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VOLUME:115 No.164, JULY 19TH, 2018
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CLASSIFIED TRADER: CARS, CARS, CARS & MORE CARS
INSIDE
VAT hike sparks 10% sales slump By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A TOP food store chain yesterday revealed sales have fallen ten percent since the VAT rate hike, with this and other uncertainties forcing it to postpone further expansion plans. Gavin Watchorn, AML Foods’ chief executive, told Tribune Business that a combination of the VAT increase, The Bahamas’ planned accession to full World Trade Organisation (WTO) membership and
related taxation reforms, together with rising energy prices had prompted its board of directors to pause construction of new stores. The BISX-listed food retail and franchise group, which operates the Solomon’s and Cost Right brands, still intends to pursue real estate acquisitions for sites that “make sense” as new stores, but will not “go vertical” until it sees how these developments impact consumers and the wider economy. FULL STORY - SEE BUSINESS
BPL STAGGERING $70M EXIT PLAN By KHRISNA RUSSELL Deputy Chief Reporter krussell@tribunemedia.net
WITH 314 Bahamas Power and Light employees opting to receive voluntary separation packages which will result in more than $70m paid out over a period of time, Works Minister Desmond Bannister said employee departures have been staggered to ensure that the efficiency of Bahamas Power and Light is not negatively affected. Mr Bannister, who has responsibility for the “debt-ridden” electricity
provider, explained the exercise will improve BPL’s financial viability by making it leaner and more competitive. Although he told House of Assembly members BPL could not be permitted to balloon out of control to “unmanageable” proportions, the minister said offering the VSEPs (Voluntary Separations Packages) will also make way for the company to recruit and hire qualified young people within “tightly controlled” limits. SEE PAGE THREE
L SOUR CE
4C’S FACING ACTION FOR DEFYING BAN ORDER
By MORGAN ADDERLEY Tribune Staff Reporter madderley@tribunemedia.net
THE Ministry of Transport and Local Government yesterday said it will pursue legal action against the 4C’s tour company for defying an order to cease operations. SEE PAGE FIVE
DON’T BE SO SHY
DABBING at Dolphin Cay - see tomorrow’s Weekend section for a behind the scenes look at life at the Atlantis tourist attraction, and the efforts made by Dolphin Cay to rehabilitate and rescue animals.
ROAD REPAIR FINES NEW CONTROLS TO ‘INCREASE TO $10K’ WIN GOVT CONTRACT By KHRISNA RUSSELL Deputy Chief Reporter krussell@tribunemedia.net WORKS Minister Desmond Bannister yesterday tabled an amendment to the Roads Act, which seeks to raise the fine for infractions from $75 to $10,000. Mr Bannister said the
increased fine is aimed at deterring contractors and others from cutting into roads and utilities without returning them to standard. He further appealed to drivers to exercise caution, pointing to the prevalence of damaged light poles SEE PAGE NINE
By RASHAD ROLLE Tribune Staff Reporter rrolle@tribunemedia.net THE Ministry of Works is updating its contractor database through a new prequalification system that will form the basis upon which contractors are invited to submit bids for projects.
Works Minister Desmond Bannister announced this in the House of Assembly yesterday, saying pre-qualification documents will allow the ministry to determine if a contractor is suitably qualified to complete public works projects. SEE PAGE FIVE
DINGMAN SUFFERS US COURT BLOW By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A LYFORD Cay resident has suffered a double blow, after his attorneys withdrew over unpaid legal bills just as the fraud case relating to his collapsed Nassau restaurant empire revives. Jamie Dingman, son of late world-famous entrepreneur, Michael, was on Monday given 30 days by a New York federal judge to
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JAMIE DINGMAN, left, at the Traveller’s Restaurant during efforts to reopen the venue. hire new attorneys otherwise a default judgment will be entered against him in favour of two former business partners who invested
in his failed Out West Hospitality venture. The court order came after Mr Dingman’s previous attorney, Jeffrey Mitchell, said there had been no contact with his client since August 2017. He told Judge Naomi Buchwald, via a June 21, 2018, letter that the Lyford Cay resident has neither revealed his location nor paid past due legal bills. FULL STORY - SEE BUSINESS
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DIANE PHILLIPS: IT’S SIMPLY NOT CRICKET
SEE PAGE TEN