01262026 BUSINESS

Page 1


Fight for ex-Ginn project heating up

THE fight to acquire and develop the former Ginn project has intensified after a Bahamian-led investor group paid a $2.6m deposit to purchase 1,143 acres as part of its bid to transform Grand Bahama’s West End into “the Monaco of the Caribbean”.

Tribune Business has obtained independent confirmation that Shane Coakley, the Bahamian principal of Seattle-based Coakley International, has paid a 10 percent deposit as the first step in a $26m deal with The Bahamas’ treasurer to acquire four separate land parcels which formed the core of Ginn sur mer’s real estate development component.

Both sides have 45 days to close the deal under a sales agreement dated December 16, 2025, which means the transaction is scheduled to complete - and the balance of the $26m purchase price be paid - by this Friday, January 30, although this deadline can be extended under certain conditions.

The agreement reveals that the Treasurer is acting as the vendor, or seller, of the four parcels because they were seized and auctioned-off by the Department of Inland Revenue using its powers to collect on delinquent

‘An

affront to all pharmacy owners’

jsimmons@tribunemedia.net

THE Bahamas Pharmaceutical Association (BPA) is slamming as a “gross mischaracterisation” comments by a Cabinet minister that some fees charged for medicines are “arbitrary” and imposed for “no rhyme or reason”.

Dr Marvin Smith, the BPA president, in a statement issued yesterday hit back at Michael Halkitis, minister of economic

real property taxes. However, the deal with Coakley International generates multiple unresolved questions given that there are rivals with competing ownership claims to the same four land parcels.

Multiple well-placed sources, speaking under condition of anonymity, are challenging whether the Treasurer has anything to sell given that much of the real estate that comprised the former Ginn project is caught up in a legal dispute over alleged unpaid real property taxes, and the amount that is owed, which is set to be heard by the Tax Appeals Commission around the end of March 2026.

The tax challenge is spearheaded by Lubert Adler, the investment bank that was Ginn’s former financing partner, and Orlando-based Kingwood International Resorts, which has been attempting to acquire the rights and title to the West End project from it. Given that this battle remains live, and unresolved, several sources are querying whether the Treasurer has obtained ownership and can sell the land to Mr Coakley. Tribune Business has seen documents suggesting that the Department of Inland Revenue exercised its “power of sale”, and

affairs, over remarks that he asserted unfairly suggested pharmacies are taking savings as profits rather than passing them on to consumers - a claim he branded as “factually incorrect and insulting” to the industry.  Mr Halkitis, at a recent Prime Minister’s Office media briefing, said that

Union urges PHA members: ‘Cease and desist’ overtime

A TRADE union leader is warning members at the Public Hospitals Authority (PHA) not to work any more overtime “until such time” as outstanding funds are paid following a crackdown on such compensation after budget allocations were exhausted.

Kimsley Ferguson, president of the Bahamas Public Services Union (BPSU), which represents PHA support staff, clerical workers, laboratory technicians and morgue employees, told Tribune Business he was “very concerned” that members who worked

• Bahamian-led group in $26m land deal with Treasurer

• Sparks questions with upcoming tax appeal hearing

• Doesn’t see ‘any problem’ obtaining Gov’t approvals

Bahamian investor’s $6.5b spend targets ‘thousands of jobs’

A BAHAMIAN investor has unveiled ambitious plans to create thousands of construction and full-time jobs through the $6.5bn transformation of the former Ginn project in Grand Bahama’s West

End into “the Monaco of the Caribbean”. Shane Coakley, principal of Seattle-based Coakley International, which is described as a real estate and investment company, told Tribune Business that the planned nine to 12-year build-out will generate an estimated 2,800

construction jobs and as many as 6,000 permanent Bahamian jobs as he pledged to “see it all the way through”. Speaking after payment of a $2.6m deposit, the first step in acquiring 1,143 acres at the former Ginn site from The Bahamas’

KIMSLEY FERGUSON
DR MARVIN SMITH
RENDERINGS of the hotel/casino and mega yacht marina for Coakley International’s proposed $6.4bn development of the former Ginn project’s site in Grand Bahama’s West End.
SHANE COAKLEY

Dealer: 1,400 electric vehicle drivers save $5m in fuel costs

A BAHAMIAN auto

dealer says 1,400 drivers have saved an estimated $5m in fuel costs since it first introduced electric vehicles (EVs) to this market one decade ago.

Easy Car Sales, in a statement celebrating its 10th anniversary as a 100 percent electric vehicle dealer, said these combined savings on traditional fuel costs have occurred despite the costs associated with these drivers charging their autos.

"When we started this e-mobility journey ten years ago, most Bahamians had never even seen an electric car," said Pia Farmer, director of Easy Car Sales.

"We're thrilled to see how much they have embraced EV. But exponential growth isn’t a goal in and of itself

- for us it's about protecting our environment while empowering Bahamians economically.

"We've grown from a team of eight to a force of 45 talented Bahamians,

Paper systems ‘friction tax’ impairing Bahamas’ growth

A SENIOR CLOUD

Carib executive is arguing that paper-based rituals, and what she described as “digital cosplay” that prevents outdated work processes from being modernised by technology, are imposing a “friction tax” that impairs The Bahamas’ development.

Olivia Dorsett, the cloud services provider’s director of marketing and communications, speaking at the University of The Bahamas (UoB) Harry C. Moore Library auditorium, said

this nation’s greatest barrier is not access to technology but continued reliance on old, outdated paper-based systems that pose a cost and security risk as global standards rise.   She was addressing the ‘Digital shift: Embracing technology in the workplace’ forum, which was co-hosted by the University of The Bahamas (UB) and DigiLearn Bahamas, an initiative designed to enhance digital literacy across The Bahamas.

and we've expanded from our initial location on Gladstone Road to three locations - including our BYD showroom at Marathon Mall, our original Gladstone Road site and

our new location on the highway at Abundant Life Road, which will become our headquarters in 2027."

Easy Car Sales brought the first electric vehicle into The Bahamas - a Nissan Leaf - in 2016. "With EVs, you really have to experience it for yourself, so we strongly encourage anyone who is curious or thinking about what their next car will be to come and take a test ride. You will never go back to gas,” said Ms Farmer.

An authorised dealership for electric vehicle brands, Easy Car Sales says its sales are also backed by factory warranties. The dealership currently represents BYD in a partnership dating back to 2017, along with JAC for commercial vehicles and

L TO R: Patrick Davis, national co-ordinator of information security, Department of Information and Communications Technology (DICT); Olivia Dorsett, Cloud Carib’s director of marketing and communications; and Dr Willissa Mackey, training specialist at The University of the Bahamas’ private and public sector training department, back DigiLearn Bahamas, a national initiative redefining access and building a more inclusive digital future.

Geely Riddara pick-up trucks. Easy Car Sales said that next month it will introduce Hongqi to the Bahamian market, a brand known in China for high-end vehicles used by heads of state and high-ranking officials.

Global electric vehicle registrations reached 21m in 2025, representing a 24 per cent increase over the previous year. Contributing to this growth was China, where electric vehicles accounted for 50 percent of all market sales for the first time.

Driven by the increased consumer awareness of cost savings available, advances in battery technology, expanded charging infrastructure, supportive government policies and

“The problem isn’t technology. It’s ritual,” Ms Dorsett declared. “We keep calling friction ‘normal’, and we pay for it every day in time, in talent and in trust. Our biggest national export isn’t tourism. It’s time, and we waste it in lines, forms and ‘come back tomorrow’.

“We’re not behind because we’re a small country,” Ms Dorsett emphasised. “We’re behind because we tolerate friction. But we don’t have to stay there.” Forum attendees learned from Cloud Carib’s own operational model, and shared strategies that individuals, businesses and governments can adopt.

The event also gave attendees a practical framework for escaping legacy systems in favour of modern tools. They were urged to take personal ownership of the shift, arguing

environmental concerns, Easy Car Sales said the International Energy Agency is now forecasting that electric vehicles could represent one-third of the global auto fleet by 2030 and reach over 50 per cent of new vehicle sales by 2035.

CAPTIONS

Pia Farmer, director of Easy Car Sales, shows then-prime minister Perry Christie around the Nissan Leaf - the first electric vehicle to land in The Bahamas  Prime Minister (then deputy prime minister) Phillip Davis KC with Pia Farmer, director of Easy Car Sales and the Nissan Leaf electric vehicle in 2016 Easy Car Sales' team has grown from eight to 45 since the company went electric vehicle-only in 2020

that modernisation is not a government-only project, but a daily set of choices made by employees, managers and students in how they communicate, document decisions and protect information.

Dr Willissa Mackey, training specialist at UoB’s private and public sector training department, said:

“At the University of The Bahamas, we see digital literacy as a fundamental right. Through DigiLearn, we are redefining access and ensuring that no Bahamian, whether a student refining their resume or a grandmother learning online banking, is left behind in this digital revolution.”   Cloud Carib is a leading regional provider of secure cloud infrastructure and managed IT services that is headquartered in The Bahamas

minsters attend $10.3m AML Foods supply centre launch

CHESTER Cooper, deputy prime minister and minister of tourism, investments and aviation, and Ginger Minister, minister for Grand Bahama, participated in the official groundbreaking for AML Foods’ new distribution centre at the former Solomon's location on Queen's Highway in Freeport last Thursday. The $10.3m investment is expected to create 20 new jobs, adding to the 265

employees already working across AML Food’ Solomon’s, Cost Right and Domino’s stores on Grand Bahama. Gavin Watchorn, AML Foods’ chief executive, led the opening ceremony. Also present was Sarah St. George, the Grand Bahama Port Authority chairman, and Ian Rolle, the Grand Bahama Port Authority president.

/BIS

Photos:Kemuel Stubbs

Ex-employee awaiting fate over alleged $1.5m fraud

A FORMER construction company employee is expected to be arraigned before the courts this week following a wide-ranging probe that has spanned more than seven months into an alleged $1.5m fraud.

Rudolph Beneby, proprietor of Paradise

Contracting Services, confirmed to Tribune Business that an ex-staffer has been arrested and questioned by the Royal Bahamas Police Force’s financial crime unit over accusations that they misappropriated company funds.

Mr Beneby said that while accountants estimate the sum involved could be over $1.5 m, the police have so far found evidence

Mayaguana port billed as ‘building block’ for island

THE private sector partner behind the proposed Mayaguana port project, which will cost $300m to develop in its first phase, told residents the facility will provide critical infrastructure to benefit current and future generations.

Speaking at a Town Hall meeting on the proposed project, Winfield ‘Johnny’ Outten, Global Lead Consultant Group’s chief executive, said construction of a transshipment port will solve many of the significant logistical challenges the island faces.

“What we're undertaking to do is create a transshipment port in Mayaguana that is going to be the building block for your community. Right now, you can't get anything done on the island because you have no place to bring anything,” said Mr Outten.

“The little dock over there only takes small roll-on, roll-off vessels. You can't get any economies of scale. You can't really get large vessels in here.”

Mr Outten pointed out that ships constantly bypass Mayaguana without stopping because there are no port facilities to accommodate them, and that closing this gap through the project’s construction would serve as a foundational development for the island.

“And the shame is, you know, you see the boats passing all the time. When you look on the tracker app you see that they go past Mayaguana all the time. But there's nothing here to stop for, there’s no space for them to go. There are no facilities, no fuel, none of these things that they’re going to require,” said Mr Outten.

“And they pass going to Europe, they pass going to Africa, they pass going back south, and they just pass. So the idea was born to create

Bahamas pharmacy chief takes top Caribbean post

THE Bahamas Phar-

maceutical Association’s (BPA) president has been named as the new executive director of The Caribbean Association of Pharmacists (CAP).

Dr Marvin Smith has been actively involved in

CAP governance since 2006. He has served as a committee member, legislative chairperson, elected officer and president from 2016 to 2021.  His contributions have involved legislative oversight, administration and

to support $500,000 based on ongoing discoveries of payables and other transactions “There’s a case. They are being charged. They are going to be arraigned on Wednesday,” he said. “At this time, even though they say it’s $1.5m, I think financial crime is only able to produce evidence of some $500,000-plus. But I know for a fact that it’s around $1.5m simply

this infrastructure that is going to be the building block for the island and the residents and the descendants of Mayaguana.”

Residents voiced concerns about the project after its announcement, specifically about the lack of transparency around the process.

Mr Outten said the company had been working through a lengthy approval process with the Government for the private-public partnership and decided not to notify the community in case it ultimately was not approved.

“The reason for that was that we were trying to go through a process with the Government and, you know, it lasted a couple of years. We didn't want to come and build up your hope, and then the Government did not approve us moving forward with the project. So we were really in a bad situation, and we couldn't announce it until the Government announced it, because they had to take the lead on it,” said Mr Outten.

lobal Lead Consultant Group’s website names Vincent McDonald, a 35-year hospitality entrepreneur who owns Curly’s Group of Companies - the parent of Curly’s Bar on Cable Beach and Curly’s Restaurant on

finance, continuing education programming, event planning, membership development, and corporate partner relations.

Dr Smith will begin a formal transition process with the current executive director, Pamela Townsend, who has led CAP since 2014. The transition will culminate with Ms Townsend’s retirement at the end of CAP’s fiscal year on March 31, 2026.

because of all of the payables and stuff, and funds…. to pay Inland Revenue, Business Licence, quarterly VAT payments, the office rent, etc, with Goodman’s Bay Corporate Centre, a whole heap of stuff. And we’re still finding stuff, to be honest.”

Mr Beneby revealed that suspicions surfaced after allegedly fraudulent Immigration invoices, related

Arawak Cay - and is a partner in Bahamas Renewable Energy Company (BREC).

Other principals include Mr Outten, a former banker who founded Tiffany Marble Products, which later became Bahamas Kitchen and Bath, and also Countrywide Builders. He is currently a director of the Bahamas Entrepreneurial Venture Capital fund.

Leslie Hutchison, an engineer and project manager, is named as Global Lead Consultant Group’s chief operations officer, and is said to have worked on New Providence’s $200m road improvement project as well as the upgrades to water and sewerage and road infrastructure in downtown Nassau.

Also named is Junardo Hall as the project’s financial consultant, while Global Lead Consultant’s attorney is Owen Wells, the McKinney, Turner & Company partner, who is standing as the governing Progressive Liberal Party

to work permit payments, were exposed which triggered the investigation.

“After the Immigration fraudulent invoices, I started investigating everything, hired an accountant, and went over the books. The accountant came up with a figure of about $1.5m that was misappropriated; fraudulent bank statements,” said Mr Beneby.

He added that he also plans to pursue a civil lawsuit against the former employee in addition to the criminal case, pointing out that he has been left financially liable for more than $1m owed to the Department of Inland Revenue in taxes that were not paid.

(PLP) general election candidate in the newly-created St James constituency.

The Government, in unveiling the port PPP, billed it as ultimately creating “2,000 full-time jobs” by developing a maritime port and logistics facility on Mayaguana.

The Prime Minister’s Office, in a statement, said the Davis administration was partnering with Global Lead Consultant, which appears to be a newly-formed company describing itself as “a Bahamian consulting firm providing design, development and management services” specifically for this project, in an effort to exploit Mayaguana’s strategic location close to major international shipping lanes.

Describing the ‘Port at Mayaguana’ as “a major maritime and logistics project intended to strengthen economic activity in Mayaguana and across the south-east Bahamas”, the Government said the

“I’m looking forward to it. It was a long time coming, because I filed a complaint with financial crime back in June of last year, but there was so much paperwork involved, due diligence and making sure they had all their ducks in a row in order to arrest them,” Mr Beneby said.

“You know, I’m going to go after them with a civil lawsuit as well, to be honest. I have to, because I’m still facing Inland Revenue for over $1m.” Tribune Business reached out to the Royal Bahamas Police Force for confirmation of the arrest and arraignment but did not receive a response up to press time.

development - if successful - would develop transhipment and storage facilities for container shipping and bulk cargo, along with the necessary support services and utilities.

“Mayaguana sits close to strategic shipping lanes used by vessels transiting toward the Panama Canal and other major ports, placing the island at a crossroads between the Americas and Europe. This PPP positions Mayaguana to play a stronger role in regional trade, cruise activity and related services,” the Prime Minister’s Office said in explaining the project’s rationale.

“Under the PPP, Global Lead Consultant Group, together with its team, will work alongside the Government to develop a project that includes port and land side works, a transshipment and storage port for containers and bulk cargo, excavation, housing and

SHIPS - See Page B7

see it all way through’

treasurer for a $26m purchase price (see other article on Page 1B), he asserted that the necessary financing to move his ambitions forward is “all in place” once the land transaction closes with unnamed investor groups in New York and Palm Beach said to be interested.

Many Bahamians, wary of multi-billion dollar investment and job promises that have failed to materialise, and especially given the numerous false starts since Ginn’s original developer defaulted on its loan obligations some 15 years ago, will likely only believe Mr Coakley’s plans are for real once they can see and touch them. However, voicing confidence in his West End vision, he “guaranteed” it will awaken what he branded “the sleeper island”.

Mr Coakley named two Bahamian sporting achievers, New York Yankees baseball player Jazz Chisholm, and Golden State Warrior’s shooting guard, as two who have “already signed” to invest in a three-phase project that is being named Bristol Pointe. And he also revealed that Bobby Ginn, the original developer, is partnering with them as a consultant to advise on the project’s development and the necessary permits required from the Government.

The Coakley International chief, asserting that the Davis administration has promised to “honour” the terms of the original Ginn Heads of Agreement, added that his planned development will feature a hotel/casino at its core, along with a “super yacht marina”, “branded private condo towers” and highend homes and residences worth up to $15m-$20m. And, once the required permits were obtained, such homes will “start going vertical after eight weeks”.

Noting that it has taken six-and-a-half years to reach the land acquisition stage, Mr Coakley argued that “I don’t know who else” would spend such time and money on trying to bring such a major development to life, adding: “I stood fast and am here now.”

Confirming that a $2.6m “non-refundable deposit” has been paid to the Treasurer, and that the two sides have agreed and signed a sales agreement for the land transaction, the Coakley International founder and president told this newspaper: “We now have to get permission from the Treasurer to clean up the property. It’s so overgrown, some of the roads, that you can’t go through there. “Some of the lots are not owned by the Treasurer; they are owned by individual private buyers, so we we have to do a survey and clean up the property so

that we know what we’re buying. That will start next week and we will hire local Bahamians to do that.”

Should Coakley International close its land purchase, much work remains over the coming years and decades to bring its vision to reality. The four land parcels, spanning 1,143 acres, which it is acquiring from the Treasurer comprise the former Ginn project’s real estate component and, while a significant portion, does not represent all the required land holdings.

Coakley International has budgeted $100.7m for land acquisition and closing costs to assemble a total 2,015 acres for its plans. Several other parcels will have to be acquired from private owners, but - with the original developer having already installed roads, utilities and other infrastructure that is being valued at $480m - Coakley International has had West End’s real estate appraised at an “as is” $791m valuation.

Its development plans are broken into three phases, each spanning three to four years, with the construction investment for each pegged at between $1.8bn and $2.5bn. Total construction spend is estimated at $6.4bn over more than a decade.

Bristol Points’s central feature will be the Nandana resort campus, which will incorporate a 200-key highend resort, 75,000 square foot casino, mega yacht marina, numerous villas, and entertainment amenities such as an ice skating

rink, bowling lanes, billiard room, dog park and private movie theatre. Horse racing is also planned for the Bristol Pointe Downs and Equestrian Centre.

The scale and cost of such a project makes raising the necessary financing a big task, but Mr Coakley asserted that the level of investor interest is already such that he may not need to raise a loan to finance the balance of the $26m initial land acquisition cost.

“Right now I’ve got four different groups that want to partner and joint venture with me - two out of Palm Beach, and two out of New York. The Palm Beach people, they were looking at it from Bobby Ginn days. They never thought it would become available and knew there were title dispute issues. We have a loan in place to close, but whether we take a loan or joint venture with groups from Palm Beach….

“That’s where I’m moving right now to spearhead the project. I’m leaving Seattle and moving to Palm Beach to spearhead the project. We’ll put a sales office in Palm Beach and be flying back and forth.”

Asked whether the necessary financing is ready, Mr Coakley replied: “It’s all in place. All of it….

“The moment I close on the property, we’re going to build model units. They’ll be $15m-$20m homes, and we will also develop a super yacht marina and have branded private condo towers. We have a binding letter of intent (LOI) with Fendi.” Mr Coakley said

Henge, an Italian furniture brand, would be involved with the private residences while “Fendi will be the first two towers we are going to do”. He added: “The Treasurer and the Government does not want the property split up. We are acquiring it all. We are already in contract for all the property. We are acquiring all of it. I’m leaving in three weeks to Macau, meeting with one of the largest casino operators in Macau, who wants to come and operate the project…

“I’m confident. I’ll guarantee you that once we’re done with this, see how much development follows Coakley International. I think Grand Bahama is the sleeper island and, when people find out, everyone will come running to Grand Bahama. The beauty of it is that the Government said they are going to honour the existing Heads of Agreement. We also want to do horse racing in there.”

Mr Coakley, who said his uncles were part of the Grammy award-winning group T-Connection, said he first became interested in Freeport after being sent there during the school holidays from Nassau by his mother. He added that he first looked at acquiring and redeveloping Freeport’s International Bazaar, but the former Minnis administration directed him and his group to West End instead. Tribune Business sources shared there was scepticism at the time as to whether Mr Coakley had the financing and resources to pull off

Powdered whole milk could be a culprit in the ByHeart botulism outbreak, tests show

infant formula could be a source of contamination that led to an outbreak of botulism that has sickened

dozens of babies, U.S. health officials indicated Friday.

Testing by the U.S. Food and Drug Administration

found the type of bacteria that can cause the illness in two samples linked to the formula, officials said.

the International Bazaar deal. However, he said his background in dealing with “distressed properties” and “title disputes” persuaded the Minnis administration that he could “figure out the Rubix cube” that was the former Ginn project.

“I don’t know who else stays for six-and-a-half years throwing money at a project,” Mr Coakley told Tribune Business. “I’m a Bahamian. I had no choice. I made a commitment to people that I would not give up on the project. These guys [Lubert Adler and Kingwood] have done everything to run me off this project. I stayed fast, fought through it and now I’m here.

“We waited six-and-a-half years because there were so many projects in The Bahamas getting talked about that never happened. We were dealing with aggressive sellers so we kept it under the radar. We made 26 trips in the last six years; 26 trips to Freeport to put this together. There were a lot of consultants, and we hired a lot of architects. We put a lot of money into this project and said we’re going to see it all the way through.”

According to Coakley International’s website, it has been involved with the land assembly for Google’s headquarters and brokering US commercial property and resort deals. However, it is not clear if it has acted as lead developer as will be required in Grand Bahama’s West End.

The agency found that bacteria in an unopened can of formula matched a sample from a sick baby — and it also matched contamination detected in samples of organic whole milk powder used to make ByHeart formula and collected and tested by the company. FDA testing also found contamination in a sample of whole milk powder supplied to ByHeart — and it matched the germ in a finished sample of the company's formula.

The findings are not conclusive, and the investigation continues "to determine the source of the contamination," the agency said in a statement.

In a statement, ByHeart officials said the new finding "suggests that we are significantly closer to determining the root cause of the contamination." Neither FDA nor ByHeart named the supplier of the powdered whole milk. At this time, there is no indication of a broader problem in the infant formula supply, the FDA said. New York-based ByHeart has been at the center of a food poisoning outbreak that has sickened 51 babies in 19 states since December 2023. The problem was identified in November after officials with the California program that supplies the sole treatment for infant botulism detected a surge in cases in babies who consumed ByHeart formula.

Caves Village

Premium Office Space for Lease

850 sq.ft. 3 offices, reception, conference room, kitchen $2,125.00 pm. plus CAM and VAT

1,072 sq. ft. 4 offices, conference room, reception, kitchen $3,126.66 pm. plus CAM and VAT

Contact Mr. Sean McCarroll 359-2957

Email: sean@mccarrollrealestate.com

BTC union warns of ‘full-out war’ on terminated members

THE Bahamas Telecommunications Company (BTC) is standing by its position that it has fully complied with labour laws and industrial agreements with the union representing its line staff threatening to “expose” the carrier if it does not give a “desirable” offer over five terminated employees.

Sherry Benjamin, the Bahamas Communications and Public Officers Union (BCPOU) president, speaking after a meeting where BTC presented a counter-offer to its proposal for resolving the fate of the terminated staff, who the union alleges were unjustly dismissed, said negotiations continue.

However, she added that the union was not pleased with what BTC presented last week and gave the company the weekend to improve it, threatening “a full-out war” if it did not.

“We definitely were not pleased with what was presented to us, and we told them that we were not pleased, and we're going to give them the weekend to come back with something more desirable,” Ms Benjamin said. “If they do not come back with something more desirable, then we will be giving all of the information that we have to the press.

“We are going to launch a full-out war on BTC, and we're going to do what we have to do because, at the end of the day, I think five months, almost six months, these people’s lives have been in the balance. February coming will make six months these people’s lives have been held in the balance.

“And they don't seem to want to do the right thing. We have proven to them over and over repeatedly. We've proven to everyone that would have stuck with us that they did not follow the tenants of our industrial agreement, and therefore

their actions were unjustifiable and that it needed to be reversed.”

Ms Benjamin told Tribune Business that even if BTC decides not to rehire the terminated employees, she would be willing to accept a separation package that “would actually represent compensation for the stress and the hardship that those persons have found themselves in”. However, she added that BTC does not seem interested in doing so.

“So we send them a clear message that, you know, all of the things that we have right now on the table against them, we are prepared to go full out with the media and expose them,”

Ms Benjamin said. “All of the dirt that we have on them, we are prepared to expose them if they don't do the right thing. And so we're going to give them the weekend to think over and to come back to us with something sensible. And if they don't, then we can do what we have to do.”

Farmers concerned over support levels

anixon@tribunemedia.net

GRAND Bahama farmers are voicing concerns over a lack of support for the industry while warning that he removal of VAT on imported unprepared foods will not give them a "competitive edge”.

Backing concerns from Caron Shephard, president of The Bahamas Agri Entrepreneurs Co-operative, that the removal of VAT on imported foods will “go against the grain” of fighting food insecurity, Tiffany Dennison, owner of Local Organics in Freeport, said the industry is tough enough as it is for those in business.

“I'm disappointed in their support of agriculture in this country, altogether,

really,” she said. “You know, they have these grants out. I know people that have applied for them, including myself. No one hears anything. And now they're reducing VAT on stuff that they've had VAT on the whole time, and we're trying to grow here. So, they're not giving us a competitive edge at all.

“It's hard to change people's minds from what they're used to. Going from stuff that they import to going to a Bahamian, it's hard to change a mindset like that. I have quite a few places here, but we still struggle with Solomon's. Even though we've been in them before [Hurricane] Dorian, it's been hard to get back in there again because, of course, everything is out of Nassau, and now they're doing a big distribution warehouse, AML. So I don't

know. Is that going to help us, or is that going to make it even worse for us?

Ms Shepard, in a January 22, 2026, letter to Prime Minister Philip Davis KC recommended he removal of VAT on “essential agricultural inputs” including seeds, animal feed, egg cartons packaging materials, and materials and fertilizers and pesticides for registered farmers, adding that this would result in lower costs for farmers who provide produce locally and savings for consumers who patronise them.

Ms Dennison added that if farmers pay less for agriculture inputs, prices for local produce would not have to increase. However, if she were to make her own list of recommendations to the Government, she said she would suggest a quicker process when bringing in

Ms Benjamin said she also found it “disrespectful” that the offer was sent via e-mail late the night before the scheduled meeting with BTC. This, she said, left her with no time to present it to her members before the meeting with BTC the next morning.

“Had I not been up at that hour and looking at my phone, I would not have seen that the e-mail came in, and I would not have seen it until I got into the meeting... which would have given me no time to look at the offer,” she added. “And we had no time to actually present the offer to our members.”

Patrice Thompson, BTC’s director of people, said the carrier is seeking “collaborative engagement” with the union on the matter, adding that the dismissals only occurred after the established internal processes, investigations, reviews and approvals consistent with BTC’s policies were completed. She said the company could not

agricultural inputs as well as receiving grants .

“I cannot speak for anybody else except myself and what we do, and we make sure that we are competitive with the price in the grocery stores,” Ms Dennison added. “So if we have to pay less, and we can keep our price the same, then that obviously works for the consumer. If our expenses go up, then the expenses go up to the consumer.

“Right now, we are on line, if not better, than what's being brought in... Of course, what's being brought in, although maybe organic, is sprayed with preservatives, and we know half the time it's not been treated well. So it's a no-brainer when our stuff is in the store.

“The thing is, I think that the Government does try to make a lot of concessions with duties and things

accept the offer made by the BCPOU during a recent meeting, and said BTC urges that the focus remain on resolving matters.

“The company received a proposal from the unions on behalf of the former employees that sought compensation and other concessions significantly beyond the requirements of the law and the industrial agreements. While BTC could not accept the proposal as presented, the company has provided a counter-proposal in good faith with the objective of bringing this matter to a fair and timely conclusion,” Ms Thompson said.

“BTC encourages all parties to focus on resolving outstanding matters at the negotiating table, consistent with long-standing industrial relations best practices and in the best interest of union members, our employees and the wider Bahamian public.

“BTC does not intend to debate individual employment matters through the

like that that you can get exempt under the agricultural registration, but the problem always remains that they take too long to do anything,” Ms Dennison added. “So when I started buying my first systems, I got the exemption to bring them in through Ministry of Finance and [Ministry of] Agriculture, which came three months after it expired.

“So they're not on top of it. They're not focusing. I mean, I can only speak again for Grand Bahama - they're not focusing on the needs. We have co-ops here that we've been told if we register things, we can get certain things. Nothing ever happens. There's grants. You apply [and] nothing ever happens. You hear from nobody. So the problem with them is lack of really movement. It just

media and maintains that in keeping with standard corporate practice and out of respect for the individuals involved, BTC will not disclose any confidential personnel details.  The unions, of course, retain the right to pursue all avenues, including recourse to any legal remedies deemed appropriate, on behalf of their members.” Regarding health and safety concerns raised by the BCPOU and the Bahamas Communications and Public Managers Union (BCPMU) during a demonstration last December, Ms Thompson added: “BTC continues to meet regularly with union representatives on broader workplace matters and has implemented a structured action plan to address concerns raised. The company is also advancing plans to modernise its office spaces into contemporary, productive environments and continues to invest in employee safety, well-being and development.”

takes too long to get anything done right.”

Terrance Roberts, managing director of Berkshire Bahamas Farms, while benefiting from duty and VAT-free concessions due to being in the Freeport area, said looking at the situation as a whole “it's not good because they're not thinking about it from the standpoint of we still have to compete with the local market, grocery stores and all of that”.

However, Mr Roberts said until agriculture in The Bahamas improves, farmers must market and adjust as necessary. “You got to be able to market your product in a way where, if you have to adjust your price, you know who your niche market is based on the quality of the product that you're providing, and that

FOOD - See Page B8

auctioned off the ex-Ginn land parcels, on June 24, 2025. It is unclear, though, whether the process was subject to competitive bidding, and multiple offers solicited and obtained, as required by the Real Property Tax Act to ensure Bahamian taxpayers receive the best possible price.

Coakley International, in its statement announcing its deal, said it had been “awarded the bid” for the 1,143 acres but this award is understood to have only been formally confirmed in November 2025 - close to five months after the auction was held.

The Department of Inland Revenue had previously attempted to sell the same land holdings in late 2024 over $26m in allegedly unpaid real property tax debts but that was thwarted and put on hold.

Lubert Adler and Kingwood contested both the valuation of the actual land and the amount of real property tax arrears owed to the Government. This has led to the upcoming Tax Appeal Commission hearing, with the Department of Inland Revenue said to

be valuing the property at $36m as opposed to the $15m price tax that Lubert Adler and Kingwood have obtained via their own appraisals.

“Does the Treasurer have anything to sell?” one informed contact asked, questioning whether the auction and subsequent deal with Coakley International are an effort to circumvent and undermine the lawful Tax Appeals Commission process.

“You also have to have a competitive bidding process. You have to have a timeline for the submission of bids, and you have to go through a formal process. The whole thing is a farce. It’s a set up. It undermines the integrity of the entire tax appeal process particularised in the Tax Appeal Commission Act. All of this is just ridiculous.”

Tribune Business was unsuccessful in its bid to obtain comment from Lubert Adler and Kingwood before press time yesterday. However, Mr Coakley told this newspaper that his rivals are “completely out” because their tax appeal “didn’t happen”, thus paving the way for the Department of

Inland Revenue to seize the land and sell it to recover the real property tax arrears. He told Tribune Business: “They are out. They are completely out. They did. They tried to appeal it. It didn’t happen and the Treasurer took it. We are in contract, and they have our money - a non-refundable deposit. They [Luber-Adler and Kingwood] cannot stop it. It’s too far gone now. We’re going to push forward.”

Lubert Adler took over the Ginn development’s core property, and the neighbouring Old Bahama Bay resort, after the original developer defaulted on its debt some 14-15 years ago. It has been seeking a buyer, and exit route, for some time.

Tribune Business previously reported it had done an offshore deal with Kingwood where the latter’s principals took control of LRA-OBB, the entity that owns the Old Bahama Bay resort, and other affiliates, via a transaction that was concluded outside The Bahamas whereby they assumed Board and management control.

However, Kingwood has struggled to obtain the necessary government approvals to cement the deal and, to this day, has been unsuccessful in at least

two applications to acquire them.

Phylicia Hanna-Woods, the Bahamas Investment Authority’s (BIA) director, confirmed in September 2023 that Kingwood had been rejected as the Ginn project’s prospective purchaser because it was “unable to satisfy the Government of their fitness to do business in The Bahamas”.

Given this situation, and with a general election imminent, the Government may well have decided to break the West End impasse by using the alleged real property tax arrears - and fact Kingwood does not posses an International Persons Landholding Act permit to authorise and legally secure its ownership of Bahamian real estate - to seize the West End property holdings and pave the way for Mr Coakley’s transaction.

Tribune Business understands that the Bahamian investor, and his group, have obtained support for their ambitious plans from senior figures in the Davis administration. He and Coakley International are represented by Thomas Dean, the Dupuch and Turnquest attorney, who is also Concord Wilshire’s legal adviser on the Grand Lucayan purchase that the Prime Minister is expected to speak about within the next 48 hours.

Mr Coakley, meanwhile, voiced optimism that his group will obtain all necessary government permits and approvals to launch their multi-billion dollar

West End development even though well-placed sources confirmed that no formal submission or application has been made to either the Bahamas Investment Authority (BIA) or National Economic Council (NEC), the latter of which is either the Cabinet or a Cabinet committee or sub-committee.

“We have gotten everything that they have needed in,” Mr Coakley told Tribune Business. “We are assembling next [sic, this] week. We have more documents to give to Thomas Dean next week to submit for the Government’s approval. I don’t think we will have any problems with government approvals.” The sales agreement will also have to be completed, and the full purchase price paid, before applications for approvals kick-in.

This is not the first time that Mr Coakley and his company have clashed with Lubert Adler and Kingwood over their competing plans to acquire and redevelop the former Ginn project. Tribune Business revealed at end-March 2025 how the latter complained to The Bahamas’ Data Protection Commissioner and US regulators that Mr Coakley had “misrepresented” himself as the owner and/or purchaser of the former Ginn project.

Mr Coakley hit back that he would “never, never do that” after Michael Scott KC, the Bahamian attorney for LRA-OBB and Resort Holdings, the two entities that held the 2,000acre plus Ginn sur mer site, launched a formal complaint about promotional material posted on Coakley International’s website.

He also countered by alleging that his problems with LRA-OBB began

when he submitted a bid to acquire the Ginn project, asserting: “When it went up to bid, I raised the money, I got the money and they’ve been attacking me ever since. They’ve tried to block me from coming on to their property. It’s just been a fight with these guys.” Coakley International’s website also reveals he has now teamed with another Lubert Adler/Kingwood adversary. John McDonald, president of Island Ventures Resort and Club (IVRC), the entity formed by the 73 condo owners to keep Old Bahama Bay open following Ginn’s 2011 default, is now named as Coakley International’s vice-president as well as president of Old Bahama Bay. Tribune Business has reported extensively on efforts by Lubert Adler and Kingwood to replace IVRC as Old Bahama Bay’s management company. Prior to Coakley International’s $26m deal with the Treasurer surfacing, this newspaper understands that the LRA-OBB partners were in the process of obtaining all necessary approvals - including Central Bank exchange control approval - before making a renewed attempt to force IVRC out;

Mr Coakley asserted that, as part of his group’s plans, they have acquired “an ownership interest in Old Bahama Bay” itself although he declined to provide specifics on the purchase price and size of the equity stake taken. “The reason we bought into Old Bahama Bay was to show our dedication and, at the same time, to be able to control that association,” he explained.

overtime during the Christmas holiday season may not receive the necessary reimbursement that is due to be paid this week.

Suggesting that workers at the Princess Margaret (PMH) and Rand Memorial hospitals, as well as Sandilands Rehabilitation Centre, are counting on the extra funds for “survival” and to maintain their quality of life, he argued that the situation is an “indictment” of the PHA and its financial budgeting.

The PHA declined to comment when contacted by this newspaper, but Mr Ferguson - when asked if the Bahamian public should be concerned about the impact on healthcare delivery and care quality if staff halted overtime work - said any blame should rest with the Authority for failing to pay persons what they were due and not curing persistent staff shortages.

Revealing that the BPSU and its members will meet this week to discuss the PHA situation, he added that it was another example of the Government’s “disrespect for union” and warned that “at some point you can expect some form of industrial action”.

Tribune Business revealed on Friday that the PHA has imposed strict payment controls “to preserve funding for urgent priorities” after “exhausting” its overtime budget within just three months of

the current 2025-2026 fiscal year.

The operator of the PMH and Rand Memorial hospitals, as well as the Sandilands Rehabilitation Centre, warned in a January 13, 2026, internal memorandum that with effect from this month all overtime payments for doctors, nurses, medical and other staff will not be processed unless first approved by the office of PHA managing director, Dr Aubynette Rolle.

However, Mr Ferguson argued that overtime pay is dealt with by both the Employment Act as well as the BPSU’s industrial agreement with the PHA. The former, he added, imposes a legal mandate requiring employers to pay overtime to workers who work in excess of eight hours per day or 40 hours per week, while the industrial agreement’s article 40.6 stipulates that all overtime at the PHA should be approved before it is incurred.

In addition, the BPSU chief said the agreement stipulates that all due overtime should be paid no later than the end of the following month when it is incurred. As a result, the PHA’s new policy has sparked concern that overtime payments for Christmas, which are due at the end of January 2026, may not be made unless approved by Dr Rollesomething that, according to Mr Ferguson, would violate the industrial agreement.

“The concern the BPSU has is, if the PHA is challenged to some extent, we shouldn’t hear about it through the grapevine,” Mr Ferguson told Tribune Business. “We are the bargaining agent. Surely they should have reached out to the union that there are challenges? The accountants admitted to removing payment from the pay sheet because the managing director indicated the [overtime] allocation was depleted.

“Again, we’re going to call a meeting and determine how we address it moving forward some time this week. It’s unacceptable and very disrespectful to the hard working staff at the PHA who sacrificed their holiday season for the benefit of the Bahamian people. The PHA knew very well they had no money but still solicited persons to work overtime, and if they were aware there were going to be challenges they should have said they will not be paid until such and such a time.”

Mr Ferguson said he had spoken to Dr Rolle about the overtime situation, but the PHA managing director “did not indicate any definitive timeline when persons will be paid”.

He added: “I’m very concerned. It’s less than a month after the holidays and persons will have worked overtime because they need the additional monies. Again, if I work, I expect to be paid. The criteria is clear as to what should happen. I’m very, very concerned. There are some persons counting on these additional funds to maintain their survival and provide a quality of life.

How Americans are using AI at work, according to a new Gallup poll

AMERICAN workers adopted artificial intelligence into their work lives at a remarkable pace over the past few years, according to a new poll.

Some 12% of employed adults say they use AI daily in their job, according to a Gallup Workforce survey conducted this fall of more than 22,000 U.S. workers. The survey found roughly one-quarter say they use AI at least frequently, which is defined as at least a few times a week, and nearly half say they use it at least a few times a year. That compares with 21% who were using AI at least occasionally in 2023, when Gallup began asking the question, and points to the impact of the widespread commercial boom that ChatGPT sparked for generative AI tools that can write emails and computer code, summarize long documents, create images or help answer questions.

Home Depot store associate Gene Walinski is one of the employees embracing AI at work. The 70-year-old turns to an AI assistant on his personal phone roughly every hour on his shift so he can better answer questions about supplies that he is not "100% familiar with" at the store's electrical department in New Smyrna Beach, Florida. "I think my job would suffer if I couldn't because there would be a lot of shrugged shoulders and 'I don't know' and customers don't want to hear that," Walinski said. While frequent AI use is on the rise with many employees, AI adoption remains higher among those working in technology-related fields. About 6 in 10 technology workers say they use AI frequently, and about 3 in 10 do so daily.

The share of Americans working in the technology sector who say they use AI daily or regularly has grown significantly since 2023,

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The public is hereby advised that I, PETERSEN JEAN CHARLES JOE of Freeport Grand Bahama, intend to change my name to PETERSON JEANCHARLE. If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.

“It’s an indictment on the PHA. I notice the managing director indicating their managers were not seeking prior clearance for overtime to be done. I find that to be disingenuous.” The BPSU’s industrial agreement, according to Mr Ferguson, requires overtime to be approved before it is worked.”

Ryan Bastian, the PHA’s deputy financial controller, in the memorandum that was sent to all hospital administrators, financial controllers and their deputies, plus payroll departments, said the Authority is implementing “mandatory managing director approval for overtime payments”.

He wrote: “This memo serves as formal notice on the direction of the managing director [Dr Rolle], effective immediately (January 2026 pay period), that all overtime payments require prior approval from the managing director’s office before they can be processed.

“With effect from the January 2026 pay period, payroll departments are required to notify the managing director’s office of any overtime payable and obtain written approval from the managing director before any overtime amounts are entered on to the pay sheet and processed. Overtime payments are not to be included in payroll processing without the managing director’s written authorisation.”

Explaining the rationale for the move, Mr Bastian added: “As of September 2025, the overtime budget allocation has been exhausted. This control is being implemented

to preserve funding for urgent priorities (for example, critical hires) and to strengthen oversight of overtime expenditure. Your full co-operation and strict adherence to this requirement are appreciated.”

Mr Ferguson, noting that the memo did not address December 2025’s overtime that staff are expecting to be paid this coming week, said he was appealing to Andrew Edwards, the PHA chairman; Prime Minister Philip Davis KC; and Dr Michael Darville, minister of health and wellness, to address the issue “post haste”.

“Normally we don’t hear anything until we take action,” the BPSU president said. “We are advising membership to cease and desist from working overtime until such time as payment is made on outstanding overtime work.”

Asked about concerns over the impact this will have on healthcare services and care quality, Mr Ferguson replied: “I would respond to that in this way. If the PHA was concerned about the impact it would have it would pay persons what they are owed. Overtime is only an indication the organisation is very short-staffed.

“We have been aware of that for a while. To expend that many millions of dollars in overtime allowance, you could have employed additional persons to reduce overtime….

“I always speak to the fact the Government is breaking all the laws and having disregard for all agreements put in place” Mr Ferguson added. “This is an alarming example of the disrespect they have for unions. We

Vessels bypass Mayaguana on infrastructure deficiency

SHIPS - from page B3

but there are indications that AI adoption could be starting to plateau after an explosive increase between 2024 and 2025. In finance, another sector with high AI adoption, 28-year-old investment banker Andrea Tanzi said he uses AI tools every day to synthesize documents and data sets that would otherwise take him several hours to review.

supporting facilities, and upgrades to utilities. The private partners referenced by the project team include 77 Construction UK, among others.” An Internet search yielded few details on 77 Construction UK.

However, the Prime Minister’s Office said the Mayaguana port project is being structured as a joint venture between the Government and its private

NOTICE

IN THE ESTATE of JAMES GOMEZ, late of Marsh Harbour Abaco, one of the Islands of The Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or demands against the above named Estate are required to send their names, addresses and particulars of the same duly certified in writing to the undersigned on or before the 26th day of January A.D., 2026, and if required, prove such debts or claims, or in default be excluded from any distribution; after the above date the assets will be distributed having regard only to the proved debts or claims of which the Administrator shall then

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the aforementioned date.

MICHAEL A. DEAN & CO., Attorneys for the Administrator Alvernia Court, 49A Dowdeswell Street P.O. Box N-3114 Nassau, The Bahamas

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT, 2000

BAHAMIAN NUMBER ONE HOUSE CORP. (In Voluntary Liquidation)

Pursuant to the provisions of section 138 (4) of the International Business Companies Act, 2000, notice is hereby given that:

a. BAHAMIAN NUMBER ONE HOUSE CORP. is in dissolution in accordance with the provisions of the International Business Companies Act, 2000.

b. The dissolution of the said Company commenced on the 14th day of January 2026, when its Articles of Dissolution were submitted to and registered by the Registrar General.

c. The Liquidator of the said Company is GLC Corporate Services Ltd., of Old Fort Bay Towne Center, Windsor Field Road, Old Fort Bay, New Providence, The Bahamas.

Dated this 26th day of January 2026.

GLC Corporate Services Ltd. Liquidator

will not stand by. At some point you can expect some form of industrial action. There could have been consultation, there could have been communication. That would have been the proper thing to do.” The Government’s own Budget data for the 20252026 fiscal year appears to back this up. While the PHA was allocated some $247.856m in Bahamian taxpayer funds, representing a $15.4m or 6.6 percent increase over the prior year’s $232.456m, the Authority had already spent $203.665m or 87.6 percent its 2024-2025 budget after just nine months. At that pace, the PHA was on course to spend a total $254.58m for the 2024-2025 full Budget year, meaning it would have overshot its allocation by almost $22m. Dr Darville, minister of health and wellness, described the PHA’s exhausted overtime budget as a “great concern”, saying emergency meetings were convened to introduce stricter controls and “get a grip” on overtime gaps across facilities. He attributed the situation to staffing shortages, particularly within the PHA’s finance department, driven by retirements and departures to the private sector. He added that difficulties in filling those posts had worsened the backlog. “I have taken this as a degree of urgency,” he said. Dr Darville said it is not unusual for healthcare budgets to be depleted, citing unforeseen pressures such as high admissions, outbreaks and infectious diseases that can rapidly drain resources.

sector partners in the PPP, although the precise terms and ownership percentages were not disclosed.

“The project is to be jointly owned by the Government of The Bahamas, the Mayaguana Island Development Fund, and Global Lead Consultant Group,” it added.

“The operating entity will be Mayaguana Port Group Ltd (MPGL). The Mayaguana Island Development Fund component is intended for the direct

benefit of Mayaguana, and the partners have indicated an intention to engage the community on the use of those funds.” That indicates Mayaguana Island Development Fund is being created solely to hold the interest of, and provide benefits to, island residents.

NOTICE

IN THE ESTATE OF RONALD WILLIAM ALBURY SR. late of Buen Retiro Road off Shirley Street in the Eastern District of the Island of New Providence, one of the Islands of The Commonwealth of The Bahamas. Deceased.

NOTICE is hereby given that all persons having any claims against the above-named Estate are required on or before the 25th day of February A. D., 2026 to send their names and addresses and particulars of their debts or claims to the undersigned in writing or in default thereof they will be excluded from the benefit of any distribution AND all persons indebted to the said Estate are hereby requested to pay their respective debts to the undersigned on or before the date above mentioned. AND NOTICE is hereby also given that at the expiration of the time period above mentioned, the assets of the late RONALD WILLIAM ALBURY SR. will be distributed among the persons entitled thereto having regard only to the claims of which the Executors shall then have had notice in writing.

Dated this 26th day of January A. D. 2026 Roberts, Isaacs & Ward, Unit No.2, Cable Beach Court Professional Centre, 400 West Bay Street, Nassau, Bahamas.

LEGAL NOTICE

BAHAMAS AGRICULTURAL GROUP LIMITED (In Voluntary Liquidation)

Registration number: 1500723 (REG)

Notice is hereby given

The

on the 10th January 2026, the following Resolution was duly passed:

“That the company be wound up voluntarily; that GLC Corporate Services Ltd. of Gail Lockhart Charles & Co., Old Fort Bay Town Centre, Second Floor, Building Four, Windsor Field Road, Old Fort Bay, New Providence, The Bahamas, be and is hereby appointed Liquidator for the purpose of such winding up”.

Dated this 26th day of January 2026. GLC Corporate Services Ltd. Liquidator

Farmers must innovate To overcome tax concern

you won’t get that fresh quality product in the food store,” he said. “So I think it’s up to us as agriculturalists, farmers, producers to be able to, you know, get creative.

“You have to get creative with how you market your business. We chose to be in this business, and you know what comes with it. So you got to be able to see the landscape for what it is. Because, I mean, we can come together and say, ‘Look, from a governmental standpoint, if you’re going to make these adjustments you have to look out for the local producers as well.’ So yes, we can have a stronger voice with that. But at the end of the day, what do you do when this is how the landscape is set up?

Pharmacy president blasts minister’s remarks: ‘Gross mischaracterisation’

LEVIES - from page B1

expanding the number of persons covered by the National Prescription Drug Plan (NPDP) from 44,000 to more than 150,000by switching it from the National Insurance Board (NIB) to the National Health Insurance (NHI) scheme - would improve Bahamians’ access to tax and duty-free medicines.

And he also slammed pharmacies for applying a “dispensary fee”, which he alleged is often more costly than the VAT on medicines. Mr Halkitis said the Consumer Protection Commission is looking into the “arbitrary” fees, and encouraging the sector to review these levies and pass any savings on to consumers rather than simply adding them to profits.

Dr Smith, though, argued that expanding the number of beneficiaries covered under the National Prescription Drug Plan does not reduce VAT costs for the public; it only increases the amount the Government eventually pays when reimbursing pharmacies under the programme.

“Firstly, Mr Halkitis’ response that adding to the number of eligible beneficiaries for the NPDP is a solution for not removing VAT from medicines simply defies basic logic. If you do not remove VAT, and also add more persons

to the NPDP, you simply just added to the VAT being collected from that programme,” said Dr Smith.

“And the irony of this is that, for these beneficiaries, the Government is paying the VAT in the end when they reimburse pharmacies for the prescription. This addition of persons has nothing to do with the VAT that persons are paying on items that are not covered under the programme. The answer given by Mr Halkitis amounts to nothing more than ‘word salad’ as he… tries to link one issue with another unrelated issue.”

Dr Smith also strongly rejected any suggestion that pharmacy owners might keep VAT-related savings for themselves, noting that the tax is a cost embedded in the supply chain. If VAT is removed for all medicines, both pharmacy costs and retail prices would fall.

“He then further misleads the public by stating that ‘removal of VAT should not result in that amount being added to profit’. This is not only insulting by insinuating that pharmacy owners would steal from their customers by retaining the VAT amount in pricing, but clearly also forgets that VAT is a regressive tax; that is, the VAT amount being collected by the retailer is a result of the VAT the wholesaler paid upon importation with their price-controlled mark-up,” said Dr Smith.

“Thus, if VAT is removed for all medicines, prices will fall for both the retailer and the customer. Pharmacies have always complied with VAT law.”

Dr Smith also explained that the dispensary fee, which he described as a professional service fee, covers a range of services required before a prescription can be safely filled. These include reviewing a patient’s medication profile to prevent harmful interactions, assessing dosing instructions, obtaining approvals from third-party payers (insurers) when necessary, and providing patient counselling, particularly for new treatments

He said these fees are not “arbitrary” but mandated professional responsibilities that vary across pharmacies due to differences in business processes, relationships with third-party payers, supply chain factors and services offered

“In the past, these might have been built into a price, but with the current price-controlled regime, these services cannot be accounted for in the mandated mark-up, and as such are now laid out separately on a patient’s bill,” Dr Smith said.

“If Mr Halkitis had communicated with his team at price control, he would be aware not only of the proper nomenclature but also as to what these services entail. The BPA has

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 26th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SARAHY PARDO MENÉNDEZ of P.O. Box CB-11763, #4 Silver Palm, Imperial Park Sea Breeze, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DANIEL PIERRE-REBERT of Twynam Avenue, Mackey Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 19th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

You just have to make your adjustments.

“So that’s where working together, like you say, with co-operatives. Once you have proper distribution and channels for farmers to get together and sell their product in bulk, that helps better to kind of compete. But it just really takes creativity because there are different avenues.”

Mr Roberts said Berkshire Bahamas Farms has created experiences, including its recent pen-to-play event, where persons were

held several meetings with the price control leadership and staff, and even presented about this issue at the recent workshop that was held by this department late in 2025.

“In addition, Mr Halkitis might not be aware that the professional service fee also applies to items under the Government’s NPDP, and has been a part of the established agreement since its commencement in 2011. So this is nothing new, at least to those who are properly informed,” added Dr Smith.

“As to this fee being described as ‘arbitrary’, and stating that it is being added with ‘no rhyme or reason’, this is a gross mischaracterisation of the whole process. Different pharmacies have different processes as it relates to prescriptions that are not covered under the NPDP. Some pharmacies have relationships with certain third-party payers that streamline the process for those pharmacies, while others may be preferred providers for certain group insurance beneficiaries.

“The difference is business process. Other amenities and supply chain factors can easily create differences in the cost associated with the professional service fee. This is no different than fees associated with other healthcare and administrative professionals, and it can vary from professional to professional,” Dr Smith continued.

“It’s certainly not just derived as an ‘arbitrary amount’; in fact, it’s quite the opposite. Specific

able to dine on the farm as

well as go on school tours and table tours for tourists. He said he focused not only on the products produced on the farm but experiences that can be had on the farm. “I understand the concerns,” he added. “And, of course, when things chang, it can be a bit frustrating. But what do you do? Things happen so you just got to be able to roll with it and just have fun with the creativity, because it’s an open market. Agriculture is bigger than just producing

factors go into the process for each individual product at each individual pharmacy, and that is how it is calculated in the industry. Pharmacists are professionals, and nothing we do is subject to having no rhyme or reason. To suggest this from the podium of the Prime Minister’s Office is an affront to every pharmacy owner in this country, all of who are Bahamians.”

Dr Smith said many BPA members feel they have been unfairly targeted and called for the Davis administration to “decry these statements” about the sector.

“We remind the Government that as partners in the NPDP, these same pharmacy owners have continued to provide service to the Bahamian public in the absence of a current and proper contract to do so. We wish to be treated like the partners we are, that is, with respect and dignity,” said Dr Smith

“So we call on the minister for health, and the substantive minister of finance, the Prime Minister to decry these statements made by Mr Halkitis, and to honour the professional and nation-centric relationship with the BPA that we have all worked hard to bring to fruition. Failure to do so will be seen as a public endorsement of the same, and as an insult to pharmacy owners throughout the Commonwealth of The Bahamas.”

During the recent media briefing, Mr Halkitis said the Government is not moving to eliminate the

Iran’s Revolutionary Guard commander warns the US his force has its ‘finger on the trigger’

THE commander of Iran's paramilitary Revolutionary Guard, which was key in putting down recent nationwide protests in a crackdown that left thousands dead, warned that his force is "more ready than ever, finger on the trigger," as U.S. warships headed toward the Middle East.

Nournews, a news outlet close to Iran's Supreme National Security Council, reported on its Telegram channel that the commander, Gen. Mohammad Pakpour, warned the

United States and Israel "to avoid any miscalculation."

"The Islamic Revolutionary Guard and dear Iran stand more ready than ever, finger on the trigger, to execute the orders and directives of the Commander-in-Chief," Nournews quoted Pakpour as saying.

Tension remains high between Iran and the U.S. in the wake of a bloody crackdown on protests that began on Dec. 28, triggered by the collapse of Iran's currency, the rial, and swept the country for about two weeks. Meanwhile, the number of people reported by activists as having been arrested jumped to more than

NOTICE

NOTICE is hereby given that IDA JOHN of Dignity Gardens, P. O. Box SB-51627, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 26th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SANDRA PIERRE of Marsh Harbour, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

food. It’s anything that lives and grows and comes from the earth, even byproducts.

“So turning certain products that are even not food, you know. It can be a prepared product. So I mean, if you want to balance your VAT back out there, you know, turn it into something else that can be preserved. The shelf life can be longer, like producing oils or jams and sauces. So there’s just so much more that we can do, you know, just kind of roll with the changes and innovate.”

VAT on prescription drugs at this time as it is already working to reduce the cost of medications through the National Prescription Drug Plan.

“While not all medications are duty-free, we are continuing the trend of reducing costs where possible. More people on the National Prescription Drug Plan means more access to duty-free medications, and we will continue to analyse further opportunities for removal of barriers,” he added.

Turning to the private sector, Mr Halkitis said: “I’d also like to address the private sector, particularly pharmaceutical retailers. When you purchase a prescription, you’ll often see a dispensary fee on your bill - sometimes higher than the VAT itself. We are reviewing this at the Consumer Protection Commission, and it is my view that these fees are arbitrary. We are asking retailers to examine how they can reduce costs and pass those savings on to consumers.

“The Government has been in a consistent mode of reduction, whether through Customs duties or reductions on food and other essential items. It’s important that these savings are not simply added to profit, but instead benefit the end consumer.

Affordability is a shared responsibility between government and the private sector, and we are committed to ensuring that every possible measure is taken to reduce costs for Bahamians.”

Force One that the U.S. was moving warships toward Iran "just in case" he wants to take action.

40,000, as fears grow some could face the death penalty.

U.S. President Donald Trump has repeatedly warned Tehran, setting two red lines for the use of military force: the killing of peaceful demonstrators and the mass execution of people arrested in the protests. Trump has repeatedly said Iran halted the execution of 800 people detained in the protests. He has not elaborated on the source of the claim, which Iran's top prosecutor, Mohammad Movahedi, strongly denied Friday in comments carried by the judiciary's Mizan news agency. On Thursday, Trump said aboard Air

"We have a massive fleet heading in that direction and maybe we won't have to use it," Trump said.

A U.S. Navy official, who spoke on condition of anonymity to discuss military movements, said Thursday that the aircraft carrier USS Abraham Lincoln and other warships traveling with it were in the Indian Ocean.

Trump also mentioned the multiple rounds of talks American officials had with Iran over its nuclear program before Israel launched a 12-day war against the Islamic Republic in June, which also saw U.S. warplanes bomb Iranian nuclear sites.

NOTICE

NOTICE is hereby given that DRIVELIA OMILUS of P.O. Box CR-54802, #7 Cowpen Road West, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

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 19th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

More than 10,800 flights canceled Sunday as massive winter storm sweeps across US

A MASSIVE winter storm made for a brutal travel day Sunday, with widespread cancellations and delays at some of the nation's busiest airports.

Widespread snow, sleet and freezing rain threatened nearly 180 million people — more than half the U.S. population — in a path stretching from the southern Rocky Mountains to New England, the National Weather Service said Saturday night. After sweeping through the South, the storm moved into the Northeast Sunday, and was expected to dump about 1 to 2 feet (30 to 60 centimeters) of snow from Washington through New York and Boston.

More than 10,800 flights were canceled on Sunday, according to flight-tracking site FlightAware. Aviation analytics firm Cirium said that as of Sunday morning, the storm is the highest

WINTER weather can upend even the best-laid travel plans, but one less thing to worry about is losing money if your flight is canceled: U.S. airlines are required to provide refunds.

A monster storm started to wreak havoc Saturday across parts of the country, with 12,200 weekend flights and counting canceled.

experienced cancellation event since the pandemic.

By Sunday afternoon, the majority of flights were canceled at busy airports in the Northeast and elsewhere. LaGuardia Airport in New York closed Sunday afternoon, according to the Federal Aviation Administration. The agency said on its website the busy Queens airport grounded flights until 8 p.m.

In Philadelphia, 94% of flights, 326 flights, were canceled. Ninety-one percent of flights, 433 flights, were canceled at LaGuardia Airport in New York. New York's John F. Kennedy International Airport had 460 flights canceled, about 79% of flights, according to FlightAware.

Ronald Reagan Washington National Airport said on its website that all airlines had canceled departing flights for the day, about 420 flights.

Significant disruptions also hit major airport hubs in Dallas-Fort Worth,

Forecasters warned that catastrophic damage, especially in areas pounded by ice, could rival that of a hurricane.

Here's a guide for winter travelers as flight disruptions pile up:

Keep an eye on weather forecasts

When airlines expect bad weather to create problems for flights, they often give travelers a chance to

Charlotte, Philadelphia and Atlanta, home to the nation's busiest airport.

Allan Lengel of Detroit planned to return Monday from Fort Lauderdale, Florida, where the temperature has been in the 80s. But he's staying until Wednesday after Delta suggested he change his reservation because of the weather impact on flights.

"Can't say I'm disappointed. Frankly, I had been thinking of returning later because of frigid weather," Lengel, 71, said, referring to conditions in Michigan.

American Airlines had canceled over 1,400 flights for Sunday, about 46% of its scheduled flights for Sunday, according to FlightAware. Delta Air Lines reported over 1,300 cancellations and Southwest Airlines reported over 1,260 cancellations for the day, while United Airlines had about 900. JetBlue had more than 570 canceled flights, accounting for

postpone their trips by a few days without having to pay a fee. Search online for your airline's name and "travel alerts" or similar phrases to look for possible rescheduling offers.

American Airlines, for example, said it is waiving change fees for passengers impacted by the storm and adding extra flights around the country in an effort to help passengers reach their

roughly 71% of its schedule for the day.

Vikrant Vaze, a Dartmouth professor specializing in commercial aviation logistics, said recovery from the storm cancellations and delays will take days if not longer. And even for travelers who aren't in areas that were directly affected by weather, cascading delays could still affect their travel plans.

"Because there are so many different airlines involved, I think it's going to come down heavily to the individual airline's network structure, the extent of hit that each of them has had, and just the intrinsic capacity of the airlines to handle

destination after the storm passes.

Check before going to the airport

Use the airline's app to make sure your flight is still on before heading to the airport.

Cancellations can happen hours — or even days — before departure time.

Consider American and Delta Air Lines: By mid-day Saturday, each carrier had

these massive disruptions," he said.

My flight was canceled, now what?

If you're already at the airport, get in line to speak to a customer service representative. If you're still at home or at your hotel, call or go online to connect to your airline's reservations staff. Either way, it helps to also research alternate flights while you wait to talk to an agent.

Most airlines will rebook you on a later flight for no additional charge, but it depends on the availability of open seats.

Can I get booked on another airline?

Am I owed a refund?

If your flight was canceled and you no longer want to take the trip, or you've found another way to get to your destination, the airline is legally required to refund your money — even if you bought a non-refundable ticket. It doesn't matter why the flight was canceled.

The airline might offer you a travel credit, but you are entitled to a full refund. You are also entitled to a refund of any bag fees, seat upgrades or other extras that you didn't get to use.

You can, but airlines aren't required to put you on another carrier's flight. Some airlines, including most of the biggest carriers, say they can put you on a partner airline, but even then, it can be a hit or miss.

canceled more than 1,000 of its scheduled Sunday flights, according to flight tracking site FlightAware. Oklahoma's largest airport suspended all flights Saturday, while Dallas–Fort Worth International Airport, a major hub, saw more than 700 departing flights canceled and nearly as many arriving flights called off. Flight disruptions also were stacking up at airports in Chicago, Atlanta, Nashville and Charlotte, North Carolina.

Disruptions were expected to intensify Sunday, FlightAware data showed. By late Saturday afternoon, nearly all departing flights scheduled to leave Ronald Reagan Washington National Airport on Sunday — 405 flights, or about 95% — had already been canceled. Major disruptions were also forecast for airports in Charlotte and Atlanta, home to the nation's busiest airport, as well as New York's John F. Kennedy International Airport and LaGuardia Airport, where 87% of Sunday's departing flights have so far been canceled. My flight was canceled, now what?

If you're already at the airport, get in line to speak to a customer service representative. If you're still at home or at your hotel, call or go online to connect to your airline's reservations staff. Either way, it helps to also research alternate flights while you wait to talk to an agent.

Most airlines will rebook you on a later flight for no additional charge, but it depends on the availability of open seats.

Can I get booked on another airline?

You can, but airlines aren't required to put you on another carrier's flight. Some airlines, including most of the biggest carriers, say they can put you on a partner airline, but even then it can be a hit or miss.

Am I owed a refund?

If your flight was canceled and you no longer want to take the trip, or you've found another way to get to your destination, the airline is legally required to refund your money — even if you bought a non-refundable ticket. It doesn't matter why the flight was canceled.

The airline might offer you a travel credit, but you are entitled to a full refund. You are also entitled to a refund of any bag fees, seat upgrades or other extras that you didn't get to use.

When will I get my refund?

If you paid with a credit card, a refund is due within seven business days after you decline an offer from the airline for another flight or a voucher, and within 20 calendar days if you paid for the ticket with a check or cash, according to the U.S. Department of Transportation.

What else will my airline cover?

U.S. airlines aren't required by the Transportation Department to compensate passengers for meals or lodging when an airline cancels or significantly delays a flight during an "uncontrollable" event like bad weather.

Each airline, however, does have its own policies for assisting passengers who are stranded by a so-called "controllable" flight cancellation or long delay. These include disruptions caused by maintenance issues, crew shortages or computer outages that halt operations. The Transportation Department can hold airlines accountable for these commitments and maintains a website that lets travelers see what each airline promises if a major disruption is their fault. Other tips

If the weather forecast is troubling, Kyle Potter, executive editor of Thrifty Traveler, suggests looking into booking a backup flight. Some airlines stand out as potential backups, Potter says, because they let customers get a full refund as long as they cancel within 24 hours of booking.

The customer service phone lines will be slammed if flight cancellations and delays start stacking up during a bad storm. If you're traveling with someone who has a higher frequent-flyer status, call the airline using their priority number. Another trick: Look up the airline's international support number. Those agents can often rebook you just the same.

A FLIGHT status screen shows canceled flights at Philadelphia International Airport during a winter storm in Philadelphia, Sunday, Jan. 25, 2026.
Photo:Matt Rourke/AP

Wall Street drifts as Intel tumbles and gold’s price rises to another record

THE U.S. stock market drifted through mixed trading Friday, as a zigzag week punctuated by loud threats and pullbacks finished with a quiet and tentative close.

The S&P 500 was basically flat and edged up by less than 0.1% but still notched a second straight week with a modest loss.

The Dow Jones Industrial Average dipped 285 points, or 0.6%, and the Nasdaq composite rose 0.3%.

The majority of stocks on Wall Street fell, and Intel weighed on the market after tumbling 17%. The chip company reported better results for the end of 2025 than analysts expected. But investors focused instead on its forecast for the first three months of this year, which fell short of Wall Street's expectations.

Chief Financial Officer

David Zinsner said shortages of supplies are affecting the entire industry, and Intel expects available supply to hit a bottom early this year before improving in the spring and beyond.

investors are still looking for something safer to own. It's already up nearly 15% for the year so far.

On Wall Street, Capital One Financial sank 7.6% after reporting a weaker profit for the end of 2025 than analysts expected. It also said it was buying Brex, which helps businesses issue corporate credit cards, for $5.15 billion in cash and stock.

In the bond market, Treasury yields inched lower as prices for U.S. government bonds rose.

A survey of U.S. consumers said expectations for inflation in the upcoming year improved to 4%. That's the lowest such reading in a year, according to the University of Michigan's survey, even it remains well above the 2% inflation that the Federal Reserve targets.

That kind of improvement could help avoid a worst-case scenario the Fed has been desperate to avoid, one where expectations for high inflation trigger a vicious cycle of behavior that only worsens inflation.

CEO Lip-Bu Tan highlighted the company's opportunities created by the artificial-intelligence era. Moves in the U.S. bond market were relatively modest following sharp swings early in the week, but other markets still showed potential signs of nervousness.

currencies. It had slid sharply early in the week after President Donald Trump threatened 10% tariffs on European countries for opposing his push to own Greenland.

The U.S. dollar's value fell against the Japanese yen, Swiss franc and other

That drop, paired with declines for prices for U.S. Treasury bonds, had suggested global investors may be backing out of U.S.

markets. But some relief came on Wednesday after Trump announced "the framework of a future deal with respect to Greenland" and called off the tariffs, though few details are available about it.

Gold's price, meanwhile, rose to another record Friday and neared $5,000 per ounce in a signal that

Minnesota CEOs issue joint letter urging de-escalation in Minnesota after shooting

MORE than 60 CEOs of Minnesota-based companies including Target, Best Buy and UnitedHealth signed an open letter posted on the Minnesota Chamber of Commerce website on Sunday calling for state, local and federal

officials to work together, as businesses grapple with how to address tensions in the state and across the country following two fatal shootings by federal agents amid a massive immigration enforcement operation that has spurred protests.

"With yesterday's tragic news, we are calling for an immediate deescalation of

tensions and for state, local and federal officials to work together to find real solutions," the open letter reads.

CEOs that signed the letter included 3M CEO William Brown, Best Buy CEO Corie Barry, General Mills CEO Jeff Harmening, Target incoming CEO Michael Fiddelke, UnitedHealth Group CEO

Stephen Helmsley, and others.

Before the letter, most of the biggest Minnesota-based companies had not issued any public statements about the enforcement surge and unrest.

But the issue has become more difficult to avoid.

Over the past two weeks

On the winning side of the market was CSX, which climbed 2.4% even though the railroad reported a weaker profit than analysts expected. Some analysts highlighted the company's forecast for how much more operating profit it expects to retain from each $1 of revenue during 2026.

Clorox gained 1.1% after saying it was buying the maker of Purell, GOJO Industries, for $2.25 billion in cash.

All told, the S&P 500 rose 2.26 points to 6,915.61. The Dow Jones Industrial Average fell 285.30 to 49,098.71, and the Nasdaq composite rose 65.22 to 23,501.24.

protesters have targeted some businesses they see not taking a strong enough stand against federal law enforcement activity, including Minneapolis-based Target. Earlier in January a Minnesota hotel that wouldn't allow federal immigration agents to stay there apologized and said the refusal violated its own policies after a furor online.

Overall sentiment among U.S. consumers was also a touch stronger than economists expected. That could help keep them spending and the main engine of the U.S. economy humming. A separate preliminary report from S&P Global suggested growth is continuing for U.S. business activity.

The yield of the 10-year Treasury fell to 4.23% from 4.26% late Thursday.

Meanwhile, the state of Minnesota and the Twin Cities cited devastating economic impacts in a lawsuit filed this month imploring a federal judge to halt the immigration operations. The lawsuit asserted that some businesses have reported sales drops up to 80%.

"In this difficult moment for our community, we call for peace and focused cooperation among local, state and federal leaders to achieve a swift and durable solution that enables families, businesses, our employees, and communities across Minnesota to resume our work to build a bright and prosperous future," the letter reads.

TRADERS JOHN ROMOLO left, and Michael Conlon work on the floor of the New York Stock Exchange, Thursday, Jan. 22, 2026. Photo:Richard Drew/AP

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.