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MONDAY, MAY 11, 2020

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Judge hits ‘double dipping’ attorneys By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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SUPREME Court judge has blasted the practice of attorneys representing both parties in the same real estate transaction after finding one guilty of “professional negligence”. Justice Indra Charles said Bahamian attorneys continued to expose themselves to potential conflicts of interest despite judicial disapproval after she determined that Donna Dorsett-Major failed to properly advise foreign second home buyers about the risks and consequences of the $150,000 deal they were agreeing. The judge hit out after finding in favour of Alan and Sharon Crawford, a Texas couple, in their dispute with former Cat Island administrator turned real estate developer, Christopher Stubbs, who sold them

Cruise port chief in ‘guarantee’ on bond’s success By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net NASSAU Cruise Port’s ultimate parent has pledged to “guarantee” the success of its $130m bond issue by covering any capital shortfall that may exist when the offering closes at the end of this week. Mehmet Kutman, Global Ports Holding’s chairman, told Tribune Business via an Internet conference call that he will “chip in the difference” should investor demand be insufficient to

• Slams practice of acting for both parties in deal • And blasts former Cat Island administrator • Restaurant, septic tank removed by end-July

JUSTICE INDRA CHARLES a waterfront lot in his Shanna’s Cove development in 2010. Relations between the two sides soured after the deal was completed and the couple built their residence. Justice Charles ordered that Mr Stubbs and his Shanna’s Cove Estate Company remove both the raise the full amount. Promising that he would not allow Prince George Wharf’s planned $250m redevelopment to be interrupted or delayed by financing needs, Mr Kutman said he was still “fairly comfortable” that the bond will be oversubscribed after 50 percent was raised during the first week. He spoke out after Anthony Ferguson, principal of CFAL, which is acting as the bond’s lead placement agent, revealed that some investment houses/broker-dealers, which typically direct where client monies are placed, had reacted coolly to the bond offering given the multiple uncertainties impacting the global cruise industry amid the COVID-19 pandemic.

SEE PAGE 7

Super Value in struggle to fill 100 vacancies By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SUPER Value’s principal is questioning if “people want to work” as the supermarket chain struggles to fill up to 100 vacant posts amid an unemployment rate predicted by the Prime Minister to hit 30 percent. Rupert Roberts, pictured, told Tribune Business that the company was one of the few recruiting during the COVID-19 pandemic lockdown with 30 cashiers, stockmen,

trainee managers, department heads, frozen food and fresh produce workers among the vacancies it is trying to fill. “I would think that in this country today there must be

SEE PAGE 4

incomplete restaurant being constructed across the access road to the Crawfords’ property, and the septic tank on the beach in front of their house, by July 31, 2020. Her May 1, 2020, judgment also revealed that Mr Stubbs had proceeded with the restaurant’s construction in violation of the Town Planning Act because the building permit had expired, while he also ignored a “cease and desist notice” from the Cat Island District Town Planning Board over zoning infractions. Justice Charles suggested that power seemed to have “gone to Mr Stubbs’ head” from his days as Cat Island administrator, and that he believed he could do as he pleased at Shanna’s Cove.

She also accepted Mr Crawford’s evidence that Mr Stubbs had said “no judge in The Bahamas can tell him what he can or cannot do with his land”. The ruling gives an insight into the animosity that can erupt over Family Island land disputes far out of sight from Nassau. It is also an example of the kind of situations that The Bahamas needs to avoid as it battles for every cent of foreign investment and currency it can lay its hands on in a post-COVID-19 environment with its tourism industry shutdown. At trial, Mrs DorsettMajor “vehemently” denied that she ever represented the Crawfords in the

SEE PAGE 5

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Sebas blasts PM on gaming closure By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ISLAND Luck’s principal last night accused the prime minister of “targeting” the domestic gaming industry and its 3,500 employees after he ordered the sector to close once more. Sebas Bastian, in a messaged response to Tribune Business inquiries, questioned why the industry had been “singled out” and “assailed by this government yet again” after it was the only one barred from offering delivery and curb side pick-up services and ordered to shut its doors in the latest Emergency Powers (COVID-19) Order. Arguing that there was “no logic or rationale” to support the government’s decision, Mr Bastian said the move was clearly not based on any healthrelated concerns given that other “so-called ‘vices’” such as liquor stores had been allowed to re-open to consumers. Urging the government to publicly disclose the reasons for permitting certain industries and companies to re-open, while requiring

SEBAS BASTIAN others to remain closed, the Island Luck chief said ordering domestic gaming to close just one week after it re-opened threatened to worsen the very 30 percent unemployment rate that the prime minister himself voiced concerns about yesterday. The prime minister, in his national address, said the permission granted for businesses to provide delivery and curb-side pick-up services were “designed to relate strictly to retail business establishments which can operate efficiently without the need for direct person-to-person physical contact or face to face interactions”.

SEE PAGE 8

PAGE 2, Monday, May 11, 2020

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HE Bahamas must show it “will not be dictated to” by the European Commission’s “economic terrorism” over its tax structure, a local financial services provider has blasted. Paul Moss, principal of Dominion Management Services, told Tribune Business that The Bahamas is not obligated to act as a “tax collector” for the commission and 27 member states of the European Union (EU) to which it is responsible. Arguing that The Bahamas is “at liberty as a sovereign nation” to determine its own forms and methods of taxation, Mr Moss said that while he believed introducing corporate income tax represents the way forward for this nation it should not be forced into taking this route by the EU to meet that bloc’s objectives. The Dominion Management Services chief hit out after Carl Bethel QC, the attorney general, last week revealed that a senior member of the European Parliament had informed Maria O’Brien, The Bahamas’ ambassador to the EU, that Europe “has its foot on The Bahamas’ neck and will not take it off until corporate income tax is implemented”. Mr Bethel told Tribune Business that the European Commission, the EU’s civil service, is using the antifinancial crime initiative of the Financial Action Task Force (FATF) - the global standard-setter in the fight against money laundering and terrorism financing - to mask its true intention towards this nation and other Caribbean states, which is to force them to go further than recognised world standards. The Bahamas is currently in the process of “exiting” the FATF’s enhanced scrutiny of states considered to have deficiencies in their anti-money laundering and terror financing regimes, with the latter’s team having been due to make a “site visit” to the country by this month to ensure all

THE TRIBUNE

‘Don’t let EU dictate ou our taxation policy’ BY NEIL HARTNELL | TRIBUNE BUSINESS EDITOR NHARTNELL@TRIBUNEMEDIA.NET

• Provider labels bloc’s stance ‘economic terrorism’ • Europe delays blacklist implementation to October • Only introduce corporate tax for Bahamas benefit

CARL BETHEL QC regulatory and legislative reforms had been properly implemented. The government had been anticipating that the visit would give The Bahamas a clean bill of health, thereby paving the way for the FATF to delist this nation at its next meeting in June. The COVID-19 pandemic, though, has forced the site visit to be postponed to an undetermined date. This has triggered a chain reaction, dashing The Bahamas’ hopes of being removed from the

PAUL MOSS FATF monitoring list at the hoped-for date, while also sparking this nation’s inclusion on the EU’s blacklist.

The European Commission, explaining its rationale for placing The Bahamas on its “high risk” listing, confirmed in its official statement on Thursday that the COVID-19 enforced delay to the FATF’s “site visit” meant it “cannot confirm” whether the country has resolved the deficiencies in its antifinancial crime regime. This was affirmed by the Bahamian embassy in Brussels, which said the “solution” to escaping the commission’s blacklist is totally dependent on the country exiting the separate FATF process. It added that the Commission, recognising COVID-19’s impact on The Bahamas’ “exit” from the FATF listing, was “delaying the implementation” of its blacklist until 2020 as a concession to affected countries. Ms O’Brien met twice last week with John Berrigan, the EU Commission director-general in charge of financial stability, financial services and capital markets, on May 6 and May 8 after it was revealed that The Bahamas would be included on the blacklist. In response to The Bahamas’ concerns about the lack of consultation and notification prior to the Commission’s actions, Mr Berrigan responded that the issue had been raised between the two sides “in the margins” of the last FATF meeting in February 2020. “The EU advised The Bahamas that if the country remained on the FATF ‘grey list’, it was almost 100 percent certain that The Bahamas would be on the EU ‘blacklist’ as well,” the Bahamian embassy noted of Mr Berrigan’s response. “Therefore, The Bahamas should not have been too surprised that the country is on the EU Commission’s list as the EU made it clear that the FATF list would be the baseline. Once removed from the FATF, The Bahamas will be removed from the EU list unless they can identify a particular EU problem, which is not very likely.” Mr Bethel, though, last

week voiced concerns to Tribune Business that the EU may make additional demands of The Bahamas beyond merely escaping the FATF listing. This prompted a furious reaction from Dominion Management’s Mr Moss, who said The Bahamas had no choice but to “stand up and fight” - with the Prime Minister leading the way over any pressure to reduce a corporate income tax. “This calls for a clear and demonstrative statement by the chief executive of this country [Dr Hubert Minnis] to the EU,” Mr Moss told Tribune Business. “He has to state to them that, on the issue of taxation, that is left to the sovereign will of any nation, and The Bahamas will not be dictated to with regard to this issue. “It’s not for them to say to us that this is what we ought to do. We are sovereign. We have a parliament. Even though I’m of the view, and there’s no question in my mind, that we ought to go to a corporate income tax, we ought to be told or forced to do so.” The push for a Bahamian corporate income tax reflects similar demands from individual EU states such as the Netherlands, which last year demanded that The Bahamas implement a corporate income tax at nine percent or higher as the price to escape its national tax noncooperation “blacklist”. However, Mr Moss and others in the Bahamian financial services industry have argued that a lowrate corporate income tax may be the way to go, as it would remove the socalled “tax haven” stigma and enable this country to enter into double taxation agreements with other nations. Reaffirming this belief, Mr Moss nevertheless said The Bahamas should adopt such a tax for its own benefits and not be forced into it by the EU or others. “This where the torch has to be,” he added. “This is the way forward. There’s no escaping, no way around it. I’ve been saying for a long time

it makes no sense putting it off and kicking the can down the road. “Whether this Parliament has the impetus to do it is another question, but this is where we have to go in the next five years. We will be there. We have to take time to carefully craft a strategy that we comprehend to be in the best interests of this country. A three to five percent corporate income tax rate ought to be where we have to go.” Reiterating that it was “unacceptable” for the EU to dictate to The Bahamas what its tax structure and system should be, Mr Moss said the commission’s action showed that the 27-nation bloc will “continue to come after us” regardless of whatever laws were passed or reformed to address its concerns. “All we’ve done for the last 20 years is pass laws to suit their purpose all to the detriment of the financial services industry,” he added, suggesting that while this government and its predecessors talked tough before the Bahamian people they always ended up giving in to the demands of the EU and others. “They just capitulate every single time. We have to stand up and fight, and need leaders to stand up and fight, saying they’re not going to accept it. International law prohibits you from forcing us, and telling us, how to tax. It’s essentially an act of terrorism to say they want us to change taxation, and put their feet on our neck.” Mr Moss reiterated that the “only way” to counter the likes of the EU was for The Bahamas to band together with international financial centres (IFCs) subject to similar attacks to ensure individual nations were not isolated and picked off one by one. Besides crafting a common defence strategy, he also called on The Bahamas to reach out to the US and “use them as our protectors” against the Europeans.

THE TRIBUNE

DIGITAL PROVIDER HANDLES 20% OF NIB PAYMENTS By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A DIGITAL payments provider says it is now handling 20 percent of COVID-19 benefits payouts on behalf of the National Insurance Board (NIB). Sean Smith, SunCash’s business development manager, told Tribune Business that the reduced lines at NIB’s Blue Hill Road headquarters were the result of its locations reducing pressure on the social security system. As a result, the queues have partially shifted to the provider’s East Street and Wulff Road outlet and other sites. NIB has teamed with Sun Cash to help distribute unemployment benefits, and Mr Smith explained: “Instead of them towing the line to NIB to get their cheque, and then towing another line at the bank, NIB came to SunCash to deliver these cheques to these persons digitally. “What we’re able to do is deliver them digital vouchers or digital cheques, and they can take that voucher and redeem that cheque on their SunCash app, which is right on their phone. If they want they can go to Super Value and buy groceries, and get money back. Or they can go to the gas station and get gasoline, or they can go to Bamboo Shack and a whole host of other companies within our network. “Right from the phone they can top-up BTC, top-up Aliv, pay BPL (Bahamas Power and

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Light), Water and Sewerage, Grand Bahama Power, Cable Bahamas and a host of other companies. They can also do international transfers right from there. We are Western Union representatives, so they can do international transfers.” Mr Smith added that Sun Cash’s partnership with NIB ties directly to Project Sand Dollar, the digital Bahamian dollar that was launched by the Central Bank of The Bahamas. Sun Cash’s launch of digital payment kiosks coincided with Sand Dollar’s Abaco arrival in March, as it sought to give Hurricane Dorian victims access to financial services. “This is tied into the Sand Dollar, so NIB would be able to pay with Sand Dollar,” he explained. “We have been deploying our kiosks, and there are about 12 of them now.” Mr Smith said these kiosks are in the Rubis gas stations on Wulff Road, Sir Milo Butler Highway, and at the Fox Hill Road/Prince Charles Drive junction. Other sites include the KZ pharmacies on Prince Charles Drive and Market Street, plus the Solomon’s locations at Yamacraw,

the SuperCentre by Cable Bahamas, and the two Fresh Market stores at Harbour Bay and Old Fort Bay. “It is an orange kiosk. It is right between most of the ATMs (automated teller machines), and essentially you can do all of the things there. It will say it is Sand Dollar ready, so persons can use those,” Mr Smith said. “With the technology we are rolling out, if you were to look at all of our features, you are able to go through our app, you are able to go online, you can see that we have these kiosks. “You would see that we have these physical stores and then we have devices that would be able to accept debit and credit cards, and we have kiosks that will deliver cards. You will be able to go to a kiosk and get a card. “We have 75,000 cards we will be dispersing out there, so the same way you have a credit or debit card you will have a Sun Cash card. Your Sun Cash card will allow you to interact with people that are unbanked, and this card will help you because you can pay it just like you pay your debit or credit card to your bank account.”

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Monday, May 11, 2020, PAGE 3

Hotels looking to extend lay-offs By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamian resort industry is awaiting the government’s formal response to concerns that hotels will be forced to pay full termination pay to staff when the mandatory 90-day period expires. Michael Reckley, executive vice president of the Bahamas Hotel and Restaurant Employers’ Association’s executive vice-president, confirmed to Tribune Business that the sector is seeking an extension to the 12-13 week period mandated by Employment Act reforms passed by the former Christie administration.

Once the 90-day threshold is passed, and National Insurance Board (NIB) payments come to an end, the Act requires employers to pay full severance pay to employees who have been temporarily laid-off or sent home for that period. “We have brought to the government’s attention the lay-off question that you have raised,” Mr Reckey said. “It is the intention of our member hotels to give our employees a further extension of their lay-off, but we are awaiting the response to our request from the Government of The Bahamas.” He added that the Bahamian hotel sector, and wider tourism industry, will only move towards re-opening once a “reasonable” number of visitors are guaranteed to return to The Bahamas following the global COVID-19 shutdown - a development likely to still be some months away. Most observers are predicting that the resort industry will not rebound before

Thanksgiving/Christmas 2020 at the earliest, and maybe not until 2021. “It is our view that during this pandemic period we can only work towards the opening of our hotels when a reasonable number of visitors seek to travel to our member properties,” Mr Reckley affirmed. Tribune Business reported last week that 2,5600 employees are threatened with full termination unless the government extends the temporary lay-off period beyond 12-13 weeks. That timeframe will be reached in early to mid-June. Peter Goudie, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) director responsible for labour relations, also confirmed it has asked the government to extend the timeframe to at least 26 weeks as was done for Abaco and Grand Bahama residents last year after Hurricane Dorian.

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PAGE 4, Monday, May 11, 2020

THE TRIBUNE

Long Island: Keep ports To advertise in The Tribune, closed when we reopen contact 502-2394

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net LONG Island’s Chamber of Commerce president is hopeful it will be included in the next wave of COVID-19 re-openings but is calling for both air and sea ports to remain closed to domestic and international travel. Cheryl de Goicoechea told Tribune Business: “It would be nice to get back to some normalcy. It would be great that everybody would be able to get out and move around like they normally do. They can go fishing and they can go farming, and they can go to other jobs that are not

considered essential. “As long as they keep the borders closed in and out of Long Island, I think we would be OK. But let us move around and I think things will be good. Hopefully we won’t have any people sneaking on to the island some how or some way with all of these empty beaches and empty coves. But everyone knows everyone on this island, so if they see any strange faces they are going to start taking notice. “It is always a concern of everybody on the island that people would come in on small boats from some of the other islands. Hopefully no one is coming in on the two mail boats that

come every week, because I don’t believe they are authorised to bring passengers at this time,” Ms de Goicochea continued. “We only could do what we can do, and we still have to stay on guard, so wear your masks and do your social distancing. Do all of the hand sanitising and the proper protocols. Keep them in place and we will be OK.” Ms de Goicochea said of last week’s re-openings for Ragged Island, Rum Cay, Mayaguana, Inagua, Crooked Island, Acklins and Long Cay: “Those places are small, and they have a smaller population, so it doesn’t mean anything.”

Banks: We’re here to aid troubled borrowers By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

BAHAMAS-based commercial banks are continuing to urge clients impacted by the COVID-19 pandemic to take advantage of the financial relief initiatives they are offering. Lasonya Missick, Royal Bank of Canada’s (RBC) managing director, and chairman of the Clearing Banks Association, told Tribune Business: “The economic impacts

of COVID-19 are both immense and immediate. That is why RBC Royal Bank enabled clients to free-up their cash flow in the short-term to deal with any financial pressures they may be experiencing as a result of the ongoing pandemic. “In The Bahamas, RBC automatically issued payment deferrals on credit facilities to all personal banking clients in good credit standing, and who were not under other relief programmes with us. However, not all clients are impacted in the same way and some have chosen, or may choose, to opt out of the automatic deferral programme and make their usual payments. We strongly encourage this for clients that do not need the temporary cash flow relief.” Marie Rodland-Allen, CIBC FirstCaribbean International Bank (Bahamas) managing director, added: “During these challenging times, CIBC FirstCaribbean is committed to offering eligible

clients flexible financial solutions, including up to six-month payment moratoriums on existing loans and mortgages, and temporary revolving or working capital financing options for our corporate banking and business banking clients. “Our financial relief exercise has been going smoothly since the announcement of the offer back in March. As you may be aware, our deferral offer is not a blanket offer. We are offering this special assistance on a case-bycase basis for those clients adversely impacted by the COVID-19 pandemic. “We’ve received quite a few applications to-date, and our retail, wealth management and corporate teams are working through them and contacting clients to ensure they understand exactly how the moratoria work I urge CIBC FirstCaribbean clients who may be experiencing challenges to reach out to the bank to see what assistance could be offered to them.”

Super Value in struggle to fill 100 vacancies FROM PAGE ONE 3,000 to 5,000 cashiers out of a job, and we can’t even find 30 of them to carry on business,” he said. “We like to carry 30 extra, two per store. I’m wondering if people don’t want to work, if they want to be supported by the government. “I don’t understand. I think if I was out of work I’d grab on to a job. There’s a lot of positions we have vacant, easily 60 and maybe 100, and 30 of them are cashiers. We’re managing five trainee managers, but we need five more trainee managers. This is a crisis time. People are not hiring, but we’re short of people. The reason we’re short is people are quitting at this time of crisis, and if they get unruly they get fired.” With the Department of Labour and its employment exchange closed, although it is due to start opening back up today, Mr Roberts said he has given “an ultimatum” to Super Value’s human resources department “to go out there and find the staff”. Job openings are currently limited to non-existent. Dr Hubert Minnis, in his national address yesterday, predicted that The Bahamas’ national unemployment rate will hit “an extraordinary and unprecedented 30 percent” with the National Insurance Board (NIB) having received 25,000 benefit claims. The government’s revenues for April are 50 percent down year-over-year. Mr Roberts, meanwhile, said Super Value had been unsuccessfully hunting for new recruits for the past five years but had experienced no better luck amid the COVID19 pandemic fall-out that, in theory, has made thousands of potential workers available. “I thought that now with all the lay-offs and closures and shutdowns we’d be able to do it,” he added. “I know people want to go back to their old

job, but their old job might not come back for three months or longer. If they are cashiers they could come in and work. “Before the crisis there were people around but they didn’t qualify, were ineligible and so on. Others thought they should be given three chances if caught stealing. Theft is our biggest problem. After Hurricane Dorian our stock shortages doubled and we’re watching it now. I think people are going to use this pandemic for the same thing. They think: ‘It’s our time to steal and we can get away with it’.” Mr Roberts said Super Value had already caught a “ring” of cashiers who were “breaking the rules” by “pushing and sweethearting”, serving each other. He added: “They take advantage of the crisis to make deals. When the Ministry of Labour gets back to work they need to help us. I’m sure we’re not the only ones. We maybe the only ones now.” The Super Value chief added that the cashier shortage meant the supermarket chain was unable to open as many registers as it would like, slowing down service and negatively impacting the customer experience. “It’s a serious problem, and I hope by bringing it to the public’s attention we get the staff we need,” he said. “We’re inviting all former employees in good standing to please reply, and any others in similar industries that have been closed to them to come in. I would think this would be the time people will really be looking. I can’t see them sitting back hoping someone’s going to feed them and support them until their regular job comes back because their regular job may not ever materialise.” Mr Roberts said applicants will be screened on the phone to ensure the necessary COVID-19 protocols are maintained.

THE TRIBUNE

Monday, May 11, 2020, PAGE 5

Judge hits ‘double dipping’ attorneys

FROM PAGE ONE original transaction, acting only for Mr Stubbs. Alleging that the couple did not secure an attorney of their own despite her advice to do so, she claimed that the legal fees she invoiced were paid by the Texas couple on behalf of Mr Stubbs and his company under the terms of the 2010 transaction. “She insisted that she did a ‘favour’ for the Crawfords for which they have been relentlessly ungrateful,” Justice Charles said of Mrs Dorsett-Major’s response, noting that her attorney claimed she “went to great lengths to protect the Crawfords and ensure the integrity of the transaction”. Yet despite the absence of a written retainer, the judge found that Mrs Dorsett-Major clearly also represented the Crawfords based on the fact she obtained a title report and “assured” them they had good title to the land. She also prepared affidavits of citizenship for them and sent the conveyancing for recording at the Registry - all actions attorneys representing real estate purchasers normally take. The Crawfords’ trial attorney, the late Roy Sweeting, argued that Mrs Dorsett-Major had allowed the parties to sign a conveyance that was not confirmed by a licensed land surveyor, and did not correspond to the plan attached, before it was recorded. He alleged that her “negligence” resulted in the Crawfords not being properly advised as to the consequences of the transaction they were entering into. The Texas couple ended up purchasing land that did not meet the boundary specifications intended, while their reliance on Mr Stubbs’ oral promises regarding the 15-foot access road gave them no interest in this vital link to their property. The Crawfords were also not warned by Mr Dorsett-Major about the absence of restrictive covenants or other rights that would prevent a commercial enterprise - such as

Mr Stubbs’ restaurant from being built near their home. As a result of these findings, Justice Charles concluded that the attorney was negligent and has set June 17, 2020, as the date for a hearing to determine how much she will have to pay in damages. Turning to the issues raised, Justice Charles said: “Now the practice of the same attorney acting for a vendor and a purchaser in the same purchase and sale of land may be properly characterised as a non-contentious matter, but it is a practice that has been deprecated by the courts. “It has been said that an attorney who acts for both parties put himself/herself in such an indefensible position that he/she must be liable to one or the other. Take an example. It is the duty of the attorney for the purchaser to undertake certain searches of the property being purchased to determine that what the vendor states is being sold actually conforms to what the vendor has contractually agreed to sell. “Unquestionably, this involves one client - the purchaser - making an inquiry of the other client - the vendor. The attorney is bound to inform the purchaser of the result of the searches undertaken. It is for this reason that courts frown upon attorneys representing both purchaser and vendor, but despite strong judicial admonitions, the practice of the same attorney acting for both parties in non-contentious matters continues.” Tribune Business has over the past two decades reported on multiple questionable real estate and commercial transactions that often have the same characteristic in common - an attorney representing both the seller and the buyer. Bahamians frequently agree to such arrangements as as way to minimise or share the costs of such deals, but this often comes with consequences unforeseen at the time. Vendors often propose who both sides can use for the legal work but,

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if a dispute breaks out between themselves and the purchaser, the attorney almost inevitably sides with one of the parties - usually the person who has most money, or who brought them into the transaction. The potential for conflicts of interest, as well as costly and longrunning disputes, is high and to the detriment of all involved as well as Bahamian commerce. Justice Charles, meanwhile, noted in her judgment that the Crawfords decided to buy their Cat Island property after becoming “captivated by its beauty and serenity” in 2010. The deal was concluded on August 30 that year but, in mid-September 2014, the couple were in the US when they were informed that Mr Stubbs had begun building a property across the access road and had also constructed a septic tank on the beach by their property. “The septic tank has no inspection access covers and does not comply with the rules and regulations governing the placement of a septic tank so close to the ocean,” the Supreme Court judgment said. “Despite numerous requests by the Crawfords and their attorneys to cease and desist all construction, Mr Stubbs failed and/or refused to heed any of the warnings.” Noting numerous inconsistencies in Mr Stubbs’ evidence, and his replies under cross-examination, Justice Charles described him as “an unimpressive and inherently unreliable witness”. She expressed disbelief at suggestions that his surveyor “miraculously” inserted an access road on two plans of Shanna’s Cove without his instructions. “Mr Stubbs appeared

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LEGAL NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000 ERIDANUS GLOBAL STRATEGY FUND LTD. NOTICE IS HEREBY GIVEN in accordance with section 138 (4) of the International Business Companies Act, 2000, as follows: 1.)

Eridanus Global Strategy Fund Ltd.(the “Company”) is indissolution under the provisions of the International Business Companies Act, 2000.

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ALL SHARE INDEX: CLOSE: 2,136.33 | CHG: 0.97 | %CHG: 0.05 | YTD: -95.27 | YTD%: -4.27 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.75 2.60 2.00 5.47 12.77 6.17 4.50 10.30 3.64 5.10 10.88 8.15 16.99 9.40 4.25 15.21

52WK LOW 3.35 20.91 5.50 5.39 1.78 0.67 2.00 10.21 5.60 3.62 5.41 2.53 1.85 8.00 6.63 13.04 6.98 3.14 13.90

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Class A Focol Class B

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

Notice is hereby given that in accordance with Section 138(4) of the international Business Companies Act. 2000,OASIS VILLA INC. is in dissolution as of March 17, 2020

to have developed a personal animosity toward the Crawfords and a desire to remain the ‘boss’ in Shanna’s Cove,” Justice Charles concluded. “His former position as the administrator of the island seemed to have ‘gone to his head’, giving him false aspirations. “His desire to bend the Crawfords and the other residents of Shanna’s Cove to his self-control was further exacerbated when the court visited the [site] On that visit, when the court asked Mr Stubbs a question about the location of the survey pins, he marched on to the Crawfords’ property, laid hold of a mature plant that was near one of his recently installed survey pins and wrenched it from the ground. “He did so without permission and without thought or care for whose land he was on, or whose shrubbery he was destroying. In the words of Mr Sweeting: ‘There could hardly be a clearer demonstration of his imperious, bullying attitude or the accuracy of the claims against him’,” Justice Charles added. “In addition, I believed Mr Crawford when he testified that Mr. Stubbs has threatened his life and the safety of his wife and his dog. He said that Mr Stubbs has also threatened to bring a bulldozer to demolish their house and had stated that ‘no judge in The Bahamas can tell him what he can or cannot do with his property’. This is indeed unfortunate language coming from a man who once held the prestigious position of administrator of Cat Island.”

SUPPORT THE BLOOD BANK

1.00 10.00 1.00

1.00 10.00 1.00

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 2.99 11.26 6.00 4.00 6.01 2.81 4.90 9.52 8.15 14.50 8.97 4.00 15.20

CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 2.99 11.26 6.00 4.00 6.01 2.86 5.10 9.55 8.15 14.50 8.97 4.00 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.20 0.03 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

51

1,650

VOLUME

EPS$ 0.239 0.932 1.760 0.369 0.070 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.646 0.728 0.816 0.939 0.203 0.631

DIV$ 0.170 1.260 0.000 0.260 0.000 0.020 0.000 0.720 0.220 0.120 0.000 0.434 0.060 0.328 0.240 0.540 0.200 0.120 0.610

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.8 15.6 13.4 21.7 42.9 28.0 10.9 14.8 11.2 17.8 9.6 19.7 24.1

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.67% 3.00% 0.00% 15.17% 1.18% 3.43% 2.94% 3.72% 2.23% 3.00% 4.01% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 0.37% 3.81% 0.24% 4.38% 0.23% 2.75% 5.76% 5.76% 12.81% 12.81% 0.94% 3.72% -3.46% 2.09% -0.11% 3.43% -3.33% 1.53% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% N/A N/A -10.90% -4.30% -18.80% -12.00%

NAV Date 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020

MUTUAL FUNDS

LEGAL NOTICE

NOTICE WHELLER INTERNATIONAL LTD. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the international Business Companies Act. 2000,WHELLER INTERNATIONAL LTD. is in dissolution as of March 20, 2020 International Liquidator Services Inc, situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator

L I Q U I DAT O R

52WK HI 2.30 4.38 2.09 195.13 166.73 1.67 1.85 1.76 1.24 8.34 10.26 7.00 12.15 12.58 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.61 1.75 1.70 1.14 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.30 4.38 2.09 195.13 166.73 1.67 1.79 1.75 1.16 8.31 10.07 7.00 11.42 12.58 10.52 N/A 8.31 10.01

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

31-Mar-2020 31-Mar-2020 31-Mar-2020

PAGE 6, Monday, May 11, 2020

THE TRIBUNE

The past, present and future of cash ACTIVTRADES WEEKLY By RICARDO EVANGELISTA www.activtrades.bs CASH, in one form or another, has been around for millennia, being used as a means of payment and storing wealth. Throughout history large and small transactions have been carried out, using settlement methods that evolved in accordance with whatever was considered valuable, as well as the resources and technology available at the time. Soldiers of the Roman empire received part of their payment in salt, which was considered a valuable commodity in those days; this is from where we derive the modern English words “soldier”, (sal dare – which means to give salt) and “salary” (originated

USD CASH from the Latin salarium). Other commodities have assumed the role of cash, like for example gold and silver. Precious metals have been exchanged in transactions at least since 5000 BC Around 700 BC south-eastern European merchants, the Lydians, produced the first known gold coins, giving birth to the concept of a standardised unit of value, which they named “electrum”. The impact of this momentous change

reverberated down the centuries and is still felt today; 21st century humanity would be very different without money; maybe better, maybe worst, but certainly not the same. Today, many believe the future will be cashless; money won’t be more than numbers in electronic ledgers; an abstract entity without physical representation, such as bank notes or coins. However, the transition may not be

as straightforward as some expect; cash still plays a fundamental role in the lives of countless men and women around the world. According to figures published by the Bank of England, there are currently 70 billion pounds worth of bank notes in circulation, roughly equivalent to £1000 per person in the UK, more than twice as much as a decade ago. Such large numbers are surprising because most of us don’t hold £1000 (or equivalent in other currency) in cash, meaning the hoarding of cash by some is still happening, in particular by those linked to the so-called shadow economy. Also interesting to notice that the value of euro bank notes distributed to individuals and businesses rose by

€41 billion in the four weeks to April 10, as the coronavirus crisis took hold; it seems hoarding physical cash, as well as toilet paper, can, for many, be a source of comfort during uncertain times. But it is undeniable that historical momentum points to an increasingly cashless future. In the more advanced economies the use of debit and credit cards, quite often through contactless technology, is common, as is online banking and electronic transfers. The number of

high-street bank branches has declined, with most operations now carried out online, frequently via apps on smart phones. In developing countries, where many don’t have access to electronic banking, or in some cases not even a bank account, the use of mobile phone payment methods, like M-Pesa in Kenya, is already an alternative to the use of physical money. So, we may indeed one day end up living in cashless societies, but it won’t be just yet.

LEGAL NOTICE

N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION GABON (AROUWE) LIMITED

Curbside or Mailboat Parts Delivery To ensure that you have access to the Cat parts you need, when you need them, we’re open for curbside and mailboat parts delivery. These are the steps to place your parts orders: 1. Contact your usual sales person via phone or email a. New Providence: 242-323-5701 Option 1/nassau.sales@me-ltd.com b. Grand Bahama: 242-352-5981 Option 1/freeport.sales@me-ltd.com c. Abaco: 242-352-5981 Option 1/abaco.sales@me-ltd.com

Salesman Edward Pratt Hailey Evans Teko Rahming Parts Counter Parts Counter

Dated the 11th day of May, A.D., 2020. Mario Pedercini Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A. LEGAL NOTICE

N O T I C E

2. Contact us via WhatsApp Island New Providence New Providence New Providence Grand Bahama Abaco

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 25th day of May, A.D., 2020. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

Contact Number 242-376-2014 242-376-7144 242-376-3688 242-727-2774 242-727-2774

Give us a call, and your sales associate will guide you through our curbside pickup process. Thank you and be safe during this uncertain time!

EXXONMOBIL CHEMICAL VENTURES LIMITED Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 25th day of May, A.D., 2020. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 11th day of May, A.D., 2020. T.C. Smith Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A. LEGAL NOTICE

N O T I C E EXXONMOBIL CHEMICAL VENTURES LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL CHEMICAL VENTURES LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 19th day of April 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is T.C. Smith, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 11th day of May, 2020 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company LEGAL NOTICE

N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION GABON (AROUWE) LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION AND PRODUCTION GABON (AROUWE) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 29th day of April 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Mario Pedercini, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 11th day of May, 2020 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

THE TRIBUNE

Monday, May 11, 2020, PAGE 7

Cruise port chief in ‘guarantee’ on bond’s success FROM PAGE ONE Mr Ferguson did not name the investment houses/ broker-dealers involved but, apart from concerns as to the timing and extent of when the cruise industry revives - especially its return to Nassau - there are also understood to be market concerns over whether the lines will opt to call more frequently at their Bahamian private islands and reduce visits to the capital city. Moving to reassure investors, and signal Global Ports Holding’s confidence in Nassau’s future cruise prospects, Mr Kutman said: “I’m fairly comfortable to say the issue will be oversubscribed but, just in case, because of issues with somebody talking badly about the deal, we’ll chip in the difference. We’ll make it up. This construction will be finished before my mother passes away. I guarantee this as Mehmet Kutman.” Michael Maura, Nassau Cruise Port’s chief executive, told this newspaper there had already been strong investor interest in the debt finance issue, which is seeking to raise $80m in Bahamian currency and the $50m balance in US dollars.

ARTISTS’ renderings of proposed development to Nassau Cruise Port. “We’re fielding a lot of questions,” he said. “It wasn’t, I don’t think, three hours had passed after the launch. By 11am on the first day we had received commitments and, in a couple of cases, actual physical cheques. Three hours after the opening we had very wealthy Bahamians, realising the significance of tourism to GDP, writing cheques without question. They just wrote a cheque. “The fact is we have money coming in. After five days we’re approximately

half-way there, and we have another week. This project is so significant, and money is coming in recognising the significance of tourism that is bigger than just Nassau Cruise Port. People are investing in tourism infrastructure more so than Nassau Cruise Port the company. “Mehmet said specifically that should there be some shortfall he is prepared to step up and make it happen. That should bring some reassurance to people dipping into their pockets as well.”

Mr Ferguson, meanwhile, said the bond - which is aiming to raise enough construction financing to fund Prince George Wharf’s redevelopment for the next 12 months - had “been going steady” even though some investment houses have “actively discouraged people from getting involved”. This comes as little surprise, as Tribune Business had been picking up indications of a lukewarm reaction in some quarters to Nassau Cruise Port’s capital call due to its timing in the midst of the global cruise and Bahamian tourism shutdown. With the port itself predicting that cruise passenger numbers will not exceed 2019’s 3.81m until 2023, this newspaper understands that some potential investors are concerned whether there will be sufficient visitor volumes to generate the necessary interest payments to service the debt and all other financial obligations. However, Mr Ferguson argued: “It’s really solid investment. When we stress

tested it, interest is not in jeopardy. This is a 20-year bond. Even stress testing it at 50 percent, interest is not in jeopardy.” He indicated that Nassau Cruise Port also has a backup plan available to it in the form of bank financing that would likely come with lower costs (interest rates) than the eight percent coupon yield attached to the $130m bond issue. “There’s always the intent of the original plan to have debt financing” Mr Ferguson added. “That should be easily obtainable. I’ve had several banks call me wanting to get involved. “We can always go to the banks at a lower rate. We’re trying to be balanced, giving Bahamian pension funds, institutional funds, a very attractive rate compared to what they’re getting in the bank. “ A passenger facility charge (PFC) levied on all users of the cruise port will finance repayment of the $130m bond and an additional $80m worth of debt to be raised in 2021. The

levy, which was $4 per head in 2019, is being increased to $5.50 this year and then to $8.50 per person in 2021. From 2022 onwards, all increases will be linked to inflation as measures by the consumer price index (CPI). Any year-over-year increases greater than five percent have to approved by the government as part of the agreement struck with Global Ports Holding for the cruise port’s redevelopment. Nassau Cruise Port and Global Ports Holding executives on the call acknowledged to Tribune Business that the strength and timing of the cruise industry’s return is presently unknown, although the former is predicting it will happen in the 2020 fourth quarter. However, they all argued that Nassau and, by extension, The Bahamas, is likely to be at the “forefront” of any rebound given its proximity to the major US cruise ports and ability to offer multiple destinations. As a result, it was perfectly suited for the short-haul, three to four-night cruises likely to be favoured by passengers in COVID-19’s aftermath. And just sailing to their private islands, and excluding Nassau, will not make for a viable itinerary. The Nassau Cruise Port’s $150m bond offering is a private placement, meaning that it is targeted only at select investors such as institutions (pension funds, credit unions, insurance companies etc), high net worth individuals and the investment banks/broker dealers that advise them. Ordinary Bahamians should not seek to become involved.

PAGE 8, Monday, May 11, 2020

THE TRIBUNE

Sebas blasts PM on gaming closure FROM PAGE ONE He added: “They were never intended to apply to the operations of gaming houses, and this is now made abundantly clear by the provisions of Part B of the order. Those provisions specifically state that permission to engage in home delivery and curbside pickup services do not apply to ‘a gaming house operator’.” This means that web shops at Island Luck will

once again have to close after re-opening last week at multiple locations where they were able to offer both drive through and curb-side services for patrons wishing to purchase numbers or deposit monies to their accounts. Dr Hubert Minnis gave no explanation for the move, or why domestic gaming operators are the only industry singled out as not fit to provide services in this manner. It is

possible, though, that the government is becoming concerned that jobless Bahamians will spend their unemployment benefits on numbers as opposed to groceries and other essentials in the hope of securing “a big win”. Mr Bastian, meanwhile, was not the only person voicing outrage at the government’s action. Wayne Munroe QC, who represents several web shops but not Island Luck, last

night branded the prime minister’s actions as “despotic” and said his firm was already beginning to explore whether it could be challenged legally on behalf of his clients. Revealing that he “would really like to see the medical advice that informed the decision that web shops cannot offer curb side service”, and is likely to request this from the government, Mr Munroe blasted: “It’s despotic. This is the reason you generally don’t give one man power like this. “The question is whether or not it can be successfully challenged. That is something my firm and I are beginning to look at this [last] evening. Here you have a proposition that we will single one business out to say you cannot do business. It cannot be on the basis you say it’s a ‘sin’ because liquor’s a ‘sin’. I cannot see a rational reason for it.” Mr Munroe added that the government’s decision also could not be grounded in health because liquor and alcohol-related products are more harmful to a person’s physical health, and the ability of their immune system to withstand COVID-19, than gaming. “I cannot understand it at all other than just petty mindedness,” he said. “The fact he feels he can do that should cause the rest of us to be very afraid. He’s coming for the gaming houses now; who’s he coming for next? It’s Orwellian. I can’t understand why the Bahamian people are taking this so calmly.” Mr Bastian, meanwhile, blasted: “The prime minister’s most recent singling out of the gaming industry in his national address seems like yet another attempt to target a sector that employs more than 3,500 Bahamians. “Why the government is intent on keeping the sector

WAYNE MUNROE closed and these Bahamians out of work is unclear. What has become apparent is that there is no logic or rationale to support the government’s ad-hoc decision-making.” Pointing out that domestic gaming had also closed down because of the COVD-19 public health crisis, Mr Bastian said Island Luck had committed to paying staff salaries and covering the “shortfall” difference between employee incomes and National Insurance Board (NIB) benefits. With workers receiving their full pay for sox weeks, he added that the company “accelerated existing plans for the implementation of new technologies” together with improved drive through, social distancing and sanitisation protocols to allow Island Luck to provide curb side services without patrons having to access its physical locations. “If the government’s core objective is to reduce the possibility of the spread of COVID-19, we have gone above and beyond to meet that objective,” Mr Bastian said. “In fact, Island Luck has one of the most efficient and well-organised curb side services in The Bahamas. “Given the prime minister’s finger-wagging at the gaming industry despite

these measures, it can only be assumed that reducing the spread of COVID-19 is not the government’s core objective. And, with liquor stores and other ‘non-essential’ businesses open, we now know that the aim is not to limit so-called ‘vices’ or to restrict the operation of non-essential businesses.” Questioning why there had been no dialogue with an industry that employs 3,500 as the unemployment rate heads towards 30 percent, Mr Bastian added: “Instead, there has been silence and the gaming industry has been assailed by this government yet again.... “To avoid further confusion, the government should make clear its decision-making processes as it relates to business openings and take an inclusive approach to this by engaging industry stakeholders the same way that courtesy is extended to other industries. Regardless, it leaves a glaring question: Are these measures purposeful or personal.” Tribune Business understands that the Gaming Board last week sought legal advice from the Attorney General’s Office over whether domestic gaming could re-open delivery and curb-side services and was told it could go ahead.

THE TRIBUNE

Monday, May 11, 2020, PAGE 9

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned. YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides. Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property. This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home. We look forward to your continued support in this worthwhile endeavour.

MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100

CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus

OPPORTUNITIES • • • •

Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters

BENEFITS

• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

To advertise in The Tribune, contact 502-2394

PAGE 10, Monday, May 11, 2020

THE TRIBUNE

Trump advisers cite need to stop ‘permanent’ economic toll WASHINGTON Associated Press SOME of President Donald Trump’s top economic advisers emphasised yesterday the importance of states getting more businesses and offices open even as the pandemic makes its way to the White House complex, forcing three members of the administration’s coronavirus task force into self-quarantine. The president and governors who will decide when to reopen their states are facing competing pressures. More economic activity and travel will likely lead to more people contracting COVID19. But tight restrictions on which businesses can operate are causing millions of people to join the ranks of the unemployed. Decisions about how fast to reopen come with a general election less than six months away, and Trump and other incumbents facing the prospects of seeking another term in the midst of a public health and economic crisis. “If we do this carefully, working with the governors, I don’t think there’s a considerable risk,” Treasury Secretary Steven Mnuchin said on “Fox News Sunday”. “Matter of fact, I think

PRESIDENT Donald Trump listens as Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room of the White House in Washington. Some of Trump’s top economic advisers emphasised yesterday, the importance of states getting more businesses and offices open. Photo: Alex Brandon/AP there’s a considerable risk of not reopening. You’re talking about what would be permanent economic damage to the American public.” Another 3.2 million US workers applied for jobless benefits last week, bringing the total over the last seven weeks to 33.5 million as states restrict activities to slow the spread of the virus. Mnuchin said the jobless numbers “are probably going to get worse before they get better”, but he expected the economic numbers to improve in the

second half of 2020 and that next year would be a “great year”, Gov Mike DeWine, R-Ohio, announced this past week that his state’s bars and restaurants can fully reopen in two weeks, on May 21, with outside dining allowed a few days earlier. Barbershops, hair salons, nail salons and day spas will also reopen this coming Friday. He said he wished the number of coronavirus cases were going down, but the state needs to come back

“very carefully”. “We’ve got to try to do two things at once and it’s, you know, no one is underestimating how difficult this is, but it’s something that we have to do,” DeWine said on Fox. The White House dispatched several of its top economic advisers to hit the Sunday talk shows. The appearances came on the heels of three key advisers, including Dr Anthony Fauci, taking new precautionary steps after coming into contact with someone who had tested positive for COVID-19. Fauci is the director of the National Institute of Allergy and Infectious Diseases and has become nationally

known for his simple and direct explanations to the public about the coronavirus and COVID-19, the disease it causes. Also quarantining are Dr Robert Redfield, director of the Centers for Disease Control and Prevention, and the commissioner of the Food and Drug Administration, Stephen Hahn. Fauci’s institute said that he has tested negative for COVID-19 and will continue to be tested regularly. It added that he is considered at “relatively low risk” based on the degree of his exposure, and that he would be “taking appropriate precautions” to mitigate the risk to personal contacts while still carrying out his duties. While he will stay at home and telework, Fauci will go to the White House if called and take every precaution, the institute said. Redfield will be “teleworking for the next two weeks” after it was determined he had a “low-risk exposure” to a person at the White House, the CDC said in a statement on Saturday evening. The statement said he felt fine and has no symptoms. Just a few hours earlier, the Food and Drug Administration confirmed that Hahn had come in contact with someone who tested positive and was in self-quarantine for the next two weeks. He also tested negative for the virus. All three were scheduled to testify before a Senate

panel during a hearing tomorrow focused on how to safely return people to work and school. Sen Lamar Alexander of Tennessee, the panel’s Republican chairman, announced yesterday that Fauci will be joining all of the administration’s witnesses in testifying by videoconference “in an abundance of caution for our witnesses, senators, and the staff”. Statements from the agencies the officials oversee took care not to identify the person they had contact with earlier last week. Vice President Mike Pence’s press secretary, Katie Miller, tested positive for the coronavirus on Friday, making her the second person who works at the White House complex known to test positive for the virus in the past week. White House officials had confirmed on Thursday that a member of the military serving as one of Trump’s valets had tested positive for COVID-19 a day earlier. White House adviser Kevin Hassett noted that the vice president’s press secretary tested negative one day and positive the next. He appeared on CBS’s “Face the Nation”. “And so this is a very, very scary virus. You know, that people are going to go back to work and they’re gonna be worried about things,” Hassett said. “And it’s going to take awhile for things to get back to normal, absolutely.” At the same time, he said some $9tn has been injected into the economy through actions taken by Congress, the White House and the Federal Reserve. “I think that right now we have bought some time with all the money that we’ve thrown at the economy and we’ve been using the time to do things like develop treatments, improve our treatments, learn more about social distancing and so on,” Hassett said.

THE TRIBUNE

Monday, May 11, 2020, PAGE 11

UK’S JOHNSON LAYS OUT ROAD MAP FOR EASING VIRUS LOCKDOWN LONDON Associated Press UK Prime Minister Boris Johnson yesterday outlined a “conditional plan” for reopening British society in the coming months, including the possible return to school for some young children at the start of June, as well as some easing of the coronavirus lockdown in England. In a televised address to the nation, Johnson said this is “not the time, simply, to end the lockdown this week”, but that it was appropriate to make some changes, including encouraging people with jobs that cannot be done from home to return to work. However, his plan of action lacked many details and raised a series of new questions, not least over potentially divergent approaches by the four constituent nations of the UK — England, Scotland, Wales and Northern Ireland. More details will be unveiled in Parliament today. Johnson said it would be “madness” to loosen restrictions so much that a second spike in cases emerges. The UK recorded as of yesterday almost 32,000 virus-related deaths, the most in Europe and the second-highest pandemic toll worldwide. Johnson said that without the lockdown, in place since March 23, half a million people may have lost their lives. “We must continue to

IN this grab taken from video issued by Downing Street yesterday, Britain’s Prime Minister Boris Johnson delivers an address on lifting the country’s lockdown amid the coronavirus pandemic. Photo: Downing Street/AP control the virus and save lives,” the prime minister said from an office at 10 Downing Street. “And yet we must also recognise that this campaign against the virus has come at colossal cost to our way of life.” The lockdown has reduced the transmission of the novel coronavirus in the community, but has come at a heavy economic cost. Johnson, who returned to work only two weeks ago following his hospitalisation for COVID-19, has come under pressure to relieve the pressure on the economy. He said the government would proceed cautiously but that he could announce “the first careful steps” in relaxing the lockdown in England. He said people who cannot work from home,

such as those in construction or manufacturing, “should be actively encouraged to go to work” starting this week. However, he said they should not commute by public transportation and adhere to social distancing guidelines. It was unclear how those with children can return if schools remain closed and how workplaces can be designated as safe. And starting Wednesday, the government will also allow people to take “unlimited amounts” of exercise outdoors instead of being limited to once a day, Johnson said. Members of the public will be able to sunbathe, drive to destinations such as beaches, and play sports such as golf and tennis — but only with members of the same household. The changes permit

individuals to sit with a friend in a park provided they keep two metres apart, something prohibited during the lockdown. In theory, that means people can meet their mother or father, but not both. No details were provided on when people can meet with friends and family again. Johnson said fines for violations of the social distancing rules would be increased. The governments in Scotland, Wales and Northern Ireland, extended their lockdowns prior to Johnson’s speech and eased restrictions less than the steps the prime minister announced for England. That prompted questions over the potential for divergent approaches across the UK in the months ahead. Up until now, they have

moved in lockstep on virus regulations. Johnson is at odds with the leaders of Scotland, Wales and Northern Ireland after his government replaced its “Stay at Home” public health slogan with a new “Stay Alert” message, wording that raised concerns about the potential danger of mixed messaging. They said they would retain the “Stay at Home” message. Scottish First Minister Nicola Sturgeon said she didn’t know what the new advice meant and has asked the UK government not to promote a “vague and imprecise” message in Scotland. Keir Starmer, leader of the main opposition Labour Party, said he was worried about the four nations “pulling in different directions” and that Johnson failed to provide the necessary “clarity and consensus”. Health experts also expressed concern about the new slogan. Professor Til Wykes of the Institute of Psychiatry, Psychology and Neuroscience at King’s College London, said it “will just be confusing, be open to misinterpretation and likely to increase risky behaviour.” Johnson also laid out what he called “the first sketch of a road map for reopening society” in coming months, including the potential opening of shops and the return to

school for some younger children as early as June 1. He also expressed hope that segments of the hospitality industry and more public places could reopen a month later. “Throughout this period of the next two months, we will be driven not by mere hope or economic necessity,” he said. “We are going to be driven by the science, the data and public health, and I must stress again that all of this is conditional, it all depends on a series of big ifs.” He said the UK government was introducing a scale for measuring the threat from the virus. Johnson explained the COVID Alert Level will guide policy — the lower the level, the fewer the measures. “We will be monitoring our progress locally, regionally, and nationally, and if there are outbreaks, if there are problems, we will not hesitate to put on the brakes,” he said. Johnson also said it will “soon be the time” to require those arriving in the country by plane to quarantine. No further details were provided but there’s speculation that the quarantine would be 14 days unless travelers are coming from Ireland. Anyone arriving from France will be exempt, Johnson’s office confirmed after a conversation between the prime minister and French President Emmanuel Macron.

THE TRIBUNE

Monday, May 11, 2020, PAGE 13

College class of 2020 will graduate into wobbly economy KANSAS CITY Associated Press WITH graduation looming, the future is looking a lot less bright than it did just a few months ago for college seniors. They are entering a job market flooded with tens of millions of workers who have lost their jobs amid the coronavirus, The Kansas City Star reports. Margaret Simms, a nonresident fellow at the Urban Institute, described the situation as “dire”, saying experienced workers will be the first to return to work as businesses reopen and move beyond skeleton staffing. Erica Overfelt, a senior journalism student from the University of Missouri who lost her job at Columbia’s Arc Recreation Center early in the pandemic, knows firsthand the anxiety of leaving school and stepping into the unknown. She said she feels that college students have been “left in the dark”. After a brief stay with her parents in Jefferson City after the campus shut down, she is back in her apartment, struggling to pay the rent. Juaquin Robles, a 23-year-old New York University senior visiting MU through a fellowship with the Missouri Democratic Party, originally planned to move to Washington, DC, post-graduation. Now, he’s not so sure. “It seems like a huge setback for me, because it doesn’t seem like I’m going to be able to move forward with the economy that is

worsening at the moment,” Robles said. Students still in college, who thought they had summer gigs locked down, are also grappling with undetermined employment. And there’s no assurance that even their part-time jobs will return. “The effects are definitely most acute for those people who right this minute are graduating — the class of 2020 — those college graduates, but also there are impacts that are going to feed back onto sophomores and juniors,” Donna Ginther, director of the Institute for Policy & Social Research at the University of Kansas, said. Nicole Smith, a University of Missouri sophomore, was working three jobs when the COVID-19 pandemic hit. She moved home to Rogersville after she lost her hours as a hostess at Texas Roadhouse. Her other jobs, nanny and teaching assistant, were not enough to cover the $570 rent on her Columbia apartment, let alone groceries and car insurance. Now, her summer job as a camp counselor is also up in the air. She said it’s best described as “a slippery slope”. Johns Hopkins University reported 494 deaths and 9,900 cases in the state as of Sunday. For most people, the coronavirus causes mild or moderate symptoms that clear up after two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.

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PAGE 14, Monday, May 11, 2020

THE TRIBUNE

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 86° F/30° C Low: 63° F/17° C

TAMPA

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY

A couple of showers and a t‑storm

Brief showers early; mostly cloudy

A morning thunder‑ storm in the area

Be advised for strong winds

A couple of showers and a t‑storm

A t‑storm possible; winds subsiding

High: 83°

Low: 74°

High: 84° Low: 71°

High: 83° Low: 72°

High: 83° Low: 73°

High: 84° Low: 73°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

91° F

73° F

88°-74° F

82°-72° F

88°-73° F

89°-73° F

High: 85° F/29° C Low: 66° F/19° C

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

almanac

E

W

ABACO

S

N

High: 78° F/26° C Low: 75° F/24° C

8‑16 knots

S

High: 81° F/27° C Low: 69° F/21° C

8‑16 knots

FT. LAUDERDALE

FREEPORT

High: 82° F/28° C Low: 72° F/22° C

N E S

E

W

WEST PALM BEACH

W

uV inDex toDay

TONIGHT

High: 81° F/27° C Low: 73° F/23° C

MIAMI

High: 82° F/28° C Low: 72° F/22° C

8‑16 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 79° F/26° C Low .................................................... 70° F/21° C Normal high ....................................... 84° F/29° C Normal low ........................................ 71° F/21° C Last year’s high ................................. 89° F/32° C Last year’s low ................................... 75° F/24° C Precipitation As of 2 p.m. yesterday ................................. 0.04” Year to date ................................................. 6.25” Normal year to date ..................................... 6.99”

ELEUTHERA

NASSAU

High: 83° F/28° C Low: 74° F/23° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 80° F/27° C Low: 76° F/24° C

N

KEY WEST

High: 82° F/28° C Low: 73° F/23° C

High

Ht.(ft.)

Low

Ht.(ft.)

Today

11:47 a.m. ‑‑‑‑‑

2.3 ‑‑‑‑‑

5:54 a.m. ‑0.2 5:50 p.m. ‑0.2

Tuesday

12:15 a.m. 12:44 p.m.

3.0 2.2

6:50 a.m. 6:47 p.m.

0.0 0.1

Wednesday 1:11 a.m. 1:44 p.m.

2.8 2.1

7:47 a.m. 7:47 p.m.

0.2 0.4

Thursday

2:08 a.m. 2:46 p.m.

2.6 2.1

8:44 a.m. 8:50 p.m.

0.3 0.6

Friday

3:06 a.m. 3:46 p.m.

2.5 2.2

9:40 a.m. 9:52 p.m.

0.4 0.6

Saturday

4:02 a.m. 4:40 p.m.

2.4 2.3

10:30 a.m. 0.4 10:50 p.m. 0.6

Sunday

4:53 a.m. 5:28 p.m.

2.3 2.4

11:15 a.m. 0.3 11:42 p.m. 0.5

sun anD moon Sunrise Sunset

High: 80° F/27° C Low: 76° F/24° C

N

S

E

W

7‑14 knots

S

5‑10 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

tiDes For nassau

6:27 a.m. 7:45 p.m.

Moonrise Moonset

none 10:14 a.m.

Last

New

First

Full

May 14

May 22

May 29

Jun. 5

CAT ISLAND

E

W

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 82° F/28° C Low: 77° F/25° C

High: 82° F/28° C Low: 77° F/25° C

N

High: 81° F/27° C Low: 77° F/25° C

E

W S

LONG ISLAND

tracking map

High: 83° F/28° C Low: 78° F/26° C

6‑12 knots

MAYAGUANA High: 85° F/29° C Low: 79° F/26° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 82° F/28° C Low: 79° F/26° C

GREAT INAGUA High: 86° F/30° C Low: 79° F/26° C

N

N E

W

E

W

L

High: 84° F/29° C Low: 79° F/26° C

S

S

6‑12 knots

5‑10 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday:

WINDS NE at 8‑16 Knots ENE at 10‑20 Knots N at 7‑14 Knots ENE at 12‑25 Knots SSE at 6‑12 Knots NE at 10‑20 Knots SE at 7‑14 Knots ENE at 7‑14 Knots N at 7‑14 Knots ENE at 12‑25 Knots NE at 8‑16 Knots ENE at 10‑20 Knots S at 5‑10 Knots NE at 10‑20 Knots SE at 5‑10 Knots NNE at 6‑12 Knots NE at 6‑12 Knots NE at 8‑16 Knots SE at 7‑14 Knots E at 7‑14 Knots NNE at 7‑14 Knots ENE at 12‑25 Knots SE at 6‑12 Knots NE at 7‑14 Knots N at 6‑12 Knots NE at 10‑20 Knots

WAVES 3‑6 Feet 3‑6 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 4‑7 Feet 2‑4 Feet 3‑5 Feet 3‑5 Feet 4‑7 Feet 2‑4 Feet 2‑4 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 3‑6 Feet 4‑7 Feet 2‑4 Feet 1‑3 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 3‑6 Feet 4‑7 Feet

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VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 79° F 79° F 81° F 80° F 80° F 80° F 81° F 80° F 79° F 79° F 80° F 78° F 81° F 82° F 82° F 83° F 82° F 83° F 82° F 82° F 79° F 79° F 82° F 82° F 80° F 79° F