TUESDAY, DECEMBER 13, 2016
business@tribunemedia.net
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Baha Mar deal’s ‘open governance’ conflict By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
Robert Myers
K. Peter Turnquest
The continued secrecy surrounding the Baha Mar deal is “in direct conflict” with demands for more open and accountable governance, a leading reform campaigner said yesterday. Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that agreements See pg b5
Land, tax giveaway ‘absolutely’ needs disclosing Campaigner: Govt ‘must account’ for its decisions FNM deputy: Govt ‘incredibly arrogant’ on secrecy
Sarkis ally: Baha PM promises ‘no Mar sale ‘classic Baha Mar mystery’ Will table Heads of PLP deal-making’ Agreement in House By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A key Sarkis Izmirlian ally yesterday blasted confirmation of Baha Mar’s sale as “classic PLP dealmaking”, telling Tribune Business it was “amazing” that the Government had yet to table any documents in Parliament. Dionisio D’Aguilar, who sat on Baha Mar’s Board under original developer, Sarkis Izmirlian, said the “shroud of secrecy” covering Chow Tai Fook Enterprises (CTFE) purchase made it impossible to determine whether the deal was in the best interests of the country and Bahamian people. And Mr D’Aguilar, the FNM’s candidate for Montagu, said that until all details were revealed it was “impossible to debunk” claims that the Chinese were in charge and telling the Christie administration what to do over Baha Mar. Prime Minister Perry Christie, in confirming that CTFE had signed an agreement to purchase the entire share capital of Perfect Luck Assets, the special purpose vehicle (SPV) formed by the China Export-Import Bank to hold Baha Mar’s assets, promised that the secrecy would eventually end. He pledged to table the Heads of Agreement with CTFE in the House of Assembly as a means to end the “mystery and speculation” surrounding the Baha Mar deal, but added that this could not be done yet because terms were still being finalised.
D’Aguilar: ‘Nothing in sunshine, all in darkness’ Adds: ‘We can’t debunk’ that China’s in charge ‘Amazed’ Bahamians can’t assess deal’s merits
Dionisio D’Aguilar It is also unclear whether documents laying out the agreement between the Government and the China Export-Import Bank for Baha Mar’s construction completion, and details of the bank’s deal with CTFE, will be disclosed. These are currently sealed by Supreme Court Order. Confirmation that CTFE and the China Export-Import Bank have signed a sales agreement for the former’s Baha Mar purchase comes as little surprise, given that both the buyer and the Government have See pg b5
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Prime Minister Perry Christie yesterday pledged that he would ensure “transparency and accountability” over Baha Mar’s sale by releasing the Heads of Agreement with Baha Mar’s purchaser once it is completed. Confirming that Chow Tai Fook Enterprises (CTFE), the Hong Kong conglomerate owned by the Cheng family, had signed an agreement to acquire Baha Mar’s resort assets, Mr Christie promised that the secrecy surrounding the deal would eventually be breached. He told the House of Assembly: “It is contemplated that CTFE will receive the concessions provided to Baha Mar as applicable. The Government intends to enter into a Heads of Agreement with CTFE to outline all obligations and concessions provided. “It is fair to say that the categories of concessions being considered are not different than those of-
Defends sealing of completion agreement ‘No unsual concessions’ offered to conclude deal fered by the previous government. This Heads of Agreement, the main terms of which have been agreed will shortly be completed, will not be shrouded in mystery and speculation as, once executed, it will be tabled to ensure transparency and accountability.” It is unclear, though, whether the Government’s agreement with the China Export-Import Bank, Baha Mar’s secured creditor, for the project’s completion will be disclosed given that this has been sealed by the Supreme Court. Mr Christie said this action, at the bank’s request, See pg b4
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Big doctor fee cuts ‘only way NHI can work’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Medical Association of the Bahamas (MAB) president yesterday said “significant” cuts to doctors’ fees were “the only way” to make National Health Insurance (NHI) work, adding: “This is what you get with socialised medicine.” Dr Sy Pierre said the reduced remuneration offered by the NHI Secretariat should not have shocked MAB members and other physicians, as this was how ObamaCare - and similar healthcare systems in the UK and Canada - operated. The MAB president said that while this would be NHI’s reality for many Bahamian doctors, it did not necessarily mean that he agreed with it or that it was correct. Detailing his concerns with the proposed health-
MAB chief: No one should be shocked Fears extra ‘brain drain’ care quality impacts Says NHI scheme ‘symptom’ of economic malaise care reforms, Dr Pierre said reduced fees would mean doctors would have to spend less time with patients, which could compromise the quality of care. And he warned that lower compensation would also exacerbate “the brain drain” that has seen highlytrained Bahamian physicians leave for better-paying prospects abroad, with no one coming back to replace them. See pg b4
Developers forcing taxpayers ‘to foot’ Judicial Review bill By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Foreign developers are forcing Bahamian taxpayers to “foot the bill” for defending their interests in Judicial Review actions brought by environmental activists, a well-known QC said yesterday. Fred Smith QC, the Callenders & Co attorney and partner, said that by failing to actively participate in court hearings, developers were forcing the Government to defend their investments and projects on their behalf. He argued that this situation, which had occurred
QC: Failing to participate puts burden on Govt Says Govt ‘not Siamese Twin’ of developers Abaco Club: Costs only incurred due to RDA action over the Resorts World Bimini and $12 million Blackbeard’s Cay projects, was now being repeated in the legal battle over the Abaco See pg b3
PAGE 2, Tuesday, December 13, 2016
THE TRIBUNE
Ansbacher confirms Rothschild purchase Ansbacher (Bahamas) yesterday said it has obtained all regulatory approvals to acquire 100 per cent of Edmond de Rothschild (Bahamas) from its Swiss-based parent. The Ansbacher acquisition again highlights how global financial services industry trends are impacting the Bahamas, as the Edmond de Rothschild Group sought an exit to enable it to focus on its home markets. It marks another step in the Bahamian industry’s consolidation, with a reduction in the number of sector players as a result. Anthony Ferguson, Ansbacher (Bahamas) executive vice-chairman, said: “We
are pleased to conclude the purchase of this highly-respected and internationally diversified wealth management company. “The acquisition of Edmond de Rothschild (Bahamas) is an excellent strategic fit that will significantly expand our reach and capabilities in some important lines of business. “We believe that our prudent wealth management strategies, combined with the large distribution network of Edmond de Rothschild (Bahamas), will allow us to help more people manage their wealth securely for generations to come,” he added. “Over the coming
months, we will drive forward the integration to maximise the benefits for our clients, employees and shareholders.” Luca Venturini, Chairman of Edmond de Rothschild (Bahamas), said: “We are 100 per cent convinced this is the best outcome for all stakeholders of Edmond de Rothschild (Bahamas). “Ansbacher (Bahamas) is the largest, and one of the oldest, players in the Bahamas financial services sector. They have built a reputation for financial strength and stability that dates back to their inception in 1957, and we are confident that our existing client groups and employees will benefit
greatly from the strong client focus that will come from this move.” Ansbacher (Bahamas) is a member of AF Holdings,
the former Colina Financial Group. AF Holdings, which has more than $14.5 billion in assets under management and administration, and
$230 million in total group equity, also owns Colina Insurance and CFAL, an independent investment advisory firm.
corporate relations director, Dennis Hanna; Commonwealth Brewery managing director, Hans Neven, and Bahamas Property Fund chairman, Michael Anderson.
BISX stages conclave with listed companies
CONGRATULATIONS
Linda Beidler-D’Aguilar
Winner of the 2016 Minister’s Award The Partners and Staff of Glinton Sweeting O’Brien congratulate Linda Beidler-D’Aguilar, Head of our Financial Services Group, for receiving the prestigious Minister’s Award at the Bahamas Financial Services Board’s 2016 Annual Awards Gala. The Minister’s Award recognizes an individual who is deemed to have made outstanding contributions to the financial services sector of The Bahamas, and is an exceptional achievement within the financial services industry.
The Bahamas International Securities Exchange (BISX) held a closed-session conclave with its listed issuers last Thursday to discuss its regulatory role and mission, as well as their duties and responsibilities. The meeting was specifically limited to senior representatives of BISX-listed companies to ensure that all participants were individuals responsible for compliance with BISX’s Rules. BISX’s chief executive, Keith Davies, said: “The exchange communicates and meets with its issuers oneon-one on a regular basis. “However, our reasoning behind this conclave was to bring as many of our issuers as possible into one room at the same time. The goal being, of course, to facilitate the exchange of ideas and information - not just from the exchange to its issuers, but also from the issuers with each other. “The attendance at our meeting was outstanding, and it was good to receive the overwhelming positive feedback from our listed issuers regarding their participation and depth of learning.” The Conclave featured four sessions designed to provide issuers with principles on how the exchange’s rules were enforced, and why the rules are in place. The purpose of each session was to provide issuers with a deeper understanding of the exchange’s regulatory regime. The Modules were: * Listing on BISX – This session was presented by BISX chief operating officer, Holland Grant, who identified the guiding principles of these BISX Rules as: Capital Formation, Market Development and Suitability. * Issuer’s Continuing Obligations – This session was presented by BISX chief ex-
Bahamas Waste managing director, Francisco De Cardenas, speaking at the conclave. ecutive, Keith Davies, who identified the guiding principles of these BISX Rules as: Transparency, Confidence and Security. * Trading on BISX – This session was presented by Mr Davies and Mr Grant jointly. The guiding principles identified were: Transparency, Price Discovery and Equitable Access. * Corporate Governance – This session was presented by Odecca Gibson from the Securities Commission, who spoke about the existing corporate governance framework in Bahamian law, international standards and considerations for company Boards and senior management. Lyrone Burrows, FamGuard Corporation’s president, said: “I was delighted to have been a participant at the first BISX listed issuer conclave. “The session brought further clarity to the roles and obligations of all stake-
holders associated with the local capital markets, and provided the opportunity for listed issuers to interact with executives of the exchange in a less formal setting. I definitely look forward to future sessions of this nature.” Hans Neven, Commonwealth Brewery’s managing director, said: “I found the session very informative and professionally conducted. It’s clear BISX has taken steps to make itself more user-friendly and accessible. I believe BISX is well on its way to achieving global standards and continued growth.” Mr Davies added: “The relationship between BISX and the Securities Commission is a necessary strong pillar to the effective regulation of the Bahamian capital markets, and we look forward to many more collaborations of this nature.”
THE TRIBUNE
Tuesday, December 13, 2016, PAGE 3
PM pledges ‘rigorous’ casino investigation for Baha Mar buyer By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Prime Minister Perry Christie yesterday pledged that Baha Mar’s buyer will have to undergo normal due diligence requirements, including a “rigorous” investigation with respect to its casino operations. Addressing the Chow Tai Fook Enterprises (CTFE) purchase of the stalled development, Prime Minister Christie said: “CTFE and its operating companies will have to meet the normal due diligence requirements of the Government, including the rigorous investigation and licensing process of the Gaming Board with respect to its casino operations.” His statement appeared designed to counter fears that the Government, in its desperation to have Baha Mar completed and open before the 2017 general election, will give CTFE ‘a free pass’ on the normal regulatory approvals and permitting processes. It also appears to be an attempt to ease concerns over CTFE’s casino operations, in particular its links to the Macau gaming scene, which in the past has had ties to Chinese organised crime gangs known as Tri-
Admits CTFE selected from outside sales process ads. These concerns were first raised by former Baha Mar director, Dionisio D’Aguilar’, and appear to be based on a May 18, 2009, report by the US state of New Jersey’s gaming enforcement division, dealing with a proposed Macau casino joint venture between MGM Mirage and the daughter of Macau ‘gaming king’, Stanley Ho. As disclosed by Tribune Business, that report focused on concerns that Macau’s VIP gaming rooms were vulnerable to exploitation by the Triads. Mr D’Aguilar’s claims sought to link CTFE’s owners, the Cheng family, and their publicly traded subsidiary, New World Development, to these activities via their investment in Mr Ho’s STDM and SJM companies. However, the Chengs and CTFE refuted these allegations, and said they were “committed to integrity and good governance in all of our business operations worldwide”. Mr Christie, meanwhile,
Developers forcing taxpayers ‘to foot’ Judicial Review bill From pg B1 Club’s Little Harbour marina project. Mr Smith, who is acting for Responsible Development for Abaco (RDA) against the project, said that despite the developer’s attorneys, Higgs & Johnson, being present at every court hearing, they were not playing an active role. As a result, he argued that the Abaco Club was forcing the Government to defend its interests, with Bahamian taxpayers having to cover its legal costs. This interpretation was rejected by Tom Southworth, vice-president of development at Southworth Development, the Abaco Club’s main owner, who said any Government/taxpayer expenditure was only being incurred because of RDA’s legal action. He told Tribune Business:
“We’ve done everything the Government asked us to do, including multiple public hearings. “RDA sued the Government with respect to the process, and now are complaining that the Government has to spend money to respond.” But Mr Smith, referring to the Abaco Club’s response via Tribune Business to previous legal filings by RDA, said its comments should have instead “been put into evidence and relied upon in the court case”. “They have been conspicuously absent in their participation,” Mr Smith told Tribune Business. “The Judicial Review process provides an opportunity for affected parties to be heard. “In accordance with the court Order, we have sent them [the Abaco Club] all of the papers in the matter. Despite their attorneys be-
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Hope Strachan, Minister of Financial Services
Prime Minister Perry Christie pictured during a recent tour of the Baha Mar property. Photo: Shawn Hanna/Tribune Staff yesterday confirmed previous Tribune Business revelations that CTFE was selected as Baha Mar’s buyer from outside the formal sales process run by receivers, Deloitte & Touche. He said all bids received by the receivers had been evaluated and ultimately rejected. As a result, the China Export-Import Bank subsequently entered into negotiations with other interested parties. “We were subsequently advised that after careful consideration CTFE emerged as the best and most qualified buyer,” said Mr Christie He added that through its subsidiary, Rosewood,
CTFE has been involved with Baha Mar since 2011. In August 2015, the hotel chain filed a motion in a Delaware court to pull out from the stalled development. Mr Christie said yesterday that Baha Mar is now back on track for a phased opening in 2017, and completion in the fall. “Baha Mar is anticipated to generate approximately 315,000 additional air passenger guests to the Bahamas. This is a 19 pr cent increase over the total arrivals in 2015,” the Prime Minister said.
ing present at each hearing, they have said nothing and failed to participate. “This highlights that the Bahamian taxpayer is always footing the bill with the Government defending proceedings on behalf of the developers, as with Blackbeard’s Cay and Bimini. “It is high time that the Government of the Bahamas recognised it is not a Siamese Twin of foreign developers. It is high time the Government called on all these developers to foot their own bill in defending their secretive, closed doors, behind-the-scenes deal they both concoct.” Mr Smith questioned who would benefit from the Abaco Club’s marina development, but emphasised that the RDA action was “all about process”, and the Government’s failure to follow its own statutory permitting/approval regimes - especially the need to consult with affected parties. Pointing out that Southworth Development would have gone through such
processes in the US and the UK, he added: “The Bahamas is no different. “As a director of Save the Bays, I emphasise that Save the Bays, RDA, Save Guana Cay Reef Association, reEarth and all the NGOs are not against development; they simply wish for development to occur in accordance with the Planning and Subdivision Act and all the other legislation that provides for due process and fair hearings for all these developments, and all those affected.” Mr Smith continued: “We’re not against development; we simply wish to be considered. Having little fly-by-night Town Meetings trying to bulldoze projects through, without taking into account the interests that will be affected, will only continue to generate legal challenges which, unfortunately, delays and prevents development and sustainable economic growth.”
The Bahamas Cycle Company will hold it Annual General
Bahamas strengthens trust regulatory regime By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Amendments passed by the House of Assembly will help to strengthen and add value to trust administration, a cornerstone of the financial services industry, a Cabinet minister said yesterday. Hope Strachan, minister of financial services, who moved for the second reading and committal of the Bill to amend the Trustee Act, said: “These amendments will enhance the growth and competitiveness of the Bahamas’ financial services industry by ensuring that our legislative regime in relation to trust services and wealth management is on par with our competitors.” She added: “The proposals are anticipated to add value to trust instruments in the Bahamas, making it more attractive to potential and existing clients, thus having the overall effect of creating financial services business in the Bahamas. “This further translates into the creation of new trusts for wealth management, which will have the overall effect of creating employment and enhancing the Bahamas’ position as a major wealth management destination.” Mrs Strachan said the
Trustee Amendment Bill seeks to amend the Trustee Act Chapter 176, strengthen ing the law as it relates to the administration of trusts. She added that a revision to Section 36 addresses the release of a trustee, and indemnification for breach of trust. “The existing subsection 4 is inconsistent with subsection 3 in that it does not capture the release for breach of trust. The proposed amendment is seeking to resolve a mischief which was created by a section that was inconsistent with another,” Mrs Strachan said. She added that the amendments insert a Hastings Bass rule into the Trustee Act. “Industry professionals highly recommended the preservation of this rule by the insertion of the principle into legislation,” Mrs Strachan explained. “What we are seeking is to protect the principles of that rule and put it into the into legislation.The Bahamas is currently at a disadvantage for not having the rule included.” The Hastings- Bass rule has been used for many years to relieve trustees of the consequences of their errors, being most commonly used for unforeseen tax liabilities.
COMMONWEALTH OF THE BAHAMAS
CLE/qui/01247/2016
IN THE SUPREME COURT COMMON LAW & EQUITY SIDE BETWEEN IN THE MATTER OF all that piece Parcel or lot of land known as Lumber Cay situate approximately Seven Hundred (700) feet south of Staniel Cay containing Thirty (30) acres and all that piece Parcel or Lot of land known as Jim Cay containing Eight (8) acres situated North of Lansing Cay, between Musher and Hog Cay, Exuma, one of the Islands of the Commonwealth of the Bahamas.
Meeting on Thursday 15th, December
AND
at 5pm at the Magnolia Building
IN THE MATTER of Quieting Titles Act 1959
on the corner of Bay St. and Elizabeth Ave.
Job Opportunity Private Company back office is looking for an individual, age between 35 to 45 years, with banking experience-a competent, energetic person, perhaps made redundant through down- sizing. The candidate must have presence and a good knowledge of bank procedure to be capable of discussing customer-bank issues with confidence. A knowledge of Corporate matters is an asset, however this can be learned in office if necessary. The individual must be able to demonstrate, if a former banker, that the termination was due to down-sizing and not because of a lack of competence or any other detrimental cause. Replies should be addressed to :Fax: 242-356-6787 or Telephone: 242-322-2883. Resume and back up references will be requested if a candidate is scheduled for interview.
AND IN THE MATTER of the Petition of Gardie Richardson Nixon and Samuel Burrows _________________________________ NOTICE _________________________________ Notice is hereby given that Gardie Richardson Nixon and Samuel Burrows are applying to the Supreme Court of the Commonwealth of the Bahamas to have their title to the following investigated under Section 3 of the Quieting Titles Act 1959 and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act “ALL THAT piece parcel or lot of land known as Lumber Cay or Lot of land known as Lumber Cay situate approximately Seven Hundred (700) feet south of Staniel Cay containing Thirty (30) acres Exuma and all that piece or lot of land known as Jim Cay containing Eight (8) acres situated North of Lansing Cay , between Musher and Hog Cay, one of the islands or cays in the Commonwealth of the Bahamas”. A plan of the said land may be inspected during normal working hours at the following places: a) The Registry of the Supreme Court of Nassau, Bahamas. b.) The Chambers of Andrew C. Allen Law Chambers, #14 Caves Professional Centre, Nassau, The Bahamas. c.) The Administrator’s Office, Georgetown, Exuma, The Bahamas. Notice is hereby given that any person having a dower or right of dower or an adverse claim or a claim not recognized in the said Petition shall on or before the expiration of thirty (30) days after the final publication of these presents file in the Registry of the Supreme Court and serve on the Petitioner or the undersigned a Statement of his Claim in the prescribed form verified by an Affidavit to be filed therewith. Failure of any such person to file and serve a Statement of his Claim on or before the expiration of thirty (30) days after the final publication of these presents shall operate as a bar to such claims. Andrew C. Allen Chambers #14 Caves Professional Centre Caves Village Nassau, The Bahamas Attorneys for the Petitioners
PAGE 4, Tuesday, December 13, 2016
Big doctor fee cuts ‘only way NHI can work’ From pg B1 The MAB president also expressed concern about the minimal focus that had been placed on developing an electronic records system to administer NHI, given that this was vital to preventing fraud, waste, mismanagement and other abuses. “The remuneration is going to be a significant cut,” Dr Pierre confirmed, “but that’s how socialised medicine, socialised healthcare systems, work. “I don’t know what they expect,” he added of his fellow doctors. “Why would people think socialised medicine would give them the same remuneration as private care? It makes no sense. “A Government socialised medical system is going to be a system with lower remuneration. I don’t know
why it’s such a shock to people. I was not surprised at the remuneration they discussed.” Tribune Business revealed yesterday how the many primary Bahamian physicians had been left stunned by the “70 per cent across-the-board” fee cut proposed by the NHI scheme, after the rates were revealed to them last week. They fear that if these rates stand, they will be unable to support significant investments in their practices and cover standard overhead costs, resulting in unprofitability and forced downsizings that are likely to result in job losses. Dr Pierre, though, reiterated that “the remuneration cut has to be steep” for NHI’s primary care phase to fit within the $100 million budget that has been allocated by the Government.
PM promises ‘no Baha Mar mystery’ From pg B1 was not unusual in deals of Baha Mar’s complexity and market sensitivity. “The Bahamian Supreme Court approved the sealing of the documents to ensure that the parties secure the best outcome for the property,” he said. “A sale and purchase agreement has been executed. However, there still remains outstanding conditions and negotiations between the bank and CTFE for various ancillary agreements. Maintaining
all court filed-documents under sealenables the bank and CTFE to finalise these negotiations with the normal business confidences that one would expect.” Mr Christie also addressed concerns over the value, and nature, of the investment incentives (concessions/tax breaks) granted to both CTFE and the China Export-Import Bank/China Construction America (CCA). He said: “I take this opportunity to nullify any suggestions that the Government has provided unu-
The scheme, as presently crafted, effectively seeks to compensate doctors for reduced fees/margins by providing them with greater patient volume and a series of set fees. “The natural incentive will be to pack people in there, or reduce the amount of care and visits,” Dr Pierre said of NHI’s consequences for doctors. Much will depend on whether the assumptions underpinning the NHI model, namely the likely number of annual patient visits to their primary care physician, holds up. The MAB chief, dividing Bahamian physicians into three categories, said those who were less successful, and had smaller practices, would be the ones supporting NHI simply because if held out the promise of greater patient numbers for them. “They’re not doing anything I didn’t expect,” Dr Pierre told Tribune Business of the Government and its NHI Secretariat.
“They’re meeting my expectations. I didn’t expect this to be some panacea where people are going to have great healthcare. That’s not going to happen.” Reduced healthcare quality, he added, was “a natural phenomena” if doctor fees were cut. “It happens everywhere if you reduce the amount of monies,” Dr Pierre said. “The remuneration is a significant cut. It has to be to make it [NHI] work in some way or form. That’s just the way it is, unless our governance gets to the point where there are better jobs, more money in the economy, so we’re not as dependent on a socialised healthcare system.” Dr Pierre argued that NHI’s development was a reflection of the Bahamas’ economic stagnation, and the fact that private health insurance coverage was either being dropped by employers, or was being priced out of reach of many Bahamians.
“The Government doesn’t want to admit it, but NHI is a symptom,” the MAB chief argued. “Say we didn’t have the crime and Immigration issues, and there were more stable, good-paying jobs. “There would be absolutely no need for NHI, as everyone would be able to afford health insurance. NHI is a reflection of our poor economy.” Dr Pierre said he did not want to see the Bahamian healthcare system under NHI become a “prescription mill”, as had occurred in the US. He explained that American physicians he knew were seeing up to 40 patients a day and taking lunch breaks, meaning they had to cram each person into a two-minute interval, give them a prescription and tell them to come back in a few months. Dr Pierre then expressed concern that NHI wold exacerbate the “brain drain” of talented Bahamian physicians, as had occurred in
Jamaica when it implemented its version of socialised medicine. “We have consultant level, quality physicians who have left the Bahamas, but the bigger question is that we have no one coming back,” the MAB chief told Tribune Business. “We don’t have quality physicians coming back. That’s the brain drain issue they had in Jamaica, when they moved to a socialised type of healthcare system.” Dr Pierre said NHI’s introduction would inevitably “shrink” the market for private healthcare and related insurance, and represented a move “into even bigger, larger government” for Bahamians. Pointing to problems with NHI-type schemes elsewhere, Dr Pierre said doctors in the UK, whose National Health Service (NHS) is widely regarded as a model for many other nations, went on strike earlier this year “because things were so bad”.
sual concessions to conclude this deal. “It is not unique to the Bahamas to provide concessions and encourage investment, and it is not unique to this project that concessions will be provided on a proportionate basis to the development.” Mr Christie said the construction concessions provided to CCA are ‘identical’ to those granted by the former administration. He added that the Government was also restricted by the ‘Most Favoured Nation’ clause in Atlantis’s Heads of Agreement, which requires that any incentives granted to another developer - and which it has not received - must also be
given to the Paradise Island property. Shortly after the Prime Minister’s address, CTFE released a statement confirming it has signed an agreement to own and operate Baha Mar. Graeme Davis, president, of CTFE’s Bahamas subsidiary, said: “CTFE will dedicate significant, ongoing investment and resources towards the pre-opening and opening of Baha Mar. “We will also ensure that the Bahamian people and the region benefit fully from the project, which will create tremendous job and economic stimulus opportunities. “Further, by combining our global hospitality ex-
pertise with the vibrant and authentic Bahamian culture, we will create a memorable, unmatched experience for guests of which all Bahamians can be proud.” The statement said CTFE was in discussions with Baha Mar’s previous operator line-up, Grand Hyatt, SLS Hotels, and its own subsidiary, Rosewood Hotel Group, to brand the
resorts. To prepare for the opening of the casino hotel and casino, CTFE is “onboarding” a leadership team from internationally-recognised brands. It plans to begin recruiting employees for the casino in the New Year, and is also in discussions to form marketing alliances with leading global gaming companies.
NOTICE INTERNATIONAL BUSINESS COMPANIES ACT (No. 46 of 2000) BUBU HOLDINGS INC. IBC No. 149558 B (In Voluntary Liquidation) NOTICE is hereby given that as follows: (a) That BUBU HOLDINGS INC. is in Dissolution under the provisions of The International Business Companies Act 2000. (b) The Dissolution of the said Company commenced on the 30th day of November, 2016 when the Articles of Dissolution were submitted and registered by the Registrar General.
(d) Any person having a Claim against the above name Company are required on or before the 30th day of December, 2016 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved. Sterling (Bahamas) Limited Liquidator
NOTICE
NOTICE
Manpro Ltd.
INTERNATIONAL BUSINESS COMPANIES ACT (No. 46 of 2000)
(a) Manpro Ltd. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 9th day of December, 2016 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Mr. Delano Aranha of Ocean Centre, Montagu Foreshore, East Bay Street, P.O. Box N-3247, Nassau, Bahamas H & J CORPORATE SERVICES LTD. Registered Agent for the above-named Company
HARLESTON TECHNOLOGIES LIMITED - IBC No. 128460 B
(In Voluntary Liquidation)
(a) That HARLESTON TECHNOLOGIES LIMITED is in Dissolution under the provisions of The International Business Companies Act 2000. (b) The Dissolution of the said Company commenced on the 30th day of November, 2016 when the Articles of Dissolution were submitted and registered by the Registrar General. (c) The Liquidator of the Company is Sterling (Bahamas) Limited of 2nd Floor, Saffrey Square, Bank Lane and Bay Street, Nassau, Bahamas. (d) Any person having a Claim against the above name Company are required on or before the 30th day of December, 2016 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved. Sterling (Bahamas) Limited Liquidator
NOTICE
NEXTON PORTFOLIO LTD. (In Voluntary Liquidation)
International Business Companies Act No.45 of 2000 DTA Investments Fund Ltd. (the “Company”) Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of DTA Investments Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 22nd day of November, 2016.
Bennet R. Atkinson Liquidator
The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.
Notice is hereby given that pursuant to Part IX, Section 138(4) liquidation of the above company commenced on the 09 day of December, 2016. Octagon Management Limited of Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, The Bahamas has been appointed Liquidator of the Company.
NOTICE is hereby given that as follows:
LEGAL NOTICE
Notice is hereby given in pursuance of Section 138(8) of The International Business Companies Act, 2000 (as amended), the Dissolution of the above-named company has been completed, a Certificate of Dissolution has been issued and the above-named company has therefore been struck off the Register. The date of the completion of the dissolution was the 6th day of December 2016.
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NOTICE OF DISSOLUTION OF NEVA MANAGEMENT CORPORATION
(c) The Liquidator of the Company is Sterling (Bahamas) Limited of 2nd Floor, Saffrey Square, Bank Lane and Bay Street, Nassau, Bahamas.
NOTICE IS HEREBY GIVEN as follows:
THE TRIBUNE
Ian McConnell Liquidator
_____________________________________ Octagon Management Limited Liquidator
THE TRIBUNE
Tuesday, December 13, 2016, PAGE 5
Sarkis ally: Baha Mar sale ‘classic PLP deal-making’ From pg B1 effectively signalled in recent weeks that it is ‘a done deal’. “I’m not surprised that the Government continues forward in this vein with the Chinese bank and CTFE,” Mr D’Aguilar told Tribune Business, “and I’m sure they’re patting themselves on the back that they’ve struck a good deal and are moving the project forward. “It’s amazing how they’ve not tabled anything in Parliament about this deal, and the concessions they’ve given. While they jump up and down popping champagne corks, we cannot assess how good a deal this is for the Bahamian people. “We have no idea how much this has cost us in terms of all the lawyers and
concessions and trips to China.” Among the many unanswered questions surrounding CTFE’s purchase are the total value of the investment incentives it has received; the nature of these incentives and whether they include VAT exemptions and ‘economic citizenships’ for Chinese nationals; and if CTFE is going to be paying the normal 10 per cent ‘transfer tax’ on the Baha Mar purchase price. The value of incentives and tax breaks granted to Mr Izmirlian and his team was previously estimated at around $1 billion over 20 years, and given that similar will likely have been granted to CTFE, many observers believe the Bahamian public had a right to
Baha Mar deal’s ‘open governance’ conflict From pg B1 involving the Bahamian people’s tax monies and land (Crown and Treasury) “absolutely” should be disclosed publicly. He was speaking after both the Government and Chow Tai Fook Enterprises (CTFE) confirmed the latter had signed an agreement to purchase Baha Mar’s resort assets from the China Export-Import Bank’s special purpose vehicle (SPV), Perfect Luck Assets. While Prime Minister Perry Christie promised that the Heads of Agreement between CTFE and the Government would eventually be tabled in the House of Assembly at an unspecified date, no mention was made of the other deals key to Baha Mar’s completion and opening. This, in particular, includes the Government’s agreement with the China Export-Import Bank for Baha Mar’s construction completion, plus the bank’s agreement with CTFE. Both remain sealed by Order of the Supreme Court. However, the rationale for ‘sealing’ the documents, which Justice Ian Winder said was “to preserve the integrity” of Baha Mar’s sales process, appears to have disappeared given that this has been completed with CTFE’s deal. As a result, some are querying the need to maintain the secrecy, and/or whether the Prime Minister’s and CTFE’s announcements yesterday were “premature” given that the Heads of Agreement has yet to be completed. Mr Myers said the situation “absolutely fits within the mandate of ORG”, telling Tribune Business: “It’s at the pinnacle of what ORG stands for; open and accountable governance. This is another deal that’s in di-
rect conflict with that culture. “Where it concerns either the sale or provision of the people’s land and use of the people’s taxes, these agreements absolutely should be public.” Referring specifically to Baha Mar, he added: “This isn’t a matter of national security. Whose money is it that the Government used to deal with these legal cases and battles? It’s the Treasury’s money. Somebody there was getting paid by us, the people. “That’s got to be millions of dollars. If they’re spending our money writing that deal, we should be able to vet that deal and they should be accountable to the public for the land and concessions of that deal. “It’s our land, our taxes, our income that they’re giving away. We should be party to that and be able to see that. We should be privy to see what they’ve given away that will help us.” Mr Myers said it was vital that the Government, both present and future administrations, “account for what they did”, describing this as the hallmark of the transpar-
know all details given that it is there money and land (Crown and Treasury) at stake. “The sell-out of the Bahamas to the Chinese continues,” Mr D’Aguilar blasted. “The Chinese are definitely running the show. Perry Christie and his crew think they’re running the country, but it’s really the Chinese and they’re telling him what to do. “We can’t debunk that idea unless we see what deal has been struck.... It’s all shrouded in secrecy. Classic PLP deal-making; nothing in the sunshine, all in the darkness. This is the Bluewater deal for BTC all over again.” Mr D’Aguilar, in comments directed to Prime Minister Perry Christie with the upcoming general election in mind, added: “Show us the deal man. If you want us to believe you, show us the deal.
“If the deal is closed, what are you scared of? If it’s such a great deal, stop telling us; let us see it and be happy with you. Show us the deal. The Government hasn’t put us at ease. “Are they so desperate with an election coming in five months that they will come to the Bahamian people saying they have found a saviour, when they have done a deal with the devil,” the former Baha Mar Board member continued. “I want to know if this is above board, and the best deal for the country when the Government wants you to focus on the hotel and the creating of jobs.” Mr D’Aguilar conceded that it was positive for the Bahamian economy that a resolution for Baha Mar appeared to be in sight, given that it promised to employ thousands of Bahamians and create billions of dollars in extra economic activity.
ent governance culture that the Bahamas “must strive to attain”. The Government’s political opponents were echoing similar sentiments yesterday, with the FNM’s deputy leader saying that the only persons still “left in the dark” on Baha Mar were those who should benefit most from its resolution - the Bahamian people. Accusing the Government of being “incredibly arrogant” in its attitude towards the public over its Baha Mar dealings, K P Turnquest told Tribune Business: “The deal has been done, and there appears to be some kind of formal or informal agreement that the Government is willing to sign off on. “The only people in the dark are the Bahamian people, the ones who should, at the end of the day, benefit from any deal done. “It is incredibly arrogant of this government to believe they are the only ones wanting this deal, and being professional about the considerations pertaining to it, and the sensitivities of the deal,” Mr Turnquest added. “The question is: Who are we building this country for? What has been agreed for the Bahamian people in terms of jobs and opportunities? How will this deal benefit the Bahamian people, and at what price?
“If this is a temporary deal already agreed, and in the works, what’s the hold up? What are you hiding from the Bahamian people now?” Mr Turnquest echoed the calls of other politicians and private sector executives for the Government to disclose the value, and type, of the investment incentives that have been granted - both to CTFE on the purchase, and to the China Export-Import Bank and China Construction America (CCA) for Baha Mar’s physical completion. Having witnessed a “plane load” of Chinese workers arrive at the Lynden Pindling International Airport (LPIA) yesterday, the FNM deputy leader called for the Government to disclose how many would be working on Baha Mar’s completion, and the ratio to Bahamian workers - especially given this country’s ongoing unemployment problem. “The proof is in the pudding,” Mr Turnquest told Tribune Business. “We wait to see if a deal has been done, if it’s going to be more talk, what’s involved in the transaction, and what benefits there are for the Bahamian people in terms of long-term jobs and opportunities.”
NOTICE Will Faith Bellot or anyone knowing her whereabouts please contact the firm of Wells Legal & Corporate Services as soon as possible (242) 325-4618/9 or (242) 325-4177
He added, though, that the solution had been dragged out, and reiterated concerns about CTFE’s fitness to own Baha Mar’s casino, which is the largest in the Caribbean and the project’s centrepiece. CTFE’s own statement, which accompanied the Prime Minister’s House of Assembly announcement, revealed little that was not already known. Phase one of Baha Mar’s opening, which is set to begin in April 2017, will feature the casino hotel, casino, convention centre and golf course. CTFE pledged that 1,500 jobs will be generated for Bahamians within this first phase. Once fully operational, Baha Mar Resort will employ thousands more. Recruitment for the casino staff will begin in the New Year, and CTFE said
it was seeking to establish marketing alliances with global gaming companies to drive business to Baha Mar. It is also building a leadership team from major resort and casino brands. Graeme Davis, president of CTFE’s Bahamas subsidiary, said: “CTFE will dedicate significant, ongoing investment and resources towards the pre-opening and opening of Baha Mar. “We will also ensure that the Bahamian people and the region benefit fully from the project, which will create tremendous job and economic stimulus opportunities. “Further, by combining our global hospitality expertise with the vibrant and authentic Bahamian culture, we will create a memorable, unmatched experience for guests of which all Bahamians can be proud.”
Position Available Post of Information and Technology (IT) Manager Applications are invited from suitably qualified persons for the post of Information and Technology (IT) Manager at the Eugene Dupuch Law School, Nassau, The Bahamas. The IT Manager will be responsible for managing the information technology resources of the Law School. The successful candidate must possess BS in Information Technology or equivalent; other relevant technical certifications; and at least 5 years of relevant work experience. The responsibilities of this role will include, installation, maintenance, and repair to hardware; installation and upgrading of software; troubleshooting and resolving problems; management of email accounts for staff and students; planning and budgeting for all IT services; development of IT policies; design of IT solutions and project management; andmaintenance of server and technical support. Applications must be submitted to the Eugene Dupuch Law School not later than Wednesday December 21, 2016. For further details please see go to the Law School’s website at http://eugenedupuchlaw. edu.bs/job-vacancy-it-manager .
THE TRIBUNE
Tuesday, December 13, 2016, PAGE 7
the Lockheed Martin F-35 Joint Strike Fighter is shown after it was unveiled in a ceremony in Fort Worth, Texas. Shares of Lockheed Martin fell yesterday, as President-elect Donald Trump tweeted that making F-35 fighter planes is too costly and that he will cut “billions” in costs for military purchases. (AP Photo)
Trump targets F-35, but aircraft means jobs in 45 states WASHINGTON (AP) — President-elect Donald Trump is vowing to corral the “out of control” cost of the F-35 Joint Strike Fighter. But congressional Republicans and Democrats, aware of the tens of thousands of jobs the aircraft generates in 45 states, will be wary of any plans by Trump to cut the program. A Monday morning tweet from Trump targeting the F-35 doesn’t explain exactly how he’ll save billions of dollars in military purchases while also honoring a campaign vow to rebuild the armed forces. Once Trump is in office, he can propose deep cuts to the F-35 or even elect to cancel the program altogether. But Congress, not the president, controls the government’s purse strings and makes the final decisions about the budget. Built by defense giant Lockheed Martin, the nearly $400 billion price tag
MARKET REPORT MONDAY, 12 DECEMBER 2016
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,926.17 | CHG -13.50 | %CHG -0.70 | YTD 102.22 | YTD% 5.60 BISX LISTED & TRADED SECURITIES 52WK HI 4.25 17.43 9.09 3.55 4.70 0.12 8.23 8.50 6.10 10.60 15.50 2.72 1.60 5.82 9.15 11.00 9.00 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 12.59 2.18 1.31 5.60 6.60 8.56 6.12 6.35 11.81 10.00
1000.00 1000.00 1000.00 1000.00
900.00 1000.00 1000.00 1000.00
PREFERENCE SHARES
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 Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00
52WK LOW 100.00 100.00 100.00
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +
SYMBOL FBB17 FBB18 FBB22
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
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
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
LAST CLOSE 4.06 15.85 9.09 3.52 1.77 0.12 5.60 8.50 5.83 10.49 13.23 2.25 1.55 5.82 9.15 10.95 9.00 6.75 11.93 10.00 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 LAST SALE 100.00 100.00 100.00 109.76 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
CLOSE 4.06 15.85 9.09 3.52 1.77 0.12 5.60 8.50 5.83 10.26 13.23 2.28 1.60 5.82 9.15 10.95 8.74 6.75 11.93 10.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.23 0.00 0.03 0.05 0.00 0.00 0.00 -0.26 0.00 0.00 0.00
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
CLOSE 100.00 100.00 100.00
CHANGE 0.00 0.00 0.00
109.76 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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
VOLUME
290 12,850 47,950
2,000
VOLUME
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
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 16.0 N/M N/M 30.3 15.4 11.5 19.0 25.1 24.3 9.6 11.4 15.0 11.4 13.4 9.6 15.8 0.0
YIELD 2.22% 6.31% 0.00% 4.55% 0.00% 0.00% 3.34% 3.06% 3.43% 3.51% 4.61% 2.63% 2.50% 4.12% 3.01% 0.00% 3.20% 1.78% 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
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
for the F-35 makes the program the Pentagon’s most expensive weapons acquisition ever. Despite the huge cost, the program has strong bipartisan support in Congress, where lawmakers view the aircraft as essential to national security. Lockheed Martin’s stock tumbled after Trump’s tweet, wiping out nearly $2 billion of the company’s market value. The company’s shares fell $6.42, or 2.5 percent, to close at $253.11 Monday. The F-35 program made up 20 percent of Lockheed’s total 2015 revenue of $46.1 billion. U.S. government orders made up 78 percent of its revenue last year. “Whoever has this airplane will have the most advanced air force in the world. That’s why we’re building the F35. That’s why it’s important to not only the U.S., our partners and our partners like the Israeli Air force to have this airplane,” said Jeff Babione, general manager of the F-35 program, at a base in Israel.
International Footprint Israel and several other U.S. allies are also buying the F-35, expanding the program’s international footprint. Defense Secretary Ash Carter visited Israel on Monday as Tel Aviv received the first two nextgeneration F-35 fighter jets that will help preserve the country’s military edge in the volatile Mideast. The F-35, which uses stealth technology to avoid being detected by radar, is being built in different configurations to be used by the Air Force, Navy and Marine Corps. The Navy’s version, for example, is designed to take off and land on an aircraft carrier. Current plans call for the United States to buy nearly 2,500 F-35s. Close to $13 billion will be needed annually between 2016 and 2038 to hit that procurement number, according to the Government Accountability Office. While the F-35 had massive budget overruns early on, the cost has stabilized
and even dropped a bit following tough negotiations between the Pentagon and Lockheed Martin, according to Todd Harrison, a defense budget expert at the Center for Strategic and International Studies. “Trump is unlikely to squeeze more blood out of this rock,” Harrison said. Lockheed said that it has worked to lower the price of the F-35 by 60 percent and expected the aircraft to cost $85 million each in 2019 and 2020. But the company’s estimate appears to omit the price of the engine and the cost of development. When those elements are added in, the cost per F-35 in currentyear dollars is closer to $138 million, according to Harrison. Companies from 45 states are involved in the F-35’s production, with Texas, Georgia, California, Arizona and Florida playing the leading roles in testing and manufacturing the jet fighter. The company is teamed with more than 1,250 domestic suppliers to produce thousands of components ranging from highly sophisticated radar sensors to parts of the aircraft’s fuselage, according to Lockheed Martin. Overall, the F-35 program is responsible for more than 146,000 U.S. jobs, the company said. The Lockheed Martin plant where the F-35 is being built is located in Texas Republican Rep. Kay Granger’s district. She’s vice chair of the defense appropriations subcommittee. Rep. Mac Thornberry, the Republican chairman of the House Armed Services Committee, represents the district next door to Granger’s. In a statement Monday, Granger hailed the F-35 delivery to Israel, calling the aircraft “what we need to keep our two countries safe in these dangerous times.” Thornberry’s committee has supported buying more F-35s than the Obama administration had asked for in its budget request. The F-35 will replace an aging inventory of U.S. aircraft that many lawmakers believe are becoming increasingly unsafe to fly.
PUBLIC NOTICE INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, SERVILIA LOUIS of Carmichael Road, Nassau, Bahamas intends to change my name to SERVILIA MERIZIER. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P. O. Box N-742,Nassau Bahamas no later than Thirty (30)days after the date of publication of this notice.
NOTICE
NOTICE is hereby given that CALVIN JEAN BAPTISTE of #1 South Bahamia, Rose Way, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 13th day of December, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
PAGE 8, Tuesday, December 13, 2016
THE TRIBUNE
Oil spurt drives Dow to record despite drop for most stocks
NEW YORK (AP) — Stocks mostly fell on Monday, but a spurt in oil prices helped push the energy sector higher and the Dow Jones industrial average to another record. The Dow rose 39.58 points, or 0.2 percent, to extend its record set on Friday. The Standard & Poor’s 500 index, which is the benchmark for many more investors than the Dow, pulled back from its own record, also set
on Friday, and dipped 2.57 points, or 0.1 percent, to 2,256.96. The Nasdaq composite fell 31.96, or 0.6 percent, to 5,412.54. The Dow was able to make the lone gain among the big three indexes partly thanks to Exxon Mobil and Chevron. They rose with oil, which touched its highest price since the summer of 2015 after OPEC persuaded Russia and 10 other oil-producing nations to announce
production cuts over the weekend. Energy stocks in the S&P 500 rose 0.7 percent, and they were among the six sectors to rise of the 11 that make up the index. Still, nine stocks fell on the New York Stock Exchange for every five that rose, and the day’s loss marked the end of a six-day winning streak for the S&P 500, its longest such run since June 2014. Some investors say they’re
taking a more cautious, waitand-see approach following the market’s strong run over the last month. The S&P 500 has climbed 5.4 percent since the presidential election on expectations that proposed tax cuts will lead to higher profits for businesses and less regulation may create stronger economic growth. "Unless and until we see hard evidence of the economy picking up, we’re going
to take these profits as a gift and pocket them," says Rich Weiss, senior portfolio manager at American Century. Mutual funds that he oversees have been paring back their stock investments in recent days and weeks as the price tags for them have shot higher. Donald Trump’s surprise presidential election victory has also driven expectations for inflation higher, which
have helped to drive bond yields upward. Inflation is one of bond investors’ biggest fears, and they’re demanding higher yields in order to compensate for the perceived increase in risk. The yield on the 10-year Treasury note rose above 2.50 percent to its highest level since autumn 2014 before settling back at 2.47 percent on Monday, where it was on late Friday.
THE TRIBUNE
Tuesday, December 13, 2016, PAGE 9
b o dy and m ind
Buy fresh, buy local, eat healthy By ALESHA CADET
Tribune Features Reporter
acadet@tribunemedia.net
THE Island House’s first Farmer’s Market earlier this month, at which Bahamians took full advantage to get their hands on fresh produce grown locally, is set to become a weekly winter event, organisers said. Curated by the Field To Fork Community Farm team on December 3, The Island House’s events lawn, Mahogany Hill, Western Road, was filled with vendor booths that featured Brer Bookie Meat Co’s meats and sauces, Abaco Big Bird Farm’s limes and avocados, Healthy Concepts’ breads, Pop Stop’s fruit popsicles, My Bahama Sponge’s natural Bahamian sponges, Little Bee Dancer’s honey and lionfish, Nature’s Way poultry farm eggs and Bahama Island Farms fresh produce. Field to Fork is a familyoperated, mixed vegetable farm that uses sustainable production methods that protect the environment and consumer health. But for those who missed this great chance to buy fresh, buy local, the Farmer’s Market is set to be hosted each and every Saturday from 9am to 1pm on the events lawn until May, 2017. The side gate to The Island House lawn will be open for ease of access. “We are thrilled to partner with Field To Fork Community Farm who are curating the market for us and bringing a host of local farmers and produc-
The Island House Farmer’s Market set to become weekly winter event
ers of authentic Bahamian products together. It is like a market experience where you go from tent to tent to just pick what you need in your kitchen for the week,” said Anja Allen, Marketing Department representative at The Island House. She believes the Farmer’s Market itself is going to fulfil The Island House’s vision to support local farmers, an initiative that has been on the wish list for a long time. “It reflects how our restaurants work. We use fresh produce and we have had a lot of people reach out to us especially farmers and producers asking how they can get their products out there so we are really doing this to support them and to support the community here. There are so much that can actually be
to enjoy the winter weather while experiencing the best of Bahamian produce and products. “I was inspired to study agriculture before graduating from high school in 1991 to help reduce the country’s food import bill,” said Dr Selima Hauber. “I then pursued BS, MS and doctoral degrees in horticulture and returned home in 2007. Now that we’re actually doing it, I realise how important providing fresh produce is not only for economic reasons but equally as importantly the nation’s health. This has become the primary reason I’m doing this now. The epidemic of Noncommunicable diseases (NCDs) threatens the successful, sustainable development of our nation. The World Health Organization (WHO) warns that small developing nations like ours stand to suffer the most from such high rates of NCDs.”
farmed here on the island versus running to the supermarket to buy salads that are shipped in from God knows where,” said Anja. Patrons can look forward to The Island House Farmer’s Market to expanding one day into a festival activity where there will be live performances, art and craft as well as live cooking demonstrations added to the vendor list. Field to Fork organisers, Tim and Dr Selima Hauber, are excited about offering an experience that inspires people to eat well, enjoying fresh, healthy food and recognising that they can produce amazing food in the Bahamas. They believe The Island House has created a beautiful environment and it is the perfect backdrop for families
How to keep your mouth healthy at Christmas The Christmas season is finally upon us! It’s a time we celebrate the birth of Christ. A time of decorating trees, putting up lights and sharing the Christmas spirit with others. But it is mostly a time of eating and drinking. Although benny cake, coconut cake and fudge all taste great, it is important to consider the negative effects excessive amounts of these treats can have on our oral health. If we are not careful, Christmas can wreak havoc on our mouths. Here are four tips to ensure you do not start the New Year with expensive dental bills by helping you maintain your dental health going into 2017.
The First Noel The first tip is a simple one: hydrate yourself during the season. By drinking more water, you will eat less. During this time, we tend to drink lots of sweet/sugary drinks, which help to create the perfect scenario to put you at risk for developing cavities. If we alternate between the sweet drinks and water this will help to not only limit sugar exposure but wash away sugar on the teeth. A lot of
avoid chipping or fracturing your teeth during the holidays. No one wants to have a dental emergency during this festive season with all the turkey, ham and fruit cake there is to eat.
The Most Wonderful Time of the Year
Dr Tamika Ferguson people may say water is a boring and tasteless drink but you can always spice it up by adding a lemon wedge, mint sprig, strawberries etc. Water is a necessity during this Yuletide season!
O Come All Ye Faithful Be faithful to your regular oral care routine. We may be in a rush to go to that Christmas party or open presents but we still need to take the time to brush properly and floss. The normal amount of time to brush is at least two minutes. A good way to make sure you are brushing for the full two minutes
Eat the candy cane and other sweets at Christmas but limit how often we indulge in these treats is to hum one of your favourite Christmas carols. Our teeth take a serious hammering during this time of the year; the worst thing we can do is neglect our daily routine.
All I want for Christmas is my two front teeth Do not use your teeth/mouth as
a tool or storage compartment. The holidays come with having to wrap presents and decorate our homes. Your mouth is not a place to put scissors or hold tape while gift wrapping. Our teeth are not tools. They are not meant to open bottles or open packages. Using your teeth for these purposes is not a good idea. Use the appropriate tools to
Doctors Hospital goes smoke-free IN ITS continued efforts to encourage staff, patients, visitors and the wider public to adopt a healthier lifestyle and also to create the safest possible environment for those who frequent the institution, Doctors Hospital has become a smokefree environment. “While we have long prohibited smoking inside our buildings, in order to create the healthiest surroundings for patients, visitors and our Associates, Doctors Hospital now requests that smokers refrain from lighting up while anywhere on property,” Charles Sealy, CEO, has announced. The smoke-free environment extends to the areas
near all entrances to and exits from the main hospital as well as satellite buildings on Collins Avenue, Shirley Street and Dowdeswell Street, all hospital parking lots and also the outdoor patio within the centre of the main building that has often been used as a smoking area. Doctors Hospital is the first Joint Commission International-accredited acute care hospital in the Caribbean and adheres to the standards set out by that organisation. “We at Doctors Hospital are, in fact, going beyond the JCI requirements regarding tobacco use,” Dr Charles Diggiss, Chief Medical Officer, said. “JCI
requires all of its accredited hospitals to prohibit smoking in buildings and allow it only in places that are ‘physically separate from care, treatment and service areas’. We are going the extra step with this because we know that in addition to the well known health problems associated with tobacco use and exposure, when it comes to hospitalised patients, smoking hinders wound care, increases infection rates in surgeries and is the most common cause of poor birth outcomes.” The new policy, which will also protect non-smokers among the hospital’s staff and patients from the known hazards of second-
hand smoke, is being communicated throughout the hospital so that all patients and visitors are aware of the change. “We have worked with our Associates to educate them on the importance of this new policy against tobacco use at the hospital and have asked them to assist in communicating the policy and the reasons for it to patients and visitors,” said Paul Haven, Vice President of Human Resources. “Doctors Hospital has a responsibility to protect those in our community while promoting and supporting a culture of living a healthier lifestyle.”
Christmas is considered the most wonderful time of the year. Family and friends gather to eat, drink and be merry. While we are surrounded by the foods we love, it is important to remember overindulgence is never good. Moderation is key. Yes, we can eat the candy cane and other sweets but limit how often we indulge in these treats. Further, chewing sugar-free gum after a meal/snack will help to stimulate saliva and neutralise acid. Not to sound like a Grinch but to maintain oral health please do not over eat. By following these tips, your teeth will not suffer this Christmas season. You should end the holidays as well as you started. For January, 2017, schedule your dental appointment for an examination and a cleaning to start your year off right. Happy holidays!
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THE TRIBUNE
Organise and plan - keys to a stress-free Christmas IT IS hard to believe that another year has come, and almost gone. For me, this year has definitely been a blur. The most wonderful time of the year is well in gear, and it’s hard for most of us to learn to relax and enjoy the moment. It’s the enjoy part, that is really important. With all that our lives have going on, trying to keep up in a world that seems light years ahead, how do you make sure that you take time for you and learn to sit back and smell the roses? A good friend once cautioned me to take time out of my life to enjoy all its beauty: the beauty of watching my children learn and grow and the beauty of being a part of this beautiful world, and all its magnificent wonder. It’s hard to do that when you are full speed ahead on a goal that you have set for yourself or fully consumed by all the things going on in life. Whether it is getting that promotion at work, training for a marathon or getting a higher education, we have become really good at over committing ourselves with task upon task. So this Christmas, give yourself a call to action; a call to take back the once loved, busy, crazy and hectic season of Christmas,
Bun In The Oven
Bianca Carter and commit to enjoying it. The most sensible thing to do is to know your stress triggers and avoid them or find ways to work through them. If you are an organising queen, if you panic when things are last minute and not done on time, then here is your siren to start preparing and packing those Christmas gifts now. Do a little a day, and it will be done in no time. And if wrapping stresses you out, find a teenager and pay them to do it - I’m sure they will appreciate some Christmas money.
Free breast screening to help Eleuthera By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net IN AN effort to raise awareness of breast health and the importance of early detection, several organisations have teamed up to provide the screening for at-risk women on Eleuthera, Cat Island, Long Island and Exuma. The free breast screening programme is a partnership between One Eleuthera Foundation, Cancer Society of The Bahamas, Cancer Society of Eleuthera (CSE) and Rotary Club of Eleuthera and is expected to launch early next year. It will provide mammography
and ultrasound screening. CSE is leading the programme and screenings will take place weekly at their Wellness Centre in Palmetto Point. One Eleuthera Foundation has worked closely with CSE since its inception in 2012. Based on information gathered by CSE and research by Dr Judith Hurley, from the Breast Cancer Unit of University of Miami, it became evident that Bahamian women needed the help of the organisation, Gacintha Gordon, development officer, told Tribune Health. “Research by Dr Hurley reveals that 24 per cent of Bahamian women have mutations of the BRCA1 and BRCA2 breast
If present wrapping stresses you out, find a teenager and pay them to do it they will appreciate some Christmas money.
Keep heavy topics out of the party. No one wants to get into a heavy debate at Christmas and if you happen to have one of those confrontational family members that is just itching to talk about those things like politics, find a nice and appropriate way to change the subject! This holiday, give yourself-the powerhouse woman, wife and superhero mom, a gift from you. Take time to smell the roses, to appreciate all the good things that life has to offer and don’t sweat the small stuff. Organise and plan early, spend time with your family, and have fun. You deserve it! Here’s to another year of Yuletide cheer! Love & Hugs!
I find that once the wrapping is done, all you need to focus on is cooking and delivering gifts to your loved ones, which is super fun when it’s not the night before Christmas. Most family gatherings at Christmas are “pot luck” style, so start planning the menu now or at least what you’re planning to bring. Planning early gives you the opportunity to experiment,
it’s fun to try something new. Cooking is also a fun thing to do with the kids. Quick, easy and kid-friendly recipes are a great way to disengage from all of the clutter in your head and spend time with the kids. Give them little jobs to do that they can’t really mess up, like stirring and pouring. They like to help and, of course, love to eat whatever holiday treat you have prepared.
• Bianca Carter is a Certified Lactation Counsellor (CLC) 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
cancer genes, putting them at a higher risk for the disease. This percentage is greater than the world’s highest reported rate of breast cancer, which was recorded in women of Ashkenazi Jewish descent at 11 per cent. Further, Hurley’s research indicates that nearly 45 per cent of Bahamian women who are diagnosed with breast cancer at are stage three or four, compared to only about 12 per cent of female breast cancer patients in the United States,” she said. This prompted the organisation to develop a Breast Cancer Outreach Programme to raise awareness of breast health. It has been funded by Susan G Komen over the past three years. In 2014, a study completed by Emory University’s Global Health Institute in collaboration with CSE, One Eleuthera Foundation and Rotary Club of Eleuthera indicated that there were 3,000 women on the island who were at recommended screening age. Currently there is no mammogram or ultrasound screening available on Eleuthera.
“This is difficult on an island where unemployment is high as 70 per cent in some areas, according a 2005 EDAW report. Sixty-nine percent of the women surveyed indicated that they could only afford up to $100 for a mammogram or ultrasound,” she said. “This is a major barrier for women who cannot afford to travel to New Providence. This data highlighted the need for mammogram and ultrasound services on the island of Eleuthera to help decrease the high rate of Bahamian women being diagnosed with late stage breast cancer which would increase their chances of survival. A programme we developed, Eleuthera Imaging Program, has been building partnerships and fundraising to make mammogram and ultrasound services possible on Eleuthera,” Ms Gordon said. Mammography and ultrasound facilities will be placed in the Palmetto Point Wellness Centre on Eleuthera. Over $230,000 has been raised to support the programme to date. Additionally,
USNORTHCOM (which coordinates US homeland defence), has donated a mammogram machine to the Eleuthera Imaging Programme through the United States Embassy in Nassau. This gift will be facilitated by the government, which is also providing an administrator and technician for the screening facility. The foundation is also working with local and international Rotary Clubs, as well as other partners, to finance the ultrasound component of the project and to expand breast cancer education and outreach. Ms Gordon encourages women to take part in the screening programme because it has the potential to save a person’s life. One Eleuthera Foundation is a Bahamian non-profit organisation committed to sustainable development on Eleuthera. Its role is to find the resources needed to effect positive change in education, health, culture, heritage, the economy and the environment. For more information on the breast cancer screening initiative contact 242-332-1804.
Vixens and bitter women
A
ccording to many, women should know their place - and that is not to be in the public sphere. They must be submissive and allow men to be men. We have strict behavioural codes for men and women. These we talk about being defined by permitted gendered roles. Men should be dominant and women submissive. Women should be domesticated and homebound and men should control the public sphere (unless a man lets his wife out of the house). If women ‘choose’ to work, they should not be in masculine occupations or professions as this will diminish the stature of their male colleagues. These seem to be fixed ideas of what gendered constraints allow. If a woman chooses to stray from sanctioned parameters, then society criticises her. This straying could be as simple as talking in a public space when it is deemed to be a male-dominated space. Ironically, politics remains one of these spaces. If the challenge to the leadership had come from a man, would the public response be different? Or can we only see leadership being handed down from on high to those men we see as being classified as worthy enough to govern - and who decides that? With the failure of the gender equality or citizenship (as it has become known) referendum, it has become clear that society is rather sexist. However, the Bahamas is in the company of Grenada in this as well. The fear created was not of women gaining rights, but of same-sex marriage becoming legal. So, all the facts were simply vanished under the weight of the fear mongering brought about by many people who saw this as a way to protect society from corruption. It also showed that we agree that women do not need to have rights. This kind of thinking has come to light once again by the battle over leadership of the opposition by a woman. When the initial battle was fought very publically and Loretta Butler-Turner lost the bid to lead because the Free National Movement party supported the current leader, Dr Hubert Minnis, it seemed clear that a woman
Dr Ian Bethell-Bennett
Why women who seek to lead are criticised and why the masculine world of politics is offlimits to them could not win a political leadership role, and least this woman because she was too pushy and would not ‘sit small’. Women must know that they are to ‘sit small’ and wait to be called upon, otherwise, they will be called pushy and masculine. Over the last few days, the criticism against Mrs Butler-Turner indicates that she has fallen into the ‘not being sufficiently female and submissive’. As has been stated in countless forums, ‘if she is a good woman, she should be submissive to male leadership’. The interesting thing is that, if we were to follow this thinking, we would never have become an independent nation. The thought is, much like the criticism hurtled at Haiti, we should know our place and not attempt to be what we cannot be as we will fail. t is even more interesting that people have rallied against the woman and challenged her for her audacity to challenge the leadership. Only men can lead, they claim. Leadership is masculine. This underscores the thinking that the Bible rules the world and, if the Bible says something in a parable, it cannot and shall not be challenged. According to many women and some men, the leader of the Opposition is divinely cho-
I
Woman in a man’s world: Loretta Butler-Turner leads a breakaway group of Free National Movement MPs and challenges the established political status in the Bahamas. Photo/Shawn Hanna sen by God; he is anointed to be leader and shall never be moved. So, there are at least two biases revealed: one, that women cannot lead and, two that the divine right of Kings still maintains in the country. Following the latter line of thought, emancipation from slavery probably should never have occurred. The industrial revolution, the Enlightenment and the Renaissance should never have
The former point is also revelatory. We see that women are inferior, must be mothers but not leaders and that they shall always submit to the male leader; in marriage he is the husband, in life he is the man in charge. They may lead unofficially in the home, but even that must be kept under wraps. Women shall not be boss, according to the comments made. The world and the political world, especially, is masculine
“According to many women and some men, the leader of the Opposition is divinely chosen by God; he is anointed to be leader and shall never be moved.” occurred either as they allowed the divine rule to be questioned and those subjects who were held as chattels in earlier times to become human beings with rights. This kind of logic is extremely paternalistic and patriarchal. One should never challenge one’s father because father always knows best. If leadership cannot be challenged then we cannot be free, nor can we choose to elect whomever we choose to elect; they will simply be put there forever and become father.
and off limits to women. This is the same kind of thinking that has allowed Hillary Clinton to garner votes among educated women but not among less educated, rural women in particular parts of the United States. How did Margaret Thatcher succeed? If she had been Bahamian, could she have ever been Prime Minister? Would the current British Prime Minister, Theresa May, be allowed to govern without being called a vixen, bitter woman or jezebel? If she
challenges men, she must be bitter. If she chooses to succeed at a public profession, she is being demeaning to her male counterparts. Why? Why do we assume that only men can lead and only particular men have the divine right handed to them by God can even attempt to lead? It is amazing that many of the women aiming insults at these public figures who happen to be women are the very people who are educated and independent, yet they are patriarchal. Many also believe that if a woman doesn’t ‘sit small’ and be quiet when she is in the presence of a man, she should be disciplined. This is simply another justification for violence against women (VAW). It shows that we also believe VAW to be good and justifiable for keeping a bitter woman or vixen in line. A woman steps out of line when she challenges authority which is always male. If we think like this, how did slavery end? Or is this too far removed (and so no longer a part of Bahamian history) for anyone to think about? Can we ever hope to undo our mental chains and shackles? Or are all women who choose to lead jezebels, vixens and bitter?
THE TRIBUNE
What’s next for you? As 2016 enters its final few weeks and we look forward to the birth of 2017, many people will begin to look back with regret or look forward with glee. No matter which position you find yourself in, you must decide ‘what’s next for you?’ Whatever is next for you will require time. It is baffling the unproductive ways in which so many use their time. Yes, we do live in a paradigm of distractions. However, you are in control and must be selective in the way you use your time. You see, your time is not only your most precious resource; it actually levels the playing field. Consider this: we each get 24 hours per day. Be you ‘wealthy’ or ‘poor’ you get the same - 24. One of the best kept secrets of success is that successful people make better use of their time. They realise that their success is directly tied to the productive use of time and they are driven to do more with their 24 hours, so to speak As you ponder what’s next for you, understand that your time is a major factor. Taking time to contemplate what you will do next in your life is of enormous value. Try not to get too overwhelmed by the results you see showing up - instead, focus more on the process. Every successful outcome begins with a successful process. The farmer knows that a bountiful harvest is only the result of the enriching process of cultivating, planting and nurturing. Another point of note is the idea of blaming others. While it may be easy, blaming others for your perceived failures is another unproductive use of your time. Blaming changes nothing. You are better off
“Blaming others for your perceived failures is another unproductive use of your time. Blaming changes nothing.” figuring out how to take responsibility. Early on in my life I came to accept that nobody - and I mean nobody - ought to be held more responsible for my life than me. It is my life - I am responsible - plain and simple. The same is true for you: it is your life, you are responsible, full stop. Taking responsibility empowers you to decide what’s next for your life. Whether you agree or not, you are the driving force behind your life. At any time you can choose to stay the same or rewrite the script to move your life forward. Taking the latter position will enable you to select better choices and make more productive use of your time. Now here’s the catch ... and there is always a catch. You cannot become a better person if you are spending your time around, negative bitter people. Bitterness serves only to overshadow your betterment. Therefore, you must remove yourself from negative, bitter people and places. This includes your media intake. Absorbing bitter quality movies, music and conversations will not produce an improved outcome. Your mind takes the shape of the information you feed it. As we say, ‘garbage in, garbage out’. Find media programmes that inspire you and provide positive food for your mind. After making such adjustments, begin the process of choosing what’s next. A good starting place is to reevaluate your sense of identity. Sadly, millions of people self-identify according to their title, status or what they could build or buy. The difficulty with this form of
identity is if who you are is based only on things you own and you lose all your stuff, what happens to your identity? Consider adopting this quiet truth: you are more than what your money or status can buy. Your self worth is woven into the universal tapestry that upholds the sun, moon and stars. Can you imagine that? Ac-
cept this unlimited identity and take time to really decide what’s next for your life. Perhaps you desire to embark on uncovering your purpose - going back to school or finally doing that one thing you have been promising to do for years. Whatever you choose, begin to create a vision and set goals. Understand that
every vision needs a goal, every goal needs a plan and every plan needs a strategy. Leader to leader, you are the CEO of your life and it is your responsibility to choose what’s next. Take time to re-define yourself and set goals that drive you to take your life higher. The courage and confidence of choosing what’s next is a great step towards living an
Tuesday, December 13, 2016, PAGE 11
Michelle Miller Motivationals
empowered life. Yes, you can do it! • Michelle M Miller is a certified Life Coach and Communications/Leadership Expert. Questions or comments can be sent to email coaching242@yahoo.com or telephone 429-6770 or visit www.talktomichellemmiller.com or snail mail to PO Box CB-13060
Michelle M Miller
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TUESDAY, DECEMBER 13, 2016
Artworks by Monika Cunningham, who says “no one can see what is in my mind but me or foresee my piece and that for me is a thrill”.
A passion for the healing arts By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net THE “special” way Monika Cunningham drew stick figures during art class in the first grade was a clear indication that she had a talent that required nurturing if her full potential was to be realised. Encouraged by her first grade teacher at Xavier’s Lower School, a flame was ignited in Monika that has yet to dim. In fact, as long as she has the ability to produce art, her passion will burn continuously. The 18-year-old aspiring artist is currently studying Fine Art and Marketing at the University of Central Arkansas. She received top scores in the country for the art and design in the Bahamas Junior Certificate (BJC) examinations and overall top scores in art in her graduating class at St Augustine’s College this summer.
Artist profile Monika Cunningham
She also started her own t-shirt company, MoniAnne Designs, in 2015 which continues to grow. “I am very passionate about art and think it is important to try to develop the art perspective of Bahamians so we can appreciate our culture’s true value. I set extremely high goals for myself and I work on my dreams every day,” Monika said. Her dream is to become a local art legend by constantly creating high quality art work that has the power to provoke thought and emotions in viewers and she hopes the work featured in her upcoming solo showcase “EleMents” does just that. The showcase, which bears the slogan and hashtag “Art heals”, will be held at St Francis Xavier Cathedral on December 21 from 6.30 to 8pm. The pieces in the show seek to foster an appreciation for the natural aspects of life and understanding its connection to human beings. “It reflects the beauty of nature and how sometimes we can learn
a thing or to from just observing our surroundings,” Monika told Tribue Woman. “My goal was to emphasise the things we may take for granted like water, animals and wisdom. Some of the pieces were created after the reflection on the events of Hurricane Matthew and how I believe that powerful, traumatic storm came to remind us to live humbly and be grateful and graceful for the beauty around.” Inspiration for Monika comes from her surroundings, the natural environment or the people she comes into contact with. “I use my art as a way to express myself and I hope to share that with others too. If you are upset, depressed, joyful or inspired use art to express it. It doesn’t have to be painting; it can be music, writing, sculpture etc. “I love art/painting because you can literally create whatever you want. There is no such thing as messing up. I feel the paint moving across the canvas from the brush is calming. It is also
empowering because I am in control. No one can see what is in my mind but me or foresee my piece and that for me is a thrill,” she said. Monika’s work is comprised primarily of acrylic paintings. However, she also creates semirealistic renderings, graphic design art for her t-shirts and a little bit of Junkanoo art work. “My goal is to become one of the Bahamian art legends like Brent Malone or Marco Mullings who have helped shape my art career. I also want to become internationally known for my work. I also want to own an advertising agency and art gallery and to inspire persons around me helping expression and communication to improve,” she said. Monika was one the youngest artists to exhibit in the annual Wine and Art Festival at the Bahamas National Trust. She was also a finalist in the Atlantis Aspiring Artist Competition and the Central Bank art competition this year.
Going vegan is a healthy lifestyle change Chef Shanique Bodie By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net HAVING over 12 years experience in the culinary field has had more influence on Chef Shanique Bodie’s life than she had ever imagined. At this point it is much more than a job for her - it is a way a life. She believes a person’s food intake should be their medicine at the same time. “People who eat a plant-based diet can live a longer, healthier happier life,” she told Tribune Woman. Shanique used her professional expertise and culinary experience of competing locally and internationally to open her own vegan restaurant, now known as Eat Right Delights, Ole Tack Plaza, at the junction of Market Street and Wullf Road. “Eat Right Delights was a product of my husband as a result of a lifestyle change that we made,” Chef Bodie said. “I applied my culinary skills to my
lifestyle to share with everyone and Eat Right Delights was born.” She said the restaurant’s goal is to assist the masses in transitioning to “the original diet” as stated in Genesis chapter 1:29, which reads: “I give you every seed-bearing plant on the face of the whole earth and every tree that has fruit with seed in it. They will be yours for food.” By providing natural plantbased foods at an affordable price, Chef Bodie said they look forward to also offering fine dining services in the future. “Right now we provide catering take away and delivery services for breakfast and lunch, raw meals, desserts and beverages all made from scratch. Along with vegan cooking classes. Customers are pleased with the services we offer and return on a regular basis. Our plan is to finish this year and begin next year stronger than we began, believing there is always room for improvement to better serve our customers needs and desires for better health,” said Chef Bodie.