02172021 BUSINESS

business@tribunemedia.net

WEDNESDAY, FEBRUARY 17, 2021

$4.37 Fisherman urges ‘crack down’ on Florida vessels

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A PROMINENT fisherman yesterday urged the authorities to “crack down on clandestine fishing boats coming out of Florida” as these were inflicting havoc similar to that of Dominican poachers.

Paul Maillis, the National Fisheries Association (NFA) director, told Tribune Business he and his fellow members were “excited” by the willingness of the US Coast Guard to partner with The Bahamas and other nations in the fight against illegal, unregulated and unreported (IUU) fishing and the threat it poses to this nation’s fishing stocks.

“What we have to start cracking down on is the clandestine fishing operations coming out of Florida,” he told this newspaper. “They’re disguised as charter vessels and tourist vessels. They also cause great problems for commercial fishermen in this country; if not greater, then certainly equal to the damage caused by fishermen from the south, the Dominican Republic.

“We a lot of help policing the Florida straits....

It’s [poaching] definitely at the level it always has been, especially with these clandestine commercial fishermen operating out of Florida. The Defence Force has done a great job on deterring Dominican poachers from the south, increasing their surveillance and improving their tactics and intelligence.

“They’ve captured a lot of those vessels, and the fishermen down south have noticed a great improvement in the fisheries stock,” Mr Maillis added. “But because of the innocentlooking vessels from the north, it’s difficult to tell one from the other unless you board them and scrutinise their yachts and catch.

“These are nice-looking people, fancy yachts, and law enforcement is generally reluctant to intercept vessels looking like that.

Everyone participating in our country has to understand and respect our laws and regulations.”

Mr Maillis warned that failure to enforce the existing fisheries laws and regulations will only result in widespread noncompliance, and he urged Bahamian marinas to fulfill their obligations by adopting a ‘zero tolerance’ approach to clients who broke them rather than look the other way.

Warning against any “cover ups” so that marina guests are “not frightened off”, he urged that industry: “Teach them to respect the laws of our country, and if there are breaches report that.” Mr Maillis also urged central and local government officials not to attempt to interfere with efforts by park wardens and fisheries officials to enforce the laws.

“We need compliance at all these levels of law enforcement and we will see great results,” he said.

“We have to safeguard our resources. Poaching has impacted lobster, spear fishing and pelagic fish.”

Mr Maillis spoke out after vice-admiral Steven Poulin, of the US Coast Guard, said last week: “IUU fishing undermines coastal state sovereignty. It undermines the rule of law and it erodes maritime governance. It jeopardises food security and economic prosperity for more than 3.3bn people who rely on fish as a primary source of protein.

SEE PAGE 9

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$4.39

Entertainment rivals ask: What about us?

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

E

NTERTAINMENT businesses yesterday voiced relief they can finally begin “the long road” to rebounding from COVID-19’s multi-million dollar losses even though several have yet to reach the starting line.

While Leslie Miller said his family’s Mario’s Bowling and Family Entertainment Palace will re-open as early as today, following Fusion Superplex’s confirmation it received the go-ahead to restart its cinema business, both Galleria Cinemas and Skate City yesterday told Tribune Business they have yet to receive similar permission from the Prime Minister’s Office.

Chris Mortimer, Galleria Cinemas’ principal, said he believed approval

• Galleria, Skate City await re-open go-ahead • As Mario’s prepares to restart business today • Operators warn of ‘long road back’ from COVID

CHRIS MORTIMER

LESLIE MILLER

for his company’s re-opening was “imminent” while expressing mild surprise that Dr Hubert Minnis had not made “a general announcement” covering all entertainment-related businesses as opposed to granting permissions to individual companies.

The impression of a patchwork approach that lacked uniformity was further reinforced by Ivan Francis, owner/operator of Skate City 242, who told Tribune Business he has yet to receive any official go-ahead from the government to re-open his venue

to customers.

“The government has not given me the official green light to open, at least not officially,” he said. “But I do understand that they did a few of the other entertainment venues, like Mario’s Bowling and the Fusion Superplex.”

“I don’t know when I will get my letter, but I will check back with them maybe this afternoon or first thing in the morning.

I’m to the limit now, but there is nothing I could do. I just need the letter, because I’m to the limit now. It’s been an entire year now” since the company, located at the former Bacardi plant

THE government’s repeated failure to settle a 60 year-old grievance has put the planned North Eleuthera airport expansion in peril from potential legal action by over 3,000 “common” land owners.

Attorneys acting for the Harbour Island Commonage Committee, the owners’ representative, last night told Tribune Business their clients will use multiple legal channels to recover what they believe is due to them after failing to receive a single cent from the government for the decades-long use of up to 730 acres of their land.

Richette Percentie, of KLA Chambers, urged the Minnis administration to “sit at the table and reach common ground” with the committee rather than provoke a legal battle that could delay airport infrastructure

ALGERNON CARGILL expansion deemed vital to North Eleuthera’s growth as a tourism destination.

She added that the commoners wanted the government “to give consideration to a public-private partnership (PPP) with them”, as it had initially seemed willing to do, only

BRENSIL ROLLE

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

the controversy’s roots date back to the pre-colonial era of the 1950s, when the decision was made to construct North Eleuthera’s airport on a portion of 6,000 acres that were subject to a Crown commonage grant on July 1, 1842.

Foster Clarke, the thenMP, wrote a 1956 letter to RE A Sweetnam, a crown lands officer, warning that “the preliminary question of granting title to the land should be settled before constructing the airstrip or the road” given “very strong opposition” by some Harbour Island/Dunmore Town residents who felt their property rights were being violated.

SEE PAGE 7

SEE PAGE 9

SEE PAGE 6

• Sixty year-old grievance behind Eleuthera dispute • Govt increases land buy goal from 450 to 658 acres • Landholders: ‘Sit at table and find common ground’ to reverse course after several months of negotiations and instead move to a compulsory acquisition of the entire 658-acre North Eleuthera Airport site via the Acquisition of Land Act. This purchase, which if approved by Parliament would see the government acquire the existing airportestimated at between 200 and 250 acres - plus a further 400 acres, would take its use of the commoners’ land to more than 1,138 acres. The latter figure includes the 450-acre wellfield site, plus the 30-acre Harbour Island garbage dump, neither of which the government has paid a cent for.

Documents seen by Tribune Business reveal that

Jobless benefits to strike $230m

A CABINET minister yesterday said the National Insurance Board (NIB) and government have spent a combined $230m on unemployment and income support during the COVID19 pandemic.

Brensil Rolle, minister for the public service with responsibility for NIB, speaking outside the Cabinet Office, said: “Never before in the history of The Bahamas has any government agency spent as much as NIB on income support and unemployment assistance.

“I looked at the numbers yesterday, which suggests that when we look at the entire income support and unemployment assistance programme, some $219m has already been spent, and that does not include an additional $10m that will come in the month of February. So I can easily say that roughly in terms of income support alone, Bahamians have benefited to some degree by nearly $230m.”

Mr Rolle continued: “I think the Bahamian public also appreciates that the government has extended income support for much longer than even we believe was possible. If you look back at the history of income support in the country, we anticipated that we would have gone to June.

It’s now almost 12 months of solid income support from the government and NIB.” The unemployment benefits kicked-in from March

Land owners threat to airport expansion

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

$4.39

Activists alarmed over rise in BPC JV interest

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas Petroleum Company (BPC) yesterday alarmed environmental activists by indicating it has not given up on The Bahamas following a surge in interest from potential joint venture partners.

Casuarina McKinney, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, told Tribune Business she was “very concerned” after the oil explorer informed the international capital markets it had received numerous inquiries despite its failure to locate commercial oil quantities with the Perseverance One well.

BPC, in a statement that left the door open to further exploratory oil drilling in its other four Bahamian licence fields, added that the data gleaned from the well dug in waters some 90 miles west of Andros will “more accurately inform and direct” its future plans in this nation.

• Oil explorer hints not giving up on Bahamas yet • Says surge in ‘farm-in’ inquiries after well’s end • Data obtained invaluable for four other licences

STENA ICEMAX DRILL SHIP Affirming that the “plugging and abandonment of Perseverance One has been carried out safely and responsibly”, BPC added that the Stena IceMAXX drill ship has moved away

from the location and its contract with the oil explorer has come to an end.

“The Stena ICEMAX has just left the drilling location and is off-hire. However,

the pace of operations has not ceased. The post-well review has begun, as the company charts its way forward in The Bahamas with a renewal of the farm-out process,” Simon Potter, its

chief executive, said in a statement.

BPC added that despite the failure to strike commercial oil quantities, its exploratory well drilling has sparked renewed interest from farm-in or joint venture partners that could team with it to share the technical, operational and financial risks on any future Bahamian exploratory well.

“BPC is considering the most appropriate way forward for monetisation of its assets in The Bahamas, in particular, the renewal of an active farm-out process,” the oil explorer said.

“The company has continued to assess options for a farm-out or similar transaction as part of its overall risk mitigation and funding strategy, and maintained an active dialogue with a number of interested parties, including a number of oil and gas majors and super-majors, right up to the point of spudding the Perseverance One well.

“Since announcing the well results, the company has received a number of unsolicited approaches

SEE PAGE 7

PAGE 2, Wednesday, February 17, 2021

THE TRIBUNE

BAHAMAS BIDS TO ‘REGAIN LOST GROUND’ ON CAPTIVES THE Bahamas Financial Services Board (BFSB) will again be a platinum sponsor for the 2021 World Captive Forum (WCF) as the nation seeks “to recapture lost ground” in this market.

The Forum, which is celebrating its 30th year, will be hosted virtually for the first time on February 24-25 as a result of the COVID-19 pandemic. Its target audience includes captive insurance managers, investment managers, reinsurers, brokers and regulators

and officials.

Captive insurance has been a mechanism long used by major corporations and individuals to both control and manage risk.. Many risks on a company’s balance sheet do not align with its core business practices, so many transfer these risks to a so-called captive insurer via an insurance contract.

In 2017, there were more than 6,500 captives operating worldwide, and over 1,000 companies successfully using captives

according to Deloitte & Touche’s review of the Bermuda Captive Market in January 2019. The BFSB says there is a growing trend for private companies and individuals with unique risks, such as doctors, to form and own captives.

Tanya McCartney, BFSB’s chief executive and executive director, said: “There remain opportunities for us to capture a niche market in this captive space.

Annually, BFSB and the Insurance Commission of

the Bahamas participate in the various captive and risk management conferences in the US and Canada.

“However, service providers continue to state that we should seek to recapture the ground that was lost in this area by making a clear policy statement from the government that is going after growth in captive insurance and the allocation of resources to support this growth.”

Ms McCartney said the industry is also seeking a “review of current legislation and regulations to ensure that The Bahamas is competitive”, while urging that the nation move to attract a major insurance broker to the jurisdiction., It also wants to work in partnership with the government to develop a plan that focuses on growing captives in niche areas such as technology, Fintech (financial technology), property development and wholesale.

Among the Bahamian insurance professionals who have registered to attend the forum

CARL CULMER, the Insurance Commission’s manager of policies and practices.

TANYA MCCARTNEY, BFSB chief executive and executive director.

event are members of BFSB’s Captives Working Group. They include Guilden Gilbert, CG Captive Managers’ chief executive, and Rayon Brown, managing director and consulting actuary of Nassau Captives.

Carl R Culmer Jr, the Insurance Commission’s manager of policies and practices, will be participating as a panelist in the regulation update session on February 25. He will be joined by other regulators including David Provost, the Vermont Department of Financial Regulation’s

deputy commissioner, and Travis Wegkamp, the Utah Insurance Department’s director of captive insurance.

This panel will share insights on current events impacting the captive insurance industry in their respective jurisdictions. The session will be moderated by captive insurance attorney, Joe Holahan, partner, Morris Manning & Martin LLP, who will lead the discussion on topics including COVID-19; international financial centre compliance costs; and cannabis captives.

THE TRIBUNE

Wednesday, February 17, 2021, PAGE 3

WATER SUPPLIER GIVES TO BACKYARD FARMING CONSOLIDATED Water (Bahamas) has donated to the backyard greenhouse farming project initiated by Lend A Hand Bahamas to provide improved access to more affordable food amid COVID-19.

Local agricultural specialists have assisted with the greenhouse’s construction and planting of seeds, ahead of the implementation of farming methods such as hydroponics and aquaponics.

Mitsyann Burrows, Lend A Hand Bahamas programmes manager, said the organisation has plans to offer various business skills and certifications in the near future beyond the farming.

“We want to get persons off of the food line and into something that they can use to help themselves. We will give persons workforce preparation and financial literacy training also,” she said.

Ms Burrows accepted Consolidated Water’s donation on behalf of Lend A

CONSOLIDATED Water (Bahamas) Ltd recently made a donation towards Lend A Hand Bahamas’ resiliency-building education programmes such as the new backyard farming and greenhouse project. From left: Consolidated Water’s accounts manager, Welliya Cargill; Lend A Hand Bahamas programmes manager, Mitsyann Burrows; and Consolidated Water operations supervisor, Jeffery Burrows.

Hand Bahamas, and called on companies to follow the lead of businesses such as the BISX-listed reverse osmosis water plant operator.

Consolidated Water last year donated $12,500 to Lend A Hand Bahamas in support of its emergency food relief efforts. The

donation was matched dollar for dollar by the Lyford Cay Charitable Trust to assist with food relief and resiliency-building education programmes, such as the new backyard farming and greenhouse project.

Welliya Cargill, Consolidated Water (Bahamas) accounts manager, and the company’s operations

supervisor, Jeffery Burrows, praised the progress Lend A Hand Bahamas has made in assisting the most vulnerable in society.

“During our last visit with Lend A Hand Bahamas, we got a first-hand look at how their efforts directly help Bahamians in need. With so many families struggling with food insecurity today, the role of this organization has never been more crucial,” said Ms Cargill.

“Consolidated Water (Bahamas) recognises that Lend A Hand is essential in community development, and we made a commitment to support them during these unprecedented times.”

Mr Burrows added: “Consolidated Water (Bahamas) commends Lend A Hand Bahamas for its innovative approach to humanitarianism. You have so many programmes that are making a huge difference in communities throughout downtown Nassau. We know that

this donation is going to very good use and will impact the lives of many Bahamians.”

Lend a Hand Bahamas is a key partner in the National Food Distribution Task Force, and a zone leader in downtown Nassau. As the most populated zone in the programme, it includes the areas of Bain Town, Grant’s Town, Centreville, Mount Moriah, Englerston, Chippingham, St Barnabas, Stapledon Gardens, Yellow Elder, Fort Fincastle, Montell Heights, Palmdale, Fort Charlotte, Millennium Gardens, Oakes Field and Boyds Subdivision as well as the Nassau west communities of Gambier, Adelaide and Mount Pleasant.

Since COVID-19 struck, the non-profit organisation has established countless programmes to meet the needs of these communities, which include over 36,000 individuals in more than 10,000 households.

DPM ‘in House soon’ on Financial union leader BPL $535m raise reform elected to regional post

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE deputy prime minister yesterday said he “soon expects to be in Parliament” with legal reforms to facilitate Bahamas Power & Light’s (BPL) mammoth $535m refinancing.

Desmond Bannister, who is also minister for works with responsibility for BPL, speaking outside the Cabinet Office, said: “BPL is moving ahead. I expect to be in Parliament soon with the amendments to the Rate Reduction Bond Act. “The money is there, the money is ready and waiting for BPL at very good interest rates, and so we’re going to see some things happening.” The changes to the Rate Reduction Bond Act are designed to make the issue more attractive to investors, thereby ensuring there is full take-up or subscription and that BPL raises the target sum it is seeking.

Tribune Business sources have suggested that BPL and its financial advisers/ placement agents, CIBC FirstCaribbean International Bank and Citibank, are now just waiting on the go-ahead from the

DESMOND BANNISTER government before launching a fund-raising that will raise capital sufficient to pay-off the utility’s existing $321m debt and finance critical upgrades to its transmission and distribution mechanism.

This newspaper was told that the private placement memorandum (PPM) offering document, which sets out the BPL bond’s terms and conditions, is now ready to be issued, but the amendments to the Rate Reduction Bond Act are vital to improve the offering’s attractiveness as well as establishing the ‘rules’ investors must abide by.

Mr Bannister, meanwhile, repeated prior warnings for companies and households to pay their due electricity bills. He added: “I say this many times. It’s important that if you can pay your bill, that you pay it. I had

an example the other night where a company was cut off and they were calling me. But they owe hundreds of thousands of dollars to BPL.” It is unclear who he was referring to. The Fusion Superplex was disconnected last week Thursday for $506,000 in arrears despite having a payment plan in place with BPL. It was subsequently reconnected after Fusion’s chief executive, Carlos Foulkes, said it made a down payment on the arrears and will keep current moving forward.

Mr Bannister added: “The challenge is, when you go home at night, you want your power on. BPL has monthly bills that run in the millions of dollars just for fuel. They have millions of dollars of bills that have to pay their staff. These are critical things that they have to keep the company going, and the government can’t keep BPL running financially. We can’t keep giving to BPL. “So people have to pay their bills where they can.

If they can’t pay their bills, and they can provide the BPL with the evidence, you would find that BPL is very reasonable and very understanding.”

EXUMA GAINS NEW ‘PORTAL’ VIA $10M MARINA PROJECT

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A $10M resort/marina project will create an extra “portal” that generates additional business for existing Exuma businesses when it becomes fully operational in about two years’ time.

Brent Hurt, The Marina at Hooper’s Bay’s managing partner, addressing a virtual planning meeting on the project, pledged it will “not be an industrial marina” while saying it “always” envisioned that the facility would seek to attract a combination of locals and winter residents.

“We are not in the boat rental business,” he said.

“This is merely meant to be the accommodating of really nice boats to be able to park in the area.” The marina, which is designed for boats between 25 to 45 feet in length, will also be marketed to new yachters as an alternative destination for their vessels.

Marina slips will be sold and not rented. Purchasers of villas at The Marina at Hooper’s Bay will have to join a “rental pool” where they will be expected to lease out the property to other visitors for nine months per year. The restaurant facilities, though, will be open to the public.

While unable to estimate how many construction jobs will be created by the development, Mr Hurt did provide figures for full-time jobs. He said: “I believe that down on the marina itself, there will probably be seven

permanent jobs there.

“I think we’ll have four permanent jobs in the administration, like guest services, concierge services, arranging tours etc through local contractors. Then you’re going to have the groundskeepers and security. You’re going to have the restaurant operators, and then you’re going to have the personnel that operate the hotel itself.”

The total workforce for The Marina at Hooper’s Bay

will be 40 persons on a regular basis. Mr Hurt added: “The real job impact is not going to be just the hotel.

The real job impact is going to be that now local entrepreneurs - be they restaurateurs, be they shop owners, be they tour operators or watersports operators - now they have a portal to bring more guests to their business.

“The type of boats that

SEE PAGE 6

THE Bahamas Financial Services Union’s (BFSU) has been elected to serve a four-term as the woman president for the Americas by a trade union federation with global reach.

Theresa Mortimer was unanimously elected as unanimously elected as UNI Global Union’s Americas woman president for 2020 -2024 during the organisation’s recent regional conference, which attracted 425 participants from 23 countries. Some 83 trade unions were represented, with the audience also featuring 94 delegates, 71 observers and 200 invited guests.

Ms Mortimer, who said she is the first Bahamian and person of African descent to hold such a position, now represents women throughout the Caribbean, Americas, Canada, Uruguay, Brazil, Argentina, Mexico, Chile, Paraguay, Bolivia, Columbia, Ecuador, Peru and Venezuela.

And, earlier the UNI Americas Youth conference elected Branishka Rolle, the BFSU’s executive vice-president, to serve as Titular.

UNI Global Union, based

To advertise in The Tribune, contact 502-2394

THERESA MORTIMER, BFSU president.

BRANISHKA ROLLE, BFSU executive vice-president.

in Nyon, Switzerland, represents more than 20m workers from more than 150 different countries in the skills and services sectors.

Its aim is to ensure these jobs are best suited/tailored for the employees, and that workers’ rights - including the right to join a union and collective bargaining - are protected.

UNI, via its sector trade unions, represents workers

in cleaning and security; commerce; finance; gaming; graphical and packaging; hair and beauty; information; communication; technology and services industry (ICTS); media; entertainment and arts; post and logistics; private care and social insurance; sport; temp and agency workers; and tourism industries as well as professionals and managers, women and youth.

NOTICE of VOLUNATRY LIQUIDATION Pursuant to the provisions of Section 138 (4) of the International Business Companies Act ,2000 of the Commonwealth of The Bahamas, Notice is hereby given that:-DOOGARY INVESTMENTS LIMITED is in Dissolution; the commencement date is 16th. day of February 2021 and the Liquidator is Vincent L. King c/o BPMSL 13 East Bay Street, (P .O. Box .SS 19743) Nassau, Bahamas.

VINCENT L. KING - Liquidator

PAGE 6, Wednesday, February 17, 2021

EXUMA GAINS NEW ‘PORTAL’ VIA $10M MARINA PROJECT FROM PAGE THREE this marina is going to cater to are what I call the fast, sexy fishing boats, so this is going to be a great impact for people who want to get into the fishing guide business and anything to do with the fishing industry.”

Mr Hurt said the project is ready to start once the required approvals are in place. He added that he has been “teed up” and ready to begin construction for the last two years, with full funding in place.

The Marina at Hooper’s Bay will feature 11 villas containing 30-35 hotel rooms when full build-out is completed. The project’s Environmental Impact Assessment (EIA), in outlining the development’s potential economic impact, said: “This five-year project will employ up to 50 Bahamians during construction and up to an additional 25 to 30 residents for continuing services, which will have a positive impact on the Exuma economy.

“The project is expected to have a real estate sales value in excess of $10m.

Additional revenue will be derived from marina slip leases, as well as hotel and restaurant income. The marina will be conveniently located within an estimated 30-minute drive from the Exuma International Airport in Moss Town, and an estimated ten minute drive to George Town.

“The marina is located on land directly across the Queens Highway from the former Bank of Bahamas building, and close to the Exuma Resource Centre, as well as other locallyowned businesses including Darville Lumber, Prime Island Meats, CNK Liquors and Smithy’s Market.

Visitors to The Marina at

Hooper’s Bay are expected to provide increased revenues to these businesses.”

According to the EIA, the Marina at Hooper’s Bay will be developed in two phases. “Phase one will include the acquisition of the [5.6 acre] project site. Also, the construction of the marina, restaurant, retail stores, roads, infrastructure (inclusive of underground utilities) and dry storage for boats will employ 50 Bahamian construction workers,” it said.

This phase is expected to be completed in less than 18 months.

“The Marina at Hooper’s Bay restaurant will be open to the general public for daily operation,” the EIA said. “Anticipated Phase one expenditure is an estimated $2.5m.

“Phase two of the project consists of the construction of the marina villas (approximately 11 villas in total) which make up the 30-35 room hotel. The anticipated sale price of each marina villa will average $600,000 to $900,000 with total gross sales anticipated to exceed $10m.”

There will be 27 marina slips able to support boats between 25 feet to 45 feet in length, together with two dry boat storage facilities. “Other upland developments include a two-storey marina club (restaurant and bar with a pool), office space located near the marina basin, and commercial space with retail shops,” the EIA said.

“The total square footage of the commercial space (inclusive of the Marina Club, office space, marina store and other retail shops) is an estimated 10,000 square feet and is not intended to exceed 17,000 square feet.”

THE TRIBUNE

Entertainment rivals ask: What about us?

FROM PAGE ONE

off Carmichael Road, was open.

Mr Mortimer, voicing optimism that Galleria will receive its own sign-off within the next 48 hours, said he was also seeking clarification from the government’s competent authority as to whether the Mall at Marathon-based complex can open its food concession or whether this is classified as “indoor dining” and therefore prohibited.

Revealing that the company was still determining how many of its 40-50 staff will be recalled when Galleria opens following an 11-month COVID-19 enforced closure, he added that post-pandemic recovery is “not going to be as short as people hope” given the depth of the economic devastation it has inflicted.

Mr Mortimer, warning that all Bahamians and businesses face “a long road” back, said Galleria planned to seize the rebuilding opportunity that will likely soon be handed to it by the government while revealing that the company could have held on for “another three-four months” while remaining closed.

Anticipating that Galleria will face the same 33 percent limit on cinema seating capacity as the Fusion Superplex, Mr Mortimer said of its return: “It’s imminent. We’re in the process of obtaining that [permission] now. I suspect it should be in hand fairly shortly. I think it’s just a matter of time, a day or two. A few more ‘t’s’ to cross and ‘i’s’ to dot.

“I think the COVID19 mitigating effects have

come to a point where we can, with proper protocols, re-open safely albeit at reduced levels. It’s a good thing for the economy and, at the same time, for our staff to be paid and come back to work. It’s a thing on the long road back from where we’ve been.

“We’re waiting for confirmation as to what the definition of indoor dining means in the theatrical sense. We’re seeking that confirmation from the government. We’re waiting to get some sort of idea on what they actually meant by that.”

Food and drink concessions are typically a higher-margin area for cinema businesses than the movie tickets themselves.

Confirmation on whether this area of Galleria’s business can re-open, and the “level of films available” to it, will weigh heavily in determining how many staff are brought back initially.

Mr Mortimer said “a lot of product has already moved to the fall” in terms of new movie releases from the Hollywood studios, which will likely require Galleria to show “a mix of product” - including old and new films - until then.

He indicated movie ticket prices may drop from $10 to $7 as an incentive to customers during that time.

“It’s just finalising the balance of the product and what the re-opening date is going to be,” he added, given that there had been “short notice” of the entertainment industry’s re-opening. “I think the government is going to keep capacity consistent throughout the industry, so it’s going to be 33 percent.”

This will limit a normal 300 seat theatre to around

NOTICE

NOTICE

NOTICE is hereby given that JASON LAGUERRE, of #138 Cordeaux Avenue, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that NOVLETTE ELAINE HANSON ADDERLEY, of Sir Lynden Pindling Estate, P.O. Box N 10289 New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 10th day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE International Business Companies Act (No. 45 of 2000) PPA Investment Ltd (the “Company”) In Voluntary Liquidation Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), PPA Investment Ltd (the “Company”) is in Dissolution. The date of commencement of the Dissolution is 28th January, 2021. Luciane Ribeiro Moreno is the Liquidator and can be contacted at Rua Afonso Braz, 747, AP 41D, Vila Nova Conceição, CEP 04511-011, São Paulo – SP, Brazil. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before the 12th March, 2021.

Luciane Ribeiro Moreno Liquidator

100 customers upon Galleria’s post-COVID-19 return, with Mr Mortimer pointing out that the 10pm curfew will restrict late showings and force schedule changes, with the evening’s final moves having to start at around 7pm-7.30pm to enable staff to clean the theatres and get home.

While acknowledging that the COVID-19 restrictions and health protocols are “not ideal” for Galleria’s operations and financial performance, he told Tribune Business: “It’s better than what it was before. We’ll work with our partners to keep the break even as low as possible while we slowly emerge from this whole COVID-19 pandemic environment.

“It’s still a positive step on the long road back to recovery, which is going to be a while. It’s not going to be as short as people hope. The tourism sector will still be impacted for a while more to come, and if you accept what the Central Bank governor indicated that it will be 2023 and 2024 before we get back to preCOVID levels, it’s going to be a long road back for every business and every Bahamian.

“Ultimately, as the economy improves our business will improve. The old adage of ‘a rising tide lifts all boats’ is true. We could have gone as long as the government wanted to keep us closed, but we didn’t want to do that as it has been a very long time,” Mr Mortimer added.

“If something had happened, and the government needed another month, two months, three months, I think we should have been OK for another three to four months. We’ll move forward from this point.”

Leslie Miller, meanwhile, told Tribune Business that Mario’s Bowling and Family Entertainment Palace would not have lasted “another day” of being

closed while confirming that the letter authorising it to re-open was sent on Friday, February 12, which was the same day confirmation was sent to the Fusion Superplex.

“We’ve got the green light and we’re open tomorrow (today). We’re just waiting for the food to come in from Bahamas Food Services and we’re open for business,” Mr Miller disclosed. “We’re going to recall 58 staff for right now.

We used to be up to 120 but that’s a while ago. Because of the economy tanking we had to let some go and release them.”

While Mario’s will have just under 50 percent of its pre-pandemic staff, and be restricted to 60 percent bowling capacity with 30 of 50 lanes in use, Mr Miller said the venue’s 67,000 square foot capacity and 24-foot high ceilings were ideal for social distancing and minimising COVID-19 risks.

The ex-Cabinet minister and Tall Pines MP, arguing that “nobody can live on $100 per week” from the government-funded unemployment benefit, added: “We’ve been in this cocoon for so long our main concern is that staff members are able to earn a regular pay cheque, so that they can go into the grocery store, catch up in rent, make a car payment and get their lives back to normalcy as a human being instead of being tied down for 11 months.

“I believe that, under the circumstances, if the two doctors, Dr Mitchell and Dr Rolle, had taken a look at our facility earlier we could have been open a couple of months earlier. It’s a pity they did not come and take a look at us before because they were surprised at the amount of space we had.”

The two doctors are advisers to the Government on whether firms are complying with COVID-19 protocols.

Mr Miller, though, said he did not expect 2021 to be “much better than last year” due to the number of Bahamians out of work or with reduced incomes as persons wait for both the national and world economy to recover.

NOTICE NOTICE is hereby given that JASON LAGUERRE, of #138 Cordeaux Avenue, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that EVENS DORCELY, of Sunshine Park, P.O.Box N-9426 New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Wednesday, February 17, 2021, PAGE 7

Land owners threat to airport expansion FROM PAGE ONE

His warning went unheeded, and the North Eleuthera Airport’s construction proceeded in 1959 amid alleged government promises that the commoners would be compensated via a portion of the aircraft landing fees collected.

That, though, never happened even though the airport was expanded by an estimated 150 acres in the 1970s to take it to 2560 acres. The government then came back for more land in the mid-1990s via the 450acre wellfield and, again, in the late 1990s and early 2000s for the 30-acre Harbour Island garbage dump.

Sources familiar with events, speaking on condition of anonymity, said the commoners received “not a cent” for the government’s use of their land, which ultimately resulted in a 1996 legal action against the government on the Harbour Island Commonage Committee’s behalf that was brought by former minister of state for legal affairs, Damian Gomez.

The statement of claim, which has been seen by Tribune Business, alleged that the “licence” which purportedly allowed the government to construct

and operate the North Eleuthera Airport was “unlawful” and breached the 1842 Crown Grant as well as The Commonage Act. The same allegations were repeated in relation to the wellfields and garbage dump.

This newspaper was informed that the legal action petered out as the committee’s membership changed, and letters seeking compensation that were sent to Allyson Maynard-Gibson and Glenys Hanna-Martin, then attorney general and minister of transport and aviation, respectively, in the last Christie administration received no response.

The matter, though, has come to the forefront again due to the planned $65m expansion of North Eleuthera Airport as a part of a series of Family Island airport upgrades.

Tribune Business has seen documents revealing that then government’s land needs increased from an initial 450 acres (including the existing 250 acres) to 550 acres and then to the final 658 acres.

Talks between the Harbour Island Commonage Committee and the government, headed by Algernon Cargill as director of aviation, on establishing

a partnership arrangement between the two sides began in early 2019. The then-plan was to develop and gazzette “rules” that would enable the commoners to licence the airport land to the government.

The 1896 Commonage Act permits at least 20 persons to hold a right in non-partitioned land with others, and have these rights protected. Only registered commoners are allowed to work on or possess this land, meaning that all others - including the government - who encroach on it can technically be treated as trespassers.

Mr Cargill, in a January 23, 2019, e-mail after meeting with the committee, issued them with a proposed site plan for the expanded North Eleuthera Airport and wrote: “The quantity required is approximately 550 acres and not 450 acres as previously advised. The additional land is required to ensure we provide for proper perimeter security and to also provide for any future expansion of the airport.

“We are excited about the opportunity to continue these discussions with the Commonage and, in this regard, anxiously await your feedback as we continue with our planning

efforts. Please note that we will consider every alternative you have provided as we recognise, as we are certain that you do, the importance of this airport to the North Eleuthera and extended communities.”

In a follow-up e-mail two days later, he added that the government was “anxious to continue discussions with the Commonage about the availability of the land required to accelerate our plans for the building of a new airport for the benefit of all of Eleuthera.

“We cannot move these plans to the next level until we have an agreement with the Commonage to make this land available and the considerations expected in return.”

Following a further meeting between the two sides in March 2019, Ms Percentie wrote of her clients: “They are in full support of the expansion of the North Eleuthera Airport and are willing to secure an arrangement with the government for the property outlined on the plan submitted to you at the last meeting held on 19 February, 2019.

“However, as was stressed, the committee is unable to proceed until the rules are first gazetted. I suggest that we all work together towards

an expeditious resolution regarding the rules. I am reviewing the draft rules that we have, and expect to have those finalised by the end of the week.

“I believe that once the gazetting process is in motion and the committee is satisfied that the matter is being given priority, we can begin to formulate an agreement between the parties. This ensures that further time is not lost back and forth and that, once the gazetting process is finalised, the government can move forward with its plans.”

In a July 2019 e-mail to Ryan Sands, a government attorney, Ms Percentie reiterated her clients’ desire for “an amicable settlement”.

She wrote: “To facilitate the airport expansion, the rules must be codified into law. This I am advised is the main focus of the xommittee as they realise that time is of the essence.

“The rules do make provision for the creation of a license agreement between the xommittee and non-commoners. For clarification, non-commoners are not descendants of registered commoners or grantees but, rather, persons who do not fall in the category and therefore have no interest in the

commonage land.

“This category of persons includes the Government of The Bahamas, hence the reason for the inclusion in the rules of some sort of agreement.” However, the government then went silent until April/May 2020 when Mr Cargill revealed that it had reversed course and will now acquire 658 acres via the Acquisition of Land Act rather than the original partnership proposal.

Ms Percentie, in a December 4, 2020, letter to the prime minister said the move had come as “a complete surprise” to her clients “and without any explanation”, as they thought they were in “fruitful discussions” that would “lead to an agreement that would be beneficial for all involved”.

She last night told Tribune Business that a court hearing will take place on February 22 in a bid to force the government to “gazzette” the rules discussed. The committee, which is pursuing multiple legal tracks, also plans to seek the monies the commoners are allegedly owed dating back six decades while also putting the government on notice it could be evicted for trespass.

Activists alarmed over rise in BPC JV interest FROM PAGE ONE from industry counterparties. Gneiss Energy has been formally engaged to assist in managing a formal process to solicit broader industry interest in a farmin alongside this early, positive interest.”

Mr Potter did not reply to Tribune Business phone messages and e-mails before press time last night.

The next key date for BPC is end-March 2021, when it must submit its licence renewal applications to the government ahead of the five southern licences’ expiry at end-June 2021.

The upbeat nature of yesterday’s statement indicates a renewal application is likely notwithstanding the initial Perseverance One results. Suggesting that the findings have further de-risked future Bahamian exploratory oil well drilling, BPC added: “In addition to obtaining an invaluable new sub-surface

dataset which, in BPC’s view, reduces the exploration play risk for any future exploration activities in this frontier province, the well verified the structural model the presence of competent seals, high porosity reservoir and hydrocarbon charge.

“The combination of these play elements points to significant hydrocarbon potential remaining in a number of independent, untested play systems and structures seismically identified from 2D and 3D within BPC’s extensive acreage extending over its four southern exploration licences covering approximately 12,000 square kilometres - 4,700 square miles or three million acres).

“This extensive assessment will allow the company to fully integrate the new Perseverance well data into an updated interpretation of the previously mapped prospect and lead inventory accessible

NOTICE Pursuant to the provisions of Section 138 (4) (a), (b) and (c) of the International Business Companies Act, 2000, notice is hereby given that:(a) C.B. STRATEGY LTD. is in dissolution; (b) the date of commencement of the dissolution is the 12th day of February A.D., 2021 and (c) the Liquidators are Christine Russell and Mauro Casu, of Corner Bank (Overseas) Ltd. with Registered Offices in The Bahamas at Sassoon House, Shirley Street and Victoria Avenue, Nassau, Bahamas Christine Russell and Mauro Casu Liquidators

within the licences, and more accurately inform and direct the focus of the company’s forward strategy within its Bahamian exploration acreage portfolio.”

While BPC’s immediate attention is switching to its assets in Trinidad & Tobago and Suriname, BREEF’s Ms McKinney argued that “it doesn’t seem appropriate for BPC to be speculating about future drilling activities in Bahamian waters” when it has yet to settle outstanding licence fees due to the Public Treasury.

She added: “Given that

the world is moving away from fossil fuels at an accelerating pace, it is highly unlikely that any oil company would be interested in drilling a new wellfield in the pristine waters of The Bahamas, especially considering that there would continue to be huge local and global public opposition to any further drilling.”

A further hint that BPC is not abandoning The Bahamas comes from the fact it is still proceeding with today’s Supreme Court hearing where it will argue that its environmental activist opponents

should be required to lodge a $200,000 performance bond to cover its legal costs should their Judicial Review challenge ultimately be unsuccessful.

BPC is urging that Save the Bays and Waterkeepers Bahamas pay this sum before the oil explorer has to go to “the substantial costs” of preparing for a full trial. However, the activists are countering that they have “a genuine and arguable case brought in the public interest”.

They are arguing: “It is respectfully submitted that it would do justice between

the parties to allow the applicants to continue to pursue their case on the basis that there are in existence assets (whether those of Save the Bays itself or of the Government of The Bahamas via garnishee proceedings) against which BPC will certainly be able to satisfy any costs order.

“There is therefore no risk to BPC of irrecoverable loss in this case continuing without an order being made. On the contrary there is a real risk of injustice (contrary to the public interest) if the security for costs order is made.”

MARKET REPORT www.bisxbahamas.com

TUESDAY, 16 FEBRUARY 2021

BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 4.70 33.05 2.00 2.35 2.10 6.00 6.90 3.55 6.15 4.33 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.00 16.00

52WK LOW 3.13 22.65 0.67 1.62 1.50 5.00 6.00 2.70 4.27 3.10 5.50 10.20 2.10 4.75 9.50 7.70 13.00 3.50 8.15 14.00

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Bahamas Limited Focol Finco J. S. Johnson

CLOSE

CHANGE

1965.13

1.34

52WK LOW 100.00 100.00

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.07 -127.33

-6.09

CLOSE 4.58 32.12 1.62 2.35 1.59 6.00 6.61 2.93 4.74 3.10 5.60 10.20 2.65 6.80 9.96 8.40 13.50 3.75 8.35 15.50

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1320294 BSBGR1321391 BSBGR1322498

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

BAHAMAS GOVERNMENT STOCK - (percentage pricing) Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BSBGR1320294 BGRS FX BSBGR1321391 BGRS FX BSBGR1322498

YTD%

LAST CLOSE 4.50 32.12 1.62 2.35 1.59 6.00 6.61 2.93 4.74 3.10 5.60 10.20 2.66 6.80 10.06 8.40 13.50 3.75 8.35 15.20

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

YTD

(242) 323-2330 (242) 323-2320

.

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

%CHANGE

CHANGE 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.01) 0.00 (0.10) 0.00 0.00 0.00 0.00 0.30

VOLUME 12,048 15,000

10,000

2,000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 19.2 34.5 N/M N/M N/M N/M 17.9 -6.7 33.9 16.8 12.5 14.1 26.0 14.6 15.4 11.5 16.5 18.5 8.9 24.6

YIELD 3.71% 3.92% 1.23% 1.28% 0.00% 0.00% 3.93% 0.00% 0.00% 3.87% 3.93% 7.06% 16.38% 0.88% 3.29% 2.86% 4.00% 3.20% 2.40% 3.94%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

MATURITY

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.81% 5.29% 5.65%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Oct-2029 15-Oct-2039 15-Oct-2049

MUTUAL FUNDS

NOTICE Pursuant to the provisions of Section 138 (4) (a), (b) and (c) of the International Business Companies Act, 2000, notice is hereby given that:(a) C.B. MANAGEMENT LTD. is in dissolution; (b) the date of commencement of the dissolution is the 12th day of February A.D., 2021 and (c) the Liquidators are Christine Russell and Mauro Casu, of Corner Bank (Overseas) Ltd. with Registered Offices in The Bahamas at Sassoon House, Shirley Street and Victoria Avenue, Nassau, Bahamas.

Christine Russell and Mauro Casu Liquidators

52WK HI 2.39 4.43 2.14 201.90 184.85 1.69 1.85 1.78 1.24 8.49 10.26 7.28 13.91 12.84 10.81 10.00 10.20 13.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.66 1.79 1.75 1.05 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.39 4.43 2.14 201.90 184.85 1.68 1.79 1.76 1.05 8.49 10.03 7.28 13.91 12.84 10.05 N/A 10.20 13.79

YTD% 12 MTH% 4.55% 4.55% 1.58% 1.58% 2.60% 2.60% 3.47% 3.47% 10.86% 10.86% 1.03% 1.03% -3.14% -3.14% 0.26% 0.26% -12.29% -12.29% 1.76% 1.76% -1.97% -1.97% 4.91% 4.91% 5.28% 15.75% 0.05% 3.96% -0.35% -6.34% N/A N/A 8.60% 8.60% 11.90% 11.90%

NAV Date

31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

THE TRIBUNE

Wednesday, February 17, 2021, PAGE 9

JOBLESS BENEFITS TO STRIKE $230M FROM PAGE ONE

2020 amid the economic devastation inflicted on tourism and other industries

by COVID-19’s lockdowns.

The government expected it to last only until June 2020, but once NIB’s 13 weeks of payments stopped it was forced to provide unemployment benefits assistance itself.

Mr Rolle said the government has also decided not to lay-off any public sector

Fisherman urges ‘crack down’ on Florida vessels FROM PAGE ONE

“It creates an unlevel playing field for those who are engaged in lawful fishing. I note that more than $400bn in lost revenue results from IUU fishing and it puts fish stocks at risk so this is an economic, a maritime governance and an environmental crisis.”

Asked about officials’ plans to assist small island developing states in the Caribbean to tackle the issue, vice-admiral Poulin replied: “We have a number of existing bilateral agreements with many of the Caribbean nations and one of the things we’re doing is looking at how we might expand

workers. He added that the Cabinet decided against it and, even though some agencies are “overstaffed.

He added: “Just over 1,000 individuals leave the public service every year and we’ve not increased that number. We’ve not increased the number of persons entering the public service either. So individuals are trying to at this time to keep a job. This is the environment in which we live.”

The government also last night pledged that it

will start paying all monies owed to Airport Authority workers over a six-month period starting with the March pay period. The Ministry of Tourism, in a statement, said it was “fully committed to honouring all agreed terms of the industrial agreement, and this has been communicated”.

It added: “The current financial constraints we face as a result of COVID19 and its impact on our economy did not make it possible to honour these

some of those agreements to include IUU fishing.

“The agreements that we have provide a strong baseline for us to continue to work with these nations to expand maritime domain awareness which is so vital to understanding the nature of the problem in the Caribbean.

“We often have Coast Guard Cutters and maritime control craft in the area because of our counter-drug efforts, and in that context our counter-drug efforts can help us understand patterns and trends of all kinds of maritime conveyances and that’s one of the ways we are expanding our awareness of IUU fishing in different parts of the hemisphere is to use our Coast Guard assets that are already down there on patrol to not only leverage their capabilities for the counter drug threat but also all threats to the region.”

Vaccine delays leave grocery workers feeling expendable

To advertise in The Tribune, contact 502-2394

Associated Press AS panicked Americans cleared supermarkets of toilet paper and food last spring, grocery employees gained recognition as among the most indispensable of the pandemic’s front-line workers.

A year later, most of those workers are waiting their turn to receive COVID-19 vaccines, with little clarity about when that might happen.

A decentralised vaccine campaign has resulted in a patchwork of policies that differ from state to state, and even county to county in some areas, resulting in an inconsistent rollout to lowpaid essential workers who are exposed to hundreds of customers each day.

“Apparently we are not front-line workers when it comes to getting the vaccine.

That was kind of a shock,” said Dawn Hand, who works at a Kroger supermarket in Houston, where she said three of her co-workers were out with the virus last week.

She watches others getting vaccinated at the in-store

payments, and we ask for the continued patience of the Airport Authority and its employees as we rebuild our economy stronger and continue to demonstrate our promise to protecting jobs.

“The Airport Authority generates its revenue from the travelling public by way of collection of security and related travel fees at the Lynden Pindling International Airport (LPIA) and our 28 Family Island airports.

pharmacy without knowing when she’ll get her turn.

Texas is among several states that have decided to leave grocery and other essential workers out of the second phase of its vaccination effort, instead prioritising adults over 65 and people with chronic medical conditions.

Focusing on older adults is an approach many epidemiologists support as the most ethical and efficient because it will help reduce deaths and hospitalisations faster.

People over 65 account for 80% of deaths in the country, according to the Centers for Disease and Control Prevention.

“Our main goals with vaccines should be reducing deaths and hospitalisations,” said William Moss, executive director of the International Vaccine Center at Johns Hopkins University School of Public Health. “In order to do that, we need to begin vaccinating those at the highest risks.”

But many grocery workers have been surprised and disheartened to find that they’ve been left out of such policies, in part because a

“Despite a steep decline in revenue to only a fraction of what is required to honour our commitments, we have retained all of our 600-plus employees on full pay, notwithstanding the fact that the majority are working a significantly reduced work week,” the Ministry continued.

“Specifically, all employees, with the exception of the airport screening and security departments, have been working approximately 20 hours weekly, with

CDC panel had raised their expectations by recommending the second phase of the vaccine rollout — 1B — include grocery and other essential employees.

Even when grocery workers are prioritised, they still face long waits. New York opened up vaccines to grocery workers in early January, along with other essential employees and anyone 65 and over. But limited supply makes booking an appointment difficult, even more so for the workers who don’t have large companies or unions to advocate for them.

Edward Lara had to close his small grocery store — known as a bodega — in the Bronx for 40 days when he and his employees contracted the virus last spring.

He has tried for weeks to get a vaccine appointment and finally figured out he could register through the website of a network of health care providers, which will notify him when a slot opens.

Lara’s father-in-law died of the virus in March.

His mother-in-law died in November. Last week, a friend who manages his

full pay, and during the peak of the pandemic. Most were not required to work at all as the airports were closed or operating on extremely limited schedules.

“As demonstrated, we have strongly resisted furloughing employees and/or terminating anyone because of the pandemic as we see the engagement of all of our employees as a part of the solution on our road to recovery and maintaining economic stability.”

bodega’s insurance policy also died. And a cousin in New Jersey got the virus for a second time, leaving him terrified it could happen to him.

“Nothing to be done.

Cross my fingers and hope that God protects me,” Lara said after registering for the waitlist.

Only 13 states are currently allowing grocery workers to sign up for vaccines, according to the United Food and Commercial Workers union, which represents 1.3 million US grocery, meatpacking and other front-line workers.

Some states are still working through an initial phase that prioritises health workers and nursing home residents. Many states have divided the second phase into tiers that put grocery workers lower than others, including people 65 and over, teachers and first responders.

Eleven states have no clear plan for prioritising grocery workers at all, according to research from United 4 Respect, a labour group that advocates for workers at Walmart, Amazon and other major retailers.

PAGE 10, Wednesday, February 17, 2021

THE TRIBUNE

BUFFETT’S FIRM REVEALS NEW INVESTMENTS IN VERIZON, CHEVRON OMAHA Associated Press

WARREN Buffett’s company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio last year.

Berkshire Hathaway Inc said in regulatory filings yesterday that it bought $8.6bn worth of Verizon stock and picked up $4.1bn worth of Chevron shares over the last six months of 2020. Berkshire’s holdings are followed closely because of Buffett’s

while his company was building the stake. Separately, Berkshire also more than doubled the size of a smaller investment in competitor T-Mobile during the fourth quarter, which now includes 5.2 million shares worth roughly $700m.

Berkshire was also able to delay reporting its new investment in Chevron.

Buffett’s company now holds 48.5 million shares of the oil industry giant.

In addition to those large new investments, Berkshire also revealed a new stake in professional services firm Marsh & McLennan that’s worth roughly $499m.

Berkshire officials don’t

WARREN BUFFETT remarkably successful investing record.

Berkshire bought nearly 147 million Verizon shares, but the Securities and Exchange Commission allowed Buffett to delay disclosing the new stake in the cell phone giant

generally comment on these quarterly filings. And the document doesn’t make clear which investments Buffett made. The billionaire handles the biggest investments in Berkshire’s portfolio, such as Apple, Coca-Cola and Bank of America. He has said that investments of less than $1b are likely to be the work of Berkshire’s two other investment managers.

For the second quarter in a row, Berkshire reduced its giant investment in Apple, but the tech giant remains Berkshire’s largest holding worth roughly $109bn. Berkshire still holds 944 million shares of

the iPhone maker.

In addition to the three new investments, Berkshire also added to its relatively new holdings in drugmakers Bristol Myers Squibb, Abbvie and Merck. Those were all first disclosed last fall. Berkshire also increased its investment in Kroger, so his stake in the grocery giant is now worth just over $1bn.

Buffett’s company slashed its holdings in Wells Fargo even further in the fourth quarter down to 52 million shares from what was once a 10% stake in the bank. Berkshire also eliminated investments in JP Morgan Chase, M&T

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 76° F/24° C Low: 66° F/19° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Partly sunny; breezy, warm, humid

Partly cloudy with a shower late

A shower in spots early; breezy

Warm; a t‑storm late

Windy and cooler; a morning shower

Windy, limited sun; a stray shower

High: 85°

Low: 73°

High: 83° Low: 72°

High: 85° Low: 68°

High: 75° Low: 67°

High: 77° Low: 68°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

87° F

72° F

87°-73° F

89°-67° F

76°-63° F

76°-65° F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

almanac

E

W

ABACO

S

N

High: 80° F/27° C Low: 73° F/23° C

8‑16 knots

S

WEST PALM BEACH High: 83° F/28° C Low: 74° F/23° C

8‑16 knots

FT. LAUDERDALE E

W

FREEPORT

High: 82° F/28° C Low: 76° F/24° C

N

S

E

W

High: 81° F/27° C Low: 73° F/23° C

MIAMI

High: 82° F/28° C Low: 76° F/24° C

7‑14 knots

KEY WEST

High: 82° F/28° C Low: 76° F/24° C

High: 85° F/29° C Low: 73° F/23° C

Forecasts and graphics provided by AccuWeather, Inc. ©2021

High: 80° F/27° C Low: 74° F/23° C

N

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

tiDes For nassau High

Low

Ht.(ft.)

Today

11:29 a.m. ‑‑‑‑‑

2.2 ‑‑‑‑‑

5:32 a.m.

5:45 p.m.

0.3 0.1

Thursday

12:03 a.m.

12:12 p.m.

2.3 2.0

6:21 a.m.

6:27 p.m.

0.4 0.2

Friday

12:52 a.m.

1:01 p.m.

2.3 1.9

7:15 a.m.

7:15 p.m.

0.6 0.3

Saturday

1:46 a.m.

1:57 p.m.

2.2 1.8

8:15 a.m.

8:08 p.m.

0.7 0.3

Sunday

2:44 a.m.

2:57 p.m.

2.3 1.8

9:16 a.m.

9:05 p.m.

0.6 0.3

Monday

3:41 a.m.

3:56 p.m.

2.4 1.8

10:15 a.m. 0.5 10:02 p.m. 0.2

Tuesday

4:36 a.m.

4:51 p.m.

2.5 2.0

11:07 a.m. 0.4 10:56 p.m. 0.0

sun anD moon Sunrise Sunset

High: 81° F/27° C Low: 75° F/24° C

N

S

E

W S

7‑14 knots

6:43 a.m.

6:05 p.m.

Moonrise Moonset

10:19 a.m.

11:25 p.m.

First

Full

Last

New

Feb. 19

Feb. 27

Mar. 5

Mar. 13

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 81° F/27° C Low: 74° F/23° C

High: 81° F/27° C Low: 76° F/24° C

N

High: 81° F/27° C Low: 74° F/23° C

E

W S

LONG ISLAND

tracking map

High: 82° F/28° C Low: 75° F/24° C

8‑16 knots

MAYAGUANA High: 82° F/28° C Low: 74° F/23° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 81° F/27° C Low: 75° F/24° C

L

Ht.(ft.)

CAT ISLAND

E

W

8‑16 knots

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 84° F/29° C Low .................................................... 75° F/24° C Normal high ....................................... 77° F/25° C Normal low ........................................ 64° F/18° C Last year’s high ................................. 83° F/28° C Last year’s low ................................... 70° F/21° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 1.86” Normal year to date ..................................... 2.20”

ELEUTHERA

NASSAU

To advertise in The Tribune, contact 502-2394

uV inDex toDay

TONIGHT

High: 75° F/24° C Low: 70° F/21° C

Bank and Barrick Gold.

In addition to investments, the Omaha, Nebraska-based Berkshire owns more than 90 companies outright, including BNSF railroad, Geico insurance and several major utilities. The conglomerate also owns manufacturing, furniture, shoe, jewelry, chocolate, underwear and brick companies.

H

High: 81° F/27° C Low: 75° F/24° C

GREAT INAGUA High: 83° F/28° C Low: 76° F/24° C

N

E

W

E

W

N

S

S

8‑16 knots

10‑20 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS SE at 8‑16 Knots SE at 10‑20 Knots SE at 8‑16 Knots SE at 8‑16 Knots ESE at 8‑16 Knots SE at 10‑20 Knots ESE at 10‑20 Knots E at 10‑20 Knots SE at 7‑14 Knots SE at 8‑16 Knots SSE at 8‑16 Knots SSE at 10‑20 Knots SE at 7‑14 Knots SE at 8‑16 Knots E at 10‑20 Knots E at 10‑20 Knots ESE at 8‑16 Knots ESE at 10‑20 Knots E at 10‑20 Knots ESE at 10‑20 Knots SE at 8‑16 Knots SE at 8‑16 Knots SE at 8‑16 Knots ESE at 10‑20 Knots SE at 8‑16 Knots SE at 10‑20 Knots

WAVES 3‑6 Feet 4‑8 Feet 1‑3 Feet 1‑3 Feet 3‑5 Feet 4‑7 Feet 4‑7 Feet 4‑8 Feet 3‑5 Feet 4‑8 Feet 1‑3 Feet 3‑5 Feet 1‑3 Feet 2‑4 Feet 3‑6 Feet 4‑8 Feet 3‑5 Feet 3‑6 Feet 5‑9 Feet 6‑10 Feet 1‑3 Feet 2‑4 Feet 3‑5 Feet 4‑7 Feet 2‑4 Feet 3‑6 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 76° F 76° F 77° F 78° F 78° F 78° F 79° F 79° F 76° F 76° F 79° F 80° F 77° F 78° F 80° F 80° F 79° F 79° F 81° F 81° F 77° F 77° F 79° F 78° F 77° F 77° F