GB Power ‘not taking any chances’ for 2025
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
GRAND Bahama Power
By NEIL HARTNELL Tribune Business Editor
THE newly-launched electric vehicle dealership headed by Sebas Bastian yesterday pledged to deliver “innovation, choice and fair pricing” while blasting a rival’s “fear-mongering smear campaign” against it.
EV Motors, in a statement hitting back at concerns voiced by Easy Car Sales in Wednesday’s Tribune Business, rejected the latter’s accusation that it was holding itself out as the Bahamian authorised dealer for two electric vehicle brands - BYD and Geely - that its rival has exclusive representation rights for on new autos.
Slamming this as “untrue, baseless, unfounded and designed to mislead the Bahamian public”, EV Motors also sought to answer Easy Car Sales’ charges that it is not offering manufacturer-supplied warranties on the vehicles it sales and that consumers will struggle to install their apps because they are not compatible with autos intended only for the Chinese domestic market.
EV Motors, which is based on Tonique Williams Highway and chaired by the Island Luck chief, countered that “warranties are local by nature” regardless of who is providing them while asserting that it s fully-equipped to meet all consumers’ post-sale needs. And it described the app concerns as “exaggerated and misleading” in branding any compatibility issues as “minor differences”.
However, Pia Farmer, the Easy Car Sales partner, yesterday retorted that EV Motors “doth protest too much”. Arguing that its statement was more notable for what it did not say, she said her rival had both confirmed it is not an authorised dealer for the two vehicle brands Easy Car Sales has exclusive rights for and that it does not provide manufacturer warranties (see other article on Page 1B). Still, EV Motors alleged that its rival - which has been in the electric vehicle business since 2016 - was motivated by a desire to blunt the competitive threat that its upstart dealership poses. This, though, was categorically rejected by Ms Farmer who had repeatedly said Easy
Company is “not taking any chances”, its top executive is pledging, as it bids “to never experience another summer like we had” with demand set to rise by up to 10 mega watts (MW) in 2025.
Dave McGregor told Tribune Business that the utility’s largest generation unit, whose repeated mechanical failures were largely responsible for the load shedding and electricity outages that plagued Grand Bahama over the summer months, is set to return to service before Christmas after undergoing extensive repairs in Florida.
Confirming that GB Power has now “covered ourselves” sufficiently against further challenges by bringing in 24 MW of rental generation, he added that these units will now enable the island’s monopoly energy supplier to take some of its own engines
out of the front-line for muchneeded maintenance.
Speaking to this newspaper in a recent interview, Mr McGregor, GB Power’s president as well as Caribbean chief operating officer for Emera, the Canadian utility giant and its 100 percent owner, added that it is now “revisiting” its electricity generation plan to make sure all eventualities are covered in time for summer 2025’s peak load demand as he conceded “there’s a lot of work to do” to ensure sustained reliability. And, with major investment projects such as Carnival Cruise Line’s $600m Celebration Cay private port set to begin operations next year, along with construction
on Weller Development’s Six Senses resort, Mr McGregor forecast that GB Power will need to supply an extra 5-10 MW of power by mid to end-2025 to meet this new demand.
However, while this might place further pressure on GB Power’s generation capacity and reliability, Mr McGregor said the additional large customer are not all bad as their arrival will enable the utility to spread its fixed cost base over more subscribers and thus ease any pressure for rate hikes beyond those it is seeking approval for with its 2025-2028 tariff proposal.
GB Power acknowledged to key stakeholders and customers during a recent
meeting that it will have to work hard to regain their trust, and Mr McGregor told Tribune Business: “We know our customers had a bit of a rough summer with reliability as we did. We have a plan, communicated that plan, are committed to that plan and are making sure our key stakeholders are committed to that plan.”
GB Power’s generation reliability and output has been “pretty stable since October 2”, with the summer outages and load shedding sharply reduced if not eliminated, and he added: “We’ve been really tracking it intensely. It’s back on track, but we still have a lot of work to do to make sure that reliability is sustained in years ahead.” Mr McGregor attributed the summer woes to repeated
Auto dealer brands gouging ‘impossible’ with price control
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A BAHAMIAN electric vehicle dealer yesterday slammed a rival’s accusations that it is “price gouging” consumers as “ridiculous” and impossible because all vehicle sales in this nation are price controlled.
Pia Farmer, partner in Easy Car Sales, told Tribune
Business that the claims by EV Motors have no merit as the Government price controls imposed on vehicle margins and mark-ups prevent all auto dealers from passing excessive charges on to purchasers.
Asserting that her dealership has “never had any questions” despite receiving regular visits by price control inspectors, she described the allegations by the upstart
dealership chaired by Sebas Bastian, the Island Luck chief, as “silly” and something that was easily refuted based on how Bahamian auto industry regulations function.
Ms Farmer spoke to this newspaper after EV Motors, stung by concerns she voiced earlier this week about its own practices and operations, accused Easy Car Sales of unfair pricing and engaging in anti-competitive behaviour to
protect what it branded as a “monopoly”.
“Unfortunately, instead of competing fairly, our competitors have resorted to false, ugly and malicious misrepresentations, attempting to undermine our mission and protect their excessive profits,” EV Motors blasted in a statement sent to this newspaper.
Bahamian companies told: Get ahead of Trump tariff ‘shocks’
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
BAHAMIAN companies have been urged to seek out new source markets and supply chains given the likely “shocks” and “deleterious impact” that Donald Trump’s proposed tariff measures will have.’
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC, in a statement to Tribune Business, warned its members and the wider private sector to prepare now and get ahead of the protectionist trade measures that the US-president elect is pledging to swiftly enact following his January
20 inauguration and return to the White House. And, apart from looking for alternative product sources and making different logistical arrangements, the Chamber added that the tariff threat also highlighted
By FAY SIMMONS Tribune Business
BAHAMIAN petroleum retailers yesterday voiced optimism that their recent margin increase is the “start of more reform” with the rise having brought “much-needed relief” to the struggling dealers.
Vasco Bastian, the Bahamas Petroleum Retailers Association’s (BPRA) vicepresident, told Tribune Business that the upcoming Christmas holiday season will be a “lil’ bit better” for the industry after the Government granted their first margin increases since 2011.
The increases approved by the Government raised the margins to 79 cents per gallon of gasoline, as opposed to the previous 54 cents, and 50 cents for diesel, representing 46.2 percent and 47 percent rises respectively. The increases took effect from early October.
“It’s going good, it’s a much-needed relief. Christmas will be a lil’ bit better for everybody - for the employees, the dealers, everybody directly and indirectly in the petroleum business,” said Mr Bastian.
“We can no longer say that we haven’t gotten an increase in years. We can
MCGREGOR
DONALD TRUMP
MAKING THE MANAGEMENT LEAP A SMOOTH TRANSITION
Transitioning from an employee to a supervisor is a sig-
nificant and transformative journey in one’s professional career. Stepping into a management position brings myriad challenges and opportunities for growth as former peers become direct subordinates and the dynamics of workplace relationships undergo a profound shift. This transitional phase requires individuals to navigate uncharted territory, balancing the fine line between approachability and professionalism while also mastering the art of effective delegation and conflict resolution. This week’s column provides tips for employees facing this new challenge. Here are eight suggestions:
1. Discuss the change with your team
Ease into your transition by taking some time to chat with your colleagues. Let them know that you are taking on a new role and share what your new responsibilities are. Use this
as a time to explain how you plan to manage their work and help them set goals. Explain what your expectations are as a supervisor and that you are available for support or advice as your team needs it.
2. Ask for feedback
Becoming a supervisor is a major change in your career. Asking for feedback from your team members can help you learn your strengths and weaknesses as a leader. If your company has additional supervisors, ask them to assess how you are doing as a leader. Getting this feedback can help you implement changes to your work style and continue doing what you excel at.
3. Seek advice from other leaders
If this is your first time working in a leadership position, see if you can meet with other management executives to get their advice. Offer to treat them to a coffee so that you can ask them important questions for your new position. Learn what their biggest
struggles are as a leader, and what they wish they would have known when first taking on the position. Building your own support system is essential to your success in a new role.
4. Treat your team members equally
Before becoming a supervisor, you may have developed close relationships with some of your colleagues. As a supervisor, you need to ensure you are avoiding any favouritism based on these previous ties. Instead, see this as an opportunity for a fresh slate with each of your team members. Give everyone a fair chance to prove they have the skills to excel in their roles. When assigning work or giving performance reviews, you need to be as objective as possible. Rather than feeling inclined to give your friends more exciting tasks, make sure you are being an ethical and egalitarian leader.
5. Be respectful and professional As a supervisor, you are responsible for creating
a harmonious workplace. Instead of feeding into gossip, you need to ensure you are only saying respectful and kind things about your colleagues. It is up to you to set a good example for your team, making it important to be respectful and professional at all times. Make sure you are keeping what your colleagues tell you confidential, especially if they are expressing their concerns in confidence. Show your team members that you are a trustworthy and supportive leader.
6. Ask for training materials
When starting out in your new role, there is going to be a lot to learn. Make sure you are getting the training materials you need from your predecessor or human resources department. If you accept this role before your previous supervisor moves on, ask if they can do some hands-on training with you. This way, you feel prepared to fully take on your new leadership role.
7. Show your confidence
Taking on a new role can be a challenge, but it is also an exciting opportunity to advance your career. As you continue to become more comfortable as a leader, try to show your team that you are confident and capable of what you need to do. Walk into the room with a positive demeanour, greeting your team members and asking how they are doing. Be willing to give presentations and speak up during team meetings. This is the time to prove that you deserve your new role.
8. Set goals and expectations
Make sure you are setting clear goals and expectations for yourself along with your team. By regularly discussing targets you want to achieve with your team, you can ensure everyone is understanding what they need to do to help find success. When helping your team members set goals, use the SMART method. This means that each of their goals is specific, measurable, attainable, relevant and time-bound. By using this method, you can help people set better, more realistic goals.
Law firm’s senior partner’ named in four directories
THE McKinney, Bancroft & Hughes (MB&H) law firm has announced that its senior partner, John F. Wilson KC, has been ranked in the top tier of attorneys in four major legal directories.
Mr Wilson was ranked in Chambers, Chambers High Net Worth, The Legal 500 and IFLR1000. “The legal profession demands unwavering commitment, and I am proud to contribute to advancing standards of excellence both locally and internationally,” said Mr Wilson. “Being recognised by these leading legal directories is an honour and it reflects not just my efforts, but the exceptional support and collaboration of the team at McKinney, Bancroft
AUTO DEALER BRANDS GOUGING
“They have spread misinformation in a desperate bid to maintain the status quo, prioritising their financial gain over the interests of Bahamian consumers. Interestingly, notwithstanding their fear-mongering smear campaign, they have reduced their prices after years of price gouging the Bahamian consumers....
“The days of monopolies and price gouging practices are over. EV Motors is here to stay, and we will continue to champion a fair, sustainable, eco-friendly and consumer-focused automotive market in The Bahamas.” However, Ms Farmer yesterday hit back by arguing that price gouging on vehicle sales is impossible in the Bahamian auto industry because of
government price control regulation.
“Any car dealer in this country knows there is price control on vehicles,” she told Tribune Business
“That claim is ridiculous. There is price control on the vehicles, and price control comes to visit us on a regular basis. How could we be gouging the market on car pricing? How could we be doing that when there is price control.
“That comment is ridiculous because there is price control on vehicles. Any claim of us cheating the Bahamian public is false because there is price control on those vehicles. Price gouging is such a silly term for anyone in our business. If you are in the car business you know we have price controls, and price control visits us regularly.
We’ve never had any questions with regard to pricing.”
As for the rest of EV Motors’ statement, Ms Farmer replied: “Me thinks they protest too much.” Describing its response to her concerns as a “diatribe” and emotional reaction, the Easy Car Sales partner argued that it was more notable for what it did not say and what she described as its disguised admissions. Ms Farmer argued that, besides confirming it is not the authorised Bahamas dealer for BYD and Geely, two brands for which Easy Car Sales has exclusive rights when it comes to new electric vehicles, EV Motors also affirmedwithout directly admitting it - that it is not a provider of manufacturer warranties for the vehicles it is selling.
And she also noted that it did not refute her assertions that it is selling second-hand vehicles that were supposed to be for the Chinese market only and
& Hughes.” Chambers and Partners, ranks leading law firms and lawyers in more than 180 jurisdictions.
This year, it gave Mr Wilson a Global Guide ‘Band 1’ ranking in General business law: Dispute resolution, and a high net
not sold into international jurisdictions such as The Bahamas.
“It’s a diatribe, very emotional, but there are some facts to discern from this statement,” Ms Farmer told this newspaper. “What can we glean from the diatribe? We glean that they are not the authorised BYD or Geely dealer. It would be good to let their sales team and marketing team know so they could be clear in their advertising.
“BYD was there [at EV Motors] and had recorded what they were told. They have the information. They gathered the information. They came out having been told they [EV Motors] were the authorised dealers for BYD. It’s good that they admit in this statement they are not the authorised dealers for BYD and Geely.
“And they did not deny those are domestic Chinese vehicles sold for re-export,” Ms Farmer added. “They did not deny those were Chinese domestic vehicles,
a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organisations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@ coralwave.com.
worth guide ‘Band 1’ ranking in Offshore: trusts. The firm also retained its ‘Band 1’ rating in Chambers’ High Net Worth guide. The Legal 500 also named Mr Wilson as a ‘leading partner’ in the Caribbean, and recognised the firm for its outstanding work in dispute resolution, real estate and corporate law. And the IFLR1000, the guide to the world’s leading financial and corporate law firms and attorneys, ranked McKinney, Bancroft & Hughes as a ‘top tier’ firm and awarded Mr Wilson with the prestigious ‘highly regarded lawyer’ ranking.
supposed to be destined for the Chinese market only, being resold in the Bahamian market. They are second-hand vehicles. They are not made for the international market
“They also do not have a manufacturer warranty from their manufacturer. Easy Car Sales has the manufacturer warranty direct from BYD. That’s why we’re the first port of call for the customer. That statement [by EV Motors] shows all that’s being provided by a local company is their warranty, not the manufacturer’s warranty. That validates the points that were brought up.”
EV Motors had accused Easy Car Sales of writing to banks and insurance companies to dissuade them from doing business with it. However, Ms Farmer told this newspaper that the letter was written by BYD to confirm Easy Car Sales was its sold authorised dealer in The Bahamas, and that the brand asked it to distribute the document to anyone who was relevant.
“BYD wrote a letter and asked us to send it to anybody who was relevant,” she added. “It was sent to anyone and everyone; the industry and businesses. We see it as our role to keep the public informed. Time is longer than rope and we will see how they go. We will continue to inform the
Bahamian public so that they can make the best and most informed choice. Their diatribe is very aggressive, and has lots of claims and promises.”
EV Motors, in its statement, said it has “invested in excellence”. It added:
“EV Motors was founded to empower Bahamians by providing affordable, eco-friendly, high-quality and stylish electric vehicles. Our vision is clear: To drive the ‘green revolution’ in The Bahamas by making sustainable transportation accessible to all.
“We are an independent Bahamian dealership, proudly offering a diverse range of electric vehicles at the best possible price to meet the needs of Bahamian consumers. We invest in excellence. We have invested in factory-grade parts, best-in-class warranties, cutting-edge diagnostic tools, repair facilities and globally trained technicians so our customers will enjoy the highest after-sales care and support standards in the industry.
“Our repair centre will provide service to all electric vehicle cars, whether purchased from EV Motors or not, unlike our competitors, whose sole aim appears to be to ring-fence the industry to protect their profits.”
ANDROS CHAMBER CHIEF SAYS: ‘SCOTIABANK HAS FORSAKEN US’
By FAY SIMMONS
THE Andros Chamber of Commerce president yesterday asserted that “Scotiabank has forsaken us” amid ongoing struggles to access banking services after the area’s sole ATM was vandalised nine months ago.
Darin Bethel told Tribune Business that digital payments providers are the sold suppliers of banking services to the private sector in North and Central Andros with hope waning that the Scotiabank automated teller machine (ATM) will be repaired.
“Scotiabank has forsaken us,” said Mr Bethel. “Sun Cash is taking the lead and has been expanding tremendously throughout the community. They are all across Andros really. Sun Cash has been working hard to have services available in the area. They have been putting in new at new machines all over.
“Kanoo also has a presence here, and so the digital banking services, that’s what people are basically relying on.” Mr Bethel said the situation is reaching a “breaking point” as visitors to the island often voice frustration about lack of access to cash as they tour the destination.
He added that, just this week, a pilot from Freeport complained to him that
doing business in Andros is “so hard” due to difficulties accessing cash and banking services.
“Just this week a pilot from Freeport was telling me it’s so difficult to conduct business in Andros. He said the state we are in is so sad because people have to go over to do business, or send sensitive things like ATM cards just to do their banking… and I agree… it is a sad state of affairs,” said Mr Bethel. He added that the only service Scotiabank currently offers to Andros is a deposit drop box for businesses.
The Andros Chamber chief said the commercial bank has “neglected” its responsibility to provide banking services to the community
by failing to repair the sole ATM. “Scotiabank has neglected their duties and responsibilities as a bank.
All they are doing now is collecting money from businesses,” said Mr Bethel. “That’s the only service they’re providing; the cash drop box for businesses. They send people down three times a week to collect the money from the Dropbox, but they refuse to fix the ATM so people can make personal deposits and get cash.”
Mr Bethel argued that businesses face difficulties obtaining loans from Scotiabank as they have to travel to New Providence to meet with a representative there, so “obviously” the funds the bank is collecting from businesses in Andros are being
spent in another district. He added that perhaps another banking institution would “be more inclined” to provide services to the area if Scotiabank discontinues “standing in the way”.
“They taking the money and using it in a different district, obviously, because they aren’t lending to anybody here. Nobody gets a chance to meet with them.
If you want to see them you have to go to Nassau,” said Mr Bethel.
“Right now, they are standing in the way and not providing adequate service to the community. Maybe if they move altogether another banking institution would be more inclined to take the chance to come over.”
Two-speed real estate market still sustaining
By ANNELIA NIXON Tribune Business
THE Bahamas continues to have a two-speed real estate market with industry operators yesterday voicing optimism that the concluded US presidential election will further boost international buyer demand.
But, while international demand for high-end Bahamian properties remains robust, the local segment according to some realtors is struggling with many Bahamians unable to meet asking prices or qualify for the necessary financing.
Christopher Adderley, agent for Maison Bahamas Real Estate, and Mikhail Barnett a real estate agent Condo Vikings & Jolie Luxury Homes, both agreed that Donald Trump’s return to the White House will impact the Bahamian real estate market.
Mr Adderley said 2024 has been “slower” due to the US election with investors and buyers taking a cautious, wait-and-see approach until the outcome was known and they got a better sense of the policy direction the new president is set to take.
“So, as we know, it’s an election year in the US, so for a good majority of the year things have been a bit slower,” Mr Adderley said.
“We found that a lot of international clients were in a sort of wait-and-see holding pattern since the election. I won’t say that any floodgates have opened just because, as we know, inauguration won’t be until January.
“So what I’m hearing from a lot of clients is that they would be
more comfortable moving forward in the Spring, essentially after January. Right now the market is moving a little slower than usual, but it is certainly moving. I think it’s just uncertainty in general. You have folks that may be on one side of the divide or another, and just the idea that there could be such a radical shift from one side or another.
“And even as important as the past election was for the US there are a lot of things that are likely to change in terms of policy in terms of, you know, disposable income and taxes and all of the like. So that really sets people in a way that does not allow them to be as forthcoming with any expendable funds,” Mr Adderley added.
“For the most part, they want to sit back and just kind of read the room and see what’s going on, see what’s happening, and make a decision once the tides would have turned, per se, then go ahead and make such a big decision, because it is, in fact, a huge decision to decide to purchase property in another country when you’re not exactly certain of the trajectory of your own country.”
Mr Barnett added:
“When you look at different predictions on the stock market, when you look at the predictions on real estate websites, like really, really good ones that predict the market pretty well, it shows that there will be an increase and whenever you have disposable income, there’s always going to be money spent.
“Even if it’s not in the real estate market, it somehow trickles over into every single industry, the real estate market included. When Trump became president-elect, the stock
markets went up… All those markets increased. So when we talk about individuals who control different investor portfolios, they also won’t have disposable income in the millions and they may want to invest, of course, which is always attractive.”
Mr Barnett said he has enjoyed a positive year for sales and is now starting to see more activity, which is normal given the approaching Christmas season with “a lot more home buyers shopping around, a lot more offer letters going out. I’s just like New Year’s resolution.
“In some cases you will see the luxury market, which is always attractive, it’s always a steady flow of sales going on,” he added, “and then you also have that core market, which is your average median priced homes at around $300,000 to $500,000.
“Sometimes it’s doing pretty good, sometimes the market could be slow. But around this time, this is normally when we start seeing a lot more leads, a lot more home buyers shopping around, a lot more offer letters going out. I’s just like New Year’s resolution. Persons want to move into their new home for the New Year.”
However, Mr Barnett agreed that The Bahamas is indeed experiencing a housing crisis in its domestic market with many unable to afford their own home. He added that about 40 percent to 50 percent of Bahamians can afford the average price of a home, which ranges between $200,000 and $300,000, but there is a significant number who cannot afford anything higher than that.
Mr Barnett said “inventory goes fast” and many properties are “going to
be off market within three to six months for sure”. He added: “When we talk about a local market, Bahamians just have to be able to make more money. Because banks tend to look at how long you stay on a job, and the type of job, the type of profession, it is as well.
“So if banks could kind of be a little bit more lenient on policies, on how they qualify persons and how much they could loan that person, that individual. I feel like the bank could be lenient and then it all comes down to being able to make more money.”
Broker and appraiser, Claudius Burrows, who caters mostly to the Bahamian market also believes financing is a challenge for locals. However, he attributes that to persons not saving money.
“The biggest challenge in the market is money,” Mr Burrows said. “Most people want certain things, but they don’t save money. We have to programme people now that they save at least 25 percent of what they make. That is the problem with The Bahamas today. Most Bahamians don’t like to save money. Now, the new Bahamians, I call them new Bahamians, most of my sales are the new Bahamians.
“I talking [about] the Bahamians what born in other countries like Haiti and what not, and they got Bahamian citizenship and they buying. They buying, they buying, they buying and they buying.”
Mr Barnett told Tribune Business that he likes the proposal from Gowon Bowe, Fidelity Bank (Bahamas) chief executive, which involves the private sector and the Government working together to create a real estate investment trust (REIT). He added: “I already like the idea of creating single family homes or creating the traditional architectural style of homes. They can’t exist no more. We have to create complexes like condominiums. You see on
Commercial banks have progressively withdrawn from the Family Islands over the last ten to 15 years, citing the high operating costs and negative returns associated with maintaining a physical branch presence that results in them incurring losses.
The residents and business owners in North and Central Andros have voiced their frustration with the lack of banking services several times, noting that with the increased economic activity on the island commercial banks could make a return. Scotiabank representatives could not be reached for comment yesterday.
Cable Beach, like Goldwynn, where you could take a property and then you could go up 20 storeys and have a 65-unit complex.
“So now that single property is able to supply a home to 65 different families versus putting one - or maybe putting four town houses on a propertynow you only could sell that home to four different families versus a 65-unit condominium.
“So that’s a good idea. It’s a starting point at least. The talk is there to create some sort of opportunities, but we have to create different styles. We have to upgrade the architect. You know, we have to look at what Goldwynn is doing, what Aqualina is doing in bringing that affordability price down.”
Sebas’s electric vehicle dealer slams ‘fear-mongering’ rival
Car Sales welcomes competition as a means to grow the market and electric vehicle use provided it is done in the right way.
Mr Bastian’s dealership, though, also promised to invest $750,000 in developing a “world class” electric vehicle charging infrastructure “to serve all Bahamians” and not just its own customers, while adding that the latter will receive “the highest after-sales care and support standards in the industry”.
Launching an aggressive and vigorous defence of its business, EV Motors blasted Easy Car Sales’ concerns as “baseless and desperate”. It added: “These accusations falsely claim that EV Motors is holding itself out as an authorised dealer for BYD and Geely. We categorically reject these claims as untrue, baseless, unfounded and designed
to mislead the Bahamian public.”
It then accused Easy Car Sales of writing to Bahamian banks and insurance companies with similar allegations in a bid to discourage them providing vehicle buyer financing and coverage. Ms Farmer, though, said the letter was written by BYD to merely inform persons that her dealership was the exclusive Bahamas representative for the brand.
“We are writing to inform you that we have found that there are persons importing BYD brand vehicles and parts into The Bahamas who are not authorised distributors of BYD Auto Industry Company. These vehicles and parts that are imported and sold by persons who are not authorised distributors are not covered by BYD’s manufacturing warranties and may not be suitable for the local market,” the letter added.
Ms Farmer said Easy Car Sales had distributed the letter to all those it thought needed to see it, but EV Motors yesterday asserted it has managed to counter any negative fall-out.
“We have met with the leading insurance companies to explain our mission and warranties, and we are gratified that the Bahamian banks and insurance companies have seen through this ugly, fear-mongering smear campaign and dismissed these bogus claims. The banks and insurance companies continue to finance and insure vehicles purchased through EV Motors,” it added.
Turning to the warranty concerns, EV Motors said:
“Our competitor suggests that their warranty is ‘superior’ to those of EV Motors. Here are the facts: Warranties are local by nature. Whether a car is sold by EV Motors or an authorised dealer, warranty claims are handled locally - not by
GB POWER ‘NOT TAKING ANY CHANCES’ FOR 2025
mechanical breakdowns suffered by GB Power’s largest generating unit, Unit 33, which has the capacity to produce 18 MW and account for a significant portion of Grand Bahama’s 60 MW-plus peak demand during that period. It was initially repaired and restored to service, only to swiftly and unexpectedly fail again.
“The turbo charger failed,” the GB Power chief explained. “We brought that back to service but, unfortunately, we had a second failure with the same turbo charger a few weeks later.
We’re projecting that unit to be back before Christmas in mid to the third week of December.
“The parts are being rebuilt in Florida, and we should have them back or installed shortly. Unit 33 should be back up and running before Christmas.”
Mr McGregor said GB Power’s peak load demand typically falls to the mid-30
MW range during the cooler winter weather, thus easing the generation demand strain.
“We’ve covered that,” he added of Unit 33’s 18 MW output. “All that rental generation we have in service, we have 24 MW of rental generation in place. We’re not going to leave it to chance. We will have issues from time to time with mechanical equipment, so we’ve made sure we have plenty of coverage so that we don’t experience the issues we had in the summer.
“We’ve still got a lot of work to do. We’ve got a lot of maintenance work to do on our engines. We’re waiting for some parts, but we’ve covered ourselves with temporary generation. It was late getting here, but we now have cover for all the units that need maintenance. We have a bit of work to do, but I’m comfortable we will not have the load shedding that we had in summer because we
have the cover of temporary generation.”
Still, Mr McGregor confirmed that GB Power is “having another look at our 18-month generation plan” to ensure there is no repeat of the frequent outages and load shedding endured by Grand Bahama residents and businesses during the summer months.
“We’re seeing a bit of load growth in Freeport,” he added. “We’ve revisited our 18-month generation plan. We think we will need more generation in before next summer. Whether that’s temporary generation or we purchase our own generation units, we are still working that out, but we will make sure we never experience a summer like we had... with reliability so we will be shoring up generation.”
Increased electricity demand associated with economic growth driven by major investment projects is only adding to the urgency of this effort. Mr McGregor acknowledged
shipping vehicles back to the country of origin.
“The core process involves diagnosing the issue, sourcing the required parts and conducting repairs at a local service facility. At EV Motors, we are fully equipped with OEMcertified diagnostic tools, factory-grade parts and globally trained technicians to provide after-sales service that meets and exceeds the highest industry standards.
“EV Motors offers a transparent and efficient warranty programme. We ensure that parts are in stock or swiftly sourced from our suppliers, reducing downtime and maximising customer convenience. Our investment in our state-ofthe-art repair facilities on Independence Drive underscores our commitment to providing best-in-class service to every EV Motors customer.”
As for the incompatibility of apps desired by Bahamians, EV Motors added:
“Our competitor’s claim that third-party apps are unavailable on cars sold by EV Motors is exaggerated and misleading. Every EV Motors customer enjoys access to an impressive and wide selection of third-party apps. The infotainment system is world class.
“While our competitor may seek to engage in fearmongering by exaggerating minor differences in thirdparty app compatibility, EV Motors focuses on empowering consumers to make informed choices. Informed choices mean the consumer can choose whether or not to spend an additional $20,000 for a specific thirdparty app on the same car.”
Pledging to provide electric vehicles at “the best possible price” to Bahamians, EV Motors instead argued that Easy Car Sales was engaging in anticompetitive practices by seeking to undermine its business prospects through the concerns it is spreading.
It added that “the days of monopolies are over”.
“We call on the public to recognise this campaign for what it is - a malicious anticompetitive attempt to stifle innovation, choice and fair pricing in the auto industry and protect the big fat profits of a... few,” EV Motors added.
“At EV Motors, we refuse to be distracted by these baseless attacks. We remain steadfast in our mission: To offer Bahamian consumers the best ecofriendly vehicles at the best possible prices, paired with exceptional after-sales care and support....
“EV Motors will sponsor educational symposiums and seminars on ‘green technology’ and support a technical academy to up-skill and train the next generation of Bahamian EV technicians to enable the servicing of cars sold by EV Motors or any other dealer.”
that “it all adds up” with Carnival’s port project likely to require “a couple of MW” and meetings planned with the Six Senses development to “understand the load there”. Grand Bahama Shipyard’s two new dry docks will further add to energy demand.
“I think there’s a good 5-10 MW there that needs to be secured by the middle to end of 2025,” he told Tribune Business. “The completed Celebration Cay, we look forward to that. We already have supply to them for construction. More people pay less for power, not less people pay more. It’s that volume that helps to stabilise rates.”
Mr McGregor added that GB Power’s mobile
sub-station, which he described as “switches and transformers on a truck”, will provide the utility with greater “flexibility” and the ability to swiftly replace fixed sub-stations that may be damaged during future hurricanes.
Noting that there are eight to nine existing substations on Grand Bahama, he said: “If we have a failure with one of those, which could be a switch gear or transformer, the mobile substation could deploy to that location and give us a lot more flexibility. “It could give us much more flexibility in future storm recovery efforts if we lose a sub-station because of hurricane damage. It could be wheeled into place to
provide sub-station services anywhere. It’s a flexible asset.”
Mr McGregor conceded at the recent meeting with Grand Bahama stakeholders that the utility must work to regain consumer confidence following the summer outages and load shedding. “Over the past months you have faced disruption caused by generation shortfalls,” he said.
“While we have worked diligently to address these issues we do understand that this has not been enough. Today, I want to assure you that we are taking bold steps to rebuild your trust and deliver more reliable and affordable power infrastructure.”
GB POWER HEADQUARTERS
Gas retailers hope margin rise ‘start of more reforms’
now say that the last time we have gotten an increase is under this government. So we are very happy.”
Mr Bastian said he hopes the margin increase will spark further reforms including a switch from a fixed to a percentage-based system. The latter would move in tandem with global oil price changes, remaining unchanged regardless of this volatility, and thus better enable Bahamian petroleum dealers to afford to purchase their inventories.
Mr Bastian said the percentage could be tied to the consumer price index and inflation, which would ease the pressure on the
‘EVERYTHING
By PAOLA FLORES and ISABEL DEBRE Associated Press
Association to keep petitioning the Government for margin increases. “We hope this is the beginning of more reform that will come to this industry. We just don’t want to be an association that is known when we have an issue with gas margins, but we want to be an association that is vocal when it comes to everything and anything dealing with the petroleum industry in this country. We want our seats at the table as this industry continues to grow,” said Mr Bastian. “We definitely want to eventually become, rather than fixed margin, we want to integrate a percentage rate over time. And we also want to tie the margin to the consumer price index
so, as that changes, our margin or percentage rate will also change that way.
“We won’t have to be going to the Government every X amount of years for what we need to survive. As the industry grows, we want to grow with the industry. We want to grow as well as we want to grow with consecutive governments.”
Mr Bastian said retailers are working to make the Association a “well-oiled machine” that speaks for their consumers and brings “value, credibility and professionalism” to discussions involving the sector.
“We want to make sure it’s a well-oiled association who speaks for the motoring public, all persons who use petroleum in their
vehicles, be it gas or diesel and for people who operate heavy equipment. We want to be an active voice; a voice that brings value, credibility and professionalism to the discussions with the table all the time,” said Mr Bastian.
As for feedback from the general public, Mr Bastian said “at least 75 percent to 80 percent” of motorists supported the petroleum retailers’ bid for an increase as they understood their financial plight as a result of having inflexible, government-controlled margins.
“We get mixed reviews. For the most part, I would say at least 75 percent to 80 percent of customers were in agreement with us from day one,” said Mr Bastian.
“We reproduced the evidence to the Government, and they saw and heard our cry, and facilitated our cry after three years. We continue to be appreciative to the Government for doing it. The Christie administration didn’t do it, the Minnis administration didn’t do it, but this government did.
IS EXPENSIVE!’ BOLIVIA FACES A SHOCKING ECONOMIC COLLAPSE
of natural gas. Some of the queues don't budge for days.
FUEL is rapidly becoming one of Bolivia's scarcest commodities.
Long lines of vehicles snake for several kilometers outside gas stations all over Bolivia, once South America's second-largest producer
While frustration builds, drivers like Victor García now eat, sleep and socialize around their stationary trucks, waiting to buy just a few gallons of diesel — unless the station runs dry.
"We don't know what's going to happen, but we're going to be worse off," said García, 66, who inched
NOTICE
BLU ROCKS LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 210863 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 22nd day of November A.D. 2024.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mrs. Silvia Fernanda Giacomet, whose address is 1826 0 r. Parana. 101 NE Casa Centro, Campo Novo Do Parecis, MT, Brazil, CEP: 78360-000. Any Persons having a Claim against the above-named Company are required on or before the 21st day of December A.D. 2024 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the beneft of any distribution made before such claim is proved.
Dated this 22nd day of November A.D. 2024.
Silvia Fernanda Giacomet LIQUIDATOR
closer to the pump Tuesday as the hours ticked by in El Alto, a bare-bones sprawl beside Bolivia's capital in the Andean altiplano.
Bolivia's monthslong fuel crunch comes as the nation's foreign currency reserves plummet, leaving Bolivians unable to find U.S. dollars at banks and exchange houses. Imported goods that were
once commonplace have become scarce.
The fuel crisis has created a sense that the country is coming undone, disrupting economic activity and everyday life for millions of people, hurting commerce and farm production and sending food prices soaring.
Mounting public anger has driven crowds into the streets in recent weeks,
piling pressure on leftist President Luis Arce to ease the suffering ahead of a tense election next year.
"We want effective solutions to the shortage of fuel, dollars and the increase in food prices," said Reinerio Vargas, the vice rector of Gabriel René Moreno Autonomous University in the eastern province of Santa Cruz, where hundreds of desperate truckers and residents flooded main squares Tuesday to vent their anger at Arce's inaction and demand early elections. In a similar eruption of discontent, protesters shouting "Everything is expensive!" marched through the streets of the capital, La Paz, last week. Bolivians say Arce's image has suffered not only because of the crisis but also because his government insists that it doesn't exist.
"Diesel sales are in the process of returning to normal," Economy Minister Marcelo Montenegro
Mr Bastian warned that although petroleum retailers are seeing relief from the margin increase, they must continue to control their operating costs so they can remain competitive and effectively manage their businesses.
“We definitely were seeing the difference. But even though we’ve seen the difference, operators themselves must also continue to try to control their operational costs. For the most part, we’ve seen the impact already,” he added.
“We were a little bit more vocal the last three years, but we’ve been writing. We wrote letters to Dr Minnis, and they never even entertained us. This government entertained us. They saw that our concerns were legitimate and valid, and they helped us and we’re grateful for that. We continue to be grateful for that. Continue to say thank you every opportunity that we get, because it really made a difference.”
said Tuesday. Arce has repeatedly vowed that his government will end the fuel shortages and lower the prices of basic goods by arbitrary deadlines. On Nov. 10, he again promised he would "resolve this issue" in 10 days.
As the deadlines come and go, the black market currency exchange rate has risen to nearly 40% more than the official rate.
Arce's office did not respond to interview requests.
"The queues are getting longer and longer," said 38-year-old driver Ramiro Morales, who needed a bathroom after four hours in line Tuesday but feared losing his place if he went searching for one. "People are exhausted."
It's a shocking turnaround for the landlocked nation of 12 million people that was a South American economic success story in the 2000s, when the commodities bonanza generated tens of billions of dollars under the nation's first Indigenous president, former President Evo Morales.
NOTICE
GLOBAL MINING RESOURCES INC. In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, GLOBAL MINING RESOURCES INC. is in dissolution as of November 27. 2024. International Liquidator Services Ltd. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
The Public is hereby advised that I, DONELLA HANNA JOSEPH, of Fire Trail Road, Nassau, The Bahamas, intend to change my name to DONELLA MURPHY If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O. o , assau, he aha as no later than thirty (30) days after the date of publication of this notice.
PUBLIC NOTICE
The Public is hereby advised that I, CHARNELL CHARLTONIQU JOHNSON of Carvel Beach, Freeport, The Bamas Mother of SAPPHIRE AVA JOHNSON A minor intend to change our child’s name to SAPPHIRE AVA RICHARDSON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Offcer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice. INTENT TO CHANGE NAME BY DEED POLL
NOTICE
NOTICE is hereby given that RAYMOND JN BAPTISTE of #62 Cowpen Road, New Providence, The 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 November, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
Bahamian companies told: Get ahead of Trump tariff ‘shocks’
the ongoing need for The Bahamas to manufacture and produce more at home including food.
With Mr Trump promising to make good on threats to impose tariffs as high as 60 percent on Chinesemade imports, many of which transit the US before coming to The Bahamas, the private sector body confirmed to this newspaper that the result will be inflation and higher prices for both consumers and local businesses.
“The BCCEC has noted and continued to strategise ahead of the possible tariffs as suggested by the Trump administration which, if enacted, would undoubtedly have a deleterious impact on the business community in The Bahamas as we are a heavily import reliant country,” the Chamber said, urging the private sector to be proactive rather than reactive.
“The BCCEC remains concerned about the impact such a move would have on both consumers and the business community as shocks to the bottom line of a business are typically felt through inflation by the systematic increase in the cost of goods and services to customers as a means to offset the loss of revenue.
“This, we feel, highlights the need to identify alternative markets from which to source goods directly rather than importing imported goods from the US as a third party. Moreover, we are encouraging and emphasising the need to produce as much of our basic food needs as possible at home by partnering with organisations like BAIC, BAMSI and the SBDC, which provides the catalyst for support of local farmers who are using cutting-edge technology to maximise space and production capability without compromising quality.”
Besides the Bahamas Agricultural and Industrial Corporation, Bahamas Agriculture and Marine Science Institute and Small Business Development Centre, the Chamber added that it had been working with other government agencies to diversify The Bahamas’ trade relationships beyond over-dependence on the US.
“We have enjoyed an excellent working relationship with the Trade Commission, Ministry of Economic Affairs and Bahamas Bureau of Quality & Standards to curate trade diversification programmes that allow us to access alternative markets like the
South American, Asian, European and African without the encumbrance of middleman price hikes, all the while working through shipping and import logistics to create an environment conducive to mutually beneficial propositions,” the Chamber said.
“Additionally, the BCCEC has led several trade missions and have engaged in meaningful discussions with international organisations like CEDA and JAMPRO, with more on the table for 2025, focusing on bilateral arrangements and trade opportunities for our members to be ahead of the impending challenges that administrative tariffs could impose on our economy.
“We have also welcomed delegates from Indonesia, Malta, Thailand and China who are eager to engage in reciprocal trade of goods and services between our nations. Despite the groundwork, there is much to be done, and we will continue to monitor the proposed changes to help our members be better prepared for the impacts of the same.”
A significant portion of the goods imported into The Bahamas originate in China. Given that Mr Trump imposed tariffs ranging from 7.5 percent to 25
percent on Chinese imports during his first White House stint, his promise to now raise these levies as high as 60 percent cannot be ignored.
Mark A. Turnquest, a corporate consultant and founder of the 242 Small Small Business Association and Resource Centre, told Tribune Business earlier this week that The Bahamas could be plunged back into a renewed cost of living crisis if the US presidentelect follows through on his pledge because this nation imports such a high quantity of Chinese manufactured products.
However, other Bahamian merchants said it was too early to react to the US president-elect’s social media warnings. Brent Burrows II, vice-president of retail and sales at CBS Bahamas, told Tribune Business that while Mr Trump’s proposed tariffs are “definitely something to keep an eye on” it was too early to determine how the issue will play out or any local impact.
“Honestly, I’m not too sure,” he said of any potential fall-out. “From our point of view, and from the vendors we deal with out there, they haven’t put out any official communication that says they’re worried about it just yet. It’s just
too early to say, and we’ll see what happens after the president’s inauguration in January.
“It’s definitely something to keep an eye on and could potentially be concerning. I don’t know. For now, it all just political bargaining, negotiating in the form of tariffs, but I guess we’ll see as we get closer to [Mr Trump taking office]. Keep an eye on it, keep in close contact with your vendors, and it would be useful for people to know to what extent products coming from China pass through the US.”
Mr Turnquest, meanwhile, estimated to this newspaper that “at least 60-70 percent” of products sold locally come from China “directly and indirectly” with a big portion transiting, or passing through, the US. Besides those that arrive on the US west coast, and are trucked cross-country to eastern ports, Chinese goods also transit the Freeport Container Port heading to the US before being returned to The Bahamas. He argued: “We have to bypass America and get goods directly from China.... We know there will be a reawakening of the shipping crisis we had a couple of years ago after COVID, but this will be
done in the form of tariffs. We know when you tax one thing, you then have to tax another thing and then another thing.
“It will be a downward spiral with extra costs and fees,” he warned of the likely Bahamian impact from Mr Trump’s plans.
“We are watching and hoping. We are very, very concerned and we don’t want this to happen. We cannot afford any type of extra inflationary impact with tariffs tacked on because we are already trying to control all sorts of extra costs.
“We are trying to continue to operate and all types of stuff. We don’t need an extra burden. We’re not concerned about Amazon in the short-run, but we are very concerned in the short-run because January 20 is coming and this means we are very concerned about the tariff strategy of Donald Trump,” Mr Turnquest continued.
“It’s going to be detrimental to our businesses. This is a death blow if the Trump tariff strategy is executed. We cannot take that. We cannot cover that extra burden. We just can’t. We hope they take that into consideration.”
MARINE FORECAST
Trump’s tariffs in his first term did little to alter the economy, but this time could be different
By JOSH BOAK Associated Press
DONALD Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries.
The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared.This time, though, his tariff threats might be different.
The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he'll do what he says and what the consequences could be.
"There's going to be a lot more tariffs, I mean, he's pretty clear," said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump's team negotiated during his initial term. But on Wednesday, Trump posted on social media that he had spoken with Mexican President Claudia Sheinbaum and she had agreed to stop unauthorized migration across the border into the United States.
Trump also posted on Monday that Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl.
Democrats and business groups warn of risks from Trump's tariff threats
Business groups were quick to warn about rapidly escalating inflation. House Democrats put together legislation to strip a president's ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries.
Sheinbaum initially said Wednesday that her administration is already working up a list of possible retaliatory tariffs "if the situation comes to that." Similarly, the Canadian government has also started to explore retaliatory tariffs if Trump takes action.
House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans' coming control of both the House and Senate.
"This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs," said Rep. Suzan DelBene, D-Wash.
But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November's election largely involved restraining inflation.
The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world's second largest economy. Biden administration officials looked at removing Trump's tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly.
Tariffs were "so new and unique that it freaked everybody out in 2017," said Stumo, but they are now seen as part of the policy toolkit by the United States and other countries.
Trump's first term tariffs had a modest impact on economy
Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods.
Still, the dispute changed relations with China as
more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its "soft power" as the Chinese population began to watch fewer American movies.
The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs.
Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically.
PRESIDENT-elect Donald Trump speaks at meeting of the House GOP conference, Nov. 13, 2024, in Washington.
Photo:Alex Brandon/AP