02132024 BUSINESS

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TUESDAY, FEBRUARY 13, 2024

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‘Under siege’: Taxis see 50% income fall on crime fall-out

By NEIL HARTNELL

t 4BGFUZ OPU /BTTBV T Tribune Business Editor AMVTUSF BOE CFBVUZ nhartnell@tribunemedia.net UPQ PG NJOE BAHAMIAN taxi drivers are blaming the crime alert fall-out t 6OJPO DIJFG TBZT “for at least” a 50 percent earnANBTTJWF BEWFSTF ings decline, with their union president yesterday blasting: “A FGGFDU PO ESJWFST few criminals have the country t .BSJOBT TFF under siege.”

Wesley Ferguson, the Bahamas DIBSUFST Taxi Cab Union’s president, told DBODFM HVFTUT Tribune Business that all drivers AVODPNGPSUBCMF are “growing tried” of constantly

FNM: ‘Why BPL $184m debt not paid down by fuel hikes?’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE FNM’s finance chief yesterday said he is in the dark over why the proceeds from hiking Bahamas Power & Light’s (BPL) fuel charge by up to 163 percent have seemingly not been used to cut its $184m debt.

Kwasi Thompson, former minister of state for finance in the Minnis administration, told Tribune Business that the Opposition has “very serious questions” over the fact that BPL’s debt to the Government has been reduced by so little compared to the $192.3m peak it hit in March 2023.

The Ministry of Finance’s just-released public debt bulletin shows that outstanding sum was slashed by just $8.3m during the nine months to end-September even though BPL’s fuel charge ‘glide path’, which generated howls of protests from businesses and households due to the triple-digit percentage

KWASI THOMPSON increases imposed on them last summer, was supposed to generate funds to pay this off.

Simon Wilson, the Ministry of Finance’s financial secretary, could not be reached for comment before press time last night.

However, Mr Thompson told this newspaper: “What jumped out at me was the amount that BPL... remember, BPL borrowed that $110m and, at the time, Alfred Sears, who had ministerial responsibility, said

SEE PAGE B3

Two-thirds say Bahamas can end cheques by ‘26

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ALMOST two-thirds of Bahamians believe this nation could be ready for the elimination of cheque payments within the twoyear deadline set by the Central Bank to review its goal.

The banking regulator, unveiling the findings from a survey of 1,030 persons which likely influenced its decision to drop the original end-2024 deadline, said only 8 percent of respondents believed this ambition would require a long-term effort lasting five years.

“An estimated 63 percent of respondents believed The Bahamas could be ready for cheque elimination in less than two years,”

the Central Bank report on the findings disclosed.

“Some 38 percent believed that The Bahamas could be ready in less than 18 months, while 25 percent believe the change could be accomplished within 18 months to two years. Only 8 percent believed that a timeline of more than five years would be required.”

The Central Bank last year announced it had abandoned its original target of eliminating paper cheque use by year-end 2024 because “a compelling fraction” of Bahamians need more time to adjust, its Governor affirmed.

John Rolle, in a brief statement responding to Tribune Business questions, after the banking regulator disclosed the initial timeline

SEE PAGE B2

having to reassure tourists they are safe in this nation with their “main conversation” constantly focusing on the crime situation following the recent murder spike.

Explaining that his members are unable to focus on highlighting “the lustre and beauty of New Providence”, he added that the impact from saturation international media coverage surrounding the status of US and Canadian crime advisories on The Bahamas was “having a massive adverse effect” on the

desire of tourists to take taxi rides around the island.

Mr Ferguson told this newspaper the call-up system at Nassau Cruise Port has been adjusted to ensure all drivers “get at least one fare” given that many passengers are either remaining on board the vessel while in port or only “venturing out” into Bay Street and downtown Nassau.

Amid shrunken tour-related fare income, he predicted that the upcoming Spring Break season

SEE PAGE B4

WESLEY FERGUSON

PETER MAURY

Hotel chief ‘comfortable’ targets hit despite crime alert warnings

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas Out Island Promotion Board’s president says he “feels comfortable” that his hotel will grow and meet its 2024 financial targets despite the crime alert fall-out impacting the industry.

Emanuel “Manny” Alexiou, also the Abaco Beach Resort’s proprietor, told Tribune Business his property is still aiming to increase room rates by 5-6 percent this year to offset lingering inflationary pressures as he voiced optimism that Abaco’s high-end, repeat visitor base will help insulate it from any negative travel advisory effects.

“I can’t speak for all the other Family Islands,” he said. “All I can say is that Abaco has a lot of repeat visitors, a lot of second

t 1SPNPUJPO #PBSE IFBE PQUJNJTUJD PO "CBDP #FBDI HSPXUI t 4BZT SFQFBU XFBMUIZ WJTJUPS CBTF JOTVMBUFT GSPN GBMM PVU t 5PVSJTU ADVUT PVU /BTTBV UP nZ EJSFDUMZ JOUP &MFVUIFSB homeowners, and a lot of wealthy clients who form their own opinions and know Abaco. It will probably be more of a deterrent to newcomers who have never been here before, and question the seriousness of it.

“Of course, The Bahamas is 16 island destinations and all are labelled under The Bahamas brand, so it’s obviously going to have some effect.” Mr Alexiou said The Bahamas needed to draw on its post-Hurricane Dorian response and let the travel community know it feature

16 separate destinations, with the crime woes largely confined to just one of those.

Suggesting that “obviously The Bahamas has to do more” to counter the negative and misleading perceptions created by saturation media coverage of the crime situation in the US and elsewhere, he added that “it could be detrimental” if such reporting persists and continues to be widespread across major tourism source markets.

“That’s the most detrimental part of it,” he

reiterated, “but I do not think Abaco is going to be affected by anything like that too much. We have a lot of repeat business. One good thing about second homes as a tourist destination is people have a vested interest in coming back because they have an asset.

“They know better what is going on, but I can see where it could affect someone staying in a hotel property. The fact the coverage may be playing over and over and over again is more concerning. That’s the big concern. How wide it gets and how long it lasts. But I feel comfortable we’ll grow and still make our budget.”

Mr Alexiou’s optimism in Abaco’s resilience and ability to withstand the crime-related coverage presently battering the

SEE PAGE B3

Veteran carpenter loses his $137,280 CGT claim

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CARPENTER has lost his $137,280 wrongful and unfair dismissal claim against a major Bahamian contractor for whom he worked at regular intervals over 32-and-a-half year period.

Sharada Ferguson, the Industrial Tribunal’s vice-president, ruled in a February 8, 2024, verdict that Emelcha Brown’s claim against CGT Contractors and Developers must be dismissed in its entirety because the evidence showed he was never continuously employed between July 1988 and February 2021.

Instead, due to the stop-start nature of the construction industry he was employed on a series of fixed-term contracts to work on specific building projects and released when his services were no longer required.

Mr Brown’s National

Insurance Board (NIB) records showed multiple breaks in his employment records with CGT, with the longest lasting “over a year”.

However, in demanding wrongful and unfair dismissal compensation, Mr Brown - who rose from starting as a “helper” to “become a skilled carpenter” - denied that he was ever laid-off or terminated

by CGT. The dispute that ended a more than three decade relationship with the contractor occurred after he was hired to work on Commonwealth Bank’s new Abaco branch post-Hurricane Dorian.

Entitled to $14.30 per hour wages, he was hired to work on the project on November 29, 2019. Then, on February 11, 2021, Mr Brown took a week’s vacation and travelled from Abaco to New Providence while the COVID pandemic was still raging.

Requiring a COVID test to return to Abaco, he

SEE PAGE B4

PAGE 2, Tuesday, February 13, 2024

THE TRIBUNE

BAHAMASAIR opened its city ticket office in the Southwest Plaza, Carmichael Road, on Friday, February 2, 2024. Pictured is director of aviation and deputy director-general of tourism, Dr Kenneth Romer, addressing officials and invited guests.

Photos:Kemuel Stubbs/BIS

Bahamasair shifts its main ticket office to Carmichael BAHAMASAIR has relocated its city ticket office from Palmdale to the Southwest Plaza to better cater to the ever-expanding population in the Carmichael area. r Kenneth Romer, director of aviation and deputy director-general of Tourism, speaking at the new office’s opening earlier this month, said: “Bahamasair continues to prove to be one of our greatest assets. I assure you of our support and that of the deputy prime minister (Chester Cooper).”

Dr Romer added that the move is aligned with some of the elements in the National Aviation Strategic Plan.

This emphasises strengthening financial resilience by developing Bahamasair’s business model, growing existing markets and exploring new routes to underserved and emerging markets.

It also speaks to the airline pursuing additional

sources of revenue and lessening its dependence on taxpayer subsidies to finance its operations.

Then there is operational efficiency, with Dr Romer noting that Bahamasair has been developing its strategic planning to ensure a leaner and more efficient operation.

He added that Bahamasair’s recent partnership with Qatar Airways, through a consultative exchange, would undertake a comprehensive overview of all aspects of the Bahamian flag carrier’s operations. “Nobody could do it like Bahamians and nobody does it better than Bahamasair,” said Dr Romer.

“We must explore ways to do it better, and be better, by putting a greater emphasis on customer satellite satisfaction and the urgency in resolving problems that will arise. Customers must remain the priority, alongside safety.”

OFFICIALS tour the newlyopened Bahamasair’s city ticket office in the Southwest Plaza, Carmichael Road, on Friday, February 2, 2024.

Pictured are Anthony Miller, board member; Dr Tyneil Cargill, board member; Melony Rahming, board member; Dr Kenneth Romer, director of aviation and deputy directorgeneral of tourism; Tanya Pratt, chairman, board of directors, Bahamasair; Dwayne Davis, Bahamasair deputy chair; Tracy Cooper, Bahamasair managing director; and Apostle Raymond Wells.

A final strategy involves enhancing human capital development.

Dr Romer said: “Bahamasair will play an integral role in advancing our strategy to develop existing and emerging aviators, succession planning, advancing the role of women, and

creating a system of mentorship that includes using retired professionals as mentors.”

Tracy Cooper, Bahamasair’s managing director, said: “The decision to relocate the CTO from Palmdale to Carmichael Road was a very careful and deliberate

consideration. One of the key factors in the decision was to ensure that our new location would not only cater to the business community but also provide a convenient and accessible service point for our valued residents.

“In that regard, Carmichael Road - often referred

to as City 2000 - emerged as the ideal choice, offering a host of amenities and the perfect alignment with the needs of Bahamasair. We firmly believe that this new CTO will not only serve as the gateway to our exceptional airline services but also as a symbol of our dedication to enhancing the travel experience for everyone in The Bahamas.”

Managing director named for Mortgage Corporation THE Bahamas Mortgage Corporation (BMC) has named financial services veteran, Robert C. Cox, as its managing director with effect from January 22, 2024.

Barbara Cartwright, the Corporation’s executive chair, said: “The Board of Directors is happy to have Robert join the team. He built an extensive career in the financial services industry, primarily retail and commercial banking, working throughout The

Bahamas and the Caribbean region.

“His experience is a welcome addition to the Bahamas Mortgage Corporation as we further streamline our financial and operational performance to better assist Bahamians with home ownership.” The Corporation said Mr Cox has more than 35 years’ experience in financial services - and particularly the banking industry.

He has worked in credit risk, client credit

Two-thirds say Bahamas can end cheques by ‘26

management, collections, business development and management information systems. Mr Cox holds an associate degree in computer programming, a Bachelor’s in management information systems and a master’s in international business.

“I hope to significantly impact the future of the Bahamas Mortgage Corporation by effectively and efficiently carrying out mandates and initiatives to notably reduce expenses,

improve the processing time and quality of credit underwriting, increase new loan disbursements, improve customer service and, more importantly, reduce the number of nonperforming loans,” Mr Cox said.

The Bahamas Mortgage Corporation said its present mortgage portfolio is worth more than $215m, and covers over 2,500 loans. It employs 60 staff at its headquarters in the Ruth Millar

Administrative Complex on East Hill Street.

It was established in 1983 as a wholly government-owned entity to provide mortgage loans that will assist persons to purchase, construct or rehabilitate their residential premises. The Corporation also provides financing for the purchase of land and the construction of housing units and similar projects, particularly those initiated by the Government.

ROBERT C COX

FROM PAGE B1

“There was a compelling fraction of the public who wanted more time to transition away from cheques.

The Central Bank and financial institutions will provide more details on what the interim milestones are that are being targeted for progress on payments system developments,” he said.

The Central Bank, in a release on the issue, said the deadline shift resulted from a “consensus” among members of the Steering Committee appointed to oversee the transition away from cheques that more time is needed to ready and educate Bahamians. The delay will also give Bahamian commercial banks and other financial providers more time to better roll-out the digital payments infrastructure that will replace cheques as a means of settling transactions.

The survey results, meanwhile, revealed that “just 1 percent of Bahamian residents reported (personal) cheque use in the six months prior”. The Central Bank added: “Of individuals surveyed, 8 percent reported using a cheque for payment in the previous 12 months. This

represented a significant decrease compared to the 20 percent of persons who had reported cheque usage in a previous study” in 2020.

It added: “The rate of cheque usage was greater amongst older individuals (35 years and over) compared to their younger counterparts. Also, the usage rate increased for persons disclosing higher annual household incomes, at 7 percent for those in the category $30,000 to $60,000 per annum versus 13 percent for those making $60,000 or more per year.

“Meanwhile, 13 percent of those identified as business owners reported using cheques for payment in the previous 12 months... The most common items paid for via cheque were utilities, insurance, rent/mortgage and professional services.

These items tend to be costlier, semi-regular payments.

“Individuals reporting an annual income of less than $30,000 were more likely to use a cheque to pay for utilities than any other item. Middle-income earners mostly used cheques for professional services, housing, insurance and large consumer goods. Top income earners most frequently used cheques for the payment of rent or mortgage, small consumer goods, professional services, and entertainment.”

While the majority of cheque users, some 84 percent, said they used the instrument because it provides proof of payment, 87 percent of total survey respondents added “that

cheque elimination would not impact them directly, although business owners reported the highest perceived personal impact.

“Further, 22 percent of respondents believed cheque elimination would impact someone familiar to them. The survey results indicated that 54 percent of individual respondents were against cheque elimination. Interestingly, when assessed by income level, top-earning respondents appeared slightly more in favour of elimination,” the Central Bank said.

“According to the survey results, cash remained the payment instrument most commonly used in The Bahamas. Following this, indications are that debit cards are the next most common instrument used, trailed by credit cards and electronic fund transfers. Cheques usage paced behind electronic instruments, but still significantly ahead of mobile wallets.

“While most surveyed individuals did not believe that they would be directly impacted by cheque elimination, a greater fraction of such respondents predicted that someone familiar to them would be impacted.

Meanwhile, preference for continued cheque usage registered slightly higher among those who identified as including business owners.”

has been “deferred” and will now be “reassessed” in 2026, explained that the change had resulted from feedback provided by the public and businesses.

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Tuesday, February 13, 2024, PAGE 3

VENDORS SECURE FOR FURTHER JUNKANOO BEACH UPGRADES

By FAY SIMMONS Tribune Business Editor jsimmons@tribunemedia.net A GOVERNMENT senator yesterday pledged that no existing vendors will be displaced when the project to revive and upgrade Junkanoo Beach begins in the 2024 first quarter.

Randy Rolle, also the Ministry of Tourism, Investments and Aviation’s global relations consultant, said a staged approach to the revitalistion will be undertaken so as to minimise disruption for vendors and tourists alike.

Speaking in Senate, the head of the Downtown Nassau revitalisation efforts

SENATOR RANDY ROLLE said: “I am also proud to announce that there is forward motion to begin the revitalisation of Junkanoo Beach.

“Groundbreaking is scheduled for the first

quarter of this year. I would like to take this time to note that none of the current vendors will be displaced as this project will be rolled out in a phased approached, starting from the western end of Junkanoo Beach to the eastern end.”

Mr Rolle said there are plans to demolish another building downtown once the necessary order has been received, while the sites of already-torn down buildings such as the former Gaming Board headquarters will be converted into green spaces or allocated “for the establishment of new and promising businesses”.

He added: “The Ministry of Tourism has effectively

carried out the demolition of several dilapidated buildings in the city centre, addressing not only their unsightly appearance but also the associated problems of vagrancy, crime and health risks. Among these structures was the former Gaming Board building, with plans underway for the demolition of another building pending receipt of the necessary demolition order.

“Given that there are now vacant lots, the Ministry’s objective is to either convert them into green spaces or allocate them for the establishment of new and promising businesses. The selection process for vendors interested in these lots

Hotel chief ‘comfortable’ targets hit despite crime alert warnings FROM PAGE B1 wider Bahamas was shared

by Daphne DeGregoryMiaoulis, the island’s Chamber of Commerce president.

“Negative press of any kind will inevitably affect people’s choices, but honestly I don’t think it will factor significantly on arrivals to Abaco,” she said.

“More impact, I guess, will be felt in New Providence.”

Mr Alexiou, meanwhile, voiced confidence that is and other Family Island hotels will benefit from increased airlift and tourist access in 2024 as well as promotional activities marketing The Bahamas in general.

“There’s definitely an increase in airlift, so access to the Family Islands is easier, and if The Bahamas continues to advertise as it has been...,” M Alexiou added. He pointed out that, with New Providence resorts running out of rooms to accommodate visitor demand, the country’s best tourism growth opportunities lie in the Family Islands where resorts typically run average occupancies of 45-50 percent.

Ben Simmons, proprietor of the Ocean View and The Other Side properties on Harbour Island and mainland Eleuthera, told Tribune Business that apart from one guest opting to fly directly to the island rather than transit through Nassau and “a handful of

e-mail” inquiries there had been minimal to no impact from the travel advisory coverage.

“No impact or fall-out,” he replied. “The only reaction we had was a handful of e-mail inquiries confirming we are nowhere near Nassau. We’ve told them we are nowhere near Nassau and, locally, we are not seeing the same level of activity. One guest changed their flight to bypass Nassau, abandoned their stop in Nassau, and came directly here to north Eleuthera.

“We’ve sort of reiterated when these questions come up that the location is different. It’s just curiosity to see if there is any update to the crime spike, so to speak, and just confirming we’re not located near Nassau.

The news is definitely out there but, by and large, most people understand The Bahamas is a collection of islands and there’s certainly a fundamental difference between each one.”

Mr Simmons, though, added: “It’s always concerning. What happens in our capital is only one flight away. If guns are being drawn and bullets are flying, it’s a concern.

It’s just a matter of where it happens. We’re a relatively small country. I just hope it remains in the capital and whatever needs to happen from a policy standpoint addresses it.

“I don’t think it’s going to make a difference. Our

clientele is pretty knowledgeable of the destination, many of them are looking for a niche boutique hotel and that’s what we’re catering too. I don’t think it’s going to impact us at all, fingers crossed.”

Thomas Sands, Eleuthera’s Chamber of Commerce president, similarly told Tribune Business that while the island’s private sector is concerned about the travel advisoryrelated media coverage he has not “got any evidence” that it has had a tangible impact on visitor arrivals and tourism-related businesses.

“I think there’s general concern by Bahamians that it could impact us as a country,” he added. “We don’t know how. I think those of us who live in the Family Islands are relieved we don’t live in the city, but if something happens in the city it’s likely to impact one of the islands at some point.

“It’s more a level of concern. We are concerned as to where this is leading us is a broader kind of discussion we’re having. Americans and Europeans say that coming to Eleuthera is totally different from going to Nassau. The bulk of our client base is coming to Eleuthera to explore a different environment. It’s a different client base but, at the same time, what does this all mean long-term?

How does this impact long-term? I hope we get it under control.”

No tourists have been involved in or impacted by the recent New Providence murder spike, with all killings occurring away from the hotel areas.

Tourism executives and government officials have been at pains to point out that The Bahamas’ has not been downgraded by the US as the latter’s travel advisory has remained at ‘level two’ since 2022.

Instead, the US merely urged its citizens to take care - and be aware of - the recent spike in murders in New Providence with the 25th and latest killing taking place yesterday.

However, this has received extensive media coverage in New York and the north-east, which is the primary tourist source market for this nation, as well as across the US with much of the reporting giving the impression - described

by The Bahamas as a “misinterpretation” - that the travel advisory has been elevated.

It has featured on major TV networks, such as NBC, ABC and CNN, as well as in newspapers including the New York Times, Washington Post and USA Today.

The New York Post told Americans to “think twice about a tropical getaway to the Caribbean this winter”, adding: “Safety concerns have reached a point of severity where US officials say people shouldn’t even try to ‘physically resist’ being robbed.”

FNM: ‘Why BPL $184m debt not paid down by fuel hikes?’

FROM PAGE B1 the fuel charge was being increased to pay back those amounts the Government loaned to BPL. “What we saw, although the [light] bill went up and the fuel charge went up to the complete detriment of the public, the monies don’t seem to have been repaid.

We have very serious questions with respect to this.

That is very troubling.”

Mr Sears, then-minister of works and utilities, on Wednesday, October 5, 2022, confirmed that BPL’s fuel charge was being increased to both pay back the Government’s loan to the state-owned electricity provider and clear debts owed to its fuel provider, Shell. Laws and regulations passed in 2020 require that the fuel charge by used solely to cover BPL’s fuel expenses as a pass through to consumers.

“The Government has been assisting BPL through various financing mechanisms to cover the arrears owing by BPL to Shell,” Mr Sears told the House of Assembly then. “A firm arrangement has now been arrived at whereby as of October 1, 2022, the Government will make a monthly subvention of $10m to Shell to be applied to BPL’s arrears.

“This arrangement will continue to June 2023. It is important to note that BPL, as it has been doing, will continue to meet current charges from Shell.

The net effect of these

arrangements will be the elimination of arrears, while remaining current with payments for fuel from Shell.”

Mr Sears branded the economic and financial pain that BPL’s fuel hikes would cause as “a necessary sacrifice to achieve the objective of energy independence and greater reliance on renewables; to give BPL a chance to modernise its operations and to improve the competitive index of The Bahamas so that the cost of doing business in our country is less burdensome and more attractive”.

Describing BPL as being “on the precipice of financial fall-out if we do not act immediately to align the fuel charge with current global oil prices”, Mr Sears said the utility is now “at a crossroads” after diesel fuel prices jumped by some 100 percent.

“We are cognisant that an increase in the fuel charge may not be popular at this time,” he added. “However, I assure you that deferring it or refusing to do it will create greater hardships down the road or, worse case scenario, result in the catastrophic failure of BPL - something no right-thinking Bahamian could ever consider.”

Mr Thompson, though, in a statement issued yesterday, said the figures relating to BPL’s loans and debts in the latest Ministry of Finance publication “raise critical unanswered issues

BAHAMAS POWER & LIGHT’S (BPL) that the Government must address.

“Primarily, this administration must come clean and explain why, after doubling and tripling the BPL fuel charge this past year, little of those funds have been applied to pay down the loan to BPL that was supposed to be paid off by the spike in the fuel charge,” he argued.

“Minister Sears, then responsible for BPL, told the Bahamian people in February of last year that the $150m in loans to BPL to pay off fuel arrears would be ‘repaid from the funds recovered via the fuel surcharge’. According to the Government, that was a part of the reason why the fuel charge had to increase by up to 163 percent.

“After taking massive sums in additional fuel charge from struggling Bahamians, the report indicates that BPL’s indebtedness to the central government has remained virtually unchanged since the imposition of the fee hike, despite collecting tens of millions of dollars from Bahamian consumers

expressly for that purpose,” Mr Thompson continued.

“Bahamians are left to demand: What did BPL do with the funds that were supposed to pay off this loan from the taxpayers?

Or, if BPL paid it, what did the Government do with the funds?.. It is inexcusable that, after more than a year, we do not know the details of the loan transaction.

Bahamians have struggled to pay the surcharge so why should we be left to guess and speculate where the money went?”

Mr Thompson also queried the $249m line of credit that the Government accessed from Deutsche Bank in September. “Yet again, although this new foreign overdraft was done in December, yet again, the Government..... did not tell the Bahamian people the interest rate, terms and conditions of this line of credit,” he added.

“Where did the proceeds go? Is it a short-term or long-term facility? Was any portion of the IDBsupported $500m loan used to pay back any advances from the credit line?

will be conducted with careful consideration, ensuring that the chosen businesses positively contribute to the local community.”

Mr Rolle added that the pedestrianisation of Market Slope is still planned, and will increase tourist foot traffic downtown and drive visitors to nearby vendors.

He said: “Another project we have on deck is the pedestrianisation of Market Slope.

“The Ministry is spearheading the effort to revitalise the city centre and bolster economic vitality by implementing pedestrianisation measures on Market Slope. This endeavour seeks to elevate pedestrian flow, thereby fostering

commercial activity and nurturing the expansion of the orange economy.”

Many visitors, including the up to 30,000 passengers that pass through the Nassau Cruise Port daily, stroll down Bay Street but many complain about the city’s condition, cleanliness and the lack of activities. The downtown revitalisation project aims to give Bay Street a facelift through the installation of pedestrian zones, a business incubation centre, green spaces, a cultural village and other initiatives.

DIGITAL KIOSKS TO BOOST NASSAU SECURITY AND VISITOR EXPERIENCE

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net DIGITAL kiosks will be installed in downtown Nassau to boost security and help tourists better navigate Bay Street and the surrounding area, a government senator disclosed yesterday.

Mr Rolle, who heads the downtown Nassau revitalisation efforts, said the Ministry of Tourism will be using technology to ensure criminal behaviour is detected “swiftly and effectively”.

Speaking in the Senate, he said: “As a matter of fact, we will be placing digital kiosks in the city centre. The integration of digital kiosks within the city centre brings forth a myriad of benefits that extend beyond mere convenience for tourists.

“These kiosks, equipped with cutting-edge technology, serve as invaluable tools in enhancing both security measures and the overall visitor experience.”

Mr Rolle, also the Ministry of Tourism, Investmenyd and Aviation’s global relations consultant, explained that the kiosks will be fitted with surveillance cameras and artificial intelligence analytics - such as facial recognition software - to identify persons of interest to authorities.

He said: “Firstly, the inclusion of digital kiosks reinforces our commitment to leveraging advanced technological solutions to address crime effectively.

With features such as surveillance cameras and artificial intelligence-driven analytics, these kiosks serve as an additional layer of security, aiding in the monitoring and deterrence of criminal activities within the city centre.

“By deploying these kiosks in regularly traversed areas, we augment our ability to detect and respond to criminal behaviour promptly, thereby fostering a safer environment for residents and

visitors alike. Furthermore, the incorporation of facial recognition technology, as mentioned, adds another layer of security by enabling swift identification of individuals of interest.

“While respecting privacy concerns and ensuring compliance with relevant regulations, this feature enhances our ability to identify and address potential security threats effectively.” Mr Rolle said the digital kiosks will be interactive and add to the overall tourist experience by providing directions to popular historic, cultural and heritage sites while also offering suggestions for nearby activities.

The kiosks will also gather data on visitor preferences and behaviours so that the Ministry of Tourism can improve their experience.

Mr Rolle said: “Moreover, beyond their security functionalities, digital kiosks offer a plethora of services aimed at enhancing the experience of our guests. From providing directions to popular attractions to offering personalised suggestions based on individual preferences, these kiosks serve as invaluable guides for tourists navigating the city centre.

“Additionally, through data intake capabilities, these kiosks enable us to gather valuable insights into visitor preferences and behaviours, empowering us to tailor our tourism initiatives to better meet their needs.

“The deployment of digital kiosks within the city centre represents a holistic approach to enhancing both security measures and the visitor experience. By leveraging advanced technology, we not only strengthen our ability to combat crime but also provide invaluable support and guidance to tourists, ultimately fostering a safer, more welcoming environment for all.”

PAGE 4, Tuesday, February 13, 2024

THE TRIBUNE

‘UNDER SIEGE’: TAXIS SEE 50% INCOME FALL ON CRIME FALL-OUT FROM PAGE B1 is “not going to be very robust” unless The Bahamas quickly gets a grip on crime and the resulting public relations damage that is creating the perception internationally that this destination is no longer safe.

Both the Government and private sector have branded global media coverage as inaccurate and misleading, especially as the US ‘Level Two’ travel advisory on The Bahamas was not elevated or downgraded and remains unchanged from previous. Instead, the US only advised its citizens to take care given the recent spike in gang-related murders on New Providence.

However, Mr Ferguson warned that the entire tourism industry will soon “feel the pinch” if nothing is done to correct these impressions of The Bahamas, adding that activity and passenger numbers at Lynden Pindling International Airport (LPIA) are “a far cry” from what taxi drivers enjoyed during the same period last year.

“We are having a tremendous fall-out for the taxis as a result of these travel advisories levied against The Bahamas,” the taxi union president told Tribune Business. “Even at the docks [Nassau Cruise Port], where the majority of tourists come in, we had to adjust the taxi call-up system so people get at least one fare a day.

“Tourists are turning down a lot of taxi drivers not to go on tours. They don’t want to go on tours or go through the inner-city.

The majority of persons are

staying on the cruise ship or only venture downtown so it’s having a massive adverse effect on taxi drivers’ income. They [tourists] don’t want to venture far from the cruise port.

They’re expressing their concerns and their fears are being mentioned to the drivers.”

Tours are often the most lucrative form of income for taxi drivers because they last longer and cover greater distances, thereby enabling them to charge higher fares. Mr Ferguson, though, said many drivers were seeing “regular clients” - for whom they provide transportation services throughout their stay in The Bahamas - cancel their winter tourism season bookings due to crimerelated concerns.

“We’ve had a lot of cancellations for taxi drivers that have regular clients,” Mr Ferguson explained.

“People come at this time of year and use them as their personal taxi drivers.

A lot of those people are calling and saying they are cancelling those bookings.

“The drivers are basically experiencing a lot of fallout, experiencing a lot of fare cancellations, and a lot of tourists are fearful of getting taxis period. It’s a big effect. It has to be the entire taxi industry. There are a lot of people cancelling who are supposed to have preagreed bookings with the taxi drivers. They cancelled their trip as a result of the advisory.

“Everybody’s feeling the effects whether they have a booking or walk-up customer. The entire industry is feeling the fall-out. No one is exempt from it. Even

the few taxi drivers fortunate enough to persuade tourists to get in their car, the main conversation is the crime conditions in The Bahamas,” Mr Ferguson added.

“We have to reassure them it is safe. The drivers are getting tired of having to explain the crime situation instead of the lustre and beauty of the island. It’s a very, very negative effect on the tourism industry. We hope it’s resolved quickly, but if it doesn’t get better it will get worse.

“All of us have to remember Spring Break is coming up, and I don’t foresee us having a very robust Spring Break season because of crime. Those US parents, if not coming themselves, will be very reluctant to send their children to a country that is crime-ridden. If business does not turn around quickly, I don’t foresee a robust Spring Break.”

As a result of all this, Mr Ferguson estimated that the average income for taxi drivers “has dropped off at least 50 percent”. He added that the slowdown was being especially felt at the industry’s two main business sources, namely the Nassau Cruise Port and LPIA. “The hotels are going to be feeling the pinch in short while,’” the taxi union chief said. “They are trying to hold it off but will be feeling the pinch. The airport is not as busy as in previous years. To compare this year with last year, it’s a far cry from what we had last time.

“All of us are going to feel the pinch in a little while. It seems to be that the criminals have taken over the country. The

Government seems to no longer be in control, the police no longer seem to be in control. A few criminals have our country under siege.”

No tourists have been involved in or impacted by the recent murder spike, with all killings occurring away from the hotel areas.

And The Bahamas has pointed out that this nation is likely just as safe, or even safer, than many cities in the US and other countries that have been issuing travel warnings against this nation.

However, the situation received extensive media coverage in New York and the north-east, which is the primary tourist source market for this nation, as well as across the US with much of the reporting giving the incorrect impression that the travel advisory on The Bahamas has been elevated.

It has featured on major TV networks, such as NBC, ABC and CNN, as well as in newspapers including the New York Times, Washington Post and USA Today.

The New York Post told Americans to “think twice about a tropical getaway to the Caribbean this winter”, adding: “Safety concerns have reached a point of severity where US officials say people shouldn’t even try to ‘physically resist’ being robbed.”

The impact is also being felt by Bahamian marinas, and the boating/yachting industry. Peter Maury, the former Association of Bahamas Marinas (ABM) president, last night told Tribune Business that one client had informed him it was cancelling its

charter season in this nation because its guests had been unsettled by media coverage of the crime situation and travel advisories.

“We were talking about that in our marina chat group,” he said. “People are worried about coming to The Bahamas because of what’s going on. We had a boat cancel their charter season because of this.

They said their guests don’t feel comfortable being here. We’re fighting to get guests into the country, and this doesn’t help, that’s for sure. Everyone is talking about it.”

Mr Maury likened global media coverage to what happened when Hurricane Dorian struck Abaco and Grand Bahama in September 2019, as it gave the misleading impression that the Bahamas had been “wiped out” when 14 of its 16 island destinations were not impacted.

“People don’t want to take any chances and I don’t blame them either,” he added of the present situation. “We say ‘come visit us in The Bahamas’ and something happens. It is what it is. I don’t know how they’re going to sort this out but it’s a mess. Amongst ourselves as the operators everybody’s kind of heard the same thing from people and are generally citing the same concerns.

“I think everybody’s going through it. I can’t imagine the hotels and Airbnbs not getting the same questions. If you go on vacation, why go on vacation to somewhere where there are warnings all over the place. I think everybody in hospitality

Veteran carpenter loses his $137,280 CGT claim FROM PAGE B1 tested positive for the virus and was informed of the results by Chacarvia Cox, CGT’s office administrator, on February 16, 2021.

Under the regulations in effect at the time, Mr Brown was required to quarantine or isolate himself for 14 days until March 3, 2021. “It was alleged by Ms Cox that during two telephone calls with the applicant on February 16, 2021, he cursed her out,” Ms Ferguson wrote in her verdict.

“The incident allegedly concerned the applicant’s positive COVID-19 results and allegations that he made about the results coinciding with his request for a pay rise whilst in Abaco. Ms Cox reported the incident to Larry Treco,

managing director of the company.”

While Mr Brown paid for his ‘negative’ COVID test on March 10, 2021, he did not return to Abaco and the Commonwealth Bank project was completed by other carpenters. He met Mr Treco on March 31, 2021, who raised the “disorderly conduct toward Ms Cox” but Mr Brown denied using obscene language.

Subsequently, he was offered on April 9, 2021, the chance to work on construction of AID’s new Blue Hill Road store. “The job form, however, contained no details about the salary and the applicant refused to sign the form. The applicant is admittedly unable to read,” the Industrial Tribunal noted.

“On the same date, a warning letter pertaining

to the alleged February 16, 2021, incident with Ms Cox was given to the applicant.

The applicant refused to sign or formally acknowledge receipt of the letter and Mr Treco was informed about the applicant’s refusal to accept the letter.” His tools were returned to him, and Mr Brown received no more work from CGT. Instead, he filed a trade dispute with the Department of Labour on June 15, 2021. Mediation failed, and Mr Brown’s claim for wrongful and unfair dismissal was referred to the Industrial Tribunal that August. CGT’s defence, though, was that he was never terminated and, with the Commonwealth Bank project having ended, he simply refused to work on the AID store. It also

denied that Mr Brown was a permanent worker.

Ms Ferguson found Mr Brown “to be not credible in his testimony in some material particulars and recollection of events” when the dispute was tried before her. “Quite remarkably, the applicant in one instance even outright disagreed with the accuracy of details contained in his own witness statement,” she wrote.

It also emerged that Mr Treco and his brother, Wayne, met with Mr Brown shortly after efforts to reconcile the dispute failed.

“Mr Treco testified that shortly after the July 20, 2021, conciliation meeting he telephoned Mr Brown to invite him to a meeting with him and his brother, Wayne,” the Industrial Tribunal ruling noted.

“Mr Treco testified that the three men met, and that the purpose of the meeting was to discuss namely where this was going and possibly put a nuisance value offer to him.” Mr Treco said: “I remember my brother asking Mr Brown how much money he wanted to settle for, because we were not prepared to pay $137,280.”

Ultimately, Ms Ferguson found that Mr Brown had failed to prove “on a balance of probability” that his series of multiple fixedterm contracts for specific construction projects amounted to continuous, full-time employment by CGT. This was contradicted by his NIB records which “overwhelmingly reveal inexplicably wide gaps or breaks for as

is facing the same circumstances. What can you do?

“You can tell them it’s isolated in certain areas.

It’s a tough one. You almost don’t know what to say because if they do come and something happens....

Most marina operators I’ve spoken to have similar concerns. We’re all getting the same questions. We try to give them the right information, but when they have high-end clients they have to be concerned about...

We’re dealing with the fall-out.”

Vacation rentals are more vulnerable to travel alerts and crime advisories because they are often located outside traditional tourist and hotel zones, and therefore have less security and persons around, while also being based in or near areas suffering criminal activity.

Bruce Raine, who recently switched from the New Providence vacation rental space to long-term leases, told Tribune Business: “I think Airbnbs and vacation rentals are going to take a hit if we cannot get it quieted in a reasonable space of time. Airbnbs are everywhere. They don’t have to come here or go to our Family Island as they do.

“If we don’t deal with it quickly we’re going to be in trouble as is the general economy. The economy is not just one item; there are many people involved in the economy... It’s unsettled everybody. It’s crazy.

People are scared everywhere. They’d better move quickly; that’s all I can say.” long as a year-and-a-half in one instance” in his contributions.

“The Tribunal finds that the many large gaps or breaks in employment appear genuine and are more suggestive of noncontinuity of employment and accords more with the respondent’s evidence that the applicant was employed on a project-by-project basis and not permanently,” Ms Ferguson wrote.

“The applicant has provided no plausible alternative explanation for the large gaps or breaks in employment. Based on the evidence, the applicant’s vehement insistence that he has worked for the respondent 33 years uninterrupted is quite simply not true and the Tribunal rejects such a claim.” Due to this finding, the claim for unfair and wrongful dismissal also melted away.

New NATO member Finland elects a president set to keep up hard line on neighboring Russia

By JARI TANNER Associated Press FORMER Prime Minister Alexander Stubb has narrowly won a runoff vote to become Finland's next president, who will steer security policy that includes integrating the new NATO member into the alliance at a time of concern over Russia's invasion of Ukraine.

The final tally from Sunday's runoff shows Stubb,

of the center-right National Coalition Party, had 51.6% of the votes, while independent candidate and former Foreign Minister Pekka Haavisto from the green left got 48.4% of the votes. The two were the top vote-getters in the second round of the election. Haavisto had served as Finland's top diplomat in 2019-2023.

Stubb is taking over from the hugely popular

LEGAL NOTICE

BB Global Fund Ltd. INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000) In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), that BB Global Fund Ltd. (Registration no. 204449 B is in dissolution. The date of commencement of the dissolution is the 15th day of December, 2023. The Liquidator of the Fund is Crowe Bahamas and can be contacted at Harbour Bay Plaza, Shirley Street, Suite 587, P. O. Box AP-59223, Nassau, Bahamas. Email andrew.davies@crowe.bs.

All persons having claims against the above-named company are required to mail and email their names, addresses and particulars of their debts or claims to the Liquidator before 29th day of February, 2024. ________________ Crowe Bahamas Liquidator

President Sauli Niinistö, whose second six-year term expires next month and who wasn't eligible for reelection.

A runoff was required after none of the original nine candidates got a majority of the votes in the first round on Jan. 28. In tradition with consensusdriven Finnish politics and no below-the-belt attacks during the campaign, Stubb visited Haavisto's election party event late Sunday after the result was clear.

"You're one of the nicest people I have ever met," Stubb told his opponent Haavisto at the party event, according to Finnish broadcaster YLE. The presidency is a key political post in this northern European country of 5.6 million people. Unlike in most European countries, the president of Finland holds executive power in formulating foreign and security policy together with the government.

But he is also expected to remain above the fray of day-to-day politics and stay out of domestic political disputes while acting as a moral leader of the nation.

The head of state also commands the military — a key role after Finland joined NATO in April 2023 in the aftermath of Russia's attack on Ukraine a year earlier. Finnish media

outlets on Monday pointed out how Europe's security is at stake as never before since World War II, due to Russia's invasion.

At a news conference in Helsinki, Stubb was asked

by The Associated Press to assess the state of the Finnish military and whether he intended to be a hands-on commander.

"We have one of the strongest military forces in Europe," Stubb replied. He pointed to Finland´s wartime military strength of 280,000 through reservists a number that is augmented by some 900,000 men and women who have received military training through conscription service.

"When the Cold War ended, Finland did not run down its military - quite the contrary," Stubb said, referring to the modern state of the country´s defense forces.

"We will play our part in the alliance (NATO).

People trust us and they know that we are serious about our defense for rather obvious reasons. Will I be an active commanderin-chief? Yes, I intend to do that," he said.

Doubts also linger in Finland as elsewhere in Europe over the United States' future commitment to NATO — doubts that former President Donald Trump appeared

NATIONAL Coalition Party candidate Alexander Stubb celebrates after winning the second round of the presidential election during an election party night, Sunday, Feb. 11, 2024, in Helsinki.

Ex-Prime Minister Stubb has narrowly won Finland’s presidential election runoff on Sunday against former Foreign Minister Pekka Haavisto.

Photo:Sergei Grits/AP to rekindle over the weekend as the front-runner for the Republican nomination ramped up his attacks on foreign aid and long-standing international alliances.

"Stubb will become a president of difficult times, possibly even a wartime president," Finnish newspaper Ilta-Sanomat said in an editorial.

The 55-year-old Stubb, who was prime minister in 2014-2015 and started his political career as a lawmaker at the European Parliament in 2004, will become the 13th president of Finland since its independence from the Russian empire in 1917.

Stubb later served briefly as finance minister before exiting Finnish politics altogether in 2017. He had

also earlier served as foreign minister and minister for European affairs and foreign trade. He holds a doctorate in international relations at the London School of Economics and has worked as a professor at the European University Institute in Florence, Italy, since 2020.

During his campaign, Stubb said Finland's priorities include maintaining a hard line toward Moscow and Russia's current leadership, strengthening security ties with Washington, and the need to help Ukraine both militarily and at a civilian level.

Ukrainian President Volodymyr Zelenskyy was among the first foreign dignitaries to send "sincere congratulations" to Stubb.

THE TRIBUNE

Tuesday, February 13, 2024, PAGE 5

FIRED FIRSTENERGY EXECS INDICTED IN $60 MILLION OHIO BRIBERY SCHEME; REGULATOR FACES NEW CHARGES IN this 2015 file photo, FirstEnergy Corp. President and CEO Charles "Chuck" Jones appears at the company's Akron, Ohio headquarters. Two fired FirstEnergy Corp. executives have been indicted in connection with a $60 million bribery scheme in Ohio. Republican Attorney General Dave Yost announced the indictment of former CEO Chuck Jones Monday, Feb. 12, 2024.

Photo:Phil Masturzo/AP

By JULIE CARR SMYTH and SAMANTHA HENDRICKSON Associated Press TWO fired FirstEnergy Corp. executives were indicted Monday in the long-running investigation into a $60 million bribery scheme in Ohio that has already resulted in a 20-year prison sentence for a former state House speaker.

Former FirstEnergy CEO Chuck Jones and former FirstEnergy Services Corp. Senior Vice President Michael Dowling were charged in relation to their alleged roles in the massive corruption case, Republican Ohio Attorney General Dave Yost announced in an online news conference.

“Their actions over a period of years have undermined confidence in state governments, the rule of law, and very nearly made them even richer men than they already are,” Yost said of Jones and Dowling, who are facing criminal charges for the first time since the scandal began. “There can be no justice without holding the check writers and the masterminds accountable.”

Jones and Dowling were fired in October 2020 for violating company policies and code of conduct, and — given their numerous mentions in earlier indictments and court proceedings — the lack of indictments had been notable as a 5-year statute of limitations nears.

Both pushed back forcefully Monday, denying any wrongdoing and accusing Yost of false assertions.

“For more than three years, a false and unfair narrative has surrounded Chuck Jones and other current and former employees of FirstEnergy, the company to which Mr. Jones devoted his entire 42-year career. That ends today,” his attorney Carole Rendon said in a statement. “Mr. Jones did not violate the law. He did not bribe anyone. He acted in the best interests of FirstEnergy’s customers as well as its employees and investors, and never betrayed their trust.”

BIDEN CAMPAIGN TRUMPETS JOINING TIKTOK, DESPITE HIS OWN ADMINISTRATION’S SECURITY CONCERNS

By WILL WEISSERT and ZEKE MILLER Associated Press PRESIDENT Joe Biden ‘s reelection campaign on Monday defended its new TikTok account as a vital way to boost its appeal with young voters, even as his administration continued to raise security concerns about whether the popular social media app might be sharing user data with China’s communist government.

The campaign’s inaugural post featured the president being quizzed on Sunday’s Super Bowl — and included a reference to the latest political conspiracy theory centering on pop superstar Taylor Swift.

“The President’s TikTok debut last night — with more than 5 million views and counting — is proof positive of both our commitment and success in finding new, innovative ways to reach voters in an evolving, fragmented, and increasingly personalized media environment,” Biden reelection deputy campaign manager Rob Flaherty said in a statement.

At the White House, though, national security spokesman John Kirby said “there are still national security concerns about the use of TikTok on government devices and there’s been no change to our policy not to allow that.”

Kirby referred most questions about TikTok to the Biden campaign and ducked a more general query about whether it was wise to use the app at all.

He said the potential security issues “have to do with concerns about the preservation of data and potential misuse of that data and privacy information by foreign actors.”

Both the FBI and the Federal Communications Commission have warned that TikTok’s Chinese owner, ByteDance, could share user data — such as browsing history, location and biometric identifiers — with that country’s authoritarian government. Biden in 2022 signed legislation banning the use of TikTok by the federal government’s nearly 4 million employees on devices owned by its agencies, with limited exceptions for law enforcement, national security and security research purposes.

Separately, the secretive and powerful Committee on Foreign Investment in the United States has been reviewing the app for years while trying unsuccessfully to force TikTok ownership to divest from its parent company. The White House said Monday the review is ongoing.

With 150 million U.S. users, TikTok is best known for quick snippets of viral dance routines. But Sen. Josh Hawley, R-Mo., posted on X that Biden’s campaign is “bragging about using a Chinese spy app even though Biden signed a law banning it on all federal devices.”

The Biden campaign said it had been mulling establishing a TikTok account for months and had ultimately done so at the urging of youth activists and organizations, who argued that the app was key to reaching young voters.

The campaign said it is using a separate cellphone to engage on TikTok in order to isolate using the app from other workstreams and communications, including emails.

Yost said a grand jury in Summit County, home to Akron, indicted Jones and Dowling on Friday and that the two men promised to turn themselves in Monday to the Summit County Jail but then did not. Jones said through his attorney that he was in Akron when the comment was made, awaiting instructions from the court as to how to proceed. Both he and Dowling were scheduled to be arraigned Tuesday.

Monday’s announcement also included additional charges against Sam Randazzo, former chair of the Public Utilities Commission of Ohio, who is already facing 11 counts of charges

centered around allegations he accepted bribes from Akronbased FirstEnergy Corp. in exchange for regulatory favors.

Jones, Dowling and Randazzo face a combined 27 new felony counts announced by Yost, including bribery, theft, engaging in corrupt activity, tampering with records and money laundering.

Randazzo resigned in November 2020 after FBI agents searched his Columbus townhome and FirstEnergy revealed in security filings that it had paid him $4.3 million for his future help at the commission a month before Republican Gov. Mike DeWine nominated him as Ohio’s top utility regulator. The indictment names two businesses he led: Industrial Energy Users-Ohio, and Sustainability Funding Alliance of Ohio, the entity through which the $4.3 million payment was made.

Dowling disputed Yost’s allegations that the payment represented any kind of a bribe, vowing to prove his innocence at trial.

He said the sum represented the final annual installment from

a 2015 settlement agreement between FirstEnergy and IEUOhio, a trade association of large commercial energy users represented by Randazzo, and that the decision to make those payments through SFA was made

by FirstEnergy’s legal and rates departments, not by Dowling himself.

“The allegations of this indictment are completely false and are not supported by any credible evidence whatsoever,” John McCaffrey, one of his lawyers, said in a statement. “It is shocking that a public prosecutor’s office would return an irresponsible indictment and have no evidence to support the charges in the indictment.”

Monday’s indictments mark the latest development in what has been labeled the largest corruption case in Ohio history.

Former Ohio House Speaker Larry Householder was sentenced in June to 20 years in prison for his role in orchestrating the scheme, and lobbyist Matt Borges, a former chair of the Ohio Republican Party, was sentenced to five years.

Super Bowl bets placed online surged this year, verification company says

By WAYNE PARRY Associated Press ONLINE betting on the Super Bowl surged this year, with many gamblers waiting until right before the kickoff to place their wagers, according to a company that tracks the location of internet gamblers.

Data released Monday from GeoComply shows that the number of verification checks it carried out over the weekend increased by more than 22% from last year.

It processed just over 122 million checks this year in 28 of the 29 states that offer online sports betting, excluding Florida.

The company makes sure gamblers are where they say they are before permitting their online bets to go through, a process known as geolocation that is a foundation of online betting in the U.S. The data records the number of times the company was called on to verify a customer’s location. It is considered a good indicator for at least a minimum level of sports betting activity, more than 80% of which is done online in the U.S. “The continued transition to the legal market set the stage for a historic first Super Bowl in Las Vegas, and the recordbreaking results we saw did not disappoint,” said Anna Sainsbury, CEO and co-founder of Vancouver, Canada-based GeoComply.

The Kansas City Chiefs defeated the San Francisco 49ers 25-22 Sunday night for their second consecutive NFL title.

MATT SMIRCICH, of Hamburg, N.J., makes sports bets at the Hard Rock casino in Atlantic City, N.J., Friday, Feb. 2, 2024. On Tuesday, Feb. 6, 2024, the American Gaming Association estimated that a record 68 million Americans would wager a total of $23.1 billion on this year's Super Bowl, legally or otherwise.

Photo:Wayne Parry/AP States require a gambler to be physically located within their borders in order to make online bets. Geolocation technology uses a combination of cellphone data, software, hardware and databases to determine where a phone or laptop trying to make a bet is actually located at a given moment.

While it is true that customers can log in and have their location verified without actually placing a bet, many gamblers also make more than one bet after a single login.

Throughout Super Bowl weekend, GeoComply saw a total of 8.5 million active accounts, up 15% from last year’s Super Bowl.

During the two weeks leading up to the big game, the company saw more than 1.77 million new users sign up for legal online betting accounts.

Since the start of the 20232024 NFL season, customers have added more than 13.7 million new accounts, a 28% increase from last season.

And as usual, many people waited until the last moment to

place bets. The company said that minutes before kick-off, it saw a massive spike in traffic totaling nearly 15,000 transactions per second. This was the highest level ever recorded on GeoComply’s systems, nearly doubling last year’s peak.

The game going into to overtime for only the second time hit many sports books hard, having offered steep odds that it wouldn’t happen. And many bets were on the Chiefs to win, even though the 49ers entered the game as slight favorites.

Less is more? Consumers have fewer choices as brands prune their offerings to focus on best sellers

By ANNE D’INNOCENZIO AP Business Writer HOW much choice is too much?

Apparently for Coca-Cola, it’s about 400 different types of drinks.

That’s why the beverage company recently decided to discontinue half of them, shedding brands like Tab, Zico coconut water, Diet Coke Feisty Cherry and Odwalla juices but still leaving about 200 others to choose from.

It’s a move that other businesses are making as well, reducing the variety of offerings from mayonnaise to cereals to cars and instead focusing on what they think will sell best.

Stew Leonard’s, a supermarket chain that operates stores in Connecticut, New York and New Jersey, now has 24 cereal flavors or types, down from 49 in 2019. Edgewell Personal Care Co., the maker of Schick razors and Banana Boat suntan

lotion, has trimmed certain varieties of its anti-bacteria wipes Wet Ones, among others.

And Dollar General, based in Goodlettsville, Tennessee, used to stock six different kinds of mayonnaise on its shelves and is now looking to drop a couple of them.

“The consumer is not going to know the difference,” Todd J. Vasos, CEO of Dollar General, told analysts in December.

“Actually, it’s going to make her life a little simpler when she goes to the shelf.”

Just a year ago, Kohl’s store in Clifton, New Jersey had tables stacked high with sweaters and shirts in a rainbow of colors as well as dress racks crammed with a wide assortment of styles. Now, it boasts a more edited approach — tables have slim piles of knit shirts that focus on fewer colors, and many dress racks have been reduced to just three or four styles.

Under its new CEO Tom Kingsbury, Kohl’s has been cutting back on the colors and variations of sweaters, jeans and other items, while sending their buyers into the New York market more frequently to bring in fresh trendy merchandise.

“We would go out, and we would buy a lot of goods and it would come in 12, 14 months later, and it didn’t perform very well,” Kingsbury told analysts in a call in November. “We’re going to be using the marketplace, so that we can react to the business quickly, getting into trends.”

Some customers like the changes so far.

“It’s pretty organized,” said Kimberly Ribeiro, 30, who was at the Kohl’s store on a recent Friday. “If it’s not so cluttered, then you don’t get overwhelmed.”

Even in the auto world, shoppers are finding fewer choices.

Both General Motors and Ford

have been touting how they are limiting the number of option combinations customers can get on their vehicles to reduce manufacturing and purchasing complexity.

That’s a reversal from a few years ago when there was an explosion of choices, encouraged in part by online shopping that paid no mind to space constraints. But that didn’t always lead to sales so companies started pruning selections a year or two before the pandemic.

During the pandemic, the pruning only accelerated, with companies focusing on necessities as they wrestled with supply chain clogs. But even after the pandemic, when goods began moving freely again, many businesses decided less was better and justified the limited selection by asserting shoppers don’t want so much choice. It’s also more profitable for companies because they’re not carrying over as many leftovers that need to be discounted.

PAGE 6, Tuesday, February 13, 2024

THE TRIBUNE

STOCK MARKET TODAY

Wall Street hangs near records ahead of inflation report

By STAN CHOE AP Business Writer WALL Street held relatively steady Monday following its latest recordsetting week.

The S&P 500 slipped 4.77 points, or 0.1%, to 5,021.84 after closing Friday above the 5,000 level for the first time. Most of the stocks in the index rose, but losses for Microsoft and other tech companies weighed on the index.

The weakness for tech also pulled the Nasdaq composite down by 48.12, or 0.3%, to 15,942.55. Earlier in the day, It had been hovering just above its all-time closing high set in 2021. The Dow Jones Industrial Average, meanwhile, rose 125.69, or 0.3%, to 38.797.38 to set its latest record.

Conditions were calm across markets, and yields were also stable in the bond market. The next big event for the market could be Tuesday’s update on inflation across the United States, which economists expect to show a drop back below the 3% level.

In the meantime, Diamondback Energy climbed 9.4% after it said it would buy Endeavor Energy Resources in a deal valued at roughly $26 billion, including Endeavor’s debt.

Diamondback is using both cash and stock to pay for the purchase of the

privately held exploration and production company.

Trimble rose 4.2% after the technology provider reported stronger profit and revenue for the latest quarter than analysts expected.

The company, whose products are used in the construction, mapping and other industries, shook off an earlier loss after it also gave a forecast for revenue over 2024 that fell short of Wall Street’s estimates.

Big companies in the S&P 500 have mostly been reporting better results than expected for the final three months of 2023. More than two-thirds of the companies in the index have already reported their results, but several big names are still to come this upcoming week.

They include Coca-Cola on Tuesday, Kraft Heinz on Wednesday and Southern Co. on Thursday.

The smallest companies in the market, meanwhile, are still in the relatively early days of their profit reporting season.

But they’ve been beating analysts’ expectations by even more than their big rivals, according to Bank of America strategists.

Worries have grown about how top-heavy the stock market has become, where the seven biggest companies have accounted for a disproportionate amount of the S&P 500’s rally to a record. If more companies aside from the group known as the

NEW MEXICO SENATE ENDORSES BUDGET BILL EMPHASIZING SAVINGS DURING OIL SECTOR WINDFALL

“Magnificent Seven” can deliver strong profit growth, it could soften the criticism that the market has become too expensive.

Another worry for the market has been uncertainty about just how much danger lurks for the economy in the loans and other holdings banks have on their balance sheets that are tied to commercial real estate.

The widespread expectation, even among top U.S. government officials, is that weakness for office buildings and other commercial projects will mean at least

some pain for banks. But no one can say how much for sure.

That’s why so much focus has been on New York Community Bancorp recently. It shocked investors two weeks ago when it announced a surprise loss for its latest quarter. Some of the pain was due to its acquisition of Signature Bank during the industry’s mini-crisis last year. But worries about commercial real estate also played a role.

New York Community Bancorp’s stock has roughly halved since that

surprise report, but it held a bit steadier on Monday. It edged down by 0.2%.

An index measuring stock prices across the regional banking industry rose 1.8%.

In the bond market, yields were moving very little. The yield on the 10-year Treasury slipped to 4.16% from 4.18%, late Friday.

The two-year Treasury yield, which more closely tracks expectations for the Federal Reserve, held at 4.48%, where it was late Friday.

Inflation has been cooling enough that the Federal Reserve has hinted it may cut its main interest rate several times this year.

Such cuts typically juice financial markets and the economy, and they would release pressure that’s built up since the Fed has taken its main interest rate to the highest level since 2001.

After earlier hoping cuts to rates could begin as soon as March, traders have since pushed their forecasts out to May or June.

Reports showing the U.S. economy and job market remain remarkably solid, along with some comments from Fed officials, have been forcing the delays.

If the Fed ends up making traders wait even longer than expected for rate cuts, it could upset stock prices that have already shot upward on the assumption of lots of good news, according to Marc Dizard, chief investment strategist at PNC Asset Management Group. Besides lower interest rates, that also includes stronger convictions for no recession for the U.S. economy, inflation continuing to come down and corporate profits growing more strongly.

“There isn’t a whole lot more than can really go right,” he said.

In stock markets abroad, indexes were modestly higher in much of Europe.

In Asia, several markets were closed for holidays.

By MORGAN LEE Associated Press

fades in the transition to cleaner energy sources under an annual spending plan endorsed by the state Senate on Monday.

The 31-10 Senate vote sends the bill back to the House for concurrence on amendments. The Democratic-led Legislature has

until noon Thursday to send a budget bill to Democratic Gov. Michelle Lujan Grisham, who can approve or veto any provisions.

The bill as amended would increase annual general fund spending by $653 million, or 6.8%, to $10.2 billion for the fiscal year running from July 2024 through June 2025.

The boost in state spending is dwarfed by more than $1.3 billion in general fund transfers to new endowments and trusts designed to bolster scholarships for college and professional training, housing construction, outdoor conservation programs and autonomous Native American education programs.

Legislators anticipate a $3.5 billion budget surplus for the coming fiscal year, driven largely by oil and natural gas production in the Permian Basin that overlaps southwestern New Mexico and western Texas.

Republican state Sen. William Burt of Alamogordo urged colleagues to support the bill "because oil and gas won't always be there for us."

"We've got to look farther than the next few years. We've got to look at the long ... future of New Mexico," said Burt, one of six Republicans who voted for the spending bill.

The budget plan includes a new $959 million trust to permanently underwrite tuition-free college without fees for New Mexico residents — an initiative championed by Grisham since taking office in 2019.

Public scholarships still are supported in part by lottery ticket sales.

The bill allocates $512 million to a "government results and opportunity" trust that would underwrite a variety of new programs during a three-year vetting period before future funding is guaranteed.

Another $75 million fund would help state and local governments compete for more federal infrastructure spending from the Inflation Reduction Act, the Biden administration's signature climate, health care and tax package.

A conservation fund established in 2023 would get a $300 million infusion.

Democratic Senate Majority Leader Peter Wirth said that would guarantee annual distributions of about $21 million to an array of conservation programs at state natural resources agencies, from

soil enhancement programs in agriculture to conservation of threatened and big-game species.

A revolving loan fund to finance construction would receive a $175 million infusion to expand both housing and commercial building inventory.

"New Mexico, you are not a poor state," said state Sen. George Muñoz of Gallup, the Senate's lead budget negotiator, urging colleagues to endorse the budget and its investment strategy.

Democratic state Sen. Bill Soules of Las Cruces voted for the bill but cautioned that the state shouldn't lose sight of such urgent concerns as childhood poverty as it builds up savings and investments. The bill includes funding for universal free school breakfasts and lunches.

"Are we afraid of the future and so afraid that we're going to put money away for the future instead of addressing the needs today?"

Soules said.

"Making sure children don't go hungry in New Mexico, aren't abused and have a place to sleep at night — all of those are our obligations."

Major annual spending increases include a 6.1% boost to K-12 public school funding, to $4.4 billion.

Medicaid spending would increase by $180 million, or 11%, as pandemic-era federal subsidies for the program recede and New Mexico increases payment rates to medical providers, including care for women with newborn children. The budget bill also increases pay by 3% for state employees and staff at K-12 schools, state colleges and public universities at an annual cost of $214 million.

It would funnel more money to rural hospitals, literacy programs, state police salaries, safety-net programs for seniors and road construction and maintenance.

New Mexico would become the 14th state to ensure paid time off to workers when they're seriously ill or to care for newborns and loved ones under a bill that advanced Monday toward a decisive House floor vote after Senate approval.

The budget would provide at least $24 million to launch the program, which funds leave through a combination of employee and employer contributions.

SPECIALIST Anthony Matesic works at his post on the floor of the New York Stock Exchange, Wednesday, Jan. 31, 2024.

Photo:Richard Drew/AP

NEW Mexico would set aside well over $1 billion to guarantee tuition-free college and sustain government spending in case its oil production bonanza

WORDSEARCH Tuesday, February 13, 2024, PAGE 7

THE TRIBUNE

JUDGE PARKER

E L W V Q Q F C R A L I N A M P O E L B Q B S U H Y F R J Y L Q W I F J E S G H N E P M O G E L M P J A K A S H M I E O K C B O H A A H N T B U A T E B N G A B N V V L N Q D N I O A S U R Z X A T T D N O B X H D L H V G E B N P E S A I N S M B A M N C H O N G K O N G F

CARPE DIEM

MARVIN

4

DX1ST CITIES IN EAST AND

Daily Express Wednesday, October 25, 2023

Puzzles

BLONDIE

Find all the terms listed b Solution tomo BANGKOK ● BUSAN ● DAVA HONG KONG ● JAKARTA ● CRUSADER PRIZE CROSSWORD MANDALAY ● MANILA ● 1 2 3 4 ACROSS DOWN PHNOM PENH ● SEOUL 1 Installed new cables, 1 Ammunition for golf SHENZHEN ● TAIPE making engineers games (6) edgy (7) 2 Chicken, say, to meet with a 9 VIENTIANE ● YA 5 Retiring as a fairy tale drunk (5,4) character (7) 9 Common, Ravel’s composition, after college (9) 10 Act it out in the loft (5) 11 Furniture item useful to an actor (7) 12 Nowadays learn layout of a gland (7) 13 Setting up a business (13) 18 Small likelihood of a picnic? (7,6) 20 Carelessly rated the French lever (7) 23 He’s on his own concerning clue’s solution (7) 25 Honour age, returning last letter (5) 26 Drink to endearing sort (9) 27 Beg for space to put handle (7) 28 Setting location by railway (7)

3 Rushes to get some instruments (5) 4 Alluring breads lie 11 around (9) 5 Sculpt a slab out of wood (5) 6 Almost looking around university – that’s 13 prickly (3,6) 7 Enjoyment,QUICK having taken to 17 bed (5) CROSSWORD 8 Lilac toy changed place (8) 18 14 Yet another scale is Across: 1 Ingot, 4 Develop, shoddy (5-4) 15 Employed at losing 9 Rural, 8 home, Doorman, fourth of solidity (2,7)11 Sedation, 20 21 10 Seer, 16 I have to follow old, 14 cute,Flog, 13 Pail, eccentric chief (9) 16 Stealthy, 17 Twin, 17 Run off, reporting complete 20 hiding place (8)Bring, 21 Abolish, 25 22 Earnest, 23 Press.

19 Get upset about Lee’s wrong ingredient Down: (6) 1 Indispensable, 21 It took place the 3 Tomb, 2 in Glove, 27 Seventies (5) 4 Danger, 5 Variable, 22 Rowers had dinner, we 6 Lurking, 7 Pull no hear (5) 12 Dialogue, 24 Mad not topunches, finish European trend (5) 13 Premier, 15 Thwart,

YESTER

HAGAR THE HORRIBLE

TIGER

CALVIN & HOBBES

18 Waive, 19 Romp.

14

WORDSEARC Y U E C A L P O R T A U S B C N P Z S S O O 22D J Q T L D S N X O L N B D 26 L R I A Y A A M N R J C W C S A H O L I A S M I E Y F G P V Y J L B E B M P T V M V D E N I T N V W L S S E

THE ALPHABEATER

TARGET

L C E NUO I O T

● The Target uses words in the main body of Chambers 21st Century Dictionary (1999 edition)

CAN you crack the Alphabeater? Each grid Extra lett number represents a letter – or black square. THE 0907AL 18 TARGET As in Alphapuzzle, every letter of the alphabet (Deduct three each extra clue is used.

But you have to complete the grid too!

Across: Aq BAPTISTRY Useairy the given and black squares below Dazzle,FullInc so arty letters BAPTISTRY batty bitty thebratty grid to bray start. The grid is ‘rotationally 0907 18 (clue), Ear, parity party pastry symmetrical’ – in other looksraspy the *Calls cost 80p p Darkly, Pre pasty patsy pattywords, pity itpray your telephon same if you turn the page upside down. network acc Down: Sku ratty satyr spay spray spry stay Solution tomorrow

Delight, Dis

stray stripy tasty tipsy tray tryst

Exclaim, Fl A typist 22 19yips35 35 19 5 13 29 26 30 22 B HOW many words of four letters or C 35 1 12 18 6 12 15 13 11 12 35 more can you make from the letters D shown here?

E 12 5 14 21 11 31 22 30 12 37 16 In making a word, each letter may be F used once only. Each must contain the centre letter and there must be at G 33 20 5 3 37 22 1 40 39 12 31 least one nine-letter word. No plurals.

H Verb forms ending in S permitted.

I4 27 22 28 25 3 4 9 19 6 18 J TODAY’S TARGET Good 14; very good 21; excellent 27 40 40 23 40 37 32 21 24 K 34 14 8 (or more). Solution tomorrow L 17 10 21 34 16 M 26 30 19 15 22 9 Call 0907 181 2585 N for today’s Target solution 26 16 35 27 21 33 35 19 2 O 19 5 *Calls cost 80p per minute plus your telephone BestPdescribed as a number crossword, the task in Kakuro company’s network access charge. is toQfill40all of empty 15the20 1 squares, 19 6 using 17 numbers 9 401 to209, so 40 the sum of each horizontal block equals the number to its R left, Sand the sum of each vertical block equals the number 35 8 11 19 2 40 28 32 34 10 5 on its T top. No number may be used in the same block more thanU once.

The19difficulty level18of the Conceptis Kakuro 19 10 28 19 FIND where the fleet of ships shown is hiddenincreases from Monday to Sunday. 35 40 38 16 19 V in the grid. The numbers to the right of and 3 32 27 34 36 below the grid indicate how many of the W 22 21 25 40 35 7 squares in that row are filled in with ships or X parts of ships. The ships do not touch each 7 15 33 12 7 Y 32 27 35 9 Yesterday’s Yesterday’s5 40 other, even diagonally. Some squares have Z

DENNIS THE MENACE Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Sudoku increases from Monday to Sunday

BATTLESHIPS

1

been filled in to start you off.

Solution tomorrow

1 2 3 4 5 6 7 Sudoku Answer

8

9

10

2

21

28

29

30 31

3

4

CRYPTIC PUZZLE 1 Showed the way with emphasis (7) 5 A shoe maker in the Old Testament (5) 8 Considered the matter closed? (7,2,4) 9 Earthquake centre (5) 10 Form of ciphers (7) 11 Spoils a signal and gets into a row (6) 12 How one might be cast as Captain Bligh? (6) 15 Harass the debtor gone somehow underground (7) 17 A leg’s broken by hard blows (5) 19 Stately stride - appropriate to a ruler? (8,5) 20 Give someone a sharp reminder (5) 21 Isn’t run out but retires (5,2)

4

5

1 The high point of a fling (5)

1 4

D

2

E

1

F

2

G

1

H

1

I

5

J

1 2

3

6

1

7

2 x Cruiser

8

9

10

3 Get hint about contract (7) 4 Dislike writing notes before

11

12

exam (6)

13

14

5 Something wrong with a knot? (5)

15

16

17

18

6 One must be patient with it for a long time (6,7)

19

7 A new tropic fruit (7) 11 Could be bad sign for the

20

21

corporation (7) 13 Sirius follows Jack (3,4) 14 Eager to be camping? (6) 16 French study a composition (5) 18 Battle for the chairman’s seat? (5)

Yesterday’s Cryptic Solution Across: 1 Eerie, 8 Sideline, 9 Gnome, 10 Aircraft, 11 Study, 12 Pen, 16 Diesel, 17 Inform, 18 Yap, 23 Means, 24 Executed, 25 Basin, 26 Entwines, 27 Alert.

Down: 2 Einstein, 3 Immodest, 4 Divide, 5 Peach, 6 Divan, 7 Lento, 12 Ply, 13 Nip, 14 After all, 15 Frontier, 19 Aneled, 20 Repel, 21 Deity, 22 Quail.

Yesterday’s Easy Solution Across: 1 Stiff, 8 Holed out, 9 Smirk, 10 Big stick, 11 Sweat, 12 Yew, 16 Urbane, 17 Anyhow, 18 Try, 23 Sheer, 24 Worse off, 25 Snoop, 26 No wonder, 27 Feint.

Down: 2 Time-worn, 3 Fire away, 4 Notice, 5 Cease, 6 Solid, 7 Stake, 12 Yet, 13 Way, 14 By chance, 15 Tone down, 19 Rafter, 20 Swing, 21 Brawl, 22 Being.

Across 1 Interrupt (7) 5 Put forward (5) 8 Sharing common adversity (2,3,4,4) 9 A strong thread (5) 10 Absolutely determined (4,3) 11 Majestic (6) 12 Notorious (6)

Down 1 Underlying meaning (5) 2 In a highly favourable position (7,6) 3 Futile (7) 4 Strong alcoholic spirit (6) 5 Musical drama (5)

15 Posy worn on a

6 State of delusory happiness (5,8)

dress (7)

7 Sound of sharp

17 Stylistic talent (5)

knocking (3-1-3)

19 In a way, but not

11 Public praise (7)

very well (5,1,7) 20 Possibly (5) 21 Take over from (7)

9 10

B

2 Separate complaints department (9,4)

8

C

Down

EASY PUZZLE

Across

3

7

2

1 x Battleship

2

6

A

3

1

5

13 Denial (7) 14 Young cow (6) 16 Come to terms (5) 18 A selection (5)

2

1

2

1

3

3 x Destroyer 4 x Submarine

22

23

24

25

26

F P

27

H

11 12 13 14 15 16 17 Kakuro Answer

■

32

■

33

34 35

■

36

37

● Alternatively, for six Extra Letter clues to your mobil text DXBEAT to 64343. Texts cost £1 plus your usual opera

KEIJO 1

3

2

1

2

1

2

4

2

4

4

3

3

3

1

2

4

Place t the gr four numbe differe appear and

So tom