chart with a leap of 2.32m (7-7 1/4). petitors were tied at 2.28m (7-5 3/4) (of Russia) both tied for first with Korea, Barry was back in action yes- "It feels good to be back in action with Ivan Ukhov of Russia taking nine points a piece in the Diamond terday at the Weltklasse Zürich Dia- after the World Championships," third and American Jesse Williams League, I was almost certain that mond League Grand Prix meet in Barry told The Tribune during a settled for fourth. Dmytro 2.36 (7-8 3/4) or better would have Switzerland where he led a small brief interview after the event. "I Dem'yanyuk of the Ukraine was contingent of Bahamians with a sec- feel more confident with this field TREVOR BARRY in Daegu. (FILE) fifth and Mutaz Essa Barshim of SEE page 3E INSIDETRAK JAMAICAN AUGUST RUNS PB 9.82 Happy campers hit MAKING HIS IN THE 100M PRESENCE FELT WITH green with Ranger BLUE DEVILS By RENALDO DORSETT Sports Reporter [email protected] TURN TO 3E... WITH the NCAA ARSENAL sporting calendar LOOKS TO under- way for NEWCOMERS the fall 2011CAMPBELL TO SPARK semester, football is the first major IMPROVEMENT sport contested. And one Bahamian is looking to take a more prominent TURN TO 4E... role with his club. August Campbell began his red shirt sophomore season with the Duke Blue US OPEN: Devils last weekend as teams kicked off their 2011 MOVED TO campaigns around the country. TINY COURT The Blue Devils fell in a close 23-21 loss to the 13, RODDICK Richmond University Spi- ders at Wallace Wade Sta- GETS THE dium in Durham, North Carolina. VICTORY Campbell, in his role as the gameday starter, made TURN TO 5E... an impact on the stat sheet with five tackles in his move from linebacker to EUROBASKET: safety. The Blue Devils next RUSSIA AND LOCAL GOLF PRO Nelson Ranger (right) sits in a golf cart with participants in the 3rd annual Nelson A Ranger Summer Golf Camp match up will be at home at Sandals Emerald Bay resort in Exuma. The camp, attended by children in Exuma between the ages of seven and 17, was deemed SEE page 3E MACEDONIA a huge success by Ranger and the organisers. SEE FULL STORY PAGE 2E, MORE PHOTOS ON 8E REACH THE QUARTER FINALS D-LEAGUE PROSPECT BENNET DAVIS SIGNS WITH TEAM IN FINLAND By RENALDO DORSETT as he signed with teams continue to the playoffs. Sports Reporter KTP Basket, Kotka Davis made the move to Finland [email protected] of Finland Korisliiga. after successfully recovering from a Korisliiga is the top leg injury he sustained in the D- WITH the NBA lockout forcing league of basketball League last season. He was waived by even some of the league’s top stars to in Finland, compris- the Utah Flash after he suffered a consider playing in other leagues ing the top 12 teams stress fracture in his right leg and was across the globe, D-League prospects of the country. In the sidelined for approximately two like the Bahamas’ Bennet Davis con- current format, each BENNET DAVIS months. tinue to accept opportunities in team plays all other Davis, 26, started in eight of the nine Europe. teams twice in the regular season, both TURN TO 7E. Davis’ journey continues in Finland at home and away. The top eight SEE page 3E BENNET DAVIS in action.

PAGE 2E, FRIDAY, SEPTEMBER 9, 2011 TRIBUNE SPORTS

SPORTS

HAPPY CAMPERS: Participants in the 3rd annual Nelson A Ranger Summer Golf Camp at Sandals Emerald Bay resort in Exuma.

LOCAL GOLF PRO NELSON RANGER

HOSTSLOCAL golf pro Nelson sEXUMAchool exercise books, pen- m [email protected] Ranger made an effort to cils, rulers and a tote bag to Parents who may need teach his discipline to a new charities and those in atten- financial assistance for col- group of potential athletes in dance. lege, please send a copy of the Family Islands by host- Ranger said the goal of the their child’s transcript to exu- ing the third annual Nelson camp was to expose all chil- [email protected] A Ranger Summer Golf dren to other alternative Ranger will expand his Camp at Sandals Emerald sports and careers that they camp by introducing junior Bay resort in Exuma. would not normally have golf to Abaco during the last The golf camp, attended access to in common condi- weekend of October, to be by children in Exuma tions. held on the first and third between the ages of seven As a new twist to this Saturday each month. and 17, was deemed a huge year's camp, four campers Event sponsors included success by Ranger and the who showed that their skill Sandals Resort Exuma, The organisers. level was good enough to Royal Bank of Canada, Sky A former junior golfer, advance further have Bahamas Limited, H G Ranger said he was a product received invites to take free Christie Realty, 98.3 The of such a camp and knows private golf lessons twice per Breeze Radio, Grand Isle its importance. And he is month at the resort. Resort, Thompsons Car dedicated to hosting the Rentals, Horizons Academy, camp over consecutive sum- Privilege Peace and Plenty Hotel, mers with the help of a num- Chat ‘n’ Chill, Grand Isle ber of corporate sponsors. Their golf privilege will Resort, Exumas Local Gov- The camp combines sports have to be matched by a 3.0 ernment Department, Mount with education and every ses- grade point average in the Herman Baptist Church, sion began with a lecture on classroom in an effort to pro- Exuma Markets, Sea Side LOCAL GOLF PRO Nelson Ranger (left) presents a certificate of attendance to the best male camper. the importance of education, duce productive citizens and Realty, CNK Liquors, Felix discipline and respect for great golfers. Stubbs and Images by each other. With the support of our Alexander. In the past three years, the sponsors, they have launched This year’s camp instruc- camp has given each camper the Nelson A Ranger Schol- tors included Ranger, Rudy a certificate of attendance arship Fund which will be Rolle, Steven Pedican, Pre- and there was also an award used to assist college-bound ston Gray and Allan “JJ’ for best female and male Exumians. Dames, while other volun- camper. Persons interested in teers included Magnolia In addition, the camp has assisting with the fund can Morley, Janet Watts and distributed hundreds of send an e-mail to exu- LaTysha Ranger.

CERTIFICATE OF ATTENDANCE: Local golf pro Nelson Ranger presents a certificate of attendance to the best female camper.

TRIBUNE SPORTS FRIDAY, SEPTEMBER 9, 2011, PAGE 3E

SPORTS D-LEAGUE PROSPECT BENNET DAVIS SIGNS WITH FRANK HANNA OCTOBERFEST TEAM IN FINLAND FROM page 1E

games that he played with the Flash. He held season aver- ages of 8.6 points and 6.1 rebounds per game. By RENALDO DORSETT Davis, after spending sev- Sports‘GOING Reporter TO BE A KNOCKOUT’ eral months playing in Hun- [email protected] gary, returned to the D- League's Utah Flash for his THE Broadcasting Corpo- third season with the sub- ration of the Bahamas in con- sidiary of the NBA's Atlanta junction with the Frank Han- Hawks and Utah Jazz. na Octoberfest are preparing In October of 2010, he to host another edition of the signed with MJUS-Fortress now highly anticipated event Kormend of Hungary in the on one of the country’s fastest Division A League and made developing islands. an immediate impact with the Event organisers promise club. However, after almost this year’s event, set for Octo- three months, he chose to ber 27-29, will be even more return to his former D- exciting than last year’s with League club. part proceeds going to assist In his initial season with the the building of a new library Flash, Davis started just 14 in North Andros and spon- games and averaged 6.5 soring two scholarships at the points and 3.5 rebounds. Bahamas Technical and In his sophomore cam- Vocational Institute. paign, he doubled productiv- The schedule of events ity in both areas with aver- includes volleyball, basket- ages of 13.7 points and 7.7 ball, a fishing tournament, rebounds while shooting 41 children’s activities and music per cent from the field. He concerts. was then invited to a D- League prospect training Corporation camp where his play led to his

Felipé Major /Tribune staff selection as the 41st pick of The Broadcasting Corpo- the Draft by the Flash. ration of the Bahamas and a THE ORGANISERS: Shown (l-r) are entertainer Geno D, Dr Moxey Brown, director of culture, Mrs Indira Rolle of Scotiabank, Jeff Rodgers, Davis briefly flirted with an myriad of corporate sponsors Vanda Rahming, North Andros’ chief councillor, Frank Hanna, Darnell Frazer and Keishel McAlpine of Bahamas Ferries. NBA contract when he was have ensured the success of called up by the New Jersey the event, to be held at the to get them more involved in where they could benefit out.” Friday, October 28 - Beach Nets prior to the 2009-10 sea- Regatta Site in Morgan’s this event. financially. “This is going to be like Volleyball, Basketball, Deep son. He appeared in a single Bluff. Along with the sporting “I think that this is what is “I think that this is what their Christmas, their birth- Sea Fishing, Sunfish Sailing preseason game, totalled a events, Octoberfest will have going to make this event suc- builds excitement and makes day, everything in one – and tournaments. Official open- single rebound in just four local food and musical and cessful,” Mr Rodgers said. it different from the other just six weeks before the ing ceremony at 6pm. Con- minutes of action against the cultural performances. “It is not your regular events they might host on the Christmas season,” Mr Hanna cert featuring Ira and the New York Knicks and was Jeff Rodgers, special pro- event, where you have organ- island,” he said. “The folks added. “The people of Spank Band, Geno D and waived on October 22. jects manager/marketing and isers come in, host the event who are going to benefit the Andros really appreciate Elon Moxey. His most notable D-League sales at the Broadcasting Cor- and then move out. What we most from this event are the this.” Saturday, October 29 - achievement came when he poration of the Bahamas, decided to do is to ‘touch people who live right there in Continuation of tournaments. was named to the NBA D- said that they have been host- base’ with all of the folks in Andros. We have a full week- OCTOBERFEST Concert featuring Ira and the League's Select team which ing a number of town meet- the community, let them bring end of activities for everyone SCHEDULE Spank Band, Geno D and competed against some of the ings in North Andros, bring- their ideas to the table, show to get involved in. We believe Thursday, October 27 - Elon Moxey. DJ Competi- league's best rookies and ing the community together them some opportunities that it is going to be a knock- Gospel Concert tion. young talent at the 2010 Las Vegas Summer League. AUGUST ByYOHAN GRAHAM DUNBAR BLAKEbeaten again in the RUNS pole vault, 9.82 PB IN SWITZERLAND AP Sports Writer finishing third after a single CAMPBELL clearance at 15 feet, 1 inch. FROM page 1E ZURICH (AP) — All American Jennifer Suhr won swagger after his gold medal at 15-5. against the Stanford Univer- at the world championships, Yet it was Blake in center sity Cardinals on September Yohan Blake ran a personal- stage just 10 days after he was 10. best 9.82 seconds Thursday to almost unknown to all but An imposing force in the win the 100 meters at the track aficionados. He had won defensive secondary at 6' 3" Weltklasse meet. the gold medal in 9.92 into a and 225 pounds, he registered The 21-year-old Jamaican headwind to set his previous a 4.43 in the 40-yard dash and stumbled slightly out of the season best. a 40-inch vertical jump in post blocks and had no wind assis- Blake's dash in his first indi- spring practice testing. tance on a still night. He beat vidual race since was the In his first full season with his best time by 0.07 seconds. fourth fastest time this year the Blue Devils, Campbell "I knew I had this in me. I without wind. He will run his played in 10 games with two wanted to show people I can final 100 of the season at starts, against inter conference do it and run under pressure," Berlin on Sunday. ACC rivals Boston College said Blake, who seized the Powell was running with a and North Carolina. world title last week in Daegu, hip injury that caused him to Following his position South Korea, after training miss the world championships. change from linebacker to partner Usain Bolt was dis- He led halfway through but safety, he finished the season qualified for a false start. "I stood up straighter in the clos- with 10 tackles, two for losses, feel fast. I feel like I can lift up ing strides as he looked left one quarterback sack and one a mountain, but being a cham- at Blake's winning surge. fumble recovery. Jamaican Yohan Blake wins the 100 yesterday in front of compatriot Asafa Powell (left) and pion that is how you feel." Powell was followed by ON A ROLL: Against Boston College, he Asafa Powell of Jamaica Dix, a worlds silver medallist. Walter Dix (right) during the IAAF Diamond League meeting in Switzerland. (AP) had his biggest highlight reel was second in (9.95) and Wal- Worlds bronze medallist Kim play of his young career when ter Dix of the United States Collins of Saint Kitts and holder ran his season-best South Africa was fifth. silver medallist Melaine Walk- he set the school record for was third in 10.04. Nevis was fifth in 10.09. time of 13.01, as gold medal- Vivian Cheruiyot of Kenya, er into second, with world longest fumble return for a Another young world In the 400, James lowered list Jason Richardson of the who swept the worlds 5,000 champion Lashinda Demus of touchdown with a 95-yard champion to shine in a star- his previous lifetime best from US trailed by 0.09 in second. and 10,000, ran 25 seconds the US third. score. studded Diamond League the Daegu final by 0.24, and "Great satisfaction for me faster than her Daegu time Ngonidzashe Makusha of It surpassed the previous lineup was Kirani James in was just 0.01 outside Merritt's after Daegu," Robles said. winning the 5,000 in 14:30.10 Zimbabwe, the worlds bronze 54-year-old school record of the 400. The 19-year-old from world-leading time. Carmelia Jeter again beat seconds. medallist, won the long jump 77 yards set by Ed Rushton Grenada ran a personal-best "I executed the race per- American teammate Allyson World champion Ezekiel with an opening leap of 26-3. against Pittsburgh in 1956. He 44.36 to repeat his Daegu vic- fectly," said James, dismiss- Felix in the 200, winning in Kemboi won the 3,000-meter Four-time world champion was on the field for 205 total tory over Olympic champion ing talk of a sub-44 run soon. 22.27. World champion steeplchase in 8:07.72, and Dwight Phillips of the US was snaps, including 97 defensive LaShawn Merritt of the US. "I will be happy to run at least Veronica Campbell-Brown of Kenya also took the men's fourth, at 25-10. plays. Other world champions to 44.35 next year." Jamaica was one of the few 1,500. However, gold medal- Dimitrios Chondrokoukis In his freshman campaign, win included Sally Pearson of Merritt lost his world title gold medallists to miss Weltk- list Asbel Kisrop was seventh of Greece had a lifetime best Campbell played in three Australia in the 100 hurdles, by 0.03 last week but trailed lasse. as Nixon Chepseba won in leap of 7-7 to win the high games – at Army, Kansas and Mariya Savinova of Russia in by 0.31 this time. In a thrilling finish to the 3:32.74. jump, and two-time world North Carolina Central – but the 800 and Vivian Cheruiyot Dayron Robles proved a women's 800, Savinova out- Jamaica's Kaliese Spencer champion Robert Harting of missed the remainder of the of Kenya in the women's point in the 110 hurdles after lasted Alysia Montano of the reversed 400 hurdles form Germany won the discus. season due to a shoulder 5,000. his worlds disqualification. US to cross in 1 minute 58.27 after being fourth in Daegu. Christina Obergfoell of Ger- injury and was granted a Yelena Isinbayeva was The Cuban world-record seconds. Caster Semenya of Spencer clocked 53.36 to edge many won the javelin at 228-3. hardship waiver. The 21-year-old left for the US as a baseball player after a promising early career on the diamond in Freeport, Grand Bahama. Campbell starred in base- STILL GETTING UP HIGH, TREVOR BARRY SOARS FOR THE SILVER ball for Christ School in North FROM page 1E to the best of my ability," he said. place finisher for Grenada in Daegu, medallist. Felix clocked 22.40 for sec- Carolina before making the In the men's 400, Brown ran 45.47 was fourth in 45.43. ond. Third went to Jamaican Shelly- transition to football. He was been the winning height tonight. for a fifth place finish behind four Brown is now in third place in the Ann Fraser-Pryce, the Worlds 100 a three-year letterman at Tonight's field was identical to the finalists at the Worlds. Although his Diamond League standings with six fourth-place finisher. American Christ School, three-time all- world championship final." time wasn't faster than the 45.54 he points, the same as fourth place Mer- Shalonda Solomon was fourth in conference and two-time all- Barry is now sitting in ninth place in did for third in his heat, Brown ritt. James leads the pack with 12, fol- 22.63, the same position she got in state selection. the Diamond League points standings improved on his ninth place finish lowed closely by Gonzales in second Daegu. His stellar senior campaign, with four, but his arch-rival Grand overall in the men's semifinal as he with 11. Ferguson-McKenzie is in fourth which led to his signing with Bahamian Donald Thomas finished fell just shy of earning a spot in the place in the Diamond League stand- the Blue Devils, included 91 10th at the bottom of the pile of six final. Step ings with three. A trio of Americans - tackles, four sacks, three fum- competitors at 2.25m (7-4 1/2). He's Grenada's 18-year-old rising star Jeter with 11 in first and both Bianca ble recoveries, two intercep- not listed in the top 11. Thomas, the Kirani James posted an impressive As for the women's 200, Ferguson- Knight and Felix in second and third tions and an astounding four world champion in 2009 in Osaka, 44.36 to secure another win over McKenzie moved up one step with with 10 each - leads the way. defensive touchdowns. Japan, was 11th in the final in Daegu American LaShawn Merritt, but low- her fifth place finish in 22.82. The 35- Fraser-Pryce, Solomon and He helped lead Christ with just 2.25m (7-4 1/2). He domi- ered his own national record in the year-old veteran sprinter was sixth at Jamaican Kerron Stewart are fifth, School to consecutive state nated the previous meetings against process. the Worlds. sixth and seventh respectively with playoff berths in 2007 and Barry, including both the Central Merritt, the worlds’ silver medal- American Carmelita Jeter, the two each. 2008 and his high school American and Caribbean Champi- list, ended up second in 44.67. Worlds 100 champion and 200 silver The next event on the IAAF cal- career totals include 237 tack- onships and the Commonwealth Jamaican Jermaine Gonzales, who was medallist, won the race in 22.27 over endar is the ISTAF (IAAF World les, 16 sacks, seven intercep- Games last year. "Its not all about the fourth in Daegu, came in third in 45.39 her compatriot, Allyson Felix, the Challenge Meeting) in Berlin on Sun- tions, seven fumble recoveries victory over Donald, but competing and Rondell Bartholomew, the sixth Worlds bronze medallist and 400 silver day. and six defensive touchdowns.

PAGE 8E, FRIDAY, SEPTEMBER 9, 2011 TRIBUNE SPORTS

SPORTS LOCAL GOLF PRO NELSON RANGER HOSTS CAMP IN EXUMA CAMP SUCCESS: The 3rd annual Nelson A Ranger Summer Golf Camp was attended by children in Exuma between the ages of seven and 17.

THE CAMP, hosted at Sandals Emerald Bay resort in Exuma, was deemed a huge success by local golf pro Nelson Ranger and the organisers.