04082026 BUSINESS

Entrepreneur’s supply cut-off cost Atlantis and Baha Mar retail deals

BY NEIL HARTNELL Tribune Business Editor

A BAHAMAS-based entre-

preneur has launched legal action against his US distributor after it allegedly cost him an opportunity to do business with retail outlets in Atlantis and Baha Mar, plus the Sandals resort chain, by arbitrarily cutting-off product supplies.

Laurence Smith-Taylor and Walk Good Bahamas, in a March 30, 2026, legal claim filed in the central California federal court, alleged that - after a painstaking eight-year effort - they were finally poised to do business with ITS Group, a Bahamian retail chain that operates 11 different outlets in Atlantis and Baha Mar, only for Alpargatas USA to halt all deliveries of its footwear products. Besides leaving them unable to fulfill the ITS Group order, which had already been placed, Mr Smith-Taylor and Walk Good Bahamas also claimed that - apart from “losing smaller retailers and other major hotel groups” - Alpargatas’ decision to cease supplying product also threatened a deal to create a ‘store within a store’ concept at Sandals. As a result, they are demanding that the California court order that their US supplier pay them unspecified damages for breach of contract; breach of fiduciary duty; breach of good faith and fair dealing;

Product loss blew eight-year push with Bahamas retail group

And purportedly halted ‘store in store’

Sandals arrangement

Bahamas-based firm seeking damages in California courts

fraudulent inducement; and interference with business relationships over the commercial opportunities that have allegedly been lost through the termination of product supplies with no warning or explanation.

Alpargatas USA is the US distributor for the Brazilian footwear brand of the same name, which specialises in producing canvas and cotton shoes. Its main brand is Havaianas, one of the largest Brazilian labels for rubber flip-flops that was introduced in 1962, with other Alpargatas products including handbags, shoes and sneakers.

Tribune Business efforts to track down and contact Mr Smith-Taylor proved fruitless. The contact numbers listed online for Havaianas Bahamas and Walk Good Caribbean, to which

Bahamian-led group ‘Myles Ahead’ at former Club Med

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BAHAMIAN businessman and his partner are planning “a measured hospitality and residential” development at Governor’s Harbour after acquiring Eleuthera’s former Club Med resort property, Tribune Business can reveal.

Anthony Myers, Bahamas Hot Mix's chairman and founder, has teamed with James Lyle, founder of Lyford Cay-based investment management firm, Fulmar Advisors, to purchase the site that holds the ruins of the former hotel which was shuttered more than a quarter-of-a-century ago following its 1999 closure in Hurricane Floyd’s aftermath. The duo’s acquisition and development vehicle, Myles Ahead Ltd, in a statement responding to Tribune Business inquiries, offered few details on their development plans given that these are still in the early stages and subject to consultation with the local Eleuthera community plus review by the relevant government regulatory agencies. However, they appeared to try and distance themselves from the $650m all-in investment in a 600-acre resort destination that is being proposed by US gaming and hospitality developer, Jeff Jacobs, for a site located near to their project. Myles Ahead Ltd, while emphasising that they are two different projects, emphasised that its own

Google and other searches for ‘Walk Good Bahamas’ were directed, did not work while the website was also non-functional.

The California lawsuit, though, names Walk Good Bahamas as a company incorporated in this jurisdiction with its “principal place of business” at No.2 Ivanhoe Road. That is a location just north of the drive-through for Popeye’s Bahamas Mackey Street restaurant, and south of ICS Security Concepts.

Mr Smith-Taylor and Walk Good Bahamas are alleging that, following the former’s 17-year uninterrupted relationship with Alpargatas USA, problems in obtaining sufficient supplies and product quantities only arose in July 2025 with the impact now being fully felt.

“As a direct and foreseeable result of Alpargatas’ wrongful conduct, Walk Good Bahamas was unable to do business with a major client in the Bahamas, known as ITS Group, which operates more than nine thirdparty retail locations including the Atlantis resort and Baha Mar hotel in The Bahamas,” the duo alleged.

“Alpargatas had been attempting to do business with the ITS Group for over eight years, and when ITS Group finally placed an order with Walk Good Bahamas it could not be filled because Alpargatas had ceased supplying product.” ITS Group is

Junkanoo Beach vendors blast ‘crazy’

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

JUNKANOO Beach vendors yesterday asserted they are suffering a “mental and financial toll” from purported harassment by over-zealous Ministry of Tourism security personnel, with their president branding the situation “crazy” and “not conducive to commerce and tourism”.

Byron Coley-Austin, the Junkanoo Beach Association (JBA) head, told Tribune Business that he and his members - who have been complaining about the actions of security guards for 18 months - saw their concerns come to a head last Thursday just ahead of the peak Easter tourism weekend with “aggressive enforcement” resulting in a hair braider and other vendors being ordered to shut their operations.

harassment

“It’s just very frustrating, and this continuing effort to provoke and harass is unconscionable,” he said. “It’s really taking a toll on everyone mentally, financially and otherwise. It’s crazy. It shouldn’t be that way. It’s crazy. It’s being going on for 18 months. It’s just a constant harassment that’s not necessary. Everyone wants to work and comply.

“We need to bring it to light and call them out for exactly what they’re doing. They are not operating on the basis of creating an atmosphere that is conducive for business and visitors. They are constantly trying to disrupt and create chaos for whatever reason. It has to be exposed and has to be disclosed.

“It’s quite obvious they are trying to build a case [against certain vendors] and flinging

Cable slams URCA licence fee doubling in five years

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

CABLE Bahamas has hit out at “exorbitant increases” in its regulator’s budget that threaten to impose an “increased burden” and have “a material impact on investment decisions” by itself and other licensees in a fast-evolving sector that is critical to this nation’s economy. The BISX-listed communications provider, in a February 6, 2026, response to the Utilities Regulation and Competition

Authority’s (URCA) annual draft plan, argued that the 43 percent increase in the regulator’s budget for overseeing the Bahamian communications industry “would typically warrant close scrutiny” by its Board of Directors - an observation echoed by its main rival, the Bahamas Telecommunications Company (BTC). And Cable Bahamas argued that much of this spike appears to be related to “international public relations activity” - The Bahamas’ hosting of the ITU

$650m

resort

plan

‘not what we want’ as Eleuthera model

Ex-BNT chief ‘laid out’ density concerns for US developer

Warned about challenges with Family Island development

But beach access, path pledges could help ‘build trust’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

AN ex-Bahamas National Trust (BNT) chief yesterday disclosed he has “laid it out” for the US developer behind a $650m resort destination proposed for Governor’s Harbour that his ambitions are “too large, too dense and not what we want for Eleuthera”. Eric Carey, president and chief executive of One Consultants, who now also lives on the island, told Tribune Business he had voiced his concerns directly to Jeff Jacobs, chairman and chief executive of Jacobs Investments, and argued that the residential real estate component, in particular, needed to be “downscaled” from the planned 350-plus units.

Describing the encounter with Mr Jacobs as “very

cordial”, he added that most Governor’s Harbour and Eleuthera residents have “no appetite for a casino” - even the small, restaurant-sized amenity promised by the US gaming and hospitality. And the former BNT executive director said he also warned that any gaming facility will likely face opposition from the island’s religious

Cherish Governor’s Harbour as a community - not as a commodity

Governor’s Harbour is not a concept. It is not a development opportunity waiting to be reshaped. It is a living community built over generations, rooted in history, culture, and a way of life that cannot simply be recreated once lost.

And yet recent statements by Jeff Jacobs of J Resorts, who is proposing a large-scale development with a golf course, casino, mega yacht marina and 350-plus houses, ask this

community to accept something profound: Years, possibly decades, of construction, disruption and transformation in the name of progress. So let us ask the question plainly: Are residents truly being asked to live through five, ten, even 20 years of construction and upheaval just to permanently alter the fabric of Governor’s Harbour for centuries to come?

There is a tendency to frame large developments

as inevitable and beneficial. But that framing often overlooks the real, lived consequences for the people already here. This is not a short-term inconvenience. It is long-term construction noise and disruption. Increased traffic through historic, narrow roads; pressure on infrastructure not built for mass expansion; environmental strain on fragile coastal ecosystems

And all of it in a town whose value lies precisely

Conferences target long term Eleuthera prosperity

THE two annual Eleuthera Business Outlook conferences will be held on successive days next week - on Thursday, April 9, in Rock Sound and then on Friday, April 17, at Valentine’s Resort in Harbour Island.

Staged under the theme ‘Strengthening foundations for long-term prosperity’, the two-day event will examine economic opportunities and challenges facing Eleuthera, Harbour Island and Spanish Wells, while outlining strategies for sustainable economic growth and investment.

Thomas Sands, president of the Eleuthera Chamber of Commerce, said the island’s economy continues to show steady momentum.

“In general, the economy of Eleuthera continues to see positive movement. Some of it has slowed a little after major construction projects, but overall, there is confidence that the economy is moving forward in a positive direction,” he said.

“Sustained growth is being supported by the diversity of investments

from different groups. Most of these developments are funded by groups with the resources to weather challenges; they are not relying solely on banks for financing. This is a positive sign for the island.” Mr Sands also emphasised long-term planning, adding: “Maximising foreign direct investment requires a strategic plan. We need to empower the backbone of the economy so that incoming investment is retained and reinvested in local communities.”

Eric Carey, president and chief executive of One Consultants, who will speak on sustainable development, said tourism activity across Eleuthera remains strong. “Generally, tourism is really looking up on this island. Harbour Island and Spanish Wells are booming, whether it’s golf carts buzzing around Spanish Wells or private jets at North Eleuthera Airport,” he said. “Tourism impact is gradually extending south, with projects like Cotton Bay fully operational and the Disney Cruise Port in southern Eleuthera. This

growth is exciting, but infrastructure must keep pace. We embrace development, but it must not outpace the community’s capacity.”

Ben Simmons, owner of The Other Side and Ocean View resort properties, said differences across the island chain require targeted strategies. “Eleuthera versus Harbour Island is very different. Harbour Island has benefited from a touch of fairy dust, but Eleuthera requires educating visitors about its unique opportunities,” Mr Simmons said.

“We’ve grown from ten employees to 120 across multiple businesses. The lesson is that small, precise businesses, scaled thoughtfully, create sustainable growth.”

The first day in Rock Sound will feature a keynote address from Clay Sweeting, minister of works and Family Island affairs, alongside presentations by Javier Rodriguez of Marriott International on economic opportunities and Amber Carey of Cable Bahamas on artificial

in its peace, simplicity and authenticity. The question is not whether development brings change - it always does. The question is whether that change respects the place it enters, or overwhelms it.

There is a growing trend across the Caribbean. Small, culturally rich communities being transformed into high-end enclaves designed for a global elite. That has issues of its own, but often you end up seeing condos and crowded

intelligence (AI) and small business.

The agenda will also feature first-time presenters including Prince Rahming, Bryan Glinton, Patrice Jackson, Keith Roye and Candace Fields, bringing fresh perspectives to discussions on tourism, business development, entrepreneurship, workforce challenges, infrastructure and emerging economic sectors, alongside contributions from Roger Archer of Scotiabank and other industry stakeholders.

The second day at Valentine’s Resort will again be led by Clay Sweeting, minister of works and Family Island affairs, with a featured address from Latia Duncombe, director-general of tourism, highlighting national tourism priorities.

over-development to turn profit and it creates the opposite. It is overrun with tourism to the point where it drives many away, degrades the area and makes it significantly less desirable for locals and visitors. Over-tourism, such as what is being proposed for Governor’s Harbour, can result in:

* Rising costs that push out local residents

* A shift in identity from community to commodity

Sessions will also include presentations by Shakera Johnson of Cable Bahamas and Roger Archer of Scotiabank, along with panel discussions involving Henry Rolle, Lee Prosenjak and Jay Jay Percentie, as well as contributions from Keyron Smith of the One Eleuthera Foundation and other stakeholders focused on workforce development, infrastructure and sustaining investment across the island.

Mr Sands said: “The pace of growth is faster than what our communities were prepared for. While there are challenges, this is a moment of tremendous opportunity for Eleuthera

* A loss of accessibility and authenticity

Governor’s Harbour does not need to follow that path. There is immense value in a place that remains grounded, tied to its roots and authentic in a day and age where these places are getting remodelled and transformed all over the world. People are hunting for places such as Governor’s Harbour to explore, discover and enjoy - as it is. It is rare to find communities like this. That is the value. Some places are meant to remain deeply human, deeply local and deeply real.

Yours sincerely Concerned resident of Governor’s Harbour, Eleuthera

to plan, invest and thrive for the long-term.”

Mr Carey added: “Tourism, development and community must move in tandem. This is the moment to ensure sustainable, long-lasting prosperity.” Mr Simmons said: “By thinking strategically, acting locally and connecting meaningfully, Eleuthera can achieve growth that benefits everyone.”

For more information, contact Audrey Tynes, executive director, Eleuthera Chamber of Commerce  -- atynes@eleutherachamberofcommerce.com/ 699-6551, or Margaret Albury at 322-1000 or malbury@tclbahamas.com. Registration is available at tclevents.com

Jitney drivers: No plan to halt over fuel costs spike

BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

BAHAMIAN jitney drivers yesterday asserted there are no plans for a strike or to halt operations if they do not receive a fare increase to offset soaring fuel costs after their union issued a statement that “hardship shall become a matter of making decisions”.

Corvell Colebrooke, general-secretary of the Bahamas Unified Bus Drivers Union, told Tribune Business that “we didn’t hint at anything. There’s nothing in that that says we’re going to do anything” after the union warned it will inevitably have to ask the Government for a fare increase due to the Middle East conflict’s impact on global oil prices.

“Due to the spike and increase of crude oil per barrel, local fuel retailers have revamped prices at the pump, up by 20 percent. Local bus parts retailers have also hiked up fees on parts,” the union added.

“Thus we as operators/ owners cannot sustain this to operate buses daily

because of yhe high cost of fuel. We as the Bahamas Unified Bus Drivers Union will have to ask the Government for an increase in bus fare or some sort of relief. We also ask the public who utilise buses to please pay your correct bus fare on ‘entering’.

“The next few days will be crucial as to the pathway we shall take as a union. We don’t want to inconvenience the public, our most loyal customers. However, if the prices continue to escalate operations and hardship shall become a matter of making decisions.”

Mr Colebrooke said that, if the taxi drivers are given a fare increase, he has hope that bus operators will receive the same. “Because something's got to be done for both sides,” he said.

“You just can't do for one and [don’t] do for the next. “Taxi drivers do not move continuously. Taxi drivers sit and wait. Bus drivers are on the road, as they say, anywhere between 13 to 15 gallons per day. Taxi drivers do not spend that amount of money on fuel. “We are more under the control of government than taxis because taxis, they

PM blasts Pintard again on Post Office Savings Bank

BY ANNELIA NIXON Tribune Business Reporter

THE Prime Minister yesterday backed the Post Office and its Savings Bank as the “most accessible” location for Bahamians to send and receive mail, plus obtain their funds, as its Shirley Street office was renamed after a former postmaster general.

Philip Davis KC, speaking at the soft launch of the John V Saunders Post Office, said its Savings Bank serves many Bahamians, especially those in the Family Islands, who may lack access to a commercial bank. He blasted those who do not understand the importance of the Savings Banks, calling out “those vying for leadership” who “speak ignorantly about this institution” in a thinly-veiled attack on Opposition leader, Michael Pintard, ahead of the upcoming general election.

“There are some who are so disconnected and privileged that they don't realise people still use the Post Office,” Mr Davis said.

“They probably pay for the expensive courier services and live on an island with regular access to

commercial banks. So they can't relate to the struggle.

“There are those who look at the Post Office and see something to be shut down. They see the Post Office Savings Bank as a relic to be done away with. That is a very dangerous oversight for any would-be leader to be guilty of.” Mr Davis said more than 35,000 Bahamians hold accounts with the Post Office Savings Bank, and new accounts continue to be opened including across the Family Islands. These accounts, he added, are opened by pensioners, fishermen, farmers and small business owners. He said his administration raised the deposit cap from $6,000 to $10,000, and has committed to sustaining a 5 percent interest rate in deposits.

“Those who speak loosely about dismantling this service should consider the human impact of what they're proposing. Their plans were made in ignorance of the true value of our Post Office. But I think we know better. That is why we are investing and expanding the services on offer. This administration raised a deposit cap from $6,000 to $10,000,” Mr Davis added.

have a guideline that they should meet but nobody's there to say they are going to do it. Buses have a guideline that we have to adhere to because the public knows what that guideline is. And the public is on our side. The riding public is on our side…”

Mr Colebrooke said jitneys average anywhere between 12 to 15 gallons of fuel a day, which can change depending on the route. He said that drivers are spending $85 daily for fuel as of last week, adding that they are being warned that prices will increase again “any day now”,

“If you watch what is going on around the world, and then if you watch what is going on in the US, the price of diesel in the US is over $5,” he said. “So, if the price of diesel in the US is $5, it gone up, what? About $1.50 here? Think what is going to happen in the next two to three weeks. Soon we’re going to hit, $8, $9.

“It's not only that, because everybody think it's only fuel, but the imports of parts, because shipsnot only ships, you can say, planes also - the majority of our parts comes by what?

“We committed to sustaining a 5 interest rate at a time when the commercial banks are offering less than 1 percent on your deposits: The same commercial banks have left our islands hanging with no options for banking. These banks are private institutions. They operate on the basis of profit.

“But the well-being of our people should not be subjected to the whims of a corporation’s shareholders. I believe the Government has a mandate to serve people on every island in our archipelago; not on the basis of profit, but on the basis of need. And if the banks want to return, they are always welcome to serve alongside the Government.”

Mr Davis continued: “The only thing that getting rid of the Post Office Savings Bank would accomplish is the destabilisation of our Family Island communities, the unemployment of over 98 workers serving our Family Islands and the stranding of thousands of  unbanked Bahamians with nowhere to go.

“So closure is never an option, which is why we are committed to expanding, modernising and strengthening the Post Office to continue to meet the needs of Bahamians on every island. That is why we honour the legacy of a lifelong public servant who served to protect that institution for 40 years, a public servant like John Saunders, a man who understood

Ship. You ain't bringing no tyre on no plane. You’re bringing it on a ship. So our parts are coming by ship also.

“So ships, because they use diesel, they will put that on the price of parts. So the price is high. We were ever having a problem with the high price of parts now. All of a sudden, last week, it jump again,” he added.

“So the diesel going up and now the parts going up. That right now isn't helping us. We are right now in a bad situation, and because the Government which, you know, the House is dissolving tomorrow, the Government, where they don't listen, where they think they smarter than everybody else, you're telling them something but no, they got to listen to one foreign consultant who don’t know nothing about The Bahamas. That can’t work. So the 25 cents that they give you, that gone automatically, because as soon as that 25 cent raise came the diesel price and the parts price went up at the same time.”

Peter Roker, operator and owner of Roker’s Gas Station, said that with fuel currently at $6.58 in The Bahamas it is quite possible for pump prices to reach as high as $20. He added that there is also a possibility that Bahamian petroleum retailers and their wholesale suppliers may not be able to obtain gas from suppliers at all.

“We are at $6.58 a gallon now, and if there is any

further escalation with the conflict, definitely, in my personal opinion, that will go up,” he said. “And like I’ve said before, no one can say that gasoline can’t go up to $20 a gallon. No one can say that. And also no one can say that we are guaranteed to have gas.

“Look at it this way, how much fuel do we have in storage in The Bahamas?... If the war continues as it is, there might just be incremental increases. But anything can happen. And then it's not a question of people speculating as to what gas will cost. It would be a question of not having the gas.”

Meanwhile, The Bahama Taxicab Union is awaiting a response after holding a meeting with Road Traffic Department officials and writing letters requesting a fare increase to cover the higher fuel costs. Tyrone Butler, the union’s president, said the meeting seemed positive and the union left a proposal for the Government to review and are awaiting a reply.

“We did meet last week with them, and we left a proposal on the table for them to consider with respect to the rising fuel cost because you know, gas prices skyrocketed in the last week,” he said. “In the meeting, it was positive, but they said just put it in writing, so we formally documented it. So we’re just waiting on a response from them. I think he has to go speak with the permanent secretary or the minister.

“We were just bouncing around different suggestions on what could possibly be a reasonable rate. And so we pitched a couple of things to them, and they proposed a couple of suggestions to us.

So, when we finally agreed on something that might be workable, we said let's put it

in writing, and we'll go and sell that to the minister or the permanent secretary, who is responsible. So that's what we did.”

However, Mr Butler, noted that some taxi operators have already increased their fares to accommodate hiking fuel costs, highlighting the need for guides provided by the Government.

“That is why we wanted to meet with the officials to kind of get a balanced approach to it, so we don't have this indiscriminate pricing where everybody has a different price, confusing the customer,” he said. “So, a guest staying at any of these resorts - that is Baha Mar, Atlantis, British Colonial, Margaritaville, they're here for two or three days, and they can end up taking four or five different taxi drivers.

“And every trip they take, the fare could be different. And so that's the whole purpose of us meeting with them to ensure that we get one flat rate where we know that the pricing should be as close as possible. The prices shouldn't be off any significant amount. So we want to make sure there's synergy with the pricing. So that is what we're trying to achieve.

“We have no control over what the taxi drivers do, because remember now, they are self-employed persons and so they operate their own business, even though we are the union that speaks on their behalf. We cannot tell them directly they can’t do it. So what we would do is we would try to have a system in place that the union and the Government is aware of that these are the guidelines that they are to follow. So if anybody goes outside those guidelines, at least the union can defend their position.”

Bahamians push back: We’re killing goose laying gold egg

leaders on “moral” and ethical grounds. Through Jacobs Investments, and its Jacobs Entertainment subsidiary, Mr Jacobs owns and operates resorts and casinos in US destinations such as Reno and other Nevada cities, plus Colorado and Louisiana, but Mr Carey warned that developing in The Bahamas - especially in the Family Islands - is much different from the US and comes with its own set of challenges.

However, he told this newspaper that Mr Jacobs may “win hearts and minds” in Governor’s Harbour and the wider Eleuthera community if he delivers on promises to preserve, and create, beach access for Bahamians and residents along with his planned “community pathway” that is intended to run throughout the area.

And Mr Carey said he informed the J Resort proponent that it was vital he become involved with the community, unlike many other developers, as this is “critical to win trust” otherwise he will be perceived as just another investor “coming in and out quickly.”

Disclosing that the meeting with Mr Jacobs was arranged via Janeen Bullard, the Bahamian environmental consultant and JSS Consulting principal who is conducting the necessary Environmental Impact Assessment (EIA) studies for the development, Mr Carey said it took place after he obtained the December 2025 presentation setting out plans for a 600-acre development “stretching from the Atlantic Ocean to the Caribbean Sea”.

“I laid it our for Mr Jacobs,” Mr Carey told Tribune Business. “We believe it’s too large, too dense for Eleuthera. That’s not what we want.” The US developer, though, told Mr Carey what he has confirmed to this newspaper - that the proposed 18-hole golf

course on a 177-acre site located near Governor’s Harbour airport has been “put on hold for a variety of economic, environmental and competitive reasons”.

“I told him we have issues with the golf course, which he says he is no longer considering,” the ex-BNT chief added. “I asked if it was off the table. He said it was on hold. I asked what that means - is it on hold or off the table - and he said it is off the table, and he is not going to do a golf course; it didn’t make any sense.”

As for the proposed “boutique” gaming facility, Mr Carey added: “Presently, most of the people I spoke to have no appetite for a casino…. I mentioned that to him. I said to him that is one he will have to get through the community because the leaders, especially the religious leaders, will have moral and ethical issues with the casino. What I’m telling you is the community don’t want a casino. But he seems to be stuck on that, and is going to go forward with that.”

Mr Jacobs, in his response to Tribune Business inquiries, acknowledged that the proposed boutique casino would need to be approved by Bahamian regulators such as the Gaming Board. He said said the proposed casino will be “the size of a restaurant” and far smaller than those at Atlantis and Baha Mar.

The US gaming developer added that the J Resort casino will be modelled as “a James Bond-style gaming salon” to give wealthy, high-spending visitors an extra incentive to visit Governor’s Harbour and give the destination a “must see” vibe.

Mr Carey, though, said he had asked Clay Sweeting, minister of works and Family Island affairs, who is also the local MP as the representative for south and central Eleuthera, for his “views on the casino”. He added: “Clay did tell me that he was not a fan of the casino, and will be guided by local sentiment - especially

if there are concerns from the religious community.”

Mr Sweeting did not respond to Tribune Business calls and messages, seeking to confirm his position, before press time last night. However, Mr Carey said he had urged Mr Jacobs to downsize his ambitions for Governor’s Harbour and the wider central Eleuthera area - particularly the “five resort-related neighbourhoods” containing more than 350 total vacation residential properties.

“I left Mr Jacobs with this: If your development is going to go forward, it needs to downscale. You don’t need hundreds of homes,” Mr Carey told Tribune Business. “They should be Baker’s Bay-style homes; large estate homes, family, exclusive. That’s what your market should be, not hundreds of homes.

“I also told him that this will not be like some of the developments that he has done in the US. You’re coming into an island with different development limitations and opportunities and environmental limitations, and there’s also the issue of labour. Where are you going to get all the workers that will be needed?”

Disclosing that they parted on good terms, and that he and Mr Jacobs will likely meet again, Mr Carey added on a positive note: “He said he’s going to be very pro public access to his beaches. I told him that if he does that he will win friends in the local community, as people are very upset about beach access being closed off.

“I also said to him that a lot of developers come in and don’t get involved in the community. I reflected that, growing up in Eleuthera, we had home owners on Windermere Island, Cotton Bay and Banks Road who were great supporters of the community and philanthropists, developing clinics and other amenities. I told him: ‘That’s what you’ve got to do to win the trust of the community otherwise they will see you as another developer coming in and out quickly’.”

Mr Jacobs, in his e-mailed response to this newspaper, voiced willingness to finance a public-private partnership (PPP) with the Government that will create “a dedicated circulation route for bicycles, golf carts and pedestrians” throughout the Governor’s Harbour area that he is calling a ‘community pathway’.

NOTICE

NOTICE is hereby given that KATHLEEN CHUCK of #1 Maderia Close, Killarny Shores, 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 twenty-eight days from the 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 2nd day of April, A.D., 2026. The Liquidator is Galnom Ltd., CUB Financial Center, Western Road, Nassau, Bahamas.

And creating, and maintaining, beach access for Bahamians and residents also features in his plans.

“We envision the pathway providing public connectivity throughout Governor’s Harbour from the Caribbean Sea to the Atlantic Ocean,” Mr Jacobs said.

“We envision the community pathway being owned by the Government of the Bahamas and located on current and future government right of ways.

“We will be donating dollars to the Government for a pilot project of the community pathway, and we hope in the future that its strong popularity will cause the Government to join us in investing in this quality of life and tourism-building amenity.

“In our December 2025 project summery we state that our project is dependent on public circulation from Banks Road/ Alexander Boulevard to our property, where we locate a public restaurant and create a permanent public beach easement on the north end of French Leave Beach. We have also acquired a 50-foot wide piece of beach access on the south section of French Leave Beach, which will contain a second permanent public access to the Atlantic Ocean,” he added.

“We are committed to continuing this circulation north on Old Banks Road, creating world class public as well as private spaces along the ocean. The good news is that further research has revealed there is an Alexander Boulevard right of way extension already in place connecting Alexander Boulevard to our property. We only need to pave it, and we have asked the Government of the Bahamas not to accidentally give it away to others, which would deny us public road circulation to our land on the north end of French Leave Beach.

Casuarina McKinneyLambert, executive director of the Bahamas Reef Environmental Educational Foundation (BREEF), and another Eleuthera resident, backed Mr Carey’s position on the J Resort proposal amid significant online push back by Bahamians - not just Governor’s Harbour residents - to Mr Jacobs’ proposals.

“It’s still not the right scale for Eleuthera,” she told Tribune Business yesterday. “I think it needs to go back to the drawing board. That is not what Eleuthera is all about.”

NOTICE

NOTICE is hereby given that I, FRANDLEY SAINT JUSTE of Cambridge Street, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Many Bahamians, wary of previous investors who have failed to deliver on their promises of Bahamian jobs, economic activity and wealth creation, plus numerous Family Island mega resort projects that have either stalled or collapsed, tying up valuable land and infrastructure for years, were also just as vocal with their online comments on The Tribune’s Facebook page and elsewhere.

Dionne Benjamin-Smith wrote: “No thank you. We’ve had enough of this tired archaic mega resort business model, and it certainly is not suited for the Family Islands. No thank you.

“Whoever is encouraging this, are they blind? Can they not see this is overkill and not self-sustaining on an island that can barely take care of its residents? Energy, water, staffing? Can they not feel the temperature in the room? Can they not see this is not the future?

“Enough of this visionless, antiquated thinking. We need new vision and innovation and wisdom. No more ridiculous election promises that are worth nothing.” Our Governor’s Harbour added: “This is not the right kind of development for Eleuthera.

“Eleuthera’s appealits pristine beaches, clear water, authentic Bahamian culture, natural beauty and a genuine sense of community is the foundation of what makes this place worth calling home and worth visiting. This project is not it.”

Dorlan Curtis Jnr added: “This is truly a life, environment and social-altering experience not for the betterment of Eleuthera. Our Family Islands do not need these mega resort or casino concepts like New Providence or Grand Bahama. Why are we continuously trying to kill the golden goose that lays the egg?” Another said: “Why do so many foreign investors always want to come here and ruin what it was that attracted them in the first place?”

Mr Jacobs’ efforts to lead the “the rebirth of downtown Reno” in Nevada, the US, which he cited as an example of his long-term development approach to projects that benefit local communities, has attracted mixed media coverage in the US. While the promises of billions of dollars in investment have been widely reported, several online articles have questioned the progress made and whether any development is taking place other than the demolition of pre-existing buildings.

Some even argued in late 2025 that the project “remains a mirage in the

high desert”. However, as for Eleuthera, Mr Jacobs told Tribune Business he is interested in partnering with others to deliver “consistent, reliable power” to central Eleuthera.

He added that he was already in talks with Kimley Horn, a US-based utility and engineering company with global reach, on developing “a self-contained power solution” for the island, proposing a private-public partnership (PPP) that can help pull central Eleuthera “up by its bootstraps”.

“A 100-mile long Family Island with two aging generators has historically created a difficult situation for the people of Eleuthera,” Mr Jacobs said. “For example, a ‘project’ could be created and owned by a co-operative of Central Eleuthera commercial properties.

“In the near term the co-operative members would be responsible for their own relationship with the grid, primarily back-up generators. However, for the long-term we also plant the seeds for utility success defined as consistent, reliable, power and water.

“We are currently in discussions with local power/ water managers as well as Kimley Horn regarding a self-contained power solution that will include an underground loop as well as power generated 70-80 percent solar. I envision this co-operative of commercial property owners growing with new members over time, allowing more infrastructure to be put in place annually until we finally reach the point where the self-reliant system can be turned on,” he added.

“When turned on, this system will potentially take all commercial property off the BPL grid, reducing stress on central Eleuthera residents. This is more than a concept. We are prepared to contribute dollars to a Central Eleuthera commercial property co-operative to acquire land for future solar farms. I believe that it could take 30 years to complete this system, and another 30 years to retire the capital needed to build it.

“I anticipate that at some point in time the system would be turned over to BPL, perhaps in 70-80 years. This gives BPL a growing and reliable second utility presence in Central Eleuthera. BPL involvement will be important, particularly because government powers will be needed in certain cases to acquire leases, as well as to acquire certain large parcels of land in Central Eleuthera needed for solar farms.”

NOTICE

NOTICE is hereby given that I, SANDRA PIERRE of Marsh Harbour, Abaco, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration/Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 2nd day of April, A.D., 2026. The Liquidator is Galnom Ltd., CUB Financial Center, Western Road, Nassau, Bahamas.

GALNOM LTD.

‘No casino or large-scale resort elements’ involved

CONSTRUCT - from page B1

is Bahamian-led and involves no casino and gaming facilities or largescale mixed-use resort elements.

“Myles Ahead Ltd is in the early stages of advancing a Bahamian-led development proposal in the Governor’s Harbour area. One that is currently progressing through informal community consultation and the regulatory review process,” the development vehicle said in a statement.

“The project is being designed at an appropriate scale for the surrounding community, with a focus on environmental stewardship, independent infrastructure and long-term economic and cultural integration. It is conceived as a measured hospitality and

residential development, consistent with the unique and unmistakable character of Governor’s Harbour, and does not include gaming or large-scale mixed-use components.”

Myles Ahead said it had also received approval from the Department of Environmental Planning and Protection (DEPP) to carry out dune restoration work at French Leave Beach in a bid to prevent further erosion and stabilise the coastline. It added that public access “has been maintained at multiple entry points” along French Leave Beach amid growing concern from some Eleuthera residents that at least one had been blocked to facilitate this work but with no details made public. Tribune Business was shown a video, taken over the Easter weekend, showing the chain and debris

a benefit of these budget increases remains unclear.”

(International Telecommunications Union) World Telecoms ICT Policy Forum in Nassau; a national cyber security conference and a Bahamian candidate’s campaign for the office of ITU deputy secretary-general.

Cable Bahamas, which was joined by the Aliv mobile operator in pointing out that URCA’s budget has to be financed from the fees paid by licensees such as itself, wrote: “The Group respectfully notes that there are significant observations to be made regarding URCA’s draft annual Budget for the electronic communications sector.

“Of particular concern is the increase in URCA’s overall consolidated operational expenses by 12 percent year-over-year, and a notable 43 percent rise in the electronic communications sector operational budget. URCA has characterised these increases as indicative of ‘prudent financial management’.

“However, this assertion raises questions about the extent to which URCA fully acknowledges the financial constraints and regulatory pressures currently faced by licensees operating in competitive and mature markets, requiring constant investment in material capital expenditure to keep pace with new technologies,” Cable Bahamas and Aliv added.

“There is a concern that URCA may not be sufficiently attuned to these realities or may be proceeding with its budgetary decisions without adequately considering the practical challenges encountered by licensees. Further, the question of what value does licensees and the overall Industry receive as

URCA acknowledged the concerns voiced by Cable Bahamas, Aliv and BTC in its ‘statement of results’ on the annual plan consultation, but added that it “remains committed to value for money, prudent planning and responsible cost management”. It argued that concerns over the conferences needed to be placed in context, as they will aid The Bahamas’ “broader digital policy objectives” while the Government has approved financial support for the ICT Policy Forum.

“URCA notes that parts of the 2026 budget reflect continued investment in institutional capability, regulatory fieldwork and the strengthening of systems necessary for a modern multi-sector regulator,” it said. “At the same time, URCA also notes the areas in which reductions have been achieved, including information technology, office services and certain capital expenditures, reflecting efficiencies, completed infrastructure works or the carrying forward of viable prior-year allocations.

“URCA appreciates the calls for greater clarity on one-off versus recurring expenditures and will continue to improve the way that material budget drivers are explained in its annual planning and reporting documents.”

While conceding that there is value in international contacts and relations, Cable Bahamas and Aliv argued that much of the 43 percent increase revolved around “a huge and significant outlay of funds” for just three events - the two conferences and the ITU deputy secretary-general campaign.

“These three items by themselves have increased

blocking “the central beach access point” being cut and removed purportedly on the orders of local government. A nearby sign asserted: “Dune rebuilding. Keep off dunes. Private property.”

One Eleuthera resident, speaking on condition of anonymity, asserted that access was restored following a public outcry and the circulation of a hand-written petition among Governor’s Harbour residents and businesses. “There needs to be transparency and a timeline,” they argued of the dune restoration. “There was a paper petition going around to re-open the beach access. People were up in arms.

“As a country we need to be very careful about maintaining beach access points because they are being blocked off. There’s a lot where people are

their electronic communications sector budget items ‘conferences, training and travel’ and general administrative expenses, respectively, by over 400 percent for the first two events - namely $526,191 to $2.383m for the ITU forum and from $528,942 to $919,910 for the ITU campaign, the latter an approximately 70 percent increase resulting in an additional $2.248m yearover-year expenditure for the two budget items,” the BISX-listed communications provider said.

“Considering that these are one-time budget items, the amounts allotted appear to be far in excess of what should be allocated and place an additional burden on licensees who have no recourse.”

Cable Bahamas and Aliv both demanded that URCA provide further details to justify these cost increases, and said they “look forward with anticipation to the year” when there will be no cost hikes in the regulator’s budget.

attempting to block them off.”

Myles Ahead Ltd, in response to this newspaper’s inquiries, said: “As part of our commitment to the local community, we have undertaken Department of Environmental Planning and Protection-approved dune restoration work at French Leave Beach so as to stabilise significantly eroded areas and improve long-term coastal resilience.

“The restoration effort, guided by a leading Bahamian environmental engineering firm, is focused exclusively on dune stabilisation, clean-up of unauthorised dumping and environmentally responsible access management. Public access has been maintained at multiple entry points along the beach, including just to the south of the affected area.

Cable Bahamas even went to the extent of producing a chart analysing the increases in URCA’s spending and budgets over the five-year period between 2022 and 2026. It asserted that, for the regulator’s total budget covering the electricity and, now, natural gas, general and administrative expenses have increased by 55 percent over this period, jumping from $860,000 in 2022 to $1.33m this year.

URCA’s staff costs were shown to have increased by 50 percent over the same timeframe, rising from $3.12m in 2022 to a projected $4.69m in 2026, while proposed professional services, premises costs and utilities and field operations budget expenses are between 2.5 times’ to four times’ higher than five years ago.

As for the electronic communications sector budget, Cable Bahamas and Aliv argued that general and administrative expenses have near-doubled, spiking from $470,000 in 2022 to a forecast $92,000 in 2026, and representing a 97 percent jump. Staff costs, meanwhile, were said to have risen by 67 percent - from $1.79m

“Upon completion of the restoration, access to the beach will resume in alignment with DEPP’s guidance, ensuring both environmental protection and continued public use for generations to come. We appreciate the community’s co-operation in allowing the restored areas the time and care needed to fully recover. We look forward to sharing additional details as the regulatory process and community engagement efforts continue.”

Mr Myers, who is wellknown for his role at Bahamas Hot Mix, was also a key investor in the Bahamian investor group named as spearheading the $200m complete overhaul of Grand Bahama International Airport. He and Tony Ferguson, CFAL’s president, were also joined in Aerodrome Ltd by two fellow Bahamians

to $3m - over the same five-year period, while conferences, training and travel costs were now 49 times’ larger, standing at $2.38m as opposed to just $5,000 in 2022 when the world was still emerging from COVID.

Overall, Cable Bahamas and Aliv asserted that URCA’s total operations budget for regulating the electronic communications sector has “more than doubled” in five years, rising by 128 percent from $3.8m in 2022 to $8.6m this year, with the amount of fees paid themselves and other licensees increasing by a similar amount - 111 percent - from $4.2m to $8.9m over the same period.

“Over the past two planning cycles, URCA’s operating budget recovered through fees has increased by over 30 percent cumulatively. Since 2022 the budget has increased by 84 percent. These are mainly driven by staff costs; professional fees; conferences, travelling and travel; and general and administrative expenses,” Cable Bahamas and Aliv argued.

“Notwithstanding these outcomes, regulated entities are being asked to

- Anthony Farrington, an engineer, and Greg Stuart, a businessman.

And he was also president of Ocean Cay Ltd, which took over the lease formerly held by US-based energy giant, AES, on Ocean Cay - the man-made island off Bimini - for an aragonite mining operation prior to the island’s redevelopment into a private cruise destination by Mediterranean Shipping Company (MSC). Internet research by Tribune Business showed that Mr Lyle is a former vice-president at Morgan Stanley, the global investment bank. A managing director at Tiger Management, with responsibility for international equity and emerging market investment, he co-founded Millgate Capital and served as the chief investment officer for 15 years prior to founding his current firm, Fulmar Advisors, an investment management firm based in Lyford Cay.

fund additional staffing; significant increases in international travel and hosted conferences; expanded institutional initiatives whose direct regulatory benefit to licensees are not clearly demonstrated… The group note that the budget is recovered by fees charged only to operating entities generating revenue, and those fees are allocated based on the revenue of only a few regulated entities. There are over 200 regulated entities whose spectrum and other licenses still need to be administratively managed by URCA.” Calling for clarity on the fees charged to 197 regulated communications entities, Cable Bahamas and Aliv warned: “The increased burden of URCA fees that is levied on the group has material impacts to investment decisions that could further benefit the consumers of telecommunication services in The Bahamas. Telecommunication services are a key driver of investment and productivity across the nation, and this needs to be considered in the context of the ever-increasing URCA budget.”

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 1501110 (IBC) (In Voluntary Liquidation) Notice is hereby given that the above-named Company is in dissolution, commencing on the 7th day of April A.D. 2026. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is MR. WAVELL SANTOS JUNIOR, whose address is R PRFA Aldaci Barbosa 14, Cambeba, 60822260, Fortaleza, CE, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 7th day of May A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 7th day of April A.D. 2026. WAVELL SANTOS JUNIOR LIQUIDATOR

Footwear distributor: Supply end has ‘destroyed business’

headed by chief executive John Cates and his family. There is no suggestion they have done anything wrong or are connected to the dispute between Walk Good Bahamas and its supplier.

ITS Group operates outlets such as Aqua Swim Boutique, Hackett London, Lilly Pulitzer, Maison8 Boutique, Tropic of Luxury, Vilebrequin, Vineyard Vines, The Sugar Factory Restaurant, Island Essentials and Baha Mar Boutique at Baha Mar. It also has Thistle Boutique at Atlantis, with Dylans Candy Bar and Lalique to come, and brands itself as a “luxury retail” specialistmeaning it would be quite a customer for Walk Good Bahamas to do regular business with.

However, the supply cut-off did not solely affect its ability to do showcase its footwear products to high-spending Atlantis and Baha Mar guests. “As a direct and foreseeable result of Alpargatas’ wrongful conduct, and in addition to losing smaller retailers and other major hotel groups, Walk Good Bahamas will lose the

opportunity to create a ‘store within a store’ with a major international hotel group, Sandals resorts,”

Mr Smith-Taylor and Walk Good Bahamas alleged. “The store within a store concept required over two years of active planning, and the store is scheduled to open in March 2026. Walk Good Bahamas will be unable to open the store, and will be forced to notify Sandals resorts that the project cannot proceed, because Walk Good Bahamas lacks product…. “As a direct and foreseeable result of Alpargatas’ wrongful conduct, Walk Good Bahamas has lost millions of dollars of profits, lost business, damage to reputation, lost market share, alternative product expenses, dead inventory and other elements of damage.”

Mr Smith-Taylor first started working with Alpargatas products in Jamaica in 2008. “Beginning in 2010, he worked with Alpargatas products in The Bahamas through his then association with Walk Good Bahamas, which served as an authorised Alpargatas distributor in The Bahamas and Turks and Caicos,” the lawsuit alleged.

Vendors allege forced off beach and to close

legal adviser, but are alleging that little has changed in the past year-and-a-half.

mud hoping one will stick.

I hate that we have come to this. The focus is not on building a thriving economy, creating commerce and being able to run a business. We’re having to come every day to deal with these complications,” Mr Coley-Austin added.

“They are going to different agencies and telling them not to assist us in any way possible. They are interfering with us being being compliant. At the end of the day, it’s not working well. It’s a sad state of affairs because I don’t think it’s the policy of the Government.”

Mr Coley-Austin said the Association and its members have met Anthony Bostwick, who was appointed to oversee downtown Nassau’s revival, and Chester Cooper, deputy prime minister and minister of tourism, to address their concerns. He said they were assured the matter was being “looked into”, and to liaise with Mr Bostwick and the Ministry of Tourism’s

The Ministry of Tourism, in a statement last night responding to the Association, said: “Junkanoo Beach is a public space managed under the ministry’s regulatory framework. The Ministry is committed to ensuring that all operations in this area are conducted in accordance with established standards, safety requirements and operational guidelines for the benefit of the public and all stakeholders.

“The Ministry remains engaged through the appropriate channels and encourages continued communication with stakeholders. Our priority is to ensure a fair, transparent and consistent framework that supports responsible operations and preserves the integrity of the area for the wider community.

“The Ministry will continue to uphold these principles in the interest of all Bahamians and visitors, ensuring that tourism spaces operate effectively

US and Iran agree to 2-week ceasefire as Trump seizes diplomatic offramp instead of escalation

By BASSEM MROUE, JON GAMBRELL and SAMY MAGDY Associated Press

U.S. President Donald Trump pulled back on his threats to launch devastating strikes on Iran late Tuesday, swerving to deescalate the war less than two hours before the deadline he set for Tehran to capitulate or else a “whole civilization will die.”

Trump said he was holding off on his threatened attacks on Iranian bridges, power plants and other civilian targets, subject to Tehran agreeing to a two-week ceasefire and reopening of the Strait of Hormuz, the waterway through which a fifth of the world’s oil is shipped during peacetime. He also said Iran has proposed a “workable” 10-point peace plan that could help end the war launched by the U.S. and Israel in February.

Iran’s Supreme National Security Council said it has accepted a two-week ceasefire and that it would negotiate with the United States in Islamabad beginning Friday.

Iranian Foreign Minister Abbas Araghchi said passage through the strait would be allowed for the next two weeks under Iranian military management.

It wasn’t immediately clear whether that meant Iran would loosen its chokehold on the waterway.

“In or about 2012, Smith-Taylor began the process of acquiring ownership of Walk Good Bahamas and undertook extensive efforts - financial, operational and reputational - to rehabilitate the Alpargatas/ Havaianas brand in the Bahamas and Turks and Caicos markets, and make the business profitable. At the time, there was a distributorship agreement with Alpargatas S.A, Alpargatas’ parent company.”

The two sides signed an exclusive distribution agreement around April 1, 2019, which saw Walk Good Bahamas appointed as the Alpargatas vendor in Jamaica, as well as in The Bahamas and Turks and Caicos. “Prior distributors of Alpargaras products in Jamaica had damaged the brand through poor service and execution of their business plans,” the lawsuit alleged.

“Hence, when SmithTaylor took over Walk Good Bahamas he had to rebuild retailer confidence, win back shelf space, build the brand and compete against brands that had benefited from years of mismanagement by prior Alpargatas distributors. Smith-Taylor succeeded in

and in accordance with established governance standards.”

However, the Association in its initial release alleged that “vendors have reportedly been instructed to demolish structures, vacate the beach or cease operations without written notice, due process or clear legal authority.

“In some instances, staff members have been detained while carrying out legitimate work. Additionally, misinformation has allegedly been circulated suggesting that the Association is not recognised despite its proper ratification, creating confusion and instability among vendors,” it added.

“Operational challenges have also intensified due to reported disruptions of essential utilities such as water and electricity, in some cases lasting up to two months. During these periods, vendors were forced to operate under severely compromised conditions, negatively impacting both public health standards and visitor experience.”

Addressing events that allegedly occurred last Thursday, the Association added: “On April 1, 2026, at the start of the Easter

having Walk Good Bahamas build the brand, even though its first full year of operations was during the COVID pandemic. Walk Good Bahamas only was able to survive COVID because it was well-managed.

“By 2025, Walk Good Bahamas had become very profitable in Jamaica, The Bahamas and Turks and Caicos. Walk Good Bahamas had increased market share, built strong retailer confidence in the brand and in Walk Good Bahamas, and had become a dominant brand despite the challenges of the COVID pandemic.”

Although the two sides’ distribution agreement expired at end-March 2023, Mr Smith-Taylor and Walk Good Bahamas said their relationship continued as if nothing had changed.

“Since March 2023, Alpargatas has continued to accept orders from Walk Good Bahamas, approve business and marketing plans, receive confidential sales and pricing data, and hold Walk Good Bahamas out as its exclusive distributor throughout 2023, 2024 and until the present,” they asserted.

period, Ministry of Tourism personnel conducted an aggressive enforcement exercise targeting multiple vendors on Junkanoo Beach. Vendors were instructed to immediately shut down operations and vacate the premises.

“These actions were reportedly carried out despite advisement from an inspector at the Fort Charlotte Police Station that such closures were not authorised. Nonetheless, enforcement proceeded. A hair braiding operator was forcibly shut down, and staff at another establishment, Owen’s Place, were reportedly threatened and intimidated.”

The Association added: “There is a complete absence of dialogue. The question must be asked: Are these authorities here to assist, develop and grow Bahamian businesses, or to harass, catch and remove them? Right now, it feels like the latter. This is unacceptable, and it must stop….

“The consequences of these actions extend beyond business operations and into the lives of individuals and families. In one particularly distressing case, following the passing of a vendor, her spouse

How spending shocks affect retirement planning

“Walk Good Bahamas’ relationship with Alpargatas was good until in or about July 2025. Beginning in or about July 2025, communicating with Alpargatas suddenly became difficult. Moreover, Alpargatas abruptly and suddenly, and without notice, unilaterally cut off the supply of products to Walk Good Bahamas without justification or any contractual basis.

“This was right about the time that Walk Good Bahamas should have received the 2026 catalogue from Alpargatas to distribute to Walk Good Bahamas’ clients and obtain feedback on what styles to order for the upcoming year.” Re-establishing communication, and finding out why supplies were cut-off, proved challenging until November 14, 2025, when Walk Good Bahamas was told 90 percent of its order could not be met because the Brazilian parent had “stopped funding the platform”.

“The abrupt, sudden cessation of shipping product to Walk Good Bahamas by Alpargatas, and its lack of transparency and communication, has destroyed Walk Good Bahamas’ business and all the work over

- who had co-managed the business and served as her primary caregiver - was instructed to immediately vacate the premises without due process. He has since been displaced and now relies on the support of fellow vendors for basic survival.

“Additionally, vendors seeking to renew their Business Licences have reported being required to sign agreements containing extreme and unilateral conditions. These reportedly include provisions allowing external authorities to suspend staff, impose undefined operational rules and revoke business rights without due process,” it continued.

Vendors who refuse to sign such agreements - on the basis that they are excessive and potentially unconstitutional - report being further targeted and labelled as ‘non-compliant’, effectively placing their livelihoods at risk.”

Calling for licensing and regulatory standards to be enforced fairly, the Association added that it has been excluded from discussions on the way forward for Junkanoo Beach.

“Junkanoo Beach stands as a unique example of

the course of many years that went into making Walk Good Bahamas a successful business,” the lawsuit alleged.

“As a direct and foreseeable result of Alpargatas’ wrongful conduct, Walk Good Bahamas was left unable to respond to inquiries by retailers, resulting in lost retailer confidence in Walk Good Bahamas.

“Alpargatas undermined years of work and effort on the part of Walk Good Bahamas to build a strong bond with its retailers, and Walk Good Bahamas lost the goodwill of its retailer clients. Indeed, retailers blamed Walk Good Bahamas for the lack of product supply when the lack of product was due to Alpargatas’ wrongful conduct,” the lawsuit added.

“As a direct and foreseeable result of Alpargatas’ wrongful conduct, Walk Good Bahamas’ reputation as a reliable distributor in Jamaica, The Bahamas and Turks and Caicos was destroyed. As a direct and foreseeable result of Alpargatas’ wrongful conduct, Walk Good Bahamas lost market share and lost shelf space for its Alpargatas products in retail stores and brand presence.”

Bahamian entrepreneurship and resilience. Vendors have collectively borne approximately 98 percent of the costs associated with maintaining the beach, including sanitation, restroom facilities, cleaning, utility repairs and waste management,” it said.

“Since the COVID-19 pandemic, tens of thousands of dollars have been invested by vendors to sustain this vital public space without reliance on consistent government funding. This has never been about recognition. It has always been about pride, responsibility and preserving something meaningful for our country…

“We are one people. If investment and development are encouraged across our islands, then Bahamians must be equally empowered to thrive in the spaces they have built with their own hands.”

The Association called for a “full and impartial investigation” into its complaints, plus a review and “suspension” of any onerous licensing conditions and “the establishment of a clear, fair and transparent operational framework for Junkanoo Beach”.

In a post on his social media site, Trump said that he would suspend attacks on Iran for two weeks provided Tehran agreed “to the COMPLETE, IMMEDIATE, and SAFE OPENING” of the strait.

Even as the ceasefire was announced, missile alerts continued in the United Arab Emirates and Israel early Wednesday, hinting at the chaos surrounding the diplomatic moves.

Since the war began, Trump has repeatedly backed off deadlines just before they expire.

In doing so again Tuesday, Trump said he had come to the decision “based on conversations” with Pakistan Prime Minister Shehbaz Sharif and Gen. Asim Munir, Pakistan’s powerful army chief. Sharif, in a post on X hours earlier, urged Trump to extend his deadline by two weeks to allow diplomacy to advance. He used the same post to ask Iran to open the strait for two weeks.

The president said in his social media post that Iran has presented “a workable basis on which to negotiate.”

“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated,” Trump said.

By CHRISTINE BENZ Associated Press

MARKET performance tends to dominate the conversation about risks to a retirement plan. But spending shocks can also curb a retirement portfolio’s longevity. In Morningstar’s research, we examined the implications of two major types of spending shocks: unanticipated early retirement and uninsured long-term care expenses at the end of life. The former may necessitate spending over a longer period, often with higher healthcare costs in the pre-Medicare years, while the latter can translate into an effective “balloon payment” toward the end of life.

Early retirement

Early retirement — before the standard age of 65 — is an increasingly common scenario. While Social Security’s full retirement age is currently between 66 and 67, the average retirement age is 62, according to a study from MassMutual. That’s corroborated by Social Security filing data, which show that roughly 25% of retirees take Social Security when it’s first available at age 62, and 15% file at 63 or 64.

Nearly half of the retirees surveyed by MassMutual said they had retired earlier than planned; commonly cited reasons included

layoffs, being able to retire sooner than expected, or illness or injury.

Early retirement has significant implications for retirement spending, with longer drawdown periods necessitating lower spending to maintain a high likelihood of not running out later on. In our basecase spending simulation, expanding the drawdown period from 30 to 35 years reduces the starting safe withdrawal rate from 3.9% to 3.5%. Stretching the time spending horizon to 40 years takes the starting safe withdrawal rate to 3.2%.

Keeping withdrawals low in early retirement may be challenging on a few levels, however. First, individuals aren’t eligible for Medicare coverage until age 65, so bridging healthcare coverage in the intervening years has the potential to increase spending. Insurance coverage for 62- to 65-year-olds from the ACA marketplace averaged between $800 and $1,200 a month in 2025, according to data from Boldin. Meanwhile, Cobra coverage (extending workplace-provided coverage) for people 62 to 65 averaged $700 to $1,500 a month. For a62-year-old taking a safe withdrawal rate of 3.5% ($35,000) from her $1 million portfolio, healthcare costs would consume roughly a third of those withdrawals.

Further complicating matters for young retirees is that many individuals wish to delay Social Security to increase their eventual benefits. At the same time, delaying Social Security can necessitate higher withdrawals in the early part of retirement, thereby imperiling the portfolio’s ability to last over the longer time horizon.

Long-term care spending

Just as early retirement can cause a spending shock at the front end of retirement, long-term care costs can prompt a spending shock later in life. A 2025 report authored by Spencer Look and Jack VanDerhei of the Morningstar Center for Retirement & Policy Studies found that 43% of baby boomers will incur long-term care costs, with the average cost of that care $242,373. The likelihood of needing care correlates with longevity: While just 24% of men and 27% of women who die at age 75

will require long-term care, 52% of men and 60% of women who die at age 95 will require long-term care. Incurring sizable longterm care costs can have catastrophic effects for a financial plan: The Morningstar study found that when long-term care costs are included in the analysis of the viability of retirement assets, 41% of older-adult households that incur longterm care costs are likely to run out of funds. Older adults can take different approaches to address this risk. They might set aside a separate long-term care “bucket,” separate from their spending portfolios. Others may plan to use home equity. Alternatively, those with very tight finances might create a spending plan to cover their costs during their healthy years, then rely on government resources if they require long-term care after that.

US stocks swing from losses to a tiny gain as uncertainty builds ahead of Trump’s deadline for Iran

By STAN CHOE AP Business Writer

U.S. stocks swung sharply Tuesday as uncertainty about the war with Iran increased ahead of a looming deadline set by President Donald Trump to destroy Iranian power plants and bridges.

The S&P 500 fell as much as 1.2% after Trump threatened that a “whole civilization will die tonight, never to be brought back again” if Iran does not meet his deadline at 8 p.m. Eastern time to open the Strait of Hormuz. But stocks rallied at the end of trading after Pakistan’s prime minister urged Trump to extend his deadline for another two weeks and asked Iran to open up the strait for two weeks.

The S&P 500 erased all its losses and ended with a modest gain of 0.1%.

The Dow Jones Industrial Average dipped 85 points, or 0.2%, and the Nasdaq composite added 0.1%.

They’re the latest swings to hit financial markets since late February because of deep uncertainty about when the fighting may end. During just the first hour of Tuesday’s trading, the Dow careened between a gain of 74 points and a loss of 425.

Oil prices were likewise shaky. The price for a barrel of benchmark U.S. crude to be delivered in May briefly climbed above $117 before settling at $112.95, up 0.5%.

The price for a barrel of Brent crude, the international standard, eased by 0.5% to $109.27. It’s still well above its roughly $70 level from before the war began in late February.

Oil prices have spiked because the war has snarled the production and transportation of crude in the Persian Gulf. Much of that oil exits the gulf through the Strait of Hormuz to reach customers around the world,

but Iran has blocked it to enemies.

The worry in markets has been that a long-term disruption will keep oil prices high for a long time and send a painful wave of inflation crashing through the global economy.

So far in the war, Trump has made a series of threats to blow up Iranian power plants if it doesn’t open the Strait of Hormuz, only to delay it several times. The possibility remains that Trump could hold off on his threats again, among other scenarios.

A year ago, Trump ultimately backed off many of the stiff tariffs that he initially threatened to put on imports from other countries, though they ended up higher than from before his second term.

“Investors are likely to remain on edge and markets unable to establish trends, probably until there is a clear outcome later this evening: a deal, the U.S./ Israeli strikes intensify, or Iran’s retaliation becomes escalatory instead of proportional,” according to Paul Christopher, head of global investment strategy

at Wells Fargo Investment Institute.

On Wall Street, companies with big fuel bills fell sharply as high oil prices cranked up the pressure.

Norwegian Cruise Line Holdings dropped 3.3%, and United Airlines sank 1.8%.

Companies whose customers may have the least room to absorb the recent jump in gasoline prices also struggled. Dollar Tree slid 4.2%, and Dollar General fell 2.6%.

The average price for a gallon of regular gasoline across the United States has leaped to $4.14, according to AAA. It was below $3 a couple days before the United States and Israel launched attacks to begin the war in late February. Stocks of health insurers helped support the market after the Centers for Medicare & Medicaid Services said Medicare Advantage payments will likely see a net average increase of 2.48% in 2027. That was well ahead of what some investors expected, according to UBS analysts led by AJ Rice.

Inside a huge compound on Thailand-Cambodia border where 10,000 workers

scammed people globally

By HUIZHONG WU Associated Press

UnitedHealth Group jumped 9.4%, and Humana rose 7.9%.

Broadcom was another force pushing strongly upward on the market. It rose 6.2% after announcing deals with Google and Anthropic.

All told, the S&P 500 rose 5.02 points to 6,616.85. The Dow Jones Industrial Average dipped 85.42 points to 46,584.46, and the Nasdaq composite added 21.51 to 22,017.85.

In stock markets abroad, Universal Music Group jumped 11.4% in Amsterdam after Bill Ackman’s Pershing Square Capital Management offered to buy the record label behind Taylor Swift and Bad Bunny in a cashand-stock deal valued at approximately $64 billion.

Pershing Square argued the proposed deal would clear uncertainty that’s weighed on UMG’s stock, but its share price remained below what Pershing said its bid is worth. That could indicate investor doubt that the deal will happen.

In stock markets abroad, indexes fell across much

Sarkozy says he owes France ‘the truth’ as he challenges conviction over alleged Libya funding

By SYLVIE CORBET Associated Press

FRENCH former President Nicolas Sarkozy maintained his innocence at an appeal hearing in Paris on Tuesday over his conspiracy conviction last year, saying that not a single cent from Libya helped fund his 2007 presidential campaign.

“I owe the truth to the French people,” Sarkozy told a three-judge panel during a hearing in the case that led him to spend 20 days in prison before being granted release pending appeal. “I’m innocent,” he said. Sarkozy, 71, is challenging his conviction after being found guilty in

September of criminal conspiracy. He was sentenced to five years in prison for his alleged part in a scheme to obtain funds from the government of then Libyan leader Moammar Gadhafi in exchange for political and diplomatic favors. Sarkozy has repeatedly denied wrongdoing and says the allegations are politically motivated. Sarkozy’s wife, supermodel-turned-singer Carla Bruni-Sarkozy, attended Tuesday’s hearing, which focused on his role as a conservative presidential candidate and then president from 2007 to 2012. The 12-week appeal trial, which began last month,

will reexamine all of the evidence and testimony related to him and nine co-defendants — including three former ministers.

Sarkozy said that he championed Western military intervention in Libya in 2011 after Gadhafi’s government violently cracked down on anti-government protesters, when Arab Spring pro-democracy protests swept through the region.

“I took the initiative, France took the initiative. Why? Because Gadhafi had no hold over me — financially, politically or personally,” Sarkozy said. Gadhafi was killed by opposition fighters in

October 2011, ending his four-decade rule of the North African country.

Families of plane bombing victims raise concerns Sarkozy’s appeal hearing comes after families of French victims of a 1989 plane bombing expressed their distress last week over possible promises made to Gadhafi’s government as part of the alleged deal.

In 2003, Libya took responsibility for both the 1988 plane bombing over Lockerbie, Scotland, and the bombing of UTA flight 772 over Niger the following year that killed 170 people, including 54 French nationals.

“I believe that such unspeakable suffering can only be answered with the truth,” Sarkozy said. Financial prosecutors have accused Sarkozy

I HAVE often used the word industrial-scale in my own writing to describe the scam compounds that dot this region in Southeast Asia.

But the weight of that phrase truly sunk in at the O’Smach Resort complex that we visited on Tuesday.

Thailand’s military, which conducted a tour for the media, said that the whole area encompasses around 197 acres (80 hectares), equivalent to 150 American football fields.

It wasn’t my first time at a scam center, but its scale dwarfed anything I had seen before.

From my base in the region, I have followed this issue for the past few years, watching its scale only grow larger and larger.

Scam compounds have mushroomed across Southeast Asia since the pandemic. Inside these industrial-scale complexes, workers attempt to lure unsuspecting targets from countries all across the world in sophisticated online-based scams. The

The military also took us to the premises where workers likely scammed Americans. FBI data released on Tuesday shows that Americans lost near $21 billion to scams in 2025 alone.

On the desks inside a four-story office building were still snacks from the previous users, as well as scripts and notes in Chinese on each aspect of the scam. American SIM cards were scattered about as well. There was an elaborate backstory to target the Americans. One of the scripts on the desk was 24 pages of an in-depth character sketch of a woman named Mila who had earned a lot of money on the gold options trading market.

But the script went further. Mila had lost her husband to leukemia when their daughter was just a baby. It constructed memories of her childhood, such as her getting bullied by other girls, and then her parents sending her to South Africa to live with her uncle in order to be in a healthier environment.

“Every country of the world has to join together to solve this problem, (we) cannot do it alone with Cambodia and Thailand.” Air Chief Marshal Prapas Sornchaidee

latest estimates from the U.N. office on Human Rights are that around 300,000 workers are caught up in the industry regionally.

Thailand’s military invited journalists back to the huge scam complex it seized in December during its border conflict with Cambodia. The military said it took the area in response to the Cambodian side using it as a base of operations for launching attacks.

The complex was called the O’Smach Resort, owned by Cambodian politician Ly Yong Phat, who faces U.S. sanctions for rights abuses in the very same complex. It’s unclear, however, whether the new construction also belongs to Ly.

Throughout the massive grounds of the self-contained town, there were signs of construction. Piles of bricks and construction cranes sat waiting for workers to finish the job.

of having promised to lift the arrest warrant targeting Gadhafi’s brother-in-law and intelligence chief Abdullah al-Senoussi, accused of masterminding the attacks, in exchange for alleged campaign financing.

“The truth is that I did not act in favor of Mr. Senoussi … who is in prison (in Libya) because he was arrested following the international action led by France,” Sarkozy said. “I never promised him anything.” Visibly irritated, Sarkozy, who as interior minister met with Gadhafi in 2005 in Libya, told the court:

“Why would I have chosen Mr. Gadhafi, whom I had never met before, to set up a suspicious financing arrangement with him during a 30-minute

There are 157 buildings, 29 of which housed the scam companies and their offices. The rest included massive dorm complexes, and more luxurious accommodations that included apartments and three-story villas. The military officials said they estimated that at least 10,000 people were living there.

There was also a variety of Chinese restaurants, catering to people who wanted spicy Hunan cuisine, or southern Shaxian cuisine, or hot and sour rice noodles, a Sichuanese classic.

While Thailand and Cambodia have vowed to tackle the scamming problem, its scale is far more global.

“Every country of the world has to join together to solve this problem, (we) cannot do it alone with Cambodia and Thailand,” said Air Chief Marshal Prapas Sornchaidee, who was one of the officials leading the tour.

meeting? It makes no sense,” Sarkozy said.

In 2005, people close to Sarkozy, including his chief of staff, Claude Guéant, and junior minister Brice Hortefeux, traveled to Tripoli, where they met with al-Senoussi.

The trial at Paris appeals court is scheduled to last until June 3, with a verdict expected at a later date.

“Defendants have so far been unable to explain all the inconsistencies that may exist in this case,” Vincent Brengarth, lawyer for French anti-corruption group Sherpa, told reporters.

“Up to now, the various hearings have not resulted in these explanations, and we are now expecting them from the

he said.