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FRIDAY, AUGUST 10, 2018
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Family Island airport upgrades need $200m By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
T
OURISM and Aviation Minister Dionisio D’Aguilar yesterday lamented the “woefully inadequate” state of many of this nation’s Family Island airports, noting that government is now eying roughly $80m upgrades to two of their busiest airports. Mr D’Aguilar estimated close to $200m is needed now to bring all Family Island airports “up to speed”. Speaking with Tribune Business, Mr D’Aguilar acknowledged that government lacks the necessary
resources to carry out the needed upgrades and will have to get “creative”. He noted the current model of government-owned and operated Family Island airports was “no longer viable”. Mr D’Aguilar noted a 2014 survey by the Stantec consultancy group had identified the Moss Town airport in Exuma and the North Eleuthera airport as the next two busiest airports after New Providence and Abaco. The government is now eying upgrades to those two gateways. “The Stantec report looked at every single airport and identified those airports as the next two busiest airports in terms of passengers and airport
movement after Marsh Harbour,” he said. “In 2014, Stantec said an investment of $160m was needed to bring all of the airports up to speed. We think that number is up to $200m. Clearly there isn’t sufficient funding in the treasury to do that. “What was in a deplorable state then is in an even worst state now. Funding for the aviation sector has to be holistically looked at. How are we going to upgrade all these airports when the government doesn’t have the resources?” Of the 28 Family Island airports, 16 cater to international traffic and must meet International Civil Aviation Organisation
(ICAO) safety and security requirements for air travel - something he described as an extremely costly undertaking. Mr D’Aguilar stated: “Exuma and North Eleuthera will likely cost in the region of $40m each. Right off the top, you’re talking $80m. If you go to those islands today the terminal buildings they are woefully inadequate. The government really needs to upgrade the airport infrastructure.” Mr D’Aguilar suggested this could be achieved via public private partnership. “You could grant concessions to a private company to operate the airport. They would have to fix up the airport and in return they
DIONISIO D’AGUILAR
get to charge a fee to make a return on investment,” Mr D’Aguilar suggested. “We’re going to have to be a little creative. These airports are screaming for investment now and we’re going to be coming to Bahamians to say invest in this infrastructure and become owners with the government.” In order to maintain these upgraded facilities
Mr D’Aguilar said a passenger facility charge will likely have to be introduced in the family islands, similar to the Lynden Pindling International Airport (LPIA). “If you’re going to put $40m into an airport and want it to be maintained, the customary way to do that is for every one who uses it to pay a fee just as is done with LPIA,” he said.
Cannabis group argues for New funding sources vital clearer path forwards for fishing and farming By NATARIO MCKENZIE
By NATARIO MCKENZIE
nmckenzie@tribunemedia.net
nmckenzie@tribunemedia.net
Tribune Business Reporter
A GROUP advocating for the development of a marijuana industry in The Bahamas is calling on the government to develop a “regulatory pathway” to a clearly defined approach to its development. According to Terry Miller, chairman of the non-profit Bahamas Cannabis Research Institute (BACARI) due to rapid developments in the industry - which he said has substantial growth potential - BACARI is suggesting to the government
Tribune Business Reporter
“there needs to be a regulatory pathway to a clearly defined Bahamian cannabis approach”. “One of our primary objectives is to mount a Cannabis Awareness Campaign that will reach out to a large cross-section of
CIBC says - make that a double FOR the second year running CIBC FirstCaribbean has been named “Best Wealth Management Provider” in The Bahamas by World Finance magazine. “We’re absolutely thrilled,” said Brent Haines, centre manager, private wealth management. He stressed that client service was the real secret to their success. “The thing that differentiates us from most other people is our service to our clients. “We’ve got some of the best software currently
available. The clients that are using it are thrilled. It allows online access, so they can log in and see their account whenever they please from wherever they are on the planet as long as they have internet access. The experience is very transparent for clients - they see their portfolios, prices and net worth updated in real-time as the market moves. So, they love the software, but they also love my guys – our
SEE PAGE 3
Getting around made easy - in Kroozzy control By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net A NEW ride-share application aiming to “revolutionize Bahamian transportation” and provide ease of transport for locals and visitors alike is set to launch in New Providence in October, with its president telling Tribune Business the company already has its sights set on expansion throughout The Bahamas and the Caribbean. According to Vincent Wallace, president of
Kroozzy, the new ride-share service set to launch on October 1, already has over 50 licenced independent drivers. “We are excited to announce our ride-sharing application. Every month there are millions of people looking for a reliable and safe ride. Kroozzy operates similarly to other ride share applications. Our drivers are local, qualified, independent drivers. All drivers undergo an extensive background and screening process before
SEE PAGE 3
constituents including the Bahamas Christian Council, the umbrella unions, doctor associations, the Bahamas Chamber of Commerce and their members, the judiciary, police, various government
SEE PAGE 3
THE government over the next fiscal year will be “extremely aggressive” in seeking to help fisherman and farmers access funding opportunities, Agriculture and Marine Resources Minister Michael Pintard said yesterday describing the effort as a “major plank in our thrust going forward”. In an interview with Tribune Business Mr Pintard noted agriculture and marine resources are key areas where there
MICHAEL PINTARD is economic leakage. “The government is committed to growing the economy and reducing the amount of funds that go
out of the country in order to purchase those items we consume on a regular basis,” he said. “Agriculture and marine resources is one of the primary areas where there is economic leakage. We are importing 80 percent of what we consume. In terms of the food bill that is approximately $1.4bn annually. Our commitment is to dramatically reduce the amount we are spending for what is a necessity not just for the local population but the more than $5m tourists
SEE PAGE 3
PAGE 2, Friday, August 10, 2018
THE TRIBUNE
THE
If you’re a woman and the boss think about this
M
EN and women work side by side, tackling the same business problems, sitting through the same meetings and walking the same hallways. On the leadership front, however, that is usually where the common ground ends. Men and women experience very different workplaces, ones in which the odds for advancement vary widely and corporate careers come in two flavours: his and hers. Women perceive career advancement a steeper trek to the top. Some would claim that generally speaking, promotions are awarded fairly or that the best opportunities go to the mostdeserving employees while others might say gender has been a factor in missed raises and promotions. Even more believe their gender will make it harder for them to advance in the future—a sentiment most strongly felt by women at senior levels. Only in a perfect world are men and women on an equal footing in the workplace. Even when the woman is the boss she faces different obstacles than her male counterparts. Along the way many women in charge sometimes overcompensate. One common mistake is they tend to act like men. They try to be friends with male employees to even the playing field, sometimes using aggressive male tactics like severe discipline or verbal intimidation to be taken seriously. Today we provide basic tips for female supervisors and leaders who are charged with the responsibility of
spend lots of hours at work and may feel like they hold the cards at having their pick of handsome, available male employees. This breeds disorder and jealousy. Don’t do it! Kindly turn down proposals for dates. A woman in power is hot. Don’t abuse it, but be kind when you turn down offers.
IAN FERGUSON BY
leading men: 1. Act like a woman. Use your femininity in positive and constructive ways around the office. There is lots of power in that. A woman’s intuition is never to be underestimated and should be leveraged even in boardroom decisions. 2. Don’t become motherly. Women can invite too much emotion into their relationships with employees, blurring the line between boss and friend. Such blurring can go along for a time and it can feel cozy and wonderful, but it inevitably backfires when circumstances require the “friend” at the top to institute a strict workplace rule, for instance, or deliver a tough message about performance. 3. Don’t date or become seduced by your subordinates. Sad but true that many hardworking female bosses
4. Guard the manner in which you communicate. Men and women communicate differently at work. If not exactly two separate languages, but you may need to use alternative ways when giving men direction. Don’t communicate the same way with male employees like you would with female employees. It is a scientific fact that men process info and details differently than women. Learn how men communicate. Understand their short, curt answers or lack of providing every detail is not laziness or a personal vendetta against you, but just that men and women respond differently to the same information. At the end of the day, you not only want to be a good boss but an effective one who can rally her troops to success. • NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at iferguson@ bahamas.com.
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THE TRIBUNE
Friday, August 10, 2018, PAGE 3
Cannabis group argues for CIBC says - make that a double clearer path forwards FROM PAGE ONE
FROM PAGE ONE departments, and a cross section of civil society, to open dialogue and garner support for deregulation of cannabis for various purposes,” said Miller in a letter to Deputy Prime Minister K Peter Turnquest. “Recent reports of your government’s plan to create a Task Force to discuss possible legislation on medical marijuana spiked our interest, as the purpose for the committee is similar to what we at BACARI have been planning for the past several months. Our scope however goes beyond medical marijuana,
to developing a multi-faceted CDB/CDN and Hemp Industry and to deregulation for adult use including use for religious purposes.” The group is looking to sit with government to discuss its plans and share its expertise with the Task Force. “When we consider the recent CARICOM Report that suggested that marijuana be treated the same as alcohol and tobacco, and when we consider the fact that more than three out of four respondents in a recent local survey felt that marijuana is less harmful than alcohol, tobacco, and sugar, and when we consider all of the products that has been
and can be developed from marijuana/cannabis/hemp, BACARI is in full agreement with the principles of the CARICOM Report,” said Miller. He added BACARI’s goal is to become a leader in scientific research of not only cannabis but an array of Bahamian cultural bush medicines and other natural plant remedies, by establishing “one of the best research facilities” in the western hemisphere. Miller has previously told Tribune Business the economic economic benefit of a Bahamian marijuana industry is potentially in the tens of millions of dollars.
New funding sources vital for fishing and farming FROM PAGE ONE that visit.” He also noted there are other Bahamian made products which are “prime items” for import substitution. “There are non-food agriculture and marine resources products in excess of $1bn in value, including handcraft, souvenirs, mattresses, candles etc which are prime items for import substitution. A part of our mandate is to fix these age old problems that have spanned multiple administrations,” said Pintard.
“In this regard there are several things we are committed to doing. We know there are a number of agriculture and marine products which science tells us are viable when converted to business enterprise. The major constraint is financing. One of the major things we are doing over the next fiscal year is to match fishermen and agriculturalists with funding possibilities. Through the department of Agriculture and Marine Resources, BAIC and BAMSI we are going to be extremely aggressive in helping those
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entrepreneurs to properly prepare their business proposals and match them with funding possibilities.” Mr Pintard explained this could be made possible via the Venture Capital Fund, the Bahamas Development Bank, the Small and Medium Sized Business Enterprise as well as connecting entrepreneurs with venture capitalists. “That is one major plank in our thrust going forward, matching potentially viable start-ups and medium sized businesses with funding opportunities,” he said.
team is arguably second to none.” Haines also praised his colleagues who work behind the scenes to support the work of his section. “While we’re the face of the bank and the asset management side, many of our colleagues bring their skills, effort and hard work to bear to make us look as good as we do. Truly, it’s a team effort,” he said. The World Finance Banking Awards recognizes sector-leading expertise for
the banking industry globally. The selection panel uses a wide range of quantitative and qualitative criteria to select the award winners. Having already set the mark for themselves, Haines said CIBC FirstCaribbean’s Private Wealth Management team has a new feature in store that will hopefully help the bank replicate the win next year. “We’ve got world-class software and plan to install a new development that will give clients less variability in their portfolios, so they wind up with a smoother,
more consistent return. It offers true multi-currency capabilities and global custodianship,” said Haines. “We’ll be the first installation of this software anywhere on the planet, and we’ll be able to offer clients portfolios designed by some of the brightest minds in the investment arena. So, we’re hoping that will help us replicate the award in the coming year.” The bank’s Bahamas business was also recently named “Most Innovative Bank” by World Finance magazine.
GETTING AROUND MADE EASY - IN KROOZZY CONTROL FROM PAGE ONE being approved,” said Wallace. “Our vision is for locals and visitors to get around with ease. We currently have over 50 licenced, expert and independent drivers to take you throughout Nassau. Soon Kroozzy will be expanding services to our greater Family Islands and other Caribbean islands,” Wallace added. Wallace explained the Kroozzy app - now available for free download - allows a user to select their vehicle and confirm pickup and drop off locations. “The app displays the vehicle and driver on the
map and also the arrival estimated time for pickup. In fact, you can see the driver en-route in the app with the driver’s photo and vehicle details. With this option, transportation will be easy at anytime, anywhere, whether it is a pickup or drop at the airport, market, after shopping or from the beach after a day out with family to your residence or hotel. ”Kroozzy will revolutionize The Bahamian transportation and implement ride-share system across the country in an upward, onward, forward path to growth and innovation. “Kroozzy’s goal is to provide affordable transportation with a feel safe ride.
Bringing together Kroozzy and Public drivers will accelerate our collaborations with other islands and deliver even better experience to our drivers and riders. We are pleased to inform that the taxi and public drivers are also highly impressed with our service. We are particularly excited to work with other islands on delivering innovation, to natives and visiter around the island. With Kroozzy and public drivers partnership, we believe that integrating our service in partnership with the public sector will transform our country’s transportation landscape, increase ride-share, and make the island’s tourism reputation positive.”
VACANCY NOTICE
DIRECTOR OF ENTERPRISE SOLUTIONS Cable Bahamas Limited is seeking to employ a Director of Enterprise Solutions. Interested persons may apply by forwarding a resume stating their interest, relevant skills, and experience to humanresouces@cablebahamas.com on or before Tuesday, August 14, 2018. JOB SUMMARY The Director of Enterprise Solutions will be the lead in driving the development of technical solutions in both the Commercial and Residential markets within The Bahamas. This role’s primary responsibility is to generate revenue by developing and rolling out products on the fibre and Ethernet networks to enable the increase of sales, using market research, pricing, product communications, advertising and public relations. This position will also be responsible for new business development, product development and distribution channel management. JOB DESCRIPTION Duties will include but are not limited to: •Creating a clear enterprise solution strategy that encompasses all segments incorporating the Company’s mid to long-term strategic and annual business plans; •Maintaining and executing the strategic plan to research, identify and propose commercial and residential solutions and applications, while determining the prioritization and investment across companies; •Developing in depth understanding of networks and plan to maximize the capabilities within product sets. Develops, rationalizes, and aligns product roadmaps for enhancing capabilities; •Monitoring industry trends and evaluate new technologies for potential deployment and/or use to support emerging business needs; •Leading or supports the development of strategic directions and business roadmaps for the current state and the evolution of product deliver; •Initiates and manages engagement with external vendors and internal crossfunctional teams; •Developing strategy to obtain and maintain executive sponsorship/direction and communication. Communicate planning and strategy to executive sponsors, champions, and vendor partners; •Establishing strategic partnership with Sales, Network Operations, Engineering and IT; •Conducting industry analysis and research, develop and present business cases to grow revenue. Identify and develop business cases across companies to drive value such as operational efficiency, organizational effectiveness, cost reduction and revenue growth; •Providing oversight and tracking of financials by product. Completing budgets, forecasts and actuals to ensure alignment; •Leveraging the data and Ethernet communications capabilities with dedicated, high-performance connectivity; •Driving innovative solutions comprising but not limited to the following service offerings; •Ethernet Network Services: • Metro Ethernet Services • SDN-WAN • Hybrid WAN SKILLS, EXPERIENCE & QUALIFICATIONS REQUIRED •Requires BS/BA in a related discipline and 8 plus years of experience in related field (Telecommunications product development) and 5 plus years of experience in developing and implementing business and technology strategies for a telecommunications service provider; •Demonstrated experience in developing and executing product management; •Confident presence in client facing situations, polished verbal and written presentations, effective interpersonal skills, and strong collaboration skills, to partner effectively with teams throughout organization; •Must demonstrate strong people leadership skills, project management and communication skills; •Candidate should possess an understanding of program management; •Knowledge of telecommunications service offerings: Video, Voice, High Speed Data; •Experience in the Caribbean (specifically The Bahamas) and the United States preferred. Qualified applicants should submit Resumes on or before Tuesday, August 14, 2018, to the Director of Human Resources, PO BOX CB-13050, Nassau, Bahamas or send electronically with Ref: Director of Enterprise Solutions to humanresources@cablebahamas.com.
PAGE 4, Friday, August 10, 2018
THE TRIBUNE
Samsung’s new phone shows how hardware innovation has slowed NEW YORK Associated Press SAMSUNG’S new smartphone illustrates the limits of innovation at a time when hardware advances have slowed. The new phone, the Galaxy Note 9, will be faster and will last longer without a recharge. But while earthshattering new features are in short supply, it will carry an earth-shattering price tag: $1,000. The minor improvements reflect a smartphone industry that has largely pushed the limits on hardware. Major changes tend to come every few years rather than annually, and this isn’t the
year for anything revolutionary in the Note. The new phone will get some automatic photo editing and a stylus that can serve as a remote control. But the highlights will be a bigger battery, a faster processor and improved cellular speeds. “You don’t see massive breakthroughs anymore from a hardware perspective,” said Carolina Milanesi, an analyst with Creative Strategies. “Everything is a little bit better, but nothing’s revolutionary.” A 21 percent boost in battery capacity from last year’s Note 8 should translate to more than a day of normal use without a
recharge. Samsung has been conservative on battery improvements ever since its Note 7 phone in 2016 developed a tendency to burst into flame, prompting an expensive recall and delivering a hit to the company’s reputation. Since then, Samsung has subjected its phones to multiple inspections, including X-rays and stress tests at extreme temperatures. The company is also sending phones to outside labs, including UL, for independent safety tests. “We’re three generations removed now,” Samsung’s director of US product marketing, Suzanne De Silva, said of
www.ub.edu.bs
CAREER OPPORTUNITIES SENIOR MANAGEMENT
EXECUTIVE VICE PRESIDENT University of The Bahamas, a multi-campus, national system, is seeking nominations and applications for the position of Executive Vice President, reporting to the President, who will serve as the chief operating officer (COO) of the University of The Bahamas system. The EVP has the primary responsibility for assisting the President in maximizing the institution’s operating performance and achievement of goals. Primary responsibilities include, but are not limited to: • Overseeing the implementation of the University’s Board-approved strategic plan across all areas of the University; • Initiating and managing strategic alliances; • Participating in the development of operating and capital budgets; • Assuring effective guidelines and standard operating procedures for the management of the various units reporting to the President; • Working collaboratively with the President’s Cabinet and staff; • Providing the President and Board of Trustees with regular updates on the achievement status of the academic milestones, its admissions and retention initiatives and its strategic Planning initiatives; and • Assisting with fundraising and other development or alumni activities as required. Applicants should submit a Letter of Interest; Curriculum Vitae; and contact information for three professional references by Friday, 17th August 2018 to: Chief of Staff Email: maelynn.seymour-major@ub.edu.bs Office of the President University of The Bahamas University Drive P. O. Box N-4912 Nassau, The Bahamas Electronic applications preferred. The detailed position announcement is available online at http://www.ub.edu.bs/about-us/career-opportunities/administration/ .
OMBUDSMAN Suitably qualified candidates are invited to apply for the position of University Ombudsman, a designated impartial, neutral, and confidential third party, who assists students, faculty, staff, and administrators in dispute resolution through informal means, which includes consulting, negotiation, and mediation. Primary responsibilities include, but are not limited to: • Acting as liaison between individuals or groups and the campus administration by serving as a consultant, facilitator, and informal mediator and recommending steps toward problem resolution and appropriate action; • Consulting with campus departments and academic units to understand and resolve complex problems through informal discussion and developing cooperative strategies to prevent future problems; • Advising senior administrators responsible for policies and procedures that affect the welfare of the campus community; making appropriate recommendations to modify practices in order to reduce or eliminate recurring problems; working collaboratively with other offices and personnel whose responsibilities include policy analysis; • Developing and maintaining ongoing relationships with all campus constituencies to promote the value and process of conflict resolution; • Developing and conducting training and information sessions for the campus community about the Ombudsman’s role in university conflict resolution; • Working collaboratively with other campus personnel with conflict resolution interests and responsibilities; • Encouraging ethical behavior and practical solutions in resolving disputes and formulating recommendations; • Developing and maintaining an appropriate professional leadership role, consistent with the University of The Bahamas’ position in higher education and academe. Applicants should submit a letter of application highlighting work experience and accomplishments relevant to the position; resume; and the names and contact information of three professional references by Friday, 17th August 2018 to: Chairman, Board of Trustees C/O Board of Trustee Secretary via email: michael.stevenson@ub.edu.bs Office of University Secretary University of The Bahamas Poinciana Drive & University Drive P. O. Box N-4912 Nassau, The Bahamas Electronic applications preferred. The detailed position announcement is available online at http://www.ub.edu.bs/about-us/career-opportunities/administration/ .
THE SAMSUNG Galaxy Note 9. The improvements in the new Galaxy Note 9 phone reflect a smartphone industry that has largely pushed the limits on hardware. Photo: Richard Drew/AP the company’s renewed confidence in the battery. “This is the right innovation at the right time.” Although Samsung’s Note phones are large, niche products intended for power users, they offer a
preview of what’s to come in the mass-market Galaxy S line. A dual-lens camera, with better zooming, came to the Note 8 months before the S9 Plus got it, for instance. The Note also got curved edges before that
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, JASMINE QUINCY COLLIE, of St. Lucia Road, Golden Gates #2, New Providence, Bahamas mother of QuINTaNay mILLeR intend to change my name to HADASSAH YISRAEL BENJAMIN. 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 publication of this notice.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, JENNIFER MILLER, of Hope Garden, Nassau Village, New Providence, Bahamas mother of QuINTaNay mIller intend to change my child’s name to QUINTANAY PENNERMAN. 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 publication of this notice.
became standard on Samsung’s flagship phones. The new phones will come out Aug 24. Borrowing from the iPhone’s playbook, the Note 9 will have the same US price regardless of carrier. The starting price of $1,000 is an increase from the Note 8, but on par with Apple’s topof-the-line iPhone X. The Note 9 will get double the storage, at 128 gigabytes, compared with typical highend phones, including the iPhone X. Samsung will also sell a 512-gigabyte version for power users for $1,250. Even though the improvements from last year aren’t huge, Technalysis Research analyst Bob O’Donnell said they will come across as major for those who haven’t upgraded for a few years. Yesterday’s announcement in New York comes about a month before Apple is expected to unveil new iPhones. There’s been speculation — unconfirmed by Apple — that all new iPhones will ditch the home button and fingerprint sensor and rely entirely on facial-recognition technology found in the iPhone X.
THE TRIBUNE
Friday, August 10, 2018, PAGE 5
Tesla CEO’s buyout bid raises eyebrows, legal concerns SAN FRANCISCO Associated Press TESLA CEO Elon Musk is seeking relief from the pressures of running a publicly held company with a $72bn buyout of the electric car maker, but he may be acquiring new headaches with his peculiar handling of the proposed deal. Almost everything about the deal is outlandish, from Musk’s out-of-the-blue disclosure in a nine-word tweet to the assertion that he has lined up adequate financing to a buy a company that seems to burn through cash faster than it produces cars. If Musk can pull it off, he will have burnished his reputation as an eccentric visionary who has been compared to Tony Stark, the billionaire playboy depicted by actor Robert Downey Jr in the “Iron Man” movies. But if the buyout flops, Musk and Tesla will likely face class-action lawsuits from shareholders alleging
ELON MUSK they were duped, and potential legal trouble from the Securities and Exchange Commission, too. The SEC already has opened an inquiry into the wording and method of Musk’s disclosure about the deal, according to a Wednesday report in The Wall Street Journal , which cited unidentified people familiar with the matter. “It’s very obvious that Musk did not talk to any lawyers before he made his tweet,” said John Coffee Jr, a Columbia University law professor and
corporate-governance expert. Tesla didn’t respond to requests for comment Wednesday. The SEC declined to comment. Skepticism about the legitimacy of Musk’s proposed deal surfaced almost immediately after Musk dropped the bombshell on his Twitter account a few hours after the stock market opened Tuesday. “Am considering taking Tesla private at $420. Funding secured,” Musk tweeted, without elaboration or any corroboration from the company. It took about two hours before Tesla posted a Musk email to company employees on its website elaborating on his reasons for wanting to do the deal, making it clear he was serious. Before that happened, Tesla’s stock had already soared. Trading in Tesla’s stock was eventually halted until everyone could figure out what was going on. It wasn’t until Wednesday when six directors on
Tesla’s nine-member board publicly acknowledged that Musk approached them last week about pursuing the financing for a buyout that would take the company
off the stock market. Like Musk’s tweet and email to employees, the directors’ statement didn’t contain details on how the buyout would be financed.
The murkiness of the financing could turn into a legal mine field for Musk and Tesla, according to both Coffee and former SEC lawyer Pete Henning.
PAGE 6, Friday, August 10, 2018
THE TRIBUNE
Retail gains and bank losses leave US stocks little changed NEW YORK Associated Press MAJOR US indexes stood stock-still for the third consecutive day yesterday as gains for retailers were cancelled out by losses for banks and other companies. Energy companies again headed lower after a sharp
drop in oil prices the day before. Amazon and media company Viacom led consumer-focused companies higher. The Nasdaq composite inched higher and notched its eighth gain in a row. Banks fell along with interest rates after the Labor Department reported that wholesale prices were
little changed in July. That’s a sign inflation pressures weakened slightly, which could encourage the Federal Reserve to go slower in its process of raising interest rates. Trading this week has been light and investors seem to have set aside their worries about trade
tensions. The S&P 500 made a solid gain on Monday but has hardly budged since then. The VIX, a measure of how much volatility investors expect, has fallen to its lowest level since early January. “It’s not that risk has gone away,” said JJ Kinahan, chief market strategist for
NOTICE
NOTICE
Notice is hereby given that Mernide richeMond Miller of #158 Oleander St., Freeport, Grand Bahama, 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 signed statement of the facts within twenty-eight days from the 3rd August, 2018 to the Minister responsible for Nationality and Citizenship, P.O.Box N7147, Nassau, The Bahamas.
Notice is hereby given that DANY OLIBRICE of Matthew Street, Nassau Village, P.O.Box N9243, New Providence, 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 signed statement of the facts within twenty-eight days from the 3rd August, 2018 to the Minister responsible for Nationality and Citizenship, P.O.Box N7147, Nassau, The Bahamas.
NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Regal Columbian Investments Ltd. has been dissolved and has been struck from the Register with effect from 25th July, 2018.
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the abovenamed Company is in dissolution, which commenced on the 8th day of August, 2018. The Liquidator is Windermere Corporate Management Limited, East Bay Street, P.O. Box N-7797, Suite A-084, Nassau, Bahamas.
MARKET REPORT THURSDAY, 9 AUGUST 2018
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,943.37 | CHG 3.16 | %CHG 0.16 | YTD -117.20 | YTD% -5.58 BISX LISTED & TRADED SECURITIES 52WK LOW 3.50 19.17 7.50 3.32 0.90 0.12 2.90 8.50 6.09 3.32 9.00 2.30 1.40 7.25 6.00 9.50 5.67 3.25 12.50
1050.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
PREFERENCE SHARES
1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01
1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00
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 Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson 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
52WK LOW 100.00
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 ##########
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
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
SECURITY Fidelity Bank Note 22 (Series B) +
SYMBOL FBB22
Bahamas Note 6.95 (2029) 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 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407
BAHAMAS GOVERNMENT STOCK - (percentage pricing)
LAST CLOSE 4.45 17.43 9.09 4.06 1.00 0.18 2.90 9.13 6.15 3.75 11.42 2.74 1.75 7.93 6.21 11.25 6.35 3.75 13.00
CLOSE 4.50 17.43 9.09 4.06 1.00 0.18 2.90 9.13 6.15 3.75 11.42 2.74 1.75 7.80 6.21 11.49 6.35 3.75 13.00
CHANGE 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.13 0.00 0.24 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 1.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00
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
CLOSE 100.00
CHANGE 0.00
108.27 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
-0.08 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
LAST SALE 100.00 108.35 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
VOLUME 1,000
3,000
VOLUME
EPS$ 0.268 0.932 -0.306 0.283 -0.973 0.000 -0.996 0.638 0.573 0.171 0.627 0.102 0.231 0.000 0.545 0.679 0.719 0.277 0.631
DIV$ 0.100 1.130 0.000 0.230 0.000 0.010 0.000 0.710 0.220 0.120 0.620 0.060 0.070 0.084 0.320 0.500 0.200 0.120 0.580
P/E 16.8 18.7 N/M 14.3 N/M N/M -2.9 14.3 10.7 21.9 18.2 26.9 7.6 N/M 11.4 16.9 8.8 13.5 20.6
YIELD 2.22% 6.48% 0.00% 5.67% 0.00% 5.56% 0.00% 7.78% 3.58% 3.20% 5.43% 2.19% 4.00% 1.08% 5.15% 4.35% 3.15% 3.20% 4.46%
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 Prime + 1.75% 6.95% 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%
MATURITY 19-Oct-2022 ############### 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
MUTUAL FUNDS 52WK HI 2.16 4.16 2.00 180.30 157.58 1.56 1.70 1.64 1.10 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.45 11.20
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.50 1.62 1.58 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund 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 Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F
NAV 2.16 4.12 2.00 180.30 155.10 1.56 1.70 1.65 1.09 7.24 8.28 6.46 11.16 11.65 10.26 9.93 8.45 11.20
YTD% 12 MTH% 1.87% 3.98% -0.44% 4.28% 1.05% 2.26% 0.90% 3.44% 1.11% 6.05% 2.14% 4.33% 0.17% 4.01% 1.67% 4.18% -0.96% 0.73% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.61% 0.75% 1.13% N/A 2.95% N/A
NAV Date 30-Jun-2018 30-Jun-2018 29-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018
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
of its stores after regulators opposed a full sale. The company has been struggling with high debt and tough competition. Tribune Media withdrew from its planned sale to Sinclair Broadcasting and said it will sue Sinclair for breach of contract. Both stocks plunged in mid-July when the Federal Communications Commission expressed major concerns about the deal. Tribune rose 2.9 percent to $34.60 and Sinclair added 2.6 percent to $27.80. Electric car maker Tesla tumbled 4.8 percent to $352.45. The stock surged 11 percent Tuesday, mostly because CEO Elon Musk tweeted that he was considering taking Tesla private. The Wall Street Journal has reported that the Securities and Exchange Commission has opened an inquiry into the wording and the method of Musk’s announcement, while Bloomberg News reported that the SEC started an inquiry even before the tweet. Tesla has given up most of Tuesday’s gain, suggesting investors are dubious about the potential deal. Business information provider Dun & Bradstreet agreed to be bought by a group of investors for $145 a share, or about $5.4bn. The stock rallied 15.8 percent to $142.21.
N O T I C E BALCHENS HOLDINGS LIMITED (In Voluntary Liquidation)
Lynn Kelly and Halson Ferguson LIQUIDATORS c/o EFG Bank & Trust (Bahamas) Ltd Goodman’s Bay Corporate Centre, 3rd Floor West Bay Street and Sea View Drive P.O. Box CB 10956 Nassau, Bahamas
52WK HI 4.50 19.17 7.50 4.10 1.39 0.19 3.92 9.16 6.60 5.30 11.93 2.71 1.77 8.21 6.21 11.50 7.29 13.67 13.00
TD Ameritrade. “Quantifiable risk is not there right now.” The S&P 500 index fell in the final minutes of trading, closing down 4.12 points, or 0.1 percent, to 2,853.58. The Dow Jones Industrial Average slipped 74.52 points, or 0.3 percent, to 25,509.23. The Nasdaq composite added 3.46 points to 7,891.78. The Russell 2000, an index of smaller companies, added 4.01 points, or 0.2 percent, to 1,690.89. The Labor Department said wholesale prices were unchanged in July. Gas and food prices both slipped and soybeans prices tumbled, likely reflecting a buildup in stockpiles after China imposed tariffs on them in retaliation for US duties. Bond prices jumped. The yield on the ten-year Treasury note fell to 2.93 percent from 2.97 percent. That hurt banks, as lower interest rates make long-term loans like mortgages less profitable. Several companies traded on deal news, but most of the news was about deals that fell apart. Rite Aid called off its sale to the grocery chain Albertsons following opposition from advisory firms and one of Rite Aid’s biggest shareholders. Rite Aid fell 11.5 percent to $1.54. Walgreens tried to buy Rite Aid last year, but settled for buying about half
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
WINDERMERE CORPORATE MANAGEMENT LIMITED Liquidator Legal Notice
NOTICE
NOTICE IS HEREBY GIVEN as follows: (a) ELITE CAPITAL LIMITED is in dissolution under the provisions of the International Business Companies Act 2000 (b) The Dissolution of said Company commenced on August 9, 2018, when its Articles of Dissolution were submitted and registered by the Registrar General. (c) The Liquidator of the said company is Zakrit Services Ltd. of 2nd Terrace West, Centreville, Nassau, Bahamas. (d) All persons having Claims against the above-named Company are required on or before September 10, 2018 to send their names and addresses and particulars of their debts or claims to the Liquidator of the company or, in default thereof, they may be excluded from the benefit of any distribution made before such debts are proved. August 9, 2018 ZAKRIT SERVICES LTD. LIQUIDATOR OF THE ABOVE-NAMED COMPANY
THE TRIBUNE
Friday, August 10, 2018, PAGE 7
Court orders ban on harmful pesticide, says EPA violated law
WASHINGTON Associated Press A FEDERAL appeals court ruled yesterday that the Trump administration endangered public health by keeping a widely used pesticide on the market despite extensive scientific evidence that even tiny levels of exposure can harm babies’ brains. The 9th US Circuit Court of Appeals in San Francisco ordered the Environmental Protection Agency to remove chlorpyrifos from sale in the United States within 60 days. A coalition of farmworkers and environmental groups sued last year after then-EPA chief Scott Pruitt reversed an Obama-era effort to ban chlorpyrifos, which is widely sprayed on citrus fruit, apples and other crops. The attorneys general
for several states joined the case against EPA, including California, New York and Massachusetts. In a split decision, the court said yesterday that Pruitt, a Republican forced to resign earlier this summer amid ethics scandals, violated federal law by ignoring the conclusions of agency scientists that chlorpyrifos is harmful. “The panel held that there was no justification for the EPA’s decision in its 2017 order to maintain a tolerance for chlorpyrifos in the face of scientific evidence that its residue on food causes neurodevelopmental damage to children,” Judge Jed S Rakoff wrote in the court’s opinion. Michael Abboud, spokesman for acting EPA Administrator Andrew Wheeler, said the agency was
reviewing the decision, but it had been unable to “fully evaluate the pesticide using the best available, transparent science”. EPA could potentially appeal to the Supreme Court since one member of the three-judge panel dissented from the majority ruling. Environmental groups and public health advocates celebrated the court’s action as a major success. “Some things are too sacred to play politics with, and our kids top the list,” said Erik Olson, senior director of health and food at the Natural Resources Defense Council. “The court has made it clear that children’s health must come before powerful polluters. This is a victory for parents everywhere who want to feed their kids fruits and veggies without fear it’s
EMPLOYMENT OPPORTUNITY
VICE PRESIDENT MARKETING A progressive company is looking for a Vice President of Marketing. This position will be responsible for the strategy, tactics and programs to create interest, demand and recognition for the company’s products through the use of PR, Product Marketing, Creative Services, Advertising, Strategic Relationships, Direct, Event, Channel, Digital and Online Marketing. The ideal candidate must be well rounded in all aspects of marketing and sales methodology to both vertical and consumer customers. Extensive knowledge of technical markets, pricing models, consumer packaging, channels of distribution, technology trends, customer buying patterns, budgeting, public and investor relations, advertising, statistics and analysis, P&L background, direct marketing, telemarketing, planning skills, database marketing, competitive strategies, event marketing, channel marketing, merchandising, product marketing, product management, team management, presentation, sales and strong training skills during high growth stages. Core Responsibilities include:• Product management, pricing and business performance management for a company’s major lines of business; • Product life cycle management which includes all aspects of service development and evolution of the product; • Manages operating and expense budgets effectively to maximize profitability and minimize impacts on corporate costs; • Ensures all activities exemplify the corporate image and brand of the company; • Creates a highly effective team fluent in current industry trends, technology changes and market conditions; • Ensures products adhere to applicable policies, practices, regulations, and privacy requirements; • Product portfolio which includes revenue, subscribers, market, share and churn targets • Portfolio plan development and business performance of products including profitability, expense management, and inventory management; • Provides inputs into the forecasting process and ongoing forecasting updates; • Identifies emerging areas of focus and high quality ideas in consultation with product marketing, technology, operations and senior management; • Leads cross-functional multi-disciplined teams in the research, evaluation, system design, requirement definition and process development for service delivery; • Negotiates, establishes and maximizes third party relationships that deliver advantageous results and protect the company’s interests; • Ensures that the company’s products and pricing are positioned competitively through proactive monitoring and research of the marketplace and competitors; • Spearheads timely tactics to counter competitive threats; • Ensures channels to market are supported and effectively maintained by providing sales aids, value propositions, product information and sales training for all marketing-related initiatives; • Drives marketing activity to ensure alignment with marketing plans, and gains the understanding and commitment of stakeholders; • Provides marketing leadership, direction and coaching to inspire, motivate and enable a positive and productive work environment for direct reports and cross-functional teams; • Create key performance metrics to measure customer experience and brand awareness, capturing customer behavior, analysis of results, and development of cross-departmental recommendations. Required Skills, Experience & Qualifications • A Bachelor’s degree in Marketing, Branding or related field; • Ten (10) plus years’ experience in a senior marketing role; • Demonstrated experience and leadership in managing comprehensive strategic; marketing, communications, media relations, and marketing programs to advance an organization’s mission and goals; • Superior management skills with the ability to influence and engage direct and indirect reports and peers; • Ability to manage influence through persuasion, negotiation, and consensus building; • Combined background of post-sale and sales experience an asset; • Strong empathy for customers AND passion for revenue and growth; • Analytical and process-oriented mindset; • Excellent communicator with superior verbal, written, interpersonal, technical and presentation skills; • Ability to think critically and problem solve in a fast-paced environment. Qualified applicants should submit Resumes on or before, August 15, 2018 electronically to the following email address: careers242@coralwave.com with Subject: Vice President Marketing.
harming their brains or poisoning communities.” The attorneys general of California and New York also claimed victory. “This is one more example of how then-EPA Administrator Scott Pruitt skirted the law and endangered the health of our children — in this case, all because he refused to curb pesticide levels found in food,” Attorney General Xavier Becerra of California said in a statement. Chlorpyrifos was created by Dow Chemical Co in the 1960s. It remains among the most widely used agricultural pesticides in the United
States, with the chemical giant selling about five million pounds domestically each year through its subsidiary Dow AgroSciences. Dow did not respond to an email seeking comment. In past statements, the company has contended the chemical helps American farmers feed the world “with full respect for human health and the environment”. Chlorpyrifos belongs to a family of organophosphate pesticides that are chemically similar to a chemical warfare agent developed by Nazi Germany before World War II.
As a result of its wide use as a pesticide over the past four decades, traces of chlorpyrifos are commonly found in sources of drinking water. A 2012 study at the University of California at Berkeley found that 87 percent of umbilical-cord blood samples tested from newborn babies contained detectable levels of the pesticide. Under pressure from federal regulators, Dow voluntarily withdrew chlorpyrifos for use as a home insecticide in 2000. EPA also placed “no-spray” buffer zones around sensitive sites, such as schools, in 2012.
PAGE 8, Friday, August 10, 2018
THE TRIBUNE
Uber faces new roadblock in New York on its way to IPO
CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY
T SAN FRANCISCO Associated Press UBER will have to navigate around a new regulatory pothole in New York on an already bumpy road to its initial public offering of stock next year. New York City is imposing a one-year moratorium on ride-hailing licenses in Uber’s largest US market, raising the specter that other cities may adopt similar crackdowns as they try to ease traffic congestion. If that were to happen, it would be more difficult for Uber to boost its revenue and reverse its history of uninterrupted losses. That, in turn, would affect the price that investors are willing to pay for Uber’s stock in the IPO that the San Francisco company plans to make next year. “This can be viewed as a negative outcome for ridehailing companies,” said Rohit Kulkarni, managing director of SharesPost, a firm that tracks privately held companies such as Uber. The attempt to rein in ride-hailing companies in New York is the latest challenge to confront Uber during nearly two years of turmoil. Among other things, Uber has been rocked by revelations of a culture poisoned by a pattern of
sexual harassment and other abuses that included a yearlong cover-up of a major computer break-in and the use of duplicitous software to thwart government regulators. Uber brought in a new CEO, Dara Khosrowshahi, nearly a year ago to clean things up. Investors who have poured money into Uber leading up to the IPO have valued it at $62bn. That lofty assessment reflects how dramatically the 9-year-old company has transformed the way people get around since it introduced the concept of using a smartphone app to summon a driver using their own car to pick them up. Millions of people around the world now drive and ride through Uber’s apps, growth that was spurred in large part because the company hasn’t had to deal with the same strict regulations and government bureaucracy as taxi cabs. But that has been changing in recent years as more cities around the world try to balance the popularity of ride-hailing services with traffic management, safety concerns and demands to protect the long-regulated taxi industry. Last year, London kicked Uber out of its city, but that ban was lifted earlier this year by a magistrate. Even so, Uber was only given a 15-month permit to operate
instead of the five-year license it wanted. “Essentially, we are seeing more regulation of a platform that hadn’t been in its early years,” said Gartner analyst Mike Ramsey. “And I think people who have been investing in the platform are coming to that realisation.” For its part, Uber is trying to make a case that New York City is heading in the wrong direction by curtailing the growth of ridehailing services to control traffic. It believes charging more for rides during times of bad congestion is a better solution, something it says it intends to do in New York. New York’s moratorium on new ride-hailing licenses could give Uber and its rival, Lyft, more leverage to raise their prices if the restrictions cause demand to outstrip the supply of cars available to pick up riders, Kulkarni said. Other high-profile companies have thrived while dealing with regulatory challenges and uncertainty. Most notably, e-commerce leader Amazon.com was locked in a long-running battle over when and where it should collect sales taxes on online purchases for more than a decade before the US Supreme Court finally resolved the issue in June. Amazon is now valued at $925bn, second only to Apple.
he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned. YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides. Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property. This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home. We look forward to your continued support in this worthwhile endeavour.
MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100
CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus
OPPORTUNITIES • • • •
Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters
BENEFITS
• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care
For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115
