business@tribunemedia.net
MONDAY, SEPTEMBER 9TH, 2019
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Royal Caribbean bring aid to Grand Bahama
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Chamber chair: Abaco will ‘bounce back’
By CARA HUNT Tribune Staff Reporter cbrennen@tribunemedia.net
KEN HUTTON
S
ENIOR executives of Royal Caribbean Cruises Ltd arrived on Grand Bahama at the weekend to personally oversee the company’s relief efforts in the aftermath of Hurricane Dorian. “We can’t make every bad memory of Dorian go away. But we can start making things better—today,” said Richard Fain, chairman and CEO of Royal Caribbean Cruises Ltd. He was accompanied on the trip by international president and CEO Michael Bailey as well as volunteers from their Florida corporate offices. In addition to meeting with Bahamian government officals, the executives joined the company’s 200plus volunteers who were already on the ground distributing thousands of meals and supplies to residents left devastated by the category five storm. The company has
A MARINA on Treasure Cay, Abaco, before Hurricane Dorian. By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
VOLUNTEERS from Royal Caribbean’s South Florida offices boarded Navigator of the Seas this week to assist with hurricane relief. Known as “Go Team” the group is assisting unload relief supplies and evacuee efforts. provided more than 20,000 distribution centres and food and much-needed daily meals in the immedi- kitchens on Grand Bahama. supplies including 47,000 ate aftermath of the storm. To date, the company has bottles of water, 362 genMeals included sandwiches, utilised its Empress of the erators, 250 tarps, 25,000 proteins with rice and fruits Seas, Symphony of the Seas, square feet of plywood, 55,400 diapers and 7,500 and snacks. Celebrity Equinox, Mariner pounds of pet food. While in The Bahamas, Mr Fain and Mr Bailey also of the Seas and Navigator SEE PAGE 2 discussed plans for building of the Seas vessels to bring
Colonial Group: We’ll do our part THE Colonial Group has pledged to support hurricane victims in The Bahamas following the impact of Hurricane Dorian on Abaco and Grand Bahama. In a statement on Friday, the insurer and pensions provider said it has been “closely monitoring the impact” and “positioning staff and resources to help people in need”. “The hurricane is clearly a massive catastrophe for The Bahamas, particularly for the residents of Grand Bahama and the Abaco Islands, which were
subjected to the worst of Dorian’s fierce power. “Our first concern is for the safety and needs of residents and their families as they begin working to put their lives and that of their communities back together. Immediate relief has been sent via boat to our Freeport-based staff to help their personal recovery and the setting up of our operations.” The group’s Bahamasbased companies – Atlantic
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Contractors offer employment assistance for Dorian victims By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net THE Bahamian Con tractors Association (BCA) is looking to assist people impacted by Hurricane Dorian by securing employment among its membership. Michael Pratt, the BCA president told Tribune Business: “We are looking at an initiative where we will list some potential contractors who may be able to hire some of the unemployed persons coming in to Nassau. We are trying to become a conduit to assist these persons. We want
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to assist them with getting back on their feet and being able to make some money for themselves. Whatever it takes to reduce the suffering these persons are going through and buffer the impact of the economic loss we will try and step in to see if we can assist.” Mr Pratt noted the BCA is also launching a tool drive initiative to help in the restoration effort. “The BCA is reaching out to its members and allied members to supply tools and building supplies to assist with the immediate repairs to decimated areas.
SEE PAGE 2
ABACO’S economy will “bounce back” from the ravages of Hurricane Dorian the island’s Chamber of Commerce president said yesterday, telling Tribune Business: “Everything is completely flattened”. Ken Hutton, told Tribune Business that he like many Abaco residents had to evacuate to New Providence having lost his home and businesses in the Category 5 storm. “There is nothing else. Everything is completely flattened,” said Hutton. He continued: “In the business community I don’t think anyone fared well. This was Hurricane Katrina on steroids. It was
unprecedented. Everything is gone. There are no businesses, there are no banks, everything is just gone. The only thing left standing right now with any semblance is Maxwell’s the big food store; that fared very well in the storm and has been turned into a command post.” Still, Hutton said he remains optimistic over the island’s future. “I’m the eternal optimist. I absolutely believe Abaco will come back. It’s not just Abaco but the whole international community is behind Abaco. It’s going to take time. There are some priorities, things that have to be done first but once we get the primary things done and complete then I think you are going to see Abaco come out of the gate very strongly,” said Hutton.
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ROYAL CARIBBEAN BRING AID TO GRAND BAHAMA FROM PAGE ONE
Royal Caribbean has also committed to donating $1m to Dorian disaster relief and matching every dollar of guest and employee donations. Additionally, ITM, the company’s partner in the Holistica joint venture developing the Grand Lucayan resort in Freeport, is also donating an additional $100,000. To make sure those donations go where they can do the most good, they are collaborating with the Bahamian government and
RICHARD FAIN, Royal Caribbean Cruises, Chairman and CEO and Royal Caribbean International President and CEO Michael Bayley meet with Bahamian officials and its charity partners on the ground to discuss plans on building out distribution centers and kitchens to continue the food relief effort in Grand Bahama in the aftermath of Hurricane Dorian.
HIGHLIGHTS OF ROYAL CARIBBEAN’S SUPPORT IN GRAND BAHAMA
its non-profit partner, the Pan American Development Foundation (PADF), and a network of Bahamian charities and other local organisations, including the Bahamas Feeding Network, the company stated. Additionally, Royal
Carribean worked with Bahamian officials to transport evacuees from Grand Bahama to Nassau. Royal Caribbean employs more than 500 employees at Perfect Day at CocoCay and the Grand Bahama Shipyard.
Contractors offer employment assistance for Dorian victims FROM PAGE ONE We are trying to get small tools and generators to get to them. Even though there is assistance coming from other agencies they can get the right things they need to help themselves,” said Pratt.
“In our rebuild we have to build better infrastructure and homes. We need to now look at building climate smart homes. This rebuild effort is going to be extensive. I can’t say how long it will be but it will be lengthy.”
Colonial Group: We’ll do our part FROM PAGE ONE Medical Insurance, Security and General Insurance and Nassau Insurance Brokers and Agents (NIBA) have set up temporary accommodation in Pelican Bay Hotel, Freeport, to start to receive claims, and loss adjustors are on the ground dealing with clients. The statement continued: “Additional resources and supplies are being mobilised
including nurses and staff from both Nassau and head office in Bermuda to provide support and distribute relief supplies, including critical medical supplies and care packages to our insureds.” The company said it would continue to send resources and manpower to where it is needed most, adding: “Colonial Group will do its part to help The Bahamas get back on its feet.”
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Monday, September 9, 2019, PAGE 3
Brexit crisis grows as opposition rejects snap election call LONDON Associated Press BRITAIN’S bedeviling Brexit dilemma intensified on Friday, as opposition parties refused to support Prime Minister Boris Johnson’s call for an election until he secures a delay to Britain’s exit from the European Union — something he vows he’ll never do. Johnson insists Britain must leave the EU in 55 days, and says an election is the only way to break the deadlock that has seen lawmakers repeatedly reject the divorce deal on offer, but also block attempts to leave the EU without one. He wants to go to the public on Oct 15, two weeks before the scheduled Brexit day of Oct 31, but needs the support of two-thirds of lawmakers to trigger a snap election. Johnson lost a vote on the same question this week, but he plans to try again today. After discussions on Friday, lawmakers from several opposition parties said they would not back an election unless the government asked the EU to postpone Brexit, removing the risk the UK could crash out without a deal. Johnson says he would “rather be dead in a ditch” than delay Brexit. Parliament is trying to force his hand, passing an opposition-backed law that would compel Johnson’s Conservative government to seek a three-month Brexit postponement if no divorce deal is agreed by Oct 19. The legislation was approved on Friday by the unelected House of Lords, after gaining backing from the elected House of Commons earlier this week. It
month, come what may, is facing opposition in the courts as well as in Parliament. Most economists say a no-deal Brexit would cause severe economic
BRITISH PRIME MINISTER BORIS JOHNSON will become law within days once it gets the formality of royal assent. But pro-EU lawmakers want to hold off on triggering an election until the Brexit delay has actually been secured, fearing Johnson will try to wriggle out of the commitment. “I do not trust the prime minister to do his duty,” said Liz Saville Roberts, leader in Parliament of the Welsh party Plaid Cymru. She said lawmakers needed to be sitting in Parliament in late October, rather than on the election campaign trail, to ensure Britain does not crash out of the EU. That makes an election before November unlikely. “We need to make sure that we get past the 31st of October,” she said. Blocking an election is a risky strategy for the opposition, which could be accused of denying the public its say. The Conservative Party on Friday tweeted a mocked-up image of Labour Party leader Jeremy Corbyn in a chicken suit, and Johnson said he had “never known an opposition in the history of democracy that’s refused to have an election”. “I think obviously they don’t trust the people, they don’t think that the people
will vote for them, so they’re refusing to have an election,” he said. Scottish National Party leader Nicola Sturgeon tweeted: “An early general election is now a question of ‘when’ not ‘if’ — but Johnson mustn’t be allowed to dictate the timing as a device to avoid scrutiny and force through a ‘no deal’ Brexit.” Johnson’s options are unclear if he loses Monday’s vote. He could call a noconfidence vote in his own government, which would only need a simple majority to pass. He could try to change the law that governs how elections can be triggered. He could even resign. In short, it’s a complicated mess. Johnson became prime minister in July after promising Conservatives that he would complete Brexit and break the impasse that has paralysed Britain’s politics since voters decided in June 2016 to leave the bloc and which brought down his predecessor, Theresa May. After only six weeks in office, however, his plans are in crisis. The EU refuses to renegotiate the deal it struck with May, which has been rejected three times by Britain’s Parliament. Johnson’s push to leave the EU at the end of next
disruption and plunge the UK into recession. Johnson enraged his opponents by announcing he would suspend Parliament at some point next
week until Oct 14, leaving just over two weeks to the deadline. Critics accused him of subverting democracy and carrying out a “coup”.
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As feds loom, states hit Facebook, Google with new probes WASHINGTON Associated Press TWO groups of states are targeting Facebook and Google in separate antitrust probes, widening the scrutiny of Big Tech beyond sweeping federal and congressional investigations into their market dominance. Facebook and Google are two of the world’s largest and most ubiquitous tech companies. The billions who use their services for making social media posts, uploading videos or searching ads are targeted by the tech companies for their personal data — a prized asset that enhances the companies’ power. Regulators are examining whether the companies have used their market power to crimp competition, potentially raising prices and hurting consumers. Dissatisfaction with what federal authorities have done so far may be pushing some states to band together to run their own investigations, possibly eyeing more aggressive sanctions. The Federal Trade Commission’s recent $5bn fine against Facebook over privacy violations, for example, was criticised by consumer advocates and a number of public officials as being too lenient. “The states see it as part of their role to fill a vacuum,” said Jay Himes, an antitrust lawyer in New York. Himes, a former head of the antitrust bureau in the New York attorney general’s office, worked on the states’ antitrust case against Microsoft about 20 years ago. New York Attorney General Letitia James said Friday her probe will look into Facebook’s dominance and any resulting anticompetitive conduct. A separate group of state attorneys general is announcing today in Washington the launch of an investigation into “whether large tech companies have engaged in anticompetitive behavior that stifled competition, restricted access and harmed consumers,”
Monday, September 9, 2019, PAGE 5
NEW York Attorney General Letitia James an advisory from Texas Attorney General Ken Paxton said on Friday. The Washington Post and The Wall Street Journal, citing sources they didn’t identify, have reported that target will be Google. Both groups of state attorneys general include Democrats and Republicans. Joining James, a Democrat, in the Facebook investigation are the attorneys general of Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee and the District of Columbia. With some 2.4 billion users around the globe and a huge social media presence, Facebook has sparked outrage with a series of privacy scandals and its use by Russian operatives in the 2016 presidential campaign. “Even the largest social media platform in the world must follow the law and respect consumers,” James said. Critics worry that Facebook can squash competitors either by buying them or using its enormous resources to mimic services they offer. That ultimately could reduce viable alternatives for consumers looking, for instance, for comparable services that do less tracking for targeted advertising. Businesses, including mom and pop shops, might have to pay more for ads if they have fewer choices to reach consumers online. The US Justice Department opened a sweeping antitrust investigation of big tech companies this summer, looking at whether their online platforms have hurt competition, suppressed innovation or otherwise harmed consumers. The Federal Trade Commission has been conducting its own competition probe of Big Tech, as has the House Judiciary subcommittee on antitrust. The lawmaker leading that investigation, Rep David Cicilline, D-RI, said Friday the states’ probe of Facebook is “completely appropriate”. “Facebook has proven time and time again that it cannot be trusted to regulate itself,” Cicilline said. The states have the power to make big changes to the tech industry — especially
if enough of them band together, said Matt Stoller, a fellow at the Open Markets Institute, a group that advocates for the breakup of corporate monopolies. Though states have limited jurisdictions, he said, once a few of the bigger states get involved, changes can come that can affect most of the country. “You really have to break their power, and I think the states are more likely to do that than anyone else,” Stoller said in an interview. Facebook said it plans to “work constructively” with the state attorneys general and welcomes a conversation with policymakers about competition. “People have multiple choices for every one of the services we provide,” said Will Castleberry, a vice president of state and local policy. “We understand that if we stop innovating, people can easily leave our platform. This underscores the competition we face, not only in the US but around the globe.” Google said it welcomes government oversight to make sure companies comply with the law. The company said it has already responded to many government agencies around the world on how it conducts its businesses and expects state attorneys general to ask similar questions. “We look forward to showing how we are investing in innovation, providing services that people want, and engaging in robust and fair competition,” Kent Walker, a senior vice president for global affairs, said in a blog post. Big Tech won’t be an easy target. Current interpretations of US law against monopolies don’t obviously apply to companies offering inexpensive goods or free online services. Traditional antitrust law focuses on dominant businesses that harm consumers, typically through practices that raise prices for consumers. But many tech companies offer free products that are paid for by a largely invisible trade in the personal data gleaned from those services. Others like Amazon offer consistently low prices on a wide array of merchandise.
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Monday, September 9, 2019, PAGE 7
Ex-UK minister says Johnson not trying to get a Brexit deal LONDON Associated Press A SENIOR minister who quit British Prime Minister Boris Johnson’s Cabinet said yesterday that the government is making little or no effort to secure a Brexit agreement with the European Union, despite Johnson’s insistence that he wants a deal. Amber Rudd said “there is no evidence of a deal. There are no formal negotiations taking place.” “What we know is that Angela Merkel and the EU have said, ‘give us your proposal,’ and we have not given them a proposal,” she told the BBC. Treasury chief Sajid Javid insisted that the government was “straining every sinew to get a deal” and had sent British negotiator David Frost to Brussels for talks. The EU, however, says Britain has not produced any concrete new ideas. Rudd’s resignation as work and pensions secretary late Saturday is the latest blow to the embattled British prime minister. Johnson says Britain must leave the EU as scheduled Oct 31 even if there is no divorce agreement with the bloc. But his plan is meeting fierce resistance, including from some members of his own party. Last week Johnson kicked 21 lawmakers out of the Conservative group in Parliament after they sided with the opposition to pass a law designed to
WORK and Pensions Secretary Amber Rudd in London. On Saturday, Sept 7, 2019, Rudd said she has resigned from Prime Minister Boris Johnson’s cabinet because “I cannot stand by as good, loyal moderate Conservatives are expelled”. PHOTO: Victoria Jones/AP prevent a no-deal Brexit. Those expelled included the longest-serving Conservative in Parliament, Ken Clarke, and Nicholas Soames, grandson of World War II Prime Minister Winston Churchill. Rudd called the expulsions “an assault on decency and democracy”. “The Conservative Party should be a moderate party that embraces people with different views of the EU,” she said. “If we become a party which has no place for moderates like I am, centerright conservatives, then we will not win.” Johnson is seeking a snap election on Oct 15 as a way to break the deadlock over Brexit, but lawmakers last week rejected his call for an early poll. He is due to try again today, but opposition parties say they will veto that attempt, too. They want to
LEAGL NOTICE
NOTICE PAMPANA INVEST LTD. NOTICE is hereby given as follows: (a)
Pampana Invest Ltd. is in Voluntary Dissolution under the provisions of Section 138(4) of the International Business Companies Act 2000.
(b)
The Dissolution of the said Company commenced when the Articles of Dissolution were submitted to and registered by the Registrar General of the Commonwealth of The Bahamas.
(c)
The Liquidator of the said Company is Beatus Limited, P.O. Box N7776-348, N.P., Bahamas.
Dated 5th day of September, 2019.
Beatus Limited Liquidator LEGAL NOTICE
Ingersoll Associates Ltd. NOTICE is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, 2000, of the Commonwealth of the Bahamas, the dissolution of Ingersoll Associates Ltd. has been completed; a Certificate of Dissolution has been issued and the Company has been struck off the Register. Dated this 4th day of September 2019
______________________ Liquidator Carmen Reimann LEGAL NOTICE International Business Companies Act (No.45 of 2000) AMG Investment Fund Ltd. (the “Company”) Notice is hereby given that,in accordance with Section 138(8) of the International Business Companies Act, No.45 of 2000, the Dissolution of AMG Investment Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the3rdday of September, 2019.
Gustavo Dos Santos Vaz Liquidator
postpone an election until Britain has secured a delay to the Oct 31 Brexit deadline, removing the risk the UK could crash out without a deal. Opposition Labour Party finance spokesman John McDonnell said “we’re in a situation where no-one can trust while (Johnson) is in place what could happen.” “We don’t believe that we can pin him down and I don’t trust him an inch, and I don’t think anyone does,” McDonnell told the BBC. Most economists say a no-deal Brexit would severely disrupt trade with the EU and plunge the UK into recession. Johnson said this week
he would rather be “dead in a ditch” than seek a postponement, leaving government and Parliament at odds — with no obvious solution. Johnson’s options — all of them extreme — include disobeying the law, which could land him in court or even prison, and resigning. Foreign Secretary Dominic Raab said Sunday that the government would obey the law, but would also “test very carefully what it does and doesn’t require”. “It’s been a rough week, but the reality is the prime minister is sticking to his guns on what he said to get us out of this rut that we’re in,” he said.
LEGAL NOTICE
NOTICE NINE BRIDGES LIMITED ___________________________________ Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 28th day of August, 2019.
Delano Aranha Liquidator of NINE BRIDGES LIMITED
CHINA’S TRADE WITH US SHRINKS AS TARIFF WAR WORSENS BEIJING Associated Press CHINA’S trade with the United States is falling as the two sides prepare for negotiations with no signs of progress toward ending a tariff war that threatens global economic growth. Imports of American goods tumbled 22% in August from a year earlier to $10.3bn, customs data showed Sunday. Exports to the United States, China’s biggest market, sank 16% to $44.4bn. Both sides have raised tariffs on billions of dollars of each other’s imports in the fight over complaints about Beijing’s trade surplus and technology development plans. The United States, Europe, Japan and other trading partners say those violate Chinese market-opening commitments. US and Chinese negotiators are preparing for talks in October. Despite that, the two governments escalated their fight on Sept 1, imposing or increasing penalties on billions of dollars of goods. President Donald Trump plans another increase Oct 15. Chinese exporters also face pressure from weakening global consumer demand. That hurts efforts to find markets to replace the United States. “The tit-for-tat escalation shows how unlikely a trade deal and de-escalation have become,” said Louis Kuijs
of Oxford Economics in a report. “Meanwhile, the global trade weakness looks set to linger, which will continue to weigh on demand for China’s exports.” The conflict has disrupted trade in goods from soybeans to medical equipment, battered traders on both sides and fueled fears in financial markets of a global economic slowdown. China’s politically sensitive trade surplus with the US narrowed to $31.3bn in August from $27bn a year earlier. China’s global exports fell 3% to $214.8bn, while imports were up 1.7% at $180bn. For the first eight months of 2019, exports were off 1% from a year earlier and imports were down 5.6%. China’s global trade surplus rose 25% from a year earlier to $34.8bn. Exports to the European Union rose 3% from a year earlier to $38.3bn. US-Chinese negotiations broke down in May over how to enforce any agreement. Beijing says Trump’s punitive tariffs must be lifted once an agreement takes effect. Washington says some must stay to ensure Beijing carries out any promises it makes. Trump and Chinese President Xi Jinping agreed in June to resume negotiations, though neither side shifted its position. Talks in Shanghai in July ended with no indication of progress.
LEGAL NOTICE
NOTICE QUARTZ PTC LTD. (In Voluntary Liquidation) Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 13th day of August, 2019. The Liquidator is Galnom Ltd., CUB Financial Center, Western Road, Nassau, Bahamas
GALNOM LTD. Liquidator
PAGE 8, Monday, September 9, 2019
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HOUSE JUDICIARY PREPARING VOTE ON IMPEACHMENT HEARING RULES WASHINGTON Associated Press THE House Judiciary Committee is escalating its impeachment investigation into President Donald Trump, preparing a vote as soon as next Wednesday to establish procedures for hearings the panel hopes to hold this fall. The details are still being negotiated, but a procedural vote next week could set rules for the hearings, according to a person familiar with the plan. The person requested anonymity because the resolution is still being worked out and the person wasn’t authorised to discuss it. The rules could include allowing staff to question witnesses; allowing some evidence to be presented in closed sessions to protect sensitive materials; and allowing the president’s counsel to respond in writing to evidence and testimony, among other guidelines. The vote would be similar to procedural votes taken at the beginning of the impeachment investigations of Presidents
HOUSE Judiciary Committee Chairman Jerrold Nadler, D-NY. While more than 130 House Democrats - more than half of the caucus - have come out in favour of an impeachment inquiry into President Donald Trump, according to a tally by The Associated Press, those numbers don’t reflect the whole story. The number of Democrats who would actually vote to recommend articles of impeachment, at this point, is significantly smaller. Richard Nixon and Bill Clinton, according to the person. Tentative details of the resolution were discussed on a call with members of the committee Friday as they prepare to return to Washington next week after a six-week recess. House Judiciary Committee
Chairman Jerrold Nadler said just before the recess that the committee is already in an impeachment investigation as it has called multiple witnesses related to former special counsel Robert Mueller’s report and sued the White House for blocking testimony. The vote would make
clear that the committee is indeed serious about moving forward with an impeachment probe, even as House Speaker Nancy Pelosi has urged caution to members, saying earlier this month that the public still isn’t there on impeachment. But it would only be a technical step, and the
committee would still have to introduce articles of impeachment and vote on them before the full House would be able to consider approving charges against Trump. And even then, the Republican-led Senate would almost certainly not vote to convict him and remove him from office. Many moderates in the caucus, who helped win the Democratic majority last year, say they should be focused on other issues and next year’s election. “I’ve been traveling all of August,” Rep Henry Cuellar of Texas said this week. “This is not an issue people bring up. I think a lot of people would rather just vote him out, vote the president out.” Other Democrats argue that impeachment is a process without a payoff, since the Senate would never remove Trump. Maryland Rep Jamie Raskin, a member of the Judiciary panel who has backed impeachment proceedings, said, “That’s a legitimate thing for us to think about, and it’s a political puzzle we have to solve over the next few months.” The committee’s impeachment vote, which was first reported by Politico, will come as the panel has signaled it will broaden its impeachment probe beyond Mueller’s report. The Judiciary panel and the House Oversight and Government Reform Committee announced Friday that they are demanding information about the spending of taxpayer money at the president’s hotels and properties, partly to inform the impeachment investigation. The committees said there have been “multiple efforts” by Trump and administration officials to spend federal money at his properties, including Vice President Mike Pence’s stay this week at a Trump resort in Doonbeg, Ireland. The Democrats describe Pence’s visit, and the possibility that next year’s Group of Seven summit will be held at Trump’s Miamiarea Doral golf resort, as corrupting the presidency. Payments from foreign
officials are particularly troubling, they say, considering the emoluments clause in the Constitution that bans the president from taking gifts from other governments. “We have been focused on the Mueller report, and that is a very small part of the overall picture,” said Raskin. “We must get America focused on the ongoing violations against basic constitutional principles.” Pelosi echoed the Democratic investigators, calling Trump’s properties “a cesspool of corruption” and a “black hole for taxpayers’ money”. She noted that Trump’s trips to his Florida resort Mar-a-Lago can cost millions of dollars per visit. “The American people deserve a government that serves their interests, not one that’s being exploited to line the president’s pockets,” Pelosi wrote in a blog post. Aside from reviewing his use of his properties, the Judiciary panel is also expected to investigate hush money payments Trump made to kill potentially embarrassing stories, and has subpoenaed the Department of Homeland Security to explore whether the president offered pre-emptive pardons for lawbreaking. More subpoenas are likely. Other committees are investigating Trump’s financial entanglements as well. The House intelligence and financial services panels are seeking records from two banks with which he did business, probing whether there may be links to money laundering. House intelligence committee Chairman Adam Schiff, D-Calif, has long said Congress should focus on following Trump’s finances — a subject Mueller stayed away from. In an interview on Friday, Schiff said his panel will continue on that track this fall, including Trump’s business links to the Persian Gulf region and his efforts before the 2016 election toward building a tower in Moscow. Schiff said he thinks people’s views are “pretty well dug in” on the Russia investigation.
NOTICE
NOTICE is hereby given that BRIDGETTE HALL-FERGUSON of Edmond Street, P.O.Box N10053 ,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 September 9th day of July, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that BETTY MICHEL of Royal Palm Street Nassau ,Bahamas. is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the September 9th day of July, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
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Monday, September 9, 2019, PAGE 9
Justices tuning in to cable television civil rights lawsuit WASHINGTON Associated Press COMEDIAN and media mogul Byron Allen wants TV viewers to watch the channels his company produces — from one that runs “Judge Judy”-like shows all day to those dedicated to comedy, cars, food and pets. But while many distributors carry Allen’s channels, two cable giants have refused. Allen says the reason is that he’s black, and so he has sued for racial discrimination. An appeals court has let his lawsuits go forward, but now the Supreme Court will weigh in and could deliver a setback. The justices will hear arguments Nov 13 in a $20bn lawsuit that Allen filed against Comcast, with the outcome also affecting a $10bn case he has filed against Charter Communications. If Allen prevails, blackowned businesses will have an easier time winning suits that allege discrimination in contracting. If Comcast wins, the bar will be high to bring and succeed with similar suits. The question for the justices is whether Allen needs to show that race was just a factor in Comcast’s decision not to offer him a contract or whether it was the sole factor. Allen said his case is about getting rid of institutionalised racism. Pursuing that claim, he said, “is one of the greatest things I’ve ever done in my life” and “one of the things I’m most proud of.” But Comcast says its decision not to carry Allen’s
COMEDIAN and media mogul Byron Allen poses for a picture in Los Angeles. The Supreme Court will hear arguments on Nov 13 in a $20bn lawsuit Allen filed against Comcast, with the outcome also affecting a $10bn case he filed against Charter Communications. If Allen wins, it will become easier for black-owned businesses to bring and win civil rights lawsuits like his that allege discrimination in contracting. Photo: Chris Carlson/AP channels has nothing to do with race. Allen’s content is “not particularly original” and “not particularly high quality,” said Comcast lawyer Lynn Charytan, and Comcast simply made an editorial decision not to carry it. A trial court dismissed Allen’s suit three times before an appeals court, according to Comcast, wrongly let it go forward. The Trump administration has sided with Comcast. Allen, 58, began his route to media mogul as a child when his family moved from Detroit to Los Angeles. His mother got a job at NBC, which meant Allen hung around the studios. He
would see Johnny Carson tape “The Tonight Show” and comedian Flip Wilson rehearse for his variety show. As a teenager, Allen began doing comedy himself, and he appeared on the “Tonight Show” for the first time when he was 18. That led to a job as a host for reality television forerunner “Real People” while he was a student at the University of Southern California. Ultimately, Allen’s interests turned to the business of television, and in 1993 he founded his own media company. Today his Los Angelesbased Entertainment Studios has 10 television networks, including Cars.tv, Comedy. tv, Pets.tv, Recipe.tv and JusticeCentral.tv. Last year, he bought The Weather Channel. He also has a movie distribution company. But Comcast and Charter Communications, the nation’s two largest cable providers, have passed on carrying Allen’s channels. Other distributors including Verizon FIOS do carry the channels. So do the nowmerged AT&T and DirecTV after Allen sued them and they settled. Comcast has called Allen’s suit “a scam”, saying it and others that Allen filed were intended to generate media attention and timed to exploit when the companies were working on mergers. Comcast has noted that Allen originally sued Comcast but also civil rights groups including the NAACP and National Urban league, saying they had conspired to discriminate against him. Comcast has called the allegations preposterous.
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ALL SHARE INDEX: CLOSE: 2,167.37 | CHG: 8.21 | %CHG: 0.38 | YTD: 57.92 | YTD%: 2.75 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 20.91 7.00 5.92 2.60 2.00 4.98 11.75 6.17 4.64 12.50 2.81 2.64 10.00 7.35 15.60 9.30 3.75 14.20
52WK LOW 3.50 19.17 4.90 4.46 1.00 0.19 2.00 9.17 6.15 3.60 7.00 2.35 1.75 7.51 6.10 12.10 6.20 3.01 13.00
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
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ
1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Class A Focol Class B
CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB
PREFERENCE SHARES
1.00 10.00 1.00
1.00 10.00 1.00
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00
52WK LOW 100.00
115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
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
52WK HI 2.25 4.31 2.06 191.61 158.55 1.63 1.77 1.71 1.17 7.89 9.35 6.80 11.39 12.15 10.63 10.00 8.69 11.79
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.56 1.68 1.65 1.09 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
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)
MUTUAL FUNDS
MARKET TERMS
LAST CLOSE 4.10 17.43 6.00 5.92 2.46 1.80 4.53 11.06 6.16 4.07 7.50 2.92 2.64 10.57 7.00 15.45 9.20 3.40 14.20
CLOSE 4.10 17.43 6.00 5.92 2.46 1.80 4.98 11.06 6.16 4.07 7.50 2.92 2.64 10.57 7.00 15.45 9.20 3.40 14.20
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
LAST SALE 100.00
CLOSE 100.00
CHANGE 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
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
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
VOLUME
1,500
VOLUME
NAV 2.25 4.31 2.06 191.61 158.33 1.63 1.77 1.71 1.17 7.89 9.35 6.80 11.39 12.15 10.63 9.92 8.68 11.38
EPS$ 0.240 0.932 1.760 0.323 0.098 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.000 0.728 0.816 0.939 0.203 0.631
DIV$ 0.160 1.260 0.000 0.250 0.000 0.020 0.000 0.720 0.220 0.120 0.000 0.068 0.060 0.328 0.240 0.540 0.200 0.120 0.610
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
P/E 17.1 18.7 N/M 18.3 N/M N/M -11.4 15.3 13.7 22.1 53.6 28.6 5.7 N/M 9.6 18.9 9.8 16.7 22.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
YIELD 3.90% 7.23% 0.00% 4.22% 0.00% 1.11% 0.00% 6.51% 3.57% 2.95% 0.00% 2.33% 2.27% 3.10% 3.43% 3.50% 2.17% 3.53% 4.30% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%
INTEREST Prime + 1.75%
MATURITY 19-Oct-2022
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%
20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022
YTD%12 MTH% 2.15% 3.88% 1.61% 4.11% 1.53% 2.74% 3.85% 6.28% 7.12% 2.08% 1.91% 4.55% 1.45% 4.30% 1.67% 4.21% 4.75% 7.44% 5.53% 8.48% 8.12% 12.28% 3.03% 4.85% 9.83% 0.60% 3.92% 3.72% 2.47% 3.16% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%
NAV Date 31-Jul-2019 31-Jul-2019 26-Jul-2019 30-Jun-2019 30-Jun-2019 31-May-2019 31-May-2019 31-May-2019 31-May-2019 31-Jul-2019 31-Jul-2019 31-Jul-2019 31-Jul-2019 31-Jul-2019 31-Jul-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019
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 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
TO ADVERTISE TODAY IN THE TRIBUNE, CALL 502-2394