TUESDAY, OCTOBER 4, 2016
business@tribunemedia.net
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Bran demands Baha Mar ‘sale’ tax answer By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
The Democratic National Alliance’s (DNA) leader yesterday demanded that the Government disclose whether the Treasury will receive nine-figure Stamp Duty payments from Baha Mar’s ‘two sales’, as he branded the Supreme Court’s rationale for sealing the deal “a cop out”. Branville McCartney told Tribune Business that a 10 per cent Stamp Duty/VAT levy on Baha Mar’s sale, which is effectively a real estate transaction, would generate a much-needed boost when set against the
DNA chief challenges Govt on ‘nine-figure’ sum Wants same deal if Stamp/VAT waived Brands judge’s seal reasoning as ‘cop out’ Branville McCartney Bahamas’ total $7.64 billion public debt. He added that enforcing the 10 per cent tax would
demonstrate the Government’s commitment to reducing a public sector debt equivalent to 90 per cent of
GDP. However, several Tribune Business sources familiar with the Baha Mar situation, speaking on condition of anonymity, told this newspaper that the Government is likely to waive the payment of Stamp Duty/ Value-Added Tax (VAT), or offer a concessionary rate, as part of the agreement to complete and open the project. As a result, Mr McCartney challenged the Christie administration to give him the same ‘tax exemption’ deal on property he is currently selling if such incentives are being granted to the Chinese. See pg b4
SPV, $45m bonds Super Value sees in next CLICO 80% business rise resolution phase through Matthew By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Government yesterday unveiled the next steps in bringing resolution for CLICO (Bahamas) longsuffering policyholders, which include the creation of a new insurance vehicle and $45 million bond issue. The Christie administration, in a statement, confirmed that a special purpose vehicle (SPV) to be called Coral Insurance Company is being formed to hold CLICO (Bahamas) insurance policies that remain in effect. The SPV, which will be licensed and regulated by the Insurance Commission of the Bahamas (ICB), will be set up by the second week of November and hold the remaining insurance portfolio until it is purchased by another insurer. However, it appears that the taxpayer has some exposure to Coral Insurance, as the Government has agreed to provide “capital support” to cover the ‘gap’ between its assets and policy liabilities. Coral Insurance’s creation will trigger the second phase in the Government’s plan, which is its issuance of $45 million worth of bonds to help compensate CLICO (Bahamas) former Executive Flexible Premium Annuity (EFPA) holders and those who surrendered their pension policies. The bond issue, as previously revealed by Tribune
New ‘insurer’ to be licensed by mid-November Then to issue bonds for creditor/ client payouts Govt admits late in delivering Business, will be handled by Leno Corporate Services. The bonds will be issued in exchange for, and replace, the pledges issued to former CLICO (Bahamas) clients owed more than $10,000, and who received their first cash payments in February 2016. That collective payment totalled some $13.1 million. Paul Moss, an attorney representing several persons who were caught up in CLICO (Bahamas) February 2009 collapse into insolvency, said yesterday he was “hopeful” that the Government would finally deliver on its promised resolution. He added, though, that since it was more than seven years since the insurer fell into court-supervised liquidation, he would adopt a “wait and see” attitude. “I think in this whole process one would have to wait and see whether anything actually takes place,” See pg b5
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Super Value’s owner yesterday said he had seen an estimated 80 per cent spike in business over the weekend, as Bahamians stocked up on food and water ahead of Hurricane Matthew. “It was a rush like Christmas. People started shopping on Friday afternoon,” Rupert Roberts told Tribune Business. “There was a heavy rush on Saturday and Sunday. I expect the same until today. “Our store in Winton was temporarily out of water. We had to send a few hundred cases out of the warehouse until the local suppliers got there. Due to Hurricane Joaquin last year and the intensity of
Rupert Roberts
this storm, I think the public is taking it seriously.” Mr Roberts added: “Fortunately we have had five days’ warning, and it’s not caused panic shopping; it’s been spread out, so that we can handle it better allowing us to restock every night. See pg b3
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Insurers facing ‘perfect storm’ with Matthew By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Bahamian insurers were last night facing “the perfect storm” in Hurricane Matthew, having rated the chances of a ‘direct hit’ on New Providence and other major population centres at “50/50” prior to its latest forecast track. Anton Saunders, RoyalStar Assurance’s managing director, told See pg b4
Rate chances of direct Nassau hit at ‘50/50’ Predict loss equivalent to 3-5% of total sums insured ‘Never seen’ all islands hit as projected
‘Catastrophic’ hit if storm strikes Nassau By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Bahamian economy could suffer “catastrophic” consequences if Hurricane Matthew scores a direct hit on Nassau, the Chamber’s chief executive yesterday warning this nation “cannot take” another Joaquin-style hit. Edison Sumner told Tribune Business that if Nassau “goes down” as a result of Matthew, which is forecast to remain a major hurricane as it moves through the Bahamas, then “the entire country will suffer” because of it. This, he explained, would occur because Nassau is both “the centre of government” and commercial activities for the Bahamas, in the past serving as a hub for relief efforts to assist Family Islands hard-hit by past hurricanes. Should New Providence suffer a direct strike from what are projected to be See pg b5
Bahamas ‘can’t take’ another Joaquin-type impact ‘Entire nation will suffer’ if capital directly impacted Chamber chief ‘implores’ businesses to prepare
Edison Sumner
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tuesday, october 4, 2016
life A second chance at
By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net
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aquell Butterfield has two birthdays – one that marks the date of her birth and the other which signifies an awakening that changed her life. Paquell is a student, author, motivational speaker and former beauty pageant contestant. But since surviving a near fatal car crash in 2010, she is also a traumatic brain injury survivor. At the time of the accident, Paquell was a 24-year-old woman who struggled with her identity and with who she really wanted be. All of that the changed when she woke from a five-week coma after the crash. Following her brush with death, Paquell became intent on rediscovering her true self and sharing this message with others. For this reason she has penned her first book, “KopyKat: Take Time to Find Yourself”, which is expected to be released on October 12. It chronicles her journey so far and seeks to remind readers that they are uniquely made by God. “For most of my life I did my best to fit in by following the order of the day. I simply fell in line; this kept the peace. Keeping the peace externally made me unhappy and not at peace internally because I wasn’t being true to me. At one point, however, I did follow a dream of mine, which was simply to become a 2008 Miss Bahamas Universe beauty pageant contestant. I didn’t win and that’s fine because I wasn’t prepared to represent the Bahamas internationally at that time. Rather, it was about fulfilling a dream of mine and no one’s dream for me. The fulfillment of that dream was the start of my journey,” she said. As a pageant contestant, Paquell there were several demands that weighed on her, including the feeling of having to be perfect all the time. Her life became all about achieving and maintaining perfection, and the material things in life. She lost sight on who she was. “For me, seeing that I struggled with low self-esteem up to this point, I began making everything about this image – the image of perfection. What do
Brain injury survivor shares experience of finding herself in new book I want people to see? Like you may be doing now, I was hiding behind this image. The real me was lost, confused, hurt, angry, wanted to be loved and accepted. I, however, showed people a strong female who could do a lot of things, just like the guys,” she said. For 24 years of her life, Paquell said, she merely existed; she was a “kopykat”. That all changed with the car crash. That incident caused an instantaneous and tremendous change in her life. The now 30-year-old woman said following the accident it was as if God had “placed a transplant on my heart”. “Once I was awake physically, I spent a period from 2011 to 2015 learning, travelling lots for medical assistance,and therapy. I had to go back to basics; learning to write, speak, walk, and mature mentally and emotionally – just like a baby. In essence, I had a second chance at life where I learned how to live with the new version of myself. This was not easy because I found myself still holding on to the old me, doing everything I could to live the life I had planned for myself through society,” she said. Today, Paquell said she is fully awake spiritually, mentally and physically. She hopes others are able to have the kind of joy one can only experience when one discovers their true self. “I’m fully awake, and what woke me was when I stopped fighting sleep. I stopped fighting between being at peace with the world and myself. I chose to live in harmony with the new life I had received. This makes me ‘rebellious’ because I refuse to be boxed in. I have a life to live, dreams to pursue, principles to live by and a mind of my own,” she said. “KopyKat” is available at Amazon and Barnes & Nobles. Hard copies of the book can be purchased directly from the author by e-mailing info@ paquellbutterfield.com.
“I had to go back to basics; learning to write, speak, walk, and mature mentally and emotionally – just like a baby. In essence, I had a second chance at life where I learned how to live with the new version of myself.”
The cover art for Paquell Butterfield’s first book, “KopyKat’.
Paquell in her previous life as a beauty pageant contestant. Photo/Ken Nguyen
PAGE 2, Tuesday, October 4, 2016
BISX lists latest Govt debt issue The Bahamas International Securities Exchange (BISX) yesterday confirmed the listing of another Bahamas Government Stock (BGS) debt issue, more than one year after it was placed with investors. This is the fourth tranche of BGS securities to be listed on BISX, and consists of three notes with different principal maturity dates. The offering for this fourth BGS tranche closed in October 2015. Keith Davies, BISX’s chief executive, said: “We are happy to add an additional tranche of BGS to the three existing tranches
$4.17m in BGS securities traded since August 2015 listed on BISX. “Since we began listing BGS in August 2015, we have seen $4.17 million in total value of BGS traded. This level of liquidity proves that the exchange is the best place to concentrate the trading of these instruments. “Investors in these notes have benefited greatly from this liquidity, while ben-
Keith Davies efiting from the low level of risk of instruments issued by the Government of the
Bahamas. We are equally confident that BISX is the natural location for the listing and trading of Bahamas Government Registered Stock (BGRS), which are currently managed by the Central Bank of the Bahamas.” Holland Grant, BISX’s chief operating officer, explained the naming convention used by BISX to differentiate the symbols of the various BGS notes. “Our purpose in the symbol naming convention was to create a simple and unambiguous methodology that can be used repeatedly for different notes and
tranche,” he explained. “Each security listed on BISX is given a unique symbol for ease of identification. For BGS, each security is identified by a sixcharacter symbol intended to uniquely identify that security.” He gave a BGS Note with the symbol BG0407 as an example, saying it could be broken down to identify the following: * The first two characters will be the same for all BGS, namely ‘BG’; * The second two characters will reflect the tranche that these particular bonds were issued under.
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The tranche number is displayed on page one of the Offering Memorandum for each tranche. Tranche 4 was issued in October 2015, and included threeyear bonds, five-year bonds and seven-year bonds. All bonds issued under that tranche would have ‘04’ as their second two characters. The last two characters will reflect the term of the individual bonds, so the seven year bond would have ‘07’ as the last two characters. Therefore, the sevenyear bond issued under Tranche 4 would be represented by the following symbol: ‘BG0407’.
BHTA chief becomes top Caribbean hotelier Bahamian hotelier, Stuart Bowe, has been named the 2016 Caribbean Hotelier of the Year by the Caribbean Hotel and Tourism Association (CHTA). Mr Bowe, the senior vicepresident and general manager of resort operations at Atlantis, received the honour at the Caribbean Hospitality Industry Exchange Forum (CHIEF) in Fajardo, Puerto Rico, on Sunday. In accepting the region’s top hospitality award, Mr Bowe credited his grandmother with teaching him service and attention to detail from “cleaning up the kitchen”. Mr Bowe’s contribution to the hospitality and tourism industry spans more than 27 years, having “cut his teeth” in customer service and management working at McDonald’s in his teenage years, before entering the industry as a management trainee. He subsequently worked his way up to senior management, working in every department and almost all job categories - from dishwasher to busboy, from bartender to laundry atten-
dant, from housekeeping to maintenance, and from front desk to landscaping. Mr Bowe earned a BA in accounting in 1986 from Florida State University, an MBA in marketing summa cum laude from Walden University in 2009, and is currently pursuing a PhD in applied management and decision sciences with a focus on leadership and organisational change. Prime Minister Perry Christie described Mr Bowe as “an exemplar” to be followed by generations of Bahamians. “He is a manager cum laude, one who has brought the pursuit of excellence to his work ...(and) on behalf of the people of the Commonwealth of the Bahamas, it is entirely on their behalf that I salute you for all that you have been able to do.” “Stuart Bowe personifies Caribbean excellence. He is disciplined and innovative, and a leader who inspires generations of Bahamians and Caribbean people through his accomplishments and his humanity,” said Frank Comito, the CHTA’s director-general
and chief executive, who previously served as the Bahamas Hotel & Tourism Association’s (BHTA) executive vice-president. Mr Bowe was posted to Dubai from 2008-2010 to oversee the grand opening of the Atlantis, Palm Jumeirah, serving as vice-president of resort operations in the Middle East. Returning to the Bahamas, he became active in the Bahamas Hotel & Tourism Association (BHTA), establishing numerous school programmes to help children understand the importance of tourism and career opportunities in the sector. The junior hotelier programme that he was instrumental in setting up in primary and secondary schools has impacted more than 4,000 students. Now in his third consecutive term, Mr Bowe is the BHTA’s longest-serving president. He currently serves as first vice-president of the Caribbean Hotel and Tourism Association (CHTA).
Stuart Bowe receives the Caribbean Hotelier of the Year award from Karolin Troubetzkoy, president of the Caribbean Hotel and Tourism Association. Photo/Suzanne Ludwig/Ludwig & Co
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Tuesday, October 4, 2016, PAGE 3
Bottled water suppliers in 100% business rise
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Bottled water suppliers yesterday estimated that business had increased 100 per cent ahead of Hurricane Matthew, with one manufacturer estimating it was moving “three times’
more product than normal”. Christian Knowles, manager at Aquapure, told Tribune Business that sales had picked up 100 per cent “at the very least”, as persons sought to stock up on bottled water ahead of the storm. “We are very, very busy.
We are running at full speed production, and we are getting our bottles out as fast as we can make them and we are very busy outside at the depot,” he confirmed. “I would say business has picked up 100 per cent at the very least. We are probably moving three times’
the amount of product we would usually move.” Lauren Wong, operations manager at Chelsea’s Choice, told Tribune Business that the heavy influx of customers began on Friday. “Unlike the other water companies we have our own water park, and it has proven to be beneficial in
terms of us being able being able to serve our customers more efficiently,” she said. “The traffic is kind of insane at the moment, but we are trying to manage it as best as we can. We have made provisions for these types of events, so we are trying to ensure that things are running as smoothy as
they can.” Ms Wong added: “We started to see more of an influx on Friday. We want to ensure that our customers are well prepared. We understand that water is absolutely vital, so we are doing the best we can to serve our customers right now.”
Grand Bahama hotels to evacuate tourists Building material
Major Grand Bahama resorts are set to evacuate all visitors by today, with some 1,537 tourists currently on the island. All three of the Old Bahama Bay Resort, the Taino Beach Resort and Flamingo Bay Hotel and Marina will evacuate their guests, while Sunwing Airlines will deploy aircraft to remove guests at Memories Resort, the Ministry of Tourism said yesterday. “All hotels and resorts throughout the Bahamas have activated their hurricane programmes, and are taking all necessary precautions to protect visitors and residents, as safety remains the highest priority,” the Ministry of Tourism’s director-general, Joy Jibrilu, said. The Ministry said that while some visitors on the Family Islands are evacuating ahead of the storm, others and second homeowners are staying put. As of yesterday, there were 90 guests on Abaco; 38 visitors on Andros; 25 international visitors in the Berry Islands; 392 guests in Bimini; 489 guests in Exuma; Long Island has 3 guests; and 18 international visitors are on San Salvador.
Emergency Coordinating Committee Command Centre On Cat Island, four visitors left on Monday. Three international visitors on Inagua and two visitors on Mayaguana also left those islands. On Crooked Island, four visitors also left yesterday, but two second homeowners are staying on the island. Finally, three second home owners on Ragged Island remain. “We want to assure all persons who may have family members visiting the Bahamas at this time that every measure is being taken by hotels and our tourism offices to ensure the safety and security of those visitors. We will continue to
reach out to each island for regular updates,” Ms Jibrilu added. Several cruise ships have also cancelled scheduled visits to the Bahamas or have changed their itinerary to avoid Hurricane Matthew. Carnival Sensation, which was scheduled to call on Half Moon Cay and then Grand Turk, will instead visit Mexico. Carnival Ecstasy, Carnival Elation, Enchantment of the Seas, Majesty of the Seas, Norwegian Sky and Disney Dream have all cancelled calls to The Bahamas.
Stocks fall broadly, led by drops in real estate, utilities NEW YORK (AP) — Stocks fell in light trading Monday as investors dumped former darlings of the market, real estate companies and utilities. Indexes slumped from the start of trading and remained down throughout the day as investors continue to speculate about when the Federal Reserve is likely to raise interest rates as the economy strengthens. A report earlier in the day showed U.S. manufacturing picking up. The selling was modest, but broad. Eight of the 11 sectors of the Standard and Poor’s 500 index closed down for the day. The Dow Jones industrial average fell 54.30 points, or 0.3 percent, to 18,253.85. The S&P 500 index lost 7.07 points, or 0.3 percent, to 2,161.20. The Nasdaq
composite declined 11.13 points, or 0.2 percent, to 5,300.87. Investors hungry for income-producing assets have been buying utilities and real estate companies for their steady dividends. But those stocks become less attractive if interest rates and bond yields climb. On Monday, stocks of real estate companies lost 1.8 percent. Utilities shed 1.4 percent. In an election year when both candidates for U.S. president are talking tough about trade, renewed fears over Britain’s exit from the European Union may have also added to the jitters, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. British Prime Minister Theresa May said that the
formal process by which Britain leaves the European Union, dubbed "Brexit," will start by March. That sent the British pound down sharply. May signaled that she would prioritize controls on immigration over access to the European single market. "There was a hope in the market that Brexit didn’t mean Brexit," said Haworth. But now, "we have a timetable." Bucking the downward trend in the market were some stocks involved in the latest of a string of dealmaking. Janus Capital surged $1.69, or 12 percent, to $15.70 after announcing it would merge with a London-based investment company, Henderson Group. Outdoor gear retailer Cabela’s shot up $8.25, or
TEMPORARY ADMINISTRATIVE ASSOCIATE The Bahamas Country Office of the Inter-American Development Bank (IDB), wishes to contract the services of a temporary Administrative Associate. The IDB is a regional multilateral development Bank seeking to contribute to the social and economic development of 26 member countries in Latin America and the Caribbean through lending and non-reimbursable grants. The objective of the contract is to provide assistance to the Operations team in diverse corporate and operational areas, to assist with optimal resource utilization and the adaptation of administrative processes so as to meet program requirements in a highly complex working environment. Duration: Four months. Requirements: A certificate or Associates Degree in Business Administration or Management, Accounts, Human Resources, or a related field and a minimum of two years of relevant professional experience or the equivalent combination of education and experience. Knowledge of Spanish would be an asset. All candidates must be citizens of The Bahamas or of an IDB member country in possession of a valid work permit providing eligibility to work in The Bahamas. For more information about this position and to apply, please refer to the following link before October 11th, 2016: https://iadbcareers.taleo.net/careersection/jobdetail.ftl?job=1600003523&lang=en
Carnival Victory has rescheduled its itinerary to avoid the storm and visited Nassau on Monday, October 3. It will visit Freeport on Tuesday. The Port of Nassau will close at noon today. The Royal Bahamas Defence Force will take charge of the facility and be responsible for its reopening. “We are more concerned with the safety of visitors and residents than numbers right now. We are praying for the best outcome, and once the all clear is given we will turn our attention to assisting with recovery efforts if necessary, and also sending the message to the world that the Bahamas is once again open for business,” Ms Jibrilu said. The Ministry of Tourism has activated its Emergency Coordinating Committee Command Centre at the British Colonial Hilton in Nassau in preparation for Hurricane Matthew. Its crisis management team is liaising with the National Emergency Management Agency (NEMA), Bahamas Hotel and Tourism Association (BHTA), Nassau Airport Development Company, the Port Authority and other relevant authorities.
15 percent, to $63.18 on news it is being bought by Bass Pro Shops for $4.5 billion. Ernie Cecilia, chief investment officer at Bryn Mawr Trust, said companies are making deals because they have few other ways of lifting sales in a slow growth, low inflation world. "If you can’t raise prices," Cecilia said, "how else are you going to grow?" The price of oil continued its climb from last week, which normally would help drillers and other energy companies. Benchmark U.S. crude oil rose 57 cents to close at $48.81 a barrel. In the end, though, even energy companies fell, losing 0.2 percent. Among stocks making big moves, Merrimack Pharmaceuticals slumped 31 cents, or 5 percent, to $6.04. The cancer drug developer announced that it would cut almost a quarter of its workforce and look for a new CEO.
firms incur preMatthew rush By NATARIO McKENZIE
We had a hurricane 10-11 years ago and we had two nmckenzie@tribunemedia.net truck loads of plywood that sold out in four hours. We Lumber distributors haven’t gotten to that stage and building supply stores where everyone is going to yesterday confirmed they go wild, but we have sold had seen a pick-up in busi- out of plywood before.” ness due to a spike in plyMatthew, is a powerful wood sales ahead of Hurri- Category Four hurricane cane Matthew. with maximum sustained Raymond Collins, man- winds of 145mph, with ager at Tops Lumber Yard, higher gusts. The storm is told Tribune Business: “We expected to move north have been pretty busy with across the heart of the Baplywood sales. It has been hamas from Wednesday a steady flow of traffic. It into Thursday. started a bit on Saturday Hurricane force winds but today has been pretty extend outward up to 40 busy.” miles from the centre, and FYP president, Mark tropical storm force winds Roberts, told Tribune Busi- extend outward up to 195 ness: “I think that some miles. Matthew is expected to people are waiting for the last minute. I have spoken produce total rain accumuwith one of my sales asso- lations of eight to 12 inches ciates; they said that traffic over the southeastern Bawas average, but obviously hamas, with isolated maxiwe are selling a lot more mum amounts of 15 inches. Residents have been urged plywood than usual. “It’s an average number to take all the necessary of customers, but just a dif- precautions to prepare for ferent type of customer. the passage of the storm. Tribune Business Reporter
Super Value sees 80% business rise through Matthew From pg B1
“I heard that some of the stores like Winton checked out at 1.30am on Sunday morning. We have our perishables in and were trying to get another load in, but Tropical wasn’t sailing, so we were trying to get in on on MSC and they were prepared to sail and arrive yesterday and unload, but they closed the port, so sailing has been cancelled. “I hope that we are not
short on perishables. They will sail as soon as weather permits. I think we will be able to meet the demand and stay as late as it’s safe to get our staff home.” Matthew is a powerful Category Four hurricane with maximum sustained winds of 145 miles per hour, with higher gusts. The storm is expected to move north across the heart of the Bahamas from Wednesday into Thursday.
NOTICE Notice is hereby given that BGRS Certificate No.98799 at a rate of 0.0625%APR in the amount of $1,400.00 is lost and due to mature 2033. If this certificate is found, please write to P.O.Box N-4868 Nassau, Bahamas.
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Insurers facing ‘perfect storm’ with Matthew From pg B1 Tribune Business that a Category 3-4 storm striking New Providence directly would cause losses equivalent to 3-5 per cent of total sums insured. While declining to place a dollar figure on this, Mr Saunders said that losses/ damages could rise as high as 5-7.5 per cent of total sums insured should storms with the power of Hurricane Matthew score a direct hit, The RoyalStar chief said there were still various tracks and scenarios that could affect Hurricane Matthew, but he warned: “We’re not ruling out a direct hit on New Providence. “We are planning on the worst case scenario that Nassau will be impacted, as well as Grand Bahama and Abaco, and we are building up our resources to deal with that scenario at this time. That’s 50/50 now until we know with any clear certainty that nothing’s going to happen.” Late afternoon forecasts,
which shifted Hurricane Matthew’s projected track to the west, taking it directly over New Providence and Freeport, and placing Abaco on the stronger side of what is predicted to be a Category Three storm, is the worst nightmare for both property and casualty insurers and the Bahamian economy. In such a scenario, the Bahamas’ three major population and economic centres, with the highest concentrations of insurance risk, will be impacted by a hurricane that has the potential to create catastrophic damage. “If it comes across as a Category Three or Category Four, we would project, based on our computer models, that if it hits directly New Providence or Nassau, it would range from 3-5 per cent of the aggregate [sum insured] being damaged,” Mr Saunders told Tribune Business. “That’s what the amount’s going to be around for the loss. If there’s a direct hit, it
can go from 5 per cent to 7.5 per cent.” Mr Saunders said RoyalStar had placed a moratorium, or bar, on taking on any new property and casualty insurance business until Hurricane Matthew had passed. He pledged, though, that existing clients with renewals coming due would see their policies “honoured 100 per cent”, while quotes written prior to the storm’s approach will receive the same treatment. “There will be no new business or change in sums insured during this period,” the RoyalStar chief reiterated. He confirmed that international loss adjusters had already been placed on standby to fly into the Bahamas to deal with damage/ claims assessments in Matthew’s wake. “We are not ruling anything out right now,” Mr Saunders told Tribune Business in relation to Hurricane Matthew. “We have never seen where a hurricane coming from the south can go straight up the Bahama chain. We have never seen something like this before.”
Hurricane Floyd in 1999, and Hurricane Frances in 2004, are probably the most recent comparisons to Matthew in terms of track and intensity. Mr Saunders, though, sought to reassure RoyalStar clients that the property and casualty underwriter would be there to assist them financially in recovering from any hurricanerelated losses. “At the end of the day, this is the business we are in,” he told Tribune Business. “We don’t cry over spilt milk. We will do what is necessary to ensure our clients are protected, and we hope and pray there is no loss of life. “What we have is through the protection of reinsurance, and our balance sheet, we are able to withstand whatever comes our way, and will be fully prepared if Matthew comes our way. We are preparing for the worst and hoping for the best.” Tom Duff, general manager of Insurance Company of the Bahamas (ICB), described Hurricane Matthew as “the perfect storm” for both the wider nation and the insurance industry if it
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travelled on its newly-projected path. “It seems the Bahamas is not going to be spared,” he told Tribune Business. “It’s clearly going to hit some part of the Bahamas. “Right now, the most popular forecast seems to have it heading closer to New Providence, unfortunately, and heading further north. From an industry point of view, that’s the worst case scenario.” While Hurricane Joaquin, a Category Four storm, last year inflicted massive damage on the south-central Bahamas, the losses incurred by the Bahamian insurance industry and their reinsurance counterparts were relatively low, given the minimal insurance penetration in these islands. However, Hurricane Matthew is now forecast to directly impact the major urban populations of Nassau and Freeport, plus Abaco. “Whatever it hits is awful,” Mr Duff said of Matthew, “but if it tracks east of New Providence that’s a favourable outcome from an insurance perspective because it will get the weaker side of the storm.
“Purely from a business perspective, the worst outcome will be that it continues to track further west and hits New Providence. “If it does that and hits Grand Bahama, and Abaco gets a chunk as well, that will be a perfect storm from an insurance perspective.” Should such a scenario materialise, Mr Duff confirmed that potential damages - both insured and uninsured losses - would be “a totally different ball game” compared to what occurred in Hurricane Joaquin. He added that Matthew’s strength and slow pace of movement were also worrying. “I can’t deny that it’s a big concern, and we won’t be relaxing until we know where it is in relation to New Providence, Grand Bahama and Abaco in particular,” Mr Duff told Tribune Business. “I’m trying to stay positive; that’s all we can do. We have to accept we’re here to provide a service, and this is the business we’re in. We have to accept that this is when our service is needed.”
should the proposed sale not be concluded. This is not unusual.” He added that the court had to balance the public’s interest and ‘right to know’ with “other equally compelling considerations”. He did not detail what these “considerations” were, although they are likely to involve allowing the Baha Mar sales process to move forward free from scrutiny and public speculation. “Whilst the matters are of importance to the general public, having regard to the overall impact to the people of the Bahamas and the Government involvement,” Justice Winder said of Baha Mar, “it is nonetheless a
commercial transaction of a largely private nature. “The court is sensitive to the importance of ‘open justice’ and that proceedings in court should be open to the public, but this is not the only consideration, and it must be balanced against other equally compelling considerations.” However, in an unusual move, for politicians rarely criticise judges, Mr McCartney argued that the Bahamian people’s ‘right to know’ outweighed the ‘confidentiality’ argument, given that Crown Land and investment incentives/tax breaks were involved. “I think it’s a cop-out,” the DNA leader told Tribune Business of Justice Winder’s September 27, 2016, ruling. “We need to know. It’s not the Prime Minister’s business, it’s not the Chinese’ business; it’s the Bahamian people’s business. “The judge needs to stand up and do what’s right. It’s our money and our land that was given away. It’s our economy and our land that was given away. It’s our economy and our people involved in this. “In essence, they’re saying it’s none of our business when it’s all our business. It’s more our business than the Chinese or the Government’s. It’s the Bahamian people’s business.”
Bran demands Baha Mar ‘sale’ tax answer From pg B1 “I think that’s a question the Government has to answer, and the Government has been very quiet about it because the deal is sealed,” Mr McCartney told Tribune Business on the Stamp Duty/VAT issue. “It’s a huge question, and one that I’m curious for the Prime Minister to answer. “I challenge the Government to ensure Stamp Duty is paid if they want to bring down our debt. I challenge them, because this is an opportunity to do that. “They [the Chinese] should be paying Stamp Duty, just like the Bahamian people have to pay Stamp Duty now. If they don’t have to pay it, I don’t have to pay it,” Mr McCartney continued. “I want to ensure they tell me, as a small Bahamian business person, that they have to pay Stamp Duty. I want them to tell me that if the Chinese don’t pay, then I don’t have to pay it. “I have a pending sale of some property now. If they let the Chinese get away without paying Stamp Duty, I want the same deal as a Bahamian citizen of this country, who doesn’t have the resources of these foreigners.” Even allowing for the fact that bids to purchase Baha
Mar have “not come anywhere near” to paying off the $2.45 billion debt owed to the China Export-Import Bank, the offers are still likely to have been over the $1 billion mark. Based on the normal 10 per cent Stamp Duty rate, this would still leave the Public Treasury looking at a $100 million-plus windfall (2.5 per cent Stamp Duty, 7.5 per cent VAT). And, as revealed by Tribune Business, Baha Mar and all its assets, including the real estate, are being sold not once but twice. The first sale is to a special purpose vehicle (SPV) owned by China Export-Import Bank, the project’s secured creditor, to facilitate the construction completion, while the second, later transaction, is the sale to the proposed purchaser. This implies that the Government could get ‘two bites at the cherry’ in terms of the combined 10 per cent VAT/Stamp Duty levy, with the sale to the ultimate purchaser likely to realise more because the Baha Mar project will have been completed by then. However, there is precedent for the Government to either waive the Stamp Duty entirely, or agree a lower, concessionary rate to facilitate the sale of Baha-
Baha Mar development site mas-based mega resorts. The former Ingraham administration is believed to have done this for the debtfor-equity swap that led to Brookfield Asset Management taking over the Atlantis resort, given that the $200-$300 million sum due to the Public Treasury will have acted as an impediment to that deal. A similar tax payment could also act as an impediment to Baha Mar’s sale and opening. However, many observers will likely say that if the Government has agreed such a waiver, then it amounts to the Bahamian taxpayer helping to finance both the sale and payments to local creditors. Meanwhile, Mr McCartney also described Justice Ian Winder’s rationale for
agreeing to ‘seal’ details of the Baha Mar construction completion and sale agreement as “a cop out”. Justice Winder said he acted as he did “to preserve the integrity of the process” for selling the $3.5 billion development, describing court Orders to ‘seal’ files and keep information confidential as “not unusual” in circumstances such as Baha Mar’s. Justice Winder wrote: “The reason for the sealing was to preserve the integrity of the sales process, which remains a commercially live issue. “The process of approval [of the sales process] by the court ought not to impact the onward sale of the assets to the proposed purchaser or a subsequent purchaser,
NOTICE CUPPARD COURT INC. In Voluntary Liquidation
NOTICE
NOTICE is hereby given that BIRENDRA KUMAR SARMA of Hudson Street, Blair Estate, 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 twentyeight days from the 4th day of October, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, CUPPARD COURT INC. is in dissolution as of September 27, 2016
PUBLIC NOTICE INTENT TO CHANGE NAME BY DEED POLL
International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
The Public is hereby advised that I, DONNALEE DOREEN BETHEL of New Providence, Bahamas mother of DESTINY DAISY BETHELL intends to change my child’s name to DESTINY DAISY STANISCLAS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P. O. Box N-742,Nassau Bahamas no later than Thirty (30)days after the date of publication of this notice.
LIQUIDATOR ______________________
NOTICE SPUTNIK HOLDINGS LTD. In Voluntary Liquidation
NOTICE MAUSICO LIMITED In Voluntary Liquidation
NOTICE PAITILLA ENTERPRISES INC. In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, SPUTNIK HOLDINGS LTD. is in dissolution as of September 27, 2016
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, MAUSICO LIMITED is in dissolution as of September 22, 2016
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, PAITILLA ENTERPRISES INC. is in dissolution as of September 19, 2016
International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
LIQUIDATOR ______________________
LIQUIDATOR ______________________
International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator. LIQUIDATOR ______________________
THE TRIBUNE
Tuesday, October 4, 2016, PAGE 5
‘Catastrophic’ hit if storm strikes Nassau From pg B1 Matthew’s Category Three winds, it may be unable to assist other islands as it has in the past. And Mr Sumner said many islands struck by Hurricane Joaquin, almost a year to the day that Matthew is approaching, had yet to fully recover from that blow some 12 months later. He urged all Bahamasbased businesses to fully prepare for the latest storm’s impact, and to secure their premises and assets - especially their financial and business records, and key corporate documents. “Given the devastation we faced last year with the
business community in the southern islands, we are very concerned about this storm,” Mr Sumner told Tribune Business, “first of all for the citizens of the islands of the Bahamas, and then the safety and security of the business community. “We certainly can’t take another hit like the one we did last year.... These storms never appear at a good time, but at this stage of the country’s development, we cannot take a storm or disaster that impacts its infrastructure and its private sector.” With Matthew last night projected to directly hit New Providence and Freeport (Grand Bahama), and place Abaco on its stronger north-eastern side, the Ba-
hamian economy is facing potential multi-million dollar losses and damages that may run into a nine-figure (hundreds of millions) sum. Mr Sumner acknowledged that Matthew’s impact will be exacerbated if the storm’s centre directly hits New Providence, as this would impact recovery and rebuilding efforts on other islands. “New Providence now seems to be in the path of the storm,” he told Tribune Business. “Our greater concern is the impact it will have on New Providence, Nassau being the centre of commerce and Government for the entire country. “If Nassau goes down, the entire country will suffer because of it. If Nassau goes down, we will have some real concerns we will have to deal with quickly. After the storm passes, we will have to mobilise our-
selves very quickly as far as business development is concerned, and getting back to some level of normalcy.” Mr Sumner said private sector leaders had seen “the likely impact of what a Category Three storm can do to any society” at this year’s National Conclave of Chamber of Commerce heads. He added that “the impact can be quite catastrophic”, and said the Conclave’s main focus was disaster preparedness and recovery. Mr Sumner “implored” all Bahamas-based businesses to take every appropriate measure to secure their assets, both physical and electronic, as this would allow them to recover and re-open more rapidly in Matthew’s wake. “We want to implore businesses to take every precaution they can to en-
SPV, $45m bonds in next CLICO resolution phase From pg B1
Britain’s Prime Minister Theresa May and Chancellor of the Exchequer Philip Hammond, right, during a visit to a construction site in Birmingham, England, where new HSBC bank offices are being built, yesterday. May announced Sunday a timetable for Britain’s exit from the European Union, and Treasury chief Hammond warned on Monday of turbulence in the coming years as Britain negotiates its exit from the trading bloc. (AP Photo)
UK expects years of turbulence during Brexit talks LONDON (AP) — Britain’s Treasury chief has warned of turbulence in coming years as the country negotiates its exit from the European Union, while the pound fell on indications the government may give up on continued access to the EU’s common market. Philip Hammond told the BBC on Monday that Britain will face a couple of years — or longer — of uncertainty as Britain goes through the process of leaving the 28-nation trading bloc. “I think we must go into this negotiating period with a realistic expectation of the turbulence that there could be during the negotiations. People will be speculating — one day it’s going very well, one day it’s not going so well,” Hammond said. “We have to expect a period when confidence will go up and down — perhaps on a bit of a rollercoaster — until we get to a final agreement.” Hammond’s remarks came a day after Prime Minister Theresa May set a timetable for Britain’s exit. She said the country would invoke Article 50 of the EU treaty — the formal mechanism to leave the EU — by the end of March. That would start official talks on Britain’s exit but also the thornier issue of what the new relationship will be
like. In a speech, May emphasized a need to limit immigration of EU citizens, suggesting she may prioritize that over retaining market access for British companies to the EU’s tariff-less common market. The EU has long insisted that Britain cannot be part of the common market if it blocks EU workers. A move to break out of the common market — what experts have termed a “hard Brexit” — has worried many British businesses as they would face new tariffs, red tape and barriers on exports to the rest of the EU. It is a particular problem for Britain’s massive financial services sector, which would lose the automatic right to work across the EU, currently the world’s biggest economic bloc. The pound fell on Monday after the comments by May and Hammond, dropping 1.1 percent to $1.2835. To help the economy through the turmoil, the British government agreed to ease off its budget austerity drive. Hammond said he would abandon the goal of the previous government to put the country’s books into surplus by the end of the decade. He also hinted at tax cuts to stimulate economic activity.
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Moss told Tribune Business. “This is something that has lasted seven to eight years. “There are concerns about the length of time this matter has taken, and that it has not been brought to a conclusion.” Mr Moss suggested that the Government has moved on a CLICO (Bahamas) resolution because it wanted to “ward off” the increasing disillusion among the insurer’s former clients and policyholders, and stop this adding to the increasing disaffection with its policies and direction. He added that most would prefer to receive a cash payout, rather than then seven-year bonds which will carry an interest rate carry equivalent to Bahamian Prime (4.75 per cent), and pay dividends semi-annually. The Government, acknowledging that the bond issue would be more almost two months later than advertised, having initially said it would occur on September 30, said interest would start to accrue as of
October 1. The first interest payment is due on March 2017. Mr Moss, meanwhile, again queried why no public inquiry had been held into CLICO (Bahamas) collapse, given that it had negatively impacted the lives of hundreds of Bahamians and their families. He suggested that there had been “no attempt to learn lessons”, suggesting that the Government and financial services regulators, the Central Bank of the Bahamas and Insurance Commission of the Bahamas, had failed to properly supervise the failed insurer. CLICO (Bahamas) was able to move some $73 million outside the Bahamas without first obtaining Central Bank exchange control approval, while the Insurance Commission (in its former guise as the Registrar of Insurance) was the company’s primary regulator. Arguing that a public inquiry should have taken “precedence” over many other recent government initiatives, Mr Moss said: “This should not happen
sure their staff are safe, and they protect against any loss or damage to life,” he said. “We also want to encourage them to start putting aside their business records, and implement contingencies to protect their business and financial records. In the event there is damage, they don’t want to have to spend a lot of time repairing records.” Mr Sumner said the loss, or damage to, business and financial records had impaired the recovery of many companies impacted by Hurricane Joaquin, especially their ability to access capital. The Chamber chief executive urged companies to make back-ups of their electronic records, and said: “The business community has made considerable adjustments to their business models since last year, where because of Joaquin’s
destruction, they took measures to improve their preparation and readiness for disaster. “We are hoping in this instance that businesses put their disaster management strategies in place.” With Matthew now approaching the Bahamas just over one year since Joaquin devastated the south-central Family Islands, Mr Sumner said many firms on those islands had “not been given enough room to adjust” since then. “We’re hoping for the best,” he told Tribune Business. “Hopefully it’s not going to have as catastrophic an impact as in the southern islands last year. We want to be sure that the centre of civilisation in the Bahamas, in particular, Nassau, is protected.”
again, and because the Government and regulators were culpable in what took place, they don’t want an inquiry because they don’t want fingers pointed at them. “The regulators fell by the wayside. They now want it to be shipped away without any inquiry as to how it got into this position in the first place.” The Government, in its announcement yesterday, said Coral Insurance would be licensed under the Insurance Act 2005. “The insurance license for Coral is currently being processed and is expected to be completed by the second week of November 2016,” it confirmed. “The Government will provide capital support to the ‘SPV’ to cover the liabilities with assets which are admitted by the Insurance Commission of the Bahamas (ICB) for solvency purposes “Policyholders with active/in-force policies should therefore continue to make their premium payments in accordance with their policy contracts to ensure that they continue to receive coverage and benefits under their policies.” The Government ex-
plained that Leno would place the $45 million bond issue as soon as Coral was licensed. “The proceeds of the bond offering will be earmarked for issuance to qualified policyholders of CLICO in exchange for promissory note letters issued by the Government, reflecting residual claim balances owing following the partial claims payout exercise in April 2016,” the Government said. “In fulfilling its commitment to policyholders, Coral through its issuing agents, Leno Corporate Services, will make available for exchange the relevant book stocks during the second week of November 2016. A separate notice regarding the swop/ exchange exercise will be sent out at a later date.”
to advertise today in the tribune call @ 502-2394
PAGE 6, Tuesday, October 4, 2016
THE TRIBUNE
Automakers report mixed US sales results in September
DETROIT (AP) — U.S. auto sales fell slightly in September as demand for new cars and trucks sputtered. Sales dropped 0.5 percent to 1.4 million in September, according to Autodata Corp. It was the fourth month of year-over-year sales declines so far this year. Automakers reported mixed results Monday. Nissan's sales rose 4.9 percent over last September. Hyundai and Subaru reported 4-percent sales gains, while Toyota's sales rose 1.5 percent. General Motors' and Honda's sales were flat for the month. Fiat Chrysler's sales fell 1 percent. Ford and Volkswagen both reported 8-percent declines. Slowing sales aren't necessarily bad news for automakers or consumers. Sales remain near historic highs, and some analysts suggest 2016 sales could still top the record of 17.5 million set last year. Favorable conditions such as low interest rates and low gas prices remain in place. Consumer confidence hit a nine-year high in September, according to the Conference
Board's index. But after six straight years of growth, demand is clearly slowing. U.S. sales are up just 0.5 percent through September. Cars have been particularly hard hit as low gas prices have made SUVs and trucks even more appealing. Brands without competitive new SUVs are struggling; Fiat, for example, saw its sales plummet 30 percent last month. New cars also are feeling pressure from used cars because of the growing popularity of leasing. More than 30 percent of new vehicles are now leased, up from 20 percent five years ago. Around 500,000 off-lease vehicles are returning to the used car market this year and next year, and many consumers will choose them instead of new vehicles, says Alec Gutierrez, a senior market analyst with Kelley Blue Book. That has automakers pushing harder for sales. Incentive spending hit a record of $3,923 per vehicle last month, surpassing the previous high set in Decem-
ber 2008 during the recession. BMW was offering $6,732 in incentives per vehicle in September, up 44 percent from a year ago, according to TrueCar.com. Fiat Chrysler spent $4,302 per vehicle on deals, up 23 percent. Buyers could get $4,500 cash back on a 2016 Ford Escape or $2,000 on a 2017 Chevrolet Malibu. Mark LaNeve, Ford's U.S. sales chief, said incentive spending was $430 per vehicle higher than last September. Usually, he said, incentives are only about $100 higher or lower than the year before. "The business is as competitive as I've seen in my 32 years," LaNeve said during a conference call with analysts and media. "Everybody's trying to protect their share and, in spots, grow it." Among the sales tallies from automakers: — General Motors Co.'s sales fell less than 1 percent to 249,795. Buick sales jumped 14 percent thanks to strong sales of the new Envision small SUV and
Volkswagen cars for sale are on display on the lot of a VW dealership in Boulder, Colo. Yesterday, automakers release vehicle sales for September. (AP Photo) Cadillac sales rose 3 percent as the new XT5 SUV and CT6 sedan hit the market. But Chevrolet sales were flat and GMC sales fell 9 percent. — Ford Motor Co.'s sales fell 8 percent to 204,447. The company said a planned 36-percent cut in sales to low-profit rental car companies was partly to blame. Ford's car sales plummeted 21 percent compared to last September, led by a 39.5 percent decline for the subcompact Fiesta. F-
Series truck sales also fell 3 percent as Ford prepared to launch its new Super Duty trucks. Lincoln sales were up 1 percent. — Toyota Motor Co.'s sales rose 1.5 percent to 197,260. The company's car sales were down 9 percent. Sales of the hybrid Prius fell 23 percent, a victim of low gas prices. But SUV and truck sales were up 13 percent. — Fiat Chrysler Automobiles said its sales fell 1
percent to 192,883. Ram sales jumped 29 percent on strong sales of the Ram pickup and ProMaster van, but sales declined for the Chrysler, Jeep, Dodge, Fiat and Alfa brands. — Honda Motor Co.'s sales fell less than 1 percent to 133,655. Sales of Honda's new small SUV, the HR-V, were up 49 percent over last year, when it was just hitting the market, but the company's car sales fell 8 percent. Luxury Acura sales were down 13 percent.
US construction spending fell again in August WASHINGTON (AP) — U.S. builders trimmed spending on construction projects in August for a second straight month with housing, non-residential and government activity all seeing declines. Construction spending dropped 0.7 percent in August after a 0.3 percent slip in July, the Commerce Department reported Monday. It was the third decline in the past five months. Residential construction decreased 0.3 percent, while non-residential activity was down 0.4 percent. Spending
workers continue construction on a high-rise condominium project on Biscayne Boulevard, in downtown Miami. Yesterday, the Commerce Department reports on U.S. construction spending for August. (AP Photo)
MARKET REPORT MONDAY, 3 OCTOBER 2016
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,947.84 | CHG -0.04 | %CHG 0.00 | YTD 123.89 | YTD% 6.79 BISX LISTED & TRADED SECURITIES 52WK HI 4.25 17.43 9.09 3.50 4.70 0.18 8.30 8.50 6.10 10.60 15.50 2.72 1.60 5.80 9.00 11.00 8.26 6.90 12.25 11.00
52WK LOW 2.47 17.43 9.09 3.15 1.77 0.12 6.09 7.25 5.50 7.00 13.05 2.25 1.31 5.55 6.00 9.85 6.12 6.21 11.80 10.00
PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01
1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE
LAST CLOSE 4.06 15.85 9.09 3.50 1.96 0.12 6.47 8.50 5.83 10.44 14.00 2.32 1.53 5.80 8.78 10.95 8.26 6.61 11.93 10.00
CLOSE 4.06 15.85 9.09 3.50 1.96 0.12 6.47 8.50 5.83 10.44 14.00 2.27 1.53 5.80 8.78 10.95 8.26 6.61 11.93 10.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.11 100.00 100.00 100.00 10.00 1.01
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +
SYMBOL FBB17 FBB18 FBB22
LAST SALE 100.00 100.00 100.00
CLOSE 100.00 100.00 100.00
CHANGE 0.00 0.00 0.00
Bahamas Note 6.95 (2029) BGS: 2014-12-3Y BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y
BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330
115.04 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
115.43 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00
52WK LOW 100.00 100.00 100.00
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
VOLUME 130,000
100
88
VOLUME
EPS$ 0.304 1.351 1.086 0.220 -1.134 0.000 0.185 0.551 0.508 0.541 0.528 0.094 0.166 0.510 0.612 0.960 0.650 0.703 0.756 0.000
DIV$ 0.090 1.000 0.000 0.160 0.000 0.000 0.187 0.260 0.200 0.360 0.610 0.060 0.040 0.240 0.275 0.000 0.280 0.120 0.640 0.000
P/E 13.4 11.7 8.4 15.9 N/M N/M 35.0 15.4 11.5 19.3 26.5 24.1 9.2 11.4 14.3 11.4 12.7 9.4 15.8 0.0
YIELD 2.22% 6.31% 0.00% 4.57% 0.00% 0.00% 2.89% 3.06% 3.43% 3.45% 4.36% 2.64% 2.61% 4.14% 3.13% 0.00% 3.39% 1.82% 5.36% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%
INTEREST 7.00% 6.00% Prime + 1.75%
MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022
6.95% 4.00% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25%
20-Nov-2029 15-Dec-2017 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045
MUTUAL FUNDS 52WK HI 1.99 3.90 1.92 167.58 138.35 1.45 1.67 1.55 1.09 6.94 8.65 5.92 9.94 11.15 10.46
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.39 1.60 1.50 1.03 6.41 7.62 5.66 8.65 10.54 9.57
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
NAV 1.99 3.90 1.92 167.58 136.68 1.45 1.67 1.55 1.09 6.94 8.65 5.92 9.59 11.15 9.57
YTD% 12 MTH% 2.33% 4.05% 3.34% 6.09% 1.63% 2.99% 3.41% 5.18% 2.95% -0.58% 2.51% 3.84% 2.48% 4.47% 2.20% 3.79% 5.03% 3.89% 4.05% 8.28% 5.93% 13.53% 2.73% 4.73% 3.97% -3.53% 2.96% 4.33% -4.26% -6.22%
NAV Date 31-Jul-2016 31-Jul-2016 27-Jul-2016 30-Jun-2016 30-Jun-2016 31-Aug-2016 31-Aug-2016 31-Aug-2016 31-Aug-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016
MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225
on government projects fell 2 percent, dragged down by a sharp drop in activity at the state and local level. That has fallen to the lowest point since March 2014. Economists believe that the slowdown in construction will be temporary, with ultra-low interest rates and a growing economy prompting greater building activity in coming months. “While demand for construction remains robust, it is no longer growing like it was earlier this year,” said Ken Simonson, chief economist for the Associated General Contractors of America. Simonson said the building industry could get a welcome boost if government policymakers moved to upgrade “our aging infrastructure.” Construction spending totaled $1.14 trillion in August at a seasonally adjusted annual rate, down
0.3 percent from the level in August 2015. The strongest sector over the past year has been nonresidential activity, which is up 4.2 percent from a year ago, followed by residential construction, which has risen 1.4 percent. By contrast, total public construction is down 8.8 percent from the level 12 months ago, reflecting a squeeze on spending from efforts to control budget deficits at all levels of government. For August, the decline in home building reflected a 0.9 percent drop in the construction of single-family homes, which offset a 2.4 percent increase in apartment construction. In the non-residential categories, office building and spending on hotels were both up in August. Spending in the category that includes shopping centers declined.
NOTICE Pursuant to the provisions of Section 138 (4) (a), (b) and (c) of the International Business Companies Act, 2000, notice is hereby given that:(a) CAAVES POINT LTD. is in dissolution; (b) The date of commencement of the dissolution is the 12th day of September A.D., 2016 and (c) the Liquidator is C.B. Strategy Ltd., of Sassoon House, Shirley & Victoria Streets. C.B. Strategy Ltd. LIQUIDATOR
NOTICE
NOTICE is hereby given that DOLLY SARMA of Hudson Street, Blair Estate, 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 4th day of October, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that CUTHBERT HALL of P.O.Box N-217, 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 4th day of October, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
THE TRIBUNE
Tuesday, October 4, 2016, PAGE 7
b o dy a n d m i n d
The value of breastfeeding By Felicity Ingraham With research linking breastfeeding to better behaviour in adults, the Bahamas National Breastfeeding Association (BN BA) is putting its campaign to ensure more Bahamian babies are breastfed into high gear this week. Studies have indicated that breastfed babies are more calm and mild-mannered, having received special hormones and antibodies during their first months of life. For National Breastfeeding Week, the BNBA kicked off its events on Sunday, October 2, with a unique twist on the usual walkathon. The group hosted an “umbrellathon”, in which mothers, babies and BNBA supporters could walk with umbrellas shielding them from the sun. The only requirement, the umbrellas had to be decorated with themes that promote breastfeeding. Those umbrellas were judged for creativity at the end of the walk. The umbrellathon started at Akhepran International Academy on Bernard Road and ended at the Fox Hill Park, but not before stopping at St Anslem’s Church for a jingle competition. The jingles which were sung along the walk included phrases such as: “Breast is the best!” and “Breastfeed so your baby can succeed!” At the Fox Hill Park, Pastor David Adams, president of Telios Christian School, preached a spirited message to participants. He used scripture to show that God recognises the virtue of mothers, the importance of their womb, and the im-
National association kicks off week-long events with ‘umbrellathon’ portance of them suckling their children. He pointed out that every mammal on earth feeds its own babies and does not depend on another mammal to do it for them. Therefore, he said, women should stop depending on cows and formula to do for them what God naturally designed them to do. He also encouraged new mothers to eat healthy in order to set a good foundation for their child’s life. Carolyn Sweeting, the first mother to model on a poster for the BNBA more than three decades ago, also spoke to the participants, encouraging them to seek help from BNBA officials if they have any trouble breastfeeding. She said their nurses are highly trained and can provide the support and education necessary to ensure that more mothers are successful at breastfeeding. She called it an art that requires commitment and skill. Too often, she said, mothers give up because they do not have the necessary support. She added that formulas could never replace a mother’s milk. Nurse Linelle Thompson, education officer, handed out information pamphlets to men and women along the walk. During her address, Nurse Thompson said the reason the BNBA utilises a bow as its symbol – and not a ribbon or loop like many other organisations celebrating this October – is because “loops
are to indicate disease”. She said breastfeeding is not a disease, hence a bow is used. The bow, she said, symbolises the support of the family, especially the father, who represents the knot, or the keen supporter of the family. The gold colour, she said, indicates that breastfeeding is the “gold standard” for mothers all around the world. This year’s theme for National Breastfeeding Week is: “Breastfeeding: A Key to Sustainable Development”. The week of activities includes events at local Umbrellas decorated with pro-breastfeeding messages and images. clinics and radio show visits, and culminates with a BNBA banquet. This year’s banquet will be held in the Governor’s Ballroom of the British Colonial Hilton Hotel on Sunday, October 8, under the patronage of Minister of Transport and Aviation Glenys HannaMartin. The week of events is being organized by Nurse Trineka Hall, who announced the winners of the BNBA 2016 umbrellathon. Urban Renewal took home the overall trophy and a $200 cheque for their entries. Aunt Lily’s Daycare Centre took home second place and a $150 cheque. The BNBA offers classes at local clinics as well as private sessions to assist new mothers. Look for the BNBA on Facebook or contact Nurse Thompson at 565-0118 or Nurse Hall at 433-5013.
Former Director of Nursing Mary Johnson uses her homemade shaker as participants sing jingles during the “umbrellathon”.
‘Thairapy’ – It’s what the stylist prescribed By ALESHA CADET
Tribune Features Reporter
acadet@tribunemedia.net
This November will make two years since Eddia Thompson made the decision to dedicate her time and energy to bringing awareness of healthy hair to the Bahamas. “Thairapy 242” is the name of this movement which aims to provide avenues for Bahamians to learn about new healthy hair remedies and have access to quality hair care products. She wants Bahamians to understand that her company is here to provide much needed “thairapy”. Products offered at the homebased company, which is located at #59 Iguana Way in Bel-Air Estates, are hair growth vitamins for adults and kids, shampoos for both natural and relaxed hair, shampoos for kids, moisturising creams and sprays, and hair growth oils – all from the Mane Choice line. “In 2009, I decided to transition from relaxed hair to natural hair in order to grow healthier hair,” Ms Thompson told Tribune
Health. “This was of course one of the toughest and most courageous decisions I ever made because it required me to cut the majority of my hair off.” As she continued on her healthy hair quest, she researched and tried various products, calling the process the “most tedious and frustrating part” of her natural hair journey. And although Ms Thompson said she saw some improvement, she was not completely satisfied with her findings until coming across the Mane Choice products. She said the vitamins did not only aid in her healthy hair growth, they also boosted her immune system and improved the way her nails grew. The shampoos, she said, help maintain healthy hair growth by protecting against chemical and thermal damage, preventing shedding, breakage and tangling. After using the products for some time, she said she was thrilled with the progress her hair was making and could not keep the discovery to herself. Ms Thompson said it was at this time she realised she needed to
share her new obsession with others. The 25-year-old said there is no greater feeling than knowing that someone’s self-esteem has been boosted all due to her company and the products she provides.. She said Thairapy 242 has grown so much during the short time it has been in business and she can definitely see it getting bigger and better in the future. “My clients are always elated to share their stories with me, whether it’s growth progress from using the Manetabolism Plus vitamins or a testimony of how great the shampoo collections have their hair feeling and smelling. Feedback is always in the form of a happy, positive and appreciative message. I encourage each client though to express to me their thoughts on the products, their benefits and their reaction to them as the ultimate goal is to ensure they are getting the best out of the products Thairapy 242 provides,” said Ms Thompson. Her biggest inspirations, she said, are her parents, Edwin and Timolin Thompson. She said they taught her the importance
Eddia Thompson, founder of ‘Thairapy 242’
of working hard and pursuing her dreams, no matter the cost. “Personal health and well-being is very important and I feel like too many of us in the Bahamas take the situation lightly. More often than not we hear about cases of people being unhealthy, and what makes it even more disappointing is that most times it can be avoided simply by making better life choices. Good health has a lot to do with what we allow our bodies to take in and endure. The issue that caught my attention was the condition of a lot of our people’s hair. So many of us do not take the time to ensure that our bodies are getting the necessary nutrients for healthy hair growth to take place, and that is why I made it my business to introduce products and remedies that can definitely assist in a healthier, more beautiful and confident people here in the Bahamas,” she said. Ms Thompson said she recently also took part in the ‘Paint the Lanes Pink’ breast cancer awareness event and enjoyed explaining to other participants how important it is to take care of their hair.
Beat this! 22 Amazing facts about your heart In honour of World Heart Day (September 29), the Cleveland Clinic, which was recently ranked US News and World Report’s number one hospital for cardiology and heart surgery for the 22nd successive year, shares 22 amazing facts about your heart: • Stay in school – The more education you have, the lower your risk of heart disease. • Size matters – A normal heart valve is about the size of a half dollar. • Thank God this has changed! The first heart pacemakers plugged into a wall socket.
• Don’t worry, be happy – Happiness and a strong sense of vitality helps lower your risk of heart disease. • Holiday blues – The number of heart attacks peaks on Christmas Day, followed by Boxing Day and New Year’s Eve. • Baby beats – The first heart cells start to beat as early as four weeks gestation. • Holy scholar – The first “study” of the benefits of a vegetarian diet is found in the Bible’s Book of Daniel (600 BCE). • OK – that’s heavy – The blue whale has the largest heart, weighing over 1,500 pounds.
• Excuse me…oh, so sorry. – Modesty prompted the invention of the stethoscope. Before it existed, doctors had to press their ears directly to each patient’s chest. • Nothing new under the sun – Heart disease has been found in 3,000-yearold mummies. • Put your hand in your hand – Your heart is about the size of your two hands clasped together. • And the beat goes on – Your heart beats 100,000 times a day. • Get moving – Regular exercise is the single most important key to heart health. And it’s free!
• The No 1 threat – Heart disease is your greatest health threat (and is a greater danger than breast cancer in women and prostate cancer in men). • What’s that sound? The beating sound in the clap of
valve leaflets opening and closing. • 1.5 RPM – Each minute your heart pumps 1.5 gallons of blood. • Double pump – Your heart is a coordinated machine. The right side pumps
blood into your lungs, while the left side pumps it back into your body. • Can you guess which celebrities – Celebrities who’ve had open heart surgery in recent years include David Letterman, Bill Clinton, Barbara Walters, Arnold Schwarzenegger and Regis Philbin. • You’re the boss – You control your heart health through diet, exercise and managing stress. • Low cancer rate – Heart cancer is very rare, because heart cells stop dividing early in life • Women are faster – A woman’s average heartbeat is faster than a man’s by almost eight beats a minute • No generator needed – The heart has its own electrical supply and will continue to beat when separated from the body
PAGE 8, Tuesday, October 4, 2016
THE TRIBUNE
Why guys hate to train legs and why their goals suffer because of it By Ray Ferguson
L
et’s be honest, for a man legs are one of the hardest and most gruelling body parts to train intensely. And because men can go through their entire life not showing their legs, it’s the easiest training day to skip. Many men tend to focus on the “mirror muscles” like chest, arms and shoulders, and ultimately suffer overall because of it. Training legs has many benefits that go far beyond the scope of aesthetics. Let’s start with the overall symmetry dilemma. Guys, if your upper body is larger than your lower body, you are going to look disproportional. Walking around with a tank top and shorts will make you look top heavy; or do you really want to be the 180-pound ripped guy with a “thigh gap”? For an athletic performance, a bigger deadlift and a a squat clean (a composite lift consisting of a power clean followed by a front squat) will translate to running faster and jumping higher, and you will also strengthen you knee, hip and ankle joints from safe and proper leg training. How about burning fat and overall fat loss? Working your legs with compound and multi-joint movements, burns more fat that working arms, chest and shoulders combined. Not to mention the body’s hormonal response to working legs forces an increase in testosterone release that automatically aids to increasing the overall size of strength of the upper body. Yes, the “mirror muscles” benefit greatly from lower body training. The bigger the muscle worked, and the bigger the movement, the greater the testosterone hormonal response. As an added benefit, did you know that resistance training and weightbearing exercises are critical for the prevention and management of osteoporosis and arthritis? Exercises like front squats, calf-raises and stiff-legged dead lifts help to keep bones and joints healthy later in life, and if you have been diagnosed with arthritis or the like, consult with your doctor and a certified personal trainer before starting a routine.
Club One trainer Ray Ferguson shows exercises that work your legs and burn fat.
• Ray Ferguson is a certified personal trainer at Club One Fitness. His motto is: “If it does not challenge the body, it does not change the body.” He is also certified as a strength and conditioning specialist, in Tabata training, Ashtanga Vinyasa Yoga and in TRX training.
Skin care specialist urges extreme care with lotions, oils and soaps That lotion you think may be toning, plumping and softening your skin may actually be doing more harm than good. So says a respected skin care paramedical specialist who warns that some of the most common ingredients found in facial cleansers, lotions and creams could be dangerous, and in some cases, even cause cancer. “As women, we all want to look good,” said Raquel Sully, founder of the RaSu Concierge Spa, a service that takes massage therapy and skin care treatments to a patient or client’s home. “It starts from the time we are old enough to look into a mirror or gaze at a model in a magazine. Looking good is programmed into us, and as we age we tend to spend more and more trying to look young or younger than we are. We try wrinkle creams and body lotions and soaps that promise to make us as fresh and happy as the woman we see in the shower
on TV.” The problem is, Ms Sully said, many of the ingredients used in those creams and lotions are harmful and some have been known to be carcinogenic. And it’s not just the inexpensive products that contain them. “I could give you a list of 20 ingredients that are commonly found in some of the finest or most beautifully packaged products and every one of those ingredients will have one or more troubling side effects,” said Ms Sully, who holds several certifications in skin specialties and massage therapies, “Products like alcohol, which dries the skin, or disodium-EDTA, a chelating agent that makes cleansing products work more effectively but in studies has been shown to disrupt hormone function and can actually cause cell mutation.” Some skin care products contain the same ingredients used in pesticides. “Others use synthetic dyes which
Before using lotions or oils, check the ingredients for potentially harmful substances.
Raquel Sully, skin care specialist and owner of the new RaSu Concierge Spa. make can include colors or numbers like FD&C No 5 or what we know as yellow dye No 5. I urge every client to look at the list of ingredients and if they see sulfates, or propylene glycol or ethyl acetate, please do not use. Even a product as seemingly harmless as lanolin which comes from sheep can be dangerous
depending on whether where the sheep grazed was treated with fertilizer and DDT or Dioxan, both well-known carcinogens. The skin is the body’s largest organ,” she said. Ms Sully worked at several spas, including the world-class Mandara Spa at The Cove, Atlantis, prior to launching RaSu Concierge Spa this summer. “There were two reasons I wanted to go out on my own and to take the service of massage therapy and skin care to the client at their
home or wherever the client or patient is based,” she said. “The first reason was I wanted the emphasis to be on the sense of well-being and health, understanding that massage therapy is far more than luxury, but is part of building and maintaining wellness. It can be an important part of treating those with generalised pain disorder, diabetes or other circulatory challenges.” The second reason, she said, is to use only non-toxic products with no animal testing. She chose a line called
The brush and the brushing “It’s only a toothbrush, it can’t be that important.” This statement represents what many people say when speaking about selecting a toothbrush. What’s the big deal? Just go to the store, buy the colour you like, squirt some toothpaste on it, and brush with it. If this story ended here without consequences, it would be a good one. However, there is a “right way” with the “right tools” to do almost everything, and tooth brushing is included. Why must we examine the brush and the brushing? Answer: Because the two go together daily for most people. In short, the brush has to be proper, and the brushing has to be effective.
The brush A soft toothbrush is the only
“right tool” for brushing one’s teeth. Dentists and dental hygienists never speak about medium or hard toothbrushes. The reason is that medium and hard toothbrushes are never part of a dental health conversation. In my clinical experience, I have never seen healthy gums in any person who uses a medium or a hard toothbrush.
The brushing With a soft toothbrush in hand, children should be taught to continuously move the brush in a circular motion on the teeth. With a soft toothbrush in hand, adults should perform sulcular brushing (for example quick strokes just under the gum line) or swipe brushing (for example
brushing in one direction from the gums to the teeth). A “sawing” back and forth brushing motion should only be performed on the biting surfaces of the back teeth.
Brushing mistakes: 1. Brushing with a medium or hard toothbrush 2. Brushing with a “sawing” motion everywhere 3. Brushing teeth and not brushing gums 4. Skipping (missing) teeth surfaces while brushing 5. Brushing with worn out (old) toothbrush
Dr Sparkman Ferguson Registrar of the Bahamas Dental Council
6. Brushing without toothpaste.
Conclusion In spite of the continuous professional advice to persons recom-
Hylunia. The products cover all the types of care she provides – pre- and post-operative skin care, light chemical peels, anti-aging, HIV/AIDs training, medical camouflage make-up, microdermabrasion, manual lymphatic drainage and advanced holistic treatments. “Wellness is a journey,” said Ms Sully, “and I want to use my training, all the years of studying I have done, and my experience to make that journey as safe and valuable as possible.”
mending to them the use of soft brushes, many persons prefer the use of hard toothbrushes. The reasoning is somehow attached to the use of cleaning brushes used for household chores (harder brushes clean better). These “brushers” usually end up with conditions such as bleeding gum diseases and/or painful toothbrush abrasions – like holes on teeth created with a hard toothbrush). Both conditions can improve by using a soft toothbrush. Brushing with a prescribed technique is equally as important as using the right toothbrush. Incorrect techniques often affect the gums and usually lead to the interruption of gum architecture and gum texture. Coupled with this is the creation of toothbrush abrasions. Advice: Always choose to use a soft toothbrush, and employ a proper brushing technique to go along with it.
THE TRIBUNE
Tuesday, October 4, 2016, PAGE 9
Kimberly Marshall has ‘Androsian Dreams’ By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net
small hotels. This would have saved the hotels the hassle of ordering the products oversees,” she said. Then, Ms Marshall said, she had another idea – to manufacture bed linen by using the famous Androsia print. “I thought we can not only sell to the local market but our products can be sold worldwide, and that can further put us on the map. Since then I started putting together all the pieces and came up with a catchy name Androsian Dreams by K. My company was born,” she said. While the company does not have its official launch until December, Ms Marshall has been working on her Androsia creations for more than a year now. “I like the fact that this is different; it is Bahamian. And I enjoy creating the Androsian Dreams by K – bed linen because our
E
ntrepreneur Kimberly Marshall is on a mission to prove that big dreams can come from small places. As the owner of the small manufacturing company Androsian Dreams by K, which specialises in creating Androsia print bed linen, she hopes to create top-ofthe-line products that can be found in hotel rooms and homes all over the world. Ms Marshall was born in Freeport, Grand Bahama, where she spent most of her childhood years. Since coming to Nassau, she has had many exciting jobs that have allowed her to expand on her knowledge and which have opened the doors for better opportunities. “The one that really stood out that I felt made an everlasting impression on me was the Nassau Airport Development Company (NAD). I was afforded the opportunity to start along with this new company that was about to change the airport here in Nassau forever. Their job was to manage and operate the airport and provide opportunities for Bahamians. My role was an IT and e-records administrator, a position I held for eight years. Since then I attained many certificates that gave me a better insight into this amazing career. I now run and operate a small cafeteria,” she told Tribune Weekend. In addition to running the cafeteria, Ms Marshall has turned her attention to building the Androsian Dreams by K brand. Her goal is to officially launch the company in December. For right now, she is laying the groundwork and pursuing a large clientele. “I started thinking creatively and wanted more and more to pursue my passion of becoming my own boss. I wanted to bring something different to the Bahamas and fill Kimberly Marshall hopes to supply hotels that niche that I felt we were lacking. My worldwide with her Androsia print bed linens. idea was to be unique and different from all the other businesses in the Bahamas. I thought of bed linen and how wonderful it would be to become the local supplier that would deliver the products for our large and
Gratitude grows You know this word well. Chances are you’ve heard or read over and over in the last few years. People talk about it, and it’s all the rage right now, kind of like how yoga, gluten-free, dairy-free, GMO are. It’s that other ‘G’ word – gratitude – and it makes some of us very anxious. I, like some of you, have read several self-help motivational books that ooze the word gratitude. I’ve watched “The Secret” part 1 and part 2, and attempted to read the second book. OK, I did read the second book and it was quite process-orientated. I like structure, so having a guide on how to practice gratitude was good for me. But what if you’re not like me. What if you feel overwhelmed by the endless to-do lists that life throws your way. I get it; I have a very full life too. Honestly, even I couldn’t keep up with the daily routine of writing 10 thankful thoughts fol-
Bun In The Oven
Bianca Carter lowed by sentences of why I was thankful for them. And yes, I did find myself cheating-myself. Obviously you’re meant to do these gratitude exercises with intent and conviction, but I must admit, with
a schedule like mine, I was rushing it and then did it every other day, which then turned into once and week, and now I don’t do it at all. Don’t get me wrong, I have daily moments of gratitude where I verbalise my thanks to the world around me, and most importantly, to the one above. However, I can’t help but wonder if there may be other ways that we could exercise our desire to be a little more thankful in a negative and less gracious world. Could it be that the first step to being in harmony with the practice of gratitude is to let go of perfection and this all-ornothing way of thinking? Life doesn’t work in such rigid ways; it’s includes many grey areas. So if I couldn’t, like many others, maintain this everyday written diary of gratitude, maybe practicing a single thankful thought or topic for a day would do the same for our lives and hearts. People show and practice living a life with gratitude in many different ways. Take Lori Portka for example, she built an art exhibition around being thankful for 100 people in her life; it’s called
Are you proactively prepared? I’ve heard it said that preparation is the key to real success. From internet millionaires to championship athletes, all great achievers understand and employ the power of preparation. Being proactively prepared then takes this notion of active preparation to a higher level. In a nutshell, being proactively prepared speaks to your capacity to anticipate and arrange relevant activities in advance in order to improve your chance for success. This may sound all nice and easy but before you can be proactively prepared you must first ask yourself this: are you a proactive individual? This is where the rubber meets the road. Most people live in the state of being reactive rather than proactive. You cannot be proactively prepared if you run on the soundtrack of being reactive. Reaction to life challenges is a choice You can react or you can respond. The proactive individual learns how to effectively respond. They know that to win at their life, they must bring their “A” game. It is in bringing your “A” game that you are better able to hit a home run for your life. Speaking of your “A” game, I believe the “A” in proactive is about adopting a certain attitude towards build-
Michelle Miller Motivationals
by looking for patterns, but also foresee changes in those patterns. The other key point here is, do not drop the ball by allowing yourself to become complacent. Always think things through and look creatively at ways you can be prepared in advance.
2. Address
Michelle M Miller ing a proactively success life. Here are my five attitudes and abilities that anyone can develop to be more proactively prepared :
1. Anticipate First things first, being proactive means you must first develop foresight. The proactive individual is seldom caught by surprise. Develop a sense of anticipation; learning to anticipate problems and situations ahead of time. Focus on understanding how things work
As proactive individuals foresee potential obstacles, they build their capacity to address them before those perceived obstacles become real roadblocks. By directly addressing potential challenges, you avoid pitfalls that may derail your progress. Don’t allow yourself to become overwhelmed by feelings of being powerless. You do in fact have the power to act, and when you directly address your challenges you develop more confidence to face them head on before they become more problematic.
3. Arrange Proactive people make the necessary arrangements by organising and planning. No matter what it is you want to achieve, you must make the necessary arrangements. The goal of
“My goal is to be able to create top-of-the-line bed linen that can be seen all over the world, and be able to supply and meet the demand. I would like to make Androsian Dreams by K a household name.” bed and breakfasts and small hotels on the Family Islands can benefit from this by outfitting their beds with our products that will attract tourists,” she said. The company offers twin and queen sheet sets, twin and queen comforter sets, bed skirts and an assortment of accent pillows. “I feel the Androsia design is unique because it is made on Andros island and it speaks about the Bahamas. It is designed with the Bahamas national bird, fish, trees, and some colours that represent our national flag. This material stands out because of it’s design and attractive colours, and that’s what makes it unique,” she said. “My goal is to be able to create top-ofthe-line bed linen that can be seen all over the world, and be able to supply and meet the demand. I would like to make Androsian Dreams by K a household name.” “100 Thank You’s”. Her inspirational and highly visual form of love and gratitude are really beautiful. So whatever suits you best, I encourage you to start small and have a plan of what works for you and in your daily life; it’s very much a practice, and as practicing goes, you get better with time. After having a weekend filled with stories of gratitude and love, I thought it would be appropriate to share these thoughts on the topic and to let you know that we don’t have to be perfect in our quest to be better and do better. I’m going to start my gracious engines again, and this time I won’t allow myself to fall completely off the wagon. I’m going to reconnect in a bite-sized way to my centre and start practicing gratitude daily, but in the way that works for me and my life, and I encourage you to do the same. Let’s make this a 30-day challenge. Add it to the list, because I know some of you are already committed to a new wave of thinking and doing something for 30-days, as is the trend these days. This challenge will be all up to being proactive is to determine in advance what needs to be arranged in order for you to get the results you seek. By making such arrangements, you position yourself to make the best decisions. Bigger still, this notion of making arrangements is usually associated only with the outer aspects of our lives, however, you must also focus on mentally arranging your thinking. Whether you know it or not, you have the power to arrange your thoughts towards what you want or what you don’t want. Ask yourself what it is that you really want and what you need to do differently in order to make that happen.
4. Attitude Proactive people understand that their attitude matters. Building an attitude of gratitude is essential to being proactively happy and engaged. Assessing and developing the right attitude remains a high priority on their agenda. Attitude is indeed everything. You may be surprised to note that the attitude you adopt literally makes or breaks how well you manage your life. A positive attitude enables you to look for the good and muster the motivation to get through adversities. You have the choice of developing a winning attitude that goes well with your intentions to be proactive.
you though; you make the rules and lay out the plan. Follow it as you see fit in the smallest, most significant ways, and I’m sure you’ll start to see real change in the best, most needed parts of your life. And the best part of this is that it’s your plan and you’re the boss, so do it your way. Maybe if we can get each other motivated in this way we can elevate ourselves and vibrations to a whole new and exciting level. Gratitude grows, and I have no problem catching the gratitude bug, do you? Love and hugs! • Bianca Carter is a certified lactation counsellor and founder of Bun in the Oven. For more information, e-mail her at info@ babybunintheoven. com. Follow BITO on Facebook at babybunintheoven, and check out the BITO Blog every Monday and Thursday at http://babybunintheoven.com.
5. Act The very essence of being proactive means taking timely, effective and responsible action. This means you must make the decision to act now. The challenge here is that you must first understand what motivates you to act. There is no action without motivation. As such, it is not the action we take but the reasons why we take such actions. To be proactive means taking a broader and deeper view of your reasons – your motivations. In so doing, you don’t just react, instead you respond. By responding proactively, you begin to take responsible action. Finally, leader to leader, remember it is not the adversities you face, but how well you respond to them that matters most. Learn to respect the process of proactive preparation. When you focus your attention towards being proactively prepared, you are better able to live an empowered life. Yes, you can do it. What do you think? Please send your comments to coaching242@yahoo.com call or 429-6770. • Michelle M Miller is a certified life coach, communication and leadership expert. Visit www. michellemmiller.com; mail can be sent to PO Box CB-13060.