08292024 BUSINESS

THURSDAY, AUGUST 29, 2024

Crumbling bridge threat to $18m GB resort sale

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE $18m sale of a Grand Bahama resort is threatened by the “dilapidated and dangerous” bridge that represents the sole transport link to “mainland” Freeport for itself and multiple other businesses.

Attorneys for Taino Beach Resort and its affiliated property, the Flamingo Bay Hotel and Marina, warned Ian Rolle, the Grand Bahama Port Authority’s (GBPA) president, in an August 14, 2024, letter that failure to properly maintain the crumbling Taino Bridge could spark legal action especially if “a collapse of closure” of this vital transport connection occurs.

Terence Gape, senior partner at Dupuch & Turnquest, in a document seen by Tribune Business warned that the bridge’s condition “represents a major threat to all residents and income earners” based on Taino Beach Island as well as potentially endangering the investments made by his client and other developers.

He argued that “the general opinion” is that the bridge’s deterioration is now so severe that a rebuild, rather than just merely repairs, is required especially given the seeming failure to resolve the key infrastructure asset’s state earlier.

The letter urged the GBPA and its affiliates, namely the Grand Bahama

Development Company (DevCO) and Lucaya Service Company (LUSCO), to release a survey and engineer’s report alongside their plans to rebuild the bridge within the next 30 days. Mr Gape said developing an infrastructure asset to match “the salubrious nature” of the area would ease “the anxiety of investors and residents alike”.

And he also warned that Taino Beach Resort’s owner was exposed to a potentially “enormous” loss if the proposed purchaser were to cancel or withdraw from the deal due to concerns over Taino Bridge’s condition and the uncertainty surrounding plans to address this.

Water Corp tells Eleuthera’s residents: ‘We feel your pain’

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A SENIOR Water & Sewerage Corporation executive yesterday told south Eleuthera residents that “we feel your pain” over supply disruptions that have been blamed on electricity “irregularities”.

Cyprian Gibson, the state-owned utility’s deputy general manager for New Providence operations, subsequently told Tribune Business that the Corporation will today ship a “new back-up generator” to replace the existing one that burnt out due to overuse at the reverse osmosis plant that serves communities such as Rock Sound and Tarpum Bay.

Pintard: ‘Change coming’ over banking regulation

By FAY SIMMONS Tribune Business

THE Opposition’s leader yesterday pronounced himself satisfied that “change is certainly coming” to Bahamian commercial banking following his meeting with the Central Bank governor.

Michael Pintard, speaking after his encounter with John Rolle to discuss possible financial sector reforms, said the industry regulator is working on a number of regulatory reforms. He added that he

is “encouraged” that the Central Bank’s views align with the banking reforms that he and the FNM previously suggested.

“He laid out the range of things that they are working on. A number of those things coincide with the position that we have taken,” said Mr Pintard of Mr Rolle.

“So, we are not disabused of any of the views. We are not dissuaded from any of the views that we have. In fact, we are encouraged that we are on the right track in

Customs chief: Morale can’t be low with revenue up 33%

By ANNELIA NIXON anixon@tribunemedia.net

CUSTOMS’ top official yesterday dismissed internal criticisms of his leadership, and allegations of low Department morale, by pointing to the 33 percent increase in revenues collected over the past three years.

Ralph Munroe, marking his tenth month as Customs comptroller, in an interview rejected the concerns voiced to Tribune Business by various officers while asserting that the Department would not have enjoyed the revenue collection success it has seen without motivated staff.

“We’ve been able, in the last three years, to move our revenue from around $976m,” he explained. “Year before last, basically the fiscal period, I think, is 2022-2023, we did $1.18bn. For 2023-2024, we close to

‘No

$1.3bn. We were able to put some things in place. Clearly, the office of the comptroller and the executive didn’t do it alone.

“It means the staff would produce it and, if the morale was that low, then explain to me how we are basically $400m above where we were just two-and-a-half years ago. So $976m up to basically $1.3bn. Can’t be low

secret’ Customs

short staffed amid grievances

By ANNELIA NIXON anixon@tribunemedia.net

CUSTOMS’ top official yesterday said it is “no secret” that the agency is short-staffed amid officer concerns over promotions, replacements, delayed overtime payments and transportation fees.

Ralph Munroe responded in a Tribune Business interview to a variety of grievances that were recently aired over the Department at a Bahamas Customs, Immigration and Allied Workers Union meeting.

Deron Brooks, the union’s president, alleged it had tried on multiple occasions to meet with Mr Munroe but to no avail. Eventually, it met with representatives from the Ministry of Finance instead.

“In the earlier part of the month of May, the union had made a request to the director of Immigration, the office of the director of Immigration and the office of the Comptroller of Customs,” he asserted.

“Since then, the union was able to meet with the

RALPH MUNROE

Customer interaction is now Augmented Reality

In the rapidly evolving world of technology, Augmented Reality (AR) has emerged as a revolutionary tool, transforming the landscape of marketing and sales. No longer just a futuristic concept, AR is now a mainstream technology, offering brands an innovative way to engage with customers, enhance their shopping experience and drive sales. As businesses continue to seek novel ways to stand out in a crowded market, AR is proving to be a powerful ally by blending the physical and digital worlds to create immersive experiences that resonate with today’s tech-savvy consumers. At its core, AR overlays digital information - such as images, sounds or text - on to the real world, as seen through a device such as a smart phone or AR glasses. This seamless blend of the physical and digital realms offers consumers a more interactive and engaging experience compared to traditional marketing methods.

For instance, imagine walking past a clothing store and using your phone to virtually ‘try on’ outfits without stepping inside. Or consider browsing through a furniture store’s website and being able to see how a couch would look in your living room by simply pointing your phone at the space. These experiences, made possible by AR, not only capture consumer interest but also empower them to make more informed purchasing decisions, leading to higher satisfaction and reduced return rates.

AR’s ability to enhance the customer journey is perhaps its most significant contribution to the marketing and sales sectors. It turns the shopping experience from a passive activity into an interactive adventure. Customers can visualise products in their own environment, customise options in real time, and even receive instant feedback or recommendations based on their preferences. Brands such as IKEA, Sephora and L’Oréal have already tapped into AR’s potential. IKEA’s AR app allows customers to see how furniture items will fit and look in their homes before purchasing, reducing the guesswork and increasing buyer confidence. Sephora’s Virtual Artist app enables users to try on make-up virtually, experimenting with different looks without the need for physical samples. L’Oréal has taken it a step further by integrating AR into its social media campaigns, allowing users to try on beauty products directly from their Instagram or Snapchat accounts.

The use of AR in sales is not just about enhancing the customer experience; it also has a direct impact on conversion rates. According to recent studies, products that use AR experiences are more likely to be purchased than those that do not. This is because AR provides customers with a better understanding of the product, reducing the uncertainties that often lead to abandoned shopping carts. Moreover, AR-driven marketing campaigns often generate higher levels of customer engagement. Consumers are more likely to spend time interacting with AR content, which in turn increases brand awareness and loyalty. The novelty of AR experiences also makes them more shareable on social media, further amplifying the brand’s reach.

Despite its numerous advantages, AR in marketing and sales is not without challenges. Developing high-quality AR experiences requires significant investment in both technology and creative talent. Additionally, not all

consumers have access to the devices needed to fully engage with AR content, though this is changing rapidly as AR becomes more integrated into everyday smart phones. However, the future of AR in marketing looks promising. As technology continues to advance, AR experiences will become more accessible, more sophisticated and more ingrained in our daily lives.

Businesses that embrace AR early will likely see the greatest benefits, positioning themselves as innovators in their industry and offering customers a level of engagement that sets them apart from the competition.

The rise of Augmented Reality in marketing and sales is more than just a trend; it represents a fundamental shift in how brands interact with consumers. By offering immersive, interactive and personalised experiences, AR is transforming the customer journey, driving sales and setting a new standard for marketing excellence. As we look to the future, one

thing is clear: AR is here to stay, and its influence on the world of marketing and sales is only just beginning. In this dynamic landscape, those who adapt and innovate with AR will not only meet the expectations of today’s consumers but will also shape the future of customer engagement. Whether you are a marketer, a retailer or a consumer, the age of Augmented Reality offers exciting possibilities - and it is time to embrace them.

Royal Caribbean hires local consultant in PI Beach Club

A BAHAMIAN con-

sultant has been hired to ensure Royal Caribbean lives up to its environmental commitments during the construction and operation of its Paradise Island beach club. The cruise line, in a statement issued yesterday, disclosed that SEV Consulting Group will provide “local independent environmental monitoring” for the 17-acre project that is due to open in late 2025 on Paradise Island’s western end in the Colonial Beach area.

“Protecting and preserving the natural resources of Paradise Island is a key part of how the beauty and spirit of The Bahamas will shine at Royal Beach Club Paradise Island,” said Philip Simon, president and general manager of Royal Beach Club and Royal Caribbean International Bahamas.

“Nature painted a perfect canvas on the island. That canvas changed with time after it was abandoned over many years by previous homeowners. While there is some work to be done and a

process to go through, that beauty will be restored.

“Many structures and invasive species were left behind, and with SEV Consulting Group’s partnership to see through the demolition, construction and operation, the western end of Paradise Island will be a welcome crown in the heart of the harbour once again.” SEV, which has been involved in several projects throughout The Bahamas since 2007, is currently monitoring the demolition and government-required removal of more than 1,600

non-native plants and trees in order to restore the native habitat on Paradise Island.

Leading up to the 2025 opening, SEV and Royal Caribbean will continue their oversight into the reconstruction phase of the project, which will focus on small-scale buildings, pools, lounge areas, and limited back-of-house operations facilities and docks.

The firm will also ensure compliance with Royal Caribbean’s Environmental Impact Assessment (EIA) and the Environmental

Management Plan (EMP) for the beach club. These documents are mandatory for all industrial, commercial and residential developments throughout The Bahamas to help identify potential negative impacts and outline measures to eliminate or minimise them.

“We are pleased to work on this project to protect and promote the island’s natural beauty,” said Stacey Moultrie, SEV Consulting Group’s vice-president of environmental policy and planning. “Our job as the environmental monitor is to ensure that the teams for construction and operations implement the measures outlined in the Environmental Management Plan and follow the environmental laws of The Bahamas.

“This includes protecting marine turtle nesting sites and removing invasive species.” SEV is currently making regular visits to monitor the site and conduct inspections with Royal

Caribbean, during which it can direct corrective actions and pause work if necessary. The information gathered is submitted as monthly reports to the Department of Environmental Planning and Protection (DEPP).

During construction, Royal Caribbean said it will have SEV monitors on-site full-time. SEV is working with Stacy Lubin, an environmental conservation specialist who is now Royal Caribbean’s director of environment and sustainability for The Bahamas.

Ms Lubin is also closely working with the DEPP to ensure all practices align with the Royal Beach Club’s environmental plan and Royal Caribbean’s six key commitments - zero waste-to-landfill, renewable energy, no dredging and no overwater cabanas, wastewater treatment, protecting and enhancing the surrounding habitats, and environmental monitoring.

THE Bahamas Development Bank (BDB) recently teamed with UN Women to host 70 ladies to a Women in Business Empowerment Retreat.

The institution, in a statement, said the event was part of its commitment to fostering economic empowerment and gender equality. It was designed to equip participants with the tools and insights necessary to

break boundaries, elevate their careers and connect with a powerful network of like-minded women.

The retreat featured a session led by entrepreneur Ibukun Awosika, who gave advice on achieving success in both personal and professional spheres. It also involved networking opportunities designed to create a

BDB and UN Women Host Retreat for Women in Business.

Pintard seeks owner meeting over GB Power rate increase

By FAY SIMMONS Tribune Business Reporter

THE Opposition’s leader yesterday said he will seek to meet with Grand Bahama Power Company’s Canadian owner after its executives declined to meet over the proposed 6.3 percent base rate increase.

Michael Pintard, speaking at a Free National Movement (FNM) press conference, said Grand Bahama’s electricity supplier had replied they are “not prepared to meet at this time” to discuss its 2024-2027 tariff proposal which has yet to be approved by the Grand Bahama Port Authority (GBPA) as regulator.

As a result, the FNM leader said he will now seek to meet with Canadian energy giant, Emera, which is GB Power’s 100 percent owner and ultimate parent company. And he promised to prepare a “substantial amount” of Grand Bahama residents, from both political sides, to meet with the Utilities Regulation and Competition Authority (URCA) and the GBPA amid the ongoing dispute over who regulates GB Power.

“We reached out to the power company seeking a meeting, and if I remember correctly, just yesterday, they indicated they are not prepared to meet at this time,” said Mr Pintard.

“We’ve given them an opportunity. We will now speak to their parent company. And then we’ll take Grand Bahamians of all political stripes, not just to them, but to URCA, to the GBPA, all of those who represent themselves as the regulator. We’ll go and have a conversation with them, and we’ll do so with a substantial amount of residents

from Freeport and Grand Bahama.”

Mr Pintard maintained that the Free National Movement (FNM) does not support the proposed base rate increase and has made that clear since it was initially requested. However, Dave McGregor, GB Power’s president, previously told Tribune Business that three-quarters of customers will actually see a decline in their overall light bill despite the 6.3 percent base rate rise.

This, he asserted, is achievable because reductions in the fuel charge component of electricity bills will “offset” the proposed base rate hike for most should the proposal be approved. However, few residents and businesses trust this scenario will actually materialise.

Explaining the rationale for the increase, which was submitted to the GBPA on August 1, 2024, in accordance with GB Power’s regulatory obligations, Mr McGregor said the extra revenues generated by the rate hike will help to finance a 67 percent jump in GB Power’s annual capital investments to $20m per year between 2025-2027.

The extra investment, Mr McGregor told this

newspaper, would facilitate the increased integration of renewable energy into GB Power’s grid through the deployment of a batter energy storage system (BESS) that is expected to be installed and operational by 2026.

Asserting that the utility has “tightened the belt as best we can”, he said this had enabled it to apply for a base rate increase one full percentage below the 7.3 percent inflation suffered by The Bahamas over the past three years covered by its present tariff structure.

Disclosing that GB Power had lost 5 percent of its total demand in January 2024 with the closure of PharmaChem Technologies pharmaceutical plant, while the total electricity load consumed by the island’s major industrial customers has “under-performed”, Mr McGregor also voiced optimism that the utility is “out of the woods” after resolving the outages that plagued early summer. However, GB Power’s rate application has

renewed the battle over whether URCA or the GBPA is the utility’s regulator. And it has further intensified the ongoing conflict between the Government and the GBPA over the former’s demand that the latter pay it $357m to compensate for expenditure incurred in Freeport, over and above the city’s tax revenues, between 2018 and 2022.

GB Power’s challenge to URCA’s regulatory authority in Freeport still remains before the Supreme Court after some eight years.

GB Power initially sought an injunction to prevent URCA “from regulating, or seeking to exercise licensing and regulatory authority” over it. GB Power’s action is founded on the basis that, as a GBPA licensee, it is licensed and regulated by the latter via the Hawksbill Creek Agreement - and not by URCA and the Electricity Act 2015.

It is arguing that the previous Electricity Act’s sections 44-46, which gave URCA the legal right to licence and oversee energy providers, “are inconsistent, and conflict with, the rights and privileges vested in [GB Power] and the Port Authority” by the Hawksbill Creek Agreement.

GB Power’s statement of claim argues that itself and the GBPA “have been vested with the sole authority to operate utilities”, including electricity generation and transmission and distribution, within the Port area until the Hawksbill Creek’s expiration in 2054. Cable Bahamas, too, also has a separate legal action contesting URCA’s

jurisdiction and authority to regulate its Freeport subsidiary.

However, the new Electricity Act 2024, which treats Grand Bahama as a Family Island, makes the Grand Bahama Power Company the “approving authority” for anyone submitting a proposal to supply electricity to the public on the island.

The Act states that any approvals by such an “authority” must also be given the go-ahead by URCA, and this has been interpreted as a neat way of circumventing the GBPA’s utilities regulatory authority in Freeport and transferring it to URCA via GB Power Company. Thus the stage for a major regulatory and legal clash has been set.

Mr Pintard has argued that GB Power should not consider a rate increase while residents face “inconsistent” electricity supply and damage to appliances from power surges. He has urged the utility to be more responsive to these issues, and also called for it to disclose how much was collected from the surcharge implemented after Hurricane Dorian and how much was recovered from insurance for storm damages. He has also criticised URCA for not being a “robust and strong” regulator, and emphasised the need for a stronger independent body that cannot be swayed by the Government.

Crumbling bridge threat to $18m GB resort sale

Alluding to the potential consequences for the resort and Flamingo Bay Hotel & Marina, Mr Gape wrote:

“The Taino Beach Resort is comprised of 157 timeshare units and 66 hotel units with a Bahamian staff of up to 100 persons, which can have as many as 500 tourists and timeshare owners on site at an given time......

“Our clients are particularly concerned that, should the bridge collapse or become impassable, particularly within the next six to nine months, the economic feasibility of this pending sale and, indeed, the business of the resort and livelihood of the resort’s employees and the enjoyment of the resort by tourists and timeshare owners will be materially and negatively affected.

“Indeed, depending on the nature and extent of the collapse and closure, the sale of the resort itself may be in jeopardy and cancelled, and our client’s loss will be enormous,” the Dupuch & Turnquest senior partner wrote.

“As the Taino Bridge stands, it represents a major threat to all residents and income earners on Taino, and represents generally a threat to their investments and/or employment and constitutes a public nuisance as a major cause of anxiety to the population for which we believe you and/or your subsidiary

companies [DevCO and LUSCO] are and/or would be liable.”

Arguing that “this failure to maintain Taino Bridge could also be said to be an act of negligence”, Mr Gape served notice that his resort client and others impacted may initiate legal action against the GBPA and its affiliates for damages “should a collapse or closure of the bridge” occur or become necessary.

“We recommend that a proper survey and engineer’s report of the condition of the bridge be laid before or be made available to our clients or any other party with a vested interest within the next 30 days to include your plan to rebuild or reconstruct the Taino Bridge to the best engineering standard within a reasonable timeframe,”

Mr Gape added, “making it safe and reliable to a design and quality in keeping with the salubrious nature of the Taino Beach and Bell Channel and Fortune Bay canal areas.

“Such an action by you would alleviate the anxiety of investors and residents alike, especially those that rely on the daily tourist trade.” Mr Gape declined to comment when contacted by Tribune Business yesterday other than to voice surprise that this newspaper had obtained a copy of his letter to Freeport’s quasi-governmental authority.

Tribune Business also sought to obtain comment, and an update on the Taino Bridge’s status, repair plans and timelines from the GBPA and its affiliates. A GBPA spokesperson confirmed that repair work is being carried out to the bridge’s “underside” and said they would contact Charisse Brown, DevCO’s chief executive and legal counsel, to see if the company would comment. However, no response was received before press time last night. The letter and Taino Beach Resort’s concerns, though, are likely to be seized upon by the Davis administration and used as ammunition to support its charges that the GBPA is failing to live up to its Hawksbill Creek Agreement obligations to maintain and develop Freeport by ensuring the upkeep of critical infrastructure.

Both the Prime Minister and Fred Mitchell, the PLP’s chairman and minister of foreign affairs who has championed the Government’s hardline stance over the GBPA, will likely use it as confirmation of their accusation that Freeport’s quasi-governmental authority and its owners, the Hayward and St George families, are either unable or unwilling to invest what is necessary to maintain the city.

The Government is currently locked in a dispute over its demand that the GBPA reimburse it $357m

for expenditure incurred in Freeport, over and above tax revenues generated by the city, between 2018-2022. The battle is now heading for arbitration proceedings.

DevCO is 50 percent owned by Hong King conglomerate Hutchison Whampoa, which has Board and management control, with the GBPA holding the remaining 50 percent via its Port Group Ltd affiliate. But, ever since Mr Gape’s letter was delivered to the GBPA, the latter’s affiliates appear to have sprung into action.

LUSCO, in a notice issued on August 20, 2024, warned boaters that the “water passage” beneath Taino Bridge was closed due to the need to effect repairs. “LUSCO advises operators of marine vessels of all types that, as a preventative measure and safety precaution, the Taino Bridge water passage is closed due to repairs required to the Taino Beach Bridge,” it added.

“Mariners in the Fortune Bay area may exit the Fortune Bay canal entrance and navigate along the southern shore of the island to the Bell Channel Bay entrance and vice versa until the repairs are completed.” Research by Tribune Business shows that LUSCO was aware of Taino Bridge’s growing problems more than one year ago.

“An initial assessment was conducted by the

Building and Development Services Department (BDS) of the Grand Bahama Port Authority and, out of an abundance of caution, the western half of the bridge will be closed to swiftly facilitate the necessary repairs,” it said in an August 24, 2023, statement.

“The eastern half of the bridge will be converted to a dual carriageway to allow the public to safely traverse while we immediately begin the remediation process.

We have already conducted the initial inspection. An independent engineering firm will be engaged within two weeks to prepare the scope of work, design and finalise the repair plan and timeline.

“We anticipate that repairs will commence within four to six weeks with the duration to be determined pending the scope of the work.” LUSCO said then that it had been in communication with all key stakeholders over its plans and the need for repairs.

The bridge represents the only transport link to attractions and businesses such as Smith’s Point Fish Fry, Pirate Cove Zip Line and Water Park, the Dolphin Experience, Stoned Crab Restaurant and Tony Macaroni’s Conch Experience. However, repair progress has been slow.

Charisse Brown, DevCO’s chief executive and legal counsel, was quoted in May 2024 as saying: “The bidding process to select

Pintard: ‘Change coming’ over banking regulation

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terms of what we have been proposing to the public, and what we have heard from the public is overwhelming support for the position that we are taking.”

Mr Pintard said he now plans to meet with the Clearing Banks Association, the body that represents all licensed Bahamian commercial banks, to discuss reforms and is “confident” changes to the banking sector are underway. “I think change is certainly coming,” he added.

“The Governor of the Central Bank and his team, the efforts they are making right now, we believe will pay dividends. We were confident of that.” Mr Pintard added that Parliament will also assist by passing legislation to create a financial ombudsman so that Bahamians will have

a dedicated person to lodge complaints with over alleged mistreatment, maladministration and shoddy customer service.

“In Parliament, we’ll make a difference, because [of] the legislation that will be brought on the ombudsman, who is focused on financial affairs,” said Mr Pintard. “That ombudsman, once that position is codified in law, because the position presently is held by somebody who serves on a voluntary basis, will make a difference. You will have someone you can complain to in very specific ways about problems you’re having. And we believe that there will be remedies.”

The FNM leader said these efforts will be assisted by the Clearing Banks Association, which can offer suggestions to guide policymakers as they implement legislative changes.

“We also believe that there are members of the Clearing Banks Association who similarly, while they’re concerned about their shareholders and making profits, we think are also concerned about Bahamians and their welfare, and we believe they will contribute ideas and they will guide us policymakers as well, so we can make sensible decisions,” he said.

Mr Pintard added that the Government is profiting from the increase in bank fees, and suggested a portion of the revenue rise should be used to invest in entrepreneurs so they can expand their businesses.

“The Government itself is earning funds from the fees Bahamians are paying, said Mr Pintard. “We’re going to take a look at the amount that government earns and to figure out if there’s some portion of that that can be invested in

entrepreneurship so that commercial banks would take greater risk with micro and small businesses, so they can become medium and large business that can add to the banks’ profit as well as their own.”

The renewed controversy over commercial bank fees was sparked by CIBC Bahamas announcing it will be increasing its charges from September 1. Mr Pintard pledged that an FNM administration if elected would ensure bank fees are transparent and fair, “not simply ‘junk fees’ with no justification”.

He said his party would increase the reach and powers of the Central Bank’s office of the ombudsman, ensuring people are aware it exists and that complaints against banks are handled effectively, and would support qualified Bahamians seeking licences

a contractor for the project is currently underway, with the selection expected in June. We reassure residents that the bridge’s condition, particularly the underside, is monitored by a contracted structural engineering firm to prevent further deterioration.”

However, Mr Gape reiterated in his letter to the GBPA: “The Taino Bridge represents the only link to and from the ‘mainland’ for the hundreds of private homes, condominiums and the public and private restaurants serving the Taino Beach island which includes the original settlement of Smith’s Point.

“It is acknowledged that the Taino Bridge is, and has been for some years, in a tenuous, dilapidated and dangerous condition, forcing the GBPA in the past 12 months to close the western two-lane section to traffic and to restrict the weight of vehicles going over the eastern half presumably so that remedial maintenance work can be done.

“Indeed, Sanitation Services Company has had to discontinue going over Taino Bridge with its heavy equipment for some time, occasioning the continuous build up of refuse on Taino. The general opinion is the Taino Bridge must be rebuilt, and not just ‘repaired’ as nothing substantial has been done these past four years or more.”

for commercial banking and financial services.

Mr Pintard said the party would “work with the banking sector to expand branch banking in Family island communities” and “implement targeted subsidies to ensure that Family islanders have access to banking services, enabling banks to at least break even in remote operations”.

Keishla Adderley, Prime Minister Philip Davis’ press secretary, subsequently announced that the Government will soon meet with commercial banks to address concerns over rising banking fees. She added that Mr Davis is aware of the “vigorous debate” on the issue, and said while commercial banks aim to stay competitive, consumers are questioning the justification for higher fees.

“No one wants the banking sector to hurt so we want to see how we can come to a happy medium and neutralise any conflicts that may have arisen over this issue,” Ms Adderley added.

The Central Bank, in its latest bank fee analysis, said: “The Central Bank is working on a number of fronts to advance targeted reforms on fee setting practices for supervised financial institutions.

“However, the Central Bank is mindful that these interventions must be framed to preserve the soundness of deposit taking institutions, which is fundamental to the stability and orderly functioning of the economy.

“Aside from interim measures under the remit of the Payment System Act (2012) that could take effect in the first half of 2025, broader reform proposals are also being explored that would enable the Government to legislate consumer protection and market conduct standards, also applicable to credit products, and which could give the Offices of the Financial Services Ombudsman statutory independence.”

The regulator added:

“Where cost is a significant factor, the Central Bank continues to craft reform proposals that would achieve more universal access to the supply of financial services in the less populated parts of The Bahamas.

“This includes identifying where supportive changes are needed in the infrastructure to improve access to both cash and digital payment services, and the role that agency banking could play in lowering supply-side hurdles.

“On affordability and access, within the remit of the Payments System Act (2012), the bank is developing financial inclusion regulations to mandate a ‘basic’ deposit account product for consumers of low-economic means,” the Central Bank continued.

“The targeted approach would be exposed to public consultation, and would also be accompanied by proposals to add more transparency to the fee setting process for digital wallets, credit and debit cards, and transactional accounts, which facilitate payments (savings and chequing accounts).”

PINTARD BLASTS GOV’T ON ‘SINGLE SOURCE’ BIDDING

By FAY SIMMONS Tribune Business

THE Opposition’s leader is accusing the Government of bypassing the Public Procurement Act through the increased use of sole source bidding.

Michael Pintard told Tribune Business that there had been no competitive bidding on numerous contract awards, including the outsourcing of New Providence’s baseload electricity generation and electricity grid to Bahamas Utilities Company (a FOCOL Holdings subsidiary) and Bahamas Grid Company/ Island Grid, respectively.

While agreeing there are circumstances where single source bidding may be justified, he argued that the Government must be transparent over the rationale for using this process given that the lack of competition raises questions over

FNM slams Sir Franklyn on bank reform criticism

By FAY SIMMONS Tribune Business Reporter

jsimmons@tribunemedia.net

THE Opposition’s leader has hit back at Sir Franklyn Wilson over his criticism of the party’s banking reforms by arguing that he is attacking the same proposals he recommended.

Michael Pintard, responding to the Sunshine Holdings and Arawak Homes chairman’s assertion that he was “talking fool” to suggest he could change the Canadian banks’ policies, argued that Sir Franklyn in the very next breath backed the Free National Movement’s (FNM) plan by suggesting this nation follow Barbados’ lead on banking reform.

Asserting that nation’s changes were similar to what the FNM is proposing, Mr Pintard added: “Some of the people who are talking loudest, who didn’t bother to read my comments on the banking reform, recommended the very same things that I said in the banking reform.”

Dr Duane Sands, the FNM’s chairman, took a blunter and more personal approach by stating his party “does not need lectures from a PLP oligarch”. He defended the FNM’s reform proposals as a “careful, responsible” approach that balances business and consumer interests.

“This is as it should be in our democracy, and we believe that the FNM is approaching this matter in a careful, responsible manner, because we in the FNM are strongly pro business and pro consumer,” Dr Sands asserted. “We wouldn’t send armed guards to collect taxes at gunpoint. We believe in a free market that is well regulated for the protection of consumers, businesses and the broader common good.”

He clarified that the FNM supports a free market where financial services operators can adjust their prices competitively, and is opposed to fixed price controls, while emphasising the need for a regulatory regime that ensures fairness, transparency and accessibility in banking fees.

“It is unfortunate that one of the biggest bigwigs, and one of the most entitled members of the PLP, said that Mr Pintard was, and I’m quoting, ‘talking fool’, and that the banks should not be approached in a socalled dictatorial manner,”

Dr Sands said.

“Now, never mind he claimed that he hadn’t read the leader of the Opposition’s comments, because if he had bothered he would have seen that the banking reforms that he considered best practices were in the very same proposal that he disparaged.”

whether Bahamian taxpayers are obtaining the best price and deal.

“The very nature of public-private partnership calls for competitive bidding,” Mr Pintard said. “In some cases, it makes sense and it’s justifiable, and in others it isn’t. Once you’ve made that determination, the public deserves to know what is the length of such an arrangement and the terms of that arrangement.”

He stressed that details such as project cost, interest rates attached to any debt financing and, in the case of PPPs, the method by which companies will regain their initial investment and generate a profit should be made available to the public. Among the PPPs to attract the Opposition’s scrutiny are the Exuma and Eleuthera road paving projects by Bahamas Striping and its Caribbean Pavement Solutions subsidiary.

Mr Pintard also resumed his attacks on the

Bank teams with UN Women to host

‘empowerment

FROM PAGE B2

transformative experience for participants.

BDB said it also gave attendees details about its new SDG Concessional Loan Fund. This product, aimed at supporting sustainable development goals (SDGs) in the region, charges an interest rate of just 0-2 percent. The Fund is designed to provide accessible financing options for businesses in the agriculture, tourism and creative industries that are owned by, led by or offering products and/or services that benefit women, young people and persons with disabilities.

Nicholas Higgs, the Bahamas Development Bank’s managing director, said: “We are thrilled with the success of the Women in Business Empowerment Retreat and the positive impact it has had on our participants. Events like this are crucial in building

Government for “single sourcing” bids for the development of an online portal to capture boat and yacht charter fees and harbour navigational aids- contracts that were awarded to DigieSoft Technologies and Adolpha Maritime Group, respectively.

“Many other contracts that are not PPPs, the Government just simply single source it,” he said. “The Ministry of Transport, for example, with the navigational aids, with the creation of the software for different ministries to collect government taxes and repatriate monies to the Consolidated Fund.

“We pointed out that some companies have won bids where they never even entered. They were never part of the process. So, it must mean the Government single sourced those companies, gave them the contracts without competitive bidding.”

Mr Pintard had earlier this week accused the Davis administration of being the “largest single sourcing administration” in the history of The Bahamas. Appearing on the Make it Make Sense radio show on Monday, Mr Pintard claimed that the Davis administration has “consistently” avoided competitive bidding and entered into “narrow” agreements with preferred companies.

“The PLP is the largest single sourcing administration under Davis in the history of The Bahamas,” said Mr Pintard. “What they’re doing is entering into a narrow relationship with companies, and they aren’t doing that just for the good of the Bahamian people. They have should explained to us what is motivating you circumventing consistently competitive bidding to give to A, B, C or D.”

retreat’

a strong community of women leaders who are equipped to make meaningful contributions to the economic and social fabric of The Bahamas.”

MICHAEL PINTARD

Water Corp tells Eleuthera’s residents: ‘We feel your pain’

With no electrical supply to drive water production and pump supply around the Corporation’s distribution network to customers, residents and businesses in south Eleuthera endured a second consecutive day of little to no water which forced some of the latter to close.

Noah’s Ark Animal Clinic, in a posting to pet owners yesterday, warned:

“This notice is to regrettably inform you that routine veterinary services on Wednesday, August 28, 2024, are temporarily suspended due to a disruption in the water clinic’s supply in Rock Sound. As a result, all surgical and medical appointments are cancelled effective immediately until further notice.

“The office will remain open until 1pm to reschedule appointments, refill prescriptions, general inquiries and emergency services. Clients that have appointments scheduled for Thursday, August 29, 2024, will be contacted should the suspension be extended. We sincerely apologise for any inconvenience caused.”

With BPL again warning of a four-hour power interruption in the Tarpum Bay area that was due to begin from 9am yesterday, Mr Gibson told south Eleuthera residents via social media postings seen by Tribune Business that the Water & Sewerage Corporation was tackling the loss of water supply “as a matter of priority”.

In response to his pledge that a new back-up generator would be shipped to south Eleuthera today, Kendera Bethell replied: “Mr Gibson, looks like you all need to approach BPL as a matter of priority as well

because they ain’t helping.” She added that the island’s utility woes “require prayer and fasting”, saying: “And school is about to open. Businesses closing. How we are supposed to function?”

Another resident, taking a more confrontational stance, wrote: “But Mr Gibson, you don’t feel our pain, sir. Why doesn’t Water & Sewerage have a maintenance contingency plan? Why does the whole reverse osmosis have to crash and show that our greatest need for survival [water] has no back-up plan? Why do we have to wait 72 hours for repairs?

“So, Mr Gibson, we don’t want to give you grief... we want you to feel our grief, and 72 hours later ain’t helping us sir. Put that generator on an aircraft and land it at Rock Sound airport. Thank you for hearing us out, Mr Gibson.”

The Water & Sewerage Corporation executive, in response, said: “We do feel your pain, and we do apologise for the inconvenience. We are also hoping that BPL regularises our power supply today. They have also sent in specialists to address the main power supply. The generator is too large to fit on an aircraft. It must be shipped by boat.”

Speaking subsequently to Tribune Business, Mr Gibson said the Corporation was working with BPL to restore regular electricity supply to the south Eleuthera reverse osmosis plant as well as install the new back-up generator. The plant is also operated by Aqua Design, the same company that runs the water supply facility at the former Naval Base which was responsible for central Eleuthera’s recent outages. “We’re approaching it from two angles,” Mr

Gibson told this newspaper. “We are working with BPL to address the permanent power supply. We are also shipping tomorrow [today] a new back-up generator. We know they’ve [BPL] made statements they are improving their aged infrastructure. We are working along with them to address that issue that is affecting just the Rock Sound and Tarpum Bay area.”

Asserting that progress was being made, although there was no suggestion that south Eleuthera’s water supply was fully restored as Tribune Business went to press, Mr Gibson nevertheless voiced confidence that a solution will be found. “We are both giving it our greatest attention,” he added. “We are making steady progress. We feel confident.”

The Corporation, in a statement issued on Tuesday night, blamed the south Eleuthera water woes on BPL’s issues. “We understand the frustration and inconvenience of the residents of Tarpum Bay and Rock Sound caused by the extended water outage today,” it said.

“The situation is due to ongoing electricity grid supply irregularities which we are actively working to address in collaboration with BPL. Teams from both Water & Sewerage and BPL are currently on-site... To ensure continuous water supply, another generator has been purchased to replace the failed plant generator which was damaged due to extended usage.”

The Water & Sewerage Corporation previously described Eleuthera as “perhaps our most active island” with $27m total projects either underway, about to start or planned. These were billed as

bringing “improvements to our water supply system across the island to meet the challenges we have experienced over the last several months”.

“Presently, the Corporation has over $7m of works in progress and a further over $20m in works is projected to commence shortly as part of the Eleuthera public-private partnership (PPP) road paving and public infrastructure programme,” Robert Deal, its general manager, told Tribune Business last month in referring to Bahamas Striping’s road upgrade project.

The works already underway include1.5m imperial gallons of new potable water storage at the Bogue water supply facility compared to the 250,000 imperial gallons previously in place. A further 1.5m imperial gallon storage tank is also being installed at the Naval Base facility to replace the previous “old leaking tank” with 200,000gallon capacity.

A pumping station with high efficiency pumps and full stand-by generator capacity is also being developed at the Naval Base site, while 500,000 imperial gallons of potable water storage is being installed on Harbour Island to replace another 200,000 gallon tank that was also beset with leaks.

Mr Deal said “substantial repairs” to the Spanish Wells storage tank have been completed, and new high efficiency pumps are being procured for the island. Improvements will also be effected to the Bogue wellfield “to increase the quality and quantity of our groundwater production, which augments our Bogue desalination plant”. Generators have already been installed at the Cistern

pumping station, he added, with work planned for the Hatchet Bay booster station “in the coming weeks”.

Mr Deal said the Waterford water supply facility is now in place, with the Spanish Wells pumping station also set for upgrades and improvements to the Current Island stand-by generator now in progress.

“The $20m-plus of water infrastructure works as part of the PPP project will include extensive improvements to the existing water transmission and distribution network to upgrade our systems, replacing old, high leak frequency mains and connecting our various systems to provide increased system redundancy and resiliency,” Mr Deal added of Eleuthera.

Mr Gibson yesterday pledged that, when completed, the upgrades will allow Eleuthera residents to enjoy a steady, consistent water supply once again. “We will return to our regular, reliable service that we provide throughout the Commonwealth of The Bahamas,” he promised. “We appreciate the patience of our customers while we improve the service.”

Other south Eleuthera described the ongoing utility woes as a “sad state of affairs”. Speaking to Tribune Business, one resident said “temporary relief” has been provided by the tankered water distributed in her settlement over the past few days but complained it is only enough to maintain a household.

She explained that the amount of water distributed is “only enough to flush the toilet and wash the dishes”, so her family has been forced to purchase gallons of drinking water to perform basic tasks.

Customs chief: Morale can’t be low with revenue up 33%

FROM PAGE B1

morale. They’re performing, growing the economy, but if morale was that low we would have been in trouble. We’re seeing tremendous enhancement in revenue.”

However, one officer speaking on condition of anonymity to this newspaper alleged the opposite.

“Employee morale, basically, the working conditions, the way the employees are treated, everything has been on a decline,” they asserted.

“It’s like Mr Munroe just doesn’t care, or it’s like he ran in that seat with some vengeance because he went through certain things during his career.”

Mr Munroe said he knew what the officer was alluding to, but said he would not try to “get back” at the Government and the department that gave him the Comptroller position. “At the government? Which government? This government appoint me the position. Get back at them to do what?” he asked.

The comptroller explained that, in 2000, he faced legal problems with one of his predecessors in

the post, John Rolle, and won. He added that he had the opportunity to pursue another career path but wanted to serve his country and came back to the Customs Department.

“Then I went to law school, became an attorney 15 years ago, and came back to the Customs Department to give some service. I didn’t go into private practice like some of my colleagues. I came back as appreciation to the Bahamian people for giving me the opportunity and to do something that I love. Small people think like that. Small people,” Mr Munroe charged of the criticism.

“I didn’t have to come back to Customs. I could have taken pension, be on pension now, get money every month and don’t have to hit a lick, and I could have gone and worked with my colleagues. I decided to do something for the country, and so far I’ve been very pleased with what I was able to do for the country and, hopefully, I can better the lives of those behind and inspire them to do the same.

“You always have people who don’t understand, and all I say is I try hard to see

if I could change their mind to let them know my only goal is to see how we could have a better department.”

Other allegations, though, have involved favoritism, especially when it comes to overtime opportunities, while there have been claims that Mr Munroe does not have an ‘open door’ policy for officers to voice concerns.

“Mr Munroe is not a person that is open to listening to the concerns of the officers,” one said on condition of anonymity.

“Whenever any of the officers want to meet with him or speak with him, or even when the union wants to meet with him or communicate with them, you can’t ever reach him.

“He doesn’t have an open door policy, but once the Prime Minister or someone comes around he always

“We’ve been dealing with this problem for months,” she said. “Every time the current cut off, the water off, but for the past couple days it’s just been off all weekend; no water.

“They bring round the truck with the water over the last couple of days so I guess that’s temporary relief, but I’m telling you it’s a sad state of affairs. And then when the water do come round it isn’t enough, so as soon as you flush the toilet and wash the dishes, water gone.”

She said residents want to know when their water woes will come to an end and questioned what the utility companies and local government plan to do when schools reopen.

“Right now, I don’t even know what’s going to happen next week because the kids can’t go to school if there’s no light or water. And if you keep them home there isn’t any there either,” she added.

“We need to know a definitive plan for what is going to happen and when this will be fixed. We deserve to know that. Right now, the place like it’s falling apart. Nothing can stay on and like nothing getting fixed.”

Earlier this month, Toni Seymour, Bahamas Power & Light’s (BPL) chief operating officer, said Eleuthera residents will experience relief from debilitating power outages by the end of September. Locals, however, voiced doubts that the utility will meet this deadline, stating: “They will 100 percent have to prove me wrong because I seriously doubt it.”

likes to put it out that ‘I have an open door policy. The officers can come see me any time’.” Mr Munroe responded by saying he is focused in order and discipline, and there is a process to meeting with him.

“Open door policy don’t mean that you come and say, ‘Hey, I come to see you’,” he said. “I don’t have that. That can’t happen. You have order, and when you want to see me go through your department head. It’s what we call going through the chain of command. I want the public and the staff to have that kind of rapport with me because I cannot work in isolation.

“I work for people. I’m not one of those people who believe they own it. I own nothing. I work here, I work for the Bahamian people. They are my bosses. I want people to get out of this hiding. And people like to run to the press. I’m saying there’s no need for that. The problem is some people don’t want to accept what you say.”

‘No secret’ Customs short staffed amid grievances

directorate of the Immigration Department. However, after several attempts to meet with the office of the Comptroller of Customs with negative results, the union appealed to Simon Wilson [the Ministry of Finance’s financial secretary], the financial comptroller, and Janice Miller, the permanent secretary of the Ministry of Finance.”

Mr. Brooks said matters concerning “outstanding promotions, reclassifications and outstanding monies that were owed to the Customs officers and cashiers” were all discussed at the union meeting. He added that he and other union members are still waiting for a response or a solution to their complaints.

According to one Customs officer, speaking on condition of anonymity, this was not the first attempt to bring issues within the Department to light. They said the same concerns were voiced when Prime Minister Philip Davis KC visited the agency’s headquarters on July 12 to show his appreciation for collecting revenue in excess of $1.4bn for the 2023-2024 fiscal year.

In regards to the Prime Minister’s visit, one employee said: “A lot of officers showed up to that because there’s so much going on in Customs right now, and they thought that was the only chance they were going to get to voice their concerns or to finally get some much-needed help with what’s going on in the Department.”

The Prime Minister sent Ms Miller, Mr Wilson and others back to Customs headquarters on July 19 to hear the grievances in more detail. Supersessions, meaning the replacement of one officer by another, were among the topics discussed. There were claims many officers were being replaced without just cause “basically out of victimisation or favoritism, or too much political interference”.

Another Customs officer added: “How is that possible when, according to their employee performance appraisals, they are up for promotion as their EPA don’t say otherwise to say that they have any negative things on their EPA. So how is it that you promote somebody who’s under me? Promote them above me, and there’s nothing that you can justify as to why.”

Mr Munroe yesterday said promotions and supersessions are not left solely up to him. He added that the same process followed by the “wider public service” for promotions is used by Customs.

“This office make recommendations and that isn’t done strictly by the head of department, Mr Munroe said. “The human resources section, which comprises persons who may

be permanent staff here for years, as well as someone from recently came in. We look at the file. That is what we look at. Of course, there are sometimes other circumstance that may cause someone not to be recommended.

“If they wish to, they can appeal this position on recommendation and they can go all the way, to be honest with you, up to the [Public Service] Commission. When the Commission makes a decision, you’ve got the Public Service Appeal Commission. So we have in place in The Bahamas, for all public officers, the mechanism for due process, for anybody who is aggrieved.

“I’m part of the so-called committee. The senior officers and executives who would be there, and there would be persons from human resources would be there, and all we do is we make a recommendation. The recommendation goes to the Ministry of Finance. The Department of Public [Service] personnel, they look at it and from there then it goes to the Commission.”

Mr Munroe said he did not want to speak to who has the final decision on promotions, adding: “I can’t say how the Commission operates. I wouldn’t want to speak for them.”

One officer, though, alleged timely promotions are a problem in Customs, adding, “If you get promoted today, look to stay in that rank for the next seven to 13 years. A few people from the last promotional exercise that were on the list to be promoted met every requirement or eligibility for the promotion. They still have not been promoted.” Mr Munroe, though, blamed the delay on COVID-19 fall-out.

“We had the largest promotional exercise ever in the history of this department, and that’s less than three years ago, November 2022,” he said. “Since then, we had some promotions, sporadic small promotions. We still got some data in the pipeline that is coming through. Probably some will tell you something because files weren’t complete and so forth.

“If you know what happened during COVID, everything shut down. We had persons who would have moved from one area to another so they couldn’t get the progress report and stuff on time, and sometimes we find persons who were supposed to make it already retired. So that hold up quite a few of the officers.”

Another Customs officer said they believe people who are due for promotions are not receiving them because retired employees are being rehired. “They’re not promoting, but they’re bringing back retired staff,” they said. “They’re not promoting the staff that is due promotion because they’re

bringing back all these people who attained the age of 65 and wouldn’t go home.”

Mr Munroe defended such moves, adding that officers who are re-hired will benefit the department with their knowledge and experience. “What we have to look at is we are short-staffed, still,” he said. “That’s no secret, that’s no apology. It is what it is.

“Does it make sense for us to allow people who could assist with revenue collection and protection, and could offer good service to this country, if they are willing to? Does it make sense for us to allow them just to go into retirement and, by retaining them, we could collect millions more?

“They augment the numbers that we need, plus the knowledge that they have, we could use them. Only in The Bahamas, when you get a certain age, we throw you into retirement and that time that some people could function and could give you what you need, but it doesn’t impede the progress of persons below you.”

Reclassifications is another issue vexing some Customs officers.

Sources have said many employees have gone from non-uniform positions to Customs officers but have still not received the benefits that they are supposed to receive. Mr Munroe, however, assured that if a person is reclassified they will receive the benefits owed to them.

“The governor-general does the appointment on recommendation of the Public Service Commission,” he added. “If you want to be reclassified, you got to go all the way back through there. Once they’re done, they would then inform us. Once they inform us, that letter will come to the head of department, who is the comptroller.

“The comptroller would send that on to the human resources section, and the human resources section will take the necessary action. Whatever benefit that they would be entitled to under new reclassifications, they would get it. If it’s monetary, they would have it. If it’s uniform, they would have it, whatever it is. But we can’t do it until you’re so instructed.

“For instance, some persons were reclassified and they became officers, and one of their gripes is that they don’t have the benefit of the insurance. That’s one of the things they would say. We’re saying until that comes to us and say that you are a Customs officer, no one can act on it. We cannot, and that’s why I say it ain’t with us when it comes back. We know what we sent up. Until that happens, we can’t do a thing about it.”

Mr Brooks said he believes the biggest complaint from his Customs

officer members relates to overtime payments and transportation fees. One officer said many employees have not received their overtime pay since December 2023.

“The problem with the overtime that is not being paid and is still pending from January of this year, transportation officers use their private vehicle to go to these various sites, and transportation is backed up from basically the same time. No transportation has been paid. Some people have not gotten it from last year, actually,” another officer said.

Mr Munroe explained the process of getting overtime and transportation money to the officers.

“We got a small account section,” he said. “They got to deal with the daily work that is normal within the collection of government revenue, and they also got to deal with the transportation bills for the officers, the fees to be paid. They got to deal with overtime. They got to deal with shift allowances.

“We find out that to get it done, the account section has got to make overtime so that we could pay the officers their overtime, and that again is a lot of money. What they’re dealing with now, as we speak, is not overtime. They got to deal with grabbing collections; that’s going on now. People are paying. They gotta come for that now. Dealing with that.

“Later on we could look at these bills that are coming from the out stations and coming from the Family Islands. They got to work Saturday, Sunday and every evening. They’ve been doing that now for months, trying to catch up,”

Mr Munroe continued.

“I dealt with some bills, I think Monday or Tuesday for December of last year, just reach to me. Accounts got to look at it first. They got to receive it. When they receive it they meet bills. So they try to go back, take from the bottom and they got to go through every bill.”

Rail worker’s death in Ohio railyard highlights union questions about remote control trains

By JOSH FUNK Associated Press

THE CSX worker who discovered his friend run over by a pair of remotecontrol locomotives in a railyard last year sees a simple solution to preventing similar deaths in the future: two-person crews.

But that idea won't be popular with the railroads that have come to rely heavily on having one person control trains moving around a railyard with a remote control as they take apart and reassemble trains. The tactic that was first approved in 2005 started with two people on the job to watch for hazards, but today oneperson remote-control operations are common.

Using remote control operators helps limit costs by using less experienced workers to move locomotives that help assemble trains — a task that once required licensed engineers who are among the highest-paid rail workers. The Brotherhood of Locomotive Trainmen and Engineers and other unions have been raising concerns about the practice recently, particularly because remote-control trains are now being used in places outside of railyards to make local trips to pick up and drop off cars.

Railroads are confident the practice is safe based on their experience using it for years. But Federal Railroad Administration spokesman Warren Flatau said the agency is scrutinizing the use of remote control after this death and several other recent incidents. The expanded use of remotecontrol trains outside of

rail yards is also attracting attention.

The National Transportation Safety Board provided an update on its investigation into the death of Fred Anderson on Wednesday when it posted transcripts of its interviews with the workers involved and other information. Anderson was killed on September 17, 2023, when he stepped in front of two locomotives in CSX's railyard in Walbridge, Ohio.

Railroad safety has been in the spotlight ever since last year's disastrous Norfolk Southern derailment in East Palestine, Ohio, forced evacuations and left residents with lingering health fears after a cocktail of toxic chemicals spilled and burned.

At the time Anderson was killed, the remote control operator was riding on a ladder on the back of the second locomotive with no view of the front of the train. That practice is perfectly acceptable under federal and railroad rules because earlier in the shift the remote-control operator had cleared the area around the tracks where he was working. Anderson and the other carman he was working with, George Oliger, had radioed ahead to get permission to enter the area, but Anderson was still struck by the train. Oliger told investigators afterward that he thinks Anderson's death would have been prevented if the remotecontrol operator was on the front of the locomotives or if a conductor or engineer were controlling them from the cab. He said a traditional crew would have likely seen Anderson and

rang the bell to alert him to the danger.

"What does it cost for an engineer for the night?

$350? If we had two guys on every crew, to spend $350 to save someone's life or to make our yard a little bit safer, I think that's what we need to do, you know. Like I said if there had been a two man crew on that crew that night, we wouldn't be talking," Oliger said, according to a transcript of his interview. It's not clear if anyone would have been able to stop the locomotives in time

before they hit Anderson, but if someone operating the train had seen him step onto the tracks, they may have been able to warn him. The locomotives were moving at 10 mph (16 kph) when they struck Anderson, and the remote control operator told investigators that he believes it would have taken the length of an engine to stop them at that speed.

But Randy Fannon, who leads the engineers' union's Safety Task Force, said he thinks, "This tragic incident in Ohio involving a

remotely operated train, blindly controlled from behind, would not have happened if there had been a locomotive engineer in the cab."

Fannon said railyard workers are more alert to the risks presented by remote-control trains, but the union is "adamantly opposed to remotely operated trains being used outside fenced-in yard environments where pedestrians or vehicles could come in contact at rail crossings."

MILITARY SHIPBUILDER AUSTAL SAYS INVESTIGATION SETTLEMENT IN BEST INTEREST OF COMPANY

MOBILE, Ala. Associated Press

EXECUTIVES with military shipbuilder Austal said settling an accounting fraud investigation, which included an agreement to pay a $24 million penalty, is the best outcome for the company and that new controls are in place. Austal USA, a subsidiary of Australia-based Austal Limited, pleaded guilty to one count of securities fraud and one count of obstruction of a federal audit to settle an accounting fraud

case. Austal USA agreed to pay a penalty of $24 million, according to the U.S. Justice Department. Restitution will also be paid to Austal shareholders. However, the restitution will be paid from the penalty, so the company will pay a total of $24 million. "Settling this action is the best outcome for Austal. Upon learning of this issue, Austal conducted its own independent investigation. The responsible individuals are no longer with the Company, and we have made numerous governance

NOTICE

NOTICE is hereby given that LIONEL JEAN-LOUIS of P.O. Box N-10326, Nassau Village, New Providence, Bahamas 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 29th day of August, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

changes to prevent similar issues from occurring again," John Rothwell, the former chairman of Austal Limited who now serves as non-executive director of the board, said in a statement issued by the company. Austal builds littoral combat ships that are designed to operate in shallow coastal waters. "The investigations focused on conduct that occurred over 8 years ago, and with a large order book of work ahead of us, we need to concentrate on the future — not the past," Rothwell added.

CSX and all the unions directly involved aren't allowed to discuss Anderson's death until the NTSB completes its investigation, which the agency has said is focused on CSX's carmen safety procedure training and awareness. The Federal Railroad Administration and CSX both put out advisories after Anderson's death reminding all rail workers that they need to be careful when crossing tracks and should always be aware that a train can move down a track at any time.

The Justice Department said that from 2013 through July 2016, Austal USA misled shareholders and investors about the company's financial condition. The Justice Department said Austal USA artificially lowered cost estimates, despite rising shipbuilding costs, to meet its revenue budget and projections. That had the impact of falsely overstating Austal USA's profitability on the ships and Austal Limited's earnings reported in its public financial statements.

The U.S. Securities and Exchange Commission will handle the distribution of funds to harmed investors, the Justice Department said.

NOTICE

NOTICE is hereby given that HONKEY MIKE GUSTAVE of Jerome Avenue, New Providence, Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22nd day of August, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

CSX locomotives sit at CSX North Framingham Yard, on Jan. 24, 2023, in Framingham, Mass.

Photo:Steven Senne/AP

French authorities issue preliminary charges against Telegram messaging app CEO

By BARBARA SURK and ANGELA CHARLTON Associated Press

FRENCH authorities

handed preliminary charges to Telegram CEO Pavel Durov on Wednesday for allowing alleged criminal activity on his messaging app, and barred him from leaving France pending further investigation.

Both free-speech advocates and authoritarian governments have spoken out in Durov's defense since his weekend arrest.

The case has also called attention to the challenges of policing illegal activity online, and to the Russiaborn Durov's own unusual biography and multiple passports.

Durov was detained on Saturday at Le Bourget airport outside Paris as part of a sweeping investigation opened earlier this year, and released earlier Wednesday after four days of questioning. Investigative judges filed preliminary charges Wednesday night and ordered him to pay 5 million euros bail and to report to a police station twice a week, according to a statement from the Paris prosecutor's office.

Allegations against Durov, who is also a French citizen, include that his platform is being used for child sexual abuse material and drug trafficking, and that Telegram refused to share information or documents with investigators when required by law.

The first preliminary charge against him was for ''complicity in managing an online platform to allow illicit transactions by an organized group,'' a crime that can lead to sentences of up to 10 years in prison and 500,000 euro fine, the prosecutor's office said.

Preliminary charges under French law mean magistrates have strong reason to believe a crime was committed but allow more time for further investigation.

David-Olivier Kaminski, a lawyer for Durov, was quoted by French media as saying "it's totally absurd to think that the person in charge of a social network could be implicated in criminal acts that don't concern him, directly or indirectly."

Prosecutors said that Durov is, "at this stage, the only person implicated in this case." They did not exclude the possibility that other people are being investigated, but declined to comment on other possible arrest warrants. Any other arrest warrant would be revealed only if the target of such a warrant is detained and informed of their rights, prosecutors said in a statement to the AP.

French authorities opened a preliminary investigation in February in response to ''the near total absence of a response by Telegram to judicial requests" for data for pursuing suspects, notably those accused of crimes

WAN JIN INVESTMENTS LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) WAN JIN INVESTMENTS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 28th August, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 29th day of August, A. D. 2024

Bukit Merah Limited Liquidator

against children, the pros-

ecutor's office said.

Durov's arrest in France has caused outrage in Russia, with some government officials calling it politically motivated and proof of the West's double standard on freedom of speech. The outcry has raised eyebrows among Kremlin critics because in 2018, Russian authorities themselves tried to block the Telegram app but failed, withdrawing the ban in 2020.

In Iran, where Telegram is widely used despite being officially banned after years of protests challenging the country's Shiite theocracy, Durov's arrest in France prompted comments from the Islamic Republic's supreme leader. Ayatollah

Ali Khamenei weighed in with veiled praise for France for being "strict" against those who "violate your governance" of the internet.

French President Emmanuel Macron said Monday that Durov's arrest wasn't a political move but part of an independent investigation. Macron posted on X that his country "is deeply committed" to freedom of expression but "freedoms are upheld within a legal framework, both on social media and in real life, to protect citizens and respect their fundamental rights."

In a statement posted on its platform after Durov's arrest, Telegram said it abides by EU laws, and its moderation is "within industry standards and constantly improving."

"Almost a billion users globally use Telegram as means of communication and as a source of vital information. We're awaiting a prompt resolution of this situation,'' it said.

In addition to Russia and France, Durov is also a citizen of the United Arab Emirates and the

Caribbean island nation of St. Kitts and Nevis. The UAE Foreign Ministry said Tuesday that it was "closely following the case" and had asked France to provide Durov "with all the necessary consular services in an urgent manner."

Kremlin spokesman Dmitry Peskov said he hoped that Durov "has all the necessary opportunities for his legal defense" and added that Moscow stands "ready to provide all necessary assistance and support" to the Telegram CEO as a Russian citizen.

"But the situation is complicated by the fact that he is also a citizen of France," Peskov said.

Telegram was founded by Durov and his brother after he himself faced pressure from Russian authorities.

In 2013, he sold his stake in VKontakte, a popular Russian social networking site which he launched in 2006.

The company came under pressure during the Russian government's crackdown following mass pro-democracy protests that rocked

Moscow at the end of

and 2012.

Durov had said authorities demanded that the site take down online communities of Russian opposition activists, and later that it hand over personal data of users who took part in the 2013-2014 popular uprising in Ukraine, which eventually ousted a pro-Kremlin president.

Durov said in a recent interview that he had turned down these demands and left the country.

The demonstrations prompted Russian authorities to clamp down on the digital space, and Telegram and its pro-privacy stance offered a convenient way for Russians to communicate and share news.

Telegram also continues to be a popular source of news in Ukraine, where both media outlets and officials use it to share information on the war, and deliver missile and air raid alerts. Western governments have often criticized Telegram for a lack of content moderation.

Dated this 29th day of August, A. D. 2024 BRADENBURG INTERNATIONAL

N O T I C E IS HEREBY GIVEN as follows:

(a) BRADENBURG INTERNATIONAL LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 28th August, 2024 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Bukit Merah Limited Liquidator

to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 29th day of August, A. D. 2024

Bukit Merah Limited Liquidator

TELEGRAM co-founder Pavel Durov, center, smiles following his meeting with Indonesian Communication and Information Minister Rudiantara in Jakarta, Indonesia on Aug. 1, 2017. Photo:Tatan Syuflana/ AP

2011

California advances landmark legislation to regulate large AI models

By TRÂN NGUYỄN Associated Press

EFFORTS in Cali-

fornia to establish first-in-the-nation safety measures for the largest artificial intelligence systems cleared an important vote Wednesday that could pave the way for U.S. regulations on the technology evolving at warp speed.

The proposal, aiming to reduce potential risks created by AI, would require companies to test their models and publicly disclose their safety protocols to prevent the models from being manipulated to, for example, wipe out the state's electric grid or help build chemical weapons — scenarios experts say could be possible in the future with such rapid advancements in the industry.

The bill is among hundreds lawmakers are voting on during its final week of session. Gov. Gavin Newsom then has until the end of September to decide whether to sign them into law, veto them or allow them to become law without his signature.

The measure squeaked by in the Assembly Wednesday and requires a final Senate vote before reaching the governor's desk.

Supporters said it would set some of the first muchneeded safety ground rules for large-scale AI models in the United States. The bill targets systems that require more than $100 million in data to train. No current AI models have hit that threshold.

"It's time that Big Tech plays by some kind of a rule, not a lot, but something," Republican Assemblymember Devon Mathis said in support of the bill Wednesday. "The last thing we need is for a power grid to go out, for water systems to go out."

A PERSON stands in front of a Meta sign outside of the company’s headquarters in Menlo Park, Calif., March 7, 2023.

month to include some of the company's suggestions. The current bill removed the penalty of perjury provision, limited the state attorney general's power to sue violators and narrowed the responsibilities of a new AI regulatory agency.

Social media platform X owner Elon Musk also threw his support behind the proposal this week.

Anthropic said in a letter to Newsom that the bill is crucial to prevent catastrophic misuse of powerful AI systems and that "its benefits likely outweigh its costs."

Wiener said his legislation took a "light touch" approach.

The proposal, authored by Democratic Sen. Scott Wiener, faced fierce opposition from venture capital firms and tech companies, including OpenAI, Google and Meta, the parent company of Facebook and Instagram. They say safety regulations should be established by the federal government and that the California legislation takes aim at developers instead of targeting those who use and exploit the AI systems for harm.

A group of several California House members also opposed the bill, with Former House Speaker Nancy Pelosi calling it " well-intentioned but ill informed."

Chamber of Progress, a left-leaning Silicon Valleyfunded industry group, said the bill is "based on science fiction fantasies of what AI could look like."

"This bill has more in common with Blade Runner or The Terminator than the real world," Senior Tech Policy Director Todd

O'Boyle said in a statement after the Wednesday vote. "We shouldn't hamstring California's leading economic sector over a theoretical scenario."

The legislation is supported by Anthropic, an AI startup backed by Amazon and Google, after Wiener adjusted the bill earlier this

"Innovation and safety can go hand in hand—and California is leading the way," Weiner said in a statement after the vote. He also slammed critics earlier this week for dismissing potential catastrophic risks from powerful AI models as unrealistic: "If they really think the risks are fake, then the bill should present no issue whatsoever."

Photo:Jeff Chiu/AP

KILLINGS OF INVASIVE OWLS TO RAMP UP ON US WEST COAST IN A BID TO SAVE NATIVE BIRDS

By MATTHEW BROWN Associated Press

U.S. wildlife officials beginning next year will drastically scale up efforts to kill invasive barred owls that are crowding out imperiled native owls from West Coast forests, under a plan finalized Wednesday that faces challenges from barred owls returning after they've already been removed.

Trained shooters will target barred owls over 30 years across a maximum of about 23,000 square miles (60,000 square kilometers) in California, Oregon and Washington. The U.S. Fish and Wildlife Service goal is to kill up to 452,000 barred owls and halt the decline of competing northern spotted owls and California spotted owl s.

Killing one bird species to save others has divided wildlife advocates and is reminiscent of past government efforts to save West Coast salmon by killing sea lions and cormorants, and to preserve warblers by killing cowbirds that lay eggs in warbler nests. The barred owl removals would be among the largest such effort to date involving birds of prey, researchers and wildlife advocates said.

Native to eastern North America, barred owls started appearing in the Pacific Northwest in the 1970s. They've quickly displaced many spotted owls, which are smaller birds that need larger territories. An estimated 100,000 barred owls now live within a range that contains only about 7,100 spotted owls, according to federal officials.

The newcomers' arrival also threatens to decimate frog and salamander species that barred owls prey on.

"It's not just one owl versus one owl," said David Wiens, a U.S. Geological Survey scientist who led a barred owl removal study that ended in 2020. "Because of their predatory behavior, they are basically eating anything in the forest and this includes amphibians, small mammals, other bird species."

Government officials say 15 years of killing barred owls experimentally, including on Northern California's Hoopa Valley Indian Reservation, shows the controversial strategy could halt the decline of spotted owls. Yet researchers warn that few spotted owls remain in some areas, and it could take years to turn the tide on the barred owls' aggressive expansion.

Former Fish and Wildlife Service biologist Kent Livezey said the mass killing of barred owls was ill-advised and could cost hundreds of dollars per bird. Livezey has documented more than 100 bird species that expanded their range in recent years.

"We should let nature take its course," he wrote in an email. "Birds (and all animals) move. Competitions arise. Should we be stepping in and killing mass numbers of them like this?"

The wildlife service would designate government agencies, landowners, tribes or companies to carry out the killings. Shooters would have to provide documentation of training or experience in owl identification and firearm skills.

"We're still going to have barred owls in the West. This is really just about trying to prevent the extinction of spotted owls," said Fish and Wildlife Service Oregon state supervisor Kessina Lee. She declined

to give a cost estimate and said that would depend in part on the willingness of other government agencies and land managers to participate.

Northern spotted owls are federally protected as a threatened species. California spotted owls were proposed for federal protections last year. A decision is pending.

Barred owls arrived in the Pacific Northwest via the Great Plains, where trees planted by settlers gave them a foothold, or via Canada's boreal forests, which became warmer and more hospitable as the climate has changed, researchers say.

Their spread has undermined decades of spotted owl restoration efforts that previously focused on protecting forests where they live. That included logging restrictions under former President Bill Clinton that ignited bitter political fights and temporarily helped slow the spotted owl's decline.

Wayne Pacelle with the Washington D.C.-based advocacy group Animal Wellness Action said the government's plan was a distraction from the threats of logging. He said federal officials were misusing the term "invasive species" at a time when animals are migrating to new areas because of global warming and other human-caused changes.

"It's ludicrous to think animals are going to stay in some historical range," Pacelle said.

Barred owls are highly territorial, which makes killing them relatively straightforward, according to researchers. Shooters use megaphones to broadcast recorded owl calls at night

CrowdStrike estimates the tech meltdown caused by its bungling left a $60 million dent in its sales

By MICHAEL LIEDTKE AP Technology Writer

CYBERSECURITY

specialist CrowdStrike Holdings on Wednesday estimated it absorbed a roughly $60 million blow to its sales pipeline last month after its botched handling of a software update triggered a technology meltdown that stranded thousands of people in airports in addition to other exasperating disruptions.

Although the massive outage spooked customers that had been expected to close deals totaling $60 million during the final few weeks of CrowdStrike's fiscal second quarter, executives running the Austin, Texas, company predicted it will still be able to cinch those contracts before its

fiscal year ends in January 2025 because customers still have faith in its cybersecurity products despite the July 19 gaffe that froze up machines running on Windows software.

"Our mission is alive and well, and I know that CrowdStrike's very best days are ahead of us," CrowdStrike CEO George Kurtz told analysts during a conference call covering the company's April-July period. He also apologized for the company's role in an outage that he said "will never be lost on me, and my commitment is to make sure this never happens again. The days following the incident were among the most challenging in my career because I deeply felt what our customers experienced."

Kurtz's reassuring comments, coupled with quarterly earnings that exceeded analysts' projections, seemed to reassure investors who have been buying up CrowdStrike's

stock in recent weeks after initially dumping the shares in the wake of the havoc that the company blamed on a computer bug. The shares rose slightly in Wednesday's extended trading, leaving the stock price 13% below its level before the tech outage — a loss of about $10 billion in market value. Earlier this month, CrowdStrike's shares plunged nearly 25%, knocking off more than $20 billion in market value. Even if the $60 million in deals that CrowdStrike expected to close before the tech meltdown never happen, that will be a minor price to pay compared to the massive bills those

affected by the outage are facing.

Delta Air Lines, for instance, has estimated that it may owe its customers $380 million after the CrowdStrike-induced outage fouled up its computer systems so horribly that it had to cancel about 7,000 flights. Delta has threatened to sue CrowdStrike, which has insisted that the airline is using the tech outage as an excuse for its own bungling.

CrowdStrike didn't provide an estimate of legal expenses it may face from the outage, but indicated the bills probably won't be too burdensome.

and lure the birds close to roads where they are killed with shotguns.

"The birds will come right in. They're very focused on this recording," Wiens said. "If we go into a site and detect a barred owl there, we have over a 95

% chance of removing that barred owl."

Other potential approaches — including capturing and euthanizing barred owls, collecting their eggs to prevent reproduction, or hazing them out of areas with spotted owls

— were considered by the wildlife service but rejected as too costly or impractical.

About 4,500 barred owls birds have been killed on the West Coast since 2009 by researchers, according to officials.

WILDLIFE technician Jordan Hazan records data in a lab from a male barred owl he shot earlier in

the night, Oct. 24, 2018, in Corvallis, Ore.

Photo:Ted S. Warren/AP

Losses for Big Tech companies lead Wall Street lower

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers

STOCKS on Wall Street closed lower Wednesday as a pullback in big technology companies outweighed gains elsewhere in the market.

The S&P 500 fell 0.6%, weighed down by drops in Nvidia, Apple, Microsoft and Amazon. About 56% of the stocks in the benchmark index finished in the red. Tech sector stocks include many companies with outsized values that tend to lean more heavily on the index.

The Dow Jones Industrial Average, which was coming off two consecutive alltime highs, fell 0.4%. The Nasdaq composite, which is heavily weighted with technology stocks, closed 1.1% lower.

The selling came ahead of an eagerly anticipated earnings report from the semiconductor company Nvidia, whose chips power AI applications. The company is one of the most influential stocks on Wall Street, with a total market value topping $3 trillion. Nvidia reported its second-quarter results late Wednesday. Its earnings and revenue topped Wall Street's forecasts, but the stock fell 3.7% in afterhours trading. The shares fell 2.1% during the regular session. They're still up 153% for the year.

The chipmaker is one of several companies that have ridden a wave of enthusiasm over artificial intelligence developments and have been responsible for much of the broader market's big gains over the last year.

The market's pullback ahead of Nvidia's quarterly results may have been partly due to news about another company tied to AI, Super Micro Computer.

The server technology company's stock sank 19.1% for the biggest decline among S&P 500 stocks after the company said it was delaying the filing of its annual report.

"The Super Micro story I think has people on edge because they're so directly linked to the AI theme," said Ross Mayfield, investment strategist at Baird.

Investors also reviewed a mixed batch of earnings and corporate financial updates from other companies Wednesday. Nordstrom rose 4.2% after beating analysts' earnings expectations and raising its financial forecasts for the year. Rival Kohl's rose 0.3% after also

beating analysts' earnings expectations.

PVH, which owns the Calvin Klein and Tommy Hilfiger brands, fell 6.4% after giving investors a revenue forecast short of analysts' expectations. Food producer J.M. Smucker fell 4.9% after trimming its earnings forecast for the year. All told, the S&P 500 fell 33.62 points to 5,592.18. The Dow fell 159.08 points to 41,091.42. The Nasdaq fell 198.79 points to 17,556.03.

The latest results from retailers and others come as Wall Street and the Federal

SUPREME COURT REBUFFS BIDEN ADMINISTRATION PLEA TO RESTORE MULTIBILLION-DOLLAR STUDENT DEBT PLAN

By Associated Press

THE Supreme Court on Wednesday kept on hold the latest multibilliondollar plan from the Biden administration that would have lowered payments for millions of borrowers, while lawsuits make their way through lower courts.

The justices rejected an administration request to put most of it back into effect. It was blocked by

of Appeals. In an unsigned order, the court said it expects the appeals court to issue a fuller decision on the plan "with appropriate dispatch."

The Education Department is seeking to provide a faster path to loan cancellation, and reduce monthly income-based repayments from 10% to 5% of a borrower's discretionary income. The plan also wouldn't require bor

they earn less than 225% of the federal poverty line — $32,800 a year for a single person. Last year, the Supreme Court's conservative majority rejected an earlier plan that would have wiped away more than $400 billion in student loan debt. Cost estimates of the new SAVE plan vary. The Republican-led states challenging the plan peg the cost at $475 billion over 10

cites a Congressional Budget Office estimate of $276 billion.

Two separate legal challenges to the SAVE plan have been making their way through federal courts. In June, judges in Kansas and Missouri issued separate rulings that blocked much of the administration's plan. Debt that already had been forgiven under the plan was unaffected.

The 10th U.S. Circuit

Reserve try to gauge the resiliency of U.S. consumers amid the squeeze from inflation and high borrowing rates. The latest updates from clothing retailers, food producers and others can help shed more light on how and where people are spending money.

Investors are also looking ahead to Friday, when the U.S. government releases its latest data on inflation with the PCE, or personal consumption and expenditures report, for July. The hope is that the data shows inflation easing further — or at least stagnating — so

a ruling that allowed the department to proceed with a provision allowing for lower monthly payments.

Republican-led states had asked the high court to undo that ruling.

But after the 8th Circuit blocked the entire plan, the states had no need for the Supreme Court to intervene, the justices noted in a separate order issued Wednesday.

The Justice Department had suggested the Supreme Court could take up the legal fight over the new plan now, as it did with the earlier debt forgiveness plan. But the justices declined to

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that Fed officials remain comfortable cutting interest rates at their September meeting as they've strongly suggested they would. Economists expect the PCE, which is the Fed's preferred measure of inflation, to show that inflation edged up to 2.6% in July from 2.5% in June. It was as high as 7.1% in the middle of 2022. The rate of inflation has been easing steadily back toward the central bank's target of 2% since then, following the Fed's aggressive interest rate hikes.

"This is a recipe for chaos across the student loan system," said Mike Pierce, executive director of the Student Borrower Protection Center, an advocacy group. "No court has decided on the merits here, but despite all of that borrowers are left in this limbo state where their rights don't exist for them," Pierce said. Eight million people were already enrolled in the SAVE program when it was paused by the lower court, and more than 10 million more people are looking for ways to afford monthly payments, he said.

FLAGS fly on the side of the New York Stock Exchange with Trinity Church in the background on Wednesday, Aug. 28, 2024, in New York.

Photo:Peter Morgan/AP

THE TRIBUNE SECTION C RELIGION

RELIGIOUS NEWS, STORIES AND CHURCH EVENTS

'I Believe'

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net

WITHIN the church halls of St Andrew’s Presbyterian Kirk, the echoes of hope and faith will soon resonate through a powerful choral performance.

Under the patronage of Rochelle Wilkinson, president of the Cancer Society of The Bahamas, the diocesan chorale is set to present 'I Believe' on Saturday, September 21, beginning at 7pm.

This event, blending music and meaning, promises to uplift the spirits of all who attend, celebrating resilience, faith, and the unwavering belief in the power of community.

Organisers noted the Diocesan Chorale, a nondenominational group of seasoned singers, has performed worldwide, but on Saturday, September 21, they will bring their talents to St Andrew's Presbyterian Kirk.

“With the theme 'I Believe', this concert will feature an array of inspirational songs and raise proceeds for the Cancer Society's Cancer Caring Centre, which provides free accommodations and transportation to Family Islanders undergoing cancer treatment in Nassau,” noted organisers.

Cancer is a leading cause of death worldwide, accounting for nearly ten million deaths in 2020, reported by the World Health Organization.

The disease has affected many families in The Bahamas with some patients having to go through extensive chemotherapy and treatment once diagnosed.

The Cancer Caring Centre through the years has provided comfort to many who have been afflicted as well as educating others about the importance of early detection of cancer.

The centre provides housing specifically to those from the Family Islands in need of treatment in Nassau. Due to the high demand for availability at the CCC, the Cancer Society have put in place plans in the making for a second phase of the Cancer Caring Centre Expansion Project.

Currently there are only ten rooms available at the Cancer Caring Centre. For all those interested, tickets for The Diocesan Chorale event are available at the Cancer Society Headquarters from Mondays to Fridays between 8am and 5pm.

Spiritual leaders form alliance

By JEFFARAH GIBSON

Tribune Features Writer

jgibson@tribunemedia.net

SPIRITUAL leaders from around the country have formed a new alliance they believe will help propel the country forward and restore the moral compass that has been lost.

Kingdom Jubilee Alliance (KJA) is made up of a group of ministers in what they believe to be a defining moment of the nation's history.

The group hopes to help rebuild the walls of worship and praise, free of personal agendas, pride, rebellion and control by the world’s system.

Pastor Glen Rolle, president of KJA, said the group will combine their talents and gifting to make an impact on communities.

The Kingdom Jubliee Alliance, Bishop Sanford Rolle

Sr (secretary), Bishop Stefan Russell (treasurer), Pastor Franky Camille (council member), Apostle Joseph Cox (council member), Dr Sandra McDonald (council member), Minister Kimberly Minors (council member), Minister Nathan Russell (council member) and Dr B Anthony Young (council member).

“We are a diverse group of individuals with gifts, talents, and abilities that are being harnessed by God’s Holy Spirit for the purpose of reconnecting to the foundational truths as documented in the preamble to the constitution of the Commonwealth of The Bahamas.”

Pastor Rolle said they are summoning a new generation of leaders to come forward and take the mantle.

“Here we are 51 years later, the dawn of a new era, the early beginnings of a new cycle,

summoning a new generation of Bahamians to take up the mantle of leadership for the continuation of our national pilgrimage.”

“It was at the Clifford Park gathering on July 9, 1973, that Rev Dr RE Cooper, Sr, in his prophetic decree, assured us that ours was a nation that would show the nations of the world that independence through God is the blueprint for successful nation building. Fifty years later, now is the time to summon a new generation of Bahamians to become possessors of the vision promised by God and our forebears to a people once enslaved,” she said.

"Kingdom Jubilee Alliance embraces this foundational declaration and blueprint for nation-building as outlined in the preamble of our Constitution by our forebears to be sacred and fundamental to the

success of future generations of Bahamians.”

KJA is a group of Kingdom Citizens called to highlight and speak to issues of national importance, provide resolutions, and promote the Kingdom of God lifestyle.

Pastor Rolle said: “We believe that the walls of security and protection provided by God will remain burned, charred, barren, and lifeless until the purity of worship and devotion is restored by our people and their hearts are turned away from their self interests and agendas. We have been called to stand in the gap and recommission the work of rebuilding, under the leadership and guidance of the Holy Spirit.

Our vision KJA is dedicated to rebuilding and positioning The Bahamas as the nation where all other nations can witness a model of the Kingdom of God on Earth.”

The mission is of the alliance is to re-educate the nation through training and human development initiatives that highlight the Kingdom of God and its relevance to our 21stcentury world.

“We want to stay abreast of all socio-economic, political, legal, community, and national development issues that impact the nation and our constitutional legacy as a sovereign, selfdetermined people. We want to preserve and protect our people and youth from exposure to foreign values and lifestyles that are repugnant to and inconsistent with our core values, rights, and privileges as enshrined in the preamble to our Bahamian constitution," said Pastor Rolle, who added they are embracing all organisations that desire to be in covenant with and pursue a similar vision.

BISHOP SANFORD ROLLE SR BISHOP STEFAN RUSSELL

PASTOR FRANKY CAMILLE APOSTLE JOSEPH COX

DR SANDRA MCDONALD MINISTER KIMBERLY MINORS MINISTER NATHAN RUSSELL

DR B ANTHONY YOUNG GLEN ROLLE