08032017 business

business@tribunemedia.net

THURSDAY, AUGUST 3, 2017

$4.00 DAVIS: ALBANY MISSED ENERGY REPLY DEADLINE

By NATARIO McKENZIE Tribune Business Reporter and NEIL HARTNELL Tribune Business Editor THE Opposition’s leader yesterday said the Albany developers’ proposal to rescue Bahamas Power & Light (BPL) did not proceed after they failed to meet a key deadline.

Philip Davis, who had ministerial responsibility for BPL and its parent, the Bahamas Electricity Corporation (BEC), said Joe Lewis and his Tavistock Group investment vehicle failed to submit the necessary responses to questions posed by the Christie administration’s energy Task Force.

Albany’s managing partner, Christopher Anand, on Tuesday said the $1.5 billion project’s developers offered

the former government $700 million to “fix the issues” at BPL and the New Providence landfill. However, for “some reason” the offer was never accepted, and Mr Anand said the developers felt “jerked around” by the former government.

But Mr Davis told Tribune Business yesterday: “I am not aware of a proposal related to the dumpsite. I am aware of a proposal with respect to providing funding for a generation plant which would have assisted in dealing with the challenges at BEC. “The Government had received a number of unsolicited proposals from various entities. As a result of this, the Government had decided to appoint a Task Force to look at those various proposals.”

See PG B9

Chamber executive’s gambling ‘scourge’ fear for Out Islands

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas was yesterday urged to rapidly address the “scourge” of web shop gaming in the Family Islands, amid warnings that the resulting social and economic deterioration is now “very visible”.

Roderick Simms, chair of the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) Family Island division, told Tribune Business that “no island is excluded” from the effects of gambling addiction.

He added that the economic and social impact “can be physically seen” in the Family Islands, as the web shop chains suck thousands of dollars out of

$4.18

$4.06

Govt to eliminate ‘ghost’ employees

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Deputy Prime Minister yesterday said the Government is targeting “ghost” employees and other unethical practices in a bid to trim its wage bill and hit the 10 per cent spending cut goal.

K P Turnquest told Tribune Business that the employee verification exercise, announced by the Public Treasury Department on July 31, was designed to “clean up” the

‘Cleaning up payroll’ via worker verification DPM: ‘We don’t want to pay phantoms’ Confirms part of 10% spending cut drive Government’s $650 million-plus annual wage bill.

He added that it was also designed to improve public sector efficiency and

maximise the Government’s resources, matching public service skills to appropriate positions.

“That’s exactly right,” Mr Turnquest responded, when asked if the “verification exercise” was intended to eliminate corrupt workplace practices, such as employee “double dipping’’ and pay cheques being issued to non-existent staffers.

“We’re just verifying that we’re not paying phantoms,” he told Tribune Business. “We want to do our best with this See PG B4

DEPUTY Prime Minister Peter Turnquest.

Minister blasts ‘political expediency’ for lay-offs

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Economic, social deterioration ‘very visible’ Thousands sucked from struggling economies

$4.05

DIONISIO D’AGUILAR

THE Minister of Tourism yesterday blasted the former government for forcing him to lay-off new hires, describing the decision as “gut wrenching”.

Dionisio D’Aguilar slammed what he described as “political expediency” in the Christie administration’s decision to hire 22

persons at the Ministry of Tourism within the two months prior to the May 10 general election, disclosing that this added $750,000 to the annual wage bill.

However, his predecessor, Obie Wilchcombe, yesterday appealed directly to Prime Minister Dr Hubert Minnis to intervene and half any further lay-offs at the Ministry of Tourism.

He argued that if the See PG B5

‘Gut wrenching’ to terminate new Tourism hires 22 new staff add $750k to payroll pre-election Obie demand PM’s personal intervention

Warns Bahamas: ‘We can’t continue to ignore’ already-struggling economies and households.

Disclosing that he had seen parents send children to web shops to buy ‘numbers’ for them, Mr Simms likened gambling to the third “scourge” to hit Family Island communities See PG B8

Construction more robust, but no ‘hallelujah’ shout

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamian construction industry is more robust than 2017 first quarter figures suggest, although a leading contractor conceded: “Let’s not shout ‘hallelujah’ yet.”

Leonard Sands, the Bahamian Contractors Association’s (BCA) president, told Tribune Business that the market was “not as sluggish” as suggested by Department of Statistics data because contractors were finding it difficult to find skilled labour.

Speaking after the Central Bank revealed private sector construction starts fell by 36.2 per cent yearover-year for the 2017 first quarter, Mr Sands suggested the figures had been temporarily impacted by the after-effects of Hurricane Matthew.

He added that Bahamian See PG B4

‘Not as sluggish’ as data suggests Tough for contractors to find skilled labour Govt ‘raising bar’ on contract criteria

LEONARD SANDS

STANDARD SIZE CGI WINDOWS IN STOCK Premier Dealer

Most extensive line of Windows, Doors, Entrance Doors & Hurricane Shutters

325-6633/4 | email. sales@stormframewindows.com | website. stormframewindows.com

PAGE 2, Thursday, August 3, 2017

THE TRIBUNE

LEARNING THE SCIENCE BEHIND YOUR DESIGNS DESIGN is a broad term with many definitions, and a science behind it. There are psychologies and strategic principles that designers follow to ensure a comfortable yet engaging transformation.

In its most basic form, graphic design is about solving problems. Its beauty is that no two designers will solve the same problem alike.

Three important points come to mind: Photoshop basics; that graphics is not Photoshop; and how businesses can improve with the use of graphic design.

Learning Photoshop does not make one a designer, just as purchasing paintbrushes does not make one an artist. Start with the foundation. A ‘real’ graphic designer has a clear concept and plan in mind, and thereafter chooses the tools that will best accomplish their goal.

Beyond knowing the production aspects for a chosen direction, any good designer should have an understanding of marketing as well.

Past marketing research

has revealed that the better a designer understands core design principles and related psychology, the better they can connect with their audience and potential customers. Lack of proper decision-making in the design process has often resulted in multiple companies failing to achieve success.

It is impossible to create an aesthetically pleasing design unless a designer understands the target audience. Recognise what is more pleasing to women as opposed to men; old versus young; rich versus working class. This all falls into the psychology of sales - knowing what colours work for your market, and what sizes benefit it.

This is possible since every font, colour and shape communicates a subconscious message, evoking different human emotions and possible connections. Choosing the right colours for a design can sometimes seem arduous, but there are some rules that actually work.

My philosophy is to make two colours do the

heavy lifting, and reserve a third for a sidekick role.

The two primary colours are then free to establish hierarchy, meaning, pathways and identity.

Let’s not forget Typography I am convinced that students who grasp typography are a whole different breed. If there is only one area you can improve in, make typography your priority. Typography is the language of text and, thankfully, the Internet provides infinite resources.

Design principles suggest effective and pleasing ways to arrange text and graphics on the page, as well as the arrangement of individual elements with illustrations, logos and the overall graphic design of a document.

It is important that newcomers not only learn these design fundamentals, but the tools as well.

Both can be done simultaneously. So approach Photoshop as a tool-set, as the biggest mistake might be

jumping in too fast.

Focus on tutorials that clarify design fundamentals such as colour, line, shape, scale, space, texture and value, as these are the fundamental pieces that make up any piece of work. Besides the ability to confidently articulate the rationale behind these choices and selections, art elements and overall layout are the sign of a true professional.

Try to develop a better understanding of the basics of graphic design by reading design magazines featuring ‘How’ and ‘Why’ aspects.

Or you can visit this site for further support in Design Principles: https:// www.visiblelogic.com/ download/Graphic_Design_101_For_Marketingsm.pdf Finally, core principles

are a must. Photoshop alone cannot prepare you to become a graphic designer; theory and practice will. Never limit yourself to what is tradition. However, expand into other areas, and draw on all inspirations around you to foster your own creativity.

Remember: Experimenting with new techniques will yield results. Tutorials will teach the basics, and thereafter the rest is left to you. Until we meet again, fill your life with memories as opposed to regrets.

Enjoy life and stay on top of your game.

NB: The columnist welcomes feedback at deedee21bastian@gmail.com Trump backs GOP plan to push legal immigration changes Trump backs GOP plan to push legal immigration changes

IAN FERGUSON Deidre Marie Bastian is a professionally trained graphic designer/marketing co-ordinator with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of the Bahamas, Nova South Eastern

FOR Domino’s regional manager of the year, Gary Guillaume, teamwork makes the dream work. He is pictured with his Domino’s RND Freeport team.

Domino’s selects GB manager as Americas lead DOMINO’S International has named the RND Freeport manager, Gary Guillaume, as its 2016 regional store manager of the year for the Americas.

The Grand Bahama native heads a team of 12 at the branch, and is the first manager from the Bahamas to receive the Domino’s Global Award in this category.

Mr Guillaume beat out thousands of his counterparts in Canada, South America, Central America, Hawaii and the Caribbean to take the title. Born in Jones Town in Eight Mile Rock, he started working at Domino’s as a customer

service representative in 2014.

“Working for Domino’s has been a life-changing experience for me,” Mr Guillaume said. “Out of all of the jobs that I’ve had in the past, this has actually been one of the best. I can truly say that.

“What I like most about this position is that it is not limited. There are opportunities for growth, development and advancement.

This job has taught me how to prioritise and focus on the most important values.”

Gavin Watchorn, president and chief executive at AML Foods, parent company of Domino’s Bahamas, added: “We are extremely proud of Gary, and are pleased that our international colleagues recognise the qualities he has always exhibited as a member of our local team.

“Gary exemplifies the vision that we have for all of our brands, and has demonstrated his committment

to our goal of improving the lives of the communities that we service.”

Domino’s honoured Mr Guillaume with a month of celebrations during July, including a pizza deal in his honour, a live remote, lunch with his favourite local groups and charities, and a television and social media campaign focused on his role in the company.

Regional heads from Domino’s International also travelled to the Bahamas to visit his store and present him with a plaque and prizes.

Domino’s International Incentives programme was introduced “to recognise team members who consistently reach extraordinary sales and operational performance, and motivate others to reach the same level”.

Domino’s Bahamas operates 11 restaurants in the Bahamas, including two outlets in Grand Bahama.

GARY Guillaume (right), Grand Bahama native and store manager of Domino’s RND Freeport, receives the 2016 regional manager of the year award from Jean Rodriguez, area manager for Domino’s Americas.

THE TRIBUNE

Thursday, August 3, 2017, PAGE 3

BTC expands GB franchise locations Union chief demands THE Bahamas Telecommunications Company (BTC) yesterday said it has expanded Bahamian ownership via the continued outsourcing of its retail stores, adding three more in Grand Bahama.

BTC’s latest franchise locations opened in Jones Town, Eight Mile Rock, and Pinders’ Point and West End. After completing his franchise application and meeting the necessary requirements, Chris Williams began operation of Eight Mile Rock’s second franchise store just two weeks ago.

“Customer demand played a major factor in my decision to pursue the opening of a BTC franchise in this area,” said Mr Williams. “There used to be a location in this area, and so it made sense to re-open there to meet customers’ growing needs.

“I am very pleased that BTC has taken this excellent position in encouraging Bahamian ownership, and I think more people should try and get involved”.

Mark Gardiner moved to service underserved communities in his hometown

work permit freeze over Govt austerity

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

BTC has created multiple ownership franchise opportunities for Bahamians on Grand Bahama, with the latest locations opening in Jones Town, Eight Mile Rock and Pinders’ Point and West End. BTC representatives the stores, which have been operational for the past two weeks. of Pinders’ Point as well as West End. “I chose both areas in hopes of providing a needed service to residents in those communities, as BTC didn’t have a physical presence in those areas” he explained.

“Our business is doing well, and I am pleased to be part of the growing number of entrepreneurs for BTC.” The addition of these new franchise locations brings the total number on Grand Bahama to six, with existing locations includind the Sea-

Twenty-year tax break for all GBPA licensees SENIOR Grand Bahama Port Authority (GBPA) executives and the Attorney General have jointly pledged to work together for the benefit of Freeport’s 3,500 licensees.

Sarah St George, its vice-chairman (centre), and GBPA president, Ian Rolle (second right), welcomed Senator Carl W. Bethel QC (second left), attorney general and minister of legal affairs, on his first official visit to Grand Bahama.

They were joined by Senator Kwasi Thompson, minister of state for Grand Bahama (far right), and Elsworth N. Johnson, min-

AG promises ‘shot of adrenaline’ for GB ister of state for legal affairs (far left). Also present were Garvin Gaskin, director of public prosecutions; Antoinette Bonamy, director of legal affairs; Marco Rolle, permanent secretary to the Office of the Attorney General; Deann Seymour, GBPA chief financial officer; and Nakira Wilchcombe, director of GBPA building and development services.

Mr Bethel and Ms St George reaffirmed the Government’s and GB-

horse Plaza, Caravel Beach, and Rigby’s Plaza in Eight Mile Rock.

“At BTC, we understand that the success of ordinary everyday Bahamians also contributes to our success as well,” said BTC’s northern vice-president, Eldri Ferguson-Mackey.

“We don’t just work here, we live here, and so it’s important to us that enterprising Bahamians have the opportunity to own a piece of the pie, too.”

THE Bahamas Electrical Workers Union’s (BEWU) president yesterday urged the Government to consider a freeze on work permits as it rolls out its austerity measures, telling this newspaper: “You can’t put Bahamians out to pasture”.

Paul Maynard told Tribune Business: “What the Government should do is

implement a freeze on all construction work permits and work permits for engineers. We are giving out a lot of loose permits when we have Bahamians qualified to do the job. We have a lot of Bahamian engineers out of work because companies are bringing in foreign engineers. That has to stop.

“The Government has to do better, The Government has to get serious. You can’t have your people not working and foreigners working.

That’s not right. The unions are prepared to work with

them to show them that we are serious.

“You can’t put Bahamians out to pasture and have foreigners working. Right now we have many Bahamians working abroad because they can’t get a job here and would like to come home.”

Mr Maynard’s comments came on the heels of the Minnis administration’s announcement of a variety of austerity measures, including a 10 per cent cut in spending in all government ministries and a freeze on new public sector hiring.

PAs commitment to work together, and strengthen and streamline their public/ private sector partnership under the Hawksbill Creek Agreement (HCA), in order to stimulate jobs and economic growth.

Ms St George said: “We are simply delighted to work hand in hand with the Attorney General and his office, as a matter of priority, on the proposed improved Investment Incentive legislation.

“The aim is to ensure those particular HCA tax concessions that expired are extended for a further 20 years to all GBPA licensees in a smooth transition process”.

Mr Bethel indicated a new stimulus package and ‘one-stop shop’ will be tabled among other initiatives, and promised “a shot of adrenaline” for the Grand Bahama economy.

THE CLEARING BANKS’ ASSOCIATION ANNOUNCES

THE EMANCIPATION DAY HOLIDAY BANKING HOURS FRIDAY, AUGUST 4, 2017 Normal Banking Hours

SATURDAY, AUGUST 5, 2017

Bank of The Bahamas – Normal Banking Hours CIBC FirstCaribbean International Bank – CLOSED Citibank, N.A. – CLOSED Commonwealth Bank Limited – Normal Banking Hours Fidelity Bank (Bahamas) Limited – CLOSED RBC Royal Bank (Bahamas) Limited – Normal Banking Hours Scotiabank (Bahamas) Limited – Normal Banking Hours

MONDAY, AUGUST 7, 2017 EMANCIPATION DAY CLOSED

TUESDAY, AUGUST 8, 2017 Normal Banking Hours

Bank of The Bahamas Limited CIBC FirstCaribbean International Bank Citibank, N.A. Commonwealth Bank Limited Fidelity Bank (Bahamas) Limited RBC Royal Bank (Bahamas) Limited Scotiabank (Bahamas) Limited

PAGE 4, Thursday, August 3, 2017

Govt to eliminate ‘ghost’ employees From pg B1 verification exercise so that we can clean up the payroll, and know who we’re dealing with and where they are.”

Stories of persons collecting more than one salary, and the continued presence on payroll of persons who are either deceased, retired or have left the Government’s service, have been rife within the public sector.

There are countless tales of persons who only appear once a month to collect a cheque, or who are just seen “clocking in/clocking out” at the beginning and end of the working day after

spending time on another job or in their own business.

Mr Turnquest said he did not want to “presuppose or prejudge” the outcome of the verification exercise, which will last from August 8 to August 31, or what it will yield in terms of potential cost savings for the Government.

“Until we know whom, if any, are included on such a list it’s difficult to say,” the Deputy Prime Minister said of the potential savings from eradicating “double dipping”.

“It’s part of the review of expenditure and resources,” Mr Turnquest confirmed.

Construction more robust, but no ‘hallelujah’ shout From pg B1 contractors were waiting “with bated breath” for “another jolt”, given that Desmond Bannister, minister of works, had suggested at last month’s

BCA luncheon that the Government is seeking to redevelop the Post Office building and Clarence A. Bain Building.

And Mr Sands praised the Minnis administration

THE TRIBUNE “We need to determine what we have in the public service, both in terms of who’s available, what skills they have, where they are located, and whether they exist or whether there is any duplication or phantoms in the system.

“This will help identify employees, and make sure they are deployed appropriately. We will go through the process and see what it determines.”

The Deputy Prime Minister confirmed the Minnis administration had requested the “verification exercise”, although he added that it was “not new” and normally carried out every two years.

All civil servants, whether employed monthly or weekly, have to present themselves and their

identification to “designated verification centres” during working hours between 9am and 4pm.

The exercise, which is to last from August 8 to August 31, also applies to Ministry of Foreign Affairs and Ministry of Tourism personnel deployed overseas.

“Persons who fail to present themselves to be verified will have their salary interrupted from September 2017 until such time as they comply with the verification and reinstatement process,” the Public Treasury’s circular warns.

“It is imperative that you inform all of your officers immediately, wherever they are assigned overseas and in the Bahamas, to present themselves to the

designated verification centres within the above time period.”

The Government’s move sends another signal of its intent to “drain the swamp” and impose discipline on the public sector’s spending/costs –- an action prompted by the Bahamas’ continuing fiscal crisis.

The Minnis administration, following the Prime Minister’s announcement of a 10 per cent “across the board” cut in government spending, likely sees the “verification exercise” as “low hanging fruit” in efforts to achieve its target.

Based on a $2.67 billion recurrent Budget for 20172018, the Government’s 10 per cent cut implies a savings target of around $267 million. If this target is hit, it would eliminate almost

83 per cent of the projected $323 million deficit, cutting it to $55.4 million.

Mr Turnquest hinted at the coming “verification exercise” over the weekend, stating that change would be “an uncomfortable position” for some persons, but adding that the Government would “certainly try to honour every commitment” it has made with the public sector trade unions.

“We don’t believe in padding the civil service to pick up the slack,” he told Tribune Business, “so as we find excess capacity we will deal with it.

“Those double dipping or outside the scale of the civil service, we’ll have to renegotiate those or take whatever action we have to do to ensure we bring the wage bill back in line.”

for “raising the bar” on the criteria for bidders on government contracts, requiring that they provide certification showing their qualifications in the relevant fields.

“There’s reasons for the data that’s been reported,” the BCA president said of the Central Bank figures.

“If you consider the end

of 2016, you would have been faced with Hurricane Matthew.

“That would have affected anyone’s ability to start construction in the 2016 fourth quarter and 2017 first quarter. I can’t argue against the numbers stated; they sound logical to me. But, while the market is sluggish, it’s not as sluggish as indicated by that report.”

Mr Sands explained: “It’s incredibly hard to find skilled tradespersons available right now in electrics, plumbing and carpentry.

When we see that, it tells us they’re engaged in work or

busy on projects already.

“Right now, I’m aggressively searching for skilled carpenters on the island, which suggests they are engaged in work whether on New Providence, Grand Bahama or Abaco. They are not available in numbers like they were last year.”

Mr Sands said this showed construction activity was “better than what was reported”, with business volumes generally above 2016 comparatives.

“I have a buddy in Abaco running four projects, coming to Nassau for carpenters, and he can’t find any,” he told Tribune Business. “It’s as busy as he’s been in the past three years, with four jobs all over $1 million.

“That’s the second home market in Abaco picking up. It’s a good sign when you have good numbers, and contractors are finding it difficult to staff a job. Mr Myers, too, at Caribbean Landscaping; he doesn’t have a challenge finding the work, he has a challenge supplying the work with labour.

“Things are a little better than we thought,” Mr Sands continued. “Government has to add to that with some level of capital expenditure, and balance opportunities for local contractors.

“It’s not the most robust, but it’s better compared to 2016.”

Mr Sands said Bahamian contractors were looking forward to “another jolt” if the Government followed through on Mr Bannister’s suggestions that it will seek to redevelop the Post Office building on East Hill Street, and the Clarence A. Bain building that once housed the Road Traffic Department and other agencies.

“We’re hopeful this will be the thing that gets us over the hump,” he added.

“We’re looking forward to this with bated breath.”

The BCA president also praised the Minnis administration’s efforts to pre-qualify bidders by requiring them to present evidence of their qualifications to do the job, such as certificates of industrial cleaning for a hospital cleaning contract.

“They’re raising the bar on expectations to qualify for bids,” he told Tribune Business. “It’s good for our industry.......

“Things are looking up, but let’s not shout ‘hallelujah’ yet. We’re progressing, but ultimately we don’t want to things are great yet.

It’s better than this period in 2016, but it could be better yet.”

Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

Vacancy

Property Manager Essential Functions

The Property Manager is primarily responsible for one home in addition to other high level responsibilities to serve the Club, as assigned by the General Manager. He/She will work directly with the home owner to plan and execute the overall management of property, maintain the highest level of service and supervision of all tasks including screening and overseeing outside vendors, contractors, construction projects, maintenance of grounds, and vehicles.

Duties and Responsibilities

• • • • • • • •

• •

Coordinates and manages all work performed on the residence.

Manage the budget for the home, ensuring the General Manager’s approval is secured prior to any variances.

Ensures home is secured daily and the owner’s specified standard of care for the residence is executed.

Assists owner with purchases, shipping and receiving of goods.

Ensure owners special requirements are taken care of.

Schedule Club’s resources in advance, such as housekeeping, concierge and other a la carte services.

Develop Standard Operating Procedures for the maintenance of the home.

Complete provisioning and purchasing for members and guests based on their requests and ensure accurate billing where required.

Conduct daily inspections/walk-thru of house when vacant to ensure air condition, lights, water and all other utilities are in away mode or otherwise as instructed by owner.

Perform additional tasks as assigned by the General Manager.

Minimum Experience Credentials • • • • • •

Minimum of 5 years’ experience in a similar or related capacity Strong organizational skills Strong communication skills (written and verbal) Ability to adapt to a flexible and fast-paced work schedule Ability to be physically active for long periods of time Hospitality background will be an advantage

Interested applicants can forward their information to www.hr@bakersbayclub.com on or before Friday, August 11, 2017 Only applicants contacted will be responded to.

THE TRIBUNE

Thursday, August 3, 2017, PAGE 5

Minister blasts ‘political expediency’ for lay-offs From pg B1 Government could find millions of dollars to take part-ownership of the Grand Lucayan it “can certainly find $500,000” to ensure another nine-11 persons were not added to Grand Bahama’s unemployment line.

Confirming that the Ministry is terminating nine persons in Grand Bahama, Mr D’Aguilar told Tribune Business: “Thirty to 60 days before the general election, the Ministry of Tourism employed 22 people at an additional cost to the Treasury of $750,000 a year.

“It’s unfortunate that we....... I guess that’s the way politics runs in this country.

It becomes politically expedient to hire a lot of people, and given Budgetary conditions and Budgetary reality, executives at the Ministry of Tourism thought these people are not all critical; not at this time.

“We can’t simply afford to absorb these additional costs,” Mr D’Aguilar continued, adding that not all new hires will be impacted.

“What we said is where we have need of a certain skill set, and where we felt a certain skill set is necessary, we will keep them.

“We are guided by the Budgetary constraints, and these people are in their probationary period.

Hopefully, we will get an opportunity to re-engage with them and bring them back.

“It’s gut wrenching, and I resent being put in this position, but when you’re running an organisation it’s important to make the right decision. These decisions made for political expediency, it’s irresponsible to have done that.”

Mr Wilchcombe, though, told Tribune Business: “I appeal directly to the Prime Minister to intervene in this matter and stop the process of putting more Bahamians in Grand Bahama on the unemployment line at a time when the Grand Bahama economy is

sluggish.

“Just recently the Government announced it would pump money into recovery efforts at the Grand Lucayan, a decision I welcome. If they can find millions for that, they can certainly find $500,000 to prevent putting 11 more Grand Bahamians on the unemployment line, mindful of the impact to their families and communities of these decisions.”

While acknowledging that Mr D’Aguilar needed to run the Ministry of Tourism as he sees fit, Mr Wilchcombe nevertheless argued that “his plans should not inflict hurt or pain on individuals” that were contributing to the industry’s development.

“Such decisions do not benefit the Bahamas, but inflict more pain on an island that unanimously agreed three months ago that it’s the people’s time,” the former PLP MP for West End and Bimini said.

Mr D’Aguilar indicated that Freeport’s weakened tourism industry, with 59 per cent of its room

OBIE WILCHCOMBE inventory out of action due to the Grand Lucayan closure and Memories pullout, may have influenced the Grand Bahama lay-offs as there was relatively little to be marketed.

“Hopefully we will get the economy moving and hotel open in Freeport,” he told Tribune Business.

“The time is coming, and the Government understands the critical need of getting that hotel open.

“I remain confident that in short order something will happen in Freeport to get the hotels back on stream. It’s a very fluid and moving situation.”

The termination of new hires is the second costcutting measure by the Ministry of Tourism under

NOTICE The Family of Ernest Miller Sr. will appreciate the support of all persons that are able to donate to Ernest’s Medical expenses.

Those willing to make donations can do so at Commonwealth Bank, Plaza Branch Mackey Street Account no.

7001007214.

We thank you in advance for your support.

OFFICE FOR SALE Office for sale, Cable Beach suitable for a small operation, real estate, accounting, attorney etc., private and secure, 3 parking spaces and visitors parking; 24 hour security provided, owner will have access to complex facilities, space for private functions, low CAM fees.

Call 242-468-4222 9am - 5pm serious inquiries please Price $350,000 gross

the Minnis administration, having previously recalled 12-15 persons back to Nassau after it amalgamated its Washington D.C. and Los Angeles offices with New York and Houston, respectively.

Mr D’Aguilar said that move would save around $1 million per annum, and was desperately needed following a 20 per cent or $14 million cut to the Ministry of Tourism’s 2017-2018 Budget.

He previously emphasised that the Budget cuts made it necessary to reduce the Ministry’s fixed overhead costs so that more monies could be dedicated to marketing the Bahamas’ tourism brand, which he described as its primary function.

This was reinforced yesterday by the Ministry of Tourism’s official release on

the impending redundancies, which emphasised that it would have been “fiscally irresponsible and counterproductive” to maintain fixed costs that exceeded its marketing budget.

The statement also indicated the difficulties facing the Government in its bid to cut public expenditure by 10 per cent, noting that fixed costs accounted for 75 per cent of the Ministry of Tourism’s Budget with “few dollars left” for promoting Bahamian tourism.

“After careful analysis of the Budget for fiscal 20172018, and review of the organisational structure, it is critical that we implement cost-cutting strategies within the Ministry of Tourism,” the Ministry said.

“It is imperative that costs are reduced and efficiencies increased, given that 75 per cent of our Budget is fixed

costs, with few dollars left for marketing, promotion and sales.”

It confirmed that “a workforce reduction strategy must be executed” as part of this plan, with the Ministry of Tourism confirming that it was seeking to become “a leaner, and more streamlined and efficient organisation”.

This process will involve reassigning staff; dissolving unnamed departments; repatriating workers from overseas; retirements and terminations.

“It would have been fiscally irresponsible and counterproductive to continue with operational costs outweighing the available marketing budget,” the Ministry of Tourism said, adding that its primary function was to market the Bahamas and grow tourism arrivals.

CAREER OPPORTUNITY Career opportunities are available for ambitious career-oriented individuals at a mid size hotel. We are inviting experienced persons to apply for the following positions:

Security Officer

Prime Responsibilities and Duties are:

Assist with any investigations involving guests and employees, prepare accurate reports and follow up action plans.

Ensure that any criminal activity does not hamper the smooth functioning of the hotel.

Assist with and ensure the accuracy of all industrial accident reports.

Take the lead on all incidents and emergencies.

Assist with the monitoring of camera system and scheduled patrolling of grounds.

Assist with the smooth and efficient running of the organization.

Qualifications & Experience Required:

Two or more years in the security or military (RBDF & RBPF) field.

Excellent leadership and communication skills.

The ability and interpersonal skills to relate with internal and external customers.

Ability to work as part of a team, as well as independently.

Must be computer literate with strong administrative skills.

Competitive salary and benefits package are commensurate with experience.

Interested persons should submit their resumes via e-mail to: recruitment.humanresources@outlook.com

PAGE 8, Thursday, August 3, 2017

THE TRIBUNE

Chamber executive’s gambling ‘scourge’ fear for Out Islands

Culinary degree from an approved school or completion of an approved apprentice program.

5 to 10 years in various supervisory positions in the kitchens including; sous chef and/or chef d’ cuisine position.

Previous experience in a hotel or private club is preferred.

Highly skilled cooking ability in all areas of kitchen including the ability to prepare various ethnic cuisines.

negatively impacting the islands; every last, single one. None is exempt.

“I’ve travelled to all the islands, except Acklins and Crooked Island, and seen it first hand,” Mr Simms added, “the negative effects of web shop gaming. We’ve had bouts with drugs, bouts with alcohol, and now it’s gaming.

“We have to have some meaningful discussions about the impact it is having, and where it is going... It can be physically seen in the Family Islands.

It’s very visible. We cannot run away from it. Eventually that problem will come to Nassau. Addiction is a very serious thing. We cannot continue to ignore it; we cannot.”

Mr Simms is not the first person to express fears about the impact from web shop gaming’s proliferation on Family Island economies. Former Long Island Chamber of Commerce head, Mario Cartwright, has also described the industry as “a scourge” that is “drying up” the island’s economy, forcing other businesses to close as residents prioritise gambling above everything else.

He told the island’s Business Outlook conference last year: “Playing numbers transcends everything in their lives. Money for gambling is set aside first before consideration is given for groceries, clothing and other vital household needs; it’s a pity.

“Every month, tens of thousands of dollars leave Long Island via human couriers who carry the money to the numbers house bosses in Nassau. This money never comes back.

This gambling scourge has caused a severe decay in the moral fibre of the Long Island community...

Legitimate businesses are suffering because the numbers houses are drying up Long Island’s economy one spin at a time.”

Mr Simms, too, said he

Interested applicants can forward their information to www.hr@bakersbayclub.com on or before Friday, August 11, 2017 Only applicants contacted will be responded to.

CALL 502-2394 TO ADVERTISE IN THE TRIBUNE TODAY!

From pg B1 following drugs and alcohol.

Pointing out that families were unable to buy basic necessities due to gambling problems, he warned

that the issue threatened to exacerbate Out Island depopulation, as economies dried up and persons left to seek work in New Providence.

Arguing that these issues

were being neglected, Mr Simms told Tribune Business: “It has greatly impacted the economy in a negative way, because that money being transported out of these islands is no longer in circulation.

“If that money is taken out, you have a smaller economy. It has not been a healthy relationship, and the social issues that have arisen because of the addiction to gambling is

Vacancy

Sous Chef Essential Functions

To assist the Executive Chef in the production and control of all food and beverage related job functions. Additionally, the Sous Chef will participate in the development and on-going process of staffing, menu planning, purchasing, cost controls, client interaction and guest experience assurance.

Duties and Responsibilities •

• •

•

•

Assisting in developing and maintaining a world class, world renown culinary and service experience for the exclusive use of the Club members and their invited guests.

Assisting in fostering a working environment that is in keeping with the project theme, values and club mission statement.

Assisting in establishing a “maximum operational efficiency” for all of the club’s kitchens and to ensure that food products prepared and served are of the highest quality.

Assisting with planning all meals; co-supervising, scheduling and coordinating the work of all kitchen employees, seeing that food preparation is economical and technically correct.

Assisting in developing and maintaining all control forms, policies and procedures manuals.

Minimum Experience Credentials •

•

• •

had witnessed occasions where “parents are unable to provide for their children because of gambling, so other persons in the community have to step up with their money to fill the hole created in an already struggling economy”.

This, he added, resulted in a negative “double impact” or economic ‘whammy’ - others having to replenish gambling addicts, and thereby reducing their own purchasing power, in addition to the monies taken out of these Family Island economies by the web shops “Now you have three scourges co-existing,” Mr Simms told Tribune Business, referring to drugs, alcohol and gaming. “Funds that once circulated island economies now leave the island. This negatively impacts Family Island economies, most of which are already struggling.”

He added that the situation threatened to further exacerbate the Family Island ‘brain drain’, as less money in circulation meant fewer business and employment opportunities, all of which could drive more residents to see work in New Providence.

“When you are on the island, there’s not too much activity other than to go fishing, drinking, and gambling is the next pastime,” Mr Simms added. “We had the drug scourge, we had the alcohol scourge, and now we have the gaming scourge.

“If it goes unchecked, what’s going to happen is we’re going to continue to have a numbers [of people] drain, because there is less money in circulation, which is a sign the economy is not doing well.

“Persons will most likely come into Nassau looking for jobs, as it is difficult to operate and live on the Family Islands because they’re already expensive,” he continued.

“From a social aspect, you’ll have an increase in welfare, and the state will have to look after people capable of sustaining themselves but are unable to do so because they’ve been

caught up in gambling addiction.”

Mr Simms said “all the major players” in the web shop industry, such as Island Luck and Asue Draw, had a presence across all the Family Islands - even in remote communities.

Other sources have suggested that web shops outnumber the churches in locations such as Long Island, and the withdrawal of commercial banks from the Out Islands is affording the web shop industry an opportunity to become even more deeply embedded in such communities.

Web shops are already effectively in the money transmission business through the ability to place money on a player’s account, and several - such as Island Luck - have made no secret of their ambitions to become licensed electronic payments solutions providers - effectively filling the void left by the commercial banks.

Mr Simms also expressed concern that increased gambling addiction would, much like drug addiction, result in rising crime as persons stole to feed their habits.

He questioned whether the Government was enforcing provisions in the Gaming Act and accompanying regulations that require web shops to assign a small portion of their earnings to finance education and anti-addiction programmes.

“It’s a very serious issue that the Commonwealth should look into; not in a cursory but in a meaningful way,” Mr Simms added.

“These issues plaguing the Family Islands will come to roost on New Providence if not addressed in the short-term.

“With a bit of vision can you see what is being created in the present for the future. We have to shift the view that, because we don’t see them (the Family Islands) they don’t exist or we will get to them at some point; this is not nation building. Rising tides lift all boats, and we have to do our best to positively impact the entire Commonwealth.”

THE TRIBUNE

Thursday, August 3, 2017, PAGE 9

Davis: Albany missed energy reply deadline From pg B1 Mr Davis added: “The Task Force reported that it had not found sufficient common denominators between the various proposals. They had a challenge undertaking a comparative analysis.

“What they did was they then invited the various entities, including Albany, to respond to questions which would have achieved that objective. Albany may have responded to those questions, but their response came after the timeframe which had been fixed for

responses. My recollection is that they did not respond in time.”

Mr Davis’s recollection was backed by a former high-level official in the Christie administration who, speaking on condition of anonymity, said the Opposition leader and Deepak Bhatnagar, who is still on the BPL Board, had primary responsibility for the initiative.

“There was a deadline issue,” the source said.

“There was no standard RFP that had been issued.

There were a bunch of

unsolicited proposals, of which Albany was one.

“To try and rationalise it, they sent out a list of questions and everyone had a timeframe to respond.

I don’t know if Albany responded in time.”

However, another contact intimately familiar with the Christie administration’s energy reform efforts provided a different explanation for why the Albany developers’ offer was rejected.

They explained that Albany’s proposal was structured such that it would finance the construction of a brand new, modern power plant for New Providence that would provide reliable energy at a cheaper price - in total contrast to what Bahamians now get from BPL. The power plant would have sold its electricity to BPL via a 20 or 25-year power purchase agreement (PPA), a standard industry contract, with the revenues generated used to provide a return on Albany’s capital and subsequently repay its principal.

“Albany didn’t have a vested interest in the buildout,” the source said, “they just wanted to finance the project and provide the

finance. But it was way too expensive in terms of the PPA, and the length of time it would have taken to pay them back under the PPA. “The then-government looked at it, reviewed it, did some real analysis of the deal, and concluded the deal was not in their best interests.”

They added: “Albany did quite a bit of research in terms of the best solution, and looked at a combined fuel operation, starting with burning heavy fuel oil (HFO) and transferring to liquefied natural gas (LNG).

“They did their research, did their homework, but long-term the price they were asking was way above what anybody thought was reasonable.” They suggested that Albany’s proposal priced the energy the plant would sell at 17-18 cents per kilowatt hour, when rivals were offering production prices of 9-10 cents per kilowatt hour.

Tribune Business understands that Albany’s proposal was especially active in late 2015 and early 2016, around the time that PowerSecure signed its fiveyear management contract to operate BPL.

Growing wholesale and retail company seeks to employ: GENERAL MANAGER WAREHOUSE MANAGER The Bahamas Public Services Union

MECHANIC SHIFT MANAGERS

Special General meetinG for nomination of officerS to Serve for 2017-2020 The Bahamas Public Services Union in accordance with Article 21-(i) of the Union’s Constitution will hold a Special General meeting, for the nomination of officers to serve for the year 2017 - 2020 on Thursday, August 17th, 2017 beginning at 6:00pm at the Bahamas Communication and Public Officers Union located Farrington Road, Nassau Bahamas.

Nomination forms may be collected at the Union’s Administration Office, Wulff Road between the hours of 9:30am to 4:40pm Monday through Friday commencing Thursday, 3rd August, 2017 Candidates for all positions are urged to collect and return the completed forms to the Secretary General on or before 5:00pm Wednesday, 15th August 2017.

Send resume to resume@acgbahamas.com

NOTICE TO:

ELRICH ARLINGTON WALKER Jr. Please contact MITRE COURT LAW FIRM Suite 227, Island Lane Building, Olde Towne, Sandyport Nassau, The Bahamas 242-327-4150 Contact: Atty C. Hepburn

This newspaper was informed that Albany and PowerSecure discussed the former’s proposal, and that it was quite happy for the US company to remain as BPL’s managing operator.

“They reached out to PowerSecure initially, had a few meetings, but government didn’t have the appetite for it at the time,” a source said, “having just signed on with PowerSecure.

“The Government did bring independent analysis to the table, and no common ground was to be found.”

Mr Anand declined to comment further when contacted by Tribune Business yesterday, but this newspaper understands he feels the main point he was trying to make became lost by the focus on Albany’s offer.

His remarks were intended to emphasise the desperate need for the Minnis administration to solve the Bahamas’ energy crisis as rapidly as possible, given that the supply of highcost, unreliable electricity is retarding both economic growth and household disposable income.

They were also designed to illustrate the ‘opportunity cost’ of the former Christie government’s five-year failure to properly resolve the problem, regardless of whether it selected Albany or any other proposal as the solution. Albany’s offer was designed to benefit the wider Bahamas, not itself, given that it has its own generator capacity for when BPL power is out.

Tribune Business understands that Albany feels its proposal was ultimately pushed aside by the Christie administration in favour of a “very weird” Request for Proposal (RFP) that saw New Fortress Energy selected as the preferred bidder - a deal exclusively revealed by Tribune Business.

Sources had described the Christie administration’s energy RFP, which was run out of the Prime Minister’s Office, as “very weird” and lacking in transparency, with different bid terms and criteria for different groups.

The multi-billion dollar AES Corporation described the process as “non-transparent” and “not what we are used to” in other central American and Caribbean markets where it has competed on LNG supply and power generation deals.

But members of the former Christie administration urged the Government to act swiftly and move ahead with the New Fortress, arguing that it would deliver significant energy cost savings and economic benefits for the Bahamian people. These ‘benefits’, though, were never quantified in terms of dollars and percentages.

Desmond Bannister, minister of works, told Tribune Business earlier this month that the Minnis administration would not be moving forward with the offer submitted by New Fortress Energy. He added that New Fortress, together with all potential bidders offering solutions to the Bahamas’ energy generation woes, would be invited to participate in a new Request for Proposal (RFP) exercise to be overseen by Bahamas Power & Light’s (BPL) new Board.

Mr Anand had urged the Minnis administration to “work with them” to solve the problems plaguing the electricity sector as well as the consistent fires at the New Providence Landfill. He made the remarks during a tour of Albany with Prime Minister Dr Hubert Minnis and members of his Cabinet on Tuesday.

POSITION AVAILABLE Project Manager/Site Supervisor The position is open to candidates with the following qualifications: -Bachelors Degree in Engineering, Construction -Management or related studies.

-Minimum of 5 years professional experience.

-Must have some project management experience.

-Proficient in Microsoft Word, Excel, Project and AutoCAD. PerSonal attributeS -Must be able to lead in planning and implementation of projects -Must be able to perform engineering duties -Must be able to oversee construction and maintenance of building structures and facilities -Must ensure that construction standards are met.

-Must be a “problem solver” with an eye for detail -Must have ability to identify priorities, meet deadlines in a timely manner -Provide direction and support to project team -Must possess good communication skills -Must be able to multi-task.

All interested applicants should email to

apexpavers@gmail.com.

PAGE 10, Thursday, August 3, 2017

THE TRIBUNE

APPLE TAKES DOW OVER 22,000 POINTS; OTHER STOCKS FALL

By MARLEY JAY Associated Press NEW YORK (AP) — Being the world’s most valuable public company has its privileges, like getting almost all the credit for the latest stock market milestone. Apple made its biggest jump in six months Wednesday, helping send the Dow Jones industrial average above 22,000 points for the first time.

Apple’s latest profit and revenue were better than analysts expected, and the company’s strong sales forecast suggests it’s confident the next iPhone will reach the market on time.

The technology giant’s stock climbed to an alltime high, and when some other technology companies, utilities and industrial firms joined it, that was just barely enough to take the Standard & Poor’s 500 index higher as well.

Much of the rest of the market was mixed, however, and most of the companies listed on the New York Stock Exchange fell. Movie theater companies tumbled after AMC Entertainment said U.S. box office grosses are sinking. Health care companies turned lower as prescription drug distributor Cardinal Health gave a weak forecast, mostly

NOTICE TO:

ARNOLD BROWN & LINDA BROWN Please contact MITRE COURT LAW FIRM Suite 227, Island Lane Building, Olde Towne, Sandyport Nassau, The Bahamas 242-327-4150 Contact: Atty C. Hepburn

TRADER PETER TUCHMAN, center, wears a “Dow 22,000” hat as he works on the floor of the New York Stock Exchange yesterday. Stocks are mostly lower at midday Wednesday, but a big gain for Apple sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)

because of falling generic drug prices. Retailers and shopping mall operators also sank.

The Dow average rose 52.32 points, or 0.2 percent, to 22,016.24. Apple was responsible for 48 of those points.

The Standard & Poor’s 500 index, a much broader market measure used by most professional investors, added 1.22 points, or less than 0.1 percent, to 2,477.57.

The Nasdaq composite inched down 0.29 points to 6,352.65. The Russell 2000 index of smaller-company

stocks shed 15.43 points, or 1.1 percent, to 1,412.90.

“The market’s not forgiving for any company that misses” Wall Street projections, said Edward Jones investment strategist Kate Warne. Overall, she said investors seem pleased that companies are reporting rising profits based on greater revenue and strong demand instead of stock buybacks and other financial moves.

Apple climbed $7.09, or 4.7 percent, to $157.14.

That was the first time it set a record high in almost three months. Its stock had

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SHARON ROLLEMOTT of Golden Gates#1 New Providence, Bahamas intend to change my name to SHARON ROLLE. 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 Bahamas no later than thirty (30) days after the date of the publication of this notice.

NOTICE

NOTICE is hereby given that WILKIN JOSEPH of Charles Sawyer Blvd., Marsh Harbour, Abaco, 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 27th Day of July, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, N.P., The Bahamas.

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

BISX ALL SHARE INDEX: CLOSE 1,857.54 | CHG -0.05 | %CHG 0.00 | YTD -80.67 | YTD% -4.16 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 19.17 9.09 3.60 2.41 0.13 6.50 8.60 6.00 10.60 14.49 2.52 1.60 6.00 10.00 11.00 10.00 7.25 12.51 11.00

52WK LOW 4.01 17.43 8.19 3.50 1.47 0.12 3.80 8.40 5.83 10.05 10.00 2.18 1.50 5.80 8.75 7.01 8.00 6.60 11.93 10.00

1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 105.00 100.00 100.00 10.00 1.01

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

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

52WK LOW 100.00 100.00 100.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +

SYMBOL FBB17 FBB18 FBB22

Bahamas Note 6.95 (2029) BGS: 2014-12-3Y BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.07 3.95 1.96 170.77 146.34 1.50 1.67 1.58 1.10 6.99 8.54 6.15 10.52 11.46 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.44 1.63 1.55 1.04 6.41 7.62 5.66 8.65 10.54 9.57

LAST CLOSE 4.27 17.43 9.09 3.60 1.47 0.12 4.00 8.60 6.00 10.45 10.01 2.60 1.55 6.00 9.75 7.01 10.00 7.01 12.50 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 108.61 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.27 17.43 9.09 3.60 1.47 0.12 4.00 8.60 6.00 10.45 10.01 2.54 1.55 6.00 9.75 7.01 10.00 7.01 12.50 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01

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

CLOSE 100.00 100.00 100.00

CHANGE 0.00 0.00 0.00

108.43 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.18 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 FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD 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

VOLUME 115

1,000

200

100

VOLUME

NAV 2.07 3.95 1.96 174.30 146.25 1.50 1.63 1.58 1.08 6.92 8.03 6.15 10.52 11.46 10.01

EPS$ 0.444 0.932 -0.510 0.383 -0.340 0.000 -0.760 0.587 0.190 0.540 0.570 0.102 0.455 0.753 0.763 0.330 0.830 0.600 0.697 0.000

DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.000 0.300 0.220 0.360 0.570 0.060 0.060 0.290 0.450 0.000 0.340 0.140 0.620 0.000

P/E 9.6 18.7 N/M 9.4 N/M N/M -5.3 14.7 31.6 19.4 17.6 24.9 3.4 8.0 12.8 21.2 12.0 11.7 17.9 0.0

YIELD 1.87% 5.74% 0.00% 5.83% 0.00% 0.00% 0.00% 3.49% 3.67% 3.44% 5.69% 2.36% 3.87% 4.83% 4.62% 0.00% 3.40% 2.00% 4.96% 0.00%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

INTEREST 7.00% 6.00% Prime + 1.75%

MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022

6.95% 4.00% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 15-Dec-2017 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 2.34% 4.55% 0.90% 1.64% 1.21% 2.55% 3.48% 4.01% 3.17% 7.00% 2.15% 4.22% -1.93% -1.89% 0.81% 2.21% 2.28% 1.30% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69%

NAV Date 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 31-May-2017 30-May-2017 30-May-2017 30-May-2017 30-May-2017 30-May-2017

MARKET TERMS 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

NOTICE

NOTICE is hereby given that JOSHUA MICHAEL JOYCE of 11 Bahama Sound, Georgetown, Exuma, 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 twentyeight days from the 27th day of July, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

MARKET REPORT WEDNESDAY, 2 AUGUST 2017

slipped recently in part because some investors were worried that production problems would delay the launch of the next iPhone, which would have hurt the company’s fourthquarter sales. But Apple’s revenue estimate was better than expected and greater than last year, when the iPhone 7 was released.

Movie theater operators and studios declined after AMC said U.S. box office receipts dropped 4.4 percent in the second quarter, and it expects the third quarter to be difficult as well. AMC it also taking a charge of $200 million because its investment in another chain, National CineMedia, lost value. The company is also planning to slash costs by cutting operating hours and staff levels while trying to boost revenue with new pricing plans and discounts.

AMC dropped $5.60, or 26.9 percent, to $15.20 and Cinemark Holdings lost $1.94, or 5.9 percent, to $37.82. Walt Disney fell

$1.04, or 1.8 percent, to $108.67. CBS gave up $1.27, or 1.9 percent, to $64.81 and Viacom dipped $1.44, or 4.1 percent, to $34.09.

Retailers also stumbled, which hurt smaller, U.S.focused companies. Big 5 Sporting Goods reported a weak profit and sales that fell short of analysts’ forecasts. Big 5 said sales of firearms, camping and water sports equipment fell, and its estimates for the current quarter fell short of Wall Street’s estimates. Its stock shed 85 cents, or 7.8 percent, to $10.10.

Car retailer AutoNation also had a disappointing quarter as prices for used cars fell. It dropped $3.01, or 7.2 percent, to $38.96.

Shopping mall operator GGP slid $1.13, or 4.9 percent, to $21.91 after it said it doesn’t plan to sell itself, and department store chain Nordstrom drooped $2.45, or 5 percent, to $46.49 on reports the Nordstrom family might not succeed in taking the struggling company private.

Prescription drug distributor Cardinal Health forecast a much smaller profit than analysts expected. The company said it’s being hurt by lower prices for generic drugs, as well as smaller increases in the prices of brand-name drugs and the loss of a contract with the Safeway grocery chain. The company’s stock lost $6.34, or 8.2 percent, to $70.99.

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

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

NOTICE is hereby given that ILLANTTE TELUS of Carmichael Road, 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 27th Day of July, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, N.P., The Bahamas.

Freeport law firm invites applications for the following position:

Associate Attorney – Litigation The successful candidate will be required to perform a full range of litigation tasks from case inception through discovery process, trial, post-trial proceedings and case closure; ability to draft pleadings and motions and research case law; support supervising attorney in the preparation of legal arguments; minimum of 5 years’ experience required.

Applicants must be able to work independently, possess exceptional organizational and communication skills and have a thorough working knowledge and technical competence in the particular area. Computer literacy, including advanced proficiency in the use of Microsoft applications required.

Compensation: commensurate with qualifications and experience, attractive benefits.

Only short-listed applicants will be contacted.

Reply in confidence to: freeportvacancies@gmail.com

THE TRIBUNE

Thursday, August 3, 2017, PAGE 11

Venezuelans lead UK firm that disputes Venezuela election

By DANICA KIRKA AND LEONORE SCHICK Associated Press LONDON (AP) — The allegation of electoral fraud in Venezuela was brought by an electronic voting company headquartered in England that counts the Latin American country as one of its oldest clients and promotes its technology as a way to ensure legitimate elections.

Smartmatic, whose chairman is a former deputy secretary-general of the United Nations and a current member of Britain’s House of Lords, has provided election services to

Venezuela since 2004, but never questioned the results of an election there until Wednesday.

“Even in moments of deep political conflict and division, we have been satisfied that the voting process and the count has been completely accurate,” CEO Antonio Mugica told reporters while announcing the company had determined the turnout figures for Sunday’s election for a constitutional assembly in Venezuela were tampered with.

Tibisay Lucena, the head of Venezuela’s National Electoral Council, denied Smartmatic’s allegation of

vote-tampering. He said the company played only a secondary role in the election and did not have access to complete data.

Smartmatic was created by Venezuelans to provide electronic voting machines used during the administration of the late President Hugo Chavez. It has branched out in recent years to provide the same services to countries around the world. Mugica and President Roger Pinate are both Venezuelans.

The company is part of SGO Group, headquartered in London, which describes itself as “a family of ventures” that is also working

VA C A N C Y

SOUS CHEF A fantastic opportunity has arisen to become part of our team. We are looking for an individual that not only demonstrates the skills listed below, but also has the ability to apply individual leadership and decision making to ensure our goals are achieved.

on technology to address issues such as identity verification, air pollution and government efficiency.

SGO reported a profit of $10.3 million on revenues of $129.2 million in 2015, the latest figures on file at Britain’s Companies House.

Smartmatic, which says it has counted 3.7 billion votes on five continents, has a core mission to stop voter fraud. Its clients range from Belgium and Estonia to Armenia, the Philippines and Haiti.

“Legitimate elections are essential to any modern democracy,” the company says on its website.

Mugica said there was a discrepancy of “at least 1 million votes” between the turnout figure announced by the Venezuelan government and those recorded

by Smartmatic’s systems.

He didn’t specify whether Smartmatic’s turnout figures were 1 million higher or lower than the more than

8 million votes announced by the government.

While the company’s systems can identify possible manipulation, people are needed to watch for evidence of electoral fraud, Mugica said. In previous Venezuelan elections, representatives from all political parties audited the vote count. On Sunday, no representatives of the parties were present, he said.

“Based on the robustness of our system, we know without any doubt that the turnout of a recent election for a National Constituent Assembly was manipulated,” Mugica said.

Venezuelan President Nicolas Maduro called the July 30 vote after weeks of protests fed by anger over food shortages, triple-digit inflation and high crime.

The newly elected assembly will have nearly unlimited powers to install an even more staunchly socialist state.

Tensions have escalated in the troubled Latin American country since government-allied election authorities announced their vote total. Opposition figures, who called for a boycott of the election, disputed the turnout figure, saying they estimated that 2 million to 3 million people cast ballots.

Mugica said Smartmatic announced its findings before informing the government.

“The authorities would not be sympathetic” to the company’s announcement, he said.

Smartmatic Chairman Mark Malloch-Brown is a former deputy secretary general of the United Nations and a former vice president of the World Bank. Malloch-Brown is currently a member of Britain’s House of Lords and a member of the global board of George Soros’ Open Society Foundation.

As our Sous Chef you will be required to meet the following requirements: • Manage the day-to-day operation of the kitchen.

• Assist with menu development and food cost.

• Roster staff to control labour cost.

• Ensure excellent Food Hygiene and Health & Safety standards at all times.

• Lead a team of experienced cooks, motivating and coaching the staff to support their personal development.

• Assist with the anticipation of trends, enacting approved

profit-oriented and cost saving ideas/activities.

Position Requirements: • A minimum of three (3) years of culinary and supervisory

experience required.

• An associate’s degree from a Culinary School of Arts or an equivalent is required.

Competitive salary and benefits package are commensurate with experience.

Interested persons should submit their resumes via e-mail to souschef2017@outlook.com COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division

2017 CLE/gen/No. 00569

IN THE MATTER of an Indenture of Mortgage made on the 26th day of June, A.D., 2006 between Andrea Mayann Seymour of the one part and FirstCaribbean International Bank (Bahamas) Limited of the other part and now of record in the Registry of Records in the City of Nassau in the Island of New Providence in Volume 9875 at pages 278 to 291 AND IN THE MATTER of the Conveyancing and Law of Property Act, Chapter 138 of the Statute Laws of The Bahamas BETWEEN FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED Plaintiff

AND ANDREA M. SEYMOUR-MCINTOSH

Defendant

NOTICE TAKE NOTICE that an action has been commenced against you in the Supreme Court, Common Law and Equity Division, Action No. CLE/gen/00569 of 2017, in which the Plaintiff, FirstCaribbean International Bank (Bahamas) Limited has issued an Originating Summons and Affidavit of Tamika Lightbourne, both filed on the 2nd day of May, A.D. 2017, seeking the following Orders:(i) Delivery of vacant possession of “ALL THAT piece parcel or lot of land situate in the Subdivision called and known as “TWYNAM HEIGHTS” (hereinafter referred to as “the said Subdivision”) situate in the Eastern District of the said Island of New Providence comprising Lot Number Four hundred and Twenty-seven (427)” (ii) Payment of all sums of all sums due and owing by the Defendant to the Plaintiff together with interest thereon; (iii) Further or other relief; and (iv) Costs.

TAKE FURTHER NOTICE that it was ordered on the 27th day of July, A.D., 2017 by the Deputy Registrar, Mrs. Carol Misiewicz (Actg) that the service of the aforesaid Originating Summons and Affidavit in the said action be effected on you by way of this Advertisement PLEASE TAKE FURTHER NOTICE that the said Affidavit of Tamika Lightbourne can be collected from the Chambers of the Plaintiff ’s Counsel as set out below AND FURTHER TAKE NOTICE that you must within twenty-one (21) days from the publication of this advertisement, inclusive of the day of such publication, acknowledge service of the said Originating Summons by completing a prescribed form of Acknowledgment of Service which may be obtained on request from the Plaintiff ’s Attorneys whose names and addresses appear below, otherwise judgment may be entered against you without further notice

I’m with you

in reaching your dreams Give them the opportunities you never had at school.

DATED the 27th day of July, A.D., 2017 HARRY B. SANDS, LOBOSKY & COMPANY Shirley House 253 Shirley Street Nassau, Bahamas Attorneys for the Plaintiff

/moneygram

moneygram.com

MoneyGram, the Globe and Bringing You Closer are marks of MoneyGram.

All other marks are the property of their respective owners.

17-02859

PAGE 12, Thursday, August 3, 2017

THE TRIBUNE

BIPARTISAN DRIVE TO PAY HEALTH INSURERS FACES SENATE HURDLES

By ALAN FRAM Associated Press WASHINGTON (AP) — A bipartisan Senate effort to continue federal payments to insurers and avert a costly rattling of health insurance markets faces a dicey future. The

uncertainty shows that last week’s wreck of the Republican drive to repeal the Affordable Care Act hasn’t blunted the issue’s sharpedged politics.

President Donald Trump is threatening to halt the payments in hopes of forcing Democrats to negotiate

an end to the Obama-era law. The insurance industry and lawmakers from both parties say blocking the money would lead insurers to raise premiums for people buying individual policies and might induce companies to abandon some markets.

Into the fray has stepped Sen. Lamar Alexander, R-Tenn., chairman of the Senate Health, Education, Labor and Pensions Committee.

He said he will work with the committee’s top Democrat, Sen. Patty Murray of Washington state, on a bill

next month that would pay insurers through 2018. In exchange, he wants Democrats to agree to make it easier for states to choose their own health coverage standards that insurers must provide, and not heed consumer-friendly requirements of former President Barack Obama’s law.

While that is an idea Democrats say they will discuss, it’s unclear whether the two parties can reach a deal.

For the GOP’s failed effort to repeal and replace Obama’s overhaul, Senate Republicans used special rules allowing passage by a simple majority. But this developing bill would need 60 votes to succeed.

Republicans hold a 52-48 advantage in the Senate, which means Democratic backing will be crucial.

Democrats will be reluctant to strike an agreement that would pull back far on Obama’s protections, which include a set of services insurers must cover and guarantees that premiums for healthy and seriously ill people are equal.

“It’s going to be hard to get common ground,” said Sen. Chris Murphy, D-Conn., a committee member.

“Republicans are going to want some initial flexibility” for coverage requirements, “and that’s not an easy thing to achieve.”

Republicans are divided, too.

Many, including Trump, have called the payments an insurers’ bailout. Conservatives are reluctant to continue payments to help sustain a law the GOP has pledged for years to toss out.

“I was a total repeal guy,” said Sen. Richard Shelby, R-Ala. “I don’t know if I want to prop it up.”

Added GOP Sen. Ted Cruz of Texas: “I think it’s a mistake to bail out insurance companies.”

Obama’s law requires insurers to reduce outof-pocket costs such as deductibles and copayments for millions of low- and middle-income customers.

It also requires the government to reimburse insurers for those costs.

SENATE HEALTH, Education, Labor and Pensions Committee Chairman Sen. Lamar Alexander, R-Tenn. speaks on Capitol Hill in Washington. A bipartisan Senate effort to continue federal payments to insurers and avert a costly rattling of insurance markets faces a dicey future, underscoring that last week’s wreck of the Republican drive to repeal the Obama health care law hasn’t eased the issue’s fraught politics. (AP Photo/Susan Walsh, File)

Comfort Suites Paradise Island Announces the Promotion of :

ALL THE PERKS OF COMFORT SUITES

ALL THE PLAY OF ATLANTIS

Lesley K. Taylor Assistant Director of Sales Ms. Lesley K. Taylor joined the Comfort Suites Paradise Island team in April 2014 in the capacity of Sales Coordinator. Her commitment to the company’s vision and team spirit led to her promotion as Senior Sales Coordinator in October 2014; Assistant Sales Manager in June 2015; Sales Manager in April 2016; and in June of 2017 she was promoted once again to the position of Assistant Director of Sales. Her continuous hard-work, determination and drive make her an asset to the Sales and Marketing Department at CSPI.

• Free access to all pool and beach activities at neighboring Atlantis • Complimentary full American buffet breakfast • Kids 11 and under stay free in room with parent** • Free Wi-Fi

• Free parking • Air conditioned Jr. suites with king size or two double beds • Pool with swim up bar • 32 inch flat screen televisions • Complimentary In-Room Safe

GREAT FOOD! GREAT PRICES!

Taste Perfection Join us for lunch & dinner at Comfort Suites Paradise Island Ext: 6376 or 6404

Maximum 4 persons per room, additional fees apply for mandatory taxes, mandatory housekeeping gratuities and utility service fees. Quoted rates are based on standard room category and subject to availability. Full American buffet a $58 value per room per day based on double occupancy. Free Wi-fi a $22 value per room per day. Free parking a $16 value per day. Cancellations must be received 72 hours prior to arrival or a 1-night penalty will apply. **Kids under 11 years of age stay and eat free in room with parent - breakfast, lunch & dinner.

ComfortSuitesPI.com | (242) 363-3680

/ComfortsuitesPI

Ms. Taylor began her exciting career in the hospitality industry in 2007 as a Sales Manager for a prominent Destination Management Company based in Ft. Lauderdale, Florida. This is where she discovered her passion for the hospitality industry. She is a true hospitality professional who strives to ensure her guests receive exemplary service with a personalized touch. One of her greatest joys is not only selling the destination and tourism product, but the fulfillment expressed by clients when their ideas and expectations are brought to fruition.

Ms. Taylor obtained a Bachelor’s degree in Marketing and Communications at Palm Beach Atlantic University in West Palm Beach, Florida. After the completion of her degree, Ms. Taylor worked in the United States to gain international experience and exposure. She is the current Sterling Award winner, having claimed the prestigious prize at the hotels 5th Annual Choice Awards hosted in December 2016. Ms. Taylor was bestowed this award for her outstanding contribution to the Sales & Marketing and Revenue Management teams as well as the company as a whole. She is an extremely organized individual, perfect for handling groups, food & beverage functions, and corporate events. Ms. Taylor is thrilled to be a member of the Comfort Suites Paradise Island management team and looks forward to aspiring to higher levels within the company; as the future Director of Marketing for CSPI whereby lending to the company’s continued success.

About Comfort Suites Paradise Island Comfort Suites Paradise Island is a part of the Choice Hotels brand and all guests receive complimentary access to the Atlantis, free Wi-Fi, complimentary full American buffet breakfast daily, free parking, complimentary in-room refrigerators and coffee makers, and full use of the hotel’s business center.

About Crusoe’s Restaurant Crusoe’s Restaurant is a full service restaurant and bar located at Comforts Suites Paradise Island.

A scrumptious luncheon menu as well as a delightful dinner menu is available for your enjoyment.

A Daily happy hour with fantastic drink specials is held between 4pm-6pm.

For information on how to book your own dining experience at Crusoe’s Restaurant, Vacation in Paradise, or Group, please contact: Comfort Suites Paradise Island Paradise Island Drive P.O. Box SS-6202 Nassau, The Bahamas Phone: (242) 363-3680/Fax: (242) 363-2588 Email: info@comfortsuitespi.com