business@tribunemedia.net
WEDNESDAY, MARCH 15, 2017
$4.20 PLP chair branded ‘delusional’ as debt ratio soars to 78% By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Bradley Roberts was yesterday branded “delusional” for asserting that the Christie administration had “rescued the Bahamas from the brink of the fiscal cliff”, after it emerged that this nation’s debt-to-GDP ratio ended 2016 at 78 per cent. The timing of the Central Bank’s 2016 fourth quarter report release was unwelcome for the Progressive Liberal Party (PLP) chairman, who yesterday attempted to bask in the Government’s Value-Added Tax (VAT) introduction. Referring to the upcoming general election, Mr Roberts said in an e-mail statement: “We will continue to stand on our record of rescuing this country from the brink of the fiscal cliff and the smooth implementation of VAT....” The Central Bank’s report, though, dents some of that optimism, as it shows See pg b5
Claim Bahamas ‘rescued from fiscal cliff’ attacked ‘So embarrassed’ at legacy left to next generation Debt jumps $373m in 2016; Q2 deficit up 169%
Sir Franklyn Wilson yesterday said “it’s been a long time since I smiled this broadly”, as his partnership with Tiger Woods golf course design firm to develop a private club at Jack’s Bay, Eleuthera, was unveiled. The Sunshine Holdings chairman said he was prevented by the “protocols” of how Mr Woods’ company, TGR Design, operates from going into key details on the project, which will be located at Rock Sound. However, he confirmed that Jack’s Bay Developers, the entity which he heads, included some of the most prominent Bahamian companies and families among its shareholders. Sir Franklyn explained that Jack’s Bay Developers was effectively a subsidiary of Eleuthera Properties Ltd, the company formed to develop the nearby Seashells at Cotton Bay devel-
The Government was yesterday urged to stop developing social programmes “we have no capacity to afford”, a prominent governance reform campaigner arguing against pushing forward with the National Health Insurance (NHI) scheme. Robert Myers, a principal See pg b3
$4.23
FOCOL ‘couldn’t allow’ Rubis LPIA fuel control By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
FOCOL Holdings yesterday said it acted “in the national interest” by acquiring half of Sol Petroleum’s stake in Lynden Pindling International Airport’s (LPIA) fuel farm operations, thereby preventing a foreign rival from taking “clear control”. Sir Franklyn Wilson, the BISX-listed fuel supplier’s chairman, told Tribune Business that the decision to increase its equity to interest to 50 per cent was motivated more by a desire to prevent Rubis (Bahamas) from gaining majority
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net PLP chairman Brandley Roberts. Photos: Terrel W. Carey/Tribune Staff
Tiger teams with Sir Franklyn at Jack’s Bay Sunshine chief: ‘Long time since I smiled like this’ Same Bahamian investor group as at Cotton Bay opment. While the Sunshine Holdings group is Eleuthera Properties’ largest shareholder, he added that its other investors - who also stand to benefit from the Jack’s Bay project - include the likes of Colina, BAF Financial, the John Bull Group of Companies and Royal Bank of Canada (RBC). Besides the corporate investors, Sir Franklyn said the Anglican Church had See pg b2
Govt develops social benefits ‘we can’t afford’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
$4.22
Sir Franklyn: Firm acted ‘in national interest Petroleum suppliers now 50/50 partners at airport Each buy out half of Sol Petroleum’s onethird stake Sir Franklyn WilsoN ownership, rather than immediate investment returns. He suggested it was in the country’s wider interests that no company, and espe-
cially a foreign-owned one such as Rubis, have majority ownership of fuel supply to such a strategic infrastructure asset like LPIA.
Sir Franklyn was speaking after FOCOL confirmed, in its financial results for the quarter to end-January 2017, that it had “purchased one half of Sol Petroleum Bahamas” interests in the LPIA fuel storage and supply operation. The deal, which closed on January 23, has left the BISX-listed company and Rubis as joint 50/50 partners in the Joint Operating Agreement that covers the ‘fuel farm’ operations at LPIA. Explaining the rationale for the purchase, Sir Franklyn told Tribune Business: “We did that in what we fundamentally perceive to See pg b4
‘One of most reckless, dangerous pledges ever’
Eleuthera project out of the Woods By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
$4.24
Governance reformer urges NHI halt Scheme is $23m, or near 25%, of Gov’t Q4 subsidies ‘Reckless’ to add more without tackling NIB
A prominent businessman yesterday described Dr Hubert Minnis’s pledge to reverse Baha Mar’s sale if elected as “one of the most reckless and dangerous statements I’ve ever heard from a political leader in Bahamian history”.
Sir Franklyn Wilson, the Sunshine Holdings and Arawak Homes chairman, told Tribune Business that all political parties - dating back to United Bahamian Party (UBP) times - had taken positions “diametrically opposed” to the FNM leader when it came to honouring investment agreements made by previous administrations. He added, though, that the Bahamas had been
“fortunate” because Dr Minnis’s statement was “so extreme” it was unlikely to scare away or alter investor decision-making. Sir Franklyn then suggested that Dr Minnis’s statement “played into this narrative” that the Free National Movement (FNM) has been “put up for sale”, and that the Baha Mar comments were made to unlock election campaign funding See pg b4
Sir Franklyn slams Dr Minnis’s Baha Mar promise Suggests remarks made to unlock Sarkis funding ‘So extreme’ no investor will believe them
PAGE 2, Wednesday, March 15, 2017
Govt moving ‘full steam ahead’ with landfill outsource By NATARIO McKENZIE Tribune Business Reporter
nmckenzie@tribunemedia.net
A Cabinet Minister yesterday said the Government was preparing to move “full steam ahead” with both the privatisation of operations at the New Providence landfill and “fine tuning” its remediation plan. Speaking with Tribune Business ahead of a Cabinet meeting, Kenred Dorsett,
minister of the environment and housing, said a meeting was held late last week at the Prime Minister’s Office (OPM) on the landfill management issue. “There was a meeting at the OPM late last week on that issue. We do know that our engineers are now revising the plans,” Mr Dorsett said. “Due to the fire some things have to change in terms of what we do, and they are preparing docu-
mentation now which will assist us in being able to move full steam ahead - not just with the privatisation of the operations but to fine tune the remediation plan. That’s going to be important.” Mr Dorsett added: “Operations alone is not going to solve that problem. Remediation is an important component, too. It ensures that the environmental degradations that have taken place for decades are halted
and addressed. Renew Bahamas walked away from its New Providence landfill management contract in the immediate aftermath of Hurricane Matthew, citing security and safety concerns amid the absence of electricity supply, and a spate of thefts and shootings. It had previously been seeking to renegotiate its management contract and associated financial terms with the Christie admin-
Eleuthera project out of the Woods From pg B1 also been “gifted” shares in Eleuthera Properties Ltd, while the estates of the late John Morley and Billy Lowe were also among the shareholders. Emphasising the company’s strong ties to Eleuthera, Sir Franklyn said the investors also included the estates of the late Albert Sands and Whitfield Kemp. Another Eleuthera shareholder is businessman Lawrence Griffin from Governor’s Harbour, while Sir Orville Turnquest, the former governor-general, and his family are also invested. Emphasising how the financial benefits from a successful project will be spread, he told Tribune Business of the investor base: “These are iconic figures in the Bahamas; these are names that are pretty much household names in the Bahamas. “The best and biggest life and health insurance company, a major bank. These are all names that are pretty well-recognised in the local community.” No information was forthcoming from either Sir Franklyn or his partner, Beacon Land Development, on the amount of
investment that will go into Jack’s Bay, or the number of construction and full-time jobs that will be created for Bahamians. The project is being designed as a private members’ club, and is being billed as the location for the Caribbean’s first Tiger Woods-designed golf course. “It’s taken a long time, but all things come in time,” Sir Franklyn told Tribune Business. “Look at the smile on my face. It’s been a long time since I smiled that broadly.” Describing his partnership with Beacon Land Development and Mr Woods’s company as “truly, truly remarkable”, Sir Franklyn implied that Jack’s Bay had received all the necessary investment and planning approvals to proceed. “We wouldn’t have issue a release recklessly,” he added. “Tiger Woods wouldn’t have announced something where the ‘i’s’ were not dotted and the ‘t’s’ not crossed.” Mr Woods, in the statement unveiling the project, said: “I am honoured to be part of this spectacular project in paradise. “The amazing convergence of land and sea calls
(L-R) Byron Bell (President of TGR Design), Sir Franklyn Wilson, KCMG (Chairman of Jack’s Bay Developers) and Michael Abbott (President of Beacon Land Development) celebrate a historic moment at Jack’s Bay - a new luxury residential community and private club, located in Rock Sound, Eleuthera. for an equally unique and incredible golf experience that TGR Design can deliver. The golf course complements this luxury resort destination because it’s designed for golfers to have fun, while still being challenged. The biggest challenge might be to remain undistracted by the phenomenal view.” Jack’s Bay said development work on amenities such as The Pink House, Pink Sand Bar, The Playgrounds and 10-hole, short golf course, designed by TGR Design, was underway, with more facilities planned for 2018. These amenities will
include residential resort features such as oceanfront suites, cottages and villas. Renderings of Jack’s Bay show it is intended to feature a beach club; five founders’ lots; 42 beach club suites; 46 cottages of between 1,20-2,500 square feet; 47 estate lots with room for more later; a golf practice facility; and amenities for riding, hiking, biking and fishing. Sir Franklyn added: “Bringing Beacon and Tiger to this residential resort opportunity in the Bahamas is nothing short of remarkable. Uniting the rich Bahamian cultural heritage and Eleuthera’s unmatched
istration, having revealed to Tribune Business it had been incurring continuous, heavy losses. The Government subsequently indicated that Renew Bahamas had used Hurricane Matthew as an excuse to pull-out, having realised that its business model - which depended almost exclusively on the sale and export of materials recycled from the landfill - was not viable or sustainable. beauty, with the luxury assured by Beacon and Tiger, makes this exceptionally unique.” Michael Abbott, President of Beacon Land Development, said: “We have a responsibility...to the land and to the Bahamian community at large,. “Jack’s Bay is special because of the people. Now we have the opportunity to share our collective vision with the people of Eleuthera as well as the rest of the world. We are grateful to Sir Franklyn Wilson for his partnership, and we are extremely motivated to curate another golf course experience with Tiger and his team. We are all committed to delivering unique spaces in special places.” Beacon Land Development has a 50-year history in developing private clubs, real estate developments and resorts. It recently teamed with TGR Design at Bluejack National, a resort-style club and community featuring the only Tiger Woods-designed golf course in the US. Mr Woods is already an investor in the Bahamas via his partnership with Joe Lewis’s Tavistock Group at the Albany development in southwestern New Providence.
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Tourism feels US storm impacts By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
The Bahamas Hotel and Tourism Association (BHTA) yesterday said the sector was feeling the effects of the fast-moving snow storm impacting the northeastern US, as flights to this destination have already been among a vast number of cancellations. Carlton Russell, the BHTA’s president, in an emailed response to Tribune Business queries, said: “The Bahamas Hotel and Tourism Association (BHTA) continues to monitor the storm currently affecting the east coast of the US. “We are liaising with industry partners, such as the Nassau Airport Development Company (NAD), to attain information related to flight delays and cancellations at Lynden Pindling International Airport.” Airlines have reportedly cancelled more than 4,000 flights ahead of the storm. The US National Weather Service issued blizzard warnings for parts of Pennsylvania, New Jersey, New York and Connecticut, with forecasts calling for up to two feet of snow by early today. Some 50 million people along the US eastern seaboard were under storm or blizzard warnings and watches. Mr Russell said: “Flights from the Bahamas to parts of the east coast, and flights emanating from the affected areas, to the Bahamas, have been impacted as part of a vast number of regional and international flight cancellations due to the storm. “We will continue to assist in the dissemination of any information received to assist member properties and other industry stakeholders in their efforts to help keep guests informed. We hope the populations who are and will experience the storm are minimally affected.”
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Bahamasair chair’s plane loss concern Tornado hit just before peak Easter travel Expects damage covered by insurance
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Bahamasair’s chairman yesterday expressed fears that its upcoming services for the peak Easter travel period may be disrupted, after one of its 70-seater ATR planes was damaged by the early Tuesday morning tornado that struck the Lynden Pindling International Airport (LPIA). i Valentine Grimes told Tribune Business that the airline had contacted the manufacturer, with technicians and engineers already on their way to the Bahamas to assess the damage. “We are making an assessment to the extent of the damage,” he said. “That assessment will be carried out with the assistance of the manufacturers. They are on their way with the engineers to assess the damages. “At the end of the day, it depends on how long it will take for the damages to be repaired once the assessment has been completed. Any adverse effect will depend on that because we do have the heavy travelling period coming upon us.” Mr Grimes added: “To the best of my knowledge this should be covered
NAD workers clean and repair damages after a tornado storm tuesday night. Photos: Terrel W. Carey/Tribune Staff under the insurance. We see no reason why there should be any disruption to the extent that we have a 70-seater that will not be serviceable until after we have made an assessment and repaired whatever need to be repaired.” The Bahamasair chairman described the incident as “unfortunate”, as it comes amid what he described as a financial turnaround for the airlines. “The airline is in the process of being turned around financially. We continue to reduce our operating expenses, and in that regard they have been reduced by some 50 per cent over the last three-and-a-half to four years,” Mr Grimes said. “Obviously this will put
Govt develops social benefits ‘we can’t afford’ From pg B1 for the Organisation for Responsible Governance (ORG), was speaking after the Central Bank revealed that almost one-quarter of the Government’s subsidy payments in the final three months of 2016 related to NHI. Its 2016 fourth quarter report, disclosed yesterday, said: “The expansion in current spending was largely attributed to a $26.9 million (11.7 per cent) rise in transfer payments to $257.6 million, as subsidies firmed by $19.6 million (24.2 per cent) to $100.6 million - a quarter of which ($23 million) related to preparations for the National Health Insurance (NHI) scheme.”
Mr Myers, in response to the Central Bank report, told Tribune Business of NHI: “The Government can’t afford that right now. “We’ve got to get NHI out of creating efficiencies in the existing system, not in spending money. Let’s create these efficiencies, and once we see the fruits of our labour, we can turn around and figure out how to spend that money on a more efficient system.” Mr Myers added that the Government was continuing to develop new social benefits programmes, which required extra spending, despite having been repeatedly told that its main social security scheme - the National Insurance Board (NIB) - will likely be bank-
a slight delay in it. There is a demand for us to have a third 70-seater, and obviously Bahamasair will be moving in that direction as soon as it can to acquire an additional ATR.” He explained that the plane damaged on Tuesday morning was one of two 70-seater ATRs that have been filling a “good niche” for Bahamasair, as they can be used on certain routes where a jet is not feasible. “We will take every precaution to ensure that whatever damage has occurred is properly repaired before the plane is put back into service,” said Mr Grimes. Nassau Airport Development Company (NAD) told Tribune Business that all flights were operating as
normal yesterday. “The Lynden Pindling International Airport sustained cosmetic damage due to a weather system,” said NAD’s Marketing and communications manager, Jan Knowles “The airport’s operations were not impacted and passengers were able to check in and board their flights as normal. There was damage to several vehicles in LPIA’s parking facility, vegetation and the roof of the domestic parking lot pay booth suffered some damage. “Areas of the airport terminal lost power temporarily. A Bahamasair aircraft was impacted by the system. All flights are operating as normal.”
rupt by 2029-2030 without serious, urgent reform. “They’re spending money they don’t have,” he told Tribune Business. “We’ve got to get business minds involved in these decisions, and work on real, tangible change that results in the lowering of expenditure, then worry about the benefits. “If we’re putting in place social benefits that we have no capacity to afford, who are we fooling if that system collapses? We’re talking about NIB being bankrupt by 2030, but are still looking at putting in other social benefits. “That’s just irresponsible, and people can’t afford another tax, as VAT has removed so much from the economy. It’s just reckless,” he added. “Do the work, change the system up, get efficiencies and accountability, and
see where that takes you. Implement a more efficient system; don’t make these assumptions just to make a fool of us.”
Wednesday, March 15, 2017, PAGE 3
Fitzgerald: Minnis trying to ‘wreck’ Bahamas economy By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
A Cabinet Minister yesterday again hit out at Free National Movement (FNM) leader, Dr Hubert Minnis, over his recent pledge to find a new purchaser for Baha Mar, accusing him of seeking to “wreck” the Bahamian economy. Jerome Fitzgerald, minister of education, science and technology, who was one of the Christie administration’s lead Baha Mar negotiators, said Dr Minnis’s statement was not a good signal for investors. The FNM leader, in a recent posting on his Facebook page, suggested that the party, should it win the upcoming general election, would undo Baha Mar’s sale to Chow Tai Fook Enterprises (CTFE) and instead seek a different buyer for the $4.2 billion development. “It appears that he is a ball of confusion and ignorant of the facts as it relates to Baha Mar,” Mr Fitzgerald blasted “The Government doesn’t own the hotel and has no interest in it with regard to a legal interest, and therefore cannot dictate who the hotel is sold to. “The second point is with regard to the statement about approving a new buyer; we’re already past that point. The Government has indicated that it has approved the sale to CTFE,
Jerome Fitzgerald and CTFE has indicted that they are in the process of finalising the purchase price.” Mr Fitzgerald added: “At this point, employees have been hired, and thousands of employees will be hired in the coming weeks and months as we move towards a soft opening which will be in April as scheduled. “It’s a poor statement to investors. He is obviously trying to wreck the economy. Those irresponsible statements are not becoming of anyone wanting to lead this country. Those comments are baseless and have no basis in facts. He knows that and is still trying to create fear and confusion around the issue.”
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, DANNY DENNIS PIERRE of Pine Dale, P.O. Box ER-6067, Eight Mile Rock, Bahamas intend to change my name to DANNY DENNIS GAYLE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
PAGE 4, Wednesday, March 15, 2017
FOCOL ‘couldn’t allow’ Rubis LPIA fuel control From pg B1 fundamentally perceive to be the national interest. “When you have a company like FOCOL Holdings, with its standing in the capital markets, there are times when it has to look beyond short-term investment returns for the larger, common good. “If we had not done that [bought half Sol Petroleum’s interest], Rubis would have had a clear control of the business at LPIA,” he added. “We just thought we had to, in the national interest, now allow that to happen.” Under the previous LPIA ‘fuel farm’ structure, the three oil ‘majors’ - FOCOL
Holdings (Shell); Sol Petroleum (Esso); and Rubis - each held a one-third equity interest, and took turns in operating the supply of aviation fuel to airlines at the airport. Rubis and FOCOL each acquired half of Barbadosheadquartered Sol’s interest, as the company that entered the Bahamas threefour years ago via the purchase of Esso’s interests exited the LPIA operation. “Imagine if we had not done that,” Sir Franklyn said of his company’s actions. “Rubis would have had two-thirds and we would have had one-third, and that would have given them a very significant de-
gree of control at LPIA. “It was important to protect against any company, such as Rubis, and I don’t criticise them, but it is a company not headquartered in the Bahamas. It is a company that does not have a long history in the Bahamas. “We just thought it was important to leave the country in a position where the citizenry, in an open way, would know there was a degree of protection where Bahamian influence was significant enough that at all times the public interest was protected.” Rubis, which is headquartered in France, has extensive interests throughout the Caribbean. It entered the Bahamian wholesale and retail petroleum supply market via its acquisition of Chevron Texaco’s
operations, continuing a trend begun when FOCOL Holdings bought Shell’s business. Sir Franklyn suggested yesterday that had FOCOL not acted to ensure an equal partnership at LPIA, Rubis would have obtained too much control through a two-thirds majority equity stake. This, he implied, could have allowed Rubis to ensure it became the fuel farm’s permanent operator, rather than continue rotating this between the oil companies, as has been the traditional practice. This would also have permitted Rubis to earn from both the top (revenue) and bottom (profit) lines, while FOCOL would have had to wait for its share from dividends. “We have our 50 per cent
‘One of most reckless, dangerous pledges ever’ From pg B1 from the project’s former developer, Sarkis Izmirlian. “I think that was one of the most reckless, dangerous statements I’ve ever heard from a leader of any major political party in the history of the Bahamas,” Sir Franklyn told Tribune Business, as the furore over Dr Minnis’s Facebook posting continued. Naming leaders ranging from Tommy Turnquest to Hubert Ingraham, Sir Lynden Pindling and Perry Christie, he added: “I cannot recall one statement they ever made that was as unwise and unfortunate as was that statement.” Dr Minnis’s posting suggested that the FNM, should it win the upcoming general election, would undo Baha Mar’s sale to Chow Tai Fook Enterprises (CTFE) and instead seek a different buyer for the $4.2 billion development. He promised that if elected to government the party would “engage and execute a real sale” of Baha Mar, and added that his administration would seek “a qualified and respectable purchaser who believes in Bahamians”.
Dr Minnis has since sought to clarify his remarks, saying an FNM government would seek a purchaser for Baha Mar if no sale had been closed by the time it took office - a reference to the fact that CTFE’s acquisition has not completed, with the deal contingent on Baha Mar’s $700 million construction completion. His comments, though, have exposed him to attacks by Government ministers, who have accused him of seeking to undermine Baha Mar’s impending opening and potential employment for up to 5,000 Bahamians, along with a much-needed economic growth boost. Private sector leaders, such as Chamber chairman, Gowon Bowe, have also expressed concern that Dr Minnis’s statement is the latest in a series of pronouncements from all political parties that potentially threaten to undermine both Bahamian and foreign investor confidence in this nation. Mr Bowe on Tuesday told Tribune Business that the FNM leader’s remarks could undermine the Bahamas’ long-cherished reputation for political stability,
Dr. Hubert Minnis the leader of the opposition conducted a follow assessment of Jubliee Gardens. Photos/Terrel W. Carey/ Tribune Staff something that holds the country in good stead with Standard & Poor’s (S&P), which recently downgraded it to ‘junk’ status. He added that the Opposition political parties needed to present evidence to justify their claims, and only seek to re-negotiate the Baha Mar deal if it could be shown it was egregiously against the Bahamian people’s interests. Sir Franklyn, meanwhile, seized on Dr Minnis’s state-
ment as further evidence that he and the FNM are surrogates for Mr Izmirlian. “There has been considerable speculation in the community as to why he did it,” Sir Franklyn said of Dr Minnis’s Facebook posting. “Clearly, he’s pandering to a particular individual.” Declining to refer to Mr Izmirlian by name, he added: “The question is why was he pandering to the individual, and why was he pandering to that individual
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interest, and are in a partnership to ensure there is room to negotiate such matters,” Sir Franklyn said of the fuel farm’s operator. “That was part of the significance of making this arrangement; to ensure the country is not in one hand. “Because we are 50/50 partners, and they are the current operating partners, they know there is some private sector non-regulator check on what they can do in terms of operating in that space.” Declining to disclose how much FOCOL Holdings paid for its share of Sol Petroleum’s equity interest, he added that the company had yet to estimate how much it was likely to earn in returns from its increased stake. “It’s not our priority right now,” Sir Franklyn said.
“The company has a lot of other things on its plate, and will get around to that in time.” He added that FOCOL Holdings had proven its worth to the Bahamas in Hurricane Matthew’s immediate aftermath by ensuring fuel supplies could still be delivered to Bahamas Power & Light (BPL) and wider New Providence, even though the Clifton Pier jetty was “compromised”. Praising the company’s Bahamian management and engineers for their work, Sir Franklyn said: “This thing about ‘believe in Bahamians’; that’s not a slogan as far as we are concerned. “FOCOL is beginning to progressively manage in spaces in this society that are very important.”
at this particular point in time? “The clear impression that has been given was that statement was specifically calculated to cause a particular individual to unlock funding, which Dr Minnis appreciates he would need to fight a credible general election campaign.” While Mr Izmirlian would likely have ‘an axe to grind’ with the Government and the Progressive Liberal Party (PLP), given the help it gave the Chinese in ripping away Baha Mar and his family’s $800-$900 million equity investment, no evidence has been produced to suggest he is financing the FNM campaign. However, Dionisio D’Aguilar, one of Baha Mar’s Board members under Mr Izmirlian, plus two former Baha Mar executives in the shape of Marvin Dames and Jeffrey Lloyd, are all FNM election candidates. “It plays into this mantra, plays into this narrative that he has put his party up for sale with one buyer,” Sir Franklyn told Tribune Business. “It just lends credence to that. “I say that with a degree of empathy, because I have been close to the process of funding elections in the Bahamas. It’s not easy. “It’s difficult and challenging. The leaders of political parties are under immense pressure, now and in the past. I can understand the pressure he’s [Dr Min-
nis] under, but in searching for solutions don’t destroy the wide consensus that has developed about the way to lead the country to prosperity.” Sir Franklyn argued that all political parties, dating back to UBP days, and with the exception of the Vanguard Socialist Party, had “taken positions diametrically opposite to what Dr Minnis said” when it came to honouring bona fide investment agreements. He added that the ‘saving grace’ for the Bahamas was that Dr Minnis’s remarks were “sufficiently extreme that, in my humble opinion, no reasonably prudent investor will take it as serious comment or interpret it in such a way that it influences their judgment”. “It’s seen as too extreme, too out of the ordinary,” Sir Franklyn continued. “It’s too distant from what they would have heard from any other leader in the country. How do you take it seriously? I don’t see how you do. “It’s potentially dangerous, and there’s no good to it, but the fortunate thing is that it’s so extreme that I don’t believe anyone contemplating investment in the Bahamas will be frightened by it.” Sir Franklyn Wilson said his joint venture at Jack’s Bay, Eleuthera, with a major development company and Tiger Woods’ golf course design firm had not been impacted by Dr Minnis’s comments.
NOTICE
NOTICE is hereby given that DIEUDONNE JEANBAPTISTE of North Palmetto Point, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of March, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, ASHLEY MONIQUE WOODPIERRE of Pine Dale, P.O. Box ER-6067, Eight Mile Rock, Bahamas intend to change my name to ASHLEY MONIQUE WOOD-GAYLE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
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Wednesday, March 15, 2017, PAGE 5
PLP chair branded ‘delusional’ as debt ratio soars to 78% From pg B1 that the national debt increased by $373.1 million during 2016 to break the $7 billion barrier at year-end, closing at $7.042 billion. The increase was exacerbated by the blow from Hurricane Matthew, which forced the Government into some $130 million in unanticipated borrowing from a syndicate of commercial banks, while also negatively impacting its revenue collections. While Matthew was a key factor behind a 168.6 per cent year-over-year increase in the fiscal deficit for the final three months of 2016, rising from $85 million to $228.3 million, the Central Bank report emphasises this was not the sole factor. Robert Myers, a principal with the Organisation for Responsible Governance (ORG), and a leading fiscal reformer, told Tribune Business that Mr Roberts’s comments suggested he was out of touch with the fiscal reality and what it meant for ordinary Bahamians. With the Central Bank’s report suggesting a different reality, Mr Myers said of the PLP chairman: “He’s delusional. I’d like to see that rescue plan if he has one. “If they’ve got a plan to rescue us from the fiscal cliff, I’d like to see it, because we’ve certainly not benefited from that; not by a long shot. Definitely not.” Mr Myers, who chaired the Chamber of Commerce and the Coalition for Responsible Taxation (CRT) for much of the VAT build-up, said that while implementation had been smooth, much of that had been down to the private sector. He emphasised that VAT was not a ‘cure all’ or panacea for the Bahamas’ fiscal woes, adding that it needed to be accompanied by other reform measures, especially spending controls and cuts. And Mr Myers pointed out that the $1 billion-plus in VAT revenues collected since the tax’s January 2015 implementation represented monies sucked away from Bahamian consumers and the private sector. “VAT is part of the measures; it absolutely helps, but in many ways it has hurt a tremendous amount of Bahamians,” he told Tribune Business. “It can’t be considered as the end all, be all. “There’s a tremendous amount of more work that has to be done. We’ve not started on a Fiscal Responsibility Act, achieving a balanced Budget. “That’s a long way off, and once we’ve got a balanced Budget, we’ve got to figure out how to repay the debt. If the idea is to grow the economy to repay the debt, his [Mr Roberts’] economics leave a lot to be desired.” Rick Lowe, a fiscal ‘hawk’ with the Nassau Institute think-tank, was just as scathing of Mr Roberts’s assertions, pointing out that
as a veteran politician he had been involved in many of the decisions that had brought the Bahamas to its present fiscal crisis. “Unfortunately, many of the political class will be dead and gone,” he told Tribune Business, “but what we’re leaving to our children, we should be so embarrassed. “Until they [the Government] decide to hold the line, nothing’s going to change. The deficit and spending are out of control, and they can’t seem to find a way to put the brakes on. It’s pedal to the metal; damn the torpedoes.” Mr Lowe added: “There’s no incentive for people to invest in or expand their business. There’s too many doubts out there.” The Central Bank’s report said the Bahamas’ debt-to-GDP ratio hit 77.9 per cent at year-end 2016, a 2.6 percentage point rise on the 75.3 per cent some 12 months prior. The 2016 increase, blown by Matthew, was greater than the percentage rise in 2015, pushing the Bahamas’ debt-to-GDP ratio well beyond the so-called 70 per cent ‘danger threshold’ identified by the International Monetary Fund (IMF), above which countries can lose control of their financial affairs. The Government’s direct debt, which strips out the borrowing it has guaranteed on behalf of public corporations, closed 2016 just below that threshold, standing at $6.313 billion or 69.9 per cent of GDP. It increased by $399.2 million or 6.8 per cent year-over-year. Mr Myers said the total national debt-to-GDP ratio at end 2016 was lower than he anticipated, having predicted it would be between 80-85 per cent. However, he acknowledged that at 77.9 per cent, “it’s still way too high”. The Central Bank’s report said: “Provisional data showed that the Government’s overall deficit increased during the second quarter of fiscal year 20162017 to $228.3 million, from $85 million in the same period of the previous fiscal year, attributed in part to a rise in unplanned hurricane recovery related spending and disrupted revenue collections following the storm. “Deficit financing was secured primarily from domestic sources and included a special $130 million syndicated hurricane relief loan.” It added: “Budgetary financing for the second quarter of fiscal year 2016-2017 was primarily obtained from domestic sources, reflecting a mixture of commercial banks’ loans ($249.5 million), Government bonds ($240 million) and a net Treasury bill issuance ($70.7 million). “Quarterly debt repayments totalled $279.1 million, the bulk of which (97.5 per cent) went towards retiring Bahamian dollar debt.”
Asian stocks drift as investors await Fed meeting SEOUL, South Korea (AP) — Asian stock markets drifted in slow trading on Tuesday as investors awaited the outcome of the Federal Reserve’s meeting and a batch of economic and political events later this week. KEEPING SCORE: Japan’s Nikkei 225 fell 0.1 percent to 19,619.14 but South Korea’s Kospi rose 0.6 percent to 2,129.64. Hong Kong’s Hang Seng lost 0.1 percent to 23,818.77. The Shanghai Composite Index added 0.1 percent to 3,238.93. Australia’s S&P/ ASX 200 edged 0.1 percent lower to 5,754.60. Stocks in Taiwan were higher and in Southeast Asia, markets were mixed. U.S. INTEREST RATES: The Fed is scheduled to hold its rate-setting meeting from Tuesday to Wednesday. Most investors expect the Fed to raise rates for only the third time since they went to nearly zero during the financial crisis in 2008. With strong economic reports in recent weeks, expectations
that the Fed may stand pat this month have changed. ANALYST’S VIEWPOINT: “On the one hand, the market ponders a surprise hold, in which massive unwinding of positions could take place with the hike already priced in,” said Jingyi Pan, a market strategist at IG in Singapore. On the other hand, the Fed could raise interest rates from record lows at a pace faster than expected. BUSY WEEK: The Bank of England, Bank of Japan and others around the world are also holding meetings this week. Many economists expect the Bank of England to hold steady. The U.K. government meanwhile could formally begin the process of exiting the European Union. Margaret Yang, a market analyst at CMC Markets in Singapore, said the so-called Brexit process could begin as early as the last week of March. The Netherlands has its own election this week, where politicians have also railed against the European Union and immigrants.
PUBLIC NOTICE REAL ESTATE BOARD LICENSED BROKERS/SALESMAN/APPRAISERS/DEVELOPERS This Public is notified for general information that the following persons have renewed their licenses as of January1, 2017. These licenses are valid until December 31, 2017. The public is advised that the list of names below include registered, licensed members of The Bahamas Real Estate Association. The public is further advised that only licensed real estate salesman and brokers are legally permitted to conduct the business of real estate in The Bahamas. Please be sure to check that the agent or broker you are using is named on this list. First Helen Neil Michaud Beryl Antoine Ethan W. Greg Mark William (Bill) Samara Christopher Sarah Margo Carl Jennifer Alexander C. Dale Pauline Mackenson Sonya Christopher Silvina Paul D. Raymond Linda Kim V. Shelly Christopher M. Anthony F. Robert Paula Peter Brian Marilyn Angelika Dominic A. Roy E. Tracey Kevin L. Deborah Sebastian Nicholas C. Lorraine Rowan Charles J. Leroy Pauline O. Andrew James C. Gilbert Jane-Michele Patrick J. Anne John F. Erin Godfrey Francis Patricia Jeffrey B. Wendie F. Nikki Di Sheng Brian Katherine A. Link Bursell R. Joan Monica O. Ashley Geoffrey Geoffrey G. Robin B. Brittany Andrea G. Garth H. Jolika F. Hugh Elvis Eli Faye George Andrew B. El’Dora Jerry Sara Jason Carlyle Shamon Michelle Garneth Albert Lindsey Arlington Carla Mario A. Frank C. Paul H. Robert Andrew Heather Sasha Denise Charles E. Trevor L. Ridley Shirley Lisa M. Mark Harcourt Charles Clinton Steven Cheryl D. Steven L. John I. Shane Terrol Robin Christopher Anna Kenneth Simon Lazar Sonia Cara Diane Gavin John W.C. William McPh. Cheslie Donald Tara Christopher Raymond Craig Samuel Douglas Anthony Arthur Samira Gregory Margot John Charlotte Penny Dario Kevin J. C. Kenneth Audrey Kent Joseph R. Darvin Terez Dwayne George Nicholas Nicholas Dennis Donna Christopher E. Suzette Paul C. Angela Donna Katera Lamond John Linda Jonathan
Last Aaron-Dupuch Aberle Abraham Adams Adderley Adderley Ageeb Ageeb Albury Albury Albury Albury Albury Albury Alexiou Alexiou Allen Allen-Dean Altidor Alvino Anand Andrews Antonas Antonio Aranha Aranha Archer Armaly Armbrister Arthur Auberg Auberg Austin Ayearst-Hartley Bacchus Bain Barnes Barone Bastian Bastian Bastian Bates Beauregard Beede Bell Beneby Berlanda Bernard Besing Bethel Bethel Bethel Bethell Bethell Bethell Bethell Birch Birch Bishop Boeuf Bowe Bowers Bowers Bowleg Bradshaw Braithwaite Brown Brown Brown III Brown Jr. Brownrigg Brownrigg Brownrigg Buckner Buckner Buckner Bullard Bullard Burrows Burrows Burrows Butler Butler Callender Callender Campbell Campbell Campbell Campbell Campbell Cancino Capron Card-Stubbs Carey Carey Carey Carey Carey Carey Carey Carey III Cargill Carroll Carroll Carroll Carter Carter III Cartwright Cartwright Cartwright BRI., Cash Cash Cash Cates Cates Cathopoulis Chaplin Chappell Charlton Chipman Christie Christie Christie Christie Christie Churchill Claridge Claridge Claridge Clarke Cleare Cleare Colebrook Coleby Collie Constantakis Constantakis Constantakis Costain Cox Cross Culmer Culmer Culmer Curry Curry Curry Daley Damianos Damianos Darling Darville Darville Darville Darville Darville Davis Davis Davis Deal Dean Dean
Category Broker Broker Salesperson Salesperson Broker/Appraiser Salesperson Broker Salesperson Salesperson Broker Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Developer Salesperson Broker Developer Broker Salesman/Appraiser Salesperson Salesperson Salesperson Salesperson Broker/Appraiser Broker Salesperson Broker Salesperson Salesperson Salesperson Salesperson Salesperson Broker Broker/Appraiser Salesperson Salesperson Developer Salesperson Broker Broker Broker Salesperson Salesperson Salesman/Appraiser Developer Broker Salesman/Appraiser Salesperson Broker/Appraiser Salesperson Broker/Appraiser Salesperson Broker/Appraiser Salesperson Broker Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Salesperson Broker Salesperson Broker Broker/Appraiser Salesperson Broker Broker Broker Broker Broker Salesman/Appraiser Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Broker/Appraiser Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Broker/Appraiser Broker/Appraiser Broker Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Salesperson Salesperson Salesperson Salesperson Salesperson Salesperson Broker Broker Salesperson Salesperson Salesperson Salesperson Salesperson Broker Salesperson Salesperson Broker Broker Salesman Broker Broker/Appraiser Salesperson Salesperson Salesperson Salesperson Developer Salesperson Broker/Appraiser Salesperson Broker/Appraiser Salesperson Broker/Appraiser Broker/Appraiser Salesperson Salesperson Salesperson Salesperson Broker Broker/Appraiser Salesperson Salesperson Salesman/Appraiser Salesperson Salesperson Broker Broker Salesperson Broker/Appraiser Salesman Broker Salesperson Broker Salesperson Salesperson Salesperson Broker Salesperson Salesperson Broker
Postal Address EE-17823 AB-20106 N-1062 N-4575 CR 56766 Suite #720 SP-60673 SS-6193 SS-5931 AB-20404 CB-11911 General Delivery EL 27488 AB-20123 SS-6938 EL 27045 EL 27045 CB-13316 N-540 SP-64185 AP 59223-317 SP-63158 N-113 N-1132 CR 56766 Suite 720 CB-11853 SS 6193 SS-5762 SS-19085 General Delivery General Delivery N-8877 N-8877 N-1132 SS-5244 Generla Delivery CB- 11605 N-8189 EE-15240 CB-13443 CB-10119 SS-19086 N 7776 EL-27600 DC-30687 F-40962 N-7655 N-1130 CB-12762 Suite2207 N 4825 N-7320 AB-20521 EL-25025 N-7061 N-1130 EL 29955 N-4491 SS-19085 P.O.Box FC 23311 AB 20771 SS-6193 N-1132 N-7776 N-7776 SS-19337 N-1404 EL-25148 N-1110 N-1110 N-1110 N-1132 N-1132 SS-6299 CB13500 CB-13500 CB-13500 CR-56600 SS-5362 SP-64205 CB 13155 CR56766, Suite 720 N-7655 EL-27235 SP-63158 SP-63158 CB-12675 N-8164 CB-13316 General Delivery N-1649 N 1132 N--3611 CB-13304 CR56766 Suite720 N-4764 CB-11556 N-4949 N-4764 CB-11141 SP-63158 EL-27139 CB-13484 N-732 AB-20378 SS 5052 CR-56766 SS-6481 N 4949 N-7453 CR 55257 AB-22212 N-8245 SS-5482 General Delivery N-4277 N-531 CR-13647 SS-6193 GT-2078 N-8164 N-8164 N-8164 N-8164 N-8245 F 42748 AB-22705 AB-22705 N-664 N-8245 N-7655 N- 4062 N-3745 CB-13002 N-9956 General Delivery N-8164 SS 5699 CB-12762 F-40368 N-641 General Delivery General Delivery General Delivery EE-15019 General Delivery EE-15019 N-4491 N-732 N-732 N-1335 General Delivery CB-11932 SP 60986 F-43335 General Delivery EE-17823 N 4446 N-3832 N-1055 SP 60213 N-10119
Town/District Nassau Marsh Harbour Nassau Nassau Nassau Nassau Nassau Nassau Marsh Harbour Hope Town Man-O-War Cay Spanish Wells Marsh Harbour Nassau Harbour Island Nassau Nassau Nassau West Bay Street Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Fernandez Bay Governor’s Harbour Nassau Nassau Nassau Nassau Governor’s Harbour Nassau Nassau Nassau Gregory Town Nassau Nassau Nassau Spanish Wells Salt Pond Freeport Nassau Nassau Nassau Nassau Nassau Marsh Harbour Governor’s Harbour Nassau Nassau Palmetto Point Nassau Nassau Fresh Creek Marsh Harbour Nassau Nassau Nassau Nassau Nassau Nassau Governor’s Harbour Nassau Nassau Nassau Nassau Nassau Guana Cay Nassau Nassau Nassau Nassau Nassau Nassau Nassau Tarpum Bay Nassau Nassau Harbour Island Nassau Nassau Nassau Nassau Nassau Nicholl’s Town Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Harbour Island Nassau Nassau Treasure Cay Nassau Nassau Nassau Nassau Nassau Nassau Treasure Cay Hope Town Nassau Nassau Rock Sound Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau East Bay Street Freeport Green Turtle Cay Green Turtle Cay Nassau Nassau Nassau Nassau Nassau Nassau Nassau George Town, Nassau Nassau Nassau Freeport Lyford Cay Tarpum Bay Tarpum Bay Tarpum Bay Nassau Guana Cay Nassau Nassau Nassau Nassau Nassau Marsh Harbour Nassau Nassau Freeport Governor’s Harbour Nassau Nassau Nassau Nassau Nassau Nassau
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PAGE 6, Wednesday, March 15, 2017
THE TRIBUNE
PUBLIC NOTICE - REAL ESTATE BOARD LICENSED BROKERS/SALESMAN/APPRAISERS/DEVELOPERS
Sen. Elizabeth Warren, D-Mass., speaks with reporters as Democrats criticize the Republican health care plan, at the Capitol yesterday. The White House and Republican leaders in Congress are scrambling to shore up support for their health care bill after findings from the Congressional Budget Office estimated that 14 million people would lose insurance coverage in the first year alone under the GOP replacement for Obamacare. (AP Photo)
Defiant conservatives still fighting Trump’s health bill WASHINGTON (AP) — Undaunted by fellow Republicans’ defiance, GOP leaders and the White House redoubled their efforts Tuesday to muscle legislation overhauling America’s health care system through Congress following a sobering report about millions being shoved off insurance coverage. President Donald Trump, whose strong Election Day showing in GOP regions makes him the party’s ultimate Capitol Hill vote wrangler, discussed the legislation by phone with the House’s two top Republicans. He also dispatched Vice President Mike Pence and health secretary Tom Price to hear GOP senators’ concerns. With leaders hoping to move the measure through the House next week so the Senate can debate it, changes in the measure seemed all but certain. Trump’s spokesman acknowledged they were open to revisions to win support. “This has never been a take it or leave it,” said Press Secretary Sean Spicer. The GOP bill is the party’s response to seven years of promising to repeal President Barack Obama’s 2010 health care overhaul. It would undo that law’s individual mandate, which requires most people to have coverage, by ending the tax
Those findings further energized Democrats, who already were unanimously opposing the GOP repeal effort and showing no sign of relenting. “Of course you can have savings if you cut off millions of people from access to health care,” said House Minority Leader Nancy Pelosi of California. She said the measure’s shift of billions of dollars from lower- to higher-earning families actually would effectively transfer money from GOP to Democratic regions, and, seemingly taunting Republicans, she added, “Explain that to your constituents.” Pence and Price discussed the legislation over lunch with GOP senators at the Capitol. Participants said senators suggested targeting the bill’s new tax credits more at lower-earning people, improving benefits for seniors and protecting the expansion of Medicaid, the federal-state program that helps lower-income people afford care. Senate Majority Leader Mitch McConnell, R-Ky., all but acknowledged the widespread assumption that the measure will be reshaped, saying, “It will be open to amendment in the Senate.” Emerging from the senators’ lunch — which included two House committee chairmen as well as Pence and Price — Sen. Pat
‘...the Congressional Budget Office said the Republican legislation would reduce the ranks of the insured by 24 million in a decade, largely by cutting Medicaid recipients and people buying individual policies.’ penalty on those who don’t. It would also provide agebased tax credits instead of the subsidies geared to income in Obama’s statute, end that law’s expansion of Medicaid and curb its future spending, and let insurers boost rates for seniors. On Monday, the Congressional Budget Office said the Republican legislation would reduce the ranks of the insured by 24 million in a decade, largely by cutting Medicaid recipients and people buying individual policies. That would be more than the 20 million who’ve gained coverage under Obama’s overhaul — and attach a big number to a problem haunting GOP governors and members of Congress whose states have benefited from “Obamacare.” “I plan to vote NO” on the GOP bill, Rep. Ileana Ros-Lehtinen, R-Fla., tweeted Tuesday. “As written the plan leaves too many from my #SoFla district uninsured.” The budget office report also said the measure would reduce federal deficits by $337 billion over the next decade, largely by cutting Medicaid, the health insurance program for the poor, and eliminating Obama’s subsidies for low- and middle-income people. The report said that the bill’s changes would result in federal subsidies that would fall to half their current size in a decade and that older, lower-earning people would be hit especially hard.
Roberts, R-Kan., said, “All four of them are open to suggestions and change.” Even so, criticism cascaded from both ends of the GOP political continuum, suggesting leaders face a festering problem. Freshman Rep. John Faso, R-N.Y., from a closely divided district in the Catskill Mountains, said he was concerned the bill would hurt hospitals and was undecided about supporting it. He’s a member of the House Budget Committee, which is expected to sign off on the bill Thursday in what Rep. Tom Cole, R-Okla., said could be “a bumpier ride” than last week’s approval by two other panels. Citing the bill’s projected increase in uninsured people, Rep. Leonard Lance, R-N.J., from another close district, said he opposed the bill. Rep. Mark Amodei, R-Nev., said he was leaning no because of people losing coverage, saying of CBO’s projections, “If the numbers are in the ballpark, it sounds like we’ve gone back to where we started after seven years.” Conservatives continued complaining the Republican measure doesn’t fully repeal Obama’s law, as they and Trump promised in last fall’s election campaigns. Their demands include voiding the law’s requirement that policies cover 10 specified benefits like mental health services, which they say drives up consumers’ costs.
First Marcella Nicholas Judy E. Jacob S. Sarah Guerda Samia Steve Marcia William Adam Peter M. Karen Valderine Patricia E. Cheryl Linda Garnett L. Cathryn Ritchie Roshanne Jennifer E. Christopher Perry Rothia Glenn Tenecia Byron Ruth Tiffany Joerg Peter Godfrey Alexandrea Cristobal Gregory P. W. Carver Glena Nakeisha William Brooke Carolee Stuart Raquel Lakeisha Bishop Walter S. Aubrey P. Brian K. Willis L. Godfrey Cheryl M. Garren A. Charles C Gaydene Gustaf Christopher Lauren Dudley Dudley Lydia Margo P. Philip Taryn Ann Marie Diane Wilfred Boguslawa Priscilla B. Judith Maxine Mark Marcus Nakia Sally D. Sharmaine Templeton Vanessa Carl Christian L. Desiray Kirk Stephen Jack Steven Harold Wendy A. Josefina Trevor W. Stephen Shayne Ingrid Lonnie Troy Jennie Chevez David Kiara Advara Jacquelyn L. D Patricia Dale Andrew Phillip Jennifer Anne Kim Laura Sherry Kally Rudolph Craig Linda Olivea Danielle R. Henry Aaron Franklyn Jeannette Monica Ryan Joicelyn Shannon Gina L. Marissa Lacharah David A. Mark A. Janae C Vicky M. Spencer Donna Caryl Brett Andre W. Jasmine Roger Allison S. Prince Colin Christopher E. Chris J Michael Edwin Heather Bertram E. Hartman Patricia Paul K.C. Daniel Christopher Elmer I G Daniel Robyn David A. Andrew A. Neil A. Daphne Joseph F. M. L Rashad Mervyn James Spencer Kristina Tanya Garry R. Donald P. Michelle Carmen G. Jorge Eugene-Gino Jason Sean Mary Paige Dave Alex Giselle Antoinette Tamina C. D. Neil Dorothy Martina Kurt Junior Anthony Irene Nicholas Anthony Glenn Silbert Desaree Erica Edward A. James S. David G. David F. Bianca
Last DeGregory Delaney Deveaux Disston Disston Dolce-Culmer Donaldson Donovan Duncan Duncombe Duncombe Dupuch Duvalier Edgecombe Edgecombe Edgecombe Eldon Ellis Evans Eyma Eyma Farrington Farrington Ferguson Ferguson Ferguson Ferguson Ferguson Forbes Forbes Friese Galanos Gardiner Gatis Davis Gomez Graham Grant Gray Gray-Wallace Green Greene Halbert Halbert Hall Hamilton Hanchell, JP Hanna Hanna Harding Harding Harding-de Goioechea Hepburn Hepburn Hepburn-McClain Hernqvist Herrod Higgs Higgs Higgs Hill Hillhouse Hillier Hinsey Holowesko Hall Holowesko-Dunkley Horton Horton Hudson Hurlock Hussey Hussey Hutcheson Hutcheson Hutcheson Hutcheson Hutchinson Ifill Illing Ingraham Ingraham Isaacs Johnson Johnson Johnson Johnson Johnson Johnson Johnson Johnson Johnson Johnson Johnson-Ramirez Johnstone Jones Joos Kemp Kemp Kemp Kemp, II Kettel Kikivarakis Kimble Klonaris Klonaris Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles Knowles-Andrews Laidley Laing-Jones Lashley Lashley Lee Lee Legros Levarity Lewis Lightbourn Lightbourn Lightbourn Lightbourn Lightbourn Lightbourn-Peterson Lightbourne Longley II Love Lowe Lowe Lowe Lowe Lowe II Lowe-Davis Lunn Mactaggart Mactaggart, Jr. Maioulis Major Major Major Jr Malcolm Mallory Malone Manos Markham Martinborough Martinborough Massoni Mauricio Maycock McCarroll McCarroll McCartney McCartney McCorquodale McIntosh McKenzie McKinney McKinney McNamara McSweeney Melnechuk Mernard Miaoulis Miaoulis Miaoulis Miaoulis IV Miller Mills Mingo Minnis Moir Moncur MBA, RFC, ChMC Morley Morris
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Postal Address EL-27235 N-732 SS-1922248 N-7776 N-7776 SP-60213 N-732 CR-55091 F-41991 EE-17823 EE-17823 CR-56152 SP-60986 SP60986 SP-61978 SS-6668 CB-11517 N-1458 AB 20865 N-1110 AB-22758 SS-19282 CB-12675 SP-60592 CB-13604 E E- 17823 EE-16021 N-7776 LI-30105 CR-54906 F. H. 14673 N 4949 N 3709 CB-13443 F-41703 N-4949 #4 Southern Shores N-1132 N-1132 N-1062 N-1062 N-1444 N-3162 General Delivery DC30647 DC-30716 DC-30716 GT-2368 N-10119 CB-13647 CB-13647 CB-13647 General Delivery EL-27569 EL-27569 AB-2217 EE-16358 N-7776 SS-5977 SS-5977 N-3822 N-3822 SP-63985 EX-29008 N-732 N-732 CB 13421 CB 13421 CB-13421 SP-60074 CB -11932 CB-13421 CB-13647 EE-16295 N-1062 N-1458 SS-6310 SS-19270 N-7776 F-42480 SS-5872 N-7776 N-9473 EL 27457 N-1132 EE-16439 N-732 P.O. Box N-4875 F 43790 CB-13272 EL-26016 N-1062 EX-29031 SP-60986 EX-29111 AP-59217, Slot 2732 CB-13443 F-44704 CB-13443 General Delivery SP- 60216 CB-12396 AB 20106 General Delivery N-1132 N 8164 SS-6690 N-8164 N-3709 SS-6041 General Delivery SS-6041 P.O. Box CB-11911 N-1062 N-8164 EL-27045 F-43790 CB-14000 CB-14000 CB-11196 CB11196 N-7776 F-40368 N-1132 N-4949 CR-56766 General Delivery N-4949 N-4949 N-4949 F-40693 N-8339 General Delivery N-9251 F-42748 SS-6041 N-7795 SS-19337 SS-6041 SS-19223 EL-27235 FH-14673 SS-6193 N-1062 SS-6193 F-40368 Gen. Delivery EX-29476 N-7805 N-1132 N-1132 SS-6193 N-9128 SP60213 N-3371 N-3371 N-1144 EE-17823 AB 22744 SS-19086 SS-6193 N 7776 SS-6193 CB-11932 General Delivery SS-6269 SS-6269 EL-27235 N-1130 EE-16435 AB-22705 SP-61762 General Delivery CB-13836 F-43250 SS-19085 CB- 11560
Town/District Harbour Island Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Freeport/Lucaya Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Marsh Harbour Marsh Harbour Nassau Green Turtle Cay Nassau Nassau Nassau Nassau East Bay Street Governor’s Harbour Nassau Stella Maris Nassau Nassau Nassau Nassau Nassau Freeport/Lucaya Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau Governor’s Harbour Salt Pond Salt Pond Salt Pond Nassau Nassau Nassau Nassau Nassau Great Harbour Cay Abaco Spanish Wells Abaco Nassau Nassau Nassau Nassau Lyford Cay Nassau Nassau Nassau Jimmy Hill Nassau Nassau Nassau Nassau Nassau Nassau Nassau Nassau West Bay Street Nassau Nassau Nassau Nassau Nassau Lyford Cay Freeport Nassau Nassau Nassau Spanish Wells Nassau Nassau Nassau Guana Cay Freeport Nassau Rock Sound Nassau Georgetown Nassau Georgetown Nassau Nassau Freeport/Lucaya Nassau Marsh Harbour Nassau Nassau Tarpum Bay Hope Town Mangrove Bush East Bay Street Nassau Nassau Nassau East Bay Street Nassau Nassau Hope Town Nassau Nassau Harbour Island Freeport/Lucaya Nassau Nassau Nassau Nassau Nassau Freeport Nassau Nassau Nassau Marsh Harbour 18 Shirley Street Marsh Harbour Nassau Freeport/Lucaya Nassau Hope Town Nassau Freeport/Lucaya Nassau Lyford Cay Nassau Nassau Nassau Nassau Nassau Harbour Island Nassau Nassau Nassau Freeport Hope Town George Town, Nassau Nassau Nassau 30 Queen Street Nassau Nassau Nassau Nassau Nassau Nassau Nassau Marsh Harbour Nassau Nassau Nassau Nassau Nassau Nassau Hope Town Nassau Nassau Harbour Island Nassau Nassau Green Turtle Cay Nassau Governor’s Harbour Nassau Nassau Nassau Nassau
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THE TRIBUNE
Wednesday, March 15, 2017, PAGE 7 PUBLIC NOTICE - REAL ESTATE BOARD LICENSED BROKERS/SALESMAN/APPRAISERS/DEVELOPERS
First Last Category Jonathan P. Morris Salesperson Celeste Morrison Salesperson Emmanuel Mosko Broker Nicolas E.P. Mosko Broker Maria M. Mosko Salesperson Michael N. Mosko Broker James George Mosko Broker Deanna Mosko-Battello Salesperson Marcus W. Moss Salesperson Gevon Moss Salesperson Birgirtha Moxey Salesperson Debra Moxey-Rolle Salesperson Mark Moyle Salesperson Lana Munnings-Basalyga, BRI, CIPS Broker Sarah L. Munro Salesperson Cristina Murciano Developer Anthony Myers Developer Dominique Neely Salesperson Osano Neely Salesperson Theo Neilly Salesperson Cindy Newell Salesperson Ed Newell Broker John Marc Nutt Salesperson Eugenie Marie Nuttall Salesperson Andrew G. S. O’Brien II Developer Coretta Owen Broker Sara Parker Broker Victoria Parmentier Selby-Cane Salesperson Helena Parotti-Burrows Salesperson Jane Patterson Salesperson Victor Patterson Broker KerryAnn Pearce Salesperson Jackswell Charles Percentie II Salesperson Miguel Perez Salesperson Chiara Petrucci Salesman/Appraiser Jessica Pinder Salesperson John Pinder Salesperson Percival R. Pinder Salesperson Dana Pinder Salesperson Rachel K. Pinder Broker/Appraiser Leslie Aurelius Pinder Salesperson Craig Pinder Broker Denise Pinder Salesperson Candida Pinder- Carey Salesperson Sheldon Pitt Salesperson James Pleydell-Bouverie Salesperson Christopher Plummer Broker Elizabeth Plummer Salesperson Sophia Porras Salesperson Vincent Pratt Salesperson Vanessa Pritchard-Ansell Salesperson Lana Rademaker Salesperson Kyla Ralston Broker Donna E. Rees Broker Melanie Rees Broker James Rees Broker Martina Reichardt-Strachan Salesperson Aubynette Rigby-Clarke Salesperson Justin Ritchie Salesperson Melissa T. Ritchie-Wilkinson Salesperson Christopher Roberts Broker Molly Roberts Salesperson W. Larry Roberts Broker Mark M. Roberts Broker Tyrone J. Roberts Broker Richard Montague Roberts Salesperson Joseph John Roberts-Percentie Salesperson Marcellus S Roberts Broker Krystle Rodgers Salesperson Tim Rodland Broker Anton Rodrigues Salesman/Appraiser Alvan K. Rolle Broker/Appraiser Katherine Ann Rose Salesperson Bruce Rowan Salesperson Wendy Rowe Broker June Russell Broker Nadia Russell Salesperson Katherine Russell Salesperson Patrick B. Rutherford Broker/Appraiser Sarah Sams Salesperson Mailin Sands Salesperson Thomas A. Jr Sands Broker/Appraiser Darrin Sands Broker William Christopher Sands Salesperson Janice Sands Salesperson Maria Santillo-Silvester Broker Esther Sargent Broker Sara Saunders Salesperson Chad W. Sawyer Broker Richard W. Sawyer Salesperson Stan Sawyer Salesperson Dwight Sawyer Salesperson Nikolai Sawyer Salesperson Betty Schmid Broker Katina Schopper Salesperson Laurie Schreiner Salesperson Bernadette Scott Salesperson Garthia Seyfert Salesperson Wendell E. Seymour Broker Andrew J. Seymour Jr. Salesperson Cara Seymour-Collie Salesperson Nikhil Shah Salesman/Appraiser Owen P. Shepard Salesperson Natasha Antoinette Shephard Broker Caron Shepherd Broker Ina Simmons Salesperson Lester Smith Broker Anne I. Smith Broker Timothy Smith Salesperson Neville Smith Broker Tiffany Smith Salesperson Maureen Smith Salesperson Jill Smith Salesperson Philip Smith Salesperson Laura Smith Salesperson Roy Solomon Salesperson Martin Solomon Developer Shawne K Springer Salesperson Michelle Stevenson Salesperson Patrick Strachan Broker/Appraiser Edsel Strachan Salesperson Osbourne Stuart Broker/Appraiser Eulanda Stuart Salesperson Diane Sturm Broker Kerry Sullivan Broker Stephen Sweeting Broker Carla A. Sweeting Broker Ruby Lee Sweeting Salesperson Matt Dorien Sweeting Salesperson Ricky Roger Sweeting Salesperson Stafford Rev. Symonette Broker Robin Symonette Salesperson Brent T. Symonette Broker Janet Taylor Rich Broker Claire Thackray Salesperson Elaine Thompson Broker William ‘Bill’ Thompson Broker Christopher Thompson Broker Robert Thompson Salesperson Elbert Thompson Broker/Appraiser Paul D. Thompson Salesperson Steven Thompson Salesperson Indira Thompson Salesperson Krystal Treco Salesperson Jennifer Treco Salesperson Linda Treco Salesperson Lorraine E. Turnquest Broker Collingwood Turnquest Broker Michael Turnquest Salesperson Ingrid Tynes Stuart Salesperson Danielle Van Wynen Salesperson Dianna M. Vargas-Phillpot Salesperson Natasha Vythoulkas Salesperson Christine Wallace-Whitfield Broker Dwayne Wallas Salesperson Ana Elisa Wassitsch Salesperson Rhonda L.Roberts Waton Salesperson Daniel Waton Salesperson Janet Watts Broker Katherine F. Weech Salesman/Appraiser Wayne M. Wells Broker Anthony Wells Broker/Appraiser Valerie A. Wells Broker Maria G. Wells Salesperson Kelli Wells Salesperson Rosalie Wells -Fawkes Salesperson Spencer D. White Broker/Appraiser Gregg White Broker Peter John Whitehead Salesperson Harold WhiteIII Developer Roosevelt K. Whyms Broker Misty Dawn Whyms Salesperson Roosevelt K. Whyms Developer Hazel Beatrice Wicky Broker Desiree Wilchcombe-Aranha Salesperson P. Neil Williams Salesman/Appraiser Nicola Francisca Williams Salesperson Vena B. Wolfe Salesperson William U. Wong Broker/Appraiser Jason Wong Salesman/Appraiser Ruth Melverna Wong, J.P. Broker Wellington Woods Broker/Appraiser Maxwell Woodside Broker Ian Young Salesperson Mary Zervos Salesperson Registrar: Bahamas Real Estate Association
Postal Address Town/District EL-25009 Governor’s Harbour SS-6481 Nassau N-1130 Nassau N-1130 Nassau F-40368 Freeport/Lucaya F-40368 Freeport/Lucaya N-641 Nassau F-40368 Freeport EE-17578 58 Shirley Nassau EE 17944 Nassau N 1947 Nassau EX-29008 Jimmy Hill N-8164 Nassau N-4484 Nassau SS-6193 Nassau C/O N-4875 Nassau CB 11296 Nassau FH-14397 Great Harbour Cay SS-6650 Nassau N 4949 The Current AB-20509 Marsh Harbour AB-20509 Marsh Harbour SS-6193 Nassau N-7776 Nassau N-492 Nassau N-12285 Nassau CB-10964 Nassau EL-27045 Harbour Island F-40089 Freeport/Lucaya General Delivery Hope Town AB-20123 Marsh Harbour CB-13911 Nassau SS-6193 Nassau N-1132 Nassau F-43523 Freeport AB-20404 Marsh Harbour General Delivery Hope Town AB-20473 Marsh Harbour SS-6193 Nassau N-3709 Nassau AB-20179 Nassau SS-6894 Nassau EL-27424 Spanish Wells N-4949 Spanish Wells CR-56766 Slot720 Nassau AB-22950 Man-O-War Cay AB-22705 Green Turtle Cay AB-22705 Green Turtle Cay CB-13443 Nassau N-368 Nassau N-732 Nassau N-732 Nassau CB 13604 Nassau AB-20149 Marsh Harbour SS-19085 Nassau AB-20149 Marsh Harbour N 8164 Nassau #3 JIMMY HILL, QUEENS HIGHWAY C B 13647 Nassau EE-16336 Nassau AB-20856 Marsh Harbour AB-20856 Marsh Harbour N-1132 Nassau SS-6366 Nassau SS-6070 Nassau N-732 Nassau 61 Harbour Island Harbour Island A B 22183 Treasure Cay SS-6193 Nassau CB-11354 Nassau SS-6041 Nassau N-7401 Nassau DC 30699 Hamilton’s CB 13443 Nassau EX-29178 George Town, AB20967 Marsh Harbour Tarpum Bay AB-20198 Marsh Harbour N-4182 Nassau AB-20900 Marsh Harbour AB-20900 Marsh Harbour EL-26030 Governor’s Harbour General Delivery Spanish Wells N-1132 Nassau SP-64205 Nassau AB-20900 Marsh Harbour N-10133 Nassau SP-64124 Nassau AB-20404 Marsh Harbour N-732 Nassau AB-22127 Treasure Cay N-4098 Nassau N-641 Nassau CB-11706 Nassau N 7776 Nassau General Delivery Marsh Harbour CB-12291 Nassau Genreal Delivery Nassau SS-6938 Nassau CR 56766 Suite 720 Nassau N 282 Nassau AB-20509 Marsh Harbour N-4949 Nassau EL-27235 Harbour Island SS-5640 Nassau F-43152 Freeport N-1110 Nassau N-7776 Nassau CB-13304 Nassau EE-16224 Nassau F-43152 Freeport AB20455 Marsh Harbour LI30 .105 Stella Maris AP-59223 Slot 450 Nassau N-1130 N-1130 Nassau,Bah CB-12762 Nassau N-4818 Nassau N-1404 Nassau N-7776 Nassau FH-14636 Nassau N-4170 Nassau N-10119 Nassau N-9715 Nassau SS-6299 Blair Estates General Delivery Hope Town N-1110 Nassau SS-19085 Nassau CB 13534 Nassau CB 13534 Nassau EE- 17823 Hope Town AB-22221 Marsh Harbour N-3709 Nassau N-3709 Nassau General Delivery Great Harbour Cay CB-13647 Nassau AB-20404 Marsh Harbour AB-20404 Marsh Harbour General Delivery Hope Town N-1132 Nassau N-8164 Nassau AB 22705 Hope Town General Delivery Hope Town N-1130 Nassau SS-6650 Nassau Nassau SP-64205 West Bay Street N-8408 Nassau EX-29101 Georgetown N-4949 Nassau GT 2494 Alice Town N-3371 Nassau SS-5151 Nassau N-4949 Nassau N-3709 East Bay Street AB-20777 Marsh Harbour N-1132 Nassau General Delivery Governor’s Harbour AB20900 Marsh Harbour EX-29122 George Town, General Delivery Alice Town CB 12644 Nassau N 3709 Nassau EE-16021 Nassau Nassau N-8860 Nassau CB-11120 Nassau N-4949 Nassau SS-6222 Nassau EX-29453 Georgetown N-4820 Nassau EE-17617 Nassau EE-17617 Nassau EE-17617 Nassau N-3709 Nassau CB 11992 Nassau N-3371 Nassau N-1062 Nassau F 43440 Freeport CB-11932 Nassau N-1132 Nassau N-535 Nassau CB-11777 Nassau GT-2016 Nassau EE 16021 Nassau N-1132 Nassau
Date: January 31st, 2017
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Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, before the Senate Banking Committee. The Fed seems all but sure to raise rates during the week of Monday, March 13, 2017, and to signal that more hikes are likely coming. Fed watchers appear buoyed by signs of a stronger economy than worried about whether slightly higher rates might slow growth. (AP Photo)
Why so few are worried about likely Fed rate hike this week WASHINGTON (AP) — For years after the Great Recession ended, investors fretted — sometimes panicked — over the prospect that the Federal Reserve might begin to raise interest rates from record lows. Now? The Fed seems all but sure to raise rates Wednesday for the third time in 15 months and to signal more hikes probably coming. And the response from investors has been something akin to a yawn. Wall Street appears too busy extending the stock market rally that began with President Donald Trump’s election in November, cheered by the prospect of tax cuts, an easing of regulations and higher spending for infrastructure to worry about a rate hike. Fed watchers, it seems, are more buoyed by expectations for a vigorous economy than worried about whether slightly higher rates might slow growth. When Chair Janet Yellen and several other Fed officials separately suggested earlier this month that the economy was sturdy enough to withstand a modest raising of loan rates, investors quickly raised their estimate of the probability of a rate hike at the Fed’s meeting this week from around 20 percent to 80 percent. After Friday’s robust February jobs report — 235,000 added jobs, solid pay gains and a dip in the unemployment rate to 4.7 percent — the likelihood has grown to 95 percent, according to the CME Group, which tracks investor expectations of Fed actions. Yet no one seems very concerned. “We’re just at a different place now than in 2013 when there was a lot of angst and uncertainty about the economy’s prospects,” said Mark Zandi, chief economist at Moody’s Analytics. “Now, the fundamentals of the economy are much better. We are close to full employment and investors feel more comfortable about where we are.” In light of Friday’s jobs report, optimism about Trump’s economic program and other signs that growth may pick up, some economists said they were raising their forecast for the number of rate increases this year from three to perhaps four. “I think a March rate hike is a fait accompli,” said Sung Won Sohn, an economics professor at California State University, Channel Islands, who expects four rate increases in 2017. “The more important question is: How many more hikes they will give us for the balance of the year?” If the Fed is no longer unsettling investors with the hint of a forthcoming rate increase, it marks quite a change from the anxiety that prevailed after 2008, when the central bank cut its key rate to a record low and kept it there for seven years. During those years, any slight shift in sentiment about when the Fed might begin raising rates — a step
that would lead eventually to higher loan rates for consumers and businesses — was enough to move global markets. In 2013, then-Chairman Ben Bernanke sent markets into a panic merely by mentioning that the Fed was contemplating slowing the pace of its bond purchases, which it was using then to keep long-term borrowing rates low. But now, the economy is widely considered sturdy enough to handle modestly higher loan rates. The unemployment rate, at 4.7 percent, is below the 4.8 percent level the Fed has deemed an indication of full employment. And inflation, which had stayed undesirably low for years, is edging near the 2 percent annual rate that the Fed views as optimal. And while the broadest gauge of the economy’s health — the gross domestic product — remains well below levels associated with a healthy economy, many analysts say they’re optimistic that Trump’s proposed tax cuts, infrastructure spending increases and deregulation may accelerate growth. Those proposals have lifted the confidence of business executives and offset concerns that investors might otherwise have had about the effects of Fed rate increases. Yet for the same reason, some caution that if Trump’s program fails to survive Congress intact, concerns will arise that the president’s plans won’t deliver much economic punch. Investors may start to fret about how steadily higher Fed rates will raise the cost of borrowing and slow spending by consumers and businesses. The Fed typically raises rates to prevent an economy from overheating and inflation from rising too high. But throughout the Fed’s history, its efforts to control inflation have sometimes gone too far — slowing borrowing and spending so much as to trigger a recession. Already, the current expansion, which officially began in June 2009, is the third-longest in the postWorld War II period. The Fed’s benchmark rate, after modest increases in December 2015 and December 2016, now stands at a range of 0.5 percent to 0.75 percent, still quite low by historical standards. But if the Fed ends up raising rates three or four times this year and follows up with three additional hikes in 2018, its benchmark rate would be left at a level that might start to dampen economic activity. “The Fed is really just normalizing rates now and not tightening credit,” said David Jones, chief economist at DMJ Advisors. “But if the Fed hikes three or four times this year, by next year, the rate increases will start to bite and investors might start to worry about whether the Fed’s credit tightening could get in the way of Trump’s stimulus program.”
PAGE 8, Wednesday, March 15, 2017
THE TRIBUNE
AP FACT CHECK: Both sides loose with facts in health debate WASHINGTON (AP) — The Congressional Budget Office report on a Republican health care bill set off an intense reaction in Washington, and some on both sides of the debate are playing loose with the facts. Republicans are overlooking President Donald Trump’s promise to deliver “insurance for everybody,” which the CBO makes clear will not happen if the legislation becomes law. Democrats are assailing Republicans for “attacking the messenger,” seeming to forget all the times they assailed the budget office themselves. The Congressional Budget Office is respected for nonpartisan rigor in its estimates of the costs and impacts of legislation. But no projection is infallible, particularly when it comes to large, complex programs. For example, the agency in 2010 overstated the number of people expected to buy insurance under President Barack Obama’s health care law, misjudging how many would join because of the threat of tax penalties. Yet, CBO’s neutrality has been valued by both parties — though not always at the same time. It depends whose ox is being gored. A look at statements in the debate and how they compare with the CBO’s estimates and the underlying facts: TRUMP: “We’re going to have insurance for everybody. There was a philosophy in some circles that if you can’t pay for it, you don’t get it. That’s not going to happen with us.” — To The Washington Post, Jan. 15. CBO: It estimates the bill would leave 14 million fewer people insured in the first year, 24 million fewer by 2026. In the first year, the biggest reason more people are uninsured would be repeal of penalties Barack Obama’s law imposes on those deemed able to afford insurance but who don’t buy it. Still others would decide to forgo coverage because of higher premiums or do without Medicaid. In following years the main reason for a drop in the number of insured would
no charge. And more than half of the people enrolled in the health law’s insurance markets get an extra subsidy when they go to seek care. It can reduce a deductible from several thousand dollars to a few hundred. The GOP bill would repeal those subsidies. Other evidence points to tangible benefits from Obama’s coverage expansion. For example, government researchers have found fewer Americans struggling to pay medical bills. A 2015 report found that problems with medical bills had declined for the fourth year in a row. Most of the improvement was among low-income people and those with government coverage, and it coincided with the ACA’s big coverage expansion.
be that the Republican bill scales back Medicaid for low-income Americans. Altogether, CBO estimates 52 million people would be uninsured by 2026, a vast distance from “insurance for everybody.” SEAN SPICER, White House press secretary, Tuesday: “Having a card and having coverage that when you walk into a doctor’s office has a deductible of $15,000, $20,000 a year isn’t coverage. That’s a car. That doesn’t get you the care you need.” THE FACTS: He’s wrong about deductibles under Obama’s law. Out-of-pocket expenses for consumers are limited. Deductibles, copayments, and coinsurance together can’t exceed $7,150 this year for an individual plan sold through HealthCare.gov or similar state markets. For a family plan it’s $14,300. After that, the insurance plan pays the full cost of covered benefits. In addition, more than half of customers in these plans get subsidies to help with their out-of-pocket costs. SEN. CHUCK SCHUMER, Senate Democratic leader: “CBO is virtually unassailable. Everyone, Democrats and Republicans, whether it be George Bush, Barack Obama or anyone else has gone along with CBO. ...CBO speaks the truth. They’ve been speaking the truth for decades and to try to attack CBO is simply attacking the messenger.” — Comments to reporters Monday. REP. NANCY PELOSI, House Democratic leader, on Republican reaction to the CBO: “Some of them are trying to pin a rose on this report and make it sound like it’s a good thing and the others of them are trying to discredit the CBO, but it’s completely wrong, completely wrong. ... Numbers are quite elegant things, you know. They speak very clearly.” — Comments to reporters Monday. THE FACTS: Democrats have not hesitated to attack this messenger when its conclusions have not suited them.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, ASHLEY MONIQUE WOOD-PIERRE and DANNY DENNIS PIERRE of Pine Dale, P.O. Box ER-6067, Eight Mile Rock, Bahamas intend to change our child’s name from DANNAE DANIEL PIERRE to DANNAE DANIEL GAYLE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
House Democratic Leader Nancy Pelosi of California, and Senate Democratic Leader Chuck Schumer of New York speak to reporters about the Congressional Budget Office projection that 14 million people would lose health coverage under the House Republican bill dismantling former President Barack Obama’s health care law, on Capitol Hill on Monday.
“The Congressional Budget Office never gives us any credit,” President Obama said in 2009 when the CBO pointed to the expense of Democratic health overhaul proposals. Complained Pelosi at the time: “The CBO will always give you the worst-case scenario.” Again in 2014, Pelosi did not consider CBO’s numbers “elegant,” or correct, when they forecast job losses from a Democratic effort to raise the minimum wage. She accused the CBO of making arguments that “contradict the consensus among hundreds of America’s top economists” and said it “ignored new perspectives in the wide array of analysis on the minimum wage.” TRUMP: People covered under the law “can expect to have great health care. It will be in a much simplified form. Much less expensive
From left, White House press secretary Sean Spicer, Health and Human Services Secretary Tom Price, and Budget Director Mick Mulvaney, arrive to speak outside the West Wing of the White House after Congress’ nonpartisan budget analysts reported that 14 million people would lose coverage next year under the House bill dismantling former President Barack Obama’s health care law. (AP Photos)
and much better... lower numbers, much lower deductibles.” CBO: It says cost-sharing payments in the individual market, including deductibles, “would tend to be higher than those anticipated under current law.” Cost-sharing subsidies would be repealed in 2020, “significantly increasing outof-pocket costs for nongroup (private) insurance for many lower-income enrollees.” TRUMP, at a Cabinet meeting Monday: “Obamacare, all of a sudden, the last couple of weeks, is getting a false rep that maybe it’s OK. It’s not OK, it’s a disaster and people understand that it’s failed and it’s imploding. And if we let it go for another year, it’ll totally implode.” CBO: Not in the view of the budget experts. They described the market for individual policies under
Obama’s health care law as “stable.” They said it is likely to remain stable under the proposed GOP replacement legislation, too. MICK MULVANEY, Trump’s budget director: “If you have coverage that doesn’t allow you to go to the doctor, what good is it in the first place? ...Democrats took all of this credit for giving people coverage, but ignored the fact that they had created this large group of people that still could not go to the doctor.” — Tuesday on MSNBC’s “Morning Joe.” THE FACTS: Republicans gloss over reality when they make this argument. While deductibles are high for the Affordable Care Act’s private insurance plans (averaging $3,000 last year for a standard silver plan), the law requires preventive care to be covered at
TOM PRICE, health and human services secretary: “I firmly believe that nobody will be worse off financially in the process that we’re going through.” — NBC’s “Meet the Press,” Sunday. CBO: There are losers as well as winners, the analysts found. Generally, older people are bound to face higher costs because the legislation would let insurance companies charge them up to five times more for premiums than they charge young people. They can only be charged three times more now. The bottom line, the analysts say, would be “substantially reducing premiums for young adults and substantially raising premiums for older people.” MULVANEY: “Actually I don’t think the costs will go up at all.” — ABC’s “This Week,” Sunday. CBO: It estimates that some costs indeed will go up, at least for a few years. The analysts say average premiums in the private insurance market would rise in 2018 and 2019 by 15 percent to 20 percent, compared with current law, then start to come down. By 2026, average premiums could be 10 percent lower, compared with the existing law. One reason: insurers could eliminate a current requirement to offer plans that cover a set percentage of the cost of certain benefits.
THE TRIBUNE
Wednesday, March 15, 2017, PAGE 9
Company asks judge to reject tribal plea on oil pipeline BISMARCK, N.D. (AP) — The company building the Dakota Access pipeline has asked a federal judge to reject the latest attempt by two American Indian tribes to halt the project, with oil likely to begin flowing early next week. Texas-based Energy Transfer Partners argues in court documents filed Monday that it has endured enough delays and that the Standing Rock and Cheyenne River Sioux tribes are employing “a last-gasp litigation tactic.” The tribes have appealed a decision by U.S. District Judge James Boasberg to not stop construction of the pipeline’s final segment under Lake Oahe, a Missouri River reservoir in North Dakota from which they get their water. They’ve asked Boasberg to head off the imminent flow of oil through the four-state pipeline until the appeal is resolved. The tribes maintain that an oil pipeline under the
lake they consider sacred violates their right to practice their religion. In its response, ETP argues that the tribes’ religion-based argument is flawed and that they introduced it too late in the legal process. “The tribe fails to explain how the added ‘burden’ of a pipeline that crosses this part of the Missouri River could itself produce irreparable harm to the purity of Lake Oahe’s waters when so many other oil pipelines, gas pipelines, refineries, power lines, railroad tracks and other man-made intrusions have burdened the same waters for so long,” company attorney William Scherman wrote. The tribes initially sued over the project last summer, arguing that it threatens cultural sites and their water supply. Those claims are not yet resolved. The tribes added the religion argument last month. In his decision last week, Boasberg said the tribes
didn’t raise the religion argument in a timely fashion and he questioned its merits. The tribes are appealing his reasoning to the U.S. Court of Appeals for the District of Columbia Circuit and say that if oil flows before the appeal is resolved, they will lose any chance to defend their free exercise of religion. In court documents, ETP said the hole under the lake is nearly finished, and crews anticipate pulling pipe through this week and doing final testing. “As a result, Dakota Access projects that oil may be introduced in this part of the line between Monday, March 20, 2017 and Wednesday, March 22, 2017, depending on the success of the testing,” Scherman wrote. The pipeline will carry North Dakota oil through South Dakota and Iowa to a shipping point in Illinois, 1,200 miles away.
aerial file photo shows the site where the final phase of the Dakota Access Pipeline will take place with boring equipment routing the pipeline underground and across Lake Oahe to connect with the existing pipeline in Emmons County near Cannon Ball, N.D. Sioux tribes suing to stop the Dakota Access pipeline want a federal judge to head off the imminent flow of oil. Judge James Boasberg on March 7, 2017, rejected the request of the Standing Rock and Cheyenne River Sioux to stop construction of the final segment of the pipeline that would move oil from North Dakota to Illinois. (AP Photo)
Democrats say Trump’s pick for trade post needs waiver WASHINGTON (AP) — Even as they praised him, Senate Democrats said Tuesday that Donald Trump’s pick to represent the U.S. in trade negotiations needs a waiver from Congress to legally hold the job because of his previous work for foreign clients. Republicans disagree but the dispute could slow the confirmation of Robert Lighthizer to become the U.S trade representative. Lighthizer is an experienced trade official who, in private practice, represented “a small number of foreign clients in the late 1980s and early 1990s,” said Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee. A 1995 law prohibits anyone who has represented a foreign entity in trade negotiations with the U.S. from being the nation’s top trade representative. Nevertheless, Hatch said the Justice Department does not believe Lighthizer requires a waiver. Several Democrats disagreed at Lighthizer’s Senate
confirmation hearing Tuesday. “As a legal matter, Mr. Lighthizer’s previous work for foreign governments makes him ineligible to be appointed as the United States trade representative,” said Sen. Ron Wyden of Oregon, the top Democrat on the Finance Committee. Wyden said Democrats are willing to pass a waiver for Lighthizer but only if Republicans pass an unrelated bill to protect retired coal miners’ pension and health care benefits. The miners’ pension plan is headed toward insolvency. Senate Majority Leader Mitch McConnell, R-Ken., has introduced legislation to maintain the miners’ benefits. But Democrats complain that the Senate is not moving fast enough. “This kind of legislative hostage-taking certainly is not unheard of in the Senate, but in the context of consideration of a nominee for the Office of U.S. Trade Representative, it is totally unprecedented,” Hatch said. Aside from the waiver dis-
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The public is hereby advised that I, CHERIKA COOPER of Perpall Tract, P.O.Box CR-54132, New Providence, The Bahamas, mother of XAVIER CHEA McKINNEY, intend to change my son’s name to XAVIER CHEA COOPER. If there are any objections to the change of name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of the publication of this notice.
AssistAnt MAnAger Position Available
in restaurant on Western side of Nassau Previous restaurant management experience a must Call: 242-431-0833 for information
pute, Democrats were generally supportive of Lighthizer. Sen. Sherrod Brown, D-Ohio, praised Lighthizer’s work on behalf of U.S. steel manufacturers. Brown said Lighthizer “understands the kind of trade policy we need.” Sen. Debbie Stabenow, DMich., said she hopes that a bipartisan solution can be reached on the waiver dispute. Lighthizer has criticized some Republicans for being too pro-free trade. He told the Senate panel that the U.S. should have an “America first trade policy.” “We can do better in negotiating our trade agreements and stronger in enforcing our trade laws,” he said. Trump has broken with most Republicans in his criticism of free trade agreements. He pulled the U.S. out of the 12-nation Trans-
Pacific Partnership pact and has said he will renegotiate the North American Free Trade Agreement with Canada and Mexico. NAFTA was negotiated by President Bill Clinton. It was ratified by the Senate with broad Republican support.
NOTICE
NOTICE is hereby given that ROSELINE PAUL of
#329B Carmichael Road, P.O.Box CR-56302 New Providence, The Bahamas is applying to the Minister
responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of March, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
Trump has said he would ink one-on-one trade deals with individual countries. Lighthizer served as deputy U.S. trade representative under President Ronald Reagan. He was the staff director of the Finance Committee when Sen. Bob Dole was its chairman.
United States Trade Representative-nominee Robert Lighthizer, left, talks to former Sen Bob Dole, R-Kan.,yesterday during his confirmation hearing on Capitol Hill in Washington. President Donald Trump’s pick to represent the country in trade negotiations says the U.S. should have an “America first trade policy.” (AP Photo)
NOTICE
NOTICE is hereby given that LIVINGSTON JOSEPH of #84 Wulff Road, P.O. Box EE-16667, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of May, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
LEGAL NOTICE
PEDDYCAKE LTD.
WATERLOO INVESTMENT MANAGEMENT INC. (In Voluntary Liquidation)
NOTICE is hereby given as follows: (a) Peddycake Ltd. is in Voluntary Dissolution under the provisions of Section 138(4) of the International Business Companies Act 2000. (b) The Dissolution of the said Company commenced when the Articles of Dissolution were submitted to and registered by the Registrar General of the Commonwealth of The Bahamas. (c) The Liquidator of the said Company is Beatus Limited, P.O. Box N7776-348, N.P., Bahamas.
Notice is hereby given in pursuance of Section 138(8) of The International Business Companies Act, 2000 (as amended), the Dissolution of the abovenamed company has been completed, a Certificate of Dissolution has been issued and the above-named company has therefore been struck off the Register. The date of the completion of the dissolution was the 30th day of December 2016.
Dated this 13th March, 2017 Beatus Limited Liquidator
Bennet R. Atkinson Liquidator
LEGAL NOTICE
NOTICE
LEGAL NOTICE
NORAY PORTFOLIO INC. (In Voluntary Liquidation)
GONAYAN LTD.
SHORE PORTFOLIO INC. (In Voluntary Liquidation)
Notice is hereby given in pursuance of Section 138(8) of The International Business Companies Act, 2000 (as amended), the Dissolution of the abovenamed company has been completed, a Certificate of Dissolution has been issued and the above-named company has therefore been struck off the Register. The date of the completion of the dissolution was the 18th day of January 2017.
NOTICE is hereby given as follows: (a) Gonayan Ltd. is in Voluntary Dissolution under the provisions of Section 138(4) of the International Business Companies Act 2000. (b) The Dissolution of the said Company commenced when the Articles of Dissolution were submitted to and registered by the Registrar General of the Commonwealth of The Bahamas. (c) The Liquidator of the said Company is Beatus Limited, P.O. Box N7776-348, N.P., Bahamas.
Notice is hereby given in pursuance of Section 138(8) of The International Business Companies Act, 2000 (as amended), the Dissolution of the abovenamed company has been completed, a Certificate of Dissolution has been issued and the above-named company has therefore been struck off the Register. The date of the completion of the dissolution was the 18th day of January 2017.
Dated this 13th March, 2017
Bennet R. Atkinson Liquidator
Beatus Limited Liquidator
Bennet R. Atkinson Liquidator
THE TRIBUNE
Wednesday, March 15, 2017, PAGE 11
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, ASHLEY MONIQUE WOODPIERRE and DANNY DENNIS PIERRE of Pine Dale, P.O. Box ER-6067, Eight Mile Rock, Bahamas intend to change our child’s name from ASHLEY DAMONIQUE PIERRE to ASHLEY DAMONIQUE GAYLE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
NOTICE is hereby given that CLEO ORLANDO WALTERS of Lot #50 Pride Estates, P.O.Box N-7630, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of March, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that JESULA JEAN-BAPTISTE of North Palmetto Point, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 15th day of March, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE EXXONMOBIL EXPLORATION AND PRODUCTION TANZANIA (KUNGUMANGA) LIMITED Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000, notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by The Registrar General on the 27th day of February A.D., 2017. Dated the 15th day of March, A.D., 2017. Robert W. Rice Liquidator of EXXONMOBIL EXPLORATION AND PRODUCTION TANZANIA (KUNGUMANGA) LIMITED
MARKET REPORT TUESDAY, 14 MARCH 2017
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,904.28 | CHG -12.22 | %CHG -0.64 | YTD -33.93 | YTD% -1.75 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.56 4.70 0.12 7.20 8.50 6.10 10.60 15.27 2.72 1.60 5.83 9.75 11.00 9.25 6.90 12.01 11.00
52WK LOW 2.70 17.43 8.19 3.50 1.77 0.12 3.80 8.15 5.56 7.72 11.00 2.18 1.31 5.80 6.78 8.56 7.00 6.35 11.92 10.00
1000.00 1000.00 1000.00 1000.00
900.00 1000.00 1000.00 1000.00
PREFERENCE SHARES
1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01
1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00
52WK LOW 100.00 100.00 100.00
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +
SYMBOL FBB17 FBB18 FBB22
Bahamas Note 6.95 (2029) BGS: 2014-12-3Y BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y
BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
MUTUAL FUNDS 52WK HI 2.03 3.92 1.94 169.70 141.76 1.47 1.67 1.57 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 3.54 1.77 0.12 4.50 8.50 6.00 10.48 11.86 2.06 1.55 5.83 9.75 10.90 9.25 6.90 12.01 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 100.00 100.00 100.00 106.03 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
CLOSE 4.38 15.85 9.09 3.54 1.77 0.12 4.50 8.50 6.00 10.48 11.86 2.08 1.55 5.83 9.75 9.85 9.25 6.90 12.01 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 0.02 0.00 0.00 0.00 -1.05 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
CHANGE 0.00 0.00 0.00
105.83 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
-0.20 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 1,332 50
1,000
VOLUME
NAV 2.03 3.92 1.94 168.44 141.76 1.47 1.64 1.56 1.04 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 20.8 N/M N/M -150.0 14.0 14.0 23.3 107.8 20.4 19.4 19.4 18.8 10.3 11.3 23.5 19.7 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
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% 0.40% 4.04% -1.76% 1.06% -0.34% 2.70% -0.95% 1.55% 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 31-Jan-2017 31-Jan-2017 31-Jan-2017 31-Jan-2017 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
YIELD 1.83% 6.31% 0.00% 5.93% 0.00% 0.00% 2.00% 3.53% 3.67% 3.44% 4.13% 2.88% 3.87% 4.12% 4.10% 0.00% 3.57% 2.03% 5.33% 0.00%
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225
PAGE 12, Wednesday, March 15, 2017
THE TRIBUNE
Another drop for oil prices pulls stock indexes lower NEW YORK (AP) — Stock indexes sank Tuesday after yet another drop in the price of oil dragged down shares across the energy industry. Other areas of the market saw modest losses as investors wait to hear from the Federal Reserve, which began a two-day policy meeting on interest rates. The Standard & Poor’s 500 index fell 8.02 points, or 0.3 percent, to 2,365.45. The Dow Jones industrial average fell 44.11, or 0.2 percent, to 20,837.37. The Nasdaq composite fell 18.97, or 0.3 percent, to 5,856.82. Two stocks fell on the New York Stock Exchange for every one that rose. The price of oil has been slipping on concerns that supplies will outweigh demand. It’s dropped from nearly $55 per barrel in late February to $47.72 on Tuesday, down 68 cents, or 1.4 percent. Brent crude, which is used to price international oils, fell 43 cents to $50.92 per barrel in London.
It’s the seventh straight decline in the price of oil. Energy stocks in the S&P 500 fell 1.1 percent, the largest loss among the 11 sectors that make up the index. Marathon Oil fell 52 cents, or 3.3 percent, to $15.32. Lower oil prices help to curb inflation, and bond yields sank in tandem. The yield on the 10-year Treasury note fell to 2.59 percent from 2.63 percent late Monday. The 30-year yield sank to 3.18 percent from 3.21 percent, while the two-year yield dipped to 1.37 percent from 1.38 percent. Stocks of smaller companies sank more than the rest of the market. The Russell 2000 of small-cap stocks lost 0.6 percent, double the decline of the S&P 500 index of the largest stocks. When the Fed finishes its meeting on Wednesday, most economists expect it to raise interest rates by a quarter of a percentage point. It would be only the third increase since the Fed slashed
rates to a record of nearly zero in 2008 during the financial crisis. What investors are likely more interested to hear is what Fed Chair Janet Yellen says about the pace of future increases. The job market, stock prices and other economic indicators have picked up momentum in recent months, which raises expectations for more increases. In the past, expectations for higher rates may have spooked stock investors, because more-expensive borrowing can slow the economy. That’s not happening this time. “We’re in an environment now where the market is no longer afraid of Fed hikes because the perception now is the Fed is hiking for the right reasons,” said Jon Adams, senior investment strategist at BMO Global Asset Management. As long as the economy continues to improve and interest-rate hikes are only
The statue of George Washington on the steps of Federal Hall overlooks the New York Stock Exchange, right, during a winter storm yesterday. Global stocks drifted lower on Tuesday as investors looked to the Federal Reserve’s policy meeting for an expected interest rate increase and hints on future hikes. (AP Photo) Airline stocks had some of the market’s biggest losses after the industry canceled thousands of flights in the face of fierce snowstorms. United Continental fell $3.30, or 4.7 percent, to $66.55, while rival Southwest Airlines lost $1.61, or 3 percent, to $52.88 and American Airlines Group dropped $1.16, or 2.7 percent, to $41.21 . Valeant Pharmaceuticals fell $1.22, or 10.1 percent, to $10.89 after one of its biggest investors sold its entire stake
in the company. Valeant’s stock has tumbled nearly 96 percent since its peak in the summer of 2015 because the company is facing more scrutiny for raising prices on its drugs. Activist investor Bill Ackman’s Pershing Square said Monday it has sold its investment Valeant. Health care stocks held relatively steady overall amid increased expectations that the Republican proposal to overhaul the Affordable Care Act is unlikely to pass in its current form.
Critics of GOP health bill get ammunition from budget score
seemed to contradict Speaker Ryan. “We believe that the plan that we’re putting in place is going to insure more individuals than currently are insured. So we think the CBO simply has it wrong,” Price said It was unclear exactly what impact the CBO news would have on the debate. Republicans were already planning to move forward with no Democratic votes, aiming for action by the full House next week and the Senate the week after that. Senate prospects look particularly dicey, given the GOP’s slim 52-48 majority and vociferous objections from several Republicans including Rand Paul of Kentucky and Tom Cotton of Arkansas.
WASHINGTON (AP) — Critics of GOP health care legislation got fresh ammunition from a report that estimates the bill would increase the ranks of the uninsured by 14 million people next year alone, and 24 million over a decade. The findings from the nonpartisan Congressional Budget Office could make prospects for the legislation backed by President Donald Trump even tougher, with a few House and Senate conservatives already in open revolt and moderate Republicans queasy about big cuts to the Medicaid safety net for the poor. But with the legislation
headed for votes in the House Budget Committee within days and floor action next week, its supporters at the White House and on Capitol Hill showed no sign of retreat. Instead, they attacked the parts of the CBO report they didn’t like, while touting the more favorable findings, including smaller deficits from their bill and lower premiums over time. “I’m pretty encouraged by it, it actually exceeded my expectations,” House Speaker Paul Ryan of Wisconsin said on Fox News Channel shortly after the report was released Monday evening. Ryan said the CBO find-
ings about millions losing coverage were to be expected, because the GOP legislation removes the penalty in former President Barack Obama’s Affordable Care Act aimed at coercing people into buying coverage. “If we’re not going to force someone to buy something they don’t want to buy they’re not going to buy it, and that’s kind of obvious,” Ryan said. The GOP legislation would use tax credits to help consumers buy health coverage, expand health savings accounts, phase out an expansion of Medicaid and cap that program for the future, end some requirements for
gradual, analysts say stocks can maintain their lofty heights. One key risk, Adams said, is that many of the encouraging data points from recent months have come from opinion surveys, such as confidence levels for consumers and purchasing managers. He’d like to see that optimism translate into more action by shoppers and businesses, whether that’s by spending or producing more, before getting more confident.
health plans under Obama’s law, and scrap a number of taxes.
CBO Figures Ryan pointed to other CBO figures, including that the GOP bill reduces federal deficits by $337 billion over a decade, and begins to bring down insurance premiums by around 10 percent starting in 2020, though that comes only after premiums sharply rise in 2018 and 2019. Democrats scoffed at Ryan’s positive take, calling the CBO analysis damning evidence that Republicans
are interested only in giving hundreds of billions of dollars in tax breaks to the rich, which their bill would accomplish, while yanking health coverage from the poor. “I hope they would pull the bill. It’s really the only decent thing to do,” House Democratic Leader Nancy Pelosi said. “How can they look their constituents in the eye when they say to them ‘24 million of you will no longer have coverage.’” At the White House, Health and Human Services Secretary Tom Price rejected portions of the CBO’s findings, in comments that
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