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MONDAY, APRIL 4, 2022

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Multiple investors target Athol Island

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net MULTIPLE Bahamian investors yesterday confirmed they are targeting Athol Island with tour and beach break destination proposals that one said could create up to 100 jobs if approved.

Al Collie, developer of West Bay Street’s Club Luna and formerly the Zoo, told Tribune Business that The Bahamas needs “to spruce things up” with refreshed excursions and attractions for both cruise ship and stopover visitors as he confirmed plans to develop the existing Crown Land

ATHOL ISLAND site he leases from the Government.

With a seawall already under construction (see photo), he added that he was now seeking the necessary Town Planning, environmental and other approvals to develop the

parcel via an investment that may now reach $2m and create some 100 jobs for Bahamians.

However, Mr Collie is far from alone in eyeing Athol Island as a beach break destination. Tribune Business’s interest

• Eyed as tour/ beach break site for tourism rebound • One says ‘spruce up’ may create up to 100 jobs • Investments could range between $1m-$2m in the island, which lies 0.75 miles east of Paradise Island and was once eyed by former Atlantis

SEE PAGE 7

‘Prosperity on paper’ must reach the street

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE BAHAMAS must ensure “prosperity on paper trickles down” to the street level so that persons feel the impact from rising GDP in their daily lives, a well-known accountant has asserted.

Craig A. ‘Tony’ Gomez, the Baker Tilly Gomez managing partner, told Tribune Business that improved economic output (gross domestic product or GDP) post-pandemic will have little meaningful impact for “the average Bahamian” unless they, too, experience

CRAIG A. ‘TONY’ GOMEZ improved incomes and living standards.

Speaking after the Bahamas National Statistical Institute revealed that real GDP expanded by 13.7

SEE PAGE 9

Bahamas in modest financial centre rankings improvement

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE BAHAMAS has improved its ranking in a key financial centre index by four spots after plummeting 26 places in 2021, it has been revealed.

This nation was placed 95th out of 119 financial centres rated in the annual Global Financial Centres Index (GFCI), just published by Z/YEN, representing a modest improvement on 2021 when it fell to 99th from 73rd the prior year. Its rating, which fell by 51 points in 2021,

rose by 11 from 540 to 551 to move The Bahamas one spot ahead of major international financial centre (IFC) rival Bermuda.

“Mexico City leads in the region, with Rio de Janeiro remaining in second place.

Sao Paulo, Cayman Islands, Santiago, Bogota and The Bahamas improved their position in the index.

Other centres fell back, and Buenos Aires, Barbados and Panama fell over ten places in the rankings,” the survey said of the Latin American and Caribbean financial centres.

SEE PAGE 4

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Decide Freeport’s post-2054 direction ‘within next 5 years’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net AN EX-GRAND Bahama Port Authority (GBPA) counsel says The Bahamas must within “the next five years” determine the direction that Freeport takes once the Hawksbill Creek Agreement expires in 2054.

Carey Leonard, calling on the Government, GBPA, private sector and all other stakeholders to engage in long-term planning, told Tribune Business that even though there are 32 years before Freeport’s founding treaty ends it was critical to give investors and business certainty now.

With many eyeing longterm returns, he argued that The Bahamas needed to define Freeport’s postagreement future, develop any legislative and other reforms that are necessary, and pass/implement them within a 15-year period to give commerce more than a decade’s advance warning

of what to expect come 2054.

“I think it’s important and we should be looking at having some form of idea on how we navigate, or where we want to go, within five years,” Mr Leonard told this newspaper. “I would have it where we set out the principal ideas of what we want to achieve in five years. The following five years, we should start writing up laws on how to implement that, and then pass the legislation for it over the next five years.

“It gives business 10 years or more to prepare for it, and anyone coming in can see where we’re going after 2054.” That date seems faroff, and the Government typically finds it difficult to plan for anything beyond a five-year election cycle, but in Freeport’s case Mr Leonard argued it was vital that The Bahamas get ahead of the curve and set-out the city’s long-term future given the potential it still holds as an economic driver.

SEE PAGE 10

PAGE 2, Monday, April 4, 2022

THE TRIBUNE

FUEL COST SURGE TO HIT CONSTRUCTION SITE RIDE

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net CONTRACTORS may no longer give their workers rides between home and the job site in a bid to counteract higher fuel costs, the Bahamas Society of Engineers (BSE) president has warned.

Quentin Knowles told Tribune Business he sees the construction sector opting to forego picking up workers and tradespersons in a bid to conserve on gasoline which has soared to over $6 per gallon at two of New Providence’s three distribution chains.

Construction is likely to be among the hardest-hit sectors because of longestablished practices that involve transporting manpower and materials to the various job sites, as well as running generators to provide electricity. “Even before the fuel price rise we had been having problems with the high cost of materials, and with the rise of inflation, and now we have this thing going on in the Ukraine, which is making the situation much worse,” Mr Knowles said.

“We need to get resources to and from the site, we need to deliver material. I can only imagine for those large construction companies where they have hundreds of people that require transportation to and from the site. I know that expense is more than what they anticipated. So we just have to respond and take different approaches, and the smaller companies have to do what they have to do.”

Philip Darville, owner/ operator of SolveIT, said: “Since the pandemic we have opted to do things remotely now and, in the US, a lot of the top-tier companies have opted for this and have shifted towards a permanent work from home basis, so we have kind of used that as our focus.

“For the most part we will remain working remotely, and I think a lot of companies need to look into that.

But, in this country, we have an ‘Indian chief’ mentality where you have to look at a person physically to judge their productivity. But, when technology increases, productivity increases as well.”

Offices should at least consider “hybrid” work situations since gasoline is becoming so expensive, said Mr Darville. “You can have your office phone redirected to your mobile

phone or at home, so we can weather this financial endemic bearing down on us if we manage it right,” he added.

Gregory Sherman, owner/operator of G.S. Landscaping Company & Property Management, said: “We have a weights and balance kind of thing, I have my existing customers, and then I have my new customers that I give the new prices.”

Mr Sherman said he has had to increase his prices by about 20 percent. “A job that used to cost $200, I now charge $245,” he said. “The difficulty is we don’t know how long this is going to be like this. I just changed my prices one time and have no intention of changing them every time gasoline goes up. I don’t want to price myself out of the market, but everything costs money as everything associated with fuel has gone up.”

Landscaping companies need gasoline to run their lawnmowers and oil their machines. Mr Sherman said he now goes out early in the morning to fill his vehicles and mowers, as it is “the best time” to refuel your vehicle. “There is little to no traffic on the road, and you can move freely to wherever you have to go.

I am on the road at 5am in the morning now, and try to finish the bulk of my work before 12pm in the afternoon, so by the late afternoon I am just cruising along,” he added.

Manera Rolle, owner/ operator of Willows Wheelz, said: “The price of oil just went up last week, so how could they be raising the price of gasoline already? They should have stocks they are still using before the fuel price rise.

This should have been at least another four weeks away.”

“What we have done is we buy a lot of fuel efficient cars now to help soften the impact on our fuel costs. We also started taking deposits on all transactions, because we had a three-day special where my $40 cars I would rent for $90, but we had to change that because people were bringing my cars back on empty. We just can’t do that any more’ we have to charge the full $120.

“I’m a person that likes to give people a full tank of gasoline, but I must get my money back if they want to drive it all out and not refill the tank. But even now it costs me $50 to fill up a Nissan March, when it only cost $35 a month ago, and with a Nissan Note $50 only gets me three-quarters of a tank.”

THE TRIBUNE

Monday, April 4, 2022, PAGE 3

Sanctioned resort principal’s project hearing put ‘on hold’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net TOMORROW’S public hearing on a $60m Cat Island resort project, whose principal last week agreed to accept US sanctions over his role in a purported multimillion investment fraud, has been placed “on hold” by the Government.

A spokesperson for the Prime Minister’s Office yesterday confirmed that the Department of Environmental Planning and Protection (DEPP) virtual meeting on the Almost Paradise development’s Environmental Impact Assessment (EIA) will not take place as scheduled following Tribune Business revelations about the promoters’ background.

“The public hearing has been placed on hold as the matter is under review after the administration learnt of

the situation,” the spokesperson said. “The public hearing supposed to be with the DEPP has been placed on hold and the matter is under review.”

The move comes after this newspaper revealed that Almost Paradise’s principal investor, Manjit Singh ‘Roger’ Sahota, has consented to a lifetime ban on “acting as an officer or director of a publicly-held entity” as well as a permanent bar on involvement with corporate vehicles in the US oil and gas industry that are offering securities to investors.

Besides agreeing to these “permanent injunctions”, the Securities & Exchange Commission (SEC) also informed the north Texas federal court on Wednesday, March 30, that Mr Sahota will “disgorge” all ill-gotten gains from the scheme and pay interest on this sum, as well as having a further

fine imposed on him. The amount he must pay is to be determined at a future court hearing, with the “disgorgement” sum potentially reaching as high as $54m.

The agreed judgment, which also bans Mr Sahota for life from further violations of US federal securities laws, was reached without the Almost Paradise resort principal “admitting or denying” the accusations levied against him. The documents detailing the “consent judgment” were signed by Mr Sahota on March 25, 2022, but this has yet to be approved by the North Texas federal court.

The legal filings came one day after Tribune Business exclusively revealed the controversy engulfing Mr Sahota and his family after they were alleged to be the largest recipients of funds from what the SEC, the US capital markets regulator, branded as “an oil

and gas offering fraud conducted over three years” by an entity called Heartland Group Ventures.

Mr Sahota reportedly told other media he and his family are “not backing out” of the $60m Almost Paradise project having “settled” with the SEC. However, he disclosed none of the lifetime bans, sanctions and forfeitures agreed to, and this will likely make it very hard for the Government to give the go-ahead to a project targeted at Prime Minister Philip Davis’ own constituency.

Mr Sahota’s wife, Harpit, and sons Monrose and Sonny, are all named as “relief defendants” in the SEC’s lawsuit because they either attended field trips used to promote the projects to Heartland investors or held corporate positions with the three family companies. It is uncertain whether the “consent judgment”

agreed to by Roger applies to them also.

Magistrate Judge Hal Ray, in a March 18, 2022, verdict that rejected the Sahota’s bid to remove or adjust the freeze on their assets, noted: “On cross examination, Sunny Sahota testified his family could not have purchased the airplane, helicopter and properties in The Bahamas but for the $54m they received from Heartland.”

The SEC is alleging that $1.5m of the Heartland monies received by the Sahotas was used to acquire their existing Cat Island rental properties. And the court-appointed Heartland receiver is already moving to sell the family’s private jet and helicopter to recover funds for defrauded investors as the Sahotas have insufficient assets to cover what is owed.

This all raises the possibility that the receiver may

seek to seize the family’s existing Cat Island holdings to recover the $1.5m invested, although it would likely have to initiate legal proceedings in The Bahamas to do so. The 50-acre site for Almost Paradise, the purchase of which this newspaper understands has yet to close, may also be financed

by Heartland monies, which could expose a prime investment property to also being seized by the receiver.

The Sahotas have vehemently denied the allegations against them.

But the SEC, describing Heartland as a classic Ponzi scheme, in which new investor monies were used to repay those who had been lured in earlier, claimed that its principals “ignored red flags” regarding Roger Sahota’s previous oil and gas projects and use of investor funds.

SEE PAGE EIGHT

Cat Island urges: Do ‘due diligence’ on $60m resort

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net CAT Island business owners are urging the Government to conduct proper “due diligence” on a $60m resort project after its principal developer accepted US sanctions over his role in a $122m investment fraud.

Jason Russell, owner/ operator of Favor’s Service Centre, Old Bight, told Tribune Business that the island needed the economic boost from a project such as the proposed Almost Paradise resort. “Where they are putting the resort, nothing is there at all. The land is behind God’s back almost, so that’s no problem at all,” he added.

However, he raised concerns about its principal, Manjit Singh ‘Roger’ Sahota, consenting to a lifetime ban on “acting as an officer or director of a publicly-held entity” as well as a permanent bar on

involvement with corporate vehicles in the US oil and gas industry that are offering securities to investors. This came after he was charged in the US, along with others, by the Securities Exchange Commission (SEC), the capital markets regulator.

“The Government shouldn’t leave whether this project should proceed or not to us to decide, because they have their policies and they should work within their policies. When they do a background check and these fellas aren’t straight, then they shouldn’t let them in here,” Mr Russell said. “Tell government don’t put that jive on us.

Tell them to do their due diligence, and if they say this guy is in a scandal, do their investigation. If he is guilty, don’t let him come in here.

“We need to make it known to government that Cat Islanders are saying that they need to do their due diligence. Don’t leave it to Cat Islanders to make the decision, because people

need jobs badly, and they will say to let this investor come in. But I don’t care how much money you have.

If you are wicked and you have scandals, then I don’t need you here because eventually it will spill over.”

Denise Bethel, owner/ operator of Hidden Treasures Restaurant in New Bight, said: “If the project is real then I welcome it, and we welcome any project that’s going to provide employment for the island. Cat Island is not like the other islands like Abaco and Exuma, where in those islands the economy is boosted by tourism, and so we welcome that sort of thing on Cat Island.”

As for Mr Sahota’s legal woes, she added: “Whoever had the dream or idea to boost the economy of Cat Island, it was a great idea, and the money he invested is like any other investor.

He saw an opportunity and it went belly up, so he probably made the wrong choice. I do commend him for looking at Cat Island

and trying to pump money into the community.

“I just hope Cat Islanders can benefit from what comes next, whether it proceeds or it goes to the market, whether another investor takes it over or the Government decides to scrap the project. We just have to wait and see. I’m just hoping the US courts get their money back from Mr Sahota’s private assets and leave Almost Paradise alone.”

Grace Dorsette, owner/ operator of the Bluebird Restaurant and Bar, added: “I think this project will be good and it will be bad. It would be good because people would get some much-needed jobs, but it

would be bad because with these investments comes the crime and the violence.

Cat Island doesn’t need that. This is a peaceful place and we don’t need it disturbed.

“The children today are not like us when we were

growing up. It’s like they can’t settle things peacefully. Everything is a fight, and if it’s a fight then they want guns and they want knives. I would appreciate the business, but as I said it would be good and it would be bad.”

PAGE 4, Monday, April 4, 2022

THE TRIBUNE THE BAHAMAS delegation that travelled to the Food Agriculture Organisation’s (FAO) 37th Latin American and Caribbean regional conference in Quito, Ecuador. The conference was held from March 28 to April 1. L to R: Bahamas ambassador to the FAO designate, Winston Pinnock; Clay Sweeting, FAO correspondent; Jeri Kelly-Russell; and acting director of marine resources, Gregory Bethel.

BAHAMAS PARTNERS WITH REGION ON FOOD SECURITY A CABINET minister says The Bahamas will be partnering with several Caribbean countries to improve this nation’s food security following a regional agriculture conference.

Clay Sweeting, minister of agriculture, marine resources and Family Island affairs, said in a statement that the 37th Latin American and Caribbean Regional Conference (LARC) of the Food and Agriculture Organisation (FAO) held in Quito, Ecuador, from March 28 to April 1 had been fruitful for The Bahamas .

“I am very excited to say that the UNFAO conference was very successful,” he added. “We were able to create not just linkages with other Caribbean countries, but also friendships. So countries such as Jamaica, which has been really innovative in creating agribusiness throughout their country, will work with The Bahamas to create a futuristic agribusiness centre.

“Farmers are businessoriented persons and this Agribusiness Department

– that has been stated in our blueprint for change – will really help the farmers to be business-oriented and connected to wholesalers, and put extension officers on the ground. We are excited to work with Jamaica in that respect.

“We are also excited to work along with countries such as Guyana, which are very involved in the agricultural sector. Guyana is also expected to hold a conference in the next two years, and is looking to work with countries such as ours to get involved livestock production,” Mr Sweeting said.

“We are looking to work with Barbados that has been intricate in the black belly sheep industry. So we are working along with them to reduce our country imports – by 25 percent by 2025 – and we are excited about this.”

More than 586 people attended the Ecuador conference including ministers, the private sector, academics, civil society and officials of the United Nations (UN).

Mr Sweeting said Caribbean

countries are working as a unit to promote the blue (ocean) and green (environmentally sustainable) economies.

“We’ve done well to ensure that the Caribbean countries are represented at this conference. We were very involved in making sure the blue and green economies were integrated in the final document for the conference,” the minister added.

“We wanted to make sure that it was innovative, transformative and how climate smart agriculture will be a part of us as a country.

Our agriculture sector only contributes 0.7 percent of our GDP, and we are looking to enhance that. But in order to do that, we must be innovative, involve young people and women, and we must not forget the farmers who created the foundation for us as a country and will also work along with us to do that.”

The Ecuador conference focused on issues that included building sustainable agri-food systems

CARIBBEAN Ministers interact: Avinash Singh, minister in the Ministry of Agriculture, Land and Fisheries in Trinidad and Tobago; Clay Sweeting, minister of agriculture, marine resources and Family Island affairs; and Pearl Charles Jr, minister of agriculture of Jamaica.

Photos:Kendea Smith to ensure healthy diets; the prosperous and inclusive involvement of rural societies; and the use of innovation and digitisation.

Winston Pinnock, The Bahamas’ ambassador to the FAO, said: “I think we have a lot to take back as wins. We came here with no

Caribbean country having a seat at the table in FAO in Rome, and we are fortunate to have the opportunity to serve on the council on the governing body of FAO. “It is a privilege, and we will be on that until 2024.

So we can expect to get a lot more than we have gotten

from the FAO as I will be active in that role, and we are hoping to get a lot more global funding. Minister Sweeting has been very aggressive in leading the charge in transforming agriculture, and we believe we can reduce our import bill as much as possible.”

BAHAMAS IN MODEST FINANCIAL CENTRE RANKINGS IMPROVEMENT FROM PAGE ONE

While The Bahamas was ranked higher than Panama and Barbados, it still finished behind IFC rivals such as the Cayman Islands (76th); Jersey (67th); Cyprus (77th); Guernsey (82nd); Isle of Man (88th); Monaco (80th); Liechtenstein (85th); and British Virgin Islands (92nd).

And, when all financial centres were profiled, The Bahamas was described as a “local specialist” rather than the international status bestowed on all its rival Caribbean and other IFCs. Despite the presence of FTX Digital Markets, the world’s second largest crypto currency exchange, The Bahamas was also

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ranked 107th out of 113 for Fintech or financial technology, dropping six spots in the rankings despite its rating improving by one point.

The low Fintech ranking comes just as the Securities Commission, on March 30, released the draft antifinancial crime rules - to accompany the Digital Assets and Registered Exchanges (DARE) Act for public consultation that will last until April 29, 2022.

“The draft Digital Assets and Registered Exchanges (Anti-Money Laundering and Countering the Financing of Terrorism) Rules 2022 will establish a legislative anti-money laundering (AML) and countering the financing of terrorism (CFT)

framework applicable to digital asset businesses registered under the Digital Assets and Registered Exchanges Act 2020,” the Securities Commission said.

“These draft rules are aligned with international standards and developments with respect to AML/ CFT requirements for virtual asset service providers.

The draft rules establish the mandatory standards with which applicable registrants under DARE must comply in order to implement the requirements of AML/ CFT legislation, including the Financial Transactions Reporting Act 2018, the Proceeds of Crime Act 2018 and the Anti-Terrorism Act 2018.”

THE TRIBUNE

Monday, April 4, 2022, PAGE 5

The economic war

By RICARDO EVANGELISTA

RUSSIA’S invasion of Ukraine is not going as Vladimir Putin expected.

After more than a month of fighting, Moscow’s ‘special operation’ has stalled.

Despite almost 200,000 soldiers, supported by large numbers of armoured vehicles and sophisticated weaponry, Russian forces have been held back by poor planning and logistics, a fierce Ukrainian resistance, and an unusually

united West, whose weapon supplies and intelligence sharing proved decisive in the unfolding of events on the ground.

The Kremlin, frustrated by the absence of an easy victory, which they had very much taken for granted, resorted to heavy and indiscriminate bombardment of

urban centres. The coastal city of Mariupol is a prime example of such tactics, having been pounded into the ground by heavy artillery fire and missile strikes.

But Moscow’s frustration appears to be evolving into some acceptance and pragmatism. Last week, the Kremlin announced

its intention to withdraw troops from several areas in Ukraine, saying that such a move had always been their intention. Apparently, the sieges of Kyiv, Kharkiv and other large cities were part of a strategy to divert Ukrainian forces from the Donbass region, in the east, to allow the consolidation of Russian control over the area. A very cunning plan indeed… except that the rest of the world knows it is not true. The Russians are withdrawing because they were unable to complete

OIL RIG IN SIBERIA their objectives of conquering the cities and hand power to a subservient puppet government.

So, it is fair to say that, against all odds, Russia is, in some ways, losing the war with Ukraine. The

other war, though, meaning the economic one fought against the west, is going surprisingly well for Moscow. The invasion of Ukraine was met

Over 30 are trained on Bahamas food controls MORE than 30 persons have been trained on food control systems as The Bahamas seeks to upgrade health and safety protocols given its import dependence and the sector’s COVID-related expansion.

Representatives from the Bahamas Agricultural Health and food Safety Authority (BAHFSA), the Bahamas Agricultural & Industrial Corporation (BAIC), and the Bahamas Agriculture and Marine Science Institute (BAMSI) attended the four-day workshop in late March that was organised by the Food and Agriculture Organisation of the United Nations (FAO).

The workshop was held against the backdrop of an increase in food services businesses, sparked by the COVID-19 pandemic, and The Bahamas’ heavy reliance on agricultural and food imports. Effective, efficient and sustainable controls in place that ensure food safety, the health of consumers and fair trade practices has thus become even more important, according to the agencies involved.

Workshop participants gained a better understanding of the design and functioning of modern food control systems, and the importance of collaboration among agencies for the

system to work effectively.

Technical assistance in conducting the assessment was provided by FAO experts in food safety and control systems, with support from the BAHFSA. Dr Crispim Moreira, FAO representative for The Bahamas, said: “The Food Control System Assessment was pivotal in enhancing the nation’s preparedness in food safety and public health, while strengthening trade practices and the resilience of food systems and livelhoods.” The Bahamas is the first country in the Caribbean to be undertaking this pilot assessment that uses the FAO/ World Health Organisation (WHO) Food Control System assessment tool.

Clay Sweeting, minister of agriculture, marine resources and Family Island affairs, voiced delight that The Bahamas was one of two countries embarking on using this tool. He said the assessment was necessary to “improve co-operation and co-ordination between the various agencies with responsibility for the agricultural health and food safety system, and to identify key priorities and activities necessary to improve food safety along the entire food chain”.

Mr Sweeting added that there was a need to “continue to empower individuals to fully embrace a culture

of food production, and equip the relevant competent authorities to take on the responsibility of ensuring that food, whether imported or produced locally, is safe and wholesome for consumers”.

The pilot assessment will be taking place in Guyana, with a regional follow-up meeting to share the experiences, lessons learnt, benefits and challenges of assessments with other Caribbean countries.

Workshop participants will begin the actual assessment of The Bahamas’ food control system by gathering information from all relevant food and agriculture authorities in the Bahamas. They then will gather again to endorse recommendations for an improved robust food control system, and develop a framework for action and engaging key decision-makers to ensure commitment and political support.

Dr Moreira said: “Food control is not a country issue but a regional and global issue that requires collective and co-ordination action.

The assessment process is a necessary and vital step in strengthening the country’s and the region’s sustainable agricultural and food value, as well as support to food export markets”.

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SEE PAGE EIGHT

PAGE 6, Monday, April 4, 2022

THE TRIBUNE

MARIJUANA AMBITIONS DAMAGED IF TOO HASTY

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

A MARIJUANA advocate is warning that ambitions to develop medical marijuana and industrial hemp industries could be endangered if “long

overdue” legislation is not implemented effectively.

Terry Miller, chairman of the Bahamas Cannabis Research Institute (BACARI), told Tribune Business that industry stakeholders and the public need to provide feedback on the Bill after it is vetted by the

Davis Cabinet but before it goes to Parliament.

“They have some people who don’t know anything about the marijuana industry. Well, some of them are still learning. But they should, if you want the best legislation, get a wide cross-section of your populace to give feedback,” Mr Miller said. “If they make a

mistake, and they go ahead and do this legislation, and it’s not in the best interest of the Bahamian people, it’s going to come back to haunt them. It is also going to cost us three to five years to fix it.”

Senator Ryan Pinder, the attorney general, said draft legislation to regulate a legalised cannabis industry in The Bahamas is expected to go before Cabinet some time this month. He had originally promised by the end of March, but admitted delays in drafting the legislation.

“I hope the plan is the Cabinet can put out a White Paper for circulation and for us to talk about it,” Mr Miller said. “I like the idea of a hemp farm, and I like the idea of medicinal marijuana. I think anything with medicine is within the best interest of people’s health.

“I would really ask the Cabinet to consider

presenting that legislation to the public before they take it to Parliament.

There’s so many different examples of marijuana laws around the world, and also in the US. There is so much to learn from. We have about 30 different people in our group who have specialities, and some people in our group that specialise in industrial hemp that have done the training in manufacturing industrial hemp products.

“For the doctors that are interested in medical marijuana, we have people in our group who are masters who will look at the legislation as it relates to legalisation.

Mr Miller said he is gravely concerned about an expanding black market for marijuana if the Government decides to decriminalise small amounts of the drug without providing for licences

TERRY MILLER

for legal distributors. “You have to provide licences for marijuana sellers or else it would be useless, and the kids will just go to the black market for marijuana. We need to protect the kids on this,” he added.

“If you legalise medicinal marijuana, and you decriminalise personal use and say you can have an ounce now on your person, but you don’t legalize the sale of it, where do people get it from? They get it from the black market, that’s where.

“The black market is the biggest problem that I have. Because, in the black market, the children are not protected. They’re not protected now that it’s illegal. If we can eliminate the black market by paying those persons who are now in the black market and legalise them, just like we legalised gambling in this country, we would be able to deal with that.”

THE TRIBUNE

MULTIPLE INVESTORS TARGET ATHOL ISLAND FROM PAGE ONE owner, Kerzner International, as a potential golf course location, was sparked when it obtained an Environmental Impact Assessment (EIA), dated November 29, 2021, that was conducted on behalf of a company called Sand Dollar Tours Ltd. A ‘Google’ search for a company with this name proved fruitless, but multiple sources suggested this had been conducted for Mr Collie and his project.

The well-known businessman did not disagree with that when contacted by this newspaper but, subsequently, Mike Darville, nephew of Sunshine Cruise operator, Chris Darville, told this newspaper that Sand Dollar Tours is his company and that he commissioned the EIA. The EIA, performed by JSS Consulting, said: “The island is 960 acres and two miles in length, but the proposed project is on one acre near the eastern portion of the island. The site is currently inhabited and is used for recreational uses such as beaching, jet skiing and a floating bar.”

The project, it said, is seeking the relevant government approvals to construct a 1,900 square foot timber dock; an 800 square foot floating dock; 3,200 square foot deck; and a surveyor’s trail. The beach where this activity will take place is shown as being located on the northern side of Athol Island.

Mr Darville, after stating that his project was separate from Mr Collie’s, indicated that it had been scaled back slightly to focus on construction of the wooden deck and floating dock. Having moved away from initial plans to also construct another dock on Athol Island’s southern shore, he told Tribune Business his likely investment - if the project gets the goahead - will be “just shy of $1m” as he aims “to hire as many people as possible”.

Meanwhile, this newspaper has learned of a third project proposal for Athol Island, which is two miles’ long and part of the National Marine Park. Tony Knowles, chief executive of Pirate’s Revenge, operator of the pirate-themed ship, the Blackbeard’s Revenge, yesterday said he had submitted an application to create a “Treasure Island” destination for guests that would embrace eco-tourism

while preserving historical ruins in the area.

All three told this newspaper that they are aiming to exploit tourism’s revival, and the economy’s post-COVID reopening, especially with the 20,000-30,000 passengers predicted to come through Nassau Cruise Port daily to enhance New Providence’s tour and attractions offerings.

“All we’ve done is construction of a seawall,” Mr Collie said of progress todate at his site. “The former [Minnis] government had given me approval to get started with the things that didn’t involve any engineering... We won’t have any swimming pigs. There’s probably enough of it around.

“It’s a tourist destination.

My feeling is we need some new things for the tourists.

This can give the tourists more opportunities and places to go. If they have been here two, three, four times they have probably seen everything. It’s good for us now and again to spruce things up. The cruise ships want us to do something and we need places for them [passengers] to go.”

Mr Collie said “we have quite a few of the approvals, but not all yet” in order to proceed. “We’re going to employ probably about 100 Bahamians,” he added.

“We’re not going to put in a swimming pool. It will be a beach destination. There will be two sections to it; one on the eastern side of the beach, and one on the western side.”

While initially intending to invest around $1m, he added: “Since the pandemic and all that, I guess it may go to twice as much with the dock and all that kind of stuff. People go there, and it’s amazing how the locals put garbage all over the place. We just started cleaning up there.”

Mr Collie also leases Spruce Cay, better known as Pearl Island, from the Government which is also a beach break/getaway destination for visitors. Tribune Business also reported last year how the Supreme Court had given him 60 days to pay $734,222 in outstanding real property taxes on his Club Luna property or see it sold by the Government, and several sources yesterday questioned why this had not impacted his other Crown Land leases.

The businessman, while declining to comment on the real property tax

Monday, April 4, 2022, PAGE 7

ATHOL ISLAND situation, indicated he was in negotiations with the Government to address the situation and did not want to say anything for fear it would compromise the talks.

Mr Darville, meanwhile, said of his venture: ‘I’m going to be on the north side. It’s more of a tourist attraction. The cruise lines have been pushing, looking for new tour operators for Nassau. I’m trying to develop a new beach programme for them. Guests in town for a few hours, and don’t have time for a full day’s tour, can do something different other than Blue Lagoon.

“It’s going to be a beach tour. The plan is to do a quick 30 minutes beach stop, lie there, take some pictures and then go back to downtown and do shopping or get on the boat.

It’s ideal for the Bahamian experience. It’s not going to be like a bar and food. They get that on the ship, and it’s hard to compete with that.”

Confirming that he was working through the Government approvals process, Mr Darville added: “There’s enough tourists to go around for everybody.

We will have 20,000-30,000 coming in a day at the cruise port. About 40 percent are looking for something to do, and right now in Nassau

there’s a problem with getting people off the ship.

“I just purchased a boat for the property, and between paying environmental fees and the like the investment will definitely get up there. I plan just shy of $1m. I’ve got an investor involved. I’m trying to get up there, not like Blue Lagoon, but eco-scale. I was trying to get Minnis to help me with 12 acres, all the way to the point, but he only gave me one acre” of Crown Land.

“It’s my dream to own a little tour,” Mr Darville added. “I grew up in tourism through my family, so I hope to establish operations here in Nassau.” Mr

Knowles, too, said he had aspirations for Athol Island via a project that would create an excursion destination to complement the Blackbeard’s Revenge ship tour.

“I have a project I want to do there: Treasure Island. I want to do something,” he added of Athol Island. “From 2014 I’ve been working on a deal over there, incorporating ruins dating back to the 18th century, making it a really nice tour, being sensitive to the environment, giving Bahamians equal or more beach access and creating enjoyment.

“I want to make it nice for Bahamian families to go out there and enjoy themselves. It will be something that is low density, respecting the ruins that are there, and making it so that Bahamians can have their own area, lay out and do picnics.” Mr Knowles said he was open to allowing Bahamians to invest via an initial public offering (IPO), and also planned to work with the Antiquities, Monuments and Museums Corporation (AMMC) to preserve the historical ruins.

PAGE 8, Monday, April 4, 2022

THE TRIBUNE

The economic war FROM PAGE FIVE by an unprecedented reaction through the application of economic sanctions meant to punish Russia and force the Kremlin to eventually recall its troops. Many international companies left the country, including famous names, such as MacDonald’s, Visa and Mastercard.

Several of Russia’s main banks were excluded from the SWIFT system, and approximately 60 percent of the country’s foreign currency reserves were frozen.

The impact of these sanctions was felt immediately, as the rouble devalued to less than one US cent and Russian companies’ share prices collapsed. However, after the initial shock, the rouble is now back at prewar levels. The early panic that saw a run to the banks by worried savers was halted, and most of those who withdrew funds have paid them back in. And, while many international observers had expected Russia to default on bond payments denominated in

foreign currency, such a scenario never materialised, and all commitments have been honoured.

While the military operation has so far failed in a manner that is almost humiliating, economic policymakers in Moscow have played a poor hand with rare expertise. The central bank moved early and decisively, raising interest rates from 9.5 to 20 percent, incentivising investors to keep high-yielding Russian assets.

Another clever measure was to force all of the country’s

Bahamas Customs Department Sale By Sealed Bids In accordance with Section 201 of the Customs Management Act 2011, the following good is available for sale by the Bahamas Customs Department: Shipment#1-Thirty-three (33) pieces of Building Supplies Shipment # 2-Six (6) - 20’ Containers of Galvanized Steel The goods can be viewed at the Bahamas Customs Warehouse located at the Gladstone Freight Terminal, Monday thru Friday from 8:00 a.m. to 4:00 pm or call 376-5607 or 424-8065. Each of the shipments is being sold separately. Bidders must specifically state what shipment they are bidding on.

Interested persons are asked to submit sealed envelopes marked “SALE

BY SEALED BIDS’ to the office of the Comptroller of Customs, Customs House, 55 University Drive, New Providence, The Bahamas.

The deadline for bid submissions is Friday, 22nd April 2022 at 5:00 p.m.

The right is reserved to reject any or all tenders.

REQUEST FOR PROPOSAL RE: ATLANTIS BOILER MAINTENANCE/WATER HEATER INSPECTION & MAINTENANCE 2022

Atlantis, Paradise Island Bahamas is soliciting proposals from qualified and experienced companies, who have demonstrated the ability in providing remarkable Boiler Maintenance/Water Heater Inspection & Maintenance Services.

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exporters to convert at least 80 percent of their foreign currency proceeds into roubles. This move was particularly effective as, despite the sanctions, throughout the conflict Russia remained a major exporter of commodities, including large volumes of oil and gas,.

It is fair to say that the Russian government has been better at managing the economy, after it came under pressure from sanctions, than at planning and deploying the invasion of Ukraine. The other lesson we should draw here is that, in order for sanctions to be devastatingly effective, they must be thorough.

There is no point in targeting parts of the economy, while for others - the ones that really matter - it is business as usual. Despite all the action and declarations of good intentions, fingers can be pointed at Europe, whose dependency on Russian oil and gas meant that billions of euros kept pouring into Moscow’s coffers over the last five weeks, undermining the overall impact of the sanctions.

Sanctioned resort principal’s project hearing put ‘on hold’ FROM PAGE THREE The US capital markets regulator alleged that in March 2019 they “learned of Sahota’s prior personal bankruptcies and Internet posts alleging that Sahota had committed fraud in multiple states and Canada, including by creating fake financial statements”.

Throughout Spring 2019, Heartland’s principals were said to have experienced and ignored “additional red flags regarding Sahota, including his repeated refusal to provide requested information about title, project status, revenue and costs. Sahota [said] his company could spend money it received from Heartland as it wished, and that he did not have to provide details of where the funds went”.

Heartland’s collection of investment funds raised a total $122m from more than 700 investors via five “unregistered” securities offerings.

The funds raised were supposed to be invested in oil

and gas drilling projects “producing hundreds of barrels of oil per day”, yet the SEC is alleging that these wells have yet to deliver a single barrel.

Instead, investor monies were diverted for other purposes, with the regulator’s December 1, 2021, lawsuit alleging that some $54m - just over 44 percent of the total raised - went to Mr Sahota and three family entities - ArcoOil Corp, Barron Petroleum and Dallas Resources.

“The Sahota defendants and Dallas Resources used millions of dollars in Heartland investor funds to purchase a private jet, a helicopter, real estate in The Bahamas and on other non-oil and gas expenditures for themselves,” the SEC alleged. It also accused Mr Sahota and the family’s companies of making “material misrepresentations” about oil well production, inflating and altering volumes and revenues.

THE TRIBUNE

‘PROSPERITY ON PAPER’ MUST REACH THE STREET

FROM PAGE ONE

percent in 2021, as the economy reflated and re-opened following the prior year’s lockdowns and COVIDrelated restrictions, he said: “The GDP numbers are beginning to look a bit better but, at the end of the day, because there are so many aspects to the economy, the Government and all involved have to ensure that what is seen on paper is the reality in the lives of the average Bahamian.

“One only has to drive in so many areas of New Providence to see the hurt that exists. I’m glad to see the uptick in the numbers, which indicates the increased availability of more jobs, more services and the need for employment. Over time there always has to be the appearance, and this is my mantra, that it filters down to the average Bahamian. The prosperity on paper has to filter down to the average Bahamian, the working class Bahamian.”

Mr Gomez added that it was also vital for Bahamian economic growth to match

that of the country’s population so that productivity and living standards are maintained. “One reason GDP is important is that Bahamian output needs to keep up up with population growth if people want to maintain their living standards,” he said.

The Institute said its findings affirmed that economic activity “recovered significantly” in 2021 with real GDP expanding by 13.7 percent despite pandemicrelated measures impacting much of the year. Real GDP, which strips out the impact of inflation, expanded by almost $1.2bn year-overyear, growing from $8.65bn in 2020 to $9.837bn last year.

The latter figure, though, was some 8.2 percent or close to $900m below the $10.72bn GDP that The Bahamas generated in 2012. This means economic output, or the size of the Bahamian economy, was smaller at end-2021 than it was a decade ago, meaning that COVID effectively cost this nation ten years’ GDP growth that it now has to recover.

And 2021’s economic output was also almost $1.5bn, or 13.4 percent, below the $11.355bn GDP figure for 2019 - the last year before the global pandemic, and which also included the impact from Hurricane Dorian.

“According to the 2021 annual estimates, economic activity in The Bahamas recovered significantly by 15.6 percent in nominal terms and by 13.7 percent in real terms, as business activity began to show signs of recovery from the adverse effects of the COVID 19 pandemic,” the Institute said.

“However, it did not regain the same level of GDP as attained in 2019.

In 2021, the total value of goods and services produced in the Bahamian economy was estimated at $11.209bn in nominal prices, and at $9.837bn in real prices.”

The Institute’s 13.7 percent growth estimate is more than double that given recently by the International Monetary Fund (IMF), which pegged the economy’s 2021 expansion at 5.6 percent.

Ken Hutton, the Abaco Chamber of Commerce’s president, said of the Institute’s findings: “I think the numbers speak for themselves. Obviously it was a double whammy, particularly for Abaco, with COVID and Dorian. It just shows that even though there’s an indication of a rising recovery, there’s certainly a much longer way to go to get to break even with where we were in 2019.

It’s encouraging that we’re on the right track, and let’s hope things continue to improve.”

Several industries, according to the Institute’s data, enjoyed 2021 output levels that exceeded those of both 2019 and 2020. Among them was real estate, owner-occupied and rentals,

Monday, April 4, 2022, PAGE 9

which generated $1.744bn in economic activity due to surging demand from foreign buyers. This was a 4 percent rise on 2019’s $1.678bn.

Finance and insurance was flat with 2019 output, standing at $1.074bn, while the shift to remote work for many businesses and staff resulted in information and communications output expanding by 15.6 percent to $440.3m compared to $381m in 2019.

Meanwhile, wholesale, retail and motor vehicle repair services expanded by 7.4 percent to $1.643bn worth of economic output as opposed to $1.529bn in 2019. The Institute said this data was based on the “production approach”, which measures the gross value

added by each industry in the Bahamian economy.

Measuring household and government consumption, the Institute added: “General government consumption increased by $201m (13 percent) when compared to 2020, a direct result of an increase in purchases of goods and services.

The level of government consumption, however, was 2 percent lower than what was reported in 2019.

“Household consumption grew by 23 percent compared to 2020 as businesses fully reopened and employee work hours increased. However, household consumption was still 3 percent less than the level reported in 2019.”

PAGE 10, Monday, April 4, 2022

THE TRIBUNE

DECIDE FREEPORT’S POST-2054 DIRECTION ‘WITHIN NEXT 5 YEARS’ FROM PAGE ONE

“It is definitely time for them to think about that.

Everyone needs to think about it,” he reiterated of 2054. “There’s got to be form of transitional process. I can understand the Government not wanting to have a government within a government, but by the same token there has to be a way it is set up.

“The advantage for Grand Bahama, the way the Hawksbill Creek Agreement is set up, is that it’s self-sustaining and that’s why it’s so valuable. It we could find a way of implementing that for Freeport, find ways to give it real local government powers, not under the Local Government Act, but having local government that can function......”

The Hawksbill Creek Agreement provides for the devolution of the GBPA’s regulatory and quasi-governmental powers to a local government authority, as is being suggested here by Mr Leonard, but it requires some 75 percent of GBPA licensees to vote in favour of such a move and that threshold has never come close to being attained.

Meanwhile Mr Leonard, now an attorney with

Callenders & Co, told Tribune Business that if the Davis administration “prioritises” the repeal and replacement of the Grand Bahama (Port Area) Investment Incentives Act 2016 then it could “se meaningful results” via increased investment and job creation within a two-year period.

“If they deal with the Investment Incentives Bill quickly, they will see meaningful results within a couple of years,” he reiterated.

“We need to see people on the ground spending money and employing Bahamians.

I think that if they deal with that legislation now, they will reap the benefits. We’ll see more projects going, and the Public Treasury will see more revenues. It definitely should be a priority.

“My feeling on the Investment Incentives Act is that it needs to be totally revamped. I am extremely disappointed that the only people that get any form of certain relief from it are the GBPA and Hutchison Whampoa. The Government would be well-advised to revisit the legislation and come up with something for more viable that encourages investment rather than discourages investment.

I’ve always referred to it as the Disincentives Act. “With that Act in place, who the hell wants to invest here? It’s if, maybe, perhaps, how we feel today, and you don’t know how long the concessions are going to last for. The FNM did nothing quite frankly.

The FNM was useless. They let Grand Bahama down terribly. They had ample time to redo the Act and did nothing about it. That, quite frankly, is disgraceful.”

Kevin Seymour, the exGrand Bahama Chamber of Commerce president, recently said the 2016 Act had been repealed but not replaced by the Minnis administration. Mr Leonard, though, argued that the reality is slightly different. He asserted that the legislation remains on the statute book, with the former Minnis administration instead having passed annual measures that stopped it coming into effect.

The Grand Bahama (Port Area) Investment Incentives Act 2016 was met with furious opposition and resistance from many in corporate Freeport when it became law. This was because it would have forced all the GBPA’s 3,500

licensees - bar the Port Authority, its Hutchison Whampoa partner and their combined business interests - to apply annually to the central government in Nassau for the renewal of key tax breaks.

Besides the uncertainty as to what businesses would receive, and to what extent, the former Christie administration sought to tie their grant/renewal to the amount of investment involved and companies avoiding job cuts by maintaining their existing workforces for five years. It also threatened to impose financial penalties on businesses who failed to live up to the promises they made in return for receiving the renewed tax breaks.

The 2016 Act was also seen as an attack on Freeport’s founding treaty, and an attempt to undermine the Hawksbill Creek Agreement, by forcing GBPA licensees to apply to Nassau for benefits and rights this already provided them. “It’s if, if and if, and maybe,” Mr Leonard argued of the Act. “If it was proper legislation, you would know that if you do this you will get that.

“You know where you stand. That’s always been an advantage of the Hawksbill Creek Agreement until the

last few years. You knew where you stood and how long you had it for. With the new legislation, you don’t know where you stand and how long you have it for. You’re not getting interested because there’s nothing to get interested in. That’s the advantage of the Hawksbill Creek Agreement. You had more certainty, and businesses like certainty.”

While investor interest has still been shown in Freeport, Mr Leonard

also argued that the existing legislation “slams the door shut” on second home development because it potentially exposes such projects to the prospect of “double taxation” via government real property taxes and GBPA service charges.; “The current government has a golden opportunity right now to fix Freeport, and it’s one-sixth of the population of the country,” he added. “It’s a very important part to fix, and the potential is phenomenal.....”

THE TRIBUNE

Monday, April 4, 2022, PAGE 11

Biden cites economic gains, but voters see much more to do

By JOSH BOAK, ZEKE MILLER AND CHRIS MEGERIAN Associated Press WASHINGTON (AP) — Seven months before he faces a critical test from voters in the midterm elections, President Joe Biden is turning his focus to kitchentable issues as he struggles to get credit for a recovering economy.

Since Biden took office last year, job growth has been vigorous and steady — as he told the country Friday after the March jobs report showed the addition of 431,000 jobs and the unemployment rate falling to a low 3.6%. But those same remarks were also tempered by his recognition that food and gas prices are too high and inflation is at its worst level in a generation.

For Biden, convincing Americans of the progress made in the economic recovery only serves as a salient reminder of how much further the country has to go.

“Our economy has gone from being on the mend, to being on the move,” Biden said, even as he acknowledged Americans are not ready for a victory lap. “I know that this job is not finished: We need to do more to get prices under control.”

At times, Biden’s bifurcated messaging — like the state of the economy itself — can seem like a jumble of contradictions.

It leaves voters to piece together their own opinions — potentially to the president’s political peril.

Record wage gains of 5.6% over the past year, for example, run up against consumer prices that have risen at 7.9% annually.

Biden’s announcement this past week of plans to release a million barrels of oil daily from the U.S. strategic reserve over the next six months was a recognition of the harm that inflation can have not just on the economy but his own policy ambitions.

The economic discontent is reflected in Biden’s standing in public opinion polls.

Roughly 7 in 10 people in the United States describe the economy as being in poor shape, while nearly two-thirds disapprove of Biden’s economic leadership, according to a March poll by The Associated Press-NORC Center for Public Affairs Research.

Administration officials and Biden allies happily point to the job creation data as a sign of accomplishment but they are also perturbed by the lingering economic malaise that threatens him with a historically inhospitable environment for a president’s party in a midterm year. They have advised Biden to spotlight his work to bring down gas prices and forthcoming efforts to try to curtail an increase in food prices from the war raging in the world’s breadbasket of Ukraine.

It is not just the family budget he is targeting.

Biden’s latest message to voters is that he can bring the nation’s finances under control too.

His annual budget request highlighted a $1 trillion decrease in the deficit over 10 years, an effort to claim the mantle of fiscal steward even as the reduction was driven by the expiration of COVID-19 relief programs that are no longer necessary and a new

plan for a minimum tax on the nation’s billionaires.

“Responsible fiscal accountability is always a priority with voters,” said Democratic pollster John Anzalone, who advised Biden’s 2020 campaign. “I think people want fiscal accountability. And I don’t think that’s changed over the years.”

Biden aides also hope he can spend more time focusing on other ways that government is working to make concrete changes in peoples’ lives, with infrastructure investments and the improving economy.

Former Secretary of State Hillary Clinton, the Democratic presidential nominee in 2016, said there seemed to be a “disconnect” between Biden’s legislative achievements and his handling of the war in Ukraine, and the public’s understanding.

PRESIDENT Joe Biden speaks about the March jobs report in the State Dining Room of the White House, April 1, 2022, in Washington. Since Biden took office last year, job growth has been vigorous and steady. That’s what he told the country on Friday after the March jobs report showed the addition of 431,000 jobs.

Photo:Patrick Semansky/AP

NOTICE IN THE ESTATE OF EDWARD E. WALPOLE III, late of 564 SW Thornhill Lane, Palm City, of the State of Florida one of the United States of America, Deceased IT IS HEREBY NOTIFIED, for the information of those it may concern, that all persons having claim or demand against the said Estate are required to send the same to the undersigned on or before the 19th day of April, A.D. 2022 and if so required by notice in writing from the undersigned to come in and prove such demand or claim or in default thereof be excluded from the benefit or any distribution made before such debts are proved; AND NOTICE is hereby given that all persons indebted to the said Estate are requested to settle their respective debts at the Chambers of the undersigned on or before the date hereinbefore mentioned.

Dated the 21st day of March, A.D. 2022 CALLENDERS & CO. CHAMBERS, One Millars Court, P.O. Box N-7117, Nassau, The Bahamas Attorneys for the Personal Representatives

NOTICE In the Estate of NATHANIEL ARTHUR, late of Garden Hills, in the Southern District, on the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.

NOTICE is hereby given that all persons having any claim or demand against the above Estate are required to send the same duly certified in writing to the undersigned on or before the 4th May, 2022 after which date the Executors will proceed to distribute the assets having regard only to claims of which they shall then have had notice.

UNWALA & CO Unwala House Queen Street Nassau, The Bahamas Attorneys for the Executor

GN-2695

PAGE 12, Monday, April 4, 2022

THE TRIBUNE

Stocks edge higher, Treasury yields soar after jobs data

By STAN CHOE AND ALEX VEIGA AP Business Writers NEW YORK (AP) — Stocks notched modest gains and Treasury yields soared Friday on Wall Street after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes.

The S&P 500 rose 0.3% after bouncing between small gains and losses. The benchmark index eked out a slight gain for the week, it’s third straight amid lingering concerns about high inflation, higher interest rates from the Federal Reserve and the economic effects of the war in Ukraine.

The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite rose 0.3%. Small company stocks outgained the broader market, driving the Russell 2000 1% higher.

The sharpest action was again in the bond market, where the yield on the twoyear Treasury approached its highest level in more than three years.

Yields jumped after a U.S. government report showed employers added 431,000 jobs last month.

That was slightly below economists’ expectations for 477,500, but the report also revised earlier months’ data to reflect more strength. It showed raises for workers accelerated last month but at a slower

pace than overall inflation, while the unemployment rate improved to 3.6% from 3.7%.

“This was a solid report,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“You can see the worries about COVID fading.

Fewer people are working remotely. Fewer people are saying they can’t work due to the pandemic.”

A separate report showed that U.S. manufacturing is continuing to grow, though at a slower rate than in February.

A strong jobs market and economy give the Federal Reserve more leeway to raise interest rates sharply in order to beat down the high inflation that’s

THE NEW York Stock Exchange operates during normal business hours in the Financial District, Wednesday, Oct. 13, 2021, in the Manhattan borough of New York. Stocks are holding steady on Wall Street Friday, April 1, 2022, and Treasury yields are jumping after a healthy report on the U.S. job market strengthened expectations for coming interest-rate hikes.

Photo:John Minchillo/AP sweeping the country. The Fed has already raised its key overnight rate once, the first such increase since 2018. Following Friday’s jobs report, traders increased bets that the Fed

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that We, DURAN ELVARDO MACKEY and LIVEATTE HARRADISA RAINE BETHELL, of Nassau, Bahamas, intend to change our son’s name from RENIO STORM CALIXTE to RENIO STORM MACKEY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE NOTICE is hereby given that MONELLE DAVILMAR of #180 Pioneers Way , Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 28rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

will raise rates at its next meeting by double the usual amount.

Such expectations drive shorter-term Treasury yields in particular, and the two-year yield leaped to 2.45% from 2.28% late Thursday.

The two-year yield again rose above the 10-year yield, which was also climbing, but not as quickly. The 10-year yield rose to 2.38% from 2.33%. On Tuesday, the two-year yield briefly topped the 10-year yield for the first time since 2019, a potentially ominous sign.

Such a flip of the usual relationship between twoand 10-year yields has preceded many recessions in the past, though it hasn’t been a perfect predictor.

Some market watchers caution the signal may be less accurate this time, because of distortions in yields caused by extraordinary measures by the Federal Reserve and other central banks to keep interest rates low. Shares in more than 65% of the companies in the benchmark S&P 500

rose, with health care and communications stocks making up a big share of the gains. A slide in industrial, technology and financial stocks kept the index’s gains in check.

All told, the S&P 500 rose 15.45 points to 4,545.86. The Dow added 139.92 points to 34,818.27, while the Nasdaq rose 40.98 points to 14,261.50. The Russell 2000 gained 20.99 points to 2,091.11.

Shares of GameStop initially rose sharply after it said it plans to split its stock, pending approval from shareholders for an increase in the number of its authorized shares. Such splits can bring down the price of a share of stock, potentially putting it in reach of more smaller-pocketed investors.

The stock shed its gains, however, and closed 0.9% lower.

GameStop’s stock has more than doubled since sitting at $78.11 in mid-March.

But it’s still well below the $483 peak reached in early 2021 amid the “meme stock” craze.

MARKET REPORT www.bisxbahamas.com

FRIDAY, 01 APRIL 2022

BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 40.50 2.05 2.90 2.60 6.05 10.05 2.56 9.02 3.10 7.20 13.00 2.71 10.25 11.25 10.75 15.00 4.00 10.00 16.50

52WK LOW 4.55 32.12 1.46 2.20 1.30 5.50 6.00 2.82 4.25 2.27 5.50 9.75 1.99 6.50 10.02 9.00 13.10 3.50 8.00 15.50

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

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 1.00

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

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

52WK LOW 100.00 100.00

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

CLOSE

CHANGE

%CHANGE

YTD

YTD%

2230.35

0.26

0.01

2.11

0.09

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.22 100.53 99.98 100.00 100.00 100.00 100.00 100.00 100.98 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.29 99.98 91.00 90.95 89.02 89.62 89.00 90.24 90.73

MUTUAL FUNDS 52WK HI 2.50 4.67 2.20 207.86 207.68 1.72 1.83 1.81 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.68 1.73 1.75 1.01 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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 FL BGRS67023 BGRS FL BGRS70022 BGRS FL BGRS78024 BGRS FX BGR125238 BGRS FX BGR127139 BGRS FX BGR127149 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS670233 BSBGRS700220 BSBGRS780248 BSBGR1252380 BSBGR1271398 BSBGR1271497 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504

LAST CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.90 2.66 7.16 13.00 2.20 10.13 12.04 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.06 100.53 99.98 100.00 100.00 100.00 89.62 100.00 100.00 100.00

CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.90 2.66 7.16 13.00 2.37 10.13 12.29 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

VOLUME

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.06 100.53 99.98 100.00 100.00 100.00 89.62 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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 RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

MARKET TERMS

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.17 0.00 0.25 0.00 0.00 0.00 0.00 0.00

(242) 323‐2330 (242) 323‐2320 EPS$ 0.239 0.932 0.000 0.140 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 0.080 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

INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.63% 4.50% 4.50% 5.00% 5.00% 5.50% 5.55% 5.60% 5.65% 5.69%

NAV 2.50 4.67 2.20 204.67 199.97 1.72 1.83 1.81 1.01 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89

YTD% 12 MTH% 0.34% 4.30% -0.06% 5.21% 0.21% 2.72% 1.37% 3.18% 8.18% 14.94% 0.26% 2.76% 0.36% 2.37% 0.28% 2.51% -1.31% -3.43% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%

P/E 22.2 42.9 N/M 16.5 N/M N/M 25.1 -7.5 56.4 14.5 15.9 18.0 23.2 21.7 19.0 14.8 18.4 19.7 10.6 24.6 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

YIELD 3.21% 3.15% 0.98% 3.46% 0.00% 0.00% 2.81% 0.00% 0.00% 4.51% 3.07% 5.54% 18.31% 0.59% 2.67% 2.23% 3.60% 3.01% 2.00% 3.94% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 8-Apr-2023 29-Jul-2022 22-Sep-2024 15-Oct-2038 15-Jan-2039 15-Jan-2049 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050

NAV Date 31-Jan-2022 31-Jan-2022 28-Jan-2022 30-Sep-2021 30-Sep-2021 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

LEGAL NOTICE

Blue Seahorse Management Corporation 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 Blue Seahorse Management Corporation (IBC no. 159075 B) is in dissolution. The date of commencement of the dissolution is the 1st day of April, 2022. The Liquidator of the Company 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 email their names, addresses and particulars of their debts or claims to the Liquidator before 1st day of May, 2022.

Crowe Bahamas Liquidator NOTICE

FTP SONS LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) FTP SONS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said company commenced on the 1st April, 2022 when the Articles of Dissolution were submitted to and registered by the Registrar General. (c)

The Liquidator of the said company is CST Administration (Bahamas) Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, Bahamas.

Dated this 4th day of April, 2022 ___________________________________ TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

CST Administration (Bahamas) Limited Liquidator

THE TRIBUNE

Monday, April 4, 2022, PAGE 15

AIRLINES CANCEL MORE THAN 3,300 US FLIGHTS OVER WEEKEND

By TALI ARBEL AP Technology Writer AIRLINES have canceled more than 3,300 U.S. flights this weekend and delayed thousands more, citing weather in Florida and other issues.

FlightAware, a website that tracks flights, noted major disruptions at several Florida airports, including Miami, Ft. Lauderdale and Orlando, as well as Baltimore and other airports around the country. JetBlue, Southwest, Alaska Airlines, Frontier, Spirit and American Airlines were most affected,

according to FlightAware.

Local news reported storms in Florida on Saturday. Several airlines said Sunday that operations are returning to normal.

The spate of cancellations arrived as air travel is rebounding from the pandemic, with strong demand for spring-break flights.

"Severe weather in the Southeast and multiple air traffic control delay programs have created significant impacts on the industry," a JetBlue spokesperson said in an email. "Today's cancellations will help us reset our operation and safely move

our crews and aircraft back in to position."

Southwest Airlines also cited "weather and airspace congestion" Saturday in Florida, as well as a "technology issue." It canceled about 1,000 flights over the weekend but said that as of 1 p.m. Eastern, it had no more cancellations on Sunday.

American said Florida weather Saturday affected its operations, and it was recovering today.

Alaska Airlines said its weekend flight cancellations that began Friday have affected more than 37,000 customers and said

Sunday that further cancellations were possible.

The airline declined to say why it canceled flights, but referred in its statement to contract negotiations with its pilots. Off-duty pilots picketed in several U.S. cities Friday over stalled negotiations. They have been without a new contract for three years.

"Alaska Airlines failed to properly plan for increased travel demand and take the steps necessary to ensure it attracted and retained pilots," the pilots union said in a Friday press release.

A PASSENGER jet is silhouetted against the sky at dusk as it takes off from Sky Harbor Airport, Saturday, April 2, 2022, in Phoenix.

Photo:Charlie Riedel/AP

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 84° F/29° C Low: 68° F/20° C

TAMPA

uV inDex toDay

TONIGHT

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY

A t‑storm in spots in the morning

A strong t‑storm in spots early

Mostly sunny and pleasantly warm

Mostly sunny, breezy and humid

Humid; breezy in the morning

Periods of sun, a t‑storm; humid

High: 84°

Low: 72°

High: 87° Low: 74°

High: 86° Low: 73°

High: 85° Low: 72°

High: 87° Low: 70°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

95° F

76° F

93°-77° F

94°-77° F

94°-77° F

94°-72° F

High: 85° F/29° C Low: 72° F/22° C

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: 78° F/26° C Low: 72° F/22° C

8‑16 knots

S

High: 81° F/27° C Low: 73° F/23° C

8‑16 knots

FT. LAUDERDALE

FREEPORT

High: 81° F/27° C Low: 74° F/23° C

N E S

E

W

WEST PALM BEACH

W

| Go to AccuWeather.com

High: 82° F/28° C Low: 71° F/22° C

MIAMI

High: 82° F/28° C Low: 75° F/24° C

7‑14 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 82° F/28° C Low .................................................... 73° F/23° C Normal high ....................................... 80° F/27° C Normal low ........................................ 68° F/20° C Last year’s high ................................. 75° F/24° C Last year’s low ................................... 63° F/17° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ................................................. 6.36” Normal year to date ..................................... 4.66”

ELEUTHERA

NASSAU

High: 84° F/29° C Low: 72° F/22° C

Forecasts and graphics provided by AccuWeather, Inc. ©2022

High: 81° F/27° C Low: 75° F/24° C

N

KEY WEST

High: 85° F/29° C Low: 77° F/25° C

High

E

W

6‑12 knots

S

6‑12 knots

Low

Ht.(ft.)

10:44 a.m.

11:08 p.m.

2.3 2.8

4:52 a.m. ‑0.1 4:50 p.m. ‑0.1

Tuesday

11:24 a.m.

11:50 p.m.

2.2 2.6

5:34 a.m.

5:28 p.m.

0.1 0.1

Wednesday 12:06 p.m. ‑‑‑‑‑

2.0 ‑‑‑‑‑

6:19 a.m.

6:09 p.m.

0.3 0.3

Thursday

12:35 a.m.

12:53 p.m.

2.5 1.9

7:07 a.m.

6:56 p.m.

0.5 0.4

Friday

1:26 a.m.

1:47 p.m.

2.4 1.8

8:01 a.m.

7:49 p.m.

0.7 0.6

Saturday

2:22 a.m.

2:48 p.m.

2.3 1.8

9:00 a.m.

8:50 p.m.

0.8 0.7

Sunday

3:22 a.m.

3:50 p.m.

2.3 1.9

9:59 a.m.

9:53 p.m.

0.7 0.6

sun anD moon Sunrise Sunset

6:59 a.m. Moonrise 7:28 p.m. Moonset

9:06 a.m.

10:47 p.m.

First

Full

Last

New

Apr. 9

Apr. 16

Apr. 23

Apr. 30

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 81° F/27° C Low: 74° F/23° C

High: 82° F/28° C Low: 76° F/24° C

N

High: 84° F/29° C Low: 72° F/22° C

E

W S

LONG ISLAND

tracking map

High: 83° F/28° C Low: 75° F/24° C

H

Ht.(ft.)

Today

High: 81° F/27° C Low: 74° F/23° C

N

S

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

tiDes For nassau

CAT ISLAND

E

W

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

4‑8 knots

MAYAGUANA High: 82° F/28° C Low: 77° F/25° 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: 76° F/24° C

High: 82° F/28° C Low: 76° F/24° C

GREAT INAGUA High: 85° F/29° C Low: 76° F/24° C

N

E

W

E

W

N

S

S

7‑14 knots

6‑12 knots

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

Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday:

WINDS NE at 8‑16 Knots SE at 10‑20 Knots SE at 6‑12 Knots SE at 10‑20 Knots E at 4‑8 Knots ESE at 10‑20 Knots ENE at 7‑14 Knots ESE at 10‑20 Knots E at 6‑12 Knots SE at 10‑20 Knots E at 8‑16 Knots SSE at 10‑20 Knots E at 6‑12 Knots ESE at 10‑20 Knots NE at 6‑12 Knots E at 10‑20 Knots E at 7‑14 Knots ESE at 10‑20 Knots E at 7‑14 Knots ESE at 10‑20 Knots E at 6‑12 Knots SE at 10‑20 Knots E at 7‑14 Knots ESE at 10‑20 Knots E at 4‑8 Knots ESE at 10‑20 Knots

WAVES 2‑4 Feet 2‑4 Feet 0‑1 Feet 1‑2 Feet 1‑3 Feet 2‑4 Feet 1‑3 Feet 2‑4 Feet 1‑3 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 0‑1 Feet 1‑2 Feet 1‑2 Feet 2‑4 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 3‑5 Feet 0‑1 Feet 1‑3 Feet 1‑2 Feet 2‑4 Feet 0‑1 Feet 1‑3 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 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 76° F 76° F 81° F 83° F 79° F 80° F 82° F 81° F 79° F 80° F 81° F 80° F 80° F 81° F 82° F 81° F 81° F 81° F 80° F 80° F 79° F 80° F 81° F 80° F 79° F 80° F