Environment specialists sign up to roles at Lighthouse Point
By YOURI KEMP Tribune ReporterBusiness ykemp@tribunemedia.net DISNEY Cruise line (DCL) has recruited more Bahamians to fill positions for its Eleuthera Light house Point project. In a statement, DCL named Bradley Watson of Nassau as Bahamas con servation programmes manager and Pachancia Knowles, also a Nassaunative, as Bahamas assistant conservation programmes manager.Thesenewly created posi tions based in Eleuthera will lead the implementation of DCL’s environmental management plan and local conservation strategies within The Bahamas. “At Disney, our approach to protecting the envi ronment has always been centered on the idea that people are the key to meaningful and lasting con servation success,” said Dr Andy Stamper, conserva tion science manager with Disney’s animals, science and environment. “Bradley and Pachancia’s expertise and history of work in The Bahamas will be tremen dously valuable as we carry forward our commitment to people, wildlife and nature in the region. We are excited to welcome them to the Disney team.” For the past three years, Mr Watson championed several andtionheNationalofficerandAbaco,ismconservationcommunity-drivenandecotourprojectsthroughoutGrandBahamaEleutheraasasciencewiththeBahamasTrust.Inthisrole,ledsuccessfulconservaeffortsonbothprivatepubliclandsincluding
BY DENISE MAYCOCK Tribune ReporterFreeport dmaycock@tribunemedia.net
AN ABACO poultry farm needs just $150,000 to start their own hatch ery in efforts to beat supply chain woes.Lance Pinder, Abaco Big Bird Poultry’s operations manager, told Tribune Business he needs $150,000 to start a bird hatchery at his Abaco plant and all it takes is four months to get it up and running.
business@tribunemedia.net THURSDAY, AUGUST 18, 2022
THE Bahamas Taxi Cab Union (BTCU) president says the elderly are suffer ing due to the 200 percent increase in the govern ment’s taxi plate giveaway and many will “cry out” this coming September. Wesley Ferguson, told Tribune Business thatthe government gave out too many taxi plates in its latest exercise and drivers are now suffering because the market is now satu rated with additional taxi drivers. “We only asked for 200 plates but the ministry (of Transport and Hous ing) gave out 600.” Between June and July, the Ministry of Transport and Housing gave out 580 taxi plates, reports indi cate, well above the 200 Mr Ferguson had initially asked and negotiated for. Despite 90 of the inactive taxi plates being revoked, he said this is still too high a number of taxi plates issued for drivers. Mr Ferguson added: “We did not anticipate or take into consideration the elderly people, the dis enfranchised people, the poor and weak among us and those people are now suffering as a result of the many taxi plates that were issued.“Now those people who were depending on taxi plate income are now the ones who are suffer ing including the BTCU because we managed a lot of those plates.” The BTCU had a longstanding agreement with some of its retired mem bers that they would hold on to their taxi plates for safe keeping and use the revenue from their plates as retirement income for those retired drivers and their spouses. This has now been placed in jeop ardy with the exponential increase in taxi plates cou pled with the revocation of what was determined as dormant plates. The lifting of the mora torium on taxi plates was what Mr Ferguson wanted initially, but “didn’t take the elderly into considera tion.” He added: “I did my best because I was trying to get my minister (JoBeth Coleby-Davis) or the gov ernment of The Bahamas to actually subsidise the union, so we could now purchase cars in these peo ple’s names and put it on the road. It was supposed to be like an employment opportunity, where those people who want to get into the industry ad don’t have a taxi plate or don’t have the means to buy a car can come to the union and get a job as a taxi driver.” hurt
elderly’ warns union chief SEE PAGE B3 SEE PAGE B4 SEE PAGE B2 SEE PAGE B2 WESLEY FERGUSON $6.92 $6.97 $6.66 $6.30
By YOURI KEMP Tribune ReporterBusiness ykemp@tribunemedia.net
Abaco poultry farm may aim to launch $150k hatchery
‘Moving services online is the right way to go’
‘Too many taxi plates will
By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net
THE Freeport Con tainer Port reached a major milestone this summer, celebrating 25 years in oper ation on Grand Bahama. On July 16, 1997, FCP opened its doors. It serves as the natural transship ment hub for the Eastern seaboard of the Americas and the principal East/West Line Haul routes through the region. It is a member of Hutchison Ports, the port and related services division of CK Hutchison Holding Limited (CK Hutchison). The company and its opera tions have been expanded over the past two and a half decades.CEO Alan Dixon com mended the team for reaching this milestone. “When we opened the doors at FCP in 1997, our operation started with a team of 65 people and four cranes. From those humble beginnings, our team has grown 10 times its original size as we progressively upgraded and expanded Freeport Container Port celebrates 25th anniversary
Mr Pinder said: “The only thing is now we need to find eggs. That’ll be the first step, because right now we have to order eggs from Belgium because we can’t find them in the US.”He added: “Those eggs we are get ting from Belgium we will send them to the hatchery in Miami for them to hatch them so we can get birds, but that’s not going to help me out for the next six to eight weeks and in the meantime we are going to be out of product.”
By YOURI KEMP Tribune ReporterBusiness ykemp@tribunemedia.net INFORMATION tech nology professionals have hailed the government’s efforts to provide grant funding for digital inno vators for public sector efficiency.Philip Darville, owner/ operator of SolveIt Baha mas, told Tribune Business the government moving to automate more of its ser vices is worldeverywhere“commonplace”elseinthebecausethisiswhatis needed to conduct business effectively nowadays. He said: “The way we’ve been operating in a legacy environment is just counterproductive to all stakeholders especially the ones you are providing the solutions for. So essentially they should shift to more of a one government model.” The government has announced that Baha mian innovators and tech entrepreneurs are being urged to participate in a digital innovation project to develop technological solutions, which will bring SEE PAGE B3
The global supply chain issues is taking a toll on the agricultural industry and there is no sign of the matter being sorted out in the short to medium term as containers are still backed up in China that were on route to the US. As a result of this it is going to take a while to move eggs from Belgium to their Miami hatchery.MrPinder added: “Now the hatch ery is one side, but then you also have to do your own breeder programme
PAGE 2, Thursday, August 18, 2022 THE TRIBUNE
Freeport Container Port celebrates 25th anniversary FROM PAGE B1
During normal times, Abaco Big Bird has to source chicks from Miami, Florida. But now, they have to source chicks from as far as Iowa, which pre sents numerous logistics challenges as it did at the end of July when they lost 3,000 chicks on route from Iowa through Miami Inter national Airport after they were left on Tarmac over night and died. Chicks directly from their regular hatchery in Miami take 45 minutes to get into the country, but now Abaco Big Bird has to plan their routes out weeks in advance with a lot more players logistically involved in the process.MrPinder said: “We have been having problems get ting chicks in since January. That’s why those chicks have been coming from as far as Iowa and that’s just not feasible. It’s something we tried, but it is just logis tically a nightmare. Things are really bad now because the chick shortage isn’t get ting any better.”
Team members and their families also gathered for a day of celebration. During a brief ceremony, senior management recognized five long-serving employees who have contributed 25 years of service to the busi ness, having been employed at FCP since its inception. There were also open bus tours of the quay, family games, and prizes, an interdepartmental Tug of War Tournament, Team Talent Showcase, as well as lots of food, treats, and enter tainment provided by local vendors.Ataprivate reception for close friends and family of Freeport Container Port, the Rt. Hon. Philip Davis, Prime Minister of the Baha mas, thanked FCP for the pivotal role it has played in the Bahamian economy. He praised the business as a model for the advancement of workers in the industrial sector.FCP extended thanks for all the wonderful friend ships and bonds developed over the years from peers in corporate Grand Bahama and the indus trial sector, and especially the consistent support of the Government of The Bahamas.
FROM PAGE B1 ABACO POULTRY FARM MAY AIM TO LAUNCH $150K HATCHERY
our terminal and equip ment,” he said. “Over the years, we have faced some difficult times –global economic downturn as well as loss equipment and tragically, even some of our own people, yet we have persevered. And those challenges helped to pre pare us not only for today but for tomorrow. FCP has proved time and time again that its team is adaptable, courageous, and resilient.” Mr Dixon highlighted positive developments the business continues to make, especially in recent months. “This year, we have constructed three new onsite green spaces – now known as “Breathe Zones” – making our terminal ‘greener’ and providing our team members a space to unwind and recharge on property.“We’ve also been working to improve work-life bal ance, acknowledging that we must prioritize happy, healthy people to sustain our business. We intend to move forward in this direc tion, with people at the heart, always,” he stated. In commemoration of its 25-year milestone, Hutch ison Ports FCP celebrated its employees and also gave back to the community in a special way. In the 25 days leading up to the 25th anniversary, the company and its employ ees participated in a series of fundraisers and commu nity-conscious activities. Departments across the business demonstrated their creativity through events such as bake sales, raffles, fish fries, school, and beach clean-ups, and food drives. Through the team’s col lective fundraising efforts, along with support from its sister company, Free port Harbour Company Ltd. as well as friends from the corporate community, Team FCP raised funds to fully cover a one-day round trip excursion to Baha Bay Water Park at Baha Mar in New Providence for 20 chil dren at the Grand Bahama Children’s Home, as well as their chaperones, recogniz ing that the children at the home have faced much loss and hardship, especially in recent years as a result of Hurricane Dorian in 2019. Mr Dixon made the presentation to Ms June Hutcheson, Executive Director of the Grand Bahama Children’s Home, during the FCP’s 25th Anniversary Countdown: A Family Fun Day event held at the terminal.
ALAN DIXON, CEO, Hutchison Ports FCP makes a special presentation to June Hutcheson, Executive Director, Grand Bahama Children’s Home on behalf of the team and friends of Freeport Container Port.
too. That’s a whole other part of the operation. In the US, you have different entities that do all of these things, one for breeder chickens, one for the hatchery and another for processing.“Wecan have our hatch ery but we are still going to need eggs and those things are specialised things. You can get the eggs and hatch your own, but you also need breeder chicken parent stock. There is a five year waitlist for breeder stock.” But in Abaco, Mr Pinder can do all of that on his property because the market is small enough for him to supply the demand. “I would also support some one else who would want to start a hatchery here because right now we still have to get our plant back up to standard after Hur ricane Dorian. From what I know, there was another person out there looking into building a hatchery, but he has run into funding problems and it has stalled. I would support them if they get sorted out.”
“What we are looking for is a significant investment in IT and we have not had that. There has been loans from the IDB (Inter-Amer ican Development Bank) that’s surely in the millions of dollars, but in the end those interventions tar geted just a small number of agencies for some level of Theautomation.”government is rolling out its E-Services system, “MyGateway Bahamas” and has already integrated the Road Traffic Depart ment for driver’s licences and character reference certificates from the Royal Bahamas Police Force. But more needs to be done to “cut the red tape,” in the publicClydesector.Symonette, Infor mation Specialists Ltd’s (ISL) managing director, said: “The MyGateway service works very well. You can sit at home and basically complete your applications for what you need and not have to stand on a long line. I have no complaints with it.”
Mr Symonette also has created a software manage ment system, the “Single Window Management” (SWIM) system, to assist with the new Customs Department “Click2Clear” system that allows users to upload their invoices directly to the Click2Clear system in a seamless manner which saves hours of data inputting time for businesses.MrSymonette also wanted to take the SWIM process in an attempt to apply it to air arrivals, which he estimates will save time for processing inbound traffic as they enter the country but also would col late and document goods entering the country by inbound travellers. How ever, his initial approach to the government during the previous Free National Movement administration was met with a cool shoul der and he was dissuaded from formally submitting a proposal. This new grant initiative may give new life to his ambitions.
specialists
Lighthouse Point FROM PAGE B1 FROM PAGE B1
a monitoring programme to protect a rare species of songbird, drone mapping of vulnerable ecosystems and increasing awareness to endangered animals. As a result of these efforts and others, Watson was named The Bahamas’ national youth climate ambassador earlier this year. Mr Watson has a passion for educating the public on the importance of environ mental conservation and sustainable development projects. He has held teach ing assistant and mentorship roles at various colleges and universities, conducted ecotourism guide trainings throughout The Bahamas, and served on the board of directors for the Center for Ocean Research and Education.“Ilove my country, the environment and the people who live in it, and that is why I am work ing to develop a future where each can thrive,” he said. “I’m excited to join Disney Cruise Line and help facilitate sustainable economic opportunities for Bahamians while also pro tecting the environment so we can better prepare for the future and unlock the unlimited potential of The Bahamas.” Ms Knowles served as marine science officer with the Bahamas National Trust since January 2020. She was responsible for sev eral marine monitoring and restoration programs within The Bahamas national parks, including coral reef nurseries and the North ern Mangrove Restoration Project in the aftermath of Hurricane Dorian. She aims to inspire future generations to care for wildlife and the environ ment, stemming from her experiences as an educa tor and animal trainer. She has developed far-reaching partnerships with local organisations, government officials, educators, stu dents, landowners, fishers, international groups and others to foster a shared sense of responsibility to protect the environment. “I believe that everyone can make a positive impact to create a more resil ient and healthier world,” Knowles said. “I look for ward to my new role with Disney Cruise Line and collaborating with valued partners to support the Bahamian economy and, at the same time, celebrate and protect our region’s richDCLbiodiversity.”haslongbeen com mitted to The Bahamas, including its most recent ‘Wishes Set Sail’ campaign to support youth initia tives in the cruise line’s key port communities. Since its maiden voyage in 1998, Disney has introduced countless families to the beauty and spirit of The Bahamas and has pro vided significant economic impact while demonstrat ing a strong commitment to the environment and the community. Approximately 75 percent of the cruises offered by Disney have at least one stop in The Baha mas, all five of its ships are registered in The Bahamas and it is estimated that DCL operations currently contribute more than $70 million toward the Baha mas gross domestic product annually.DCLhas committed to filling all positions on Cast away Cay with Bahamians across a range of disciplines with opportunities for training and advancement. Disney has received all the necessary approvals from the government and has begun work at Lighthouse Point, which is expected to create more than 300 construction-related roles – more than doubling the number of jobs DCL com mitted to in its Heads of Agreement.
THE TRIBUNE Thursday, August 18, 2022, PAGE 3
about greater efficiencies in the public sector. A total of $1m will be awarded to the successful candidate or candidates.Thereare numerous ways in which the government can increase efficiencies in the public sector, and $1m is “not enough” Mr Darville estimates. “Unless they are targeting something spe cific, like customer service experience then $1m won’t cut it.
Mr Symonette also said: “Finding solutions to all of these bottlenecks and chal lenges in the public sector can only be a good thing. It can only lead to more efficiency. As you know the private sector seeks to do what it does more effi ciently at a lower cost. So, if the government with the help of the private sector achieve that to an even larger degree then it would reap tremendous savings to the Bahamian people.”
Environment sign up to roles at
‘Moving services online is the right way to go’
By SAMY MAGDY AND AYA AssociatedBATRAWYPress
PAGE 4, Thursday, August 18, 2022 THE TRIBUNE
EGYPT’S central bank governor resigned Wednes day as the Middle East’s most populous nation struggles to curb inflation triggered by Russia’s war in Ukraine, high oil prices and a drop in Presidenttourism.Abdel Fattah el-Sissi accepted the res ignation of Tarek Amer and named him a presiden tial adviser, the Egyptian leader’s office said in a state ment. The brief statement offered no explanation for Amer’s resignation. No replacement was immediately named for Amer, who had been appointed governor of the central bank in November 2015. He has been criticized for his handling of Egypt’s financial challenges. The currency is under pressure, sliding in value to more than 19 Egyptian pounds to the dollar. That followed a central bank decision allowing the cur rency to depreciate by around 16% in March to try to stem a growing trade deficit.“Itseems there’s a lot of tensions within policy making circles, and I think that’s ultimately what led to Mr. Amer’s resignation,” said Jason Tuvey, a senior emerging markets econo mist at Capital Economics. Tuvey said there are officials that oppose devalu ing the pound and instead support measures like rationing gas consumption by curbing electricity usage, which could in turn harm business activity. Amer had traditionally been seen as in the camp that supported the pound’s depreciation as a way to secure a loan from the International Monetary Fund.The London-based Capi tal Economics research firm predicts that Egypt’s cur rency will continue to slide, reaching 25 pounds to the dollar by the end of 2024 amid sustained pressure. The resignation of the central bank head comes after key ministries were reshuffled Saturday as the government faces mounting pressure from economic challenges. The Cabinet shake-up, which was approved by parlia ment in an emergency session, affected 13 min istries, including health, education, culture, local development and irrigation. The country’s minister of tourism and antiquities also wasEgypt’sreplaced.expansive tourism industry, which employs mil lions, was hit hard by years of turmoil, the COVID-19 pandemic and then the war in Ukraine. Prior to the conflict, around a third of tourists to Egypt came from Russia.Russia’s war has been deeply felt in other ways in Egypt, the world’s largest wheat importer that sources around 80% of it from the Black Sea region.
One driver is already crying out as he came to the Tribune newspaper yester day to complain that drivers are not making any money and he is now headed to the Office of the Prime Minister to lay his claim for change to the industry for strug gling drivers like himself. Luther Humes, told Trib une Business yesterday that he is “desperately seeking help from Prime Minister Davis. I need a decrease in duty for bringing in cars, because we just aren’t making any money. I also want the government to increase the range we can buy older model cars. They need to take the range to at leastMr1998”.Ferguson said that he has “never heard” of Mr Humes and that Mr Humes is not a part of the union. He chastised nonunion taxi drivers about lobbying on their own behalf and making “a lot of noise” when the BTCU has always been there to help taxi drivers that are members. “They want to be relevant and they are not in the union. So that’s why they seem to want to go elsewhere to their griev ances heard because they somehow can’t approach the union because they are not a part. He continued: “But if they were a part of the union they could approach the union and have their concerns heard and we can take it from there.”
The discussions on this angle “went dead” despite the BTCU being “inun dated” with calls from elderly people who believe the BTCU is the place to bring their cars. “The union doesn’t have the resources to take their plates and manage it for them,” Mr Ferguson added. There are about 200 elderly people that could use the help from the BTCU but they cannot give any assistance. “Just like that, their money ran out because everybody who got a plate got one and went about their business,” Mr Ferguson noted. The BTCU has lost a lot of its revenue as a result of this oversaturation of taxi plates, leaving them with little room to operate plates on behalf of their elderly members and interested people in the community. “We are telling people we can’t help you anymore, and you either have to come for your taxi plate because it is basically worthless,” he said.He added: “Either come and get your taxi plate and put it under your bed until you can buy a car or leave it here with the union and see if the union could scrap up some money one of these days and put your car on theHeroad.added: “This is a big problem and the govern ment doesn’t seem very concerned about it and they are just moving on. “Yes, they gave us what we asked for but it wasn’t supposed to be in that pro portion. The industry has been oversaturated with new taxi plates. We asked the minister for 200 and she issued 600 and when September comes around, drivers are going to cry out because there is just too much on the road.”
As far as the BTCU is concerned there is “no way” they can lobby the govern ment to change the car importation policy to allow drivers to bring in 30 year old cars that may not be working. “As for the duty on cars, taxi drivers already have a duty waiver on cars every five years especially if they have a brand new car,” Mr Ferguson said.
‘Too many taxi plates will hurt elderly’ warns union chief FROM PAGE B1
The brief statement offered no reason for Amer’s resignation and no replacement was immediately named.Photo:Nariman El-Mofty/AP
EGYPT’S CENTRAL BANK GOVERNOR RESIGNS AS ECONOMIC WOES MOUNT
EGYPTIAN Central Bank Governor Tarek Amer speaks during a press conference at the Central Bank of Egypt in Cairo, Nov. 3, 2016. Amer resigned as the country has struggled to address its financial woes. According to a Wednesday, Aug. 17, 2022 statement from President Abdel Fattah el-Sissi’s office, el-Sissi accepted the resignation and named him a presidential adviser.
PEDESTRIANS walk past the New York Stock Exchange, on July 8, 2022, in New York. Stocks are opening lower on Wall Street Wednesday, Aug. 17, as traders absorb some discouraging news about how much Americans are spending. Photo:John Minchillo/AP
clothing and accessories chain Chil dren’s Place fell 11% after reporting a surprise sec ond-quarter loss as it faced supply chain problems and pressure from inflation. Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soar ing cost of energy. Inflation pressures prompted the Bank of England to boost its key interest rate by half a percentage point this month, the biggest of six consecutive increases since December.TheFederal Reserve has been raising interest rates in order to slow the econ omy and temper inflation, but investors remain con cerned that it could hit the brakes too hard and send the economy into a reces sion. The Fed in July raised its benchmark interest rate by three-quarters of a point for a second-straight time. The central bank’s min utes from last month’s meeting of policymakers didn’t offer any new insight into the Fed’s struggle to quell inflation. The min utes, released Wednesday afternoon, showed that Fed policymakers expected the economy to expand in the second half of 2022, though many suggested that growth would weaken as higher rates take hold. Slower growth, they noted, could “set the stage’’ for inflation to gradually fall to the central bank’s 2% annual goal, though it remained “far above’’ that target. But the policymak ers made clear that for now, they intend to continue raising rates enough to slow the economy.
THE TRIBUNE Thursday, August 18, 2022, PAGE 5
By DAMIAN J. TROISE AND ALEX VEIGA AP Business Writers STOCKS on Wall Street closed broadly lower Wednesday as drops by big technology companies wiped out the S&P 500’s gains for the week. The benchmark index fell 0.7%, snapping a three-day winning streak. The Dow Jones Industrial Average fell 0.5% and the tech-heavy Nasdaq slid 1.3%.Small-company stocks fell more sharply than the rest of the market, pull ing the Russell 2000 1.6% lower.Traders focused on a mix of retail updates that indicate inflation pressure continues to affect busi nesses and consumers, but also shows that spending remains strong. A govern ment report showed retail sales were flat last month, and Target shares slumped after the retail chain reported a nearly 90% skid in quarterly profits. “You saw Target coming out and being softer than we thought, so maybe it spooked investors a little bit,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “It’s a small correction from the bear market rally.” The S&P 500 slipped 31.16 points to 4,274.04. The loss pulled the index 0.1% lower so far this week. The Dow dropped 171.69 points to 33,980.32, while the Nasdaq fell 164.43 points to 12,938.12. The Russell 2000 slid 33.22 points to Trading1,987.31.hasbeen choppy throughout the week as the benchmark S&P 500 comes off a four-week winning streak.Pricey technology com panies, communication stocks and retailers had some of the biggest losses. Only energy stocks notched gains as the price of U.S. crude oil rose. Bond yields rose sig nificantly. The yield on the 10-year Treasury rose to 2.89% from 2.81% late Tuesday.Wall Street has been closely reviewing the latest economic data and corpo rate updates to get a better sense of how inflation is affecting businesses and consumers and whether the hottest inflation in 40 years is peaking or begin ning to cool. Investors are also monitoring inflation to determine how much further central banks have to go in their fight against higherSalesprices.atU.S. retailers were unchanged last month, according to the Commerce Department, and econo mists had expected a slight increase in July. Part of the weakness came from a 1.8% drop in gas sales, reflecting lower prices at the pump. Meanwhile, Target fell 2.7% after reporting a nearly 90% plunge in second quarter profits as it was forced to slash prices to clear unwanted inven tories. The retailer warned earlier this summer that it was canceling orders from suppliers and aggressively cutting prices because of a pronounced spending shift by Americans as the pan demicChildren’seased.
Stocks slip on Wall Street, erasing weekly gains for S&P 500
“Over the next sev eral years, I think we’ll continue to have some internal combustion stuff, probably through most of the decade,” said Sam Abuelsamid, a research analyst at Guidehouse Insights. “But increasingly, the focus is going to be on the electric ones.” Under new gas-mile age standards that were unveiled in April, the fleet of new vehicles will have to average around 40 miles per gallon in 2026, up from 25.4 mpg now, the EPA says. The standards are likely to become even stronger in the future, a trend that will compel U.S.-based automakers to shed some gasoline muscle cars if they are to avoid fines. Of all major automak ers, the EPA says, Stellantis had the lowest average fuel economy — 21.3 miles per gallon — and the highest average carbon dioxide emissions. So the company likely will have to eliminate some models to avoid fines. Its limited-edition Charger SRT Widebody, with a supercharged 6.2-liter Hemi Hellcat V-8, for instance, gets only 12 mpg in city driving and 21 mpg on the highway.Tomany gearheads, the thought of a muscle car without noise and smells is heresy. But Kuniskis says Dodge is working hard to make the electric experience match internal combustion. The Charger, he said, will generate its own air flow to make an exhaust noise that rivals gas performance cars. And the transmission will shift gears. Electric vehicles, he said, have the potential to per form better than gas muscle cars with fast acceleration. But he said they are kind of sterile. “It doesn’t have the emotion. It doesn’t have the drama.
THIS undated image provided by Stellantis shows the Dodge Charger Daytona SRT Concept.
GAS-POWERED MUSCLE CARS DRIVE INTO THE SUNSET, TURN ELECTRIC
Photo:AP
THUNDERING gaspowered muscle cars, for decades a fixture of Ameri can culture, will be closing in on their final Saturdaynight cruises in the coming years as automakers begin replacing them with super-fast cars that run on batteries.Stellantis’ Dodge brand, long the performance flag-bearer of the com pany formerly known as Fiat Chrysler, is officially moving toward electric ity. On Wednesday night, Dodge unveiled a batterypowered Charger Daytona SRT concept car, which is close to one that will be produced in 2024 as the sun sets on some petroleum models.Stellantis says it will stop making gasoline versions of the Dodge Challenger and Charger muscle cars and the Chrysler 300 large car by the end of next year. The Canadian factory that makes them will be con verted to electric vehicles. Other automakers are moving — or have moved — in the same direction. General Motors has said it will build an all-electric Chevrolet Corvette. Tesla says its Model S Plaid version is the fastest pro duction vehicle made, able to go from zero to 60 mph (97 kilometers per hour) in under 2 seconds. Audi, Mercedes, Por sche and other European automakers already have high-performance elec tric models on sale. And Polestar, an electric-perfor mance spinoff from Volvo, just announced a new Pole star 6 roadster for 2026. One reason for the indus try shift is that electric vehicles are simply faster off the starting line. Their han dling is typically better, too, because their heavy batter ies create a low center of gravity. Stricter government pollution requirements are another factor, too. As automakers in the U.S. face more stringent fuel-econ omy requirements adopted by the Biden administra tion and produce a broader range of EV vehicles, they will have to jettison some of their gas-fueled muscle-car models.Tim Kuniskis, CEO of the Dodge brand, said the possibly of govern ment fines for not meeting gas-mileage requirements hastened the shift to the electric Charger. “Compli ance fines and things like that associated with a big cast-iron supercharged V8, yes, it’s tough,” he said. Still, it will take a few years for the gas-powered classics to go away.
By TOM KRISHER AP Auto Writer
PAGE 6, Thursday, August 18, 2022 THE TRIBUNE
THE TRIBUNE Thursday, August 18, 2022, PAGE 7 JUDGE: PHARMACIES OWE 2 OHIO COUNTIES $650M IN OPIOIDS SUIT BY MARK
Tuesday for Chapter 11 bankruptcy protection. The company, which has its U.S. headquarters in Malvern, Pennsylvania, did not respond Wednes day to telephone and email requests for comment about the agreement. Endo produces generic opioids and name brands such as Percocet and Endocet. The company’s Opana ER opioid was withdrawn from the market in The2017.attorneys general say Endo “falsely promoted the benefits” of Opana ER’s “so-called abuse deter rent formulation.” The attorneys general said the formulation did not deter abuse of the drug and led to deadly outbreaks of hepati tis and HIV resulting from people injecting it.
CVS spokesperson Michael DeAngelis said the company strongly disagreed with the court’s decision on damages as well as the underlying verdict. CVS is based in Rhode Island, Walgreens in Illinois and Walmart in Arkansas. Two chains — Rite Aid and Giant Eagle — settled lawsuits with the counties before trial. The amounts they paid have not been dis closedMarkpublicly.Lanier, an attorney for the counties, said during the trial that the pharmacies were attempting to blame everyone but themselves. The opioid crisis has overwhelmed courts, socialservice agencies and law enforcement in Ohio’s blue-collar corner east of Cleveland, leaving behind heartbroken families and babies born to addicted mothers, Lanier told jurors. Roughly 80 million pre scription painkillers were dispensed in Trumbull County alone between 2012 and 2016 — equivalent to 400 for every resident. In Lake County, some 61 mil lion pills were distributed during that Prescriptionsperiod.for pain medications such as oxy codone and hydrocodone rose as medical groups began recognizing that patients have the right to be treated for pain, Kaspar Stoffelmayr, an attorney for Walgreens, said at the opening of the trial. The problem, he said, was that tomarketthoseexpensesandonlineopioid-relatedItingdividedforIreland-basednationwidenobillionsmentsreacheddrugmakerstiontheleadberaddiction,advocatesproof,policystatecasesPolster’slawsuitsaboutbroaderwrongpillslinemaciesmanytorsmanufacturers“pharmaceuticaltrickeddocintowritingwaytoopills.”Thecountiessaidpharshouldbethelastofdefensetopreventfromgettingintothehands.Thetrialwaspartofaconstellationof3,000federalopioidconsolidatedundersupervision.Otheraremovingaheadincourts.KevinRoy,chiefpublicofficeratShatteranorganizationthatforsolutionstosaidinNovemthattheverdictcouldpharmaciestofollowpathofmajordistribucompaniesandsomethathavenationwidesettleofopioidcasesworthofdollars.Sofar,pharmacyhasreachedasettlement.TheagreementwithEndocallsthe$450milliontobebetweenparticipatstatesandcommunities.alsocallsforEndotoputdocumentsforpublicviewingpay$2.75millionintopubliclyarchivedocuments.Endocanneveragainopioids,accordingtheagreement.Itfiled
AssociatedGILLISPIE Press A FEDERAL judge in Cleveland awarded $650 million in damages Wednes day to two Ohio counties that sued CVS, Walgreens and Walmart over the way the national pharmacy chains distributed opioids to their communities. U.S. District Judge Dan Polster said in his ruling that the money will be used to the fight the opioid crisis in Lake and Trumbull counties outside Cleveland. Attorneys for the counties put the total price tag at $3.3 billion for the damage done.The judge admonished the three companies, saying they “squandered the opportunity to pre sent a meaningful plan to abate the nuisance” after proceedings last spring to determine what the coun ties were owed. Lake County is to receive $306 million over 15 years. Trumbull County is to receive $344 million over the same period. Polster ordered the companies to immediately fork over nearly $87 million to cover the first two years of pay ments, but it was unclear whether they had to pay that money during their appeals.“Today marks the start of a new day in our fight to end the opioid epidemic,” Lake County Commis sioner John Hamercheck said in a statement. A jury in November returned a verdict in favor of the counties after a sixweek trial. It was then left to the judge to decide how much the counties should receive. He heard testi mony in May to determine damages.Thecounties convinced the jury that the pharmacies played an outsized role in creating a public nuisance in the way they dispensed pain medication. It was the first time phar macy companies completed a trial to defend themselves in a drug crisis that has killed a half-million Ameri cans since 1999. The decision on dam ages came on the same day that attorneys general from numerous states announced they had reached an agree ment with opioid maker Endo International to pay as much as $450 million over 10 years. The pay ments settle allegations the company used decep tive marketing practices “that downplayed the risk of addiction and overstated the benefits” of opioids. Attorneys for the phar macy chains insisted they had policies to stem the flow of pills when pharma cists voiced concerns and would notify authorities about suspicious orders from doctors. They also said it was doctors who controlled how many pills were prescribed for legiti mate medical needs, not pharmacies.Walmart issued a state ment Wednesday saying the counties “sued Walmart in search of deep pockets, and this judgment follows a trial that was engineered to favor the plaintiffs’ attor neys and was riddled with remarkable legal and fac tualWalgreensmistakes.” spokesper son Fraser Engerman said: “The facts and the law did not support the jury verdict last fall, and they do not support the court’s decision now.”He said the court “com mitted significant legal errors in allowing the case to go before a jury on a flawed legal theory that is inconsistent with Ohio law and compounded those errors in reaching its ruling regarding damages.”
yourSharenews The Tribune wants to hear from people who are making news in their youronantheforcause,fundsPerhapsneighbourhoods.youareraisingforagoodcampaigningimprovementsinareaorhavewonaward.Ifso,callus322-1986andsharestory.
A RIG and supply vessel are pictured in the Gulf of Mexico, off the cost of Louisiana on April 10, 2011. A judge’s order that forced the Biden administration to resume sales of oil and gas leases on federal land and waters was vacated on Wednesday, Aug. 17, 2022, by a federal appeals court in New Orleans.
PAGE 10, Thursday, August 18, 2022 THE TRIBUNE
TO
Ruling clears Biden’s 2021 pause on new oil, gas leases
By KEVIN MCGILL AND MATTHEW AssociatedBROWNPress
A JUDGE’S order that forced the Biden adminis tration to resume sales of oil and gas leases on fed eral land and waters was vacated Wednesday by a federal appeals court in New Orleans. It was at least a tempo rary victory for President Joe Biden but the immedi ate effect was unclear. The much-heralded cli mate bill that Biden signed into law Tuesday provides for new drilling opportu nities, in a compromise among Democrats, and mandates that several lease sales be held over the next year in the Gulf of Mexico andBidenAlaska.had signed an executive order that sus pended new lease sales soon after taking office in 2021. The following March, U.S. District Judge Terry Doughty in Monroe, Loui siana, blocked the policy, siding with a more than a dozen Republican-leaning states opposed to Biden’s move.The appeals court in New Orleans on Wednesday said the judge’s reasons were unclear and sent the case back to him. “We cannot reach the merits of the Government’s challenge when we cannot ascertain from the record what conduct — an unwrit ten agency policy, a written policy outside of the Execu tive Order, or the Executive Order itself — is enjoined,” Judge Patrick Higgin botham wrote for a panel that also included judges James Dennis and James Graves.Department of the Inte rior officials were reviewing the decision, spokesperson Melissa Schwartz said. She declined to say whether the climate law made the issue moot.The practical impacts of the ruling could be minor because of the fossil fuel leasing mandates in the cli mate law, said Erik Milito, president of the National Ocean Industries Associa tion, which represents oil and gas companies. The law requires the government to reinstate $192 million in leases in the Gulf of Mexico that were blocked by another court ruling last year. And it requires two more sales in the Gulf and one in Alaska before October 2023. Those sales had been canceled under Biden. The provision reviving them was inserted into the law at the insistence of West Virginia Democratic Sen. Joe Man chin, an advocate for fossil fuels.Going forward the law says Interior will hold peri odic oil and gas lease sales and offer at least 60 million acres (24 million hectares) of offshore parcels and 2 million acres (810,000 hec tares) onshore during the prior year before it can approve any renewable energy“Offshoreleases. oil and gas leasing has been protected and will proceed,” said remainedMilito.Environmentalistshopefulthat the ruling would prompt the administration to move for ward with other changes to the oil and gas leasing program, such as limits on future development includ ing where leasing occurs. “They may not be able to deliver a full moratorium on leasing, but at least they can exercise more restraint than they could with the injunction in place,” said Jeremy Nichols with the environmental group Wil dEarth Guardians. “All eyes are going to be on the Interior Department to see what their next move might be.”Following last year’s injunction from Doughty that forced lease sales to resume, the Biden adminis tration auctioned off more than 2,700 square miles (6,950 square kilometers) of leases in the Gulf of Mexico in November. The sale was later overturned by a federal judge in Wash ington D.C., who said the government had failed to adequately consider climate change impacts from burn ing oil and gas from the Gulf.In June, the administra tion sold leases on about 110 square miles (285 square kilometers) of federal land, mostly in Wyoming, despite concluding that future emissions from the parcels offered could cause billions of dollars in damages due to climate change impacts. Legal challenges of those sales by environmentalists areDoughtypending. was appointed to the federal bench by former President Donald Trump. Higginbotham was appointed to the appeals court by former President Ronald Reagan; Dennis, by former President Bill Clinton; Graves, by former President Barack Obama.
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“We are going to have difficult discussions tomor row,” Vucic said. “We do not agree almost on any thing” with Kurti and the Kosovo leadership.
EU TO HOST SERBIA-KOSOVO TALKS IN BRUSSELS AMID TENSIONS CALL 1-866-743-2257 POST cibcfcib TWEET cibc_fcib INSTAGRAM cibcfirstcaribbean CLICK cibcfcib.com The CIBC logo is a trademark of Canadian Imperial Bank of Commerce, used by FirstCaribbean International Bank under license. A note to ourPalmdaleclientsBranchClosure To Our Valued Clients: We wish to advise that effective 31 August, 2022, our Palmdale branch will close Allpermanently.transactions associated with this branch will now be facilitated at any of our other branch locations in Nassau. We thank you for making CIBC FirstCaribbean your bank of choice and look forward to serving you at our other locations. You may also continue to bank with confidence, safety, and security through our convenient suite of digital services, such as Online Banking and the Mobile App. Should you have any questions, please speak with our branch team for assistance.
THE TRIBUNE Thursday, August 18, 2022, PAGE 11
By DUSAN AssociatedSTOJANOVICPress
northern border with Serbia because of the cur rent“Buttensions.ofcourse, we will act when needed and we will act in a proportion ate way because our main aim is to help to reduce tensions and to ensure all communities to freedom of movement, to the safety of all communities, includ ing, of course, the Serbs in Kosovo,” Stoltenberg said. He urged “all parties to engage positively and constructively in the latest round of the EU talks tomorrow.”Kosovo is a former province of Serbia, which has refused to recognize the country’s 2008 decla ration of independence. The European Union has overseen years of talks to normalize their ties. Vucic said it was “a lie” that Serbia wants to inter vene in Kosovo but added that a generation of new Serb “kids” living there “do not consider Kosovo as an independent state and view it as a part of Serbia.”
WARTIME rivals Serbia and Kosovo are holding high-level crisis talks on Thursday which European Union mediators hope will de-escalate growing ten sions in the Balkans, where Russia has tried to further increase its influence amid the war in Ukraine. Hopes that the rare faceto-face meeting between Serbian President Alek sandar Vucic and Kosovo Prime Minister Albin Kurti, to be held in Brussels, could produce a major break through are slim. But Western officials overseeing the decadesold deadlock between the two neighbors hope that it would at least reduce the increasingly war-mongering rhetoric coming from both sides.“All open issues will be addressed and should be addressed through the EU-facilitated dialogue,” European Commission spokesperson for foreign affairs Nabila Massrali told reporters. “Both parties must end their hos tilities at this point” and “act theirKosovoledWednesday,andwhoeralNATOresponsibly.”Secretary-GenJensStoltenberg,separatelymetVucicKurtiinBrusselsonsaidNATO-troopsstationedinhavestrengthenedpresenceonKosovo’s
Lucy (Liquidator)Dalrymple-Smith
NOTICE is hereby given that in accordance with the provisions of Section 138 (8) of The International Business Companies Act, 2000, of the Commonwealth of The Bahamas, the dissolution of REFINERY HOLDINGS LTD. has been completed; a Certificate of Dissolution has been issued by the Acting Assistant Registrar General and the Company has been struck from the Register of Companies on the 20th day of April, 2022.
LEGAL HOLDINGSREFINERYNOTICELTD.
NOTICE
NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that Malfoy Management Ltd. is in voluntary liquidation. The voluntary liquidation commenced on 18th July 2022 and Jacqueline Elsener of c/o HBM Kerdos AG, Jenatschstrasse 1, CH 8027, Zurich been appointed as the Sole Liquidator. Dated this 20th day of July 2022 Sgd. Jacqueline Elsener Voluntary Liquidator
PAGE 12, Thursday, August 18, 2022 THE TRIBUNE WEDNESDAY, 17 AUGUST 2022 CLOSECHANGE%CHANGEYTDYTD% BISX ALL SHARE INDEX: 2583.030.190.01354.7915.92 BISX LISTED & TRADED SECURITIES 52WK HI52WK LOWSECURITY SYMBOLLAST CLOSECLOSECHANGE VOLUMEEPS$DIV$P/E YIELD 6.985.30 AML Foods Limited AML 6.98 6.980.00 0.2390.17029.22.44% 53.0033.80 APD Limited APD 39.95 39.950.00 500.9321.26042.93.15% 2.761.60Benchmark BBL 2.71 2.760.05 1,0000.0000.020N/M0.72% 2.612.20Bahamas First Holdings Limited BFH 2.46 2.460.00 0.1400.08017.63.25% 2.601.30Bank of Bahamas BOB 2.51 2.510.00 0.0700.000N/M0.00% 6.205.75Bahamas Property Fund BPF 6.20 6.200.00 1.7600.000N/M0.00% 10.057.50Bahamas Waste BWL 9.75 9.750.00 0.3690.26026.42.67% 4.152.82Cable Bahamas CAB 3.91 3.910.00 -0.4380.000-8.9 0.00% 10.655.40Commonwealth Brewery CBB 10.15 10.150.00 1,0000.1400.00072.50.00% 3.652.27Commonwealth Bank CBL 3.25 3.250.00 0.1840.12017.73.69% 8.255.95Colina Holdings CHL 8.16 8.160.00 0.4490.22018.22.70% 17.509.80CIBC FirstCaribbean Bank CIB 16.00 16.000.00 0.7220.72022.24.50% 2.651.99Consolidated Water BDRs CWCB 3.13 3.180.05 0.1020.43431.213.65% 11.288.25Doctor's Hospital DHS 10.26 10.260.00 0.4670.06022.00.58% 11.2510.02Emera Incorporated EMAB 11.79 11.830.04 0.6460.32818.32.77% 10.8510.00Famguard FAM 10.85 10.850.00 0.7280.24014.92.21% 18.3014.05Fidelity Bank (Bahamas) Limited FBB 18.30 18.300.00 0.8160.54022.42.95% 4.003.50Focol FCL 3.90 3.900.00 0.2030.12019.23.08% 11.008.20Finco FIN 11.00 11.000.00 0.9390.20011.71.82% 16.5015.50J. S. Johnson JSJ 15.50 15.500.00 0.6310.61024.63.94% PREFERENCE SHARES 1.001.00Bahamas First Holdings PreferenceBFHP 1.00 1.000.00 0.0000.0000.0000.00% 1000.001000.00 Cable Bahamas Series 6 CAB6 1000.001000.000.00 0.0000.0000.0000.00% 1000.001000.00 Cable Bahamas Series 9 CAB9 1000.001000.000.00 0.0000.0000.0000.00% 1.001.00Colina Holdings Class A CHLA 1.00 1.000.00 0.0000.0000.0006.25% 10.0010.00Fidelity Bank Bahamas Class A FBBA 10.0010.000.00 0.0000.0000.0007.00% 1.001.00Focol Class B FCLB 1.00 1.000.00 0.0000.0000.0006.50% CORPORATE DEBT - (percentage pricing) 52WK HI52WK LOWSECURITY SYMBOLLAST SALECLOSECHANGEVOLUME 100.00100.00Fidelity Bank (Note 22 Series B+)FBB22 100.00100.000.00 100.00100.00Bahamas First Holdings LimitedBFHB 100.00100.000.00 BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92104.79Bahamas Note 6.95 (2029) BAH29 107.31107.310.00 100.00100.00BGS: 2014-12-7Y BG0107 100.00100.000.00 100.00100.00BGS: 2015-1-7Y BG0207 100.00100.000.00 100.00100.00BGS: 2014-12-30Y BG0130 100.00100.000.00 100.00100.00BGS: 2015-1-30Y BG0230 100.00100.000.00 100.00100.00BGS: 2015-6-7Y BG0307 100.00100.000.00 100.00100.00BGS: 2015-6-30Y BG0330 100.00100.000.00 100.00100.00BGS: 2015-10-7Y BG0407 100.00100.000.00 101.5599.72BGRS FX BGR124228 BSBGR1242282101.55101.550.00 100.2299.98BGRS FL BGRS99032 BSBGRS990326100.50100.500.00 100.4399.96BGRS FL BGRS97033 BSBGRS970336100.09100.090.00 100.43100.43BGRS FL BGRS75022 BSBGRS750225100.54100.540.00 100.34100.04BGRS FL BGRS81037 BSBGRS810375100.34100.340.00 100.23100.00BGRS FL BGRS88028 BSBGRS880287100.00100.000.00 100.0089.62BGRS FX BGR129249 BSBGR129249389.6289.620.00 100.0089.00BGRS FX BGR131249 BSBGR1312499100.00100.000.00 100.9890.24BGRS FX BGR132249 BSBGR1322498100.00100.000.00 100.0090.73BGRS FX BGR136150 BSBGR1361504100.00100.000.00 MUTUAL FUNDS 52WK HI52WK LOW NAV YTD%12 MTH% 2.522.11 2.520.99%4.22% 4.693.30 4.690.36%5.78% 2.221.68 2.210.67%2.74% 207.86164.74 197.44-2.97%-2.35% 212.41116.70 202.39-4.72%6.04% 1.741.69 1.741.37%3.03% 1.841.75 1.841.19%5.23% 1.831.76 1.831.62%4.13% 1.030.97 0.97-5.25%-6.07% 9.376.41 9.37-0.02%10.36% 11.837.62 11.79-0.33%18.23% 7.545.66 7.540.22%3.05% 16.648.65 15.94-3.89%14.76% 12.8410.54 12.47-1.04%-2.57% 10.779.57 10.740.81%4.20% 10.009.88 N/AN/AN/A 10.438.45 10.433.00%25.60% 14.8911.20 14.897.90%48.70% MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 YIELD - last 12 month dividends divided by closing price 52wk-Hi - Highest closing price in last 52 weeks Bid $ - Buying price of Colina and Fidelity 52wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling price of Colina and fidelity Previous Close - Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior week Change - Change in closing price from day to day EPS $ - A company's reported earnings per share for the last 12 mths Daily Vol. - Number of total shares traded today NAV - Net Asset Value DIV $ - Dividends per share paid in the last 12 months N/M - Not Meaningful P/E - Closing price divided by the last 12 month earnings TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333 5.55%4.33%4.31%4.30% 15-Apr-204926-Jul-202817-Apr-203323-Sep-20324.87%4.43% 26-Jul-20377-Sep-2022 6.25% 31-Mar-202230-Sep-2025FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund 4.25%6.25%4.50%6.25% NAV Date 4.66%5.69%5.65% 31-May-202231-May-202231-Jan-202231-Jan-202231-Jan-202231-Jan-202231-May-202231-Jan-202231-Jan-202231-Mar-202115-Oct-204913-Jul-202821-Apr-205025-Mar-202215-Oct-202226-Jun-204526-Jun-202230-Jul-204515-Dec-204430-Jul-202215-Dec-2021 INTEREST Prime + 1.75% MARKET REPORT 31-Mar-202131-Mar-2021 MATURITY 31-Mar-202231-Mar-202220-Nov-202919-Oct-20224.50%6.95% 31-May-202231-Mar-2022 5.60%6.25%4.50% 15-Jul-2049 Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund (242)323 2330 (242) 323 2320 www.bisxbahamas.com NOTICE is hereby given that ADLINE CALIXTE of Pinedale Road off Wulff Road, 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 and signed statement of the facts within twenty-eight days from the 11th day of August, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that SOVIANE CHARLES of #14 Raspberry Court, Fox Hill, 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 and signed statement of the facts within twenty-eight days from the 18th day of August, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that WADNY TILME of P. O. Box SB-52580, Smith-Ville, Clayton Close, Fo Hill Road, 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 and signed statement of the facts within twenty-eight days from the 18th day of August, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE LEGAL NOTICE Malfoy Management Ltd. Company No. 1897100 (In Voluntary Liquidation)
AssociatedDALLAS Press THE federal government is suing SkyWest Airlines on behalf of a former employee who says co-workers sexu ally harassed her, including asking her for sex and making explicit comments about rape in her presence. The U.S. Equal Employ ment Opportunity Commission said in a law suit filed Wednesday that SkyWest discriminated against the woman by sub jecting her to a hostile work environment and retaliating when she complained. She eventuallySkyWestquit.said it holds employees to high standards.
US SAYS SKYWEST EMPLOYEE SUBJECTED TO SEXUAL HARASSMENT CALL 502-2394 TO ADVERTISE IN THE TRIBUNE TODAY!
THE TRIBUNE Thursday, August 18, 2022, PAGE 15
"While it is our policy to not comment on pending litigation, we have zero tol erance for discrimination or harassment of any kind and have established processes in place to follow up on any reported concerns," the air line said in a statement. The EEOC sued in fed eral district court in Dallas and asked that the woman receive back pay and punitive damages to be determined by a trial. The agency said the woman joined Utah-based SkyWest in 2007, and the harassment started after she transferred to the air line's parts and maintenance operation at Dallas-Fort Worth International Airport in 2019, including com ments by the maintenance supervisor. She told another supervisor that she "felt singled out as ... a young woman in a building full of men."The harassment caused the woman to take unpaid medical leave for about six weeks, and it contin ued when she returned. She was placed on admin istrative leave after filing a complaint with the airline's human-resources depart ment, according to the lawsuit.Some of the woman's co-workers corroborated her claims during an inter nal investigation, and an employee-relations manager recommended sexual-harassmentmandatorytraining for all employees, the EEOC said. Five months later, in May 2020, after getting no update on the investigation, the woman resigned.SkyWest is a regional air line that operates flights for bigger carriers including American Airlines.
Newest meme stock, Bed Bath & Beyond, tumbles
Cohen nor Bed Bath & Beyond could be reached immediately for comment. after big
NEW AssociatedYORK Press NOW comes the down side of the meme-stock craze for investors in Bed Bath & Beyond. The stock fell 16% in after-hours trading Wednes day following reports that a big-name investor with a cult-like following may sell his stake in the strug gling retailer. It's a sudden turnaround for a stock that had just quadrupled in a little more than two weeks, in part on hopes that the investment by Ryan Cohen could help Bed Bath & Beyond turn around its finances.Cohen's notice of pro posed sale came to U.S. regulators in a paper form submitted over email, and it said the RC Ventures investment firm may sell up to nearly 7.8 million shares of Bed Bath & Beyond, along with options related to the stock, beginning Tuesday. Cohen had built up his stake early this year intoBeyondMarch.the quick rever sal in after-hours trading, the notice also triggered howls across the internet, where growing masses of smaller-pocketed and ama teur investors have banded together to push Bed Bath & Beyond's stock "to the moon""BBBY is over," one commenter said on Reddit's WallStreetBets forum, a hub for some of the dis cussion about Bed Bath & Beyond, whose ticker symbol is BBBY. "This was the killing blow." Others were vowing to hold on, or HODL, in the parlance of our times. It's just the latest mania cal set of moves for Bed Bath & Beyond, which soared another 11.8% during the regular trad ing session Wednesday on huge trading volume. For a while on Wednesday, it was on pace to close a fourth straight day with a gain of more than 20%. The inexplicable recent rise — a hallmark of so-called meme stocks — comes as Bed Bath & Beyond continues to lose money on plummeting sales as it struggles to navigate the post-pandemic retail landscape.BedBath & Beyond fired CEO Mark Tritton in June after the company based in Union, New Jersey, reported a 25% drop-off in sales in its most recent quarter, which followed a 22% sales decline the previ ous quarter. Tritton, who as CEO of Target revitalized that retailer by introducing a bevy of new brands, laid out a similar plan for Bed Bath & Beyond in 2021, but with far less success. It's hard to pinpoint why anyone would pour money into a company that's flashing as many warn ing signs as Bed Beth & Beyond, but it echoes the 2021 trend where small investors banded together in online forums to stoke a frenzy over certain strug gling companies, like GameStop, AMC and Bed Bath & Beyond. Bed Bath & Beyond shares also skyrocketed in March when the invest ment firm of billionaire Cohen took a 10% stake in the company and recom mended that it sell all or part of its business. Cohen, a co-founder at Chewy, was at the heart of the GameStop meme saga last year after he took a stake in the struggling video-game retailer.Cohen built a huge fol lowing on Reddit and on social media in 2021 as smaller investors gobbled up meme stocks. One thread on Wall StreetBets posted before Cohen's notice to sell became public blared "BED BATH AND BELIEVE," as chatter across the forum focused on how regular people work ing together can face down professional hedge funds who bet on the stock's price to Neitherfall.
day
PAGE 16, Thursday, August 18, 2022 THE TRIBUNE
