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TUESDAY, FEBRUARY 7, 2017
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Bran: ‘Crime is killing economy’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Democratic National Alliance’s (DNA) leader yesterday warned that “crime is killing the economy” in multiple ways, arguing that the annual $434 million cost to the Bahamas was actually an under-estimate. Branville McCartney told Tribune Business that the Inter-American Development Bank (IDB) report, which suggested that crime cost the Bahamas almost 5 per cent of its annual economic output, did not appear to include corruption
Says IDB’s $434m cost is underestimate
Bahamians ‘live in paradise, but paralysed by fear’
DNA leader Branville McCartney at the We March march.
RBC economist ‘too ‘No political party is superficial’ over VAT committed’ to cutting Govt size NEIL HARTNELL Tribune Business Editor squander conclusion By Sir Franklyn: Fear of nhartnell@tribunemedia.net By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A former finance minister yesterday criticised Royal Bank of Canada’s (RBC) top regional economist for reaching a “too superficial” and “selfserving” conclusion that the Bahamas is squandering its Value-Added Tax (VAT) revenue windfall. James Smith told Tribune Business that Marla Dukharan’s statements at last week’s RoyalFidelity Bahamas Economic Outlook conference were not the product of “rigorous analysis” of this nation’s fiscal predicament. He argued that her conclusions were not grounded in evidence, and failed to place the Government’s financial woes within the proper “contextual framework”. “I thought it was, in some instances, a bit too superficial for a chief economist,” Mr Smith, a former minister of state for finance and Central Bank governor, told Tribune Business. “The conclusions were not based on a rigorous analysis, and set in a contextual framework. She’s put out a broad statement that we had a good implementation of VAT, but we’ve squandered it by overspending.” Mr Smith, now a Ministry of Finance consultant, implied that he expected
votes loss too great
Ex-minister: ‘More rigorous analysis’ was required Yet not disagreeing with broad finding on Bahamas Govt enraged by damning fiscal assessment
James Smith someone of Ms Dukharan’s stature would have produced more evidence, analysis and research to back up her comments at the conference. He added, in particular, the RBC’s top Caribbean economist had failed to account for the impact of Hurricanes Matthew and Joaquin on the Government’s finances, which See pg b4
Shrinking the size of government will be extremely hard to achieve in the Bahamas, a well-known businessman believes, because “no political party is committed to it as a philosophy”. Sir Franklyn Wilson told Tribune Business that none of the major parties suggested in their names that they were wedded to a ‘Conservative’ political philosophy, which traditionally means a commitment to socalled ‘market forces’ and smaller government. And the Arawak Homes chairman suggested that a fear of losing general election votes had further deterred governments from reducing the size of the public sector, given the potential job losses that could result. See pg b5
‘Easier for politicians’ to talk of new social initiatives Bahamas needs ‘Conservative party’ to shrink
Sir Franklyn Wilson
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Aliv works with majority owner so ‘no cannibalising’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
Doesn’t include corruption, white collar crime
and so-called ‘white collar’ crime. Had it done so, he suggested that the Bahamas’ See pg b5
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Aliv and its majority shareholder were yesterday said to be co-ordinating their respective capital raisings to ensure they will “not cannibalise” each other, with both looking to close in the 2017 first quarter. Gowon Bowe, one of the Government’s advisers on the HoldingCo share placement, told Tribune Business that Aliv had greater “flexibility” to target a wider range of potential investors for its $30 million debt offering. HoldingCo, the entity that holds the majority 51.75 per cent equity stake in Aliv’s operating company, NewCo, is instead seeking to sell 100 per cent of its equity to Bahamian institutional investors via a private
HoldingCo also eyes Q1 for its $70m placement Investors pitched at same time for around $100m total ‘Some similar sources’, but ‘more flexibility’ for Aliv share placement. While acknowledging that HoldingCo may be targeting some of the same potential investors as Aliv, Mr Bowe said the former was restricted to focusing on the likes of pension funds, mutual funds and credit unions. This is due to the See pg b4
Chamber chief calls for end to prison ‘blackhole’ By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net The Chamber of Commerce’s chief executive yesterday called for all Fox Hill Prison inmates to be placed in a mandatory work programme that would finance their incarceration, so that the funds to finance their jailing do not fall into a “blackhole”. Edison Sumner, who is also a member of the Parole and Re-entry Steering Committee (PRSC), told Tribune Business that the issue of re-offending by released inmates must be addressed, with one potential deterrent being to ensure
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Urges ‘mandatory work’ scheme for all inmates Would see prisoners finance own imprisonment they are engaged in productive work. The Ministry of National Security projects that 95 per cent of incarcerated criminals are expected to re-enter society over the next 10 years, with statistics indicating that 45 per See pg b4
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Flying Dutchman expands to Andros The Flying Dutchman expands to North Andros. Pictured at the official opening and ribbon cutting are, L to R: Milo Butler III, director; Damian Butler, director of liquor operations; Rochelle Butler, chief financial officer; and Leroy Archer, director, Milo Butler Group of Companies.
The Milo Butler Group of Companies has expanded its Flying Dutchman liquor store brand to North Andros with the opening of its inaugural location on the island. The store is the fourth location for the company’s growing liquor division, and the first operation outside of New Providence. Located on Queen’s Highway, the 1,000 square foot store features the Flying Dutchman’s signature interior décor, including oversized oak barrels lined with products. The store also offers a customer experience to match its fellow outlets in Nassau. Within the past two years, Milo Butler has opened new locations in Cable Beach, Carmichael and now North
Opens first store outside New Providence Andros. The original Flying Dutchman liquor store, located on Baillou Hill Road, opened more than 25 years ago. The brand’s expansion is a key component of Milo Butler’s overall growth strategy. “The Flying Dutchman brand continues to be a significant part of our portfolio. This is the third location we’ve successfully opened in less than 24 months,” Franklyn Butler, the Milo Butler Group of Companies’ managing director, ex-
plained. “We’re strategically positioning ourselves, catering products to the clientele attached to each location. What remains a consistent thread is the level of customer engagement, product variety and value. Over the next few years, we will continue to seek additional opportunities to expand our reach in the market.” To commemorate the North Andros store opening, the Flying Dutchman held an official ribbon cutting and grill n’ chill event on Saturday, January 28. The company also uses an integrated website, www. flyingdutchman.com, to connect with clients and offer door-to-door delivery services or site-to-shop pick-ups.
PwC launches risk mitigation seminars PricewaterhouseCoopers (PwC) has launched a seminar series to tackle newly-emerging threats and opportunities that have the potential to disrupt business activity. The accounting firm’s ‘Better risk management, better business performance’, which took place at the British Colonial Hilton, looked at the practicalities of identifying and managing business risks. It explored ways to do this that are not only proactive and defensive, but flexible enough to anticipate and prepare for shifts that bring long-term success. The techniques shared were geared towards helping companies mitigate risk
and keep moving towards their goals. “PwC is committed to helping our clients develop risk management strategies that provide a framework from which they can better manage their risk exposure. To survive and to thrive, risk mitigation must be an area of acute focus,” said Bruce Scott, risk assurance leader for PwC in the Caribbean. “We know that significant risk is rarely confined to discrete areas in an organisation, but rather, can have impact across the organisation. It is for this reason that PwC has developed a holistic approach to risk management to help protect businesses, facilitating
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strategic decision making and enhancing efficiency. Our teams have extensive experience, having already worked with public and private sector clients to understand and address an extensive range of strategic and operational risks.” “PwC’s risk management teams have performed extensive research as to why organisations have failed in the past to identify, analyse and address risks,” said Prince Rahming, PwC Bahamas country leader. “This insight supports our evolving guidance to business leaders charged with managing enterprisewide risk. When business leaders have the ability to collect the right data and convert this data into actionable intelligence, they are empowered with a deeper understanding of their business and of the drivers that impact performance. This allows for much better decision-making.”
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Tuesday, February 7, 2017, PAGE 3
Chamber chief urges PPP against crime By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net The Chamber’s chief executive yesterday called for a concerted public-private partnership (PPP) to tackle crime and mitigate its impact on the economy, with the private sector seriously concerned with both the cost and fear of crime. Edison Sumner said: “In
many cases business persons find themselves victims of crime when it comes to armed robberies and theft within their organisation. “The business community is seriously concerned with the cost of crime, but also the fear of crime and criminal activity against businesses persons. We hear a lot about business persons being held at gunpoint or their establishments being
broken into.” The Bahamas leads the entire Caribbean on economic losses stemming from crime, losing $434 million or almost 5 per cent of its annual gross domestic product (GDP) to the scourge, according to a recent Inter-American Bank (IDB) study. The study, ‘The costs of crime and violence: New insights in Latin America
and the Caribbean’, reveals that the Bahamas is one of only two countries in the region where crime costs its citizens and residents more than $1,000 per person annually. Once currency differences are accounted for, crime was shown as costing Bahamas residents $1,177 per capita annually, second only to Trinidad & Tobago’s $1,189 per person.
“We have to look at ways to reduce criminal activity, reduce the impact of crime on businesses and crime against the persons, which is even more of a concern because many business people may have insurance that protect them against certain kinds of activities,” Mr Sumner said. “We have businesses persons having to spend money on insurance each year to
protect themselves against certain kinds of criminal activity. We have businesses who are paying a lot of money installing alarm and surveillance systems. “We need to work together. There needs to be a concerted effort from the Government, public and the private sector, as well as academia, to explore ways we can reduce the incidents of crime or criminal activity.”
Human resources chief to go ‘outside the box’ The newly-elected Bahamas Society for Human Resource Managers’ (BSHRM)president has vowed to “step outside the box” to meet the needs of her members. Chrislyn Benjamin promised to respond to the rapidly evolving needs of human resources clients and other like-minded organisations. She stressed the urgency of establishing links with other secors.. Mrs Benjamin said: “ Colleagues, as I pledge myself to serve, I foresee a Society which has as its primary focus a reshaping of the
mindset of individuals and organisations in terms of their expectations of what HR can and will deliver. “I foresee a BSRM stepping outside the proverbial box, visiting with organisations, consulting with businesses and leaders, leading the way in organisational solutions, while meeting sought-after needs and establishing credibility.” The Bahamas Society for Human Resource Management (BSHRM) is an organisation for human resources and other business professionals. It is an affiliate of the Society of Hu-
man Resources Management (SHRM), the largest body of HR professionals in the world. Human resources professionals attended the BSHRM ceremony at the police headquarters’ Paul Farquharson Centre last Thursday. Dr Mychal Coleman, vice-president of human resources at the University of The Bahamas, told those present to make a real difference through innovation, collaboratio, strategic planning and thinking.
Front Row L to Right: Akua Anyane, vice-president of finance; Chrislyn Benjamin, president; Lauren Adderley, vice-president of membership. Back Row Standing: Indira Rolle, vice-president of public relations; Tanya Rahming, secretary; Edris Davis, vice-president, programmes
Bird tourism takes flight in Bahamas Nine Bahamians will enable bird tourism to take flight in this nation after graduating from an advanced guide training programme. The training initiative, a collaboration between the Ministry of Tourism, the Bahamas National Trust (BNT) and the National Audubon Society, with funding from the InterAmerican Development Bank (IDB), focused on training guides on Andros and Inagua. Randolph Burrows, Stephen Hanna, Tara Lindo,
Vivian Moultrie, Samuel Nelson, David Neymour, Rinald Rolle, Latia Smith and Carlene Woods are now all Advanced Bird Guides. “It is going to be a very lucrative business for you because the birds of the Bahamas are absolutely fantastic,” said the Ministry of Tourism’s deputy directorgeneral, Ellison ‘Tommy’ Thompson. “What we want to do is gather a calendar of all of the birds that are coming in. Every month we will be out there promoting what you
can see in the islands of the Bahamas. “At the end of the day, the Ministry of Tourism will work with you to do promotion. It is your responsibility that the business is ticking over and that you are the face of the Bahamas.” Mr Thompson, speaking at the official launch of Bird Tourism on January 26 at the British Colonial Hilton, said that while many visitors come to the Bahamas for sun, sand and sea, the nation has a “unique product in terms of birding, fishing and boating”. EY Bahamas managing partner, Michele Thompson (far left), and partner Tiffany Pilcher (far right), congratulate three newly Certified Public Accountants in the Nassau office. From L to R: Revé Bain, Lauren Sweeting and Shakira Ferguson.
Three EY accountants pass their CPA exams EY (Ernst & Young) yesterday announced that three professionals in its Nassau office have passed their exams and qualified as Certified Public Accountants (CPAs). The three new CPAs are Shakira Ferguson, Revé Bain and Lauren Sweeting. “Passing a CPA exam is a huge accomplishment, and we are thrilled for these three to have achieved this milestone in their careers,” said Michele Thompson, EY Bahamas’ managing partner, said. “As Shakira, Revé and Lauren continue to develop in their careers, we look forward to drawing on their expertise, as we focus on our mission of helping our clients build a better working world.” Shakira Ferguson joined EY in August 2014 as a staff accountant in the wealth and asset management team. She graduated with honours from the College of the Bahamas in 2014, where she was involved with the school’s Rotaract Club. Ms Ferguson passed her CPA exam in July 2016 and currently serves as an audit senior. Revé Bain graduated from Lyford Cay International School in 2006, where she completed the International Baccalaureate program. See pg b4
Lawrence Glinton, the Bahamas National Trust’s (BNT) president, said 49 residents completed the first phase of training. “We in the BNT are committed to continue support for nature tourism and taking the bird tour guide training to other islands. We believe that people want more out of a vacation than just sun, sand and sea. Birding offers an opportunity to learn more about the Bahamas, its geography, its history and various forms of wildlife,” Mr Glinton said.
The BNT president added that more than 500 students on Andros and Inagua were educated about birding and the environment. Erika Gates, owner of Grand Bahama Nature Tours, and who helped train the advanced birders, said: “In a few weeks, from March 10-13, I will be bringing a group of 14 paying birders from Grand Bahama to Inagua. “They will be spending in excess of $10,000 to experience your guiding skills and expertise, and to find their target birds. This is only over three-and-a-half days. I am confident that you will meet the challenge.” Ms Gates said she will do
the same for Andros in two months’ time, and promised the guides that if they passed their final exam her company would sponsor their first bird guide shirts with the respective logos of Inagua and Andros - promise she delivered on. Globally, birdwatching is a multibillion-dollar industry. In the US, $41 billion is spent on birdwatching, with $500 million injected into the UK economy. Around three million people travel internationally for birdwatching experiences. Between 2005 to 2009, 20 million US citizens took trips within the US for birding experiences.
PAGE 4, Tuesday, February 7, 2017
Aliv works with majority owner so ‘no cannibalising’ From pg B1 Government’s position that HoldingCo’s initial shareholding be as diverse as possible, so that the maximum number of Bahamians benefit, as it seeks to exit itself from the company. “They’re not the same instruments, but they will be going after probably some of the similar sources,” Mr Bowe told Tribune Business of the planned Aliv and HoldingCo capital raisings. “It’s already been agreed between the two entities, so they will not be cannibalising each other. Aliv has the flexibility that they can target high net worth individuals, institutions and money market opportunities, whereas we have to meet the requirements of broader ownership.
“In addition to what we’re doing, it’s making sure we understand what Aliv’s lined up as well, and making sure the parties are not shying away from the other in terms of the timing,” he added. “There’s co-ordination of the capital market players so that there’s understanding of what’s coming at this point in time. We’re still in the timeline of trying to get it done in the first quarter, so we’re making sure all these things are aligned.” Mr Bowe also pointed to the differences between what is being offered to investors, with Aliv focusing on either bonds, preference shares or bank financing to meet the agreed debt component of its capital structure. While Aliv’s debt capital would have a shorter lifespan, a fixed-coupon rate of
RBC economist ‘too superficial’ over VAT squander conclusion From pg B1 required it to undertake emergency spending and borrowing to finance repairs and recovery. “I’m not arguing with the broad based conclusion,” Mr Smith said of Ms Dukharan’s comments, “but coming from one of the top banks in the world, she should stand to do more analytical things, rather than more self-serving conclusions that are not evidence based.” Mr Smith’s comments may surprise observers, especially those in the Bahamian private sector and many in wider society, who regard Ms Dukharan’s comments as ‘spot on’ in pinpointing the root cause of the country’s persisting fiscal crisis. “Truth hurts,” one source told Tribune Busi-
ness. Yet Mr Smith’s comments represent the first sign of ‘push back’ against the RBC economist. Tribune Business understands that the Christie administration was enraged by Ms Dukharan’s remarks, and especially that they came from a foreigner. The Government is also understood to have been especially affronted by the timing, given that it came in the midst of the ‘Where the VAT money gone’ controversy ignited by Michael Halkitis, minister of state for finance, in his address to the PLP convention. Ms Dukharan’s ‘offence’ was to accuse the Bahamas of squandering the Caribbean’s “most successful Value-Added Tax” by failing to act in a fiscally prudent manner.
return and be cheaper, the HoldingCo equity placement will deliver returns over the long-term. Still, the demands on investors and the wider Bahamian capital markets will be great, given that two offerings of significant size will be presented at around the same time. Tribune Business previously reported that HoldingCo was seeking to raise around $70 million as its share of Aliv/NewCo’s initial financing. When added to the $30 million that Aliv is seeking, this means that a total $100 million is being sought - a sum greater than has been raised in any previous capital raise the maximum currently is around $60-$70 million. However, Mr Bowe said investor appetite was likely to have been increased by the Central Bank’s preChristmas decision to slash the Discount rate by 0.5 percentage points to 4 per cent. This has meant that investor returns on bank deposits, and existing secu-
rities issues whose prices (interest rates) are linked to Bahamian Prime, will have fallen. The reduced yields from “a low interest rate environment”, coupled with limited investment opportunities in the Bahamian capital markets, are being counted on to stimulate investor interest in the planned offerings from the nation’s second mobile operator and its majority shareholder. Mr Bowe said HoldingCo had completed its ‘soundings’ of potential investors, and was now working to finalise the private placement document and structure of the offering. “We’ve got the feedback from many of those targeted, and we’re now near completion of the final document and final opening and closing [of the offering],” he told Tribune Business. “We’re assessing where we are in terms of the amounts committed now, and will then determine the strategy as to whether in the future it remains open and
available for investors to pick up at a later date. And, if there’s a shortfall or excess, what to do.” HoldingCo has been assessing whether it can accommodate the ‘cash flow’ needs of some potential investors, who have said they are willing to make a greater investment if the offering remains open for a longer period, thus enabling them to make a second capital contribution. The placement of HoldingCo’s shares is designed to secure the Government’s complete exit from ownership of the company. The Government has temporarily taken 100 per cent ownership of HoldingCo to ensure NewCo/Aliv is not delayed in obtaining the necessary financing to meet its infrastructure roll-out objectives, with the intention that it quickly be bought out by private Bahamian institutional investors. Securing this ‘buy out’, though, has been harder and taken longer - than the Government and its advisers thought.
In a harsh verdict on the Christie administration’s fiscal policies and achievements, said it had failed to slash the Bahamas’ annual fiscal deficits “in the way it had planned”. Ms Dukharan called for the Bahamas to implement so-called ‘fiscal rules’ to cap government spending and establish a debt ceiling. And she warned that the Government’s fiscal profligacy could ultimately impose pressure on the Bahamian dollar, and its one:one peg with its US counterpart. “I am disappointed that despite having the most successful VAT in the whole region - despite getting more from this VAT than you expected to - the fiscal deficit was not reduced in the way it had planned to be reduced. Fiscal prudence had not been adhered to,” Ms Dukharan said. “This is going to put pressure on the currency. It has already put pressure on your ratings. I believe that if you continue on this path of persistent fiscal deficits, which drive debt up, you
will end up in a situation where it’s unsustainable and you have to get help. That is where we consistently end up in the region. “It’s easy to take the money and spend it on a mechanism that you think your electorate wants and will reward you for. We need to have ‘fiscal rules’ which limit how much you can spend, how big your deficit can be and how high your debt can go.” Mr Smith acknowledged that while there might have been ‘overspending’ initially by the Christie administration, this trend had been “tapering off” in recent years as revenues caught up with the pace of expenditure growth. “I think one of the most important things is the way out of this crisis we see ourselves in is economic growth,” he told Tribune Business, “expanding GDP rather than government expenditure.” However, he argued that the Bahamas’ persistently high unemployment and crime rates, and demands
on the social security system, meant that public spending could not be reduced overnight. The now-CFAL chairman added that even “holding the line” on government spending “might exacerbate social policy down the line”. Mr Smith also expressed bewilderment at Ms Dukharan’s call for the Bahamas to reduce its dependence on foreign direct investment (FDI), given that all countries - even those in the developed world - all relied upon it and competed to attract it. “That is a part of globalisation, attracting FDI,” Mr Smith said. “It’s like saying we’re over-reliant on tourism, so do away with it. That’s like telling the Arab countries to move away from oil. “I would have expected more analysis of what’s really there and the context in which the Budget unfolds in this country. She could have come to the same conclusions, but would have to bring more rigorous analysis.”
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From pg B3 In 2014, she attained her Bachelor’s degree from the College of the Bahamas. Ms Bain joined the EY team in November 2014, and currently serves as an audit senior in the asset management service line. Lauren Sweeting joined EY in July 2016. She is an
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2015/CLE/GEN/00254
IN THE SUPREME COURT Common Law and Equity Division BETWEEN
BAHAMAS DEVELOPMENT BANK Plaintiff
AND CARLTON OMAR TUCKER
Defendant NOTICE TO: CARLTON OMAR TUCKER TAKE NOTICE THAT: 1.
An action has been commenced against you by the Bahamas Development Bank in the Supreme Court of the Commonwealth of The Bahamas by Writ of Summons filed on the 2
nd
day of March A. D., 2015 and
th
renewed on the 13 day of December A. D., 2016 being Common Law and Equity Action number 00254 of 2015, wherein the Plaintiff’s claim is for payment of the sum of $9,551.65 being principal, the sum of th
$9,616.15 representing interest as of the 6 day of January, A D., 2015 at the rate of 8.5% together with th
applicable advances and costs due under a Promissory Note dated 24 day of July A. D., 2002. 2.
It has been ordered that service of the said Writ of Summons be effected on you by virtue of this advertisement.
3.
You must within Fourteen (14) days from the publication of the advertisement inclusive of the day such publication, acknowledge service of the said Writ of Summons by filing a Memorandum of Appearance at the Registry of the Supreme Court, in the British American Bank Building, Marlborough Street, Nassau, The Bahamas and by serving the said Memorandum of Appearance on the Attorneys whose name and address appear below, otherwise judgment may be entered against you. th
Dated the 26 day of January A. D. 2017
HALSBURY CHAMBERS HALSBURY COMMERCIAL CENTRE VILLAGE ROAD NORTH P. O. BOX CR-56766, SUITE #548 NASSAU, N.P., THE BAHAMAS ATTORNEYS FOR THE PLAINTIFF
alumna of Queen’s College High School and attended Georgia State University, graduating in 2012 with a Bachelor’s Degree in Accounting. Ms Sweeting then continued her education at Kennesaw State University, where she earned her Master’s degree in Business Administration in 2015. Prior to joining EY in 2016, she gained experience as an internal auditor in Atlanta, Georgia. Ms Sweeting passed her CPA exam in September 2016.
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Edison Sumner
Chamber chief calls for end to prison ‘blackhole’ From pg B1 cent of persons housed at the Bahamas Department of Correctional Services (BDCS) are on remand. “It costs the Government, as we understand, in excess of $20,000 per person annually to house inmates at the Bahamas Corrections facility,” Mr Sumner said. “One of the proposals that I am actually in the process of writing now, as part of the committee looking at the paroles and probation programme, is that we should make it a requirement that everyone join a work programme; that each of the inmates should be should be required to work in the program and be paid the minimum wage. “Out of that, the Government is going to deduct the cost of the incarceration - the cost of meals, accommodations, electricity and the rest of it. The balance due to them could be awarded when they are released. At least the money is not being put into a blackhole.” Mr Sumner’s comments came on the heels of an Inter-American Development Bank (IDB) report, which shows that the Bahamas leads the entire Caribbean on economic losses stemming from crime, losing $434 million or almost 5 per cent of its annual gross domestic product (GDP) to the scourge. The report found that the Bahamas also incurred one of the high costs in income foregone as a result of the incarcerated prison population at Fox Hill, the IDB estimating this as equivalent to 0.35 per cent of GDP - around $30-$40 million as result of inmates not being engaged in productive work. Adding this to the 0.3 per cent of GDP spent by the Government on running Fox Hill prison, the report found the Bahamas was spending 0.65 per cent of its annual economic output on incarceration - a proportion that was the “second highest loss” in the Latin American and Caribbean region.
THE TRIBUNE
Tuesday, February 7, 2017, PAGE 5
Bran: ‘Crime is killing economy’ From pg B1 ‘cost of crime’ would have been much greater, although Mr McCartney expressed alarm that the IDB report placed this nation in the same category as two acknowledged “war zones” - Honduras and El Salvador. “Crime is killing the economy. There’s no doubt about that,” Mr McCartney told Tribune Business. “The amount of money spent on protecting your property, your business, is phenomenal. “It’s also killing the economy because people, myself included, are very reluctant to continue investing in this country in certain businesses in light of what is going on with crime in this country. “It’s killing the economy in terms of how much we have to pay for protection, and killing the economy because of people being reluctant to invest, locals and
international, due to the crime state we are in. It’s a very telling report.” The IDB study,, ‘The costs of crime and violence: New insights in Latin America and the Caribbean’, revealed that crime costs only Honduras and El Salvador a greater proportion of annual GDP than the Bahamas. The findings, revealed by Tribune Business, also disclose that the Bahamas is one of only two countries in the region where crime costs its citizens and residents more than $1,000 per person annually. Once currency differences are accounted for, crime was shown as costing Bahamas residents $1,177 per capita annually, second only to Trinidad & Tobago’s $1,189 per person. Apart from Mr McCartney, the findings also attracted the attention of FNM leader, Dr Hubert Minnis, who said in a statement: “With an already-
‘No political party is committed’ to cutting Govt size From pg B1 “There’s never been any serious effort to reduce the size of government as no one is committed to it as a philosophy,” Sir Franklyn told Tribune Business, suggesting that Opposition politicians now calling for this were being hypocritical. “Those in the FNM calling for that are looking for something to say, because in 15 years in office they never pursued that,” he added, referring to the 1992-2002 and 2007-2012 Ingraham administrations.” Sir Franklyn added that recent pronouncements by Dr Hubert Minnis, the FNM leader, and senior members of his party suggested they would only slow down - not stop and reverse - the continuing expansion of government if they were elected to office. “Everything they say means the Government will have to spend money,” he added of the FNM. “He’s [Dr Minnis] not saying he will do anything to cut the current level of expendi-
ture; he’s only going to reduce the size of the increase.” Challenging Branville McCartney, the Democratic National Alliance’s (DNA) leader, to produce specifics on how his party would shrink government, Sir Franklyn then suggested the real reason why the public sector keeps growing. “You know why they don’t say it?” he said of the aversion by Bahamian politicians to publicly commit to reducing the size of government. “It’s because the public will interpret that as saying they’re going to start reducing public services, people will lose jobs, and they will lose votes. “It’s easier for politicians to talk about new programmes and initiatives they say are going to create jobs.” But a reduction in the size of government is exactly the medicine that many observers believe the Bahamas needs, given that public expenditure continues to outpace revenues despite the $1 billion-plus boost from Value-Added Tax (VAT).
PUBLIC NOTICE OF INTENDED APPLICATION FOR A GRANT OF Letters of Administration IN THE SUPREME COURT PROBATE DIVISION In the Estate of Bernard Burrows, late of No. 3 Patron Crest, Eastwood Subdivision in the City of Nassau, deceased. NOTICE is hereby given that Arnette Burrows of No. 3 Patron Crest in the Eastern District of New Providence, one of the Islands of the Commonwealth of The Bahamas will make application to the Supreme Court of The Bahamas after the expiration of fourteen days from the date hereof, for a grant of Letters of Administration of the real and personal Estate of Bernard Burrows, in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.
struggling economy, we need immediate action to address this growing trend, or we will continue to realise the negative impacts of the crime epidemic. “Several countries have previously issued travel advisories warning their citizens about the crime rate, and this negatively impacts our precious tourism economy.” K P Turnquest, the FNM’s deputy leader, said the IDB report was another document in an increasing trend of “negative international reports” on the Bahamas’ problems with crime, which the nation seemed unable to bring under control. “If we don’t get it under control, it’s going to have an even bigger effect,” he added. “It does affect the ability of the country to attract investment, it does affect the impression tourists have. “For a once very peaceful nation, known for our tranquil environment and people, to come to this is an horrific testament. “It speaks to a lack of focus by governments on education, social development and urban development.
When people are under-educated, and feel they’re not being treated fairly, and are living in conditions where they’re not sure whether they will have a roof over their head and can provide for their family, it creates an environment where crime flourishes,” Mr Turnquest continued. “We have to get back to basics; the fundamentals of community, discipline and order in society.” Mr McCartney, meanwhile, added: “The bottom line is that crime affects us in every aspect of our lives. We [the DNA] had previously estimated the crime/ corruption cost to our country to be $200 million a year. What the IDB is saying is that it’s much more than that.” The DNA leader suggested that the IDB report’s estimate of $434 million, or 4.79 per cent of annual gross domestic product (GDP), being lost to crime was itself an under-estimate of the true problem. He added that Bahamian and foreign investors, together with ordinary citizens, were frequently faced
with having to “pay under the table” if they wanted something done - a practice that everyone knows of, but rarely discusses, in part because it has become so commonplace. Pointing out that this only served to increase costs for all Bahamas residents, Mr McCartney added: “To find out where your permits and licenses are, you have to pay somebody’s lunch. It’s absolutely ridiculous. “I had a client a couple of years ago, under this same administration, who came back to the office and was really frustrated because in order to move the file from one person to the next, for there to be any type of progress, he had to pay more money. “I know of one huge investor who came to my office, and who has particularly significant land in the Bahamas, saying he will not invest while this government is in power because of the corruption costing him money under the table to get things done.” Mr McCartney argued that much of crime’s costs fell under ‘corruption’,
adding that all Bahamians ultimately paid for it via increased costs in business and public services. “I say that we live in paradise, but are paralysed by fear,” the Opposition’s leader in the Senate told Tribune Business. “We live behind burglar bars, have dogs for protection, and have to ensure we have alarms at home. “It costs us. It costs us from a business sense and as individual citizens. We continue to go down this slippery slope of crime that continues to cost the Bahamian people and reflects on us internationally.” Mr McCartney continued: “To be put in the category of Honduras and El Salvador, that is concerning. Those are war zones because of crime concerns there. “Can it be said that we are considered a war zone, a country at the same level as those war zones nations? We are a war zone nation. Look at the number of murders here this year. Look at the number from October to-date. It’s unprecedented.”
As a result, the Government continues to miss fiscal consolidation targets that many believe are overly-optimistic, with the fiscal deficit for the 2015-2016 period projected to still come in around $300 million. While the deficits have come down from $500 million-plus during the Christie administration’s first two years, and the rate of increase in the national debt has slowed, the latter is continuing to move towards the $7 billion mark. Yet the 75 per cent yearover-year increase in the deficit to $157.5 million for the first four months of 2016-2017 fiscal year means the Government has already blown past its full-year projection with just one-third of the period gone. And the size of government continues to grow, with Shane Gibson, minis-
ter of labour and national insurance, revealing last month that 4,500 net persons have been added to the public service since the Christie administration took office. Taking $12,000 as a crude ‘average salary’ for Bahamian civil servants, Tribune Business calculations show that the 4,500 ‘new hires’ have added a collective $54 million to the Government’s annual civil service wage bill. This is likely to be an under-estimate, given that no benefits are included in the calculation, but it helps to show ‘where the VAT money gone’. Economic theory suggests the Bahamas needs to grow the private sector and its economic output (GDP), as this would enable companies to provide jobs for persons laid-off in the public sector as a result of reducing government’s size.
However, many Bahamians plump for public sector employment in the belief that the demands will be less, and the benefits and job security greater. And then there are the evergrowing demands from the Bahamian public for expanded public services. All of which makes reducing the ‘size of government’ difficult, especially given the short-term thinking of many politicians, and the fact constituencies can turn on 100 votes or less. Sir Franklyn told Tribune Business that “political parties that are serious about reducing the size of government pursue a political philosophy” that is typically ‘conservative’. Yet he pointed out that no Bahamian political party had incorporated the term in its name or philosophy, despite both the FNM’s and DNA’s founders having the
opportunity to do so and differentiate themselves from the Progressive Liberal Party (PLP). Sir Franklyn said the PLP was the only party to state its philosophy in its name that it is ‘progressive’ and ‘liberal’. “The reality in the Bahamas is that the PLP is the only party which is its name, saying what its political philosophy is,” Sir Franklyn said. “The other parties have never in name said they’re opposed to a progressive philosophy. “You are looking for evidence of making the Government smaller, and can’t find evidence of it. You don’t need to look too far.” Sir Franklyn added that “until there’s a party that comes along and says we’re the Conservative party”, a reduction in the size of Bahamian government is unlikely to happen.
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PAGE 6, Tuesday, February 7, 2017
THE TRIBUNE
Tech firms take stand against travel ban, risking backlash SAN FRANCISCO (AP) — Through a Super Bowl ad, public statements and court filings, Silicon Valley’s biggest companies are taking a strong stand against President Donald Trump’s travel ban, saying high tech needs immigrants’ creativity and energy to stay competitive. Although the companies are risking a backlash from customers who side with Trump, they say the pushback is necessary for an industry dependent on thousands of highly skilled foreign workers. About 58 percent of the engineers and other highskill employees in Silicon Valley were born outside the U.S., according to the
Silicon Valley Leadership Group, an industry trade group. “Immigration and innovation go hand in hand,” said Carl Guardino, the group’s CEO. “This cuts so deeply into the bone and marrow of what fuels the innovation economy that very few CEOs feel the luxury of sitting on the sidelines. So people are going to stand up and speak up.” The tech industry contends there aren’t enough Americans with the specialized skills these companies need. Though critics contend that companies favor immigrants because they can pay them less, tech companies argue that the
Legal Notice
NOTICE INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)
CAROLIN LIMITED In Voluntary liquidation
“Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000), CAROLIN LIMITED is in Dissolution.” The date of commencement of dissolution is the 3rd day of February, 2017.
Lutea Trustees Limited 9 Burrard Street, St Helier Jersey JE4 5UE Channel Islands Liquidator
DECADE INVESTMENT CORP. Company No. 198413 (In Voluntary Liquidation) NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that DECADE INVESTMENT CORP. is in voluntary liquidation. The voluntary liquidation commenced on 1st December, 2016 and Marija Cukic of Bächlerstrasse 35, CH-8046 Zürich has been appointed as the Sole Liquidator. Dated this 1st day of December, 2016 Sgd. Marija Cukic Voluntary Liquidator
ban would pressure them to move some operations abroad. “A lot of these companies will really struggle if all of a sudden we turn off the spigot,” said Greg Morrisett, dean of computing and information sciences at Cornell University. In a court filing Sunday against the ban, 97 companies, including such major tech players as Google, Apple, Microsoft, eBay, Netflix, Facebook and Twitter, also spoke of the entrepreneurial spirit of “people who choose to leave everything that is familiar and journey to an unknown land to make a new life.” Google CEO Sundar Pichai and Microsoft CEO Satya Nadella both came from India. Google cofounder Sergey Brin is a Russian refugee who moved to the U.S. as a boy. The father of Apple’s late cofounder, Steve Jobs, immigrated from Syria. Tech worker Ehsaan Taeb, 28, said his whole family is in Iran and knowing his parents won’t be able to visit him has added stress to his life. But seeing his company and other tech companies taking a stand against the ban has heartened him, he said. “When you see your employer and other companies make that kind of effort, that makes me feel very supported and in a community that’s thoughtful and caring,” said Taeb, who works
Isahaq Ahmed Rabi, left, smiles as he stands with his wife during a news conference shortly after Rabi's arrival yesterday, at Seattle Tacoma International Airport, in SeaTac, Wash. Rabi was blocked from entry to the U.S. last week due to President Donald Trump's immigration order. Rabi is a citizen of Somalia. His wife is a U.S. citizen. (AP Photo) in support at Checkr, a software company that provides background checks for businesses. The Silicon Valley Leadership Group estimates that half the companies in the region were co-founded by an immigrant or are now led by a CEO from outside the U.S. In signing an executive order Jan. 27 that would temporarily ban people from seven Muslim-majority countries, Trump said he was trying to protect Americans by preventing terrorists from slipping into the country. The administration says the president has the constitutional authority to decide who can enter. During the Super Bowl, several companies ran ads that promoted diversity and inclusion, as marketers tried
N O T I C E
to reach both sides of a consumer base roiled by the election. One of the most overtly political was from Airbnb, a company that matches travelers with places to stay. The San Francisco company showed close-ups of people with different ethnicities. A narrator says: “We believe no matter who you are, where you’re from, who you love or who you worship, we all belong. The world is more beautiful the more you accept.” Airbnb followed up with a campaign to provide shortterm housing over the next five years for 100,000 people in need, starting with refugees, disaster survivors and relief workers. The company also said it will donate $4 million over four years to the Interna-
tional Rescue Committee, joining many tech brethren in making financial contributions. Google set up a $4 million “crisis fund” in January to support organizations that are helping immigrants and refugees, while ride-hailing service Lyft pledged $1 million over the next four years to the American Civil Liberties Union, one of the groups challenging the ban. And workers from Google and Comcast workers have staged walkouts over the restriction. “I wouldn’t be where I am today or have any kind of life that I have today if this was not a brave country that really stood out and spoke for liberty,” Brin told a crowd of Google employees who walked out in protest last week.
PANDA INTERVEST CORP. Company No. 587777 (in voluntary liquidation)
EXXONMOBIL EXPLORATION AND PRODUCTION EGYPT (VENTURES) LIMITED ____________________________________ N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION AND PRODUCTION EGYPT (VENTURES) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of February,2017 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is T.A. Parmenter, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 7th day of February, 2017 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company
NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that PANDA INTERVEST CORP. is in voluntary liquidation. The voluntary liquidation commenced on the 31st January, 2017 and RAHEL RUTH KIEBER at Dorfstrasse 7a, 9495 Triesen, Principality of Liechtenstein has been appointed as Sole Liquidator. Dated this 31st day of January 2017 Rahel Ruth Kieber Voluntary Liquidator
NOTICE EXXONMOBIL EXPLORATION AND PRODUCTION EGYPT (VENTURES) LIMITED ____________________________________________ Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 3rd day of March, A.D., 2017. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 7th day of February, A.D., 2017. T.A. Parmenter Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.
YOUR
CHOICE FOR THE FAMILY @JOYFMBAHAMAS WWW.FACEBOOK.COM/JOYFM1019
THE TRIBUNE
Tuesday, February 7, 2017, PAGE 7
US stocks close lower, snap S&P 500's 3-day winning streak the New York Stock Exchange. Stocks are edging lower in early trading on Wall Street, yesterday, led by declines in banks and materials companies. (AP Photo)
products. The stock gave up $2.66 to $44.23. Sysco fell 2.6 percent after the food distributor reported better earnings, but its revenue was weaker than expected. The stock lost $1.34 to $51.20. Few companies got a bigger lift from earnings news than Hasbro. The toymaker vaulted 14.1 percent after it posted fourth-quarter profit and sales that beat Wall Street’s estimates, aided by better sales of toys marketed to girls, including Disney Princess and Frozen products. The stock led all the gainers in the S&P 500, climbing $11.68 to $94.31. Rival Mattel also got a lift, adding 10 cents to $25.92. Tyson Foods fell 3.5 percent after the company disclosed in a quarterly filing that it has received a subpoena from the Securities and Exchange Commission as part of an antitrust probe. The stock shed $2.26 to $63.13. News of an executive shake-up at Tiffany & Co. sent shares in the jewelry company lower.
CEO Frederic Cumenal had stepped down on Sunday amid concerns about the company’s financial performance. Tiffany said it had already begun to search for a successor. Michael Kowalski, chairman of the board of directors and previous CEO of Tiffany, was tapped to serve as interim CEO. Tiffany shed $1.98, or 2.5 percent, to $78.49. Energy futures were broadly lower, weighing on oil and gas companies. Benchmark U.S. crude fell 82 cents, or 1.5 percent, to close at $53.01 a barrel in New York. Brent crude, used to price international oils, lost $1.09, or 1.9 percent, to $55.72 a barrel in London. In other energy trading, wholesale gasoline fell 4 cents to $1.51 a gallon, while heating oil slid 3 cents to $1.64 a gallon. Natural gas futures slipped a penny to $3.05 per 1,000 cubic feet. Offshore drilling services company Transocean fell 43 cents, or 3.1 percent, to $13.54. Devon Energy slid $1.52, or 3.2 percent, to
European Central Bank head warns on Trump deregulation push
those policies were carried out to boost the lagging recovery in Europe, not for currency advantage: “the monetary policies that we have conducted reflect the different stage of the cycle in the eurozone and the United States.” German Finance Minister Wolfgang Schaeuble deflected the criticism of Germany by saying in an interview published over the weekend that ECB policies that were right for the eurozone as a whole were too loose for Germany. When Draghi launched the stimulus, “I told him that he would drive up Germany’s export surplus,” Schaeuble was quoted as saying in the Tagesspiegel newspaper. “I promised then not to criticize this course but I also don’t want to be criticized for its consequences.”
AP Business Writer – Energy companies led U.S. stocks slightly lower Monday as the price of crude oil declined, snapping a threeday winning streak for the Standard & Poor’s 500 index. Phone company and real estate stocks were also among the big decliners. Technology and industrial companies eked out tiny gains. Investors are continuing to focus on company earnings reports this week as they size up the health of Corporate America. With just over half of all the companies in the S&P 500 having reported quarterly results, most have posted annual earnings growth. But that hasn’t been enough to significantly move the stock market, which remains at near-record levels. “A lot of this earnings growth we’re seeing now is already priced in,” said David Schiegoleit, managing director at the Private Client Reserve at U.S. Bank. “It would have to extend further in order to push
FRANKFURT, Germany (AP) — The head of the European Central Bank expressed concern about the Trump administration’s moves to relax financial oversight, saying such deregulation helped pave the way for the global financial crisis. During a hearing in the European Parliament, ECB President Mario Draghi was asked about Trump’s efforts
markets higher.” The Dow Jones industrial average fell 19.04 points, or 0.1 percent, to 20,052.42. The S&P 500 index slid 4.86 points, or 0.2 percent, to 2,292.56. The Nasdaq composite index gave up 3.21 points, or 0.1 percent, to 5,663.55. On Friday the Nasdaq closed at a record high and the S&P 500 came
to revisit parts of the DoddFrank regulations aimed at keeping risk-taking banks from sparking a repeat of the 2007-9 financial turbulence that launched the Great Recession. “Frankly, I don’t see any reason to relax the current regulatory stance which has produced a much, much stronger banking — and, generally, financial services — industry than we used to have before the crisis,”
within a point of its own alltime high. The major stock indexes were headed lower from the start of trading Monday. They drifted a bit early on, but remained in the red most of the day. Disappointing results and outlooks from several companies put traders in a selling mood.
Draghi said. Draghi said that financial deregulation and expansive monetary policy were “exactly the ground on which the financial crisis developed.” He added that more clarity was needed on what exactly Donald Trump’s government plans to do. Trump on Friday directed the Treasury to look for potential changes in the law’s
Newell Brands slid 5.7 percent after the maker of Rubbermaid, Sharpie, Elmer’s Glue and other products reported disappointing sales and issued a full-year sales forecast that fell far short of analysts’ estimates. The company said the strong dollar and fewer people shopping at malls hurt sales of some key
provisions. Responding to questions from the members of the parliament’s economic and monetary affairs committee, Draghi also rejected claims by the Trump administration that Germany gets unfair trade advantage from a weak euro. Peter Navarro, head of the U.S. National Trade Council, has claimed that Germany is exploiting what he called a “grossly undervalued” currency. Lower currencies help exports; the euro has fallen from around $1.40 in 2014 to around $1.07 now. Draghi responded Monday by saying that euro member Germany “has not engaged in persistent, onesided intervention in for-
eign exchange markets.” “We are not currency manipulators,” he added. Draghi said Germany’s large trade surplus was based on economic competitiveness, not currency advantage. As a euro member, Germany by itself no longer controls the interest rate and monetary policies that could force down the euro. Those powers now reside at the ECB, created to manage the shared currency. In fact, German politicians and German members of the ECB’s board have agitated in vain for higher interest rate policy that would likely have strengthened the euro. ECB stimulus has helped lower the euro. Draghi said
PAGE 8, Tuesday, February 7, 2017
California Democrats counter Trump's threat to defund SACRAMENTO, Calif. (AP) — The war of words escalated Monday between Democratic leaders in the nation’s biggest state and Donald Trump after the Republican president said California is “out of control” and suggested withholding federal funding. In separate statements Monday, the leaders of the state Legislature pointed to California’s massive economy and strong job growth, saying the state provides critical contributions to the nation. “If this is what Donald Trump thinks is ‘out of control,’ I’d suggest other states should be more like us,” said Assembly Speaker Anthony Rendon, D-Paramount. Trump criticized California during a Fox News interview broadcast on Sunday. “California in many ways is out of control as you know,” he told Fox anchor Bill O’Reilly. “Obviously the voters agree or otherwise they wouldn’t have voted for me.” Responding to questions from O’Reilly, Trump said California’s consideration of legislation to create a statewide sanctuary for people living in the country illegally is “ridiculous.” Trump, who opposes sanctuary cities that refuse to cooperate with federal immigration authorities, said the federal government “gives tremendous amounts of money to California.” O’Reilly asked if defunding is Trump’s “weapon of choice,” and the president responded: “I don’t want to defund anybody. I want to give them the money they need to properly operate as a city or a state. If they’re going to have sanctuary cities, we may have to do that. Certainly that would be a weapon.” California Senate President Pro Tem Kevin de Leon said state residents contribute more to federal coffers than their state gets in return, and any sanctions against California would ripple nationwide. “President Trump’s threat to weaponize federal funding is not only unconstitutional but emblematic of the cruelty he seeks to impose on our most vulnerable communities,” de Leon said.
Rendon, de Leon and other Democratic leaders in California have fiercely criticized Trump and vowed to fight his policies through the Legislature and in court. The Legislature has hired Eric Holder, the U.S. attorney general under President Barack Obama, to advise members on a legal strategy. California’s nonpartisan legislative analyst reported last month that federal expenditures in the state amount to $368 billion a year, most of it to provide health care for people with low incomes. Trump’s defunding suggestion wasn’t his first threat to use the power of the federal purse as leverage. He also signed an executive order threatening to cut off some federal grants for sanctuary cities. Last week, in response to unrest on the campus of University of California, Berkeley, he sent a tweet saying: “If U.C. Berkeley does not allow free speech and practices violence on innocent people with a different point of view — NO FEDERAL FUNDS?” California Attorney General Xavier Becerra also vowed Monday to challenge any move by the Trump administration to take away federal funding. “We will ... fight every way we can to make sure we get our fair share of money back,” Becerra said told reporters at the California Department of Justice crime lab in Fresno. The attorney general’s office also joined several other states that filed briefs in support of the state of Washington, which is challenging Trump’s travel restrictions for refugees and people from seven Muslim-majority countries. Becerra said the ban could hurt a large number of people who come to California for everything from attending medical school to driving technological developments in Silicon Valley. On the California Assembly floor, several Democrats contrasted Trump’s approach to immigration and foreign policy and that of former President Ronald Reagan, a revered former California governor and a hero to many conservatives.
AP Explains: Can Trump deny funds to sanctuary cities? WASHINGTON (AP) — President Donald Trump is threatening to punish cities and other municipalities that shelter immigrants living in the country illegally by denying them federal dollars. Can a president do that? Most taxpayer money is beyond Trump’s control. But a relatively small portion of the federal budget involves grants distributed by agency and Cabinet department heads appointed by Trump, and those programs could be affected. WHAT IS TRUMP THREATENING? Through a recent executive order and, on Sunday in an interview with Fox’s Bill O’Reilly, Trump threatened to “defund” so-called sanctuary cities by taking away their federal grants. Those are cities and other municipalities that, generally speaking, shelter immigrants in the country illegally by refusing to help the federal government enforce immigration laws. Among the sanctuary cities are New York, Chicago and Los Angeles, as well as smaller jurisdictions like Takoma Park, Maryland, Cambridge, Massachusetts, and Chapel Hill, North Carolina. “I don’t want to defund anybody. I want to give them the money they need to properly operate as a city or a state,” Trump told O’Reilly. “If they’re going to have sanctuary cities, we may have to do that. Certainly that would be a weapon.” Just how big of a weapon isn’t clear. Trump’s threat was enough to prompt Miami-Dade County Mayor Carlos Gimenez, a Repub-
President Donald Trump pauses while speaking to troops at the U.S. Central Command and U.S. Special Operations Command at MacDill Air Force Base in Tampa, Fla., yesterday. (AP Photo) lican, to abandon its sanctuary status. But many other sanctuary cities are vowing to fight. WHAT MONEY WOULD TRUMP CUT OFF? As for Trump’s defunding threat, the first thing to know is that the largest sources of federal funds are exempt from Trump’s edict. Payments to individuals, such as Social Security or health benefits from Medicare, Medicaid or the Affordable Care Act are off the table. Other large pots of federal money — set by formula — such as highway funding and aid to disadvantaged schools are also exempt, as well as other programs like subsidized housing vouchers, heating subsidies for the poor and food stamps. What is left are discretionary grant programs. The order decrees that sanctuary jurisdictions “are not eligible to receive federal grants, except as deemed necessary for law enforce-
LONDON (AP) — A team of French officials went to London Monday on a mission to make Paris the European Union’s financial
MONDAY, 6 FEBRUARY 2017
hub once Britain leaves the EU. Officials including Deputy Paris Mayor JeanLouis Missika and Valerie Pecresse, head of the wider
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,904.90 | CHG -0.01 | %CHG 0.00 | YTD -33.31 | YTD% -1.72 BISX LISTED & TRADED SECURITIES 52WK LOW 2.70 17.43 8.19 3.50 1.77 0.12 4.10 8.05 5.50 7.72 11.00 2.18 1.31 5.60 6.78 8.56 6.12 6.35 11.81 10.00
1000.00 1000.00 1000.00 1000.00
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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 2.03 3.92 1.94 169.70 141.76 1.46 1.67 1.56 1.10 6.96 8.50 6.30 9.94 11.21 10.46
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.41 1.61 1.52 1.03 6.41 7.62 5.66 8.65 10.54 9.57
LAST CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 4.10 8.50 5.83 10.48 11.93 2.05 1.55 5.82 9.75 10.95 9.00 6.90 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 100.00 100.00 100.00 107.21 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 4.10 8.50 5.83 10.48 11.93 2.04 1.55 5.82 9.75 10.95 9.00 6.90 11.93 10.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.11 100.00 100.00 100.00 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
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106.24 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
-0.97 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
VOLUME
300 NAV 2.03 3.92 1.94 168.44 141.76 1.46 1.66 1.56 1.07 6.96 8.50 6.30 9.80 11.13 9.63
EPS$ 0.029 1.002 -0.144 0.170 -0.130 0.000 -0.030 0.607 0.430 0.450 0.110 0.102 0.080 0.300 0.520 0.960 0.820 0.294 0.610 0.000
DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.090 0.300 0.220 0.360 0.490 0.060 0.060 0.240 0.400 0.000 0.330 0.140 0.640 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 0.000
P/E 151.0 15.8 N/M 20.7 N/M N/M -136.7 14.0 13.6 23.3 108.5 20.0 19.4 19.4 18.8 11.4 11.0 23.5 19.6 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 0.0
YIELD 1.83% 6.31% 0.00% 5.97% 0.00% 0.00% 2.20% 3.53% 3.77% 3.44% 4.11% 2.94% 3.87% 4.12% 4.10% 0.00% 3.67% 2.03% 5.36% 0.00% 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% 4.30% 4.30% 3.82% 3.82% 2.73% 2.73% 3.95% 3.95% 6.77% 6.77% 3.56% 3.91% 2.22% 2.79% 2.80% 3.18% 2.99% 2.26% 4.35% 4.69% 4.13% 4.28% 4.22% 4.64% 6.19% 3.43% 2.77% 2.98% -3.66% -3.90%
NAV Date 31-Dec-2016 31-Dec-2016 31-Dec-2016 31-Dec-2016 31-Dec-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-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
ment purposes.” That wording is very broad and could conceivably include grant programs that cities and states apply for and are distributed at the discretion of agency heads. Such funds include sewer and water grants distributed by the Environmental Protection Agency, money to help communities buy equipment for first responders such as firefighters, and special transportation grants established under President Barack Obama’s 2009 economic stimulus bill. On the other hand, there’s legal precedent that says the federal government has to establish a concrete tie between the funding it may cut off and what it is demanding of the states — in other words, the punishment is supposed to fit the crime. If applied so narrowly, the ban on funding for sanctuary cities could be limited to a handful of smaller programs within the departments of Justice
and Homeland Security. Such more narrowly targeted programs include grants for justice assistance, police hiring and funds for programs combating violence against women. Another program partially reimburses state and local governments for the costs of keeping unauthorized immigrants in jail. WOULD THERE BE LEGAL CHALLENGES? Yes. The administration hasn’t given detailed guidance on how the order will be enforced, but legal challenges are certain once it is used against a city or state. For one thing, critics say the order ignores legal precedent that holds that the federal government can’t force the employees of local jurisdictions to enforce federal laws. For instance, a 1997 Supreme Court decision held that the feds can’t force states to “enact or administer a federal regulatory program.”
French on mission to woo bankers from UK after Brexit
MARKET REPORT 52WK HI 4.38 17.43 9.09 3.55 4.70 0.12 7.25 8.50 6.10 10.60 15.48 2.72 1.60 5.82 9.75 11.00 9.00 6.90 12.25 11.00
THE TRIBUNE
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Ile-de-France region, met with representatives of firms based in the City, London’s financial district. Many banks and other firms are considering moving jobs from London once the U.K. leaves the 28-nation bloc and its single market in goods and services. Frankfurt is also trying to woo companies away from Britain, but Pecresse says Paris has the advantage in culture and lifestyle. She asked reporters: “When was the last time you took your partner off for a weekend in Frankfurt?” Missika said Brexit was a “once-in-a-century opportunity” for Paris. Some companies say France’s robust labor protections and tough regulation are a deterrent, but Missika said “we have started to change our regulations.” “We are here to show what Paris has to offer, we are also here to listen,” he said. Britain’s Conservative government plans to trigger
two years of EU exit talks by March 31, and says it wants to retain the closest possible trade ties with the bloc once it leaves. Pro-EU lawmakers in Britain fear the government has made that impossible by insisting on a “hard Brexit” in which the U.K. leaves the EU single market and customs union in order to halt the free movement of people from other member states to Britain. Opposition legislators are attempting to amend a bill currently before Parliament that authorizes the start of EU exit talks, seeking to ensure they get a say on the final divorce deal. But lawmakers voted overwhelmingly to back the bill in its first House of Commons test last week, and it is unlikely many will change their minds when it comes up for vote again Wednesday. Prime Minister Theresa May said Monday that lawmakers should respect voters’ choice to leave the EU.
NOTICE
NOTICE is hereby given that MR. STANLIR ALCE of Marsh Harbour, Abaco, 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 31st day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE NOTICE is hereby given that SAMANTHA CLINTINA GIBBS of #181 Bimini Place, Hawksbill, 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 31st day of January, 2017 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
NOTICE
NOTICE is hereby given that MS. BRITTANY LOUISSAINT of Marsh Harbour, Abaco, 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 31st day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
THE TRIBUNE
Tuesday, February 7, 2017, PAGE 9
b o dy an d m in d
Mother and son face MS challenge together By ALESHA CADET
Tribune Features Reporter
acadet@tribunemedia.net
W
HILE most men his age have nothing more to worry about than succeeding at their jobs, finding love and maybe starting families, Rashad Cartwright has been given a more daunting responsibility to shoulder – caring for his mother who suffers with multiple sclerosis (MS). The 29-year-old said being the caretaker of his mother, Harriet Cartwright, teaches him new lessons every day. “It is different with me being a male dealing with a female. I am learning new things each day as we go along. MS was all new to me in 2014, and just like a lot of Bahamians I was unaware, did not know about it. It is good that you are writing about it, this is where persons can learn about it and understand that it is here in the Bahamas,” he told Tribune Health. Ms Cartwright was diagnosed with multiple sclerosis in 2014 and attempted to go about her life as usual until the symptoms became too debilitating. “I worked at my job up until 2016, and during that time the condition started to bother me to the point where I started to fall down at work. I was relieved of my job soon after and I have been home ever since. With me falling down, I couldn’t handle it at work,”
she told Tribune Health. The Mayo Clinic defines MS as a potentially disabling disease of the brain and spinal cord (central nervous system). Signs and symptoms of MS vary widely and depend on the amount of nerve damage and which nerves are affected. Some people with severe MS may lose the ability to walk independently or at all, while others may experience long periods of remission without any new symptoms. “There’s no cure for multiple sclerosis. However, treatments can help speed recovery from attacks, modify the course of the disease and manage symptoms,” the clinic states As her symptoms increased, Ms Cartwright paid regular visits to her physician, who advised her not worry too much. “He told me that even though I have it, it wasn’t going to bother me as much as I thought it was going to,” she said. From then on she monitored her food intake, as certain foods triggered her symptoms, causing her dizzy spells. In the beginning, her vision gave her problems. Ms Cartwright said she is thankful not to be alone on this difficult journey. She particularly expressed great appreciation for her son Rashad, who she said is there every step of the way. “I must give it to him, he is very helpful. It bothers him sometimes, but he tries
“People can read this and see this young man is taking care of his mom. So I believe young persons out there who are taking care of their parents can understand that they are not the only ones going through these things.”
Harriet Smith was diagnosed with multiple sclerosis in 2014 and became home-bound last year. (Photo/Terrel W Carey)
his best to not show it to me. He keeps me active, asking what I want to do today or what I feel like eating. On a daily basis I like to relax, lay out and watch TV. I like to watch shows like ‘Family Feud’ and soap operas. Also, my housekeeper that is normally here with me, we often talk about things, laugh and have fun. She is a very nice person,” said Ms Cartwright. Rashad admitted that some days can be rough. He said his mother’s symptoms usually affect certain areas of her body, like her legs, which at times can become a bit “jumpy”. She is currently also experiencing numbness in her feet. Keeping her motivated, Rashad said, is important. He said he tries to give his mother hope, telling her that one day she will again be able to do the things she once loved. “Once you keep feeding yourself with that positive energy, then one day you will overcome this mountain. You can’t just sit there and just worry about the circumstances at hand,” said Rashad. Speaking about a coworker of his who just recently lost a daughter to lupus, Rashad said even in
the face of her own tragic loss she always motivated him, encouraging him to do what is necessary for his mother. “She knows what she went through with her daughter for so many years so she kept me encouraged, knowing what I am dealing with when it comes to taking care of someone who has challenges,” said Rashad. “People can read this and see this young man is taking care of his mom. So I believe young persons out there who are taking care of their parents can understand that they are not the only ones going through these things.” He said he wants tell all Bahamians dealing with sickness to focus on a healthy diet and to avoid stress where possible, as stress can be a trigger of so many conditions. “Take each day at a time, especially if it is something you have to deal with and cannot change. You just have to go forward. It would also be good to have a foundation in place for MS in the Bahamas somewhere down the line,” said Rashad.
Save your teeth; prevention is key Preventative dentistry is the practice of caring for your teeth to keep them healthy. It involves oral care education, treatment and the practice of maintaining a healthy mouth. Through preventative dentistry, oral conditions such as gum disease, cavities and tooth wear can be avoided. Its sole purpose is to prevent future dental problems. Effective preventative dentistry combines an at-home oral care regimen with treatments and oral care advice from your dentist. There are a number of home care and in-office elements that make up the strategies involved in preventative oral care. Some of these elements include:
Dental hygiene Dental hygiene is the most important part of preventative dentistry. Many underestimate the
remove at home.
Dental radiographs
Dr Tamika Ferguson power of brushing twice daily and flossing once a day. Brushing and flossing are crucial in protecting against decay and gum disease. A professional dental cleaning is also recommended every six months to remove any staining or buildup on the teeth you cannot
Dental radiographs enable the dentist to detect cavities and other dental problems that are not visible to the natural eye. The dentist is able to see decay that may be forming between the teeth or below the gum line. Most people do not like taking radiographs but they are necessary. By being consistent with your dental visits and taking yearly radiographs, early detection can mean the difference between needing a small filling and a dental extraction.
Diet Your diet is also a factor in keeping or maintaining healthy teeth. If an individual’s diet is high in sugar, they are more likely to have cavities compared to
someone with a low sugar intake. It is recommended to avoid soft drinks and sugary foods as much as possible. If you must have a soft drink, drink through a straw. Further, make sure to brush properly at all times but especially when you overload on sugary foods/substances.
Sealants A dental sealant is a thin plastic material that is placed in the grooves and fissures of your posterior (back) permanent teeth. These are areas where plaque can easily hide and your toothbrush may not be as effective. Sealants are a great way to prevent tooth decay and should be placed once the tooth has fully erupted. Although sealants are usually placed in childhood, adults are also candidates.
Everyone benefits from preventative dentistry. Your teeth are an essential part of your everyday life; if they are not taken care of you will end up losing them. By ignoring the health of your teeth, you may find yourself paying thousands of dollars for dental replacements and other procedures. Incorporating preventative strategies, helps you avoid spending excessive amounts of money at your dentist. Oral conditions/diseases can lead to problems with speech, eating and have a negative impact on your life. Prevention helps to abort dental disease in its earliest stages, give you a healthy smile and limit future dental costs. Preventative dentistry stresses the importance of a proper hygiene protocol and daily practices to help avoid tooth decay and other dental conditions. By working with your dentist, you act as a team to ensure your natural teeth remain with you for a lifetime.
Over 50? You’re at increased risk for shingles (BPT) - A few years ago, a Harris Interactive-sponsored poll found that Americans consider 50 to be the “perfect age” to live forever in good health. For many, the half -century mark can be a time when experience and opportunity balance perfectly - as told by the saying “50 is the new 30.” At 50 there may be more time to spend on your hobbies or other activities that interest you. At 50, the last thing anyone would want is to be blindsided by illness. Yet risks of certain medical conditions increase with age. For example, shingles is a condition caused by the same virus that causes chickenpox – a virus that 98 per cent of adults have had according to the US Centres for Disease Con-
trol and Prevention (CDC). Even after recovery from chickenpox, the virus never leaves the body. At some point later in life, it can unexpectedly reactivate and emerge as shingles - a painful blistering rash that can last for 30 days. When Edwin DePeiza discovered he had shingles, he learned the meaning of the adage: “You don’t miss something until it’s gone.” DePeiza, who is in his 60s and resides in Massachusetts, first noticed a burning sensation on his torso. By the time he saw his doctor, a rash had developed. Upon seeing the rash, his doctor quickly diagnosed it as shingles. DePeiza, a passionate guitar player, witnessed how shingles can interrupt the moments that matter
in life. His guitar playing had taken him all over the world, but the intense pain of shingles forced him to put his passion on hold. “The things I love to do most I couldn’t do, like playing in the band and spending time with (my wife) Marylou,” DePeiza recalls. “The sensation of having shingles for me was like being scalded by hot water, (or) having hot cereal spill on you. I have never experienced that kind of pain or burning sensation.” According to the CDC, one in three people will get shingles in their lifetime, and every year, about one million cases are diagnosed in the United States. Adults aged 50 and older are especially at risk for shingles, as the risk increases with age due to naturally declining
Edwin DePeiza, a passionate guitar player, experienced how shingles can interrupt the moments that matter in life. immune systems. There is no way to tell who will get shingles, nor how severe the case will be. Shingles most commonly surfaces on a single side of the torso, but it can appear anywhere on the body - even the face. For most people, after the shingles rash and blisters heal, the pain and
itch subside - though some people may experience permanent scarring even after the rash heals. In some cases, shingles can cause complications like postherpetic neuralgia (PHN), a long- term nerve pain that can last for months or even years after the blisters heal and the rash disappears.
Speaking with a healthcare professional to understand one’s personal risk for shingles is important. Learn more about Edwin’s shingles experience, and talk to your doctor or pharmacist about a vaccine that can help prevent shingles. For more information go to www.ShinglesInfo.com.
PAGE 10, Tuesday, February 7, 2017
THE TRIBUNE
53rd annual Heart Ball just days away By JEFFARAH GIBSON Tribune Feat ures Writer jgibson@tribunemedia.net
T
he Heart Ball committee is making final preparations for its major annual fundraising event this Saturday. The 53rd Heart Ball will be held on February 11 at the Meliá Nassau Beach Resort beginning at 7.15pm with cocktails. Described as “an evening filled with love, laughter, excitement, dancing and a soulful good time”, the Heart Ball committee said the gala event will allow those in attendance to help raise money to repair the hearts of children. Entertainment for the black-tie affair will be provided by the Ed Brice Orchestra/Soulful Groovers, the Royal Bahamas Defence Force Pop Band and Gary “Super “ Johnson. There will be a special raffle for a his and hers OMEGA watch sponsored by John Bull, as well as a general raffle with 10 prizes, with the first place pick valued at more than $5,000. The silent auction prizes include jewellery, artwork, a handbag, a trip and a
Each year, the Heart Ball raises money for children in need of life-saving surgeries. home-cooked meal by a celebrated chef. A highlight of the evening will be the presentation of the prestigious Lady Sassoon Golden Heart Award, named in honour of Evelyn Barnes, Lady Sassoon, the foundation’s founder and patron. This award goes to persons who give of themselves selflessly to help their fellow men and women.
“People should come out to the event or give a donation to the foundation to support the surgeries of the children. We are assisting children, mostly under five years, who cannot speak for themselves.”
The Heart Foundation relies heavily on funds raised from the ball to support the life-saving work it does in helping those in dire need of heart surgery. Marilyn Cambridge, chairperson of the ball, said the committee hopes guests can be generous in their donations this year, as the lives of many sick children depend on it. “The main purpose of the ball is to raise as much funds as possible to accommodate heart surgeries for Bahamian children. To date, the Heart Foundation has assisted over 4,000 children with heart disease with no major contribution from the government. At birth, the children’s problems are diagnosed as pre-existing conditions and are not covered by insurance companies. Each surgery averages between $50,000 to $75,000, with some special surgeries – including hospitalisation and after-care – costing over $100,000. There is always a wait list and most situations are urgent,” she said. The Heart Ball committee is the main fundraising arm of the Sir Victor Sassoon (Bahamas) Heart
Foundation. Every year, the committee works from June to February to make the ball a reality, soliciting ads, gifts, donations and sponsors. While the committee has not set a target sum, it hopes to raise enough money from the ball to help send several children for surgery. The committee also makes a special appeal for donations from those who may have been assisted in any way by the organisation in the past. “People should come out to the event or give a donation to the foundation to support the surgeries of the children. We are assisting children, mostly under five years, who cannot speak for themselves. Some persons may not even have been told of their assistance or surgeries as a child (which the foundation as assisted with since 1961), but if each person with their families who was assisted could give back at least $100 per annum, they could assist others who are now in their plight,” said Ms Cambridge.
Scientists identify eight ‘sleep disorder’ genes Including medication, it can take quite a lot to make some people sleep. The latest research suggests that some genes are responsible for sleeplessness. Insomnia is a state of being unable to sleep. Sometimes it can be as a result of stress from work, family and other situations. But it is also sometimes how people’s brains and bodies function. For the first time, researchers have been able to identify eight genes that cause insomnia or excessive sleepiness during the day. Feeling tired and weak during waking hours could also be a result of not getting enough sleep, other sleep disorders, drugs or a health issue. The research also showed that some of the genes attributed to disturbed sleep patterns appear connected to other disorders as well. These include restless leg syndrome, schizophrenia and obesity. Dr Richa Saxena, study coauthor and Assistant Professor of Anesthesiology at the Massachusetts General Hospital and Harvard Medical School, said: “It was known that sleep disturbances may co-occur with many diseases in humans, but it was not known that there are shared genetic components that contribute both to sleep problems and these conditions.” About 30 per cent of people all over the world have some type of sleep disorder, according to experts. They also suggested that almost 10 per cent of people in the US have symptoms that are clinically described as insomnia. Biological traits inherited from family lineage affects sleep. So do environmental factors such as noise, broken sleep (nursing mothers) and stress. Earlier research has shown genes are associated with other sleep disorders such as narcolepsy and sleep ap-
Bettyjoe Cooper
Study reveals links to schizophrenia and obesity nea. Yet, these are the first genes directly linked to insomnia. Disturbed sleep gene connected to other diseases The study concentrated on widespread instances of insomnia and other sleep disorders in over 100,000 UK adults. For accurate results from this health exercise, the genes of the participants were documented together with other vital information such as weight and other medical issues. This revealed strong links to some health issues like restless legs syndrome, insulin resistance, depression, schizophrenia and obesity. The traits associated with people sleeping longer on average showed a link to schizophrenia risk. The genes linked with excessive daytime sleepiness were also linked to obesity. Dr Saxena found that earlier epidemiological studies into sleep problems suggested there was a connection. “But it was not known (until this study) that there are shared genetic components
Insomnia might be down to genetics, a new study suggests. shared underlying biological pathways that contribute to both sleep problems and these shared conditions,” she said.
Many other genes might also be involved
According to Dr Saxena, finding it hard to sleep at night is unlikely to lead to a higher risk of having restless leg syndrome, schizophrenia and obesity. She further said
that,“this research is not yet able to determine if disturbed sleep causes these disorders or vice versa.” Dr Saxena said that in reality, it is possible that many different genes gave rise to both sleep troubles and these medical issues. But this new study shows some relationships. She conceded that they are a long way away from assisting anyone to sleep better or practically treat these various problems,
but she hopes that it will help researchers to design and test different drugs to treat sleep disorders. It’s great news that there may be a genetic explanation to why people with these problems are more likely to have trouble sleeping. • Bettyjoe Cooper is a selfpublished author and the founder of the Brand New Mattress Company, a retailer of bedding products located in Nassau.
Staging gender: The trouble with stereotypes As a nation we seem to be determined to deny ourselves the best of what we offer others. We have established a set of stereotypes that are controlling the culture of the country and we continue to build on these, as much as they do us a disservice. In fact, stereotypes that the state relies on to sell our destination destroy the very culture they claim to be supporting. Since the 19th century, if not earlier, particular stereotypes of black people have been circulated by the mainstream press and then by the media that imprison us in a place that is not nice, as people here say. They tell us that black folk will never become anything, that all black women are loose and steal their mistress’s husband and that black men are dangerous, irresponsible and overly sexualised. Moving into the late 20th century, as this column has explored on numerous occasions, we begin to see the rise of a different form of violence and irresponsibility, not mention the hyper-sexualised identity being blazed all over the screens, pages and airwaves. Black boys are thugs and gangsters and certainly not any good at anything other than basketball, if they are good at that. Author and social activist bell hooks explores these stereotypes. What is ironic,
Dr Ian Bethell-Bennett though, is that we use these same stereotypes to destroy the people we claim to be helping. As a reputed black nation, it is significant that we deploy images of young men as no good and only being walking beer holders and violent slum dwellers. Our steadfast description of young men from Bain and Grants Towns, for example, as violent and no good, has only reinforced the very notion that this is all they can do. Cleveland Eneas’ book ‘Bain Town’ shows a different side to them, but this side has apparently been ignored. We also tell them that all they need do is make babies and enjoy women’s bodies. They need do no more and they are considered daddies, and this is what masculinity is. It’s a tragic misunderstand-
ing that holds way too much sway in this country. This is an image that has stayed with us from the time when Mrs Carmichael (who published ‘Five Years in Trinidad’) observed the English West Indies slave society in the early 19th century. To go with that image, we see women who are no good, loose and skillfully manipulative. We often hear about women who use men and dry them up. These cutters, as we are happy to call them, have no moral compass and apparently function without any encouragement. We forget that many young women have been encouraged in the art of transactional sex by mothers who ‘encourage or welcome’ the dollars they bring into the home. We see them out at a parent’s behest selling what singer Mighty Sparrow says one can get for free when the ‘Yankees Gone’. Sadly, this image, too, finds resonance in old images of enslaved women during and immediately after slavery. What is funny is the full acceptance that has been given to these cultural stereotypes in the country. Even though once these stereotypes were used to belittle blacks by a plantocracy who liked laying down with ‘loose black women’ and getting up with many more babies they could call slaves and use indiscriminately.
The masters and mistresses who had these children often referred to them as mulattoes, and like the mules, they were thought to be unable of breeding, and they would be exploited even more. The cruelty of the gentle form of local slavery played on in Bahamian letters is not surprising, but its long-lasting images in the local arsenal of development parlance is. As much as we claim to be empowering people, we view them as nothing more than stereotypical renderings of dysfunctional social outcasts. In popular culture, as discussed last week, women are hoes and men are thugs. This differs little from earlier images where women were wanton and men were cattle used to do hard labour, including keeping the slave stock up. The talk of breeding and the man’s role to breed women and the women’s role to be passive receptacle is utterly distasteful in the 21st century. However, as the culture and country becomes poorer and so less able to survive, people are increasingly forced into ‘immodest’ proposals and behaviour. We educate them not to think critically, yet we expect them to be exemplary citizens, while telling them that they are nothing more than dumb, violent beasts. Today, we have a larger, lesseducated, more media aware and
informed population who see what popular culture expects from them. We have a nation that is sold as a paradise where one can live out one’s fantasies, except that is reserved for tourists, not residents or citizens. We tell them that they breed too much and are irresponsible, and we really expect them to do or be anything other than the bottom of the barrel when what is left for them is just that? We so often talk about saving our youth, but in the next instance we condemn them for being pawns of transnational patterning and historical renderings of the dumb, dangerous, deceitful, loose Negro. We see these images all over Hollywood and New York, and we expect the Bahamian stage to be different. But how, when most young people live lives determined by media and the pressure of a disintegrating society around them, and when they become consumed by materialism and the word that women are inferior to men, and that all men must dominate through violent control because such is ordained. Why are we surprised that the local stage is filled with these very players we claim not to understand where they came from? • bethellbennett@gmail.com
THE TRIBUNE
Tuesday, February 7, 2017, PAGE 11
A journey to love By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net
the surface when we are in relationships with others,” she told Tribune Woman. Eve’s Journey has dedicated this month to love, loving oneself and being a healthy person. “We want to concentrate on being healthy so that we can have a healthy relationship. A lot of times we talk about not finding the right man or right woman. They can come, but if we are not healed and if we are not doing the necessary work, we won’t appreciate that good person when they arrive,” said Ms Davis.
S
INCE February is considered the month of love and Valentine’s Day is just a week away, many couples are on a quest to find the perfect gift that reflects their feelings for their significant other. And while this practice has its place in a relationship, sometimes too much focus is placed on material gifts that do not add real value to the union. Life coach and relationship therapist Stanya Davis suggests that couples focus on giving something more meaningful to their love lives by becoming the best versions of themselves. Ms Davis said by focusing on being a healthier and happier individual you are able to give your relationship the best chance at survival in the long term. This month, Ms Davis’ coaching institute, Eve’s Journey, will host a series of events designed to help people heal certain aspects in their lives that might be hurting interaction in their relationships. “What we want to do is
Love Lessons
Life coach and relationship therapist Stanya Davis offer introspective events for people to heal the part of their lives that need healing. We decided to focus on relationships this month because the search for love is the search for self. For the most part we find ourselves and find out who we
are when we are in relationships. We learn what baggage we have, what we can deal with, how to compromise and how to forgive. In relationships we see ourselves just as we are. We see where our pain is because most of our issues rise to
One of two major events Eve’s Journey will host is ‘Love Lessons’, a monthly series where speakers will be invited to talk on a myriad of issues that affect people and relationships. The event will also feature a live interview with author Nekisha Rolle who recently released “Broken Wings: From Hurt to Hope”. “We will focus on relationship depression and how to navigate an unhealthy relationship – how to let go of it – and how to let go of depression caused by relation-
ships,” said Ms Davis. “One thing I have realised is that relationship depression is right up there with death. You go through the same stages of grief as you go through the end of a relationship, and we have decided to focus on this because we realise we have issues letting go.” Love Lessons is a twopart event that will also feature a healing workshop. “It is also a teaching module to show people how to let go, forgive and love themselves just as they are,” she said. A ‘Love Lessons’ session will held on February 17. A venue and time will be announced later.
Love’s House
Even though Eve’s Journey caters specifically to women, the coaching institute also encourages fellowship with men. ‘Love’s House’ is an event for both men and women that will feature “soulmate storytelling”. “People sharing how they met their soulmates and how they kept their love alive throughout the years. The night is also about se-
ductive poetry. We have an artist who will be sharing. She will focus on how to spice it up in the bedroom, how to keep your mate sexually satisfied,” said Ms Davis. She said this event will give couples an opportunity for intimacy with one another and to learn how to make their love last. “It is a night of connecting with your loved one; it is a night of feeling loved. And we are doing this because a lot of the times the focus is on singles. People have events for singles but nothing for married people. We want to know from couples who have been together for some time what the secret is and what they are doing that we are not doing. It is an awesome night for singles, for girlfriends to come and do something different. At the end of the night people will learn,” she said. ‘Love’s House’ will be held on February 25. A time and venue will be announced. For more information contact 328-8668, 451-6767 or e-mail journeytoeve@ gmail.com.
Do you have a compelling reason? It was the great William Shakespeare who said, ‘Strong reasons make strong actions’. When it comes to setting goals that will take your life higher, do you have a compelling reason to take strong action? As a life coach and therapist, many people come to me because they are tired of the same old, same old. They claim that they desire to improve their life situations. Notice I said that they ‘claim to’, because claiming but remaining is still a factor in why so many people start and stop and lose momentum to go the distance. Real change takes commitment. This is especially true when it comes to habit-shifting, lifeimproving kinds of changes. Such changes demand a compelling reason. This means that you must have a deep-seated motivating reason that moves you to not only start the journey but drives you stepby-step towards your goal. Aha! Now this is where the rub-
Michelle Miller Motivationals
Michelle M Miller ber meets the road for many. Yes, they want to get to an improved outcome in their lives, but they are without a compelling reason to stay the course and go the distance. A compelling reason is simply defined as something so inspiring, so motivating and empowering
that it literally moves you to keep moving yourself forward. Even in the midst of those inevitable challenges, this compelling reason impels you to stay in the game. How many times have you told yourself that you are going to stop doing this or that in order to change this or that? For example, let’s say you decide to stop eating sugar. Your reason may be because your doctor advised that it’s negatively impacting your health. While you may actually find ways to stop doing this, the reason for changing your habit comes from your doctor’s advice; thus may not be compelling enough for you to maintain. However, if you made up your mind that you want to improve your health and well-being by being more disciplined about what you eat, not only because of what your doctor says, but more so because you want to show up in the world as a healthy wholesome individual, this gives you a more invested reason.
This compelling reason has the emotive, inspirational qualities that enable you to make the shift and stay the course. You are motivated to climb into the driver’s seat of your life. No longer are you driven by the fear of what the doctor said, but instead you are compelled by your own desire and power to improve your life. I believe it is much more compelling to set a goal that moves you to start to a new habit than to a goal to stop some old habit. The latter approach serves to keep you looking backwards. This can be depressing and places your valuable attention towards the rear view mirror of your life. On the flip side, when you set a goal to start a positive new habit, your full attention is focused towards the wide open windshield of your life. You are driven to move forward with optimism. One of my favourite sayings is: “Don’t worry about your weakness – focus on building your strength and your weakness will fade into the background.”
Besides, if you already identify it as a weakness, unless you are aiming to change it, highlighting it for highlighting sake changes nothing. Leader to leader, you are the driver of your life. Find a compelling reason within you to set goals that takes your life higher. Commit to focus your attention towards the wide open windshield of your life rather than the rear view mirror. Finding your compelling reason will drive you to live an empowered life. Yes, you definitely can do it! What do you think? Please send your comments to coaching242@yahoo.com or call 429-6770. • Michelle M Miller is a certified life coach, communication and leadership expert. Visit www. talktomichellemiller.com or call 1-888-620-7894; mail can be sent to PO Box CB-13060.
Learning to breastfeed Some women are born with the determination to have kids and some women play it by ear. Some women know exactly what type of mother they want to be, if they will breastfeed or not, and other women take it one day at a time. And both approaches are perfectly fine. If there is one question I get all the time, it is this: “What is a breastfeeding class/lactation consultation?” And further, “Why the heck do I need to have one?” Here are the top reasons why taking a breastfeeding class or opting for a private lactation consultation is so important: • Breastfeeding counsellors and certified lactation counsellors (CLC) are trained professionals in a very small and specific aspect of infant health and nutrition. Unlike nurses, midwives and doctors, who have much broader and diverse training in infant and child healthcare. CLC’s are re-certified every three years to make sure they are up -to-date with the latest and most relevant information in breastfeeding science. Yes, it’s a science and is studied and proven on a constant basis. • Prevent breastfeeding issues that can affect the outcome of your breastfeeding goals and success. I know what you’re thinking, “Shouldn’t it be a natural and easy process?” Natural, yes, easy...not all the time! If you’re thinking you would prefer to take the easy way out, you may want to re-think that thought. Think about it this way: Is child-birth easy? No. Is childbirth a natural process? Yes. I’m sure looking back on your labour experience you realise that although it was a hard and painful experience, it was also very worth it. Think about breastfeeding in the same way. It can be a little challenging in the beginning, but the pay-off in the end, once breastfeeding gets off to a good start, is so worth it – for both you and your baby. • Breastfeeding misconceptions
Bun In The Oven
Breastfeeding can be challenging in the beginning, but the pay-off is worth it – for both you and your baby.
Bianca Carter are widespread. For decades we have relied on what other mothers have told us, what we have heard over the years, and what we have seen in our own cultures. Believe it or not, a lot of this perception is inaccurate. It can also be the deciding factor in you choosing to breastfeed or not. Meeting with a CLC or breastfeeding counsellor can provide you with the most up-to-date breastfeeding techniques and information. For example, did you know that the size of your breasts does not determine how much milk you can produce? Breastfeeding does not make your breasts sag or become lop-sided. And no, you will not give your baby gas. Your CLC will address all of these and so many more very important topics that can affect breastfeeding success. • Support, support and support is so important during the first few weeks of a new baby’s and mom’s life. Being correctly informed beforehand empowers you and your partner, and prepares you with proven tools and techniques to ensure a positive and beneficial breastfeeding experience. Breastfeeding is your own decision and it’s up to you to educate yourself on the importance and benefits to both you and your baby. You wouldn’t run a mara-
thon or take an exam without preparing for it, right? Make the decision to prepare for breastfeeding if it’s something that you want to learn about so that you can make a proper, informed and intelligent decision on the health of your baby. Join us for our free breastfeeding open forum with guest speaker Eleanor Hartwick, an International Board certified lactation consultant, today at 5.30pm at Doctors Hospital. Love and hugs! • Bianca Carter is a certified lactation counsellor and founder of Bun in the Oven. For more information, e-mail her at info@ babybunintheoven. com. Follow BITO on Facebook at babybunintheoven, and check out the BITO Blog every Monday and Thursday at http://babybunintheoven.com.
WHERE HIT MUSIC LIVES W W W .
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TUESDAY, FEBRUARY 7, 2017
By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net
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alentine’s Day is just around the corner, and all over the world people will be buying fancy flower arrangements for their loved ones. While many have grown cynical about the day, citing its overcommercialisation, florist Kandice V R Cargill still believes it is a great opportunity to show your love in the most beautiful way. “Flowers are godly reminders of all that is beautiful, alive and well in the world. Valentine’s Day just happens to be the day that all of these expressions of love and beauty are highlighted,” she told Tribune Woman. Ms Cargill is the owner of the Kandice Hanna Creative flower boutique and styling company, which recently launched a new collection called “Tried & True”. The floral designs in this line, she explained, were inspired by her most loyal clients and supporters. Ms Cargill started specialising in floral arrangements in 2014 when she was approached by a local landscaping company to expand their garden centre into a flower shop to offer their clientele premium freshcut flowers. “One of their top bosses had scoped out the Valentine’s Day collection I had promoted that year and thought that I would do well and go further in the field. Until he had approached me, I had no idea that my side hustle would become my full-time hustle. I took him and his company up on their offer and dove head first into the deep end of the fresh-cut flower industry,” she said. With her birthday being February 15, it seemed only natural that she try her hand at Valentine’s Day arrangements to make some extra money, she said. Though on a much smaller and less experienced scale, it was a successful venture. Ms Cargill remembers being amazed at receiving orders throughout the year, just off the strength of that specific Valentine’s Day collection. After bringing a fresh, new look to the landscaping company that initially contracted her, Ms Cargill branched out on her own and launched Kandice Hanna Creative – a private studio and home-based flower boutique that also provides visual merchandising, event designing and branding. Since launching, however, her work has largely become about her trendy floral designs that continue to grow in popularity. Her designs usually feature heavy floral content, which she defines as more grouped flowers for impact, less leaves for distraction. She tends to use more tropical leaves, flat and rich in colour. Ms Cargill said she is always very mindful of things like balance, proportion, composition, tension, repetition, rhythm, texture, space, form and line. Her products, she
Kandice Cargill shows a customer the basics of trendy floral design
Flower arrangements by Kandice Hanna Creative said, are always deliberately artful, stylish and on-trend. For the Tried & True collection, for which roses are the primary flower, Ms Cargill said she made sure to also include arrangements for clients who are not too fond of the flower of love. It also features some masculine compositions for male recipients. And Ms Cargill teamed up with The Boutique Cake to offer her clients chocolate-dipped strawberries, French macaroons, and stylish mini cakes to complete the presentation of her arrangements. “I love that I create living art every day and live life at my own pace. In this business I’ve learned so much about the names, nature and origin of flowers, the industries and the interests of those in need of flowers, and most importantly, how to run a successful small business mindful of the numbers that matter. This flower business has provided the most profitable outlet for my creativity. I enjoy the challenge of working out the mechanics of a new design, perfecting the end product visually, and fine-tuning it for marketability and profitability,” said Ms Cargill. By far the most pleasant surprise for her has been working with the yachting industry. With the help of social media and referrals, she is
now on first-name basis with many chief stewards and captains who reach out to her when they need floral décor for their luxury vessels. “I prefer styling yacht interiors and residences the most. I love crafting that perfect piece that brings new energy to the entire space. I’m adding a dose of pretty every time, reminding the audience, in case they forgot, that this is the Bahamas. My clients and other fans of my work tell me that they love my designs because they’re so modern and different. My yacht clients are always so pleasantly surprised, some saying that it’s among the best they’ve ever purchased around the world. I think what’s most appreciated is my selection or combination of flowers and leaves and composition,” she said. Her goal going forward is to revive what she sees as a dying or largely neglected industry by continuously creating attention-grabbing arrangements for everyday presentation and special occasions. “I intend to host classes to educate more people, particularly Millennials, to garner interest in this potentially lucrative industry and workshops to share the joy of flower arranging, creating more flower lovers in the market,” she said.
“Flowers are godly reminders of all that is beautiful, alive and well in the world. Valentine’s Day just happens to be the day that all of these expressions of love and beauty are highlighted.”