05022017 business

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TUESDAY, MAY 2, 2017

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Civil society unites to halt legislative ‘panic’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Fourteen Bahamian civil society organisations have joined forces to push for a standard public consultation process over new laws and investment projects, describing this as “a critical piece of the puzzle for good governance”.

The Organisation for Responsible Governance (ORG), in a joint position paper with groups such as Our Carmichael and reEarth, said the absence of a properly-defined consultation paper undermined both government transpar-

Fourteen groups call for standard public consultation Absence ‘not serving Bahamas’ best interests’ Labour law controversy exposed flaws ency and the basis of the Bahamas’ democracy.

“This lack of straight-forward, transparent and proactive processes for public

consultation does not support a positive and factbased dialogue to establish policies designed to best serve the general interest of the nation,” the civil society groups warned.

“Instead, it can make policy-making efforts contentious and oppositional.

It also breeds a culture of pessimism and detachment of the Bahamian people, reinforces the growing public mistrust of government and discourages civic participation in the democratic processes of the nation.”

Rick Lowe, an executive with the Nassau Institute, one of the signatories to the position paper, told

Tribune Business that the recent controversy over the Government’s proposed labour law reforms highlighted “the panic” that can be caused by ill thoughtout legislation that is introduced without warning.

“Everybody went into a panic,” he recalled. “The Government only heard one side of the argument before proceeding. There didn’t seem to be a sense of balance to the way they approached it.”

Following a week of intensive, frantic negotiations, the Christie administration ultimately amended its proposed Employment See pg b5

Baha Mar Heads show ‘Bahamians paying for deal’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Opposition politicians yesterday argued that Baha Mar’s newly-released Heads of Agreement confirms “the Bahamian people are the ones paying for this deal”, and the $101.5 million creditor payout, via tax breaks granted to the project’s new owner.

K P Turnquest, the FNM’s deputy leader, told Tribune Business that the Christie administration’s agreement with Chow Tai Fook Enterprises (CTFE), signed on April 25, revealed “the true cost of this deal” for the taxpayer.

“First you have the indirect costs given up until 2019, and then the direct cost that’s involved in terms of contributing to the severance payments and causing this deal to happen,” he said of the tax breaks and incentives granted to CTFE. “I can’t ever begrudge Bahamians being made whole, but we must be honest with the Bahamian when we are talking about who is paying for the severance payments and creditors. It’s the Bahamian people through the concessions granted. It may not be a direct payment from the Treasury, but it’s revenue given up.”

Mr Turnquest was backed

by Branville McCartney, the Democratic National Alliance’s (DNA) leader, See pg b4

VAT, transfer tax breaks ‘finance creditor payouts’ Bran, KP slam CTFE deal as ‘complete giveaway’ Vital revenue for cash-strapped Treasury foregone

Baha Mar Resort

Fears over Baha Mar infrastructure costs

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Fears were raised last night that the Government’s Heads of Agreement with Baha Mar’s new owner may have exposed taxpayers to a multi-million dollar infrastructure bill, after it waived obligations imposed on the original developer.

An attorney with See pg b5

Branville McCartney

kp Turnquest

New deal releases CTFE from financing obligation Concern taxpayers, public must foot the bill Casino tax incentives to cover CTFE operating losses

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Insurer 16-17% ahead of target if no Matthew

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A Bahamian general insurer yesterday said it would have beaten 2016 profit forecasts “by 16-17 per cent” had it not been for Hurricane Matthew, which blew gross claims 69.4 per cent higher than its previous record.

Tom Duff, Insurance Company of the Bahamas (ICB) general manager, told Tribune Business that if its $2.8 million share of those gross losses was ‘written back in’, the company’s performance would have been flat compared to 2015.

However, Mr Duff said ICB was especially encouraged that its balance sheet had emerged “relatively unscathed” from the record loss event for both itself and the wider Bahamian insurance industry, with net equity just shy of $30 million at year-end 2016.

He added that Matthew had been “the perfect storm” in terms of its path, which took the Category Three/Four hurricane near New Providence and Free-

Storm blows ICB to $61m gross losses record Claims 69% higher than previous mark; share $2.8m Top executive sees ‘halt’ to property rates slide port - its two areas of greatest risk exposure.

Looking ahead, Mr Duff said the relatively weak economy and tight disposable incomes will make it hard for Bahamian property and casualty underwriters to increase gross written premiums, ICB’s having fallen by 1.4 per cent yearover-year in 2016.

However, he suggested that ICB and its competitors could be helped by Hurricane Matthew, as losses associated with the event were likely “to halt any further softening” in Bahamian property See pg b4

Exuma ‘deserted island’, says $100m Fyre Fest lawsuit

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The negative Fyre Festival fall-out intensified yesterday as a Hollywood celebrity attorney described Exuma as a “dangerous, deserted island” in a lawsuit seeking $100 million in damages from the organisers.

Mark Geragos, who has See pg b4

Claims attendees suffered ‘false imprisonment’ Even though it admits ‘Sandals down the road’ Dangerous animals id’d; it’s Exuma’s swimming pigs

PAGE 2, Tuesday, May 2, 2017

THE TRIBUNE

THE TRIBUNE

Tuesday, May 2, 2017, PAGE 3

Minister confirms two landfill bids

Carnival bands suffer ‘dismal’ costume sales

By NATARIO McKENZIE

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Two bids have been submitted for the New Providence landfill’s management and remediation, Tribune Business understands.

Kenred Dorsett, minister of the environment and housing, said yesterday: “I know that there are two bids. I’m awaiting for the official names. I haven’t gotten a formal notification on the matter as yet.”

Mr Dorsett added that he expects to receive a report today. The opening of the bids for the New Providence landfill’s management and remediation contract was held this past Friday.

One of the bidders is the Bahamian Waste Resources Development Group (WRDG) and its partner, Providence Advisors chief, Kenwood Kerr. The other is understood to be foreign, and possibly originate from south Florida.

As reported by Tribune Business on Monday, the Government has committed to resolving the New Providence landfill’s woes by year-end December 2017 as part of its Heads of Agreement with Baha Mar’s new owner.

The Christie administration’s April 25, 2017, Heads of Agreement with Chow Tai Fook Enterprises (CTFE)stipulates that any failure by the Government to resolve the landfill’s problems by that date will be treated as “a force majeure” event.

Private sector groups had been given eight days to submit bids to take over the New Providence landfill’s management and remediation.

The tight timeline for submitting bids, with interested parties effectively given six working days, was thought to fa-

vour Bahamian groups.

However, local waste management industry sources previously complained to Tribune Business that the bid deadlines gave too little time for interested parties to conduct proper due diligence on the New Providence landfill following the recent blaze, especially since its remediation is one of the Government’s requirements.

In its tender advertisement, the Government said:” “The Government is inviting proposals from the private sector relating to potential investment, remediation and management of operations of the Harrold Road [Tonique Williams Highway] landfill facility,” the advert states.

“The Government’s longterm waste management strategies include reforms which seek to introduce efficiencies in waste management at various facilities throughout the Commonwealth of the Bahamas.”

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 administration, having revealed to Tribune Business it had been incurring continuous, heavy losses.

The Government subsequently charged 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.

Tribune Business Reporter

nmckenzie@tribunemedia.net

Junkanoo Carnival band owners yesterday said 2017 may be the “toughest year yet’, blaming the postponement debacle and preelection politics for “dismal” costume sales.

Dario Tirelli, the Bahamas Carnival Band Owners Association’s (BCBOA) president, told Tribune Business: “This year has been troubling”.

With the Nassau leg of the event just days away, on May 4-6, Mr Tirelli said the bands were spending “night and day” trying to ensure that costumes are available for their customers. They are also working “hand in hand” with organisers to help promote the event.

“Costume sales have been dismal to a point,”Mr Tirelli said. “We lost a lot of persons due to the postponement issue. A lot of persons cancelled immediately when they heard the story.

“We are still trying to

2017 to be ‘toughest year yet’ share and send out as much information as possible, but this is going to be the toughest year without a doubt after the success we had in the first two years.”

Carnival organisers have already acknowledged that attendance at the event’s kick-off in Grand Bahama over the weekend “was not as robust” as last year’s event.

The Nassau event, set for May 4-6, had been postponed to May 18-20 due to conflicts with the general election timetable. Following two days of widespread backlash both locally and internationally over the last-minute delay, and the cancellation of the Grand Bahama event, Tourism Minister Obie Wilchcombe announced that the original dates were reinstated, along with the Grand Bahama component.

“The postponement issue

Bahamas Junkanoo Carnival 2016 Road Fever Parade. had a significant impact on us,” said Mr Tirelli. “We are optimistic and we will follow through with our plans as much as possible. The success of it will still be in our hands.

“This is a business but this year has been troubling.

The election has certainly been playing on us with the

opposition politics on Carnival. I think we lost some local revellers. They were upset at the postponement and some of them are not coming back to the table.

It’s too late for the international revellers but hopefully they will come back next year.”

BAMSI boosts crop varieties The Bahamas Agriculture and Marine Science Institute (BAMSI) yesterday said efforts to improve domestic food security were proving succesful, after eight varieties of sweet potatoes and two cultivars of cassava were produced at its North Andros and Abaco locations.

BAMSI’s latest homrgrown crops stem from regional partnerships with the Research Institute for Tropical Roots and Tubers (INIVIT) in Cuba, and agricultural agencies CARDI

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and IICA. The new sweet potato and cassava varieties were successfully grown and harvested in April in North Andros site.

The new varieties are said to be superior in nutritional value and yield, while their low glycemic level makes them good for diabetics.

BAMSI said the sweet potatoes were useful for traditional meal preparations and fries. They are also good sources of carbohydrates for poultry, pigs, sheep and goats.

BAMSI students were involved in testing the new varieties of sweet potato and cassava. Pictured with BAMSI president and Bahamas Ambassador to the United Nations Food and Agriculture Organisation, Godfrey Eneas, are (from left) Aaron John, Luca Young (in back) Jerchoyae Moxey and Shaquille McSweeny.

PAGE 4, Tuesday, May 2, 2017

Baha Mar Heads show ‘Bahamians paying for deal’ From pg B1 who said the tax breaks and investment incentives granted to CTFE had effectively financed the payments to former Baha Mar staff, contractors and other Bahamian creditors.

Arguing that the tax breaks granted to Baha Mar’s new owner were worth more than the collective $101.5 million collective payout to Bahamian creditors, Mr McCartney told Tribune Business: “In essence, we paid off the creditors.

“That Heads of Agreement tells us the Bahamian people paid off the creditors. The amount of tax breaks they got compared to what was paid out; what the country is not getting far exceeds what was paid out.”

The DNA leader described the Baha Mar Heads of Agreement with CTFE as “a complete giveaway”, and questioned whether it violated the ‘Most Fa-

voured Nation’ treatment enjoyed by Atlantis, which also has to enjoy all incentives and tax breaks offered to any other resort.

Both men were responding after Tribune Business reported on Monday that the Heads of Agreement effectively showed the Christie administration had traded tax concessions for Baha Mar’s construction completion and payment to Bahamian creditors.

The two ‘asset transfers’ necessary to effect Baha Mar’s sale to CTFE are “exempt from all relevant taxes”, including VAT and Stamp Duty, with the $4.2 billion development’s construction completion also escaping the 7.5 per cent levy until end-2019.

This makes Baha Mar’s construction and furnishing VAT-free until 2020, a move unlikely to sit well with the many Bahamians and businesses who will still have to pay, collect and ad-

Insurer 16-17% ahead of target if no Matthew From pg B1 insurance premium rates.

“That’s the reality of our results,” Mr Duff told Tribune Business of last year’s record claims experience.

“Had it not been for Hurricane Matthew, we would have beaten Budget by 1617 per cent.

“Matthew effectively eliminated our profit for the year, but the encouraging thing for us was that this is the biggest hurricane the industry has faced, and the biggest hurricane ICB has faced, but despite that it didn’t erode the balance sheet.

“It’s pretty encouraging that while we sustained a

loss of that magnitude, we came through relatively unscathed. We withstood one of the biggest hurricanes in the Bahamas over the past 80 years, and the balance sheet was relatively intact.”

ICB, the underwriter through which BISX-listed J. S. Johnson placed much of its property and casualty business, saw total comprehensive income plummet from $2.948 million in 2015 to $20,885.

This was almost entirely due to Hurricane Matthewrelated losses, with Mr Duff pegging ICB’s net loss, or share of the gross, at $2.8 million. It received just over 2,000 claims.

Exuma ‘deserted island’, says $100m Fyre Fest lawsuit From pg B1 represented the likes of Michael Jackson and Winona Ryder, and appears regularly on major news networks such as CNN, gave a distinctly unflattering description of the Bahamas in the action filed with the central California federal court.

The action, on behalf of Fyre Festival-goer Daniel Jung, is a class action that hopes to attract at least 150 of his fellow travellers as plaintiffs in their claim against hip hop artist, Ja Rule, and his technology entrepreneur friend, Billy McFarland.

Mr Geragos’s legal filings did clear up one mystery though - the identity of the ‘wild animals’ said to be threatening festival-goers

and running amok at the site near Roker’s Point.

They are none other than Exuma’s famous ‘swimming pigs’, and the lawsuit bizarrely includes a social media posting from one Fyre Festival attendee saying the experience of swimming with them had eased his disappointment.

“In addition to the substandard accommodations, wild animals were seen in and around the festival grounds,” the class action lawsuit blared, including a picture of a pig swimming happily passed several people.

The attached social media posting said: “Fyre is a huge s*** show but it hasn’t been a total loss. I got to meet this swimming pig yesterday.”

THE TRIBUNE

minister the tax on the Government’s behalf.

With Baha Mar’s real estate assets valued conservatively at between $1-$2 billion, the exemption from the 10 per cent ‘transfer tax’ - split into 7.5 per cent VAT, 2.5 per cent Stamp Duty - means that the Government is foregoing between $200-$400 million in revenues on the two ‘asset transfers’ alone.

However, VAT’s nature means the issue is not so simple. Gowon Bowe, the Bahamas Chamber of Commerce’s chairman, previously pointed out that the 7.5 per cent VAT element would be treated as a ‘business input cost’, and offset or netted off against future VAT payments generated when Baha Mar became operational.

This means the Government had the option of collecting its VAT money now or later, once the property became operational, and the Christie administration has clearly opted for later.

The Government will likely argue that taxes foregone upfront will be more

than offset by the increased economic activity and employment flowing from Baha Mar’s completion and opening, with this also generating greater recurring revenues for the Treasury in years to come.

And, while the incentives may appear excessive, the Christie administration will also hold to its position that they are a valid ‘trade-off’ for inducing the China Export-Import Bank to compensate creditors and get Baha Mar open, rather than letting it sit there as a deteriorating ‘white elephant’.

Mr Turnquest, though, expressed disquiet that the Government had writtenoff $10.75 million in casino taxes owed by former Baha Mar developer, Sarkis Izmirlian, as a result of putting his corporate structure into liquidation.

Describing this as “real money” that would have assisted a cash-strapped Treasury struggling to service a $7 billion-plus national debt, Mr Turnquest said: “When you add it all up, it’s the Bahamian people paying for this deal.

“While the Government tries to make us feel the Chinese paid all this money, when you add the tax breaks and write-offs, the Bahamian people are invested heavily in this project.

“Revenues to the Treasury over the life of this deal are marginal at best.

We’re giving up all the taxes; where are we making the money? When does the Treasury get to benefit from this transaction?” he continued.

“Again, it seems as if CTFE is getting this project for no cost. It’s all being reimbursed by the Bahamian people. Are they buying Baha Mar on credit? The Bahamian people ought not to be stuck with the bill for this thing.”

The Bahamian taxpayer was already heavily invested in Baha Mar under Mr Izmirlian, the Christie administration previously alleging that the former developer had obtained $1.2 billion worth of incentives and public land over the 21year period to 2032.

A Tribune Business comparison of the Heads

of Agreement granted to Mr Izmirlian in 2011 by the former Ingraham administration, and CTFE’s new agreement, shows that the two had been granted similar incentives and tax breaks, VAT excepted (see other article on Page 1B).

However, many are likely to question why Baha Mar has been given a VAT exemption on all construction and outfitting until 2020, given that its last resort property - Rosewood - is due to open by end-April 2018.

Mr Turnquest said this aspect, in particular, had placed Bahamians at “a disadvantage”, especially given annual fiscal deficits that have remained stubbornly above $300 million.

“It seems we have not learned the lessons of the past,” Mr Turnquest told Tribune Business.

“We continue to cater to large investors, as opposed to spending resources on SMEs and helping to build local industries and solutions. We continue to be at the mercy of large investors.”

“The gross loss was $61 million, and the net loss to us was $2.8 million,” he confirmed. “If you add that in, we were flat with the prior year but better than budget.”

Mr Duff said ICB’s previous gross loss record was set in 2004, when Hurricane Frances produced $28 million in claims, followed by Hurricane Jeanne with $8 million.

“That was our worst ever, but this one coming in at $61 million was substantially greater,” the ICB general manager added.

“It’s a bit unfortunate that the path that Matthew took was the one that was least welcome. The hurricane tracked across our main areas of risk concentration in western New Providence and Freeport, where we’re

pretty heavily exposed.

“That was the one we wanted to avoid; that particular path, the perfect storm in taking out our exposures.

We’re hoping lightning doesn’t strike twice, or hurricanes don’t strike twice and take the same path.”

ICB’s 2016 performance mirrored that of its property and casualty rivals, with net claims more than doubling to $4.186 million compared to $1.993 million in 2015.

This resulted in the carrier seeing a $2.239 million underwriting profit the prior year turn into a $108,236 loss in 2016, with interest and other income from its investments enabling ICB to barely scrape into the ‘black’ at year-end.

Mr Duff, meanwhile, economic and property premium softness had also

impacted ICB’s top-line, with gross written premiums down 1.4 per cent at $44.627 million, compared to $45.243 million the year before.

“Last year, premium rates were dropping and a lot of that was passed on to the consumer,” he told Tribune Business. “As well as a difficult economy, we had rates dropping, certainly in the property class, which made it difficult for anyone to grow income short of expanding into other areas or countries.

“Looking forward to 2017, one of the big challenges for ICB is how we grow our premium base in an environment where disposable income for private individuals and businesses is likely to be under pressure.”

Mr Duff explained that Hurricane Matthew was likely to help in this instance, as the losses experienced by Bahamas-based insurers and their global reinsurance partners will likely cease the slippage in property premium rates.

“Over the last few years local property rates have fallen to fairly unhealthy levels on the back of reduced reinsurance costs,” he told Tribune Business.

“What this hurricane will probably do is halt any further softening of property rates. I don’t think there will be significant increases, but it will halt the slide we’ve seen over the last two-three years.

“It will provide an opportunity for general insurers to stabilise rates, particularly in the property class.”

The Ministry of Tourism has been monitoring social and mainstream media outlets for the past several days, trying to intervene where necessary to protect the Bahamas’ and Exuma’s reputation, and pin the blame on the organisers.

But the Fyre Festival debacle continues to attract widespread negative publicity, with the Geragos lawsuit a major story across multiple media outlets. The UK’s Guardian newspaper even included the Fyre Festival among its top music events that went arwy.

The class action lawsuit alleged: “Defendants promoted their Fyre Festival as a posh, island-based music festival featuring ‘first-class culinary experiences and a luxury atmosphere’. Instead, festival-goers were lured into what various media outlets have since labelled a ‘complete disaster’, ‘mass

chaos’, and a ‘post-apocalyptic nightmare’.

“The festival’s lack of adequate food, water, shelter, and medical care created a dangerous and panicked situation among attendees suddenly finding themselves stranded on a remote island without basic provisions that was closer to ‘The Hunger Games’ or ‘Lord of the Flies’ than Coachella.

“Festival-goers survived on bare rations, little more than bread and a slice of cheese, and tried to escape the elements in the only shelter provided by defendants: small clusters of ‘FEMA tents’ exposed on a sand bar, that were soaked and battered by wind and rain.”

Mr Geragos, on his client’s behalf, added: “Attendees’ efforts to escape the unfolding disaster were hamstrung by their reliance upon defendants for transportation, as well as by the fact that defendants promoted the festival as a ‘cashless’ event - defendants instructed attendees to upload funds to a wristband for use at the festival rather than bringing any cash.

“As such, attendees were unable to purchase basic transportation on local taxis or buses, which accept only cash. As a result of defendants’ roadblocks to escape, at least one attendee suffered a medical emergency and lost consciousness after being locked inside a nearby building with other concertgoers waiting to be airlifted from the island.”

The lawsuit claimed that the organisers “had been aware for months that their festival was dangerously under-equipped and posed a serious danger to anyone in attendance”, again raising questions over the Ministry of Tourism’s due diligence and the assurances it received.

“Individuals employed by defendants have since acknowledged that no infrastructure for food service or accommodations was in place as recently as last month - the island was totally barren - and that the few contractors who had been retained by defendants were refusing to work because they had not been paid,” the lawsuit claimed.

“Various news outlets be-

gan describing these logistical problems and labelling the festival as a ‘scam’ weeks ago. At the same time, however, defendants were knowingly lying about the festival’s accommodations and safety, and continued to promote the event and sell ticket packages. The festival was even promoted as being on a ‘private island’ once owned by drug kingpin Pablo Escobar - the island isn’t private, as there is a ‘Sandals’ resort down the road, and Pablo Escobar never owned the island.”

That likely refers to Norman’s Cay, once the home of Mr Escobar’s associate, Carlos Lehder. The lawsuit, though, goes on to describe Great Exuma as “a remote island without food, shelter or water”.

“While plaintiff is aware that defendants have made overtures regarding refunds, class members’ damages in being lured to a deserted island and left to fend for themselves - a situation tantamount to false imprisonment - exceed the face value of their ticket packages by many orders of magnitude,” the action concluded.

THE TRIBUNE

Tuesday, May 2, 2017, PAGE 5

Fears over Baha Mar infrastructure costs From pg B1 experience in drafting Heads of Agreement transactions, speaking on condition of anonymity, drew Tribune Business’s attention to clauses 1.6 and 1.15 of Chow Tai Fook Enterprises (CTFE’s) Heads of Agreement.

Read together, they appear to release the Hong Kong-based conglomerate from any obligation to finance infrastructure upgrades outside the Baha Mar development campus - a condition that was imposed on previous developer, Sarkis Izmirlian.

Clause 1.6 required Mr Izmirlian to “fund..... all public infrastructure costs outside the boundaries of the project necessary for a world-class resort, in addition to providing for waste treatment or back-up electric power and water desalination facilities to the extent needed for the project”.

But clause 1.15 of the new Heads of Agreement, in confirming that “the investments and obligations referenced in 1.6 were not completed by” Mr Izmirlian, adds the caveat that they “are not an obligation assumed by the project company [CTFE] hereunder”.

The attorney said CTFE’s ‘release’ from any obliga-

tion to finance public infrastructure upgrades essential to Baha Mar’s smooth functioning seemed to imply that the Bahamian public, and taxpayers, will now be required to pick up the bill.

Although the Government is seeking to outsource the New Providence landfill’s management and remediation to private capital and operators, the Heads of Agreement with CTFE still commits it to extensive energy and water and sewerage upgrades.

Bahamas Power & Light (BPL) has to “address reliable and consistent supply of electricity on the island of New Providence, which will include the ability to meet the requirements of the project”.

This involves the installation “of all supporting infrastructure necessary to support secure and dependable electricity supplies to the project, without the need for unusual load-shedding or other interruption in electricity supply to the project”.

This must be completed

by December 31, 2017, which could well prove a tall order for the Government and BEC/BPL, given that both are cash-strapped, and based on the utility’s past performance.

Finally, in the list of ex-

Civil society unites to halt legislative ‘panic’ From pg B1 Act and Industrial Relations Act reforms to make them less labo ur-friendly.

Ho wever, Mr Lo we said that besides exposing why a standard template for public consultation was needed, the episo de also further undermined private sector confidence regarding the Bahamas’ business and investment climate.

“Go vernment, like us, doesn’t kno w every aspect o f every Bill, and ho w it impacts people and who it impacts,” he added. “They make assumptions from their perspective, no t realising the damage it can cause to industry.

“There’s been all sorts o f things. With the first labo ur legislation in 2001, we ended up having to change o ur personnel structure witho ut no tice. If we were aware beforehand, we co uld have prepared o urselves and given o ur perspective. It happens all the time, and yo u’re left with ongo ing issues to deal with.”

Mr Lo we said the unexpected intro duction o f new laws and go vernment policies merely added to the uncertainty facing Bahamian businesses, who o ften had no time to react or give input on the consequences

and what they wo uld like to see.

This, he added, bred resentment in the private sector, as well as increasing the costs and o bstacles to the ‘ease o f do ing’ business.

Other signatories to the consultation ‘position paper’ are Citizens for a Better Bahamas, Save the Bays,We March, Rise Bahamas, We the People, Rise Bahamas and Civil Society Bahamas.

Matt Aubry, ORG’s executive director, told Tribune Business that he was expecting o fficial no tification to day as to whether the Bahamas Chamber o f Commerce and Employers Confederation (BCCEC) will add its formal backing.

He explained that the private sector organisation was reviewing the position paper, which had also received support from the Grand Bahama Chamber o f Commerce.

Mr Aubry added that “open go vernance has been sho wn across the world to benefit economies” o f co untries, giving them “a better sho t at true capitalism”.

The civil society position paper said the consultations and nego tiations o ver Value-Added Tax (VAT) prior

tensive infrastructure commitments that the next government will be bound by, the Christie administration has pledged to complete a waste treatment facility from the Water & Sewerage Corporation - also by December 31, 2017.

Both BPL and Water & Sewerage are taxpayerowned entities currently incurring multi-million dollar annual losses, which raises major questions as to how these upgrades will be paid for.

“It’s almost like we’re going to have to go cap in hand to the World Bank to borrow money to put this infrastructure in place,” the attorney told Tribune Business.

“This is absolutely terrible. We’ve now got to put in place the electricity capacity to satisfy a resort with 3,500 rooms. What happens in the summer months when that hotel is fully occupied? This is crazy.”

The attorney also questioned why the Heads of Agreement had not been tabled and discussed in Parliament prior to its dissolution, although the deal was only signed off on April 25 - four days after Baha Mar’s ‘soft opening’.

‘Heads of Agreement’ has often been employed by the Government of the day as a device to circumvent parliamentary scrutiny, and approval, of major investment deals.

Tribune Business’s attorney source also pointed

out that much remained unknown about the Baha Mar deal, given that the Heads of Terms between the Government and China Export-Import Bank for the construction completion remain sealed by Order of the Supreme Court.

Other key documents, such as the ‘asset transfer agreement’ for the sale of Baha Mar’s assets by the Deloitte & Touche receivers to the China ExportImport Bank’s Perfect Luck vehicle, have also not been disclosed.

The share purchase agreement (SPA) between Perfect Luck and CTFE for Baha Mar’s final sale has also remained confidential, as has the September 9, 2016, Hotels Encouragement Act agreement granted to Perfect Luck.

The latter agreement sets out the value and worth of investment incentives and tax breaks granted for Baha Mar’s construction completion, along with the items and equipment that will enjoy such concessions. Perfect Luck’s Hotels Encouragement Act agreement will be inherited by CTFE. Elsewhere, Baha Mar’s casino tax incentives appear designed to at least partly cover the initial operating losses incurred by the $4.2 billion development’s new owner.

The April 25 deal struck with the Christie administration states that the casino tax incentives are based on the developer incurring

“acquisition consideration, pre-opening expenditures and operating losses and capital spending of at least $2 billion”.

The Heads of Agreement also reveals that the Government has writtenoff $10.75 million in gaming taxes owed by Baha Mar’s previous developer, Sarkis Izmirlian, as a result of the former ownership structure’s liquidation.

The Government has also released CTFE from having to construct an additional 425 rooms, as Mr Izmirlian left the development at 3,025 rooms rather than the obligated 3,450.

Dr Hubert Minnis, the FNM leader, yesterday described CTFEs Heads of Agreement with CTFE as a “brazen theft of our country’s assets”, pointing to “hundreds of millions in waived VAT taxes”.

However, a Tribune Business comparison of the CTFE deal with Mr Izmirlian’s 2011 Heads of Agreement shows that the new one is heavily based on the former - the one approved by a Cabinet of which Dr Minnis was part of.

CTFE’s agreement has been altered to take account of Baha Mar’s recent history and circumstances, and the current atmosphere surrounding the project, as well as VAT - which did not exist in 2011.

The casino tax structure in CTFE’s agreement is exactly the same as Mr

Izmirlian’s, with $5 million to be deducted from Baha Mar’s annual license and monitoring fee, set at $100,000 per thousand square feet of casino floor, for a 21-year period.

And CTFE will also be entitled to a 50 per cent reduction of gaming tax revenue in excess of $20 million, for which the rate is set at 10 per cent.

CTFE has also been given the ability to apply for 300 work permits for senior management and technical positions, although this number is set to reduce to 200 after 18 months.

The latter number is the same as that granted to Mr Izmirlian.

On the marketing side, the Government has agreed to contribute $4 million per annum, for a total of $32 million, over an eight-year period towards CTFE’s Baha Mar marketing activities. Again, this is the same deal as Mr Izmirlian.

While the Government was said to have already committed $16 million for “co-operative marketing” of Baha Mar, it and CTFE have now each committed $10 million to “reintroduce to the marketplace” the resort and Cable Beach once the construction is largely complete.

That is less than the $20 million the Government and Mr Izmirlian each agreed to contribute.

to its January 1, 2015, introduction, sho wed what co uld be accomplished when the Go vernment allo wed legislative initiatives to be influenced positively.

Yet it added: “Despite a glo bal and regional mo vement to ward open and more inclusive go vernance, subsequent go vernmentso f the Bahamas have no t established a regular process, practice or culture o f seeking meaningful input from the public on legislation, policy, development and spending.

“We, as a gro up o f civil society and private industry organisations, feel that there is a significant opportunity to strengthen the democracy o f the Bahamas and impro ve the inclusiveness and effectivenesso fo ur policy-making by adopting a standardised, open process o f public consultation.”

The paper added that such a process wo uld make laws and policies more efficient and effective, maximising their benefits for Bahamians, and impro ving go vernment openness, transparency and acco untability.

“In many instances, public input came abo ut solely as a rushed reaction to go vernment decisions first heard on the floor o f Parliament,” the position paper said o f previo us consultation efforts.

“Often, there is little time

or opportunity pro vided to prepare and issue substantive feedback. In the sporadic instances where consultation has been so ught, there have been inconsistent practices regarding the structure, timing, scope and depth o f the process.

“This undermines the fundamental premise o f the Constitution o f the Bahamas, a so vereign democratic state working in the interest o f its people. Public input is recognised as a critical need in the future success o f the co untry. Even the Bahamas National Development Plan 2040 has put forth the o bjective that ‘ the Bahamas must promo te greater civic

engagement and education at all levels o f society to strengthen democracy’.”

The civil society gro ups are proposing that the Bahamas follo w standard UK practice, and Caribbean Parliamentary Association recommendations, by adopting a set three-phase consultation process.

The first stage wo uld involve the issuance o f a socalled ‘Green paper’, where the Go vernment wo uld set o ut its thinking on a proposed law and policy, while also detailing alternative options. This wo uld be distributed to all interested gro ups and the wider Bahamian public.

The ‘Green paper’ wo uld be follo wed by a three-six month review and public consultation, with the final stage involving the Go vernment issuing a so-called ‘ White paper’.

This wo uld be presented to the public prior to a Bill go ing to Parliament, and set o ut the results o f the public consultation, while also seeking any final feedback.

Mr Aubry said the civil society gro ups planned to present and discuss the position paper with their members, the general public and private sector, before engaging general election candidates and the Go vernment.

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PAGE 6, Tuesday, May 2, 2017

THE TRIBUNE

Pushing for victories, Trump shows disconnect with House GOP WASHINGTON (AP) — President Donald Trump could be on the verge of marking two significant legislative accomplishments at the start of his presidency.

Yet he’s displayed a curious disconnect with Republicans on Capitol Hill, raising questions about how deeply he is delving into the specifics of legislative sausagemaking.

In interviews and Tweets, Trump has been notably offtopic and off-message about the state of affairs in Congress.

His recent description of the health care bill suggested he was unfamiliar with how the bill addresses coverage for people with pre-existing conditions. Congressional leaders and White House aides have struggled to agree on the level of optimism and timing for a vote.

During tense budget negotiations last week, Trump was sounding off about issues — health care for miners and a finance package for Puerto Rico — that were not major points of contention in the deal, which came to together Sunday.

It all added up to a portrait of a president who, even while he’s eager for legislative victories, pays little attention to the nitty-gritty details that can make or break them on Capitol Hill.

The White House on Monday struggled to explain the president’s assertion that the health care bill guaranteed coverage for people pre-existing conditions.

“Pre-existing conditions are in the bill. And I mandate it. I said, ‘Has to be,’” Trump said Sunday on CBS News.

The legislation being considered by House Republicans, in fact, does not require such coverage. It would allow states to opt out of the requirement under certain circumstances — a concession that won over conservatives while alienating some moderates. Trump also asserted the bill allows insurance sales across states lines, something that’s not in the bill at all.

White House spokesman Sean Spicer said that ensuring “coverage of pre-existing conditions is at the core” of the effort to repeal and replace the law. “So that is something that he is ensured is in the current bill and we’ll continue to push for to make sure that coming out of the Senate and going to conference it’s there as well.”

The American Medical Association has said the Republican safeguards for patients with pre-existing conditions “may be illusory.”

Trump told Bloomberg News in an interview on

President Donald Trump is greeted by Vice President Mike Pence as he arrives to speak at the Pennsylvania Farm Show Complex and Expo Center in Harrisburg, Pa., Saturday, April, 29, 2017.

(AP Photo/Carolyn Kaster) Monday that the bill was “not in its final form right now” and predicted it would be “every bit as good on preexisting conditions as Obamacare.”

House Republican leaders are hopeful for a vote on the health care plan ahead of a weeklong recess next week.

But Spicer sought to tamp

down expectations on Monday, telling reporters that “we’re not there yet,” even though the administration is “getting closer and closer every day.”

Two White House officials said they expected a vote on the health care bill on Wednesday or Thursday, depending in part on the

timing of the budget vote.

The officials spoke on condition of anonymity to discuss internal deliberations.

White House chief of staff Reince Priebus has taken the lead in discussions with Congress on health care, traveling to Capitol Hill multiple times for discussions with leadership, as well

as lawmakers in both the conservative Freedom Caucus and moderate Tuesday Group.

Legislative director Marc Short and deputy chief of staff Rick Dearborn have also been active in the discussions, according to White House officials. Vice President Mike Pence was also selling the health care plan in Congress and was inviting senators and their spouses to the Naval Observatory for a dinner on Tuesday night.

How involved Trump will be in the discussions remains unclear. But he has been sending mixed signals in his recent dealings with lawmakers.

In an interview with The Associated Press late last month, Trump surprised members of his administration and congressional leaders when he declared he would be announcing his tax overhaul proposal within days.

Last week, as lawmakers on both sides were working to finalize the budget plan, Trump took to Twitter, accusing Democrats of bailing out Puerto Rico. “The Democrats want to shut government if we don’t bail out Puerto Rico and give billions to their insurance companies for OCare failure. NO!”

No shutdown: $1.1 trillion agreement shows Democrats’ clout WASHINGTON (AP) — Erasing the threat of a disruptive government shutdown, the White House and top lawmakers endorsed a $1.1 trillion spending bill Monday to carry the nation through September, an agreement underscoring that Democrats retain considerable clout in Donald Trump’s turbulent presidency.

Negotiators released the 1,665-page bill after Republicans dropped numerous demands on the environment, Obama-era financial regulations and abortion in marathon sessions over the weekend. The bill is

slated for a House vote on Wednesday, with a Senate vote ahead of a Friday midnight deadline.

“We thought we had the upper hand because a government shutdown would be on their shoulders, and we made that clear,” Senate Minority Leader Chuck Schumer, D-N.Y., said in an interview. “We knew that if we didn’t push things too far we could get a good deal that could make us happy and that’s what happened.”

Trump and the White House had made concessions last week when the president relented on his demand that the measure

include a $1.4 billion down payment for his proposed wall along the U.S.-Mexico border. Trump repeatedly insisted during the election campaign that Mexico would pay for the wall, a claim Mexican officials have vigorously rejected.

Congressional Republicans and Democrats ignored Trump’s proposal to cut billions of dollars from domestic programs.

Democrats boasted of money for foreign assistance and cash-strapped Puerto Rico while winning funding for favored programs like transit projects and grants for first respond-

ers. They also defied Trump on a bid to punish “sanctuary cities” and on immigration enforcement.

The White House and some top GOP allies declared victory anyway, citing billions of dollars more for the military. Trump won a $15 billion down payment on his request to strengthen the military, though that also fell short of what he requested.

Vice President Mike Pence told CBS News Monday that the administration “couldn’t be more pleased” and called the agreement it a “budget deal that’s a bipartisan win for the Ameri-

MARKET REPORT MONDAY, 1 MAY 2017

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

BISX ALL SHARE INDEX: CLOSE 1,884.30 | CHG -1.77 | %CHG -0.09 | YTD -53.91 | YTD% -2.78 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.56 4.70 0.12 6.76 8.50 6.10 10.60 15.27 2.72 1.60 6.00 10.00 11.00 9.30 6.90 12.01 11.00

52WK LOW 3.20 17.43 8.19 3.50 1.64 0.12 3.80 8.15 5.56 8.50 11.00 2.18 1.31 5.80 6.90 8.56 7.11 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 2.05 3.92 1.95 169.70 141.76 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 11.50 2.36 1.55 6.00 9.33 9.00 9.30 6.90 12.01 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 105.57 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.38 15.85 9.09 3.54 1.77 0.12 4.40 8.50 6.00 10.48 11.50 2.37 1.55 6.00 9.33 9.00 9.30 6.90 12.01 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 -0.10 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 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

108.57 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

3.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund

VOLUME

1,300

200

VOLUME

NAV 2.05 3.92 1.95 168.44 141.76 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 -146.7 14.0 14.0 23.3 104.5 23.2 19.4 20.0 17.9 9.4 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% 0.84% 4.46% 0.01% 3.70% 0.37% 2.61% 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 28-Feb-2017 28-Feb-2017 24-Feb-2017 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% 2.05% 3.53% 3.67% 3.44% 4.26% 2.53% 3.87% 4.00% 4.29% 0.00% 3.55% 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

can people.”

House Speaker Paul Ryan, R-Wis., praised the bill as well, saying it “acts on President Trump’s commitment to rebuild our military for the 21st century and bolster our nation’s border security to protect our homeland.”

Longstanding conservative resistance to big spending bills requires the party to seek Democratic votes to pass spending bills despite the Republican majorities both houses of Congress.

That made the party out of power a major player in the negotiations. The talks were also spurred by a strong Republican desire to complete unfinished business well into the fiscal year and move on to health care repeal and tax overhaul, both of which are iffy propositions.

“If nothing else, it does allow the president to have at least one major success this week, which is great,” said White House budget director Mick Mulvaney.

“He’s going to sign his first substantive piece of legislation this week, and it’s going

Senate Minority Leader Chuck Schumer, of N.Y., speaks to reporters during a news conference on Capitol Hill in Washington.

Schumer says the $1 trillion plan funding the government through September is a “good agreement for the American people, and takes the threat of a government shutdown off the table.” (AP Photo/Manuel Balce Ceneta) to make dramatic increases in funding to his priorities.”

Ryan’s office peppered reporters’ inboxes with news releases cheerleading for the bill and GOP-won provisions such as extending a private school vouchers program for students in Washington, D.C.’s troubled school system through 2019.

Democrats had sought additional spending for nondefense accounts to match Pentagon increases above spending caps set by a 2015 budget pact negotiated with former President Barack Obama. They were forced to settle for far less with domestic increases in the 1 percent range.

NOTICE

NOTICE is hereby given that CHERENE ALMONOR of Blue Berry Hill, 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 2nd day of May, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MOSES ALMONOR of Blue Berry Hill, 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 2nd day of May, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SHANNAN YATES of #13 Hunts Close off Fire Trail, 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 25th day of April, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

THE TRIBUNE

Tuesday, May 2, 2017, PAGE 7

Thousands rally in US for workers, immigrants, against Trump NEW YORK (AP) — Thousands of people from New England to the Midwest to the West Coast chanted, picketed and protested Monday as demonstrations raged against President Donald Trump’s immigration policies along with the traditional May Day marching in favor of labor.

Protesters flooded streets in Chicago.

At the White House gates, they demanded “Donald Trump has got to go!”

And they sparked at least four arrests after creating a human chain to block a county building in Oakland, California, where demonstrators demanded that county law enforcement refuse to collaborate with federal immigration agents.

In Portland, Oregon, some marchers began throwing things including smoke bombs at police, prompting them to pull the permit and cancel the march.

Police were urging all demonstrators to leave because of “numerous incidents of thrown projectiles, incendiary devices, and other unsafe conditions,”

though no injuries were reported.

Despite the West Coast clashes, most nationwide protests were peaceful as immigrants, union members and their allies staged a series of strikes, boycotts and marches to highlight the contributions of immigrants in the United States.

“It is sad to see that now being an immigrant is equivalent to almost being a criminal,” said Mary Quezada, a 58-year-old North Carolina woman who joined those marching on Washington.

She offered a pointed message to Trump: “Stop bullying immigrants.”

The demonstrations on May Day, celebrated as International Workers’ Day, follow similar actions worldwide in which protesters from the Philippines to Paris demanded better working conditions. But the widespread protests in the United States were aimed directly at the new Republican president, who has followed aggressive anti-immigrant rhetoric on the campaign trail with aggressive action in the White House.

Trump, in his first 100 days, has intensified immigration enforcement, including executive orders for a wall along the U.S.Mexico border and a ban on travelers from six predominantly Muslim countries.

The government has arrested thousands of immigrants in the country illegally and threatened to withhold funding from jurisdictions that limit cooperation between local and federal immigration authorities.

In Chicago, 28-yearold Brenda Burciaga was among thousands of people who marched through the streets to push back against the new administration.

“Everyone deserves dignity,” said Burciaga, whose mother is set to be deported after living in the U.S. for about 20 years. “I hope at least they listen. We are hardworking people.”

In cities large and small, the protests intensified throughout the day.

Teachers working without contracts opened the day by picketing outside schools in Philadelphia and Pittsburgh. Activists in Phoenix petitioned state legislators to support immigrant fami-

Demonstrators display placards and chant slogans during a May Day rally, yesterday, in Chelsea, Mass. Thousands of people chanted, picketed and marched on cities across America on Monday as May Day demonstrations raged against President Donald Trump’s immigration policies. (AP Photo/Steven Senne) lies.

In a Los Angeles park, several thousand people waved American flags and signs reading “love not hate.”

Selvin Martinez, an immigrant from Honduras with an American flag draped around his shoulders, took the day off from his job waxing casino floors to protest. “We hope to get to be respected as people, because we are not animals, we are human beings,” said Martinez, who moved to Los Angeles 14 years ago fleeing violence in his country.

The White House did not respond to requests for a response to the May Day demonstrations.

Several protesters, like 39-year-old Mario Quintero, outed themselves as being in the country illegally

to help make their point.

“I’m an undocumented immigrant, so I suffer in my own experience with my family,” said Quintero at a Lansing, Michigan, rally.

“That’s why I am here, to support not only myself but my entire community.”

In Miami, Alberto and Maribel Resendiz closed their juice bar, losing an estimated revenue of $3,000, to join a rally.

“This is the day where people can see how much we contribute,” said Alberto Resendiz, who previously worked as a migrant worker in fields as far away as Michigan. “This country will crumble down without us.”

He added, “We deserve a better treatment.”

In Providence, Rhode Island, about the same number of people gathered at

Burnside Park before a twohour protest that touched on deportation, profiling and wage theft.

More rallies are planned later Monday, including in Las Vegas and San Francisco.

While union members traditionally march on May 1 for workers’ rights around the world, the day has become a rallying point for immigrants in the U.S. since massive demonstrations were held on the date in 2006 against a proposed immigration enforcement bill.

In recent years, immigrant rights protests shrank as groups diverged and shifted their focus on voter registration and lobbying.

Larger crowds returned this year, prompted by Trump’s ascension to the presidency.

Christie rejects bill aimed at Trump’s taxes as a ‘stunt’

Republican presidential candidate Donald Trump, left, stands with New Jersey Gov. Chris Christie, right, at a campaign event in Lawrenceville, N.J. The current Democratic front-runner, Phil Murphy, who hopes to succeed Christie, has compared President Donald Trump’s administration to the rise of Nazis. (AP Photo/Mel Evans, File)

NOTICE EXL Funds Inc. (Voluntary Liquidation) Notice is hereby given that, in accordance with Section 138 (4) of The International Business Companies Act 2000 the abovenamed Company is in dissolution, which commenced on the 28th, day of April 2017.

The Liquidator is Dillon Dean of Nassau Bahamas.

Dillon Dean (Liquidator)

TRENTON, N.J. (AP) — Republican Gov. Chris Christie on Monday tore into Democrat-backed legislation aimed at getting President Donald Trump to release his tax returns, rejecting the measure as a “transparent political stunt masquerading as a bill” and instead calling on lawmakers to open themselves up to public disclosure requirements.

The bill would require presidential and vice presidential candidates to release their income tax returns to get on the ballot in New Jersey and would prohibit electors from voting for them if they didn’t comply. Christie has been Trump’s friend for about 15 years, is one of his highestprofile supporters and was hand-picked by the GOP president to lead a national

anti-opioid commission.

Christie said the Democrat-led Legislature pursued the bill “as a form of therapy to deal with their disbelief of the 2016 election results” and called the legislation unconstitutional.

“This transparent political stunt masquerading as a bill is politics at its worst,” Christie wrote in a conditional veto statement.

Democratic Assemblyman John McKeon, who sponsored the bill, denied the legislation was about Trump and instead said it focused on future elections.

In March, however, he had acknowledged that Trump inspired the measure. “(All) Gov. Christie can think about is his ally Donald Trump. Sad!” McKeon said Monday in a statement.

Christie also proposed

NOTICE FOSTER HILLS LTD. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, FOSTER HILLS LTD. is in dissolution as of April 26, 2017 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

CANAURA FINANCE LTD. Company No. 1562069 (In Voluntary Liquidation)

NOTICE TRANSFER INVEST & TRADE LTD. In Voluntary Liquidation

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that CANAURA FINANCE LTD. is in voluntary liquidation. The voluntary liquidation commenced on 21st April, 2017 and Dr. Bernhard Lorenz of Landstrasse 33, 9490 Vaduz, Principality of Liechtenstein, has been appointed as the Sole Liquidator.

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, TRANSFER INVEST & TRADE LTD. is in dissolution as of April 26, 2017

Dated this 24th day of April, 2017 Sgd. Dr. Bernhard Lorenz Voluntary Liquidator

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

amending the bill to eliminate the disclosure exemption for legislative records in the Open Records Act. He is sending back the bill to the Legislature for reconsideration.

“Although I have strong doubts that the Legislature has any real interest in promoting greater transparency, I am recommending changes to the bill that would fit the old saying ‘Doctor heal thyself,’” Christie wrote.

Records from the governor’s office may be disclosed under New Jersey’s Open Public Records Act, but they are sometimes redacted or requests for documents are withheld for a number of exemptions.

Tom Hester, a spokesman for Democratic Assembly Speaker Vincent Prieto, said there are no

plans to consider Christie’s proposal. A message left with the state Senate president’s office wasn’t immediately returned. Christie’s idea would need approval from both chambers to be enacted.

More than a dozen other states are considering similar legislation that goes back to Trump’s failure to release his income taxes, a practice that goes back decades for presidential candidates. Trump has so far refused and said he would release them when the Internal Revenue Service completes an audit.

Last week Treasury Secretary Steve Mnuchin said that Trump doesn’t plan to release the documents and that Americans already have “plenty of information” about his finances.

THE TRIBUNE

Tuesday, May 2, 2017, PAGE 9

b o dy an d min d

Lupus 242 marks fifth anniversary with full month of awareness activities Public asked to ‘POP’ at the polls on May 10 May is recognised as Lupus Awareness Month around the world. And here in the Bahamas the local support group Lupus 242 will host a series of events and activities to raise awareness. This is the fifth year the group is shining a spotlight on issues associated with lupus.

Lupus242 officially launched in April 2012 to provide information and support to lupus fighters and their loved ones.

Through monthly meetings and events, the non-profit organisation seeks to be a resource for newly diagnosed patients and for persons who have been living with the debilitating disease for years, if not decades.

The chronic, autoimmune disease affects an estimated 5.5 million persons worldwide. Studies show that lupus is caused by several factors including genetics, environment and hormonal imbalances in the body.

Lupus is often hard to diagnose with symptoms ranging from severe pain, fatigue and unexplained flare-ups impacting random parts of the body especially internal organs. There is no known cause for the disease and presently, statistics on the number of persons in

the Bahamas living with lupus are limited.

This month’s activities include the popular POP (Put On Purple) Fridays, where members of the public are encouraged to wear purple every Friday in the month in support of lupus fighters. To increase public participation and the level of awareness, Lupus 242 has partnered with telecommunications company Aliv for POP Fridays and other initiatives.

On Sunday, May 7, the group will worship together at Bahamas Harvest Church, in preparation for World Lupus Day on Wednesday May 10.

“An important date every year on our calendar is May 10, World Lupus Day, which is commemorated globally.

It’s a day when we stop to recognise the impact lupus has on lives here in the Bahamas,” said Shonalee Johnson, vice president and public relations officer of Lupus 242.

“And while we know that this year the date falls on the day of the Bahamas’ general elections, we are encouraging all Bahamians, especially persons who would like to dress in neutral colours while voting, to ‘POP’ at the polls – put on purple, vote, take pho-

The balloon release ceremony ‘Hope Floats’ will be held on May 20 in honour of Lupus 242 President Shanelle Brennen, who died two months ago. tos, post online using the hashtag #POPAtThePolls and tag our group!”

On Friday, May 12, Lupus 242 and Big Picture Paint & Sip Studio will hold a POP, Paint & Sip fundraising event, and then on Saturday, May 20, Bahamians will gather at the top of Fort Charlotte for Hope

Floats – a balloon release ceremony to remember those who have died from lupus.

This year, the event will be held in honour of Lupus 242 President Shanelle Brennen, who died of complications from the illness in March of this year.

A Lupus 242 Health Talk

with local rheumatologist Dr K Neil Parker is scheduled for Saturday, May 27, at the Harry C Moore Library at the University of the Bahamas. The month of activities will end with a presentation to the Rotary Club of Old Fort Bay. To support the cause, persons can attend events

and purchase Lupus242 T-shirts, wristbands or bumper stickers. Proceeds go towards local awareness initiatives and global research. For more information on the group and upcoming events, visit www. facebook.com/lupus242, email lupus242@outlook. com or call 525-9967.

Sleep for people with diabetes and other conditions

The national diabetes epidemic is our fifth leading cause of death for all ages. The problem has been well publicised, as have recommendations to counter it.

In people with diabetes, if they experience high blood glucose over a period of years, blood vessels can become damaged. This can lead to plaque forming in the blood vessels rendering them unable to deliver enough blood to neighboring cells.

Symptoms of poor circulation The diabetes support website diabetes.co.uk describes common symptoms of poor circulation: • Cold feet or hands • Numb feet or hands • Hair loss on your feet or legs • A pale blue colour on the skin of your legs (applies to lighter skinned people) • Dry or cracked skin, particularly of the feet • Brittle toe nails • Slow healing of wounds or sores • Erectile dysfunction Slow healing of wounds can be particularly problematic in people with diabetes. Speak to your doctor if a wound is not healing properly or if you have sustained any damage to your feet.

Improve blood circulation If you suffer with swollen legs or feet, adjusting your sleeping position so your legs are slightly elevated will reduce the swelling by aiding circulation. This may benefit people with diabetes, poor circulation or high blood pressure.

There are various ways to achieve this sleep position but the most practical solution is to invest in an adjustable base bed. You may immediately think of hospital beds but there are modern options for the home.

While it’s true that adjustable (or reclining) beds, provide medical benefits that help improve comfort and relieve pain, it’s not all they’re good for. This interesting furnishing also provides lifestyle benefits that upgrade relaxation and improve sleep.

Even if you’re healthy and think you don’t need an adjustable bed, you might be surprised by what modern options have to offer.​ And they don’t need to be an ugly addition to the home.

Ease back pain

Bettyjoe Cooper Back pain is a common and serious matter. Some 30 million people in the United States​suffer from back pain. It’s possible to get some relief by using pillows to get a good sleep position. With an adjustable bed, you have the freedom to control the position you’re in.

An adjustable bed is an advanced foundation that’s perfect for a memory foam or gel mattress, as it enhances their natural contouring actions to further enhance support and reduce pain.

For many symptoms of back pain, like compression and muscle tension, an adjustable bed can offer some relief since it allows the user to customise their position.

Certain adjustments work to reduce pressure on the back by distributing weight more evenly and allowing the spine to decompress.

Besides general back pain relief, elevating the upper body (and legs) can provide symptom relief for degenerative spondylolisthesis, osteoarthritis, and spinal stenosis.

However, on a flat mattress, especially non-contouring types like inner springs, pressure is concentrated on the hips and shoulders while the lower back is left unsupported. This serves to compound the tension from daytime activities, and can lead to less restful sleep and pain or stiffness upon waking.

Here are few ways adjustable beds aid with back pain: • The ‘zero gravity’ position Adjustable beds allow users to achieve a ‘zero gravity’, which proves ideal for back pain relief and circulation. In this neutral position, both the head and feet of the adjustable bed are slightly elevated, pressure is more evenly distributed across the length of the body, and tension on the lower

Adjustable beds can help with a number of health issues back is eased allowing the muscles to fully relax and decompress.

• Ergonomic relaxation Activities like reading, working, or watching television in bed are made more ergonomic on an adjustable base bed. Adding slight elevation to the knees can further improve comfort during waking activities, similar to relaxing in your favorite recliner.

• Support getting in and out of bed Many back pain injuries are also attributed to twisting and turning in a way that strains the spine or muscles. Adjustable beds make it safer to get in and out of bed, reducing risk of injury. Raise the head of the bed fully upright, sit on the edge of the bed, bring legs up, and gradually lower the head of the bed to lie down. To get out of bed, reverse the process.

• Reduce acid reflux symptoms Approximately ​20 per cent of the US population​has gastroesophageal reflux disease (GERD).

If you or your partner has GERD, an adjustable bed is a good way to get a better night’s sleep.

By sleeping with your head and body elevated, you’re allowing

gravity to work its magic by hindering the contents of your stomach from leaking into your esophagus, causing heartburn.

• Arthritis pain relief One in five US adults​suffer from arthritis. These people often experience painful inflammation and stiffness of the joints. If you have arthritis you can experience relief from your aching joints with an adjustable bed’s customisable support. By adjusting your position in bed, you can relieve pressure and properly support the joints that are causing you pain.

• Reduce snoring For many couples, snoring can be the bane of night time relaxation, even driving people to sleep apart for the sake of a decent sleep. One significant benefit of an adjustable bed is that they can help reduce snoring by using the remote control to elevate the position of their head slightly.

Snoring is usually caused by your tongue and soft tissues narrowing your airway, which happens when you’re sleeping flat.

Elevating your head improves airflow and reduces the vibrations that we know as s​noring​. When you snore due to congestion, el-

evation can also be helpful for supporting drainage and keeping sinuses clear.

• Sleep, eat, work, massage, repeat After a long day at work, nothing beats a relaxing massage.

Most mid-level and luxury bases include massage functions, often which can be customized depending on your needs.

Recline in your adjustable bed and enjoy a head or foot massage while you unwind. Control the intensity of the massage with your remote control and feel your body loosen up after a long day at work. For split bases, couples usually also have the benefit of personalised relaxation and massage options.

An adjustable bed can change the way you sleep, and we all know better rest has several benefits for the mind and body.

• Bettyjoe Cooper is a self-published author and the founder of Brand New Mattress Co, a retailer of bedding products located in the Hummingbird Plaza, Coral Harbour Road, Nassau. Call 698-4609 for more information.

PAGE 10, Tuesday, May 2, 2017

THE TRIBUNE

Violence, disempowerment and inequality

W

e have witnessed yet another act of awful violence against women captured on camera and then posted to social media without so much as a thought for what this says about the society we live in.

In many ways, the fact that people are emboldened to post violent images online and to share with thousands or millions of viewers – because we know that the images do not stop at the borders of the country, but spread out to all parts of the world in no time at all – represents society.

This is one of the realities of social media. It tells us that we are in part related to the problem.

As a group, society has demonstrated its acceptance and perpetuation of violence against women or gender-based violence.

We consume the videos, photos and recordings shared on social media.

The way society speaks about women alone shows how entrenched attitudes towards gender inequality are and how pervasive it is to feel that anyone would appreciate a little joke, as one shared in the House of Assembly ‘among peers’ at the expense of women.

Indeed, the sharing of little jokes and big videos is practically the same thing, as they both send the same message: we have no problem in condoning violence against women.

The sharing of a video taken by attackers of them sexually assaulting a woman speaks directly to this reality. Again, we argue that we can stand up in public and say anything. Leaders can behave however they wish and there shall be no repercussions from their behaviour. They can invoke violent behaviour in their followers through the words or the images they use to empower themselves. It is ironic and sad that a group of people who see themselves as the visionaries of a country must speak violence to disempower their adversaries.

This is a form of cultural violence that has been normalised.

When studies can demonstrate that school children share the same attitudes as their parents with regard to women and how women should be treated, and that violence should be used, especially if they come from a home where an occasional bit of violence is used to keep the women in line, indicates that this is a serious problem. It is a social problem, not just an individual problem.

This disturbing video, like all the other distressing acts of senseless violence occurring in our communities, begins somewhere else. These acts are not simply about violence. but are symptoms of a wider problem.

One problem are the massive inequalities inculcated in the culture of the country. However, the Bahamas is not alone in such inequalities. Many of the inequalities and attitudes evident today were inherited from the former powers who ruled the Commonwealth. Beyond that, we see the serious lack of appreciation for women’s worth. As much as we have national discourse about empowering women, politics always come first and women always seem to be less important than others or the butt of offcolour jokes.

These are the same kinds of jokes that focus on Blacks, Hispanics, Jewish people and Asians, but when we are in the presence of the jokester, the rejoinder is usually, ‘You’re different’. Sadly, all women count in the group of women, no matter if one is feminist, not feminist, young, old,

Dr Ian Bethell-Bennett black, white – all women suffer from violence against women and gender-based violence, even if it is not directly.

The video exposes expansive attitudes to women and their inequality, lack of worth, weakness, but it does so at a time when almost anything goes in the country. Leaders have opened the gates to verbal abuse of all people. Their abuse translates into more serious acts further down the road.

Interestingly, an exhibition has recently opened at Hillside House that exposes attitudes to women, and shows how even though women have gained ground towards more equal treatment, society continues to treat them differently.

A patriarchal, misogynist society encourages exploitation and disempowerment through attitudes towards women that disempower them and keep them hostage to not being good enough, not being skinny enough, not being pretty enough. Ironically, again, all of these superlatives are created by a ‘media’ out there that really does not value women, except for what it can make from them.

Sue Katz Lightbourn’s show ‘Exposed’ is very revelatory of the attitudes that keep women subjugated even with the message that feminism has removed all boundaries to women’s success and equality.

Meanwhile, women remain sexual objects whose body image depends on an ideal that really does not exist, and neither is it healthy for most women. This is a type of violence that is inflicted on women through constant media images of what they must look like.

Katz’s work is incredibly engaging as it is a combination of collage and assemblage, which means that there is a great deal of information. Some of the images are fun, others are darker, but all reveal messages of alterity and subtle control levied on women’s ability to be and their agency.

The show opened on April 13 to a packed house. The images vary from the from iconic Wonder Woman to other paraphernalia of ‘beauty’ and desirability that are brought together to create a powerfully thought provoking and enjoyable experience.

Katz’s work connects with the idea circulated through media that women belong to men and are always subject to male desire.

There are far more messages than that, but the reality of social control levied against women, as it does not make them powerful, rather renders them subject to the whims of media and a male gaze. One of the serious messages, aside from ‘Pink Survivor’ is the violence deployed against women.

Apparently, according to many especially in the Bahamas, women are a threat to male success. In reality though, successful women encourage more successful men. Women do not threaten masculinity, unless and until that masculinity is under threat or challenged by social powers

Artist Sue Katz explores the emotional baggage women carry around with them throughout their lives in her current show ‘Exposed’.

“A patriarchal, misogynist society encourages exploitation and disempowerment through attitudes towards women that disempower them and keep them hostage to not being good enough, not being skinny enough, not being pretty enough.” cloaked in goodness. Ironically, as far as women have come in the country, we have determined that they have gotten far enough and the empowerment of one speaks to the empowerment of all. This is another fallacy. Having one female representative is not the same as empowering women.

Violence

Violence is circulated daily as we encourage young men to dominate women. So many of the messages packaged by and delivered through media as Katz’s work shows are steeped in antifeminist, subordinating control that say that wearing high heels is liberating, to be sexy, much like Beyoncé is liberating, yet the performance Rihanna encourages is about being content with patriarchal control and living with violence: ‘I love the way you lie’, and I will let you beat me.

When these images circulate of masculinity that is empowered through violence against and domination of women, what else do we expect to occur?

When young men are apparently empowered by murdering and through the use of violence to exact their desires, what other result do we expect?

Much of popular culture boasts of the masculinity of men having their hoes and bitches who depend on them for their self-

realisation. Few are the popular images of young men determining their destiny without bling and hoes and bitches.

Yet we argue that women have arrived at full equality, but as a society, we refuse to allow them to pass on their citizenship to their children or their husbands, in particular instances. We tell people that women need to be beaten, to be controlled and to be sexually assaulted through daily messages in text, music, popular film, advertising and leadership lectures that tell you that in order to be a man you must not let a woman dominate you.

Do not let a woman earn more than you, at the same time, we render men ‘unmanly’ when they are educated. How does that work? An uneducated man cannot earn the same legally as an educated woman, who will still be paid less than her peer, but that man understands from our culture that he is entitled to earn more. If she earns more, he is weak.

The culture that consumes this also consumes the images sent out of violent assaults against women. The message is obvious: there is a serious social problem that is not crime but that sends out an APB with violent crime that says something is wrong.

We understand that something is wrong, but as long as leaders

benefit from the status quo, such as images of sexual control and exploitation of women sent over social media, these consolidate an image of subjugation and sick empowerment through subjugation, nothing will change. At the same time, we continue to blame the victims of rape, to blame mothers and daughters for being too sexy, yet every message deployed is that women must be sexy and sexualised to succeed.

If a woman is sexy and sexualised she has won the prize.

However, we do not help to protect her from the very people we encourage to devour and destroy her because to be sexually attractive is to be exploited somehow.

To be sexualised is to be a cutter, a hoe, a bitch and to be deeply dehumanised. And then we wonder why sexual violence and anti-female sentiment in this country is one of the highest in the region. The leaders who feign outrage over these acts, the same men who encourage women to be subordinated to men and then tell men they must rule and if she doesn’t listen, show her who is boss, are as responsible for the violence, inequality and exploitation as those actually performing the acts.

The society that tells men it is empowering to disempower women is as guilty as the actual assailant. We create the potential situation and sit back and watch it unfold then wonder why the youth are so violent.

Have we stopped to check our behaviour, our words? Violence against women is as varied and as pervasive as anti-Haitian sentiment. It is all wrong and all speaks to inequality.

Social media is dangerous, but it is no more dangerous than a child being taught how to beat women (hate Haitians, and hate gays), and that a woman must obey a man and be his plaything.

We simply use different language to sell this belief.

17th annual Kingdor ball deemed a success SOME 400 persons came out to support the Kingdor National Parkinson Foundation last Saturday by attending the non-profit’s 17th annual gala ball.

Held under theme “Keeping Hope Alive”, the black-tie fundraiser was hosted at the Meliá Nassau Beach Resort.

The ball served three different purposes. It was the commemoration of Parkinson’s Awareness Month, inclusive of educating and sensitising the populace regarding Parkinson’s disease; it honoured Leon Williams as the ‘Person Of The Year 2017’, and it also recognised five persons for their community-building efforts.

Those bestowed with the title of ‘Person of Substance and Style’ were Raymond Winder, John Ferguson, Candia Dames

and Arlene Nash-Ferguson.

In addition to enjoying a four-course meal prepared by world-renowned chefs, guests were also entertained by Grammy Award winner Jeffrey Osborne.

The “On the Wings of Love” singer, songwriter and lyricist wowed guests with beautiful love songs. He invited them to the dance floor, and an enthusiastic and joyful crowd responded.

The second musical performance of the evening was by the Bahamas’ very own Visage, led by Obie Pindling, who kept guests dancing past midnight.

The Kingdor National Parkinson Foundation said it wishes to sincerely thank its hard working members for their collective and individual roles in making this ball a success.

Grammy Award-winning artist Jeffrey Osborne is pictured with Mavis Darling-Hill, chairperson of the Kingdor National Parkinson Foundation, arriving at the Sir Lynden Pindling International Airport. Photo/Shawn Hanna

THE TRIBUNE

Tuesday, May 2, 2017, PAGE 11

Securities Commission of The Bahamas

3RD Floor, Charlotte House Shirley & Charlotte Streets P.O. Box N-8347 Nassau, The Bahamas

MEDIA RELEASE Contact: Executive Director Ms. Christina Rolle 242- 397-4100

FOR IMMEDIATE RELEASE: 28 April 2017

Securities Commission Reappointed to Chair Regional Securities Regulators Group

(l-r) Kalya Hilton, manager of Environent, Health and Safety at Sandals Royal Bahamian; Sonia Brown, president of the PACE Foundation; Kawanda Stuart from the executive office at Sandals; Jackie Knowles, head administrator at PACE; Heidi Clarke, director of programmes the Sandals Foundation; Lazar Delorenzo Charlton, public relations manager at Sandals.

PACE opens new centre for teen mothers CONTINUED education for teenage mothers has received another push, as Providing Access to Continued Education (PACE) officially opened the doors of its new centre on East Street to members of the public.

The beginnings of the PACE programme can be found in an initiative by the Ministry of Health which was led by community nurse and social counsellor Andrea Elizabeth Archer in 1969.

She introduced the Student Mother Clinic in 1970, which catered mostly to the needs of teenagers who had to stop their education due to unplanned pregnancy.

The Zonta Club of Nassau officially formed the PACE Foundation in 2004 to provide institutional strengthening to the programme created by the Student Mother Clinic and to see the provision of a purposebuilt facility.

Currently, PACE is the combined efforts of voluntary organisations and the government of the Bahamas with three ministries – the Ministry of Education, Science and Technlogy, the Ministry of Health, and

Facility now operational thanks to solid partnerships Ministry of Social Services – having responsibilities for education, health and social well-being of the teen mothers.

PACE’s mission is to inspire hope and inspiration to counter the occurrence of teenage pregnancies within the Bahamas. The teen mothers are given an opportunity to complete high school as well as to learn a skill. They are also mentored and guided in an effort to reduce incidences of repeat pregnancy.

Since the establishment of the PACE programme in 1969, more than 3,000 teenage mothers have been assisted and an additional 100 annually will continue to benefit from the services offered.

Over the years, many organisations have lent their support and made the work of PACE possible, including the Sandals Foundation, Coca-Cola, Rotary Club of East Nassau, First Caribbean, the Salvation Army, Kiwanis International, Scotia Bank, RBC, among others.

Sonia Brown, president of PACE, in her address at the opening ceremony said: “The tipping point for PACE was when Sandals Foundation came along to give us an extra push especially in fundraising towards the new building.”

Since 2012, the Sandals Foundation has contributed more than $300,000 through partnerships with Coca Cola and through multiple fundraising efforts. including the hosting of two ‘Vibes on the Island’ concerts.

Heidi Clarke, director of the Sandals Foundation, added: “These young ladies are at a point in their lives where they need a lot of support and the services offered at PACE not only ensure an opportunity for a brighter future for these teenage mothers, but also their children and generations to come. We look forward to continued partnerships to give all young people in the Caribbean an opportunity to succeed.”

Are you making informed decisions?

There is making a decision, and then there is making what many call an informed decision. The question is, what is it that informs your decisions?

It is my observation that informed decisions are not so much about the volume of information gathered, but more so about your capacity to examine and understand the information gathered. It is only through critical thinking skills that you can best decide what’s ‘right’ for you to do.

Irrational thinking is the leading cause of poor decision-making that may not serve our best interests.

There is a need to scrutinise the information that you are using to make your decisions. You cannot make an informed decision without being adequate informed.

This means being mindful of propaganda, because there is information and misinformation. It is your responsibility to be discriminate in the information ingested or rejected.

As the old adage goes, ‘All that glitters isn’t gold’.

To make an informed decision, you must engage in the process of analysing the pros and cons.

An informed decision maker is a position of power and authority. It ought not be taken casually, especially when those decisions have life-changing consequences.

Consider the onerous decisions like getting married, buying a home, becoming a parent or conforming to a certain religious philosophy. Such decisions have lasting influence on your life. It is therefore critical that you understand, in advance, the possible consequences of such decisions.

Whether it is clear to you

Michelle Miller Motivationals

Michelle M Miller or not, there is a consequence intertwined in every decision that you make or fail to make. A marriage, for example, is more than having a great wedding.

It has embedded consequences that require both parties to adjust in sharing their resources and making decisions as a couple henceforth.

Let me also say that a consequence is merely a result. It is not necessarily a negative. In fact, there are both beneficial and not so beneficial consequences in every decision that we make. Making an informed decision is all about understanding the information before you decide.

There is also the credibility factor. It is your responsibility to verify not only the source of the information but also the credibility of that source. If you are making decisions with information that lack credibility, your decisions may be vulnerable to an implosion.

Still, there those who are motivated to make their decisions on hearsay. Such information is often difficult to verify. This is why

hearsay’is typically not admissible in the court of law.

Of course, there is also the notion of emotional information, given in a way to sway people’s decisions. It is an old but very effective strategy. For this reason, you must take responsibility to do more than just get information, but also examine its credibility and veracity. This kind of critical thinking is a gift that you give to yourself in order to make an informed decision.

Fail to do so, and your decision making power may be hijacked by others.

Take the time to think critically about the details to make decisions that best serve your desired outcome.

Even though this process may sound as simple as pie, it is not. You must equip yourself with the right kind of skills and tools to think things through.

Leader to leader, do not allow yourself to fall prey to other people’s emotional agendas. Take the lead to analyse the information that comes your way before accepting it as the source of your decisions.

Quality decision-making is an essential life skill.

When you take the time to examine the information that you feed your mind to make your decisions, you are better equipped to live an empowered life. Yes, you definitely can do it.

What do you think?

Please send your comments to coaching242@yahoo.com or 429-6770.

• Michelle M Miller is a certified life coach, communication and leadership expert. Visit www. talktomichellemiller.com or call 1-888-620-7894; mail can be sent to PO Box CB-13060

Securities regulators from over 15 Caribbean jurisdictions selected the Securities Commission of The Bahamas (the Commission) to continue as the Chair and Secretariat of the Caribbean Group of Securities Regulators (CGSR) for the 2017 – 2019 period.

The announcement was made at the 13th Caribbean Group of Securities Regulators (CGSR) Conference and Workshop, co-hosted by the Commission and the Caribbean Regional Technical Assistance Centre (CARTAC). The Conference and Workshop was held 24 – 26 April at the British Colonial Hilton under the theme “Evolving Priorities for Effective Capital Market Supervision and Enhanced Financial Stability in the Caribbean”.

Minister of State for Finance, the Honourable Michael Halkitis, brought the keynote address at the conference’s opening ceremony.

Minister, Halkitis emphasized the jurisdiction’s commitment to compliance with international regulatory standards, particularly with respect to fostering a transparent financial services sector. Specifically, he cited, agreements such as the International Organisation of Securities Commission’s Multilateral Memorandum of Understanding as having created a global regulatory environment better equipped to detect and deter cross-border securities crime, supporting investor confidence in capital markets globally.

The conference and workshop included other notable speakers from local, regional and international organizations including: Paul Andrews, International Organisation of Securities Commissions (IOSCO) Secretary General; Trevor S. C. Alleyne, Assistant Director, Caribbean I Division, International Monetary Fund; Brian Langrin, Resident Advisor on Financial Stability, CARTAC; John Rolle, Governor, Central Bank of The Bahamas; Kathryn Edmundson, Executive Director, International Forum for Investor Education; Cecilia Melville, Monetary and Financial Policy, Economist, CARICOM Secretariat; Jerry Butler, Executive Director, Inter-American Development Bank.

The areas addressed were timely and included topics such as economic and financial stability in the Caribbean, threats to the financial system (and derisking) throughout the Caribbean, improving corporate governance practices in the securities market and an informative panel discussion addressing regulatory preparedness for financial technology (FinTech).

The Caribbean Group of Securities Regulators was established to create a forum for regional securities regulators to discuss issues facing Caribbean securities and financial markets.

The Commission has served as Chair and Secretariat of CGSR since 2015. ###

Editor’s Information: 1.

The Securities Commission of The Bahamas (“the Commission”) is a statutory body established in 1995 pursuant to the Securities Board Act, 1995. That Act has since been repealed and replaced by new legislation.

2.

The Commission’s mandate is now defined in the Securities Industry Act, 2011 (SIA, 2011).

3.

The Commission is responsible for the administration of the SIA, 2011 and the Investment Funds Act, 2003 (the IFA), which provides for the supervision and regulation of the activities of the investment funds, securities and capital markets.

4.

The Commission, having been appointed Inspector of Financial and Corporate Services effective 1 January 2008, is also responsible for administering the Financial and Corporate Service Providers Act, 2000.

5.

The functions of the Commission are to:

•

advise the Minister on all matters relating to the capital markets and its participants;

•

maintain surveillance over the capital markets and ensure orderly, fair and equitable dealings in securities;

•

foster timely, accurate, fair and efficient disclosure of information to the investing public and the capital markets;

•

protect the integrity of the capital markets against any abuses arising from financial crime, market misconduct and other unfair and improper practices;

•

•

promote an understanding by the public of the capital markets and its participants and the benefits, risks, and liabilities associated with investing; create and promote conditions that facilitate the orderly development of the capital markets;

•

and perform any other function conferred or imposed on it by securities laws or Parliament (SIA, 2011, s.12).

Honourable, Minister Halkitis, presenting to the Delegates and speakers attending the Caribbean Group of Securities Regulators (CGSR) 2017 Conference and Workshop hosted by the Securities Commission of The Bahamas (the Commission) on 24-26 April. The Commission is the Chair and Secretariat of CGSR for 2016-2017.

SECTION B

TUESDAY, MAY 2, 2017

Bahamian survivors celebrate their journeys through “Brushes with Cancer”

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

T

HE compelling stories of Bahamian cancer survivors Rika Cargill and Erin Brown will be told through the eyes of international artists as part of the upcoming ‘Brushes with Cancer’ initiative out of Chicago, Illinois.

Both survivors have never been shy sharing their experiences with others, so when approached about having an artist document their stories in a unique way, Rika and Erin both eagerly accepted.

Many people who battle cancer do so without anyone ever knowing. However, Rika and Erin believe that there is power in sharing, and that their strength to carry on has a lot to do with their courage to face cancer head-on from an open and honest place.

Now, by participating in this project, both survivors, who have already shared their personal journeys on social media over the years, will have an even greater reach.

‘Brushes with Cancer’ is spearheaded by Twist Out Cancer, an organisation founded in Chicago by Jenna Benn Shersher that provides psycho-social support to cancer survivors and their loved ones through creative arts programming.

Through ‘Brushes with Cancer’, the organisation helps to meet its mandate by creating unexpected intersections between artists and those touched by cancer.

The initiative strategically matches artists with those touched by cancer to create unique pieces of artwork reflective of their journey. Over a period of four months, 50 selected pairs of artists and survivors will connect in person, via Skype, on the phone or by e-mail. Their relationships are guided and supported by Twist Out Cancer volunteers with the intention of creating a support system for both the artist and the subject.

The programme finishes on a high note with a signature celebratory art exhibition, gala and auction where the artwork is revealed for the first time.

The launch event will take place in June, while the unveiling of artwork and gala take place in September.

This will not be the first time Rika and Erin have worked with artists. In fact, just recently Rika, who was diagnosed with stage 3 breast cancer in 2012, took part in a body painting session with local artist and photographer Monty Knowles.

The photos of Rika’s body painting session went viral and made their way onto several international blogs. That was when August Beddingfield, a representative from

Rika Cargill “I made a choice not to take this journey alone...What can I say, I’m a team player.”

‘Brushes with Cancer’, became aware of her story and reached out to her.

“I must say, I’ve picked up quite an amount of followers that have been inspired by my story,” Rika told Tribune Woman.

“Shout out to the Facebook family, especially Jessica Bond Maltalbano who made an effort to reach out to me after she read my posts and was positively impacted by my body painting that was done

by Monty Knowles. She told me about the event that is held every year and asked if I would like to be a part of this amazing journey and share my story internationally. That of course was a big yes from me.

But knowing the effects that cancer has in the Bahamas, I made a choice not to take this journey alone. I wanted to share it with someone else who has inspired me and has fought the fight as well. That person is none other than bone cancer survivor Erin Brown. What can I say, I’m a team player.”

Erin Brown “Fear doesn’t prevent death; it prevents life.”

Erin was diagnosed with osteosarcoma in April 2004. Her knee joint and thigh bone were affected and her muscles had been compromised.

Over the past 13 years, being an abovethe-knee amputee and a cancer survivor living in the Bahamas has made Erin’s life into “a reality show” at times. She was also recently dubbed a ‘CanceVivor’.

Her participation in ‘Brushes With Cancer’, she explained, is to honour the lives of those who have touched her life, and they include: Gennie Dean, Melissa Major, Ghia Butler, Paul Armbrister and Camika ‘Vee’ Nairn.

“These years have placed me on many highs and enormous lows, yet I am still here; loving life, bringing awareness and avenues for creative expression. I am a mother of two bright stars whose lives are tied into my survival, hence I am all in. My inspiration stems from society labels like ‘disable’, ‘cancer’, ‘mother’ and ‘women’. My purpose in this lifetime is

to redefine what happens when all of that collides. Being selected over thousands of entries worldwide for this coveted programme is definitely an honour,” she said.

Ultimately, Erin said she hopes people will feel encouraged and inspired to press on in their personal journeys.

“Fear doesn’t prevent death; it prevents life,” she said. “Dealing with cancer is a life-changing experience for not only you and your loved ones; your community at large feels the effect. Yes, I am vocal, active and bold in my purpose.

I am an advocate for differently-abled as a paratriathlete. And by no means is that everyone’s purpose, path or journey.

Knowing your presence is valued for whatever time is given is important. You are a piece of priceless ‘art’. Support a ‘CanceVivor’ whenever you can; share a smile, spend some time, uplift in prayers, offer job opportunities, invest in their kids and remind them life begins on the other side of fear,” she said.

Carlisa Belle, an economist with a creative calling The multifaceted Carlisa Belle, BBA 2013, crunches numbers by day and pens words of hope and inspiration by night. She’s creative and cerebral at the same time; able to use her time and talents to encourage others.

As a proud alumna, Carlisa reflected fondly on her time at University of the Bahamas (UB), where she pursued a Bachelors of Business Administration in Economics and Finance. She was an active member of the Student Christian Movement and a New Student Orientation guide.

While at UB, real world experiences opened several doors for her within the finan-

cial arena.

“I had the chance to attend very informative lectures including one that still resonates with me, it was the Economics of Liberty Student Lecture Series. Thanks to UB in 2013, upon completing the Association of International Banks and Trusts Companies (AIBT) summer internship programme I was offered a permanent position, securing full-time employment before graduation,” she said. “I’m very grateful for the experiences and skills gained while there which I currently use on the job.”

Ms Belle currently works at the Central Bank of the Baha-

mas as a senior payments assistant in the research department. Additionally, she is an active member of Epic Church Bahamas and community activist.

“Writing a poetry book was a dream of mine since the ninth grade. I decided to pen my struggles and thoughts as a way to encourage others, especially young people,” she said.

She recently published her first book, ‘When My Heart Speaks’, a collection of poetry inspired by her life. The common thread of the introspective paperback is God. For Ms Belle, her faith and hope in God continues to carry her through life’s most challeng-

ing moments.

“No matter how dark the situation, one can always find hope. I want the persons reading it to be encouraged, knowing they can overcome whatever life throws at them,” she said.

As a dancer and actress, she uses the arts to express herself.

“Whether it is dance, poetry written, spoken word, drama or music, they all can be used to spread a message of love and unity,” she said.

Ms Belle strives to demonstrate how freedom and joy is unleashed when people let go of the past, find purpose and pursue their dreams.