11222016 business

TUESDAY, NOVEMBER 22, 2016

business@tribunemedia.net

$4.10 Arawak Homes: Two decade Govt battle is major ‘injustice’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Arawak Homes’ chairman yesterday said the company’s two decade-plus battle with the Government over compulsorily acquired land epitomised the “injustice” suffered by thousands of Bahamians.

Sir Franklyn Wilson told Tribune Business that “millions and millions, and millions and millions of dollars” are owed by the Government to Bahamians whose land it has acquired for so-called ‘public good’ or purposes.

Speaking after the Privy Council yesterday delivered a mixed verdict, as far as Arawak Homes is concerned, on its claim for compensation for land acquired for two schools and the Charles W Saunders Highway, Sir Franklyn

Sir Franklyn: Epitomises ‘millions’ due to Bahamians Many ‘don’t have ability’ to fight on acquired land Developer gets mixed ruling on Pinewood fight pledged that the developer will fight on.

“This is from 1995 until now,” he told Tribune Business of the company’s fight to obtain what it considers a just financial settlement from the Government.

“If there’s one book in me, it will be a story of the challenges with land title in this country. If there’s one See pg b4

The Christie administration’s much-trumpeted tax crackdown has exposed its “desperation” over the strained fiscal position, the Democratic National Alliance’s (DNA) leader yesterday charging: “The Government is broke.”

Branville McCartney told See pg b5

Bran: Timing shows ‘dire straits’; Treasury ‘is broke’ Says Govt again waits ‘until gun pointed at them’ Asks if those with right connections also targeted

Govt told: ‘Cut inefficient taxes across the board’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Government was yesterday urged by a leading governance reformer to reduce “inefficient taxes across the board” so that it could make room for potential Value-Added Tax (VAT) rate increases.

Robert Myers, a former Organisation for Responsible Governance (ORG) principal, told Tribune Business that VAT’s relative ‘success’ to-date showed that the Government needed to focus on this tax as its principal revenue earner.

With the $852 million

Governance reformer urges duty, property tax cuts And focus on ‘efficient taxes’ and VAT rate rise Cut duty 4-5% pts for every 1% pt VAT increase collected during VAT’s first 18 months exceeding even the private sector’s expectations, Mr Myers See pg b5

$4.14

$4.14

VAT gives Bahamas unwanted world lead

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Bahamian businesses have suffered the largest worldwide increase in the time they are forced to spend on tax compliance as a result of Value-Added Tax’s (VAT) implementation, a World Bank report has found.

Its ‘Paying Taxes 2017’ report, compiled by the Price-

Nation top for increase in tax compliance time And joint leader for increase in tax payments Chamber chief urges focus on refunds, appeals

waterhouseCoopers (PwC) accounting firm, rated the Bahamas as a ‘world beater’ or world leader when it came to the extra time its companies now have to devote to tax calculation, administration and payment.

And VAT was also responsible for the Bahamas being ranked as joint world leader, out of 190 nations, when it came to the greatest increase in the number of tax payments it has to

make.

The ‘Paying Taxes 2017’ report gave special mention to the Bahamas on a number of occasions, pointing out that this nation and its VAT were responsible for “a slight increase in the time to comply” for the Central American and Caribbean region as a whole.

As previously revealed by Tribune Business, the Bahamas slumped from 24th See pg b6

Tax delinquents warned to brace for ‘shock treatment’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Govt tax crackdown exposes ‘desperation’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

$4.14

Gowon Bowe

Major tax defaulters were yesterday warned to brace for “shock treatment” from the Government’s recently-unveiled tax crackdown, the Bahamas Chamber of Commerce’s (BCCEC) chairman giving his “strong support” to the initiative.

Gowon Bowe told Trib-

une Business that provided the Department of Inland Revenue took a “balanced and comprehensive approach” to its enforcement offensive, it would move “the pendulum in the right direction” of a tax compliance culture.

“It’s certainly going to be something of a shock treatment,” he said. “I think persons have taken a lax approach in terms of See pg b4

Crackdown swings ‘pendulum’ in right direction Chamber chief gives ‘strong support’ for action But can’t be ‘dictatorship-type initiative’

PAGE 2, Tuesday, November 22, 2016

THE TRIBUNE

Water Corporation signs $5.6m Andros contract The Water and Sewerage Corporation (WSC) has signed a $5.6 million contract with Island Site Development to extend and improve water supply to South Andros.

The contract signing followed a seven-month tender process that allowed multiple companies to bid on the work.

“This project will bring muchneeded service improvements to an area that has been calling for relief for decades,” said WSC general manager, Glen Laville.

“We are very pleased to be able to get this work started, as well as the other components of this loan programme, to improve quality of service for our Family Islands.”

The project is part of a recentlyapproved $41 million programme that is partially funded by a $28 million loan from the Caribbean

Development Bank (CDB) and the Government.

The initiative covers more than 100 miles of water mains, and over 3,000 service connections, and will also include water improvements to the islands of Cat Island, Crooked Island, Eleuthera, Long Island, San Salvador and some New Providence areas.

The South Andros contract will provide for the installation of more than 20 miles of water mains and 600 service connections, improving supply to communities from Congo Town to Mars Bay. Water supply will be provided by a desalination plant under a separate contract. This will be put out to bid prior to completion of the water works. The South Andros works are expected to take around 25 months to complete,

with emphasis being placed on a high quality, climate-resilient installation.

Leslie Miller, the WSC’s chairman, said: “The Corporation is happy to have the funding available to award this contract and have the work completed.

“When completed, the residents of South Andros - from Congo Town to Mars Bay - will see a huge improvement in the quality of water.”

Another contract award is anticipated shortly for work on San Salvador, while a bid for engineering services will be awarded before the end of November 2016.

The winning bidder will provide construction supervision and other related technical services under the CDB loan programme.

Standing from L to R: Robert Deal, WSC deputy general manager; Glen Laville, WSC general manager; Leslie Miller, WSC chairman; John Mosko, director of Island Site Development; and Leslie Hutchinson, WSC project co-ordinator.

Seated L to R: Ayla Isaacs, project manager/engineer at WSC; and Chrisna Smith, project engineer at ISD. Photos courtesy of BVS for Barefoot Marketing

THE TRIBUNE

Tuesday, November 22, 2016, PAGE 3

Atlantis breach exposes risk for Bahamas firms

Atlantis yesterday warned that a data security breach “may have compromised” guest payment information over a seven-month period to October 22, 2016.

It revealed that those impacted were guests who may have used debit and credit cards at the resort’s food and beverage and retail locations from March 9, 2016, until that date.

Atlantis said in a statement: “The resort began investigating unusual activity after receiving reports from its credit card processor.

“The resort immediately began working with thirdparty forensic experts to investigate these reports, and to identify any signs of compromise on its computer systems.

“On October 21, 2016, the resort discovered suspicious files on its computer systems that indicated a potential compromise of customers’ credit and debit card data for some credit and debit cards used at food and beverage and retail locations at the resort.”

The episode highlights, and brings home to Bahamian businesses of all sizes, just how vulnerable their IT systems are to breaches that may compromise vital data on themselves and their customers.

Atlantis said the problem had now been rectified, and added: “Since that time, the resort has been working with third-party forensic investigators to determine what happened and what information was affected.

“The resort has confirmed that malware may have captured data from some credit

and debit cards used at food and beverage and retail locations at the resort.

“The resort has removed the malware at issue to contain this incident, and implemented additional procedures in an effort to prevent any further unauthorised access to customers’ credit and debit card information.”

Atlantis conceded that the malware may have captured credit and debit card data from cards.

It said the information at risk included the card number, expiration date, CVV and, in some instances, cardholder name. It did not compromise customers’ social security numbers or PIN numbers.

“The resort takes the security of our customers’ information extremely seriously, and we apologise for the inconvenience this incident may have caused our customers,” Howard C. Karawan, president and managing director of Atlantis, said.

“We continue to work with third-party forensic investigators to ensure the security of our systems on behalf of our customers, and would like to take this opportunity to remind customers to remain vigilant against fraud by reviewing their financial account statements regularly and reporting any suspicious activity.”

Atlantis said credit and debit cards used to make or pay for hotel reservations, or purchases made by guests who charged their food and beverage or retail purchases back to their room, were not affected.

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All ‘milestones’ come Aliv for mobile player New operator claims ‘best network in Caribbean’

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas’ second mobile operator said yesterday it had met all “milestones and obligations” for cellular coverage and infrastructure rollout as required by its license, its sales and marketing head arguing it has “the best network in the Caribbean”.

NewCo 2015 unveiled six retail locations on New Providence for its Aliv brand, with vice-president of sales and marketing, Johnny Ingle, telling Tribune Business the company employs more than 150 Bahamians.

“Every dollar spent at an Aliv retail store stays here in the Bahamas. We are a 100 per cent, Bahamian-owned business,” said Mr Ingle, a former Digicel executive.

“Our expectations are very high.

From the investment that has gone in in terms of financial and human re-

sources, we expect the Bahamian public to bring their choice to us because we have listened to them.

“We will only grow because we have built our business on the information we received from the people. We took our advice and guidance from months of research. People want a network that works, a better data experience.

They are sick of dropped calls and not understanding what they are paying

for.”

The new mobile provider was charged with achieving 99 per cent network population coverage in New Providence, and 80 per cent population coverage in Grand Bahama (Freeport), within three months of its license award on July 1, 2016.

“We have an obligation to provide See pg b3

Political rivals spar on BTC select committee

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A Cabinet minister yesterday moved a parliamentary motion to create a select committee that will probe the the Bahamas Telecommunications Company’s (BTC) 2011 privatisation.

Shane Gibson, minister of labour and national insurance, described the committee as “critical” to determining the financial merits of the deal that saw a 51 per cent majority BTC stake sold to Cable & Wireless Communications (CWC).

He highlighted BTC’s legacy pension plan deficit, noting that at the date of privatisation it had a sur-

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plus but, by the end of 2012, it was running a deficit of some $35 million.

Under the terms of the deal, the legacy pension plan was to be closed to new entrants, who would be placed into a new one sponsored by BTC. The Government was then supposed to take responsibility for ‘filling the hole’.

“The endowment was never made. BTC’s pension by the end of 2012 was running a deficit of some $35 million,” Mr Gibson said.

“That has now ballooned to just under $100 million.

We have not taken into consideration the downsizing last year. They are now having a review done to see the impact on that $100 million, which means it was already a net giveaway of BTC.”

The Ingraham administration sold a 51 per cent controlling interest in BTC for around $206 million.

“After the FNM sold BTC, what we did get? That is what the committee will seek to find out,” said Mr Gibson.

“Money in the bank grew from $44.4 million in 2001 to $135 million in 2007, and it was as high as $170 million in 2007.”

He added that CWC’s financials revealed it had met $63 million of ‘goodwill’ money in BTC’s bank account.

Free National Movement (FNM) leader, Dr Hubert Minnis, pushed back against suggestions that the Ingraham administration had undersold BTC. “The profits that BTC made between 2001 and

2007 was only as a result of the right-sizing process that the FNM had commenced.

Prior to that it was a negative value,” said Dr Minnis.

FNM deputy leader and opposition finance spokesman, K Peter Turnquest, argued that the sale of BTC had been transparent and done for fair market value in light of two independent valuations.

Mr Turnquest described the motion for the establishment of a select committee as “clearly partisan, political and an abuse of power.”

He accused the Christie administration of seeking to wage a political war “on the people’s dime”, suggesting that the BTC deal probe was a merely a distraction.

PAGE 4, Tuesday, November 22, 2016

Tax delinquents warned to brace for ‘shock treatment’ From pg B1 enforcement and discipline for granted.

“What is going to come as a shock, if they are balanced and comprehensive in their enforcement, is that this can move the pendulum in the right direction by holding all taxpayers to account for monies they should be remitting.”

Mr Bowe’s and the Chamber’s strong endorsement will provide a major boost for the Ministry of Finance’s tax crackdown, which will be enforced by a 32-person unit formed from Department of Inland Revenue and Customs personnel.

They will target 600 businesses, and 5,000 property owners, in the first phase of an enforcement/compliance offensive that is designed to yield an extra $40-$80 million for the Public Treasury within six to 12 months.

The targeted businesses, said to represent 5 per cent of all licensed companies in the Bahamas, are those identified by the Ministry of Finance/Inland Revenue as having “the largest apparent discrepancies” between their Business License payments, Value-Added Tax (VAT) filings and Customs reports.

The Government will also send “courier” demands for extra real property tax payments to 5,000 homeowners in wealthy and upper middle class communities, who it believes are “under-paying” their due liabilities for a variety of reasons.

The Ministry of Finance argued that its compliance offensive would improve fairness and equity in the Bahamian taxation system by ensuring that all taxpayers “pay their fair share”.

It emphasised, in particular, that its efforts were

Arawak Homes: Two decade Govt battle is major ‘injustice’ From pg B1 book in me, that’s what it will be about.

“In this particular case, it’s a story of very, very high injustice, and there’s no single Government that has all the blame for it. It’s very, very disappointing.”

The land involved in Arawak Homes’ case, which was acquired via three separate moves in the 1990s and 2001, was used to construct the Cleveland Eneas and Sadie Curtis Primary Schools, plus part of the Charles W. Saunders Highway that links

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designed to create “a level playing field” for all Bahamas-based businesses, ensuring that those evading due taxes did not obtain an undue competitive advantage and further burden their tax-compliant rivals.

Backing these goals, Mr Bowe said the Ministry of Finance and Department of Inland Revenue had given the Chamber forewarning of their intentions and allowed it to provide feedback.

Noting that the Chamber planned to issue a communication to its members on the enforcement drive, Mr Bowe called for both sides - the Government and taxpayers - to adopt “an open mind” approach.

“Are these legitimate differences?” he asked in relation to VAT/Business Licence fee discrepancies, “and if not, how are you going to deal with the rule breakers?

“There might be slight differences between what is included in the VAT and Business Licence filings, but those factors should be

easily identifiable and, once they’ve acted in a balanced manner, payers who are delinquent should be held to account.

“This is one of the mechanisms we strongly support to level the playing field.”

Mr Bowe said tax-compliant Bahamian businesses were frequently having to shoulder an even greater burden on behalf of counterparts who failed to meet their obligations to the Public Treasury.

He added that ensuring all taxpayers met their obligation would create a broader tax base, helping to ensure rates remained low and minimising the system’s complexity.

Mr Bowe told Tribune Business that the Department of Inland Revenue’s strategy was to achieve “the biggest bang for the buck”, or greatest return per enforcement dollar, by concentrating on the largest, wealthiest taxpayers shown as having the greatest “discrepancies”.

This, he explained, would likely result in commercial

properties, and residential properties in high-end and upper middle class communities, being targeted by the real property tax element of the Government’s initiative.

That is targeting taxpayers who may be “underpaying” due to outdated property valuations, the properties being misclassified, or they are not registered in the property tax database.

“We expect the Government to focus on the biggest bang for the buck, but also to ensure that it is not a discriminatory exercise as they work their way through the system,” Mr Bowe told Tribune Business.

He added that enforcement actions taken against high-profile targets would “lead to better behaviour to avoid being sanctioned, fined or penalised” by other taxpayers.

Mr Bowe also urged the Government to avoid “a dictatorship type initiative”, adding: “As long as there’s a fair and equitable appeals process, and as long as we get the right answer, not an

autocratic one, we’ll be on the path to success.”

The Ministry of Finance and Department of Inland Revenue are focusing on four key taxes: Business Licences, VAT, real property tax and Customs duties.

New Customs procedures are being created, and new container examination procedures implemented.

“Those that reveal material discrepancies between actual content and what is declared will result in the importer of the goods paying the proper Customs duty, as well as a fine for under-reporting, where the misreporting was substantial,” the Ministry of Finance said.

“Finally, another work stream will involve the completion of VAT and Customs post-clearance audits.

This activity involves conducting audits of businesses that analysis suggest may be inaccurately reporting on their VAT, Business License and/or Customs Duty filings.”

Pinewood Gardens to Sea Breeze Estates.

Pointing out that the Government was supposed to provide speedy compensation under the Acquisition of Land Act for those whose properties/land it compulsorily acquired, Sir Franklyn said: “We have literally spent millions and millions of dollars over the last two decades in pursuit of this matter.

“We’re not alone. If you look at the number of people around this island whose land was expropriated..... the New Providence Road Improvement Project.”

He continued: “I recently ran into a realtor who happened to own a very good piece of land, and what the Government did to him was sinful.

“The FNM government was the government at the time, and he can’t get a nickel from the PLP government since. It’s a real challenge, this question of expropriation of land. It’s very, very difficult.

“Millions and millions, and millions and millions of dollars, are owed to people who don’t have the capacity or inclination to fight as we have done.”

Sir Franklyn said attorneys were still assessing yesterday’s Privy Council judgment and its implications for Arawak Homes’

case, but he added: “We live to fight another day, and there are aspects of the ruling that please us “We didn’t get all we wanted, but we got enough to tell us we have to fight on. We’ll probably have to fight another 10 years, but we ain’t going to stop; I have that in my will.

“When all is said and done, my book will come out, and I will tell people just how bad this is regardless of the party in power.”

Arawak Homes had been forced to fight multiple legal battles on numerous fronts since it acquired its 3,000 lots, and two other tracts of land, in the Pinewood Gardens area in 1983.

Apart from the ongoing battle with the Government, Arawak Homes has fought of f numerous competing claims to the land - a situation that stems largely from the perpetration of a major land swindle on unsuspecting Bahamians by groups who obtained title certificates via fraud.

Separately, unable to agree a suitable compensation sum, Arawak Homes and the Government have been embroiled in litigation since 2004, asking the judicial system to determine what taxpayers should pay the developer.

Then-Supreme Court Justice Neville Adderley

ruled in October 2012 that Arawak Homes should receive a total $4.4 million, but the developer appealed the verdict to the Court of Appeal.

The appeal court granted Arawak Homes a partial victory by increasing the compensation award for the Cleveland Eneas land more than five-fold - from $160,000 to a collective $848,320.

Yet, while overturning the assessed ‘market value’ for the Sadie Curtis and Charles W. Saunders land, the Court of Appeal sent that issue back to the Supreme Court for re-determination.

And Arawak Homes was still unable to collect a single cent of even the Cleveland Eneas award, the Court of Appeal upholding Justice Adderley’s verdict that its compensation remain in an interest-bearing escrow account.

This was required because competing claims to Arawak Homes’ ownership of the land acquired by the Government, which will have to be resolved by another Supreme Court judge.

At the Privy Council, Arawak Homes challenged the compensation granted by the Supreme Court for both its residential and commercial lots.

In the case of the for-

mer, the developer argued that then-Justice Adderley failed to take into account the proper value of the land based on Arawak Homes’ profitable sales record.

As for the commercial properties, Arawak Homes said this was based on “an untested assertion that it was prone to flooding” something its own evidence had rejected.

However, the Privy Council ruled that the appeal on the residential land was “doomed to fail”, while the valuation provided by Arawak Homes’ own appraiser, Wilshire Bethell, was “out of line” with the company’s 1995 figure for the commercial plot and “unsupported by market evidence of any kind”.

There was better news, though, for Arawak Homes on other issues as the Privy Council ruled that its claim for 193 lots taken for connecting roads to Charles W. Saunders should be referred back to the Supreme Court for assessment.

It also found that the issue of how Arawak Homes’ compensation is “to be held”, and whether payments can be made to the developer “in the interim” until the matter is settled, also should be dealt with by the Supreme Court.

setta Street in Palmdale; The Shoppes at Carmichael; Southwest Plaza, Carmichael Road; and Old Fort Bay Town Centre.

“For Aliv, retail is about relationships,” Mr Ingle said. “Our people love meeting our new customers - and at this point, everybody is a new customer - and we love hearing how we can make you happy.

Our retail locations are the places where we can serve you, and excellent customer

service is the foundation of our company.”

All six stores will be open six days a week, Monday through Saturday.

“We want to be available at our customers’ convenience,” Mr Ingle explained.

“At all of our locations, customers can experience the devices we will be offering in a wide range of cost options that will suit just about everybody, starting as low as $59.”

Mr Ingle said customers will be able to choose the phone and service package they want at a low-cost bundle rate.

“Our plans include unlimited seven-day and 30day options to suit whatever makes sense for your life,” Mr Ingle said.

“There are no contracts - we want you to stay with us because you want to, not because of a contract.”

All ‘milestones’ come Aliv for mobile player From pg B3 99 per cent population coverage within three years.

We have met all milestones to date, and our obligations,” Mr Ingle said.

“We open our retail footprint on November 23. We then move to Grand Baha-

ma where we open a retail footprint. We then move on to Abaco and Eleuthera. In early 2017 we will continue our roll-out.”

Aliv’s first six retail locations on New Providence will open tomorrow. They are: Carey’s Shopping Centre on Prince Charles Drive; The Mall at Marathon; Ro-

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Tuesday, November 22, 2016, PAGE 5

Bahamian attorney addresses Caribbean resort insolvencies A Bahamian attorney was this month invited to speak on an American Bankruptcy Institute panel discussion that focused on Caribbean resort insolvencies, including the $3.5 billion Baha Mar project.

Sophia Rolle-Kapousouzoglou, a Lennox Paton partner, was part of the panel that sat at Davis Polk & Wardwell’s conference centre in midtown Manhattan on November 14, 2016.

The cross-border insolvency theme attracted judges, corporate counsel, managing partners, heads of various law firms and policy makers from several jurisdictions.

Representatives of Bloomberg and other members of the international press were also in attendance. The programme featured speakers from several nations discussing today’s most relevant cross-border cases and topics.

Mrs Rolle-Kapousouzoglou’s panel discussed the impact the economic downturn has had on resort properties in the Caribbean, including the Baha Mar property.

The panel explored the unique challenges faced by creditors and other stakeholders involved in resort insolvencies in the Caribbean region. It included Robert D. Drain, of the US Bankruptcy Court in New York, who participated in

the legal discussion.

Jamaica’s former senator and minister of justice, Mark Golding ,also spoke on a separate panel concerning ‘Restructuring Jamaica’ as a nation.

Two other panels considered jurisdictional issues in cross-border fraud; energy and resources in Latin and South America; and the Atlantic Railway-Canada/US, Montreal and Maine.

Mrs Rolle-Kapousouzoglou said: “It was an honour

to have been requested to speak on such an esteemed panel amongst senior practitioners.

“The discussions held were enlightening and garnered high interest concerning initiatives to facilitate further international cooperation in cross-border insolvencies.

“In the field of insolvency, the Bahamas has now sought to facilitate greater cross-border assistance, having now designated leg-

islation enabling recognition to 142 relevant foreign countries to whom the Supreme Court can grant assistance in cross-border insolvencies.”

Mrs Rolle-Kapousouzoglou has more than 10 years of legal experience in litigation, insolvency and commercial law. She is a Fellow of INSOL International, and has been named to Global Restructuring Review’s ‘40 Under 40’.

flow difficulties in relation to the public sector.

Mr McCartney, meanwhile, added that the tax crackdown had fuelled further questions about the fate of the $852 million in VAT revenues that the Government has extracted from Bahamian consumers and businesses over the past 18 months.

Pointing to the fraud, abuse and wasteful spending habits identified in repeated reports by the Auditor General, along with the failure of various

departments to collect due revenues, the DNA leader charged: “The Government is desperate.

“The economy is in dire straits, the Government’s finances are in dire straits.

This is a prime example talking about a tax crackdown six months before the election - that shows the Government has no choice.”

Mr McCartney, who was a member of the former Ingraham administration for three-plus years before leaving, saying he felt stifled, suggested that the Bahamas was again paying the price for politically-led decision-making by successive governments.

“The Government, past and present, only does things they think is best to win the next election as opposed to doing what is best for the country,” he told Tribune Business.

“This is a prime example.

They’re reactive, not proactive. Only when the guns are pointed at them do they act.”

Mr McCartney said the tax enforcement drive also showed that none of the Christie administration’s turnaround promises had come to fruition, and he questioned whether the Department of Inland Revenue would act fairly and equitably in terms of the alleged ‘defaulters’ it is targeting.

“The Government must not cherry pick who they

collect their taxes from,” he told Tribune Business.

“Many of those officials within government fall into that category.

“Does this mean, in typical PLP style, that special interests within the PLP will be exempt? There are those in the PLP, and those special interest groups, that owe a significant amount of money to the Treasury.

“We’ve also seen where the PLP have placed in high positions, as heads of departments and parts of ministries, those who owed the Government hundreds of thousands of dollars, including the current Governor-General.”

That is a reference to the real property tax owed by Dame Marguerite Pindling before she took the post at Government House, a sum that was promptly paid following extensive media coverage.

Yet Mr McCartney added: “Is this government, when they talk about cracking down, does this apply to them as well?

“They should be the first ones to act and settle by paying their bills, or the Government must come and crack down on those who have failed to pay their tax while sitting in high places; some of whom are still there.”

erly bedded in and revenue streams predictable.

With VAT’s two-year anniversary fast approaching, this is yet another fiscal promise the Christie administration has yet to fulfill, with no indication of when it might be acted upon.

The private sector, though, has long argued that Business Licence fees represent one of the most inequitable forms of Bahamian taxation, given that they are calculated as a percentage of gross turnover rather than profits.

This has resulted in many companies paying more in Business Licence fees than they earn in annual profits.

And it has resulted in high turnover, low profit margin businesses such as food

stores and gas stations, plus those impacted by price controls, paying considerably more than low volume, high profit margin companies.

Mr Myers’ suggestion that VAT is now the Government’s most efficient tax also reflects the fact that responsibility for collecting and administering it has been transferred from the public to the private sector.

The 6,000-plus VAT registrants are now effectively ‘vassal tax collectors’ for the Government, with the requirement to produce a ‘paper trail’ capable of being audited acting as a selfenforcement, or self-policing, mechanism to ensure compliance.

The contrast in compli-

ance, and revenue performance, between VAT and those taxes the Government is directly responsible for enforcing and collecting, is stark, hence Mr Myers’ suggestion that the Bahamas focus on VAT and minimise its reliance on the likes of Customs duties and real property tax.

The Government will likely be forced to increase the VAT rate in any event to compensate for the reduction in Customs duties/ border tariffs that will be imposed by the Bahamas entering into rules-based, liberalised trading regimes, such as full membership in the World Trade Organisation (WTO).

Govt tax crackdown exposes ‘desperation’ From pg B1 Tribune Business that no government, faced with a general election that is just six months away, would be talking publicly about extracting more taxes from individual Bahamians and businesses unless the public finances were “in dire straits”.

Arguing that the clampdown on major tax defaulters and delinquents was something successive administrations should have done years ago, Mr McCartney said the Christie administration had again waited “until the gun is pointed at them” to act.

The DNA leader, in common with many sceptical Bahamians, also questioned whether the Department of Inland Revenue would act equitably and fairly in its compliance drive, and also target defaulters with the ‘right’ family and political connections.

“The Government has gone out to do what it should have been doing from day one; collecting due taxes,” Mr McCartney told Tribune Business.

“They want to hit 600 business owners and 5,000 property owners, but the reality is this is what they ought to have been doing.

The fact they’re saying they

are having a tax crackdown now shows the Government has been delinquent in collection; completely delinquent.”

The Ministry of Finance on Sunday night unveiled its plans to target 600 businesses, and 5,000 property owners, in the first phase of an enforcement/compliance offensive that is designed to yield an extra $40-$80 million for the Public Treasury within six to 12 months.

The targeted businesses, said to represent 5 per cent of all licensed companies in the Bahamas, are those identified by the Ministry of Finance/Inland Revenue as having “the largest apparent discrepancies” between their Business License payments, Value-Added Tax (VAT) filings and Customs reports.

The Government will also send “courier” demands for extra real property tax payments to 5,000 homeowners in wealthy and upper middle class communities, who it believes are “under-paying” their due liabilities for a variety of reasons.

“It tells you it’s almost to the extent and point of desperation. The Government is broke; it has no money,” Mr McCartney told Tribune Business of the Government’s tax crackdown.

Branville McCartney “No party in government, six months out from an election, will be speaking about collecting taxes at this stage.

No party would think about talking taxes, collecting taxes from its citizens, six months out. That tells you what a desperate state our economy and the Government’s finances are in.”

While there is no evidence that the Government is “broke”, in the sense that it is unable to pay its recurrent bills, Tribune Business has heard repeated talk of delayed payments and cash

Govt told: ‘Cut inefficient taxes across the board’ From pg B1 said the relatively high compliance levels should encourage the Government to move away from “less efficient taxes”.

He suggested that in return for increasing the existing 7.5 per cent VAT rate by a single percentage point, the Government slash existing Customs duty rates by a blanket 4-5 per cent, so that the tax burden on Bahamian consumers and businesses was not increased.

“I think you are seeing the effects of a compliant tax structure with VAT,” Mr Myers told Tribune Business, “in that they are receiving considerably more money than even we had thought in the Coalition for Responsible Taxation (CRT), because it is some-

what a self-policing tax, in contrast to real property tax and duty.

“We know from the research we were doing that compliance on those taxes alone was under 50 per cent, which means an awful lot of money was being evaded or stolen.

“What ought to happen is a reduction in inefficient taxes across the board, and then an increase in the efficient taxes, which is VAT,” the ORG principal added.

“The question is: If you raise the VAT rate by 1 per cent, how much do you drop duty by? With these levels of compliance, you could theoretically drop duty by 4-5 percentage points for every 1 percentage point VAT increase, which would be beneficial to the consumer and the tax structure

Robert Myers overall.”

Many businesses and individual Bahamians will likely be extremely nervous about any suggestion of a VAT rate increase, but Mr Myers’ comments also resonate for several other reasons.

The Government, in its 2013 VAT ‘White Paper’, promised to reduce Business Licence fees to a flat $100 ‘across the board’ once the new tax was prop-

PAGE 6, Tuesday, November 22, 2016

VAT gives Bahamas unwanted world lead From pg B1 to 95th in the world when it came to the ‘ease of paying taxes’, due almost entirely to VAT’s introduction - and the extra compliance and payment burden imposed on its businesses.

Yet the ‘Paying Taxes’ report reveals that the Bahamas is now a world leader, albeit only for this report, in some other unwanted indicators.

“The time to comply increased most in the Baha-

mas - by 175 hours to 233 hours it said. “A VAT system was introduced, which requires monthly filing for our case study company.

“Even though the tax was introduced with electronic systems, as it is new, there is inevitably a transition period while businesses understand and get used to the new system.

“Additionally, in the Bahamas there was an increase in the time required to comply with social se-

curity contributions. The contributions are now paid and filed monthly, but more time is spent re-entering data as the online form does not permit information to be saved and rolled forward from month to month.”

And the Bahamas also led the world when it came to the largest year-over-year increase in tax payments, due to the monthly filings and payments imposed on the largest VAT registrants.

“The most significant increases in the number of payments sub-indicator were in the Bahamas and Croatia, which both had increases of 12,” the ‘Paying Taxes’ report said. “In the

Bahamas, the change was due to the introduction of a VAT system.”

Gowon Bowe, the Chamber of Commerce’s chairman, and a former PwC (Bahamas) accountant and partner, told Tribune Business that this nation now needed to focus on improving the efficiency of VAT and its wider tax system to improve its rankings.

While VAT’s initial implementation had been relatively smooth, Mr Bowe said the Bahamas now had to concentrate on providing properly-functioning refund and appeals processes for disgruntled tax-paying registrants.

“One of the best ways to ensure a high ranking is through the efficiency of the tax system, allowing for the ease of payment, ease of refunds and ease of appeals,” Mr Bowe told Tribune Business.

“A large part of the process is on the ease of appeals and refund process, which is not yet set in the right direction.”

Mr Bowe added that the Bahamas’ ranking will also improve if all taxpayers “pay their fair share”, which would reduce administration and compliance costs for all.

On the positive side, the

THE TRIBUNE Bahamas was shown as still having the third lowest business tax burden in the Central American and Caribbean region at 33.8 per cent, with only Belize and Trinidad & Tobago lower at 31.1 per cent and 32.2 per cent.

And the 31 tax payments made by the average Bahamian business were also below the Central American and Caribbean average.

VAT, though, has placed the Bahamas in the region’s bottom half due to the 233 hours that businesses now spend on tax compliance, above the 210 hour average.

For Trump and GOP, ‘Obamacare’ repeal is complex and risky WASHINGTON (AP) — Here's the idea: Swiftly pass a repeal of President Barack Obama's health care law, perhaps soon enough for Donald Trump to sign it the day he takes the presidential oath. Then approve legislation restructuring the nation's huge and convoluted health care system — despite Republican divisions, Democratic opposition and millions of jittery constituents.

What could go wrong?

With Republicans controlling the White House and Congress in January, they're faced with delivering on their long-time promise to repeal and replace "Obamacare." Here are hurdles they'll face:

core conservative supporters to repeal Obama's 2010 health care law — and fast.

After all, Congress already sent Obama a repeal bill last January, which he vetoed, and many GOP voters will see no reason for delays this time.

But there probably won't be anything fast about this process, which is likely to take at least months.

While the replacement effort is underway, Republicans will risk aggravating up to 30 million people who are covered by the law or buy policies with prices affected by its insurance marketplace. Democrats will be sure to accuse the GOP of threatening the health care of millions.

SPEED VS DELIBERATION Trump and congressional Republicans will be under intense pressure from their

A SOLUTION Nothing's been decided, but here's one likely scenario:(backslash).

The new Congress, which

convenes Jan. 3, tries to quickly approve legislation repealing Obama's health care law, maybe completing it by Trump's Jan. 20 inauguration or soon after. But the repeal would not take effect until the future, perhaps a year later, to give lawmakers time to fashion a replacement. The version Obama vetoed had a two-year delay.

Seemingly acknowledging that two-step process, Vice President-elect Mike Pence said Sunday on "Fox News Sunday" that Trump "wants to focus out of the gate on repealing Obamacare and beginning the process of replacing Obamacare."

Because Republicans will control the Senate by just 5248, Congress will first have to approve special budget procedures to prevent Democrats from stopping repeal legislation by filibuster. Billkilling filibusters require 60 votes to end.

But those special rules would apply only to items that affect the federal budget. Republicans, for example, would need a simple Senate majority to end IRS penalties against people who don't buy insurance but would still need 60 votes — requiring Democratic support — for other changes such as raising limits on older people's premiums.

House Budget Committee Chairman Tom Price, R-Ga., says that will restrain Republicans' ability to ram a "lock, stock and barrel" repeal through Congress.

GOP RISKS One GOP danger: Congress and Trump might repeal Obama's law, but while they're laboring on a replacement, nervous insurance companies begin pulling out of markets and raising premiums. Insurers have been doing that under Obama, but now it would occur under a Republican government.

Another hazard: Congress' work could spill into the 2018 campaign season, when the entire House and a third of the Senate face re-election.

Republicans will grow increasingly timid about anything that might anger voters.

"We want to be the res-

President-elect Donald Trump speaks during a rally in New York. Here’s the idea: Swiftly pass a repeal of President Barack Obama’s health care law, perhaps so Donald Trump can sign it the day he takes the presidential oath. Then approve new legislation restructuring the nation’s huge and convoluted health care system despite Republican divisions, Democratic opposition and millions of jittery constituents. (AP Photo) cue party instead of the party that pushes millions of Americans who are hanging by the edge of their fingernails over the cliff," says Sen. Lamar Alexander, RTenn., who chairs the Senate Health committee.

GOP PATHWAYS Virtually all Republicans want to get rid of the health law's mandates that individuals buy coverage or risk IRS fines, and that large em-

NOTICE RK GLOBAL LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) RK GLOBAL LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said company commenced on the 17th November, 2016 when the Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas Dated this 22nd day of November, A. D. 2016 _________________________________ Bukit Merah Limited Liquidator

ployers insure workers.

They also want to erase taxes on higher-earning people and the health care sector. And they'd like to retain parts of the law guaranteeing coverage for people with pre-existing medical problems and keeping children under age 26 on family plans.

Unifying Republicans much beyond that is a work in progress.

Trump's health care views have varied and lack detail.

His campaign website touts tax deductions for health insurance premiums and permitting policies to be sold across state lines. He'd also revamp Medicaid, which subsidizes health coverage for low-income people, directing fixed amounts of money to states and letting them structure benefits.

House Speaker Paul Ryan, R-Wis., last summer unveiled an outline of the House GOP's solution, though it lacked cost estimates and details. It would provide tax credits, impose taxes on the most generous employer-provided health care plans, revamp Medicaid and let Medicare beneficiaries pick private plans instead of today's fee-forservice coverage.

Senate Finance Committee Chairman Orrin Hatch, R-Utah, has also advanced a framework relying heavily on tax credits.

THE TRIBUNE

Tuesday, November 22, 2016, PAGE 7

Puerto Rico governor defies new federal control board SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor on Monday challenged a federal control board created by Congress just months ago to oversee the finances of the U.S. territory and help pull it out of an economic crisis.

In what could be a test of the board’s powers, Gov. Alejandro Garcia Padilla announced he would not submit an amended fiscal plan — the board’s first request of the island’s leader.

He said he believes new austerity measures would only worsen the crisis and insisted the board restructure nearly $70 billion in public debt that he has said is unpayable.

“It’s not right, and it’s not necessary,” he said of austerity measures. “That would push us into an economic death spiral. It would mark a return to policies of depression.”

Board members who met in Puerto Rico for the first time last week said the 10year plan issued last month needs to be amended, in

part because it is not realistic and assumes federal financial help when none is likely. They requested that Garcia submit an amended plan by Dec. 15 so they could approve a final version by Jan. 31.

It was not immediately clear what happens now. A board spokesman said he was checking on whether board members would comment on Garcia’s announcement. A U.S. financial rescue package that created the board says the board itself can develop a fiscal plan and submit it to Puerto Rico’s governor and legislature if the governor fails to do it himself.

Garcia steps down as governor Jan. 1, but he has promised to reject any austerity measures while still in power.

“While I’m governor of Puerto Rico, I will oppose any ... measures such as laying off public employees, reducing the pensions of our retirees and leaving the University of Puerto Rico unprotected,” he said.

The board previously

Puerto Rico Gov. Alejandro Javier Garcia Padilla testifying on Capitol Hill in Washington. Padilla is challenging a federal control board created to oversee the finances of the U.S. territory and help pull it out of an economic crisis, saying yesterday new austerity measures would only worsen the crisis and insisting that the board restructure nearly $70 billion in public debt that he has said is unpayable. (AP Photo)

requested that some of Puerto Rico’s most heavily indebted agencies submit their own fiscal plans, something that had never been required before. Gova pharmacist holds a package of EpiPens epinephrine autoinjector, a Mylan product, in Sacramento, Calif. Pharmaceutical company Mylan is refusing to testify at a congressional hearing next week on a settlement between the company and the Justice Department over its life-saving EpiPen. (AP Photo)

EpiPen manufacturer will be a no-show at Senate hearing WASHINGTON (AP) — Pharmaceutical company Mylan is refusing to testify at a congressional hearing next week on a settlement between the company and the Justice Department over its life-saving EpiPen. In a letter to the Senate Judiciary Committee, an attorney for Mylan said company executives wouldn't testify at the Nov. 30 hearing because the settlement is a pending matter and the Justice Department would also not be attending. Mylan has agreed to pay $465 million to settle allegations that it overbilled Medicaid for EpiPen. At is-

sue was whether the product should have been classified as generic under a Medicaid program.

In September, a House panel grilled Mylan CEO Heather Bresch about the skyrocketing cost of the devices, which many parents rely on when their children have allergic reactions. The list price of EpiPens had grown to $608 for a twopack, an increase of more than 500 percent since 2007.

In nearly four hours of questioning, Bresch often declined to answer directly many questions about the company's finances and profits, infuriating lawmak-

The Board of Directors of Fidelity Bank (Bahamas) Limited is pleased to notify all shareholders that a dividend of $0.20 per ordinary share has been declared to be paid on November 30, 2016 to all shareholders of record as of November 28, 2016 and not November 23, 2016 as stated in the Notice published in The Tribune on November 21, 2016.

N O T I C E

MITSOURI LIMITED

____________________________________

Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 11th day of November, 2016.

Delano Aranha Liquidator of MITSOURI LIMITED

ers. She defended the company's business practices and signaled there were no plans to lower prices.

Mylan has said it will begin selling its generic version of EpiPen for $300 for a pair, a move that will still bring the company tens of millions of dollars in revenue while helping retain market share against current and future brand-name and generic competition.

Sen. Charles Grassley, R-Iowa, chairman of the committee, said he would continue to investigate what happened, saying taxpayers have paid — and may still be paying — more for EpiPen than they have to.

“This happened because either the agencies in charge dropped the ball, the company gamed the system, or both,” Grassley said.

ernment officials said at the board’s meeting Friday that the agencies, including Puerto Rico’s utility companies, would submit their plans.

During that meeting, board member Jose Gonzalez said Puerto Rico’s government needs to set priorities.

“Not everything is an essential service,” he said.

“It’s an incredibly delicate balance between fiscal adjustment and economic growth ... We’ll try to get the balance right.”

The board had requested the opinion of U.S. Treasury Secretary Jack Lew on the territory’s fiscal plan. He said in a letter before Friday’s meeting that the plan should promote economic growth and allow Puerto Rico to achieve a sustainable debt level, among other things.

He said that one part of the plan lacked detail and clarity and that a required formal debt sustainability analysis was needed, adding that the government should not rely solely on austerity measures.

“As we have emphasized from the beginning of Puerto Rico’s crisis, austerity alone is a self-defeating remedy,” Lew wrote.

With Puerto Rico in a decade-long economic slump, Garcia’s administration has taken measures such as increasing utility rates and imposing new taxes to help generate more government revenue.

Despite those measures, the island’s government has already defaulted on nearly $1.4 billion in bond payments since August 2015. It also owes $1.5 billion to government suppliers as it continues to delay vendor payments amid the economic crisis, which has prompted more than 250,000 people to move from the island to the U.S. mainland in recent years.

Garcia has warned the government will run out of money by February if a debt moratorium which expires that month is not extended.

The moratorium has so far shielded Puerto Rico from numerous lawsuits filed by creditors seeking to recover the money they invested in Puerto Rico bonds.

PAGE 8, Tuesday, November 22, 2016

THE TRIBUNE

US stock indexes bust records as oil prices jump NEW YORK (AP) — Major U.S. stock indexes rose to record highs on Monday, led by big gains in energy companies as the price of crude oil moved sharply higher, which is positive news for the longstruggling energy sector.

Investors also applauded several corporate deals, and technology companies, which have been lagging the market in recent weeks, posted solid gains. Makers of basic materials and utility companies also climbed.

The price of oil jumped 4 percent ahead of a meeting of OPEC countries, who collectively produce more than a third of the world’s oil. OPEC has agreed on the outlines of a deal to reduce production in an attempt to support flagging oil prices, which are still far lower than they were two years ago. That would in turn lift energy company profits.

Stocks reached all-time highs over the summer and have built on those gains since the election. On Monday the Dow Jones industrial average, Standard & Poor’s 500, and Nasdaq composite all set records.

So did the Russell 2000, an

Specialists David Haubner, left, and Anthony Rinaldi work on the floor of the New York Stock Exchange, yesterday. U.S. stocks are rising in early trading as the price of oil jumps and energy companies move higher, keeping indexes at record highs. (AP Photo) index of smaller companies, and the S&P’s small- and mid-size company indexes.

The last time all those indexes set records on the same day was Dec. 31, 1999, according to Ryan Detrick, senior market strategist for LPL Financial.

The Dow rose 88.76 points, or 0.5 percent, to

NOTICE

NOTICE is hereby given that DIANA AURELHOMME of Carib Road off Mackey Street,P.O. Box CR-54802 Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

18,956.69. The S&P 500 climbed 16.28 points, or 0.7 percent, to 2,198.18. The Nasdaq composite jumped 47.35 points, or 0.9 percent, to 5,368.86.

Benchmark U.S. crude oil rose to its highest price this month. It gained $1.80, or 3.9 percent, to $47.49 a barrel while Brent crude, the international standard, rose $2.04, or 4.4 percent, to $48.90 a barrel in London.

That led to gains for energy companies. Marathon Oil added 86 cents, or 5.5 percent, to $16.48 and Exxon Mobil added $1.21, or 1.4 percent, to $86.49.

OPEC representatives will meet in Vienna on Nov. 30. They have agreed to preliminary terms of a deal that will trim oil production, but the details remain

to be determined. Quincy Krosby, market strategist at Prudential Financial, said investors are encouraged by the effort, but she doesn’t think a deal, if one happens, will do much to lead to sustainably higher oil prices.

"There’s nothing to suggest the agreement’s going to hold," she said. "When all is said and done, supply and demand will ultimately dictate the price."

Meat producer Tyson Foods tumbled $9.76, or 14.5 percent, to $57.60. The company’s fourth-quarter profit and sales fell far short of Wall Street’s forecasts as Tyson’s chicken business struggled. The company also said CEO Donnie Smith will step down at the end of this year, and com-

NOTICE

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

NOTICE is hereby given that DESIR BENEDICT of #53 Flemming Road, Freeport, Grand Bahama, Bahama 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 22nd day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

The Public is hereby advised that I, Merrissa Pinder of #68 E Marley Drive, Freeport, Grand Bahama, Bahamas mother of ALIRESSE CAMILLE BROWN intend to change my child’s name to ALIRESSE CAMILLE PINDER. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742 Nassau Bahamas no later than thirty (30) days after the date of the publication of this notice.

MARKET REPORT MONDAY, 21 NOVEMBER 2016

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

pany president Tom Hayes will replace him.

Competitor Hormel Foods lost 64 cents, or 1.8 percent, to $34.94.

Small-company stocks have surged since the election. The Russell 2000 has risen for 12 days in a row.

Technology stocks also made substantial gains.

They have lagged the market since the election after very strong performance over the summer. Facebook rose $4.75, or 4.1 percent, to $121.77 while online payments company PayPal advanced 55 cents, or 1.4 percent, to $40.63 and Apple picked up $1.69, or 1.5 percent, to $111.75.

Identity theft and fraud protection company LifeLock jumped $3.06, or 14.7 percent, to $23.81 after security software maker Symantec agreed to buy the company for $2.3 billion.

The deal values LifeLock at $24 a share. Symantec picked up 77 cents, or 3.2 percent, to $24.52, a sign investors approve of the purchase.

Sunoco Logistics agreed to buy Energy Transfer Partners in an all-stock deal worth about $20 billion. Both companies are involved in the Dakota Access oil pipeline, a project that’s been the subject of protests for months. A portion of that pipeline would pump oil under Lake Oahe, a reservoir in North Dakota, and the local Standing Rock Sioux tribe says it fears a leak could contaminate the drinking water on its reservation. The tribe also says the pipeline could disturb sacred sites.

Both companies traded lower after the deal was

announced, as they won’t distribute as much cash to shareholders after combining. Energy Transfer Partners lost $2.85, or 7.2 percent, to $36.52 and Sunoco Logistics skidded $1.72, or 6.6 percent, to $24.47. Energy Transfer Equity, the general partner of Energy Transfer Partners, picked up 63 cents, or 3.6 percent, to $17.92.

Gold inched up $1.10 to $1,209.80 an ounce. Silver lost 10 cents to $16.52 an ounce. Copper climbed 5 cents, or 1.9 percent, to $2.52 a pound.

The dollar slipped after trading at 13-year highs last week. The euro rose to $1.0612 from $1.0599. The dollar rose to 111.07 yen from 110.63 yen.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.32 percent from 2.35 percent.

That helped utility stocks.

They stocks tend to do better when bond yields fall because investors seeking income buy them for their big dividends.

In other energy trading, wholesale gasoline gained 6 cents, or 4.3 percent, to $1.40 a gallon. Heating oil rose 7 cents, or 4.6 percent, to $1.52 per gallon. Natural gas rose 11 cents, or 4 percent, to $2.95 per 1,000 cubic feet.

France’s CAC-40 index rose 0.6 percent while the DAX of Germany picked up 0.2 percent. The FTSE 100 index in Britain rose less than 0.1 percent. The Nikkei 225 of Japan rose 0.8 percent. South Korea’s Kospi dipped 0.4 percent and the Hang Seng in Hong Kong edged up less than 0.1 percent.

PERFORA GROUP LTD. Company No. 1704115 (In Voluntary Liquidation)

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that PERFORA GROUP LTD. is in voluntary liquidation. The voluntary liquidation commenced on 16th November, 2016 and RADIM SERVIT of Pflugstrasse 10/12, 9490 Vaduz, Principality of Liechtenstein has been appointed as the Sole Liquidator.

BISX ALL SHARE INDEX: CLOSE 1,935.55 | CHG 0.04 | %CHG 0.00 | YTD 111.60 | YTD% 6.12 BISX LISTED & TRADED SECURITIES 52WK HI 4.25 17.43 9.09 3.50 4.70 0.18 8.28 8.50 6.10 10.60 15.50 2.72 1.60 5.82 9.00 11.00 8.50 6.90 12.25 11.00

52WK LOW 2.50 17.43 8.19 3.50 1.77 0.12 5.50 8.05 5.50 7.66 13.05 2.18 1.31 5.60 6.60 8.56 6.12 6.23 11.81 10.00

PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00

900.00 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 5.60 8.50 5.83 10.49 13.98 2.22 1.55 5.82 8.78 10.74 8.50 6.61 11.93 10.00

CLOSE 4.06 15.85 9.09 3.50 1.96 0.12 5.60 8.50 5.83 10.49 13.98 2.26 1.55 5.82 8.78 10.74 8.50 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 0.04 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 Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

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 BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

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

110.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

110.41 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

E J K L M N

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) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

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 30.3 15.4 11.5 19.4 26.5 24.0 9.3 11.4 14.3 11.2 13.1 9.4 15.8 0.0

YIELD 2.22% 6.31% 0.00% 4.57% 0.00% 0.00% 3.34% 3.06% 3.43% 3.43% 4.36% 2.65% 2.58% 4.12% 3.13% 0.00% 3.29% 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% 3.50% 3.88% 4.25%

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

MUTUAL FUNDS 52WK HI 2.01 3.91 1.93 169.70 140.34 1.45 1.67 1.56 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 1.40 1.61 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 2.01 3.90 1.93 169.70 140.34 1.45 1.67 1.56 1.09 6.94 8.65 5.92 9.59 11.15 9.57

YTD% 12 MTH% 3.11% 4.17% 3.28% 4.34% 2.07% 2.93% 4.73% 5.64% 5.70% 7.66% 2.86% 3.86% 2.64% 3.93% 2.51% 3.63% 5.44% 4.48% 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 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-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

Dated this 16th day of November, 2016 Sgd. RADIM SERVIT Voluntary Liquidator

ARENARIA DEVELOPMENT S.A. Company No. 252097 (In Voluntary Liquidation)

NOTICE is hereby given pursuant to Section 204 (1) (b) of the BVI Business Companies Act, 2004 that ARENARIA DEVELOPMENT S.A. is in voluntary liquidation. The voluntary liquidation commenced on 14th November, 2016 and MARTINA STEIGER of Gässli 1, 7203 Trimmis, Switzerland has been appointed as the Sole Liquidator.

Dated this 14th day of November, 2016 Sgd. MARTINA STEIGER Voluntary Liquidator DIANTHUS INVESTMENT S.A. Company No. 252098 (In Voluntary Liquidation)

NOTICE is hereby given pursuant to Section 204 (1) (b) of the BVI Business Companies Act, 2004 that DIANTHUS INVESTMENT S.A. is in voluntary liquidation. The voluntary liquidation commenced on 14th November, 2016 and MARTINA STEIGER of Gässli 1, 7203 Trimmis, Switzerland has been appointed as the Sole Liquidator.

Dated this 14th day of November, 2016 Sgd. MARTINA STEIGER Voluntary Liquidator

THE TRIBUNE

Tuesday, November 22, 2016, PAGE 9

b o dy an d m in d

‘Movember’ changes the face of men’s health

By ALESHA CADET

Tribune Features Reporter

acadet@tribunemedia.net

I

T MIGHT appear to be the latest trend in male grooming but is, in fact, an international charitable initiative which many Bahamian men are embracing by taking on the “Movember” challenge backed by Rotary Clubs of The Bahamas West and Tribune Radio.

The annual event is celebrated worldwide during the month of November encouraging men to grow moustaches and beards in effort to raise awareness of men’s health issues, including prostate cancer.

For Tim Ingraham, Assistant Governor for Rotary Clubs of the Bahamas West, being diagnosed with prostate cancer earlier this year made “Movember” more urgent and personal.

“I was able to have surgery to have it removed but too many of our men ignore their health issues and they would have signs of problems and don’t bother to get them checked because it is a macho thing. Especially with prostate cancer, men are usually afraid of the ‘finger’, the digital rectal examination,” said Mr Ingraham.

The sudden and unfamiliar moustache and beard growth generates questions and conversations surrounding men’s health, Mr Ingraham said. He

believes prostate cancer is one of the leading causes of death among Bahamian men but it is also very treatable if they are check their health fairly early on.

“We found that even before we started this year, there were a lot of Bahamian men who were already doing the moustache growth and growing the beards during the month. We tried to harness all of that and move forward with the effort as well. We hope that ‘Movember’ becomes an annual event but we also want to keep it ongoing all year long in effort to educate on things like our local circumstance as it relates to statistics. In the United States the average age for men being diagnosed with prostate cancer is 62 whereas

Mind the gap - don’t lose your teeth MANY challenges occur in the oral cavity throughout the adult life of a person, two of which are inextricably linked and continue to wreak havoc in the mouths of many.

They are the loss of permanent teeth the failure to replace permanent teeth.

There is no mystery involved in the use of the term “permanent teeth”. It is actually self explanatory. But for thoroughness, I’d like to further emphasise that permanent teeth should be considered so, as they were intended to stay healthy and remain in the mouth for a lifetime. Sometimes, through accident or through disease, a permanent tooth or a group of permanent teeth are lost from the mouth. This is always a tragic situation, but can easily be

Dr Sparkman Ferguson Registrar of the Bahamas Dental Council rectified.

When one tooth is lost from the mouth, it causes a chain reaction that most people are not aware

of. This is because the end result can take several years to manifest itself.

With the loss of a single tooth, here’s what happens: 1 Neighbouring teeth begin to move (drift) in an effort to close the gap.

2 As the neighbouring teeth move, they can develop gum disease and tooth decay.

3 Abnormal chewing actions develop to compensate for the missing tooth.

4 Eventually, more teeth will be lost.

These reasons should cause us all to not want to ever lose a tooth.

Accidents, however, are unpredictible and losing permanent teeeth in this way is sometimes unavoidable. Conversely, losing teeth because of disease is within

in the Bahamas the age is 52.

This is about making sure men understand the risks,” said Mr Ingraham.

It was during her seven-year stay in Toronto, Canada, that 100 Jamz radio personality JJ Mckenzie became aware of the ‘Movember’ movement. Her male co-workers grew their beards only for the month of November to encourage people to donate to the cause.

JJ is delighted that Radio House can utilise the platforms of their five stations in this way because there is a need for men’s health awareness in the community.

“We have the audience to educate and get the information our control and highly preventable.

The only thing worse than losing permanent teeth is failure to repalce them after they are lost.

The normal human mouth is designed to function optimally when all its original teeth are present.

Fortunately, a permanent tooth which is missing because of accident or disease can be replaced and return the mouth to a normal state.

People often fool themselves into thinking that their mouths are exactly the same, even after losing several permanent teeth.

It should be obvious that this is not the case. No mouth is ever the same again once teeth are lost and gaps remain.

These are replacement facts: 1 Dental replacement teeth are important in order to regain the original function of the mouth.

Dental replacement teeth prevent neighbouring teeth from moving, return good looks and aesthetics

out there so we need to use it in a positive way. Everyone is affected by cancer in this country and it is a leading cause of death for both men and women. We don’t want to see our friends and family pass away from such a horrific disease so whatever we can do to help we will,” she told Tribune Health.

Readers can look forward to what organisers are calling a “shave party” on December 2 at the Bahamian Brewery on Nassau Street to wind up ‘Movember’. “Bearded” 100 Jamz deejays and personalities will be on set to host a live broadcast.

Funds raised in the ‘Movember’ initiative will assist with treatment and testing for men’s health issues in the Bahamas. and improve chewing .

2 Dental replacement teeth can be in the form of dental bridges, dental implants, partial dentures or full dentures.

3 Dental replacement teeth can be expensive depending on the quality of the replacements. However, the least expensive replacement still offers the benefit of oral health protections that are inevitably far better than ignoring the condition.

People ought to not accept sporting an empty mouth, or acccept gaps throughout the mouth because of missing teeth. The ultimate price of losing more teeth awaits such neglectful behaviour.

A workable solution awaits every type of mouth gap known.

People with this challenge are encouraged to consult a dental professional and replace missing teeth. These replacements close the gaps and reduce the risk of more teeth being lost.

Melt that booty THE MAIN reason the microwave is so popular is that it allows us to warm up and eat food in a short amount of time and without all the hassle of preparing something over the stove.

With your time so precious here is a butt workout that can be done in the privacy of your home - at any time - and all you need is 10 minutes.

These two exercises are guaranteed to get the booty cooking and those glute muscles tightened, and it is called the “Booty Melt” – two exercises, three sets and repetitions for each leg.

The fire hydrant

Ray Ferguson Personal trainer Club One the midline of the body.

1 Position yourself on your hands and knees on the ground. This will be your starting position.

3 Pause at the top of the motion, and then slowly return to the starting position.

2 Keeping the knee in a bent position, abduct the femur, moving your knee away from

4 Perform this slowly for a number of repetitions, and repeat on the other side.

Glute kickbacks 1 Kneel on the floor or an exercise mat and bend at the waist with your arms extended in front of you (perpendicular to the torso) in order to get into a kneeling push-up position but with the arms spaced at shoulder width. Your head should be looking forward and the bend of the knees should

Clean living can cut heart risks CLEAN living can slash your risk of heart disease even if your genes are heavily stacked against you.

A large study finds that people with the most inherited risk cut their chances of having a heart attack or other heart problems in half if they did not smoke, ate well, exercised and stayed slim.

The opposite also is true: you can largely trash the benefit of good genes with unhealthy habits.

“DNA is not destiny, and you have control,” said the study leader, Dr Sekar Kathiresan, genetic research chief at Massachusetts General Hospital.

“Many people assume that if your father had a heart attack, you’re destined to have a problem,” but the results show that’s not the case, he said.

The study was discussed earlier this month at an American Heart Association conference in New Orleans and published online in the New England Journal of Medicine.

It’s long been known that

genes and lifestyle affect heart risk, but how much influence each one has, and how much one factor can offset the other, are unknown.

Researchers combined information on more than 55,000 people in four studies around the world. One included imaging to check for plaque building up in heart arteries.

Participants were checked for 50 genes related to heart risks and placed in five groups based on how many they had. They also were sorted into three groups by healthy lifestyle factors - not being obese, exercising at least once a week, eating a healthy diet and not smoking. The favourable lifestyle group had at least three of these four factors; the unfavourable group had one or none.

The results: people with the most gene risk had nearly twice the chance of developing heart problems than people in the lowest gene risk group did.

Roughly the same was true for those in the unfavourable lifestyle group versus

Glute kickbacks

The Fire Hydrant

the favourable one.

But the interesting part was the difference in risk when gene and lifestyle factors were combined.

“If you have an unfavourable lifestyle and high gene risk, your risk of having a heart attack over the next 10 years is 10 per cent,” but with a good lifestyle, it was only five per cent in one of the groups in the study, Dr Kathiresan said.

When researchers looked at the imaging results, genetic and lifestyle factors matched how much artery plaque was seen.

Again, a healthy lifestyle mitigated the damage from flawed genes.

“If genetics has dealt you a bad hand, can you overcome that? The simple answer is yes,” Dr Kathieresan said.

Dr Pamela Morris, of the Medical University of South Carolina, who heads the American College of Cardiology’s prevention committee, said some patients with a strong family history of heart problems will say “I’m doomed. Why should I bother?”

create a 90-degree angle between the hamstrings and the calves. This will be your starting position.

2 Lift up your right leg until the hamstrings are in line with the back while maintaining the 90-degree angle bend. Contract the glutes throughout this movement and hold the contraction at the top for a second.

3 Go back to the initial position as you inhale and now repeat with the left leg.

• 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.

Clean living can greatly lower your risk for heart disease even if your genes are heavily stacked against you.

But this study shows that “when you do the work, it makes a difference,” she said. “It’s not horribly com-

plicated” to do either, she said. People don’t need to run a marathon, be vegans or “be a twig” in terms of

weight, she said.

MARILYNN MARCHIONE Associated Press

PAGE 10, Tuesday, November 22, 2016

THE TRIBUNE

Creating alternatives to stop the spiral of crime One of the problems in many sectors of our society is that people do not see options or alternatives to the lives lived around them. They understand that the answer to problems is violence and destruction.

We can resolve everything through killing our opponent.

They can shoot the member from the opposing gang, and so end the strife, but all this does is deepen the strife, and they will become the next targets.

It is far from amazing that violence only begets more violence, an old adage that we seemingly ignore.

As our young men fight to be recognised, there are some striking parallels that could be discussed. Their need for self-worth, self-respect and self-regard are no less important than anyone else’s. What is alarming is society’s disregard for all of these.

We immediately treat most young black males as something awful out of the ‘Zombie Apocalypse’ without even thinking about it.

As our neighbour to the north opens the floodgates to hatred and bigotry, it will be even more intriguing to see how young, poor, black males manage in this environment of crushing antiblackness and anti-working-class maleness. When we research we see strikingly similar threads of anti-blackness in the policing of black societies. Bell hooks and other intellectuals talk about being cast aside by the fact that

Dr Ian Bethell-Bennett

Deepening separation in society will only result in more violence black males are not allowed to feel included in the group. This, we have made especially true for young people born to Haitian parents in the Bahamas.

The warning signs have been present for decades and they are increasing; the worse we treat people, the more we isolate them, the worse their reactions will be to that social exclusion and economic and political marginalsation.

The system has created a serious and sizeable underclass of young, black, poor males in the

country and they are upset. Underclasses form by creating a divergent group of people who see that they have no place in society.

They are treated with contempt, are marginally educated and are unable to problem solve and create the same way other moreeducated individuals can do. This is in part due to trauma. The laws and regulations are used to keep them at bay because they are ‘dangerous’.

Through effective social exclusion, people are pushed into margins where they re-group and come out fighting. Much like the work done by Johan Galtung that explores the interconnectivity of systemic, cultural and direct violence, the Bahamas serves as a living laboratory for the exploration of the impact trauma and social exclusion have on young, working-class, black men.

In many instances when we look at how households work, in those with male influence, we find that many of the men are absent due to incarceration. Many of the fathers of young boys would have been in the system for years, so young boys know only a man who lives behind bars. Their grandfathers would also have been incarcerated at some time. So, what we see is an inter- and cross-generational link with violence and incarceration.

Once one member of a family is socially excluded, it is that much harder for the generations who follow to become agents in their

own lives. Upon examination of young Bahamian men who live in low-cost areas, their role models are overwhelmingly men who have been criminalised by the system or are themselves criminals through chance or choice.

We often forget that many criminals are developed through chance, not choice. There was no choice to fall in line with a cross-generational trend. That was what was seen and that was all that was available. What were the alternatives?

Systems are often violent to people they see as less worthy.

“We often forget that many criminals are developed through chance, not choice.”

Our ‘corrections’ system is one example of this. We claim to rehabilitate persons who have committed a crime, but by sending them to prison we are lessening their chances of being reformed. We, instead, create institutionalised criminals who are excluded from society in particular ways that allow them few options. Once a criminal goes to jail except if he is rich, he finds that all doors, present and future, slam shut. Of course, there are exceptions; there are those who can pull themselves out of this spiral.

Society, though, does these examples no favours. We insist that

Girls get advice on becoming a teenager at S.T.R.A.W. event Photos/Shawn Hanna

MORE than 100 girls at Cleveland Eneas Primary School in Pinewood Gardens received advice and guidance on how to deal with issues around becoming teenagers last week.

A youth development and mentoring programme run by S.T.R.A.W. (strengthening, transforming, restoring, affirming young women) Incorporated’s Center for Young Women resumed in September with ‘The Middle School Project’. Its theme for the academic year is ‘Proud to be a girl’ with a focus on engaging adolescent girls and encouraging them to be prepared to tackle the obstacles and issues that accompany their transition to the teenage years.

This is the fifth year that S.T.R.A.W. is recognising (along with the United Nations), the International Day of the Girl, which fell in October.

S.T.R.A.W’s mentors choose a local primary school, educate and engage girls in grades 5 and 6 about the what it means to be a girl locally and globally and help them celebrate all of the positive aspects in between.

This year S.T.R.A.W. chose to join with at least 100 girls at Cleveland Eneas Primary School to join in the UN’s international day of celebrating the value of being a girl and obtaining an education. The visit to Cleveland Eneas had been scheduled for last month but was postponed due to the effects of Hurricane Matthew.

Girls are also be educated on the current legislation that is in place to meet their unique needs and ensure that they remain safe, healthy, happy and successful educated contributors to our Bahamian society.

The event ended with a sponsored lunch for the participants courtesy of partners including AML Foods Ltd (Domino’s Pizza) and Ben and Jerry’s Ice Cream S.T.R.A.W. is a non-profit non-governmental community-based youth development organisation founded in 2004 by Therena Cunningham.

Its programes address diverse issues specific to girls through workshops that balance personal development

Members of S.T.R.A.W pictured with teachers of Cleveland Eneas Primary School.

once a criminal, always a criminal and treat them accordingly.

We choose to stigamtise.

Prisons, through their role in perpetuating institutionalised violence, produce more criminals.

The family of one young man today can have three generations of males who have been incarcerated through chance or choice.

This has different kinds of negative impact across the country.

As we, as a nation, choose to see all children born to Haitians in the Bahamas as criminal and illegal, we create a class of un-

and self-esteem builing with a critical understanding of stereotypes, socialisation and inequality. The orgnaisation says girl-specific programmes allow participants to take the time and space they need to express themselves with a level of confidence and openness that they may not be able to achieve in front of boys.

It was formed in reponse to the life threatening daily challenges faced by girls - gang influences, substance abuse, neglect, bullying, sexuallytransmitted infections, poverty and more. It fosters a caring, inclusive learning environment that promotes their best efforts and reinforces personal respect and success.

wanted, undereducated, unsocialised, angry disaffected persons.

Edwidge Danticat and bell hooks show how systems create replicas of what does not work. Bahamians have seen countless points of how given the new immigration policy, students not being able to attend school without proof of residence and the rise in gangrelated events, we are creating a deeper separation in our society that will only result in deeper scars and more violence. How can we show alternatives to those who only know generations of incarcerated males who are socially excluded?

Therena Cunningham, S.T.R.A.W Executive Director (above), and Renee Beneby, Assistant Director of Community Affairs at The Department of Social Services (below), speaking to the students at Cleveland Eneas Primary School.

THE TRIBUNE

Tuesday, November 22, 2016, PAGE 11

5 things to be truly thankful for THANKSGIVING is just two days away, and although I’m not an American, I do celebrate Thanksgiving as if I were.

After spending seven years living in the United States, you kind of pick up on a few things and mould it into your life. Things like tailgating, holiday decorating, monogramming, cheese grits, biscuits and gravy, and Thanksgiving made their mark on me, and that good ol’ Southern charm will forever be close to my heart.

It’s hard to narrow down the gratitude list to just a few things, but I encourage you to take note and write down the things you are thankful for this year. Here are five things I’m very thankful for:

1 My life

As we’ve seen over many years, the world is not a peaceful place; albeit war has been a part of the world since the beginning, it just feels like things are getting way out of hand.

Our lives are not perfect, we

about things, like politics. Without each other, our lives would be dull and boring; we stick together and in the end, are always there for each other. I’m sure your family is a little like that too.

Bun In The Oven

3 My kids’ love

Bianca Carter have ups and downs and can get down in the dumps about certain things, but this year I realise how thankful and grateful I am for my imperfect life; to be born in a part of the world where freedom is not an illusion but rather a fact.

Living in a place where women are important, valuable and have

a voice, where human beings can have a dream and work to live it peacefully, is a huge gift.

2 My big crazy family

I have a big family, lots of brothers and sisters, cousins, uncles and aunts and - like every family - we can get super loud, especially when we are all together having dinner.

Our discussions are mostly calm and collected but there are a few things we don’t always agree on and we try our best not to talk

I am always thankful for my kids, their happiness and health but I’m extra thankful for them this year. They are growing up a little too fast for my liking. The great thing about the stage that they are at now is that I can have serious conversations with them; they understand life a little more and can express their feelings and emotions very well. I love being able to still snuggle with them.

They can make a really bad day turn into a beautiful one.

4 Great friendship

Friendship is definitely quality over quantity. As you get older, you realise how important it is to have good, honourable and loyal friends. I am lucky to have some really good friends in my life.

Life gets busy and time passes quickly: it’s good to know that no matter what, you can rely on a few good souls to lift you up.

5 You good people!

I am so thankful for all of you that check out the website and blog, read my newspaper articles and interact with me on social media! I love hearing from you and thank you from the bottom of my heart.

Happy Thanksgiving!

Love & Hugs!

• Bianca Carter is a Certified Lactation Counsellor and Founder of Bun in the Oven. For more information, email 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

Why grit and gratitude are keys to personal growth THE THING with traditional gatherings like Thanksgiving is that they can often be more about what we are doing than about who we are being.

As such, this Thanksgiving, most people will be doing the exact same thing they did last Thanksgiving.

Instead, I see such occasions as wonderful opportunities to assess our personal growth, especially in the area of our gratitude and becoming more of ourselves as opposed to growing purely from a materialistic standpoint.

Of course, this is easier said than done. The prison of the comfort zone pushes people to stick and stay; keeping their lives basically the same way.

Truth be told, the area of personal growth is not a space occupied by the masses. Such growth has criteria that requires the grit to go the distance and the gratitude to be consistent. However, due to the burden of their comfort zones, most folks are unable to meet this criteria, settling instead to say stuck on the cycle

Michelle Miller Motivationals

Michelle M Miller of rinse and repeat. Recognise that even though this cycle may produce much material gain, you still relegate yourself to living an ordinary life.

Still, you can make a new choice. That is the great thing about life. It offers you endless chances to choose to become the person you were born to be.

By leaving your comfort zone, you begin to develop the grit and gratitude that empowers your personal growth. While the choice is yours, the question is: are you willing to leave your comfort zone?

Sadly, most are not. However, for the few who are willing to say yes, this article is just for you. So let’s get some clarity around the meaning of grit, gratitude and personal growth.

Many of us may know grit as in the ‘grits’ we may have for breakfast. However, the word ‘grit’ has a bigger, more profound meaning. It is defined as courage, resolve - strength of character. In her book, ‘Grit’, author Angela Duckworth says ‘grit predicts tenacity in reaching a goal and resilience in the face of disappointment’. Without the grit to make through the many hurdles of life, our personal growth becomes stagnant. Grit is an empowering quality and it is something you can begin to develop, here and now. Assess how well you handle challenges and disappointments.

Being more resilient helps you better overcome obstacles and embrace opportunities.

Gratitude and sense of gratefulness are core pillars of real success. Without an attitude of gratitude, you can live a disconnected, disengaged life experience, failing to take notice of the simple things that make the greatest difference. Things like your health, wellness and clarity of mind. Having access to food, water, shelter, family and friends are some of the basic things that we often take for granted. Gratitude is the quality of being thankful - truly the most potent ingredient you can develop. While you may think only of giving thanks around Thanksgiving, begin to see gratitude as a constant way of being. See it as an attitude of being grateful and giving thanks in all things.

Your personal growth is personal; meaning it is up to you to determine what growing personally means to you. Begin by redefining how you define growth; see it beyond the things

that your money can or cannot buy. Instead, evaluate the degree to which you are better managing yourself and becoming more of the person you are born to be.

Personal Development Guru, Jim Rohn says the true definition of personal growth is working harder on yourself than you do on your job. This is truly a thought provoking definition to ponder. Leader to leader, this Thanksgiving, be motivated and inspired to do something different. Make it an opportunity to assess your grit and gratitude for personal growth. By developing these qualities, you give yourself the confidence to live a more empowered life.

Yes, you can do it.

• What do you think? Please send your comments to coaching242@ yahoo.com or 429-6770, visit www.talktomichellemmiller.com or snail mail to PO Box CB13060.

Michelle M Miller is a certified Life-Coach and Communications/Leadership Expert.

SECTION B

TUESDAY, NOVEMBER 22, 2016

Recognising the value of women A week of celebration and empowerment

T

HIS week, the country observes the magnanimous achievements of the Women’s Suffrage Movement and the right for women in the Bahamas to vote with National Women’s Week.

It’s an opportunity for all women in the country to be reminded of their worth and the valuable contributions they can make to nation building 54 years after enfranchisement.

The Women’s National Advisory Council (NWAC) is playing an active role in the week of events, ensuring that the public knows of its role and capacity in helping the women of the Bahamas.

Marisa Mason-Smith, the president of the organisation, explains the Council’s role and function as serving as an umbrella organisation of sorts, bringing together women from all walks of life, representing a variety of women’s groups and civic groups throughout the country. Coming together for monthly meetings, the NWAC is an appointed body established to advance women’s affairs and social matters.

“We seek to advance the status of women and improve the lives of women and girls as well,” said Ms Mason-Smith. “We advise the Minister on national and social events going on in the country. Every month we come together to discuss general issues and we have speakers of interest to educate, empower and inform on matters taking place in the country. We did a lot of information-sharing earlier this year, hosting sessions on parenting, nutrition, and family life.”

Ms Mason-Smith believes the group is effective, noting that there are many women’s associations, civic organisations and

Marisa Mason-Smith is concerned about employment and empowerment.

NGOs represented, each having their own concerns and constituents. Each has a voice during meetings and shares ideas and opinions to help improve the lot of all.

They take note of the needs of women in the society and advise the ministry on the status of women while suggesting how their lives can be improved.

The Council provides advice and guidance to the Minister of Social Services and Community Development, Melanie Griffin, on the revision or amendment of any legislation that may affect

women, hence, representing “a voice for all women” in the country.

“There is a great need for employment for our women,” says Ms Mason-Smith. “The biggest concern right now is economic empowerment and the advancement of women in industry.

More and more people are talking about family life and returning to the values we once had.”

The Council is looking at how to reduce the unemployment rate for Bahamian women and how to reduce the social ills in the country. It has advised on

projects and programmes that are currently in use to assist with skills training for unemployed women.

“Persons are looking for a better life in terms of reducing poverty; we are trying to get women empowered so they can take care of their families,” she said. “Crime is a big concern.

The Ministry of Social Services is doing a great job in trying to minimise and eradicate this through their outreach programmes.”

The NWAC once made its recommendations to the Bureau of Women’s Affairs. That has been dissolved and replaced with a department with a broader scope.

Mrs Griffin recently announced the new Department of Gender and Family Affairs, which will look at the roles of both women and men. The newly-formed department also welcomed a Director, Gaynel Curry, who comes with a wealth of knowledge on social and gender issues on a national and international level.

Ms Mason-Smith said the council’s directory has been revamped and revised to include even more organisations, and she encourages all non-registered NGOs, groups and associations to become registered.

Often, because these groups are not registered, she said, they are not privy to many advantages that have been created for them.

Being registered with the council opens up many possibilities for women-centred groups, including special funding from groups such as the Inter-American Development Bank, the Caribbean Development Bank and other entities.

“They also become a part of a network that provides technical and human resources support, so they should register and become a part of our monthly meetings,” she advised.

The Council includes members such as the Vice President Rev Sabrina Pinder, Rev Marina Sands, Cyprianna Bethel, Adeline Hanna, Sabrina Francis, Michelle Fields, Carlotta Burns,

Maudlin Cooper, Rev Ferguson and other leaders in the community. Leaders of women’s civic and political groups are also represented.

Ms Mason-Smith’s presidency has been multi-faceted, as she also served as the past president for the Zonta Club - an institution known for the empowerment of women.

She encourages all Bahamians to participate in the series of events being held this week, hosted by the Ministry of Social Services and Community Development. On Wednesday evening, Mrs Griffin will bring remarks at the opening of a special course at the University of The Bahamas called “Leadership for Women in Decision-Making” at the Bishop Michael Eldon Complex at 5.30pm.

On Thursday the Zonta Club will host: “Zonta Says No to Violence Against Women” forum at the School of Nursing Auditorium, Grosvenor Close, at 10am. This will be followed by an orange ribbon-tying event on Bay Street, beginning at the Hilton Hotel.

Ministry representatives will head to Abaco and Exuma for events to commemorate National Women’s Week before returning to the capital for a special cultural evening on Friday, when the National Art Gallery of The Bahamas will be the venue for “Women in the Arts ... an Evening of Cultural Performances” from 6-8pm. The winner of the “Orange your Office” campaign in recognition of the International Day to End Violence Against Women will be announced at that.

The national week of events will culminate with the National Women’s Day March/Fun Walk and Celebration on Saturday.

The March begins at 8am at the University of The Bahamas near the Portia Smith Building and reconvenes at UB for celebrations from 9am to noon.

Orange Friday marks a brighter future for females This Friday is observed globally as the United Nations International Day for the Elimination of Violence against Women.

It’s an opportunity for governments, international organisations and nongovernmental organisations to raise public awareness of violence against women.

It has been observed on November 25 each year since 2000, and is a day before Bahamians mark the anniversary of the right of the Bahamian woman to vote and the work of the Women’s Suffrage Movement.

According to the UN, this day is held to highlight that violence against women is a human rights violation; violence against women is a consequence of discrimination against women, in law and also in practice, and of persisting inequalities between men and women; violence against women impacts on, and impedes, progress in many areas, including poverty eradication, combating HIV/AIDS, and peace and security; violence against women and girls is not

Gaynel Curry (right), Director of the newly-formed Department of Gender and Family Affairs, at the launch of National Women’s Week with Minister of Social Services and Community Development Melanie Griffin. inevitable.

Prevention is possible and essential and violence against women continues to be a global pandemic.

Whilst a national competition is underway this week - the “Orange Your Office” campaign - the UN is seeking to “Orange the World” at this time of year to assist in raising funds and raising awareness to end violence against

women and girls. The colour orange is used to represent a brighter future for the world when violence against women and girls is eliminated.

The new Director of Gender and Family Affairs at the Ministry of Social Services and Community Development, Gaynel Curry, knows all too well about the plight of women and girls worldwide. She will be working with the Ministry

for the next two years, seconded from the UN, to assist in dealing with such issues in the Bahamas.

She was previously serving as the Gender and Women’s Rights Advisor for the Office of the High Commissioner for Human Rights.

She noted that the expansion of the Bureau of Women’s Affairs into a department that addresses the entire family is a timely one. There is a link, she believes between empowering members of the family and decreasing violence against women.

The man must be empowered through education and systems of support so that he has the tools necessary to be a provider and the foundation for his family. He must be encouraged from a mental and social standpoint as well. Women must be empowered and protected, whilst their roles in building the family must be valued. When the parents are empowered, they provide a more stable environment for the healthy, holistic growth of their children.

Ms Curry’s department will look at providing the necessary policy advice so that the legislative framework is in place to make all this possible.

She noted that proper conflict resolution techniques are important for all members of the family. Too often, tragedy comes about through misunderstanding and in a small nation such as the Bahamas, where families are so closely connected, it is necessary to ensure that all citizens are aware of better ways of conflict resolution.

Ms Curry was the first Women Protection Adviser (WPA) in the UN’s mission in South Sudan, and provided expertise on sexual and gender-based violence in conflict. “The value-added WPAs is mainly having this specific expertise and dedicated resources on conflict-related sexual violence,” she said.

WPAs take on the issues of “monitoring, investigating, analysing, understanding and strengthening the appropriate integrated UN responses”.

Her mission defined

conflict-related sexual violence, including issues of rape, sexual slavery, torture and inhumane treatment, and threats to physical and mental integrity.

Knowing that women all over the world face similar issues, Ms Curry is now assessing the climate in her own country, to work towards decreasing the cases of violence against women here. As a gender advisor, she has ensured that women are always a part of the peace-building process.

She sees it as crucial to empower women to become engaged in the process.

Since taking the post of Director in late September, Ms Curry has already made several radio and television appearances, seeking to garner the views of Bahamians from all walks of life in order to make meaningful policy advice for the protection and advancement of women and of the entire family unit.

Ms Curry will announce the winner of the “Orange Your Office” campaign on Friday at the National Art Gallery of The Bahamas beginning at 6pm.