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‘VANISHED’ Prime Minister claims NGOs have not submitted accounts By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net PRIME Minister Philip “Brave” Davis said two non-governmental organisations have not submitted records to give an account of the combined more than $10m they received from the former Minnis administration under its national food programme. While he did not name either NGO, Mr Davis said the organisations provided no information at all to explain how the money aided hurting Bahamians at the height of the COVID-19 pandemic. He added that other
PRIME Minister Philip “Brave” Davis in Parliament yesterday. Photo: Racardo Thomas/Tribune Staff
organisations refused to provide any information at all. His comments came as he tabled a 138-page audit report into the National Food Distribution Task Force and the food programme, which have now been disbanded. Mr Davis said the report uncovered “startling findings” along with “major deficiencies” including a lack of record keeping, inconsistencies relating to the sums of money handled and a complete absence of minutes from meetings that were held. Mr Davis said the task force could not provide the auditors with information
that should have already been completed and readily available. Even in instances where the information was provided, only aggregate totals were offered, with none of the supporting documents that would be critical to corroborate figures. There is no back-up provided, no contracts, no cheques, no receipts and no bank statements to support the information, he said. Mr Davis also took issue with what he called “exorbitant fees” that were paid to some vendors, including a restaurant that was delivering food parcels to families in the programme. SEE PAGE THREE
‘NO POLITICAL WITCH HUNT OVER WSC’ By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net
PRIME Minister Philip “Brave” Davis has dismissed accusations that his administration is on a political witch hunt regarding the Water and Sewerage Corporation. It is a matter in which both Mr Davis and Public Works Minister Alfred Sears - who has WSC in his portfolio - has said they will not interfere.
FORMER Water & Sewerage executive chairman Adrian Gibson. Yesterday, Mr Sears went so far as to say that he did
not know the details or particulars of the ongoing probe. This comes after Official Opposition Leader Michael Pintard contented on Saturday that the Davis administration was targeting former Water and Sewerage executive chairman Adrian Gibson, after several rental vehicles belonging to Mr Gibson were allegedly seized on Long Island as part of a police investigation. SEE PAGE FIVE
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PAGE 2, Tuesday, May 17, 2022
THE TRIBUNE
Cooper reveals details of Lucayan deal under Minnis administration By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net BAHAMAS Port Investment Limited offered to purchase the Grand Lucayan resort from the Minnis administration for $50m and also wanted the former government to provide $100m in cash concessions for redevelopment of the property, Deputy Prime Minister Chester Cooper revealed of the since-binned purchase agreement yesterday. Back in 2018, the Minnis administration purchased the property for $65m $30m in direct cash and a mortgage with the seller for the remainder, Mr Cooper said. However, the Tourism, Investments and Aviation Minister said the $50m purchase price was arrived at after the property suffered damage following the passage of Hurricane Dorian. He made the revelation yesterday in the House of Assembly, disclosing much of the long-awaited details of the former administration’s deal for the Grand Lucayan Resort before the Davis administration cancelled it late last year. According to Mr Cooper, following Hurricane Dorian’s damage of the property the board of Lucayan Renewal Holdings claimed $20m in insurance damage and received a settlement of $13m, which was applied to the mortgage. “At this point,” Mr Cooper told Parliament
yesterday, “the property was under contract for sale to Bahamas Ports International, a joint venture between Royal Caribbean Cruise Lines and the ITM Group, for $65m, therefore, a discount of $15m was extended to the prospective buyers and the purchase price was adjusted to $50m. “On March 2, 2020, a Cabinet appointed negotiating committee finalised the Sales Purchase Agreement between LRHL and Bahamas Ports International, at a price of $50m. The agreement included condition precedents, among them the requirement to complete an agreement with BPI and Hutchison on the cruise port.” However, after the pandemic hit - dealing another economic blow to the Bahamian economy, Mr Cooper said officials sought to amend the agreement with BPI even further. Details of the revised deal, he added, included requests for a $33m loan to finance with the property’s purchase and millions of dollars in cash concessions from the government among other incentives. “By November 2020, the BPI’s best and final offer for the purchase of the hotel property (was) for $50m with government contributing $100m in cash concessions to BPI over a 12-year period,” the tourism, investment and aviation minister further told parliamentarians. “To be clear, this meant
that the government of The Bahamas was asked to pay around $10m per year directly to the purchaser to help with redeveloping the property. This was in addition to other concessions and caveats. For example, of the $50m purchase price, BPI asked for an upfront $12m concession payment to be credited toward the purchase price. Also included in the $50m sale price was a government loan to BPI.” Additionally, Mr Cooper said the revised deal would’ve also resulted in several major projects being scaled back. “To be more specific, BPI proposed to develop the property in three phases rather than two, whereby initially only 25 rooms at Lighthouse Pointe would be opened in 2022, to be ‘grown with demand’, as opposed to the original 500 rooms Breaker’s Cay Hotel by mid-2022. The new proposal had no timeline for the Breaker’s Cay Hotel opening. The new proposal also deferred the opening of three new cruise ship berths to 2027.” He continued: “The new proposal also asked the government to provide a $33m mortgage as part of financing of the $50m purchase price in an amortising loan with a two-year grace period, a one-year interest only period and repayment over ten years at an interest rate of six percent for the first five years and eight percent for the last five years.
“So, for posterity let me recap. We paid $65m for the resort. We had agreed to sell it for $50m. The buyers wanted a mortgage of $33m from us to buy the property from us. In addition, we were to pay back $100m to the buyer in cash concessions in addition to a myriad of tax concessions. The board did not find that proposal to be in the best interest of the government or the Bahamian people and said so publicly. And upon coming to office and reviewing the proposal, the new administration concurred, to put it mildly.” According to Mr Cooper, some $150m in direct government subsidy have been injected into the hotel as of last September. “We estimate that there
have been millions more spent throughout the process in indirect costs and an estimated additional $10m-$15m to be spent before any transaction is completed even on its current trajectory. I remind this honourable House that the monthly subsidy to this resort was in the region of $1.3m to $1.5m per month,” he also said. Last week, Mr Cooper announced that Electra America Hospitality Group was selected as the new buyer from five potential bidders vying to purchase the resort property. The US conglomerate is offering $100m to purchase the Grand Lucaya. They also plan to invest $300m to renovate and redevelop the property.
There is a 60-day due diligence period, with closing no later than 120 days. An upfront deposit of $5m will be paid immediately on execution of the definitive purchase agreement and will become non-refundable at the end of the 60-day due diligence period. The balance of $95m is due at closing, which has been agreed at no longer than 120 days from the execution of the MOU. The government has committed to standard concessions under the Hotels Encouragement Act. Electra has committed to an estimated $300m renovation to rebuild the Grand Lucayan Resort into an environmentally sustainable, luxury resort.
“You would recall last month, we launched phase one of the Public Private Partnership (PPP) Programme to design, build, finance, operate and maintain several airports throughout The Bahamas and the Grand Bahama International Airport is first on the agenda,” Mr Cooper said yesterday. “We are seeking experienced and qualified private sector partners for the redevelopment of the Grand Bahama International Airport, with the objective of revitalising Grand Bahama’s economy. “We launched this first phase on the Department
of Aviation’s website and asked interested entities to submit Requests for Pre-qualifications and a project information Memorandum for the Grand Bahama International Airport closing yesterday, May 15. I am advised that there are several interested parties, however, a further statement will be made in due course. It is our undertaking to complete the first phase of a world-class airport by Jan 1, 2025.” The airport in Grand Bahama was destroyed by Hurricane Dorian in September 2019. During that time, it was privately owned and
operated by the Freeport Harbour Company, which is part of Hutchison Port Holdings of Hutchison Whampoa Group. Under the Minnis administration, the government purchased it in April 2021 for $1, with plans to redevelop the airport under a PPP. However, the government also paid-out around $1m as its 50 percent share of the redundancy pay and associated benefits received by GBIA staff. According to Mr Cooper, plans are already underway to improve working conditions at the airport. “Preliminary works will begin at the airport next
week under the direction of the Airport Authority and the Ministry for Grand Bahama as it relates to new generators, new elevators, repairs to the air traffic control tower and demolition of certain derelict buildings,” the deputy prime minister added. “We will also undertake to make remedial repairs to the domestic building to remove workers out of the unfit working conditions that they have been subjected to since Hurricane Dorian. That’s right, stacked in a trailer, using out houses and porta potties, two years after Hurricane Dorian,
under the Minnis Administration. We promised the people of Grand Bahama we would do better. We promised to deliver for them a world-class airport and that is what we are doing.” The news comes days after the Davis administration announced Electra America Hospitality Group as the new buyer for the Grand Lucayan resort, which was purchased under the Minnis administration in 2018. The US conglomerate is offering $100m to purchase the Grand Lucaya. They also plan to invest $300m to renovate and redevelop the property.
GOVT ‘KEENLY FOCUSED’ ON AIRPORT FOR GRAND BAHAMA By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net
TOURISM, Investments and Aviation Minister Chester Cooper said the government is “keenly focused” on the Grand Bahama International Airport, telling Parliament they hope to complete the first phase of redeveloping GBIA by January 2025. Mr Cooper, while speaking in the House of Assembly yesterday, said the “world class” facility, once completed, will increase airlift to the island, which he said is key to the island’s economic recovery.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 3
PRIME Minister and Minister of Finance Philip “Brave” Davis (centre) hosted a pre-national Budget communication round table discussion with the business community ahead of next week’s Budget presentation yesterday. Photo: OPM
Prime Minister claims NGOs have not submitted accounts from page one The Cat Island, Rum Cay and San Salvador MP tabled a series of invoices sent to Hands for Hunger from Showman Bahamas Ltd documenting several sums, including one in the amount of $529,760. The invoice, which showed what appears to be the largest sum that was billed to Hands for Hunger by the restaurant, has two-line items. One line detailed that there was a delivery service charge in the amount of $6 for 5,500 parcels at a total cost of $33,000 and the other line said the 5,500 parcels cost $80 per parcel amounting to $440,000. With taxes added, the bill made out to Hands for Hunger was $529,760. Regarding the operations of the programme, Mr Davis said: “There was no consistent system of recordkeeping at the Task Force or NGO level. And it is simply not credible to believe that from 18 May 2020 to October 2021, they were too busy to keep proper records. And some of the records which were kept, raise even bigger questions. “Why were such exorbitant fees paid for some services? “For example, one restaurant was paid $6 per box for the delivery of each food parcel. This amounted to approximately $50,000 per month. Why did they pay $6 to deliver a single parcel of corned-beef, flour, rice and the other very basic items they delivered to families in need? “The delivery cost would have been more than the food itself. And to this day, Madam Speaker, despite numerous requests, two NGOs have still not provided any information at all, and combined, they received more than $10m. Madam Speaker: $10 million of the Bahamian people’s money, has simply vanished.” Mr Davis maintained that pertinent information had still not been provided to auditors. “In the case of the food programme, requests for credible documentation of how $53m was spent have not been answered. To be
clear, documents have been provided, but they are not documents that answer the most important questions posed. “To make an analogy, if someone asks ‘How much did your car cost?’ and the car owner answers, ‘My car is blue’, an answer of sorts has been provided, but not one of great relevance to the questioner. “In the case of the food programme some documents have been proffered up, but they do not provide answers to the Bahamian people’s questions.” Mr Davis reiterated that he had no personal quarrel with any of the individuals or NGOs involved, but that he found it a matter of “great concern” that a programme like this was run out of the Office of the Prime Minister with almost no controls or oversight. He added that he intended to fulfill a promise made in his early days of taking office which was to remove the veil of secrecy from arrangements made and hold those who proffered them to account. In March, Social Services Minister Obie Wilchcombe claimed the country has not been able to provide information to the World Bank on how its $100m loan was used to provide pandemic relief to hurting Bahamians among other things. This was one of several concerns and allegations raised by government officials about the Minnis administration’s National Food Distribution Task Force in recent months. However, Mrs Susan Larson, who headed the now disbanded task force, disclosed to The Tribune detailed records on the committee’s spending habits since the initiative’s start, inclusive of food purchases, trucking, shipping, stipends and other overhead costs. Still, Mr Davis has said they do not have the information needed to answer the burning questions. “We table the report today and once again, call on those with knowledge of the underlying facts to come forward. Those who have failed to provide answers and evidence still have an opportunity and an obligation to do so,” the prime minister said yesterday.
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PAGE 4, Tuesday, May 17, 2022
THE TRIBUNE
SCENES of flooding from around New Providence at the weekend. Photos: Racardo Thomas/
Govt ‘working to tackle issues over flooding’ By PAVEL BAILEY PUBLIC Works Minister Alfred Sears said officials are addressing flooding issues created over the weekend by heavy rainfall, especially in view of the 2022 Atlantic hurricane season which will soon open. After several areas of Western New Providence,
including Coral Harbour, Cable Beach and Carmichael West, experienced record levels of rainfall, concerned citizens wanted to know what government is doing to address the issue. Outside the House of Assembly yesterday, Mr Sears said his ministry had commenced drainage clearing earlier this year. “Because we started
the drainage clearing earlier this year, we’ve had in many of the areas where there was a concentration of rainwater the dissipation was quicker,” the minister said yesterday. “However, Nassau is not a grand city and therefore in the past we’ve had the construction of homes and commercial businesses in our sensitive areas, in flood plains and valleys.” Mr Sears also noted how his ministry has already designed short and medium-term plans for Pinewood Gardens in relation to drainage, adding that he worked with the community to develop these plans. “We’ve had meetings with the community in Pinewood and we will continue those meetings so that the residents will be aware of what we are doing. “The solutions include the installation of 600ft wells, which is twice the
depth of many of the existing wells as well as the installation of new technologies that will be underground.” In addressing other areas heavily affected by the weekend flooding, Mr Sears pointed out that these areas were built in low-lying
areas highly susceptible to flooding. Despite this, he wanted to assure the public that his ministry will pursue an aggressive campaign to fix the drainage systems in those flood prone zones. “The team have also designed a solution for the
East Bay Street area as well as some of the other areas like Pinewood, which are in the valley between ridges as well as some of the coastal areas such as South Beach, where you have the phenomenon of rising sea levels. “And therefore, those areas tend to be susceptible to flooding. “But the bottom line is that a very aggressive maintenance of clearing of drainage as well as drilling additional wells and introducing new technology that will help to alleviate the problems. But it’s an ongoing process and we will be holding a press conference, having community consultation so that we can track and monitor the progress being made in that regard.” He further advised residents of Killarney that had been severely affected by flooding, due to much of the area being built on reclaimed land from lakes to call 601-2235 or 457-3188 for assistance if they are still experiencing extreme flooding.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 5
SEARS: POWER CUTS NOTHING NEW FOR BAHAMIANS
PUBLIC Works Minister Alfred Sears in Parliament yesterday. Photo: Racardo Thomas/ Tribune Staff
By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net IN response to concerns of frequent power outages in recent weeks, Public Works Minister Alfred Sears said the issue is not a “novel” one for The Bahamas. With those service disruptions, consumers have raised the question as to how BPL will handle higher consumption with the hot summer months approaching. However, the minister told reporters that he should be fully briefed
within the next week in terms of what the corporation will have in place for the peak season. The minister was asked about the issue before yesterday’s House of Assembly sitting. “I’ve asked BPL to provide me, which they’re preparing now, the contingency that they’re finalising for (the) summer. So, I should be fully briefed within the next week in terms of what the corporation is doing and will have in place for the peak season of the summer,” Mr Sears said when asked yesterday
what BPL’s technocrats had to say about reliable power headed into the summer. He also said: “Well the power outages to my knowledge is not novel in The Bahamas. The government has made a commitment to address the power generation by increasing and incorporating actually the amount of renewable and the power sources in the generation of power to achieve 30 percent by 2030. That will not be achieved overnight. “As you know, we have a lot of ground to cover compared to some of our
regional counterparts, which have already integrated solar, wind, and other renewable sources of energy. “We are also not immune from the global supply chain dislocation, which is occurring due to the war in Ukraine and every country, including oil producing countries, are having challenges with accessing affordable oil, natural gas, and the price is going up. Therefore what the government (has) been doing and what BPL (has) been doing is trying to stay as nimble as possible to minimise the
shock on the Bahamian consumers,” he further explained. He said there was also another challenge in that the distribution system needed to be modernised and that would require significant funding. Nonetheless, the minister said BPL’s response to the power disruptions was to ensure that the company provides the best coverage possible in the circumstances for peak periods normally in the summer months. The minister also spoke about the price cost of the oil/gas globally, noting
that those are due to factors beyond their control having to do with the war in Ukraine as well as other factors with geo-political nature. He added the government has kept in place a hedging strategy and taken other measures to mitigate the effects of the external shocks, which are beyond the government’s control. Mr Sears went on to note that the prime minister has made it clear that the government will do everything possible to mitigate the impact, especially on vulnerable communities.
But sources familiar with the matter told The Tribune on Sunday that some of Mr Gibson’s vehicles were seized by police last week. Asked about the situation yesterday outside Parliament Mr Davis said: “Well all I’m aware of is the investigation is ongoing and they are deciding what they are going to do. It started off as an internal audit report that was presented to me. I turned it over to the Attorney General and the police investigations are
continuing. “We are different from the FNM,” Mr Davis also said. “We understand what witch-hunting is about because that’s their modus operandi. That’s not what we’re about.” For his part, Mr Sears noted the internal audit and it being referred to the police. He asserted his respect for the separation of powers. “That it is a matter which he will not get involved in
in any way with the conduct of that investigation,” he told reporters outside of the House of Assembly. “I can tell you as a former attorney general I respect the separation of powers and the independence of the judiciary should it proceed to that,” he said. “I was advised with respect to the internal audit and the Water and Sewerage, referred it to the police and I am advised that there is an investigation. I don’t know any of the details nor
the stage or any of the particulars of the investigation, where it is right now.” On Saturday, Mr Pintard said the Free National Movement was hopeful that the accusations made against Mr Gibson were false. He said: “As you are fully aware, the present Progressive Liberal Party has targeted Mr Gibson. We do not know all of the facts in this matter, but they are going out of their way to drip feed the public with a
fair amount of information suggesting a conclusion that has not been arrived at yet. So, we are waiting to hear the full set of accusations being made by the Progressive Liberal Party and Mr Gibson is a young talented Bahamian and we’re praying that anything that they’re asserting is absolutely false, but we are going to hear all of the facts. He’s a member of our family that we care about dearly and so we’ll wait and see.”
‘NO POLITICAL WITCH HUNT OVER WSC’ from page one
Assistant Commissioner of Police Leamond Deleveaux confirmed on Sunday that officers were in Long Island conducting investigations concerning the water provider. However, he would not confirm whether police had taken several of Mr Gibson’s rental vehicles into custody. Further, he would not say whether the Long Island MP was being investigated.
PAGE 6, Tuesday, May 17, 2022
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THE TRIBUNE
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Not good enough over power outages, Minister FOR weeks now, there have been fairly regular power outages in New Providence – and as summer nears, there are obvious concerns about how well our power grid will cope when air conditioning gets cranked up to full. The answers given by Public Works Minister Alfred Sears yesterday were unenlightening to say the least. Mr Sears, in fact, said that he had not been briefed as yet about what BPL is doing or what it will have in place for the summer – that briefing, he says, will come next week. It is May. Summer is around the corner. Any significant work needed to deal with any problems we face for the summer is too late. Worse, Mr Sears said: “Well, the power outages to my knowledge is not novel in The Bahamas.” Indeed, it is not. And that makes it worse that you are only now getting a briefing. You knew that the nation has a history of power issues, you are the minister whose portfolio covers the problem area and the best you can say is well, this is nothing new for Bahamians? That’s not good enough, and you should know it. Mr Sears went on to talk about a government commitment to address power generation by increasing renewable sources of energy to achieve 30 percent power generation by 2030. As admirable as that is, it has absolutely nothing to do with our current issues. The problem is down to one of two areas, broadly. Either we are not generating enough power, despite new engines coming online under the last administration that was supposed to deal with that issue, or the distribution network has problems. Simply put, not enough power being generated or problems with the power grid to get it to consumers. Which is it? Well, Mr Sears did not say. He did acknowledge that the distribution system needed to be modernised and that would need significant funding – but did not identify if that is the issue with recent power outages. In short, no explanation for the cause of the problems and effectively a shrug to Bahamians to say well it’s nothing new. Does that seem good enough to you? Those not fortunate enough to have generators have already had to swelter through hot days or, worse, dark nights when the power has gone out. That’s not even taking into account the problems children have if they’re trying to get their homework done when the power goes out or if they are trying to take part in virtual learning. As for those fortunate enough to have a generator, well, those rising gas prices are something of a disincentive to turn it on right now.
After a series of power cuts, the minister should have straight answers at his fingertips to explain to people what was the cause, what needed to be done to prevent any further outages, and the plan to carry out that work, complete with the price tag attached. That should not be too hard, nor should it be too much to ask. Instead, Mr Sears has given us no answers, no plan of action, and no expectation that we will see things improve. One of the top complaints from businesses and one of the top concerns from would-be investors is our infrastructure and our unreliable power supply. Other nations around the world can depend on their power to stay on under most circumstances – for goodness’ sake, why should we settle for second best? So what are the answers? Because yesterday we did not get any.
Food programme Speaking of not getting any answers, Prime Minister Philip “Brave” Davis renewed his attack on agencies involved in distributing food to Bahamian families during the height of the COVID-19 pandemic yesterday. He made some big claims - $10m that had “vanished”, for example. But on close reading, there are a lot of specifics missing. The 138-page audit itself has produced no evidence of corruption, fraud or misappropriation of funds – and the suggestion that NGOs have produced some documentation but not the right kind raises some scepticism. This is especially so given the recent back-and-forth with the National Food Distribution Task Force in which it was claimed there were no documents, only for the organiser to show The Tribune a whole range of documents that had been sent to the government – and which were then presented again. Mr Davis called for answers, and said for now there are no conclusions – and just as with the accusations of a lack of documentation made previously, so now is the time to find out if the claims hold up or if documentation is indeed available to detail costs and distribution information. The programme was a huge one, created at short notice to feed people suddenly left without jobs and without a prospect of getting another one to feed themselves with the tourism market shut down – and it would probably be surprising if there were areas that could not have been done better. But let’s get the full picture. After that, if there has been any misappropriation, then act accordingly. We all want what is the best use of tax funds. But equally if groups are exonerated, there will be some who are owed an apology.
A LUNAR eclipse begins as the full moon sets over the hills of the Taunus mountains near Frankfurt, Germany, yesterday. Photo: Michael Probst/AP
Flooding shows need for insurance EDITOR, The Tribune.
WHY does insurance coverage matter in this new Climate Change era? Unfortunately, flooding like what we had this weekend will be the norm rather than the exception. My useful advice to you is to make sure to take the opportunity to call anyone of the insurance companies within The Bahamas if you need any hurricane insurance (Life, Home, Auto, Marine, Business, Aviation, etc...). Most experts predict that this upcoming hurricane season will be another active one. I know that hurricane and homeowners’ insurance are expensive, but I beg you to consider the alternative. I am an author of 15 books on hurricanes (most of them on hurricanes impacting The Bahamas), and I have interviewed thousands of Bahamian victims affected by the various hurricanes over the years. I can’t tell you how much it breaks my heart to interview them about their experiences with the different storms and looking at the totally demolished home or business or a wrecked boat or destroyed vehicle, and when I asked them if they have any insurance to bring their lives back to some degree of
LETTERS letters@tribunemedia.net normalcy and they many times tell me no. Sometimes their $200,000 to $300,000 home is destroyed by the hurricane, and often they tell me that they will have to rebuild out of their pockets. The solution to this problem is hurricane insurance, and when you take out insurance with any of the companies, make sure you take out some flood insurance. No one will tell you this, but the Climate Change era is no longer on the horizon; but it is here and is staring us directly in the face. Today, the water table is much higher to the surface than it used to be like 20 to 30 years ago, and that means it takes much less water to flood the ground and the surface than years ago. With the rise of the sea level due to Climate Change, the water table is much higher, so it takes much less rainfall to saturate the ground and cause severe flooding. As a professional meteorologist, I have personally seen more areas with severe flooding than, say, 15 to 20 years ago. I know many people blame the different governments
over the years for not cleaning the drains on a timely basis. Sadly, in most cases, that has not been the case because I saw under both governments, they cleaned the drains and the following week, we had heavy rainfall in the same location where the drains were previously cleaned, and the areas were still flooded. I think there are other contributing factors like cutting down most of the hills and trees for the sake of development, but that is another topic for another time. With most weather experts predicting an above-average hurricane season, now is the ideal time to take out that insurance to protect yourself, your family and your personal and business properties should we experience another destructive hurricane. Gone are the days when the government and Bahamian public at large could ignore the weather, hurricanes like Hurricane Dorian and other ‘freak’ weather events like what occurred over the weekend as once-in-a-lifetime events, but they are no longer the exception but now the ‘new’ norm. WAYNE NEELY Nassau, May 16, 2022.
Are private pension funds sustainable? EDITOR, The Tribune. AS THE debates had been about the lack of funds for Bahamians at the National Insurance Board and it is obvious it will run out because the lack of businesses paying employees funds at the National Insurance Board. This raises another important question what is the status of all other Pension Funds for their employees, do they have sufficient funds to pay employees their pension funds? It was some time ago when City Market made its employees redundant and the employees went to get there pension funds and it was discovered there was
no money in the pension funds because of alleged mismanagement. This made me put ads in The Tribune, Nassau Guardian, The Punch. Also doing radio ads on Love ‘97 expressing the need to regulate and audit Pension Funds in the Bahamas to insure that employees will be protected from Pension Funds mismanagement off pension funds to protect employees pension funds when retiring from their jobs. I had spoken by telephone and personally shared to Prime Minister Perry Christie who was at the time Leader of the Opposition PLP Party the need to protect employees pension funds from
mismanagement. In 2012, the Employees Pension Fund Protection Act became law, which gives them the authority to regulate, overview and audit all Pension Funds in The Bahamas. I believe that it is most important to now audit Pension funds in The Bahamas to see if there are Pension Funds for employees when they retired. This is most needed to know now that we are aware of the problem with National Insurance Board and many Bahamians are nearing retirement. PEDRO SMITH Nassau, May 14, 2022.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 7
AMBASSADOR PRESENTS HIS CREDENTIALS
DR ELLISTON Rahming, Bahamas ambassador to Cuba, presented his letters to the Cuban president last week. In remarks during the presentation to Miguel Mario Diaz–Canel Bermudez at the Presidential Palace in Havana on Thursday, Mr Rahming spoke of 48 years of cordial relations between the two countries. He also took special note of Cuba’s vaccination development programme and thanked the Cuban government for its ongoing assistance in providing healthcare professionals to work in The Bahamas’ public health system. Mr Rahming reaffirmed The Bahamas’ support for lifting the economic embargo imposed against Cuba. Cuba has a two-tier credential presentation protocol. Incoming ambassadors present a copy of their letters of credence in a private ceremony at the Ministry of Foreign Affairs, as Mr Rahming did a month ago and every quarter the president of Cuba invites newly appointed ambassadors to a ceremony at the Presidential Palace. Ambassador Rahming said while in Cuba he will seek to forge new economic links between the two countries and maximise bilateral relationships with ambassadors from other countries to attract new investments for The Bahamas.
BAHAMAS Ambassador to Cuba Dr Elliston Rahming presenting his diplomatic credentials to Cuban President Miguel Mario Diaz Canel-Bermudez (centre) at the Presidential Palace in Havana on Thursday,
MAN ACCUSED OF RAPE AND ATTEMPTED ROBBERY By PAVEL BAILEY
A MAN was charged in a Magistrate’s Court yesterday with several offences, including rape and armed robbery. Christopher Forbes, 25, appeared before Assistant Chief Magistrate Carolyn Vogt-Evans to face a charge of rape, causing wounds, housebreaking and two separate counts of armed robbery On May 6 in New Providence, Forbes, armed with a cutlass, is accused of having had sexual intercourse with a woman without her consent. He is also charged with stealing her $1,000 Samsung Galaxy S22 smartphone, a Samsung J4 plus phone
worth $200 and her AirPods valued at $50. He is further accused of breaking into Shantell Gardner’s home in the Carmichael Road area on May 8. There he is alleged to have wounded Ms Gardner before stealing $34 from her armed with a shard of glass. In court, due to the serious nature of his offences, he was not required to enter a plea, but was informed that his case would proceed by way of a Voluntary Bill of Indictment (VBI). Forbes was further informed that his trial would be heard in the Supreme Court, where he can also make a formal bail application. Until bail is granted, Forbes will be sent back to the Bahamas
Department of Correctional Services (BDCS). Before being escorted from the courtroom Forbes told the court that he has had a violent history since his teenage years. He then said that prison has made his life worse, calling it “chaos” there. Speaking directly to the magistrate, Forbes said that he is tired of living this way - hurting people and begged Magistrate Vogt-Evans for help. In response, the magistrate told him that if he wanted help, he could start by helping himself, finding God and following the law to function in a civilized society. Forbes is expected in court on July 27 for service of his VBI.
ACCUSED OF SEX ATTACK ON GIRL, 11 By PAVEL BAILEY A MAN was remanded to the Bahamas Department of Correctional Services in a Magistrate’s Court yesterday in connection with sexually assaulting an 11-year-old girl. Patrick Poitier, 28, stood before Assistant
Chief Magistrate Carolyn Vogt-Evans on a charge of unlawful sexual intercourse after assaulting the child on May 8 in New Providence. In court, the accused was informed that due to the severe nature of his offence he would not be required to enter a plea and that his
case would proceed by way of Voluntary Bill of Indictment (VBI). Poitier was also told that he could apply to the Supreme Court for bail, but until that time he would be sent back to BDCS. The accused’s next court date is set for July 27 for service of his VBI.
MURDER SUSPECT FACES COURT By PAVEL BAILEY
A MAN, charged with the murder of Enrico Deal, was remanded to prison by a Magistrate’s Court yesterday. Brenden Marcellus, 20, appeared before Senior Magistrate Samuel McKinney on a single count of murder.
On May 12 at Butler’s Way, off Carmichael Road, Marcellus is alleged to have shot and killed Deal. Due to the grave nature of the offence the accused was not required to enter a plea in court yesterday. He was informed that his case would proceed by way of a Voluntary Bill of Indictment (VBI).
Marcellus was further informed that his case will be heard before the Supreme Court and that he could make an official bail application there. Until bail is granted to him, he will be sent back to the Bahamas Department of Correctional Services. His VBI is expected to be served in court on August 3.
PAGE 8, Tuesday, May 17, 2022
THE TRIBUNE
Inspiring others helps golf caddy Taneka Mackey stay on course MEETING Taneka Mackey is an eye opener. She seems to shatter stereotypes all around her. You may think that because she’s a golfer and a professional caddy that she might be somewhat reserved. But Taneka is very down-to-earth with that raw, pure island girl quality in her mannerisms and lingo. You Mackey. may think that because she THOMAS and Taneka has made news all over the world, that she has her sights set on lands far away. But Taneka has a plan for the future that will bring her back to her roots in The Bahamas, helping to shape future leaders. You may think that because she travels so much, she doesn’t have time to settle down. But, Taneka is happily married with a husband that counts down the days until his wife is back in his arms after another successful LPGA tournament. You may think that being an athlete and an ambassador for her country means she’s always at the top of her game. But Taneka battles multiple sclerosis and requires consistent treatment. You may think that with a professional caddy gig, that Taneka is raking in big bucks. But it costs a lot to make it happen, and she’s doing her part to represent the country. You may think that a super cool young lady who rubs shoulders with golf stars doesn’t have time for faith. But her Christian walk is her greatest profession and with it, she’s prepared to take on the world. Taneka was born and raised in Nassau, Bahamas, to parents Juan and Kris Sandiford. For the first two years of her life, she lived in the Bain and Grants Town area, before her family moved to Centerville. When she was 13, they moved into the Fox Hill community, giving her a well rounded experience in some of the cultural areas of New Providence Island. Sports has always been in her blood. Juan, a Nassau native, is a retired teaching professional. Her mother, who hails from Iowa, USA, ran hurdles in high school and was a very good softball player. Her older brother Terrell and her younger brother Garrett loved playing sports growing up. She is only two years younger than Terrell, so anything that TANEKA Mackey has found success in golf. he did as a boy, she tagged “Golf has shown me that along. At an early age, they the United States, Canada, England, Scotland, Thailand, you can hit the perfect shot both swam competitively. When he wanted to try and Singapore. Amy will be and get a bad bounce or soccer, she went foot-to-foot 30 on July 10. Taneka will break just like life,” Taneka be 28 on June 1. They have said. You can do everything behind him. “Golf came along when I found a formula for success right but someone else just that keeps them both focused happens to be better than was ten,” Taneka recalls. you that day. It also shows “My mom looked through on their goals. “Caddying is an amazing me that every hole is like a old newspapers when we new day because it’s a clean were on vacation and saw an job,” she tells me. “It is rewarding, fun, and start.” ad about the Bahamas Golf Taneka doesn’t get to Federation. In six months you get to travel the world. I made the junior national The most important thing is play a game of golf for herteam and travelled to the you have to be strong physi- self very often, though. It’s Dominican Republic. Travel- cally and mentally. It’s long hard since she’s on the road ling is what kept me in golf at days and lonely nights. So 27 weeks out of the year, this is when I lean on God and the sport is “extremely an early age.” In high school, Taneka fell and spend a lot of time read- expensive” in The Bahamas. The cost of the sport is one in love with basketball. After ing the Bible. It’s a family even caddies have to bear: graduating from St. John’s away from home.” I wanted to know what it “It’s a commission-based College, she went off to Pensacola Christian College and takes to be a good caddie. job; so I can go five months continued to play basketball. “There are three rules: without making money and But golf was always show up, shut up, keep up,” then go two months making there, and has been paving Taneka said. good money. But I also pay uncharted roads for her even “You have to be on time. If for all of my expenses - airto this day. Taneka ended up you are one minute late, your fare, hotel, rental car, food, receiving a full golf scholar- player can miss their starting while also paying my mediship to Redlands Community time and get disqualified. So cal expenses. Aliv helps me, College. She then continued you must be on time. If you they pay for my cell phone, her education at Chicago talk too much, you can throw so I’m extremely grateful for State University where she a player off and confuse that.” received another full scholar- them. You have to be affirmWithout more sponsorship to play golf there. ing and confident in your ship, Taneka may not be able She holds an Associate’s decisions.” to sustain the cost of a job degree in both Elementary “It calls for walking ten which not only sheds light Pre-Education and Psy- miles a day and carrying a on her, but her country, as chology. She also holds a 45-pound bag. You can’t be she is making history in the Bachelor’s degree in Busi- far behind or make your sport of golf. She follows in ness Management. player wait on you. Every the footsteps of leaders like “Unsure what I wanted to player has their own style, Agatha Delancy, National do in 2017, I went back to so you adapt to what they Sports Hall of Fame inductee Redlands and became the want. But you have to know for golf and Georgette Rolle, assistant golf coach and this how to get yardages quickly, LPGA pro and founder of is when I got my caddying know where the wind is 14 Clubs Golf Academy. My breakthrough,” she says of coming from, and how far son, Ras Elijah Delancy, has her time after university. “During the Christmas the player hits each club. But played golf at the national break I caddied at the Pure most importantly, you have and collegiate level and Silk Bahamas Classic and got to know how to bring your would love more time on the randomly paired with Amy player down-to-earth if they green, but the costs can set Olson. We hit it off from get too high, and lift them up parameters on young golfers who would like more time on the jump and after the colle- if they get too low.” I saw these virtues in the green. giate season ended, I worked Taneka is the first Bahafor Amy for five events. In action in a photo Taneka December of 2017, I received sent me of her and Amy on mian and first black female to a text from Amy asking if I the course. It was the last caddy full time on the LPGA would work for her again in hole of the final round at the Tour. Her future plans The Bahamas and then she 2020 US Open. Amy’s father- include returning to The said... how would you like to in-law had just died the day Bahamas to run her parents’ go to Australia? Once again, before. As Amy leaned in to school, 1 on One Pre-school my love for travelling made her caddy and friend for sup- and 2 by Two Academy. She me extremely interested in port, Taneka quickly prayed then wants to expand it to an this job. Now, five years later, for her and comforted her, elementary school with stateI am still working with Amy.” letting her know that she was of-the-art sporting facilities. “My husband (Thomas Taneka travels with Amy doing a great job and she was to over 18 countries a year. proud of her. Amy finished Mackey) works here in The They have travelled all over second. Bahamas; so what I miss
A MOMENT of prayer: After a shocking death in the family the day before, Amy Olson, right, leans on her caddie and friend Taneka Mackey, left, for a moment of prayer during the last hole of the final round at the 2020 US Open.
TANEKA, standing, always caddys for Amy Olson, professional golfer, kneeling, with the Bahamian flag proudly displayed on her gear.
TANEKA MACKEY, left, walks ten miles a day with a 45 pound bag when on tour caddying for Amy Olson, wearing the Bahamian flag and a big smile. most about The Bahamas is him,” she said. “My mom and dad live here also. The Bahamas is like my happy place. And when I come home, I get to help out at my parents’ pre-school. So I get to inspire and talk to the next generation of Bahamians. The school is a way to give back and give kids a great foundation. Being involved in so many sports, I didn’t have time to get in trouble. Kids today have too much free time. Plus, sports teaches discipline.” Four years ago, Taneka found herself facing one of her toughest battles. She was home in Nassau, out for a run when she had a seizure. She was diagnosed with multiple sclerosis, a chronic disease affecting the central nervous system. Doctors found more than 20 lesions in her brain and two on her spine. “I have learned how to listen to my body extremely well,” she told me. “I can’t overheat, and rest and no stress are key. I do a seven-hour infusion every six months. I have to do an MRI of my brain and spine every year. I’m still on seizure medicine and will most likely be on it for the next five years for sure, but it could be the rest of my life. I take vitamin D3, probiotics, fish oil and I take seizure medicine twice a day. I have to eat lots of fruits
TANEKA Mackey (nee Sandifo rd) Sandiford and brothers Terrell with her parents Juan and Kris and Garrett Sandiford. and veggies - kale is really good. I have to meet with a neurologist twice a year and a doctor for epilepsy once a year. I also do blood work twice a year - all just for MS.” Taneka is treated in Iowa where most of her mother’s family and her older brother Terrell lives, so she makes the most of her trips. When she considers her time on the road and the amount of pay she takes home, Taneka knows it can be a tough decision to keep caddying. “I continue to do this job yes I love it, but also I know I am inspiring many people,” she said.
“Being the first Bahamian and first black female, while battling multiple sclerosis - which has no cure. MS in itself can be very unpredictable. It can be from a person like me with no symptoms to being in a wheelchair and not able to see. It’s inspiring others that honestly keeps me going and I know God has me here for a reason.” “That’s why when I’m done, I’m coming home to operate a pre-school and open up an elementary school.. not for the money, or because it will be easy. It’s about helping the next person.”
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 9
A fine British tradition THE PETER YOUNG COLUMN AS always, it was an impressive display of pomp and circumstance. In the grand surroundings of the House of Lords chamber in the Palace of Westminster in London, the State Opening of Parliament took place last week to mark the ceremonial start of the parliamentary year. The event takes place on the first day of a parliamentary session which is normally in May or June but can occur at any time of year depending on the timing of General Elections. The Monarch formally opens Parliament and outlines the government’s proposed policies and legislation for the coming year. So the key part of the ceremony is The Queen’s Speech which provides the government of the day an opportunity to set out its agenda and highlight its priorities for the months ahead. But there was a difference this year. On doctors’ orders -- because of what Buckingham Palace described as “episodic mobility” issues that were troubling her -The Queen herself missed the ceremony. During her 70-year reign she has only done that twice, and both times because of pregnancy. Instead, this time her 73-year-old son, Prince Charles, stepped in and read out the speech on her behalf. According to royal commentators and body language experts, an emotional Charles was “reflective and nervous”, with slightly shaking hands betraying his nerves as he read the speech for the first time - a significant constitutional moment that some suggest is indicative of a “de facto semi-regency”. A constitutional monarch
QUEEN Elizabeth II departs after attending the “A Gallop Through History” Platinum Jubilee celebration at the Royal Windsor Horse Show at Windsor Castle in Windsor, England, on Sunday. Photo: Steve Parsons/Pool via AP in a parliamentary democracy is a hereditary symbolic head of state who mainly performs representative and civic duties but does not exercise executive or policymaking powers. While, on occasion, the monarch may set the pace unofficially or even indirectly assert a limited influence on particular issues, political power is, of course, in the hands of the elected government of the day. Last week, The Queen’s Speech, written by Prime Minister Boris Johnson and his colleagues, described their proposed policies and new laws for the 2022-23 session. It was a bid by him
to reset his premiership through a new legislative package mainly to benefit families and businesses across the country amid the cost of living crisis. Anti-royalist critics maintain that the whole process of such a ceremonial opening, with the sovereign reading
‘In her first public appearance a few days after missing the state opening, The Queen was clapped and cheered with a standing ovation by the crowd at the Royal Windsor Horse Show which – reflecting her lifelong passion for horses - is said to be one of her favourite events of the year.’
out a speech written by politicians and referring to “my government”, is an absurd fiction, since the key to the success of the monarchy is to stay out of politics. But others say that the nation’s constitutional arrangements are important symbolically as a sternly visible
reminder to politicians that they serve under a constitutional monarch - and at the will of the people to whom, in a modern democracy, they are wholly accountable. There is a general belief that one effect of this is to help curb individual pretensions to excessive power and to discourage politicians from getting too big for their boots in their day-to-day activities. It thus serves to nip in the bud possible notions of authoritarianism. Against this background – and despite having written about Her Majesty several times recently in this column – it is hard to refrain from mentioning
NEW MOVES IN UK TO PROTECT FREE SPEECH AMIDST the plethora of detail about new policies and legislation contained in The Queen’s Speech, one important aspect that has been little reported is the Conservative government’s plans for a major shake-up of the UK’s human rights laws. It seems that under landmark legislation – with a Bill to be published as early as next month – the former Labour government’s controversial Human Rights Act of 1998, which incorporates into UK domestic law the rights and liberties enshrined in the European Convention on Human Rights (ECHR), could be ripped up and replaced with a British Bill of Rights. The Justice Secretary in Boris Johnson’s cabinet, Dominic Raab, is quoted as saying that the parameters of free speech and democratic debate have been “whittled away by wokery and political correctness” and the new legislation will give overriding importance to the principles of free speech – in particular, protecting the ability of the press to expose corruption as well as allowing individuals to speak their minds. As he says, free speech will be made a “legal trump card” – and, since freedom of
expression is a vital element of any democracy, this might have wider interest beyond Britain’s shores. The Bill will also contain measures to prevent foreign criminals from dodging deportation on the spurious grounds of a right to family life in the UK. Another important element of the proposed new legislation is that, although the UK still ad-heres to its current commitments to human rights conventions like the ECHR, it will set out the way in which rulings by Britain’s top judges will take precedence over those from the European Court of Human Rights. The ECHR is separate from the EU, but perhaps a move like scrapping the Human Rights Act should come as no surprise following Britain’s departure from the EU. It seems to be connected to the broader issue of the primacy of EU law over the domestic statutes of its member states and the extent to which they can be forced to follow EU law while still protecting their sovereignty and capacity for independent decision-making. EU regulations and decisions have to be incorporated by EU member states into their
domestic legislation and national authorities have to ensure they are correctly applied. So, following Britain’s departure from the EU, all this has to be reversed. But the debate – not least now in Brussels’ dealings with Poland – seems to be becoming more fraught. In the case of human rights, the issue appears to boil down to control. Those opposed to change condemn repeal of the UK’s Human Rights Act as a “blatant, unashamed power grab” -- with Amnesty International saying it plays a vital role in ensuring stability, justice and protection of individuals and should not be replaced by a watered-down substitute. However, the government insists its proposals will strengthen Britain’s human rights such as freedom of expression while the country stays a party to the ECHR and that they will add a dose of common sense and restore Parliament’s proper role as the ultimate decision-maker on laws impacting the UK’s population. The government argues that a Bill of Rights is long overdue – and one can only hope all will become clearer with publication of the draft legislation that is now eagerly awaited.
today the most recent example of her continuing popularity amongst the British public generally. In her first public appearance a few days after missing the state opening, The Queen was clapped and cheered with a standing ovation by the crowd at the Royal Windsor Horse Show which – reflecting her lifelong passion for horses - is said to be one of her favourite events of the year. Despite her mobility problems and having had to beat off a bout of COVID, she was back on her feet and looking in good health and spirits. This horse show marked the start of her official Platinum Jubilee celebrations and - relaxed, smiling and laughing - she appeared to be as pleased as punch to be there. She also attended the closing event on Sunday evening of an equestrian extravaganza in the grounds of Windsor Castle and she was heartily applauded by the spectators. Unlike certain other members of the Royal Family, she remains extremely popular on a personal basis, and long may that continue. Many people will surely now be looking forward to her official birthday weekend celebrations at the beginning of June. Interestingly, it was reported in the UK press that someone was overheard at the Windsor horse show saying “I’m not a fan of the Royals, but The Queen is a real class act” – and, although some have said she has become frail recently, the consensus is that she looks amazing for her age of ninety-six.
SWEDEN AND FINLAND INTO THE NATO FOLD DESPITE the all-embracing blanket international media coverage of the war in Ukraine, there seems to have been little reporting this side of the Atlantic of Britain’s initiative in negotiating bilateral military assistance agreements with Sweden and Finland. While NATO as an organisation has taken on a new lease of life in acting with considerable effect in its united response to Russia’s invasion of Ukraine in February, Prime Minister Boris Johnson has also acted unilaterally in various ways, not least in his close working relationship with President Zelensky which included his brief visit to Kyiv.
Now, he has stepped forward again. Last week, he made quick visits to Stockholm and Helsinki where he signed security pacts with each country, promising to support them in any way they might need against potential Russian aggression. If either country faced an attack, they could call on Britain for help which could include military support. He would not be drawn on the specific nature of such military assistance, but both countries have also now separately applied to join NATO which Putin has called publicly a mistake and has warned of “farreaching consequences”. Their membership needs unanimous approval and
Turkey has already voiced misgivings about the sheltering of Kurdish militants. But their applications will apparently be fast tracked -- and many other countries have considered for some time that NATO membership for both countries was inevitable at some point. In 1939, at the beginning of the Second World War, Finland was, of course, invaded by the then Soviet Union and, despite putting up strong resistance, it was forced to cede some territory. The country later assisted Germany in the latter’s invasion of the USSR. According to historians, after the end of the war in 1945 most Finns thought that, given the vulnerability
of its eastern 800-mile border with the Soviet Union, it was essential as a protection against Soviet aggression to maintain a balancing act between East and West and so it remained neutral during the Cold War. But the country joined the EU in 1995, though there was little public support for NATO membership at that time. Until now, Finland judged that Russia had been taking calculated risks – for example, annexing Crimea in 2014 and testing the West’s reaction. However, the invasion of Ukraine had shown that henceforward there were no limitations to its aggression. So, with huge public support, it was time
for Finland to take preemptive action to defend itself by joining NATO. Meanwhile, at the Victory Day parade in Moscow on May 9 Putin did not repeat his threat to use nuclear weapons, but the danger remains as Russian forces suffer further setbacks militarily in Ukraine -- for example, being forced to withdraw from the country’s second city of Kharkiv. New evidence is also emerging of alleged war crimes. Overall, some commentators are suggesting that Putin now needs a face-saving formula to end this war. That requires further analysis. But, with Sweden and Finland now on the brink of NATO membership, how
supremely ironic it is that the expansion and military strengthening of NATO, which Putin has been railing against and been trying to prevent, has happened as a direct consequence of his unnecessary, misguided, barbaric and ill-fated invasion of Ukraine. But, to end on a lighter and happier note, how good it is to record that the morale of all Ukrainians will surely have been boosted over the weekend by news that the country’s entry in the Eurovision Song Contest took first place in this famously popular competition in Europe -- and President Zelensky says maybe Ukraine can host the event next year.
PAGE 10, Tuesday, May 17, 2022
SWEDEN SEEKS MEMBERSHIP OF NATO IN HUGE SHIFT
SWEDEN yesterday decided to join neighbouring Finland in seeking NATO membership, ending more than two centuries of military nonalignment in a historic shift prompted by Russia’s invasion of Ukraine. Swedish Prime Minister Magdalena Andersson warned that the Nordic country would be in a “vulnerable position” during the application period and urged her fellow citizens to brace themselves for the Russian response. “Russia has said that that it will take countermeasures if we join NATO,” she said. “We cannot rule out that Sweden will be exposed to, for instance, disinformation and attempts to intimidate and divide us.” Sweden’s move came a day after the country’s governing Social Democratic party endorsed a plan for Sweden to join the trans-Atlantic alliance and Finland’s government announced that it would seek to join NATO. Moscow has repeatedly warned Finland, which shares a 830-mile border with Russia, and Sweden of repercussions should they pursue NATO membership. But Russian President Vladimir Putin on Monday seemed to downplay the significance of their move. Speaking to a Russianled military alliance of six ex-Soviet states, Putin said Moscow “does not have a problem” with Sweden or Finland applying for NATO membership, but that “the expansion of military infrastructure onto this territory will, of course, give rise to our reaction in response”.
BIDEN TO SEND TROOPS TO SOMALIA PRESIDENT Joe Biden signed an order yesterday to redeploy hundreds of US troops to Somalia to counter the Islamic extremist rebel group al-Shabab, an effort that American military leaders said had been hampered by President Donald Trump’s late-term decision to withdraw forces from the country. US troops will be repositioned from elsewhere in Africa to train and provide other support to Somali forces in their fight against al-Shabab, which is considered the largest and wealthiest affiliate of the al-Qaida extremist organisation. “Our forces are not now, nor will they be, directly engaged in combat operations,” said Pentagon press secretary John Kirby. “The purpose here is to enable a more effective fight against al-Shabab by local forces.” It’s a reminder that the US remains engaged in the long fight against Islamic extremists around the world, even if the effort has been eclipsed by the war in Ukraine and other matters.
BABY FORMULA PLANT TO REOPEN AMID SHORTAGE UNDER fire from parents and politicians, President Joe Biden’s administration yesterday is expected to announce an agreement to reopen the largest domestic manufacturing plant of infant formula and to ease import rules to allow supplies in from overseas, amid a nationwide shortage spurred by the Michigan plant’s shutdown earlier this year over safety issues. A consent decree between the producer, Abbott, and the Food and Drug Administration that would pave the way for reopening the plant is “forthcoming,” said Brian Deese, the director of the White House’s National Economic Council. He added the agency would also take steps to allow more foreign imports into the US to address the urgent supply constraints.
US COVID death toll reaches one million
THE TRIBUNE
DR Mher Onanyan takes a short break while waiting for an X-ray of a COVID-19 patient’s lungs at Providence Holy Cross Medical Center in the Mission Hills section of Los Angeles, in December, 2020. The US death toll from COVID-19 has hit one million. Photo: Jae C Hong/AP THE US death toll from COVID-19 hit one million yesterday, a once-unimaginable figure that only hints at the multitudes of loved ones and friends staggered by grief and frustration. The confirmed number of dead is equivalent to a 9/11 attack every day for 336 days. It is roughly equal to how many Americans died in the Civil War and World War II combined. It’s as if Boston and Pittsburgh were wiped out. “It is hard to imagine a million people plucked from this earth,” said Jennifer Nuzzo, who leads a new pandemic center at the Brown University School of Public Health in Providence, Rhode Island. “It’s still happening and we are letting it happen.” Some of those left behind say they cannot return to normal. They replay their loved ones’ voicemail messages. Or watch old videos to see them dance. When other people say they are done with the virus, they bristle with anger or ache in silence. “‘Normal.’ I hate that word,” said Julie Wallace, 55, of Elyria, Ohio, who lost her husband to COVID-19 in 2020. “All of us never get to go back to normal.” Three out of every four deaths were people 65 and older. More men died than women. White people made up most of the deaths overall. But Black, Hispanic and Native American people have been roughly twice as likely to die from COVID-19 as their white counterparts. Most deaths happened in urban
areas, but rural places — where opposition to masks and vaccinations tends to run high — paid a heavy price at times. The death toll less than 2 1/2 years into the outbreak is based on death certificate data compiled by the Centers for Disease Control and Prevention’s National Center for Health Statistics. But the real number of lives lost to COVID19, either directly or indirectly, as a result the disruption of the health care system in the world’s richest country, is believed to be far higher. The US has the highest reported COVID-19 death toll of any country, though health experts have long suspected that the real number of deaths in places such as India, Brazil and Russia is higher than the official figures. The milestone comes more than three months after the US reached 900,000 dead. The pace has slowed since a harrowing winter surge fueled by the omicron variant. The US is averaging about 300 COVID-19 deaths per day, compared with a peak of about 3,400 a day in January 2021. New cases are on the rise again, climbing more than 60 percent in the past two weeks to an average of about 86,000 a day — still well below the all-time high of over 800,000, reached when the omicron variant was raging during the winter. The largest bell at Washington National Cathedral in the nation’s capital tolled 1,000 times a week ago, once for every 1,000 deaths. President Joe Biden on Thursday ordered flags lowered to half-staff
and called each life “an irreplaceable loss”. “As a nation, we must not grow numb to such sorrow,” he said in a statement. “To heal, we must remember.” More than half the deaths occurred since vaccines became available in December of 2020. Two-thirds of Americans are fully vaccinated, and nearly half of them have had at least one booster dose. But demand for the vaccine has plummeted, and the campaign to put shots in arms has been plagued by misinformation, distrust and political polarisation. Unvaccinated people have a ten times greater risk of dying of COVID-19 than the fully vaccinated, according to the CDC. “To me, that is what is just so particularly heartbreaking,” Nuzzo said. Vaccines are safe and greatly reduce the likelihood of severe illness, she said. They “largely take the possibility of death off the table”. Angelina Proia, 36, of New York, lost her father to COVID-19 in April 2020. She runs a support group for grieving families on Facebook and has seen it divided over vaccinations. She has booted people from the group for spreading misinformation. “I don’t want to hear conspiracy theories. I don’t want to hear antiscience,” said Proia, who wishes her father could have been vaccinated. Sara Atkins, 42, of Wynnewood, Pennsylvania, channels her grief into fighting for global vaccination and better access to health care to honor her father,
Andy Rotman-Zaid, who died of COVID-19 in December 2020. “My father gave me marching orders to end it and make sure it doesn’t happen again,” Atkins said of the pandemic. “He told me, ‘Politicise the hell out of my death if I die of this.’” Julie Wallace and her husband, Lewis Dunlap, had cellphone numbers one digit apart. She continues paying to keep his number. She calls it just to hear his voice. “It’s just so important to hear that sometimes,” she said. “It gives you a little bit of reassurance while also tearing your heart out.” Some have offered solace in poetry. In Philadelphia, poet and social worker Trapeta Mayson, created a 24-hour poetry hotline called Healing Verse. Traffic to the Academy of American Poets’ poets.org website rose during the pandemic. Brian Sonia-Wallace, poet laureate of West Hollywood, California, has traveled the country writing poems for hire. He imagines a memorial of a million poems, written by people who don’t normally write poetry. They would talk to those who are grieving and listen for points of connection. “What we need as a nation is empathy,” said Tanya Alves, 35, of Weston, Florida, who lost her 24-year-old sister to COVID-19 in October. “Over two years into the pandemic, with all the cases and lives lost, we should be more compassionate and respectful when talking about COVID. Thousands of families changed forever. This virus is not just a cold.”
‘HATE WAS MOTIVE FOR CALIFORNIA CHURCH ATTACK’ LAGUNA WOODS, California Associated Press
A GUNMAN in deadly attack at California church was Chinese immigrant motivated by hate for Taiwanese people, authorities said. The shooting killed Dr John Cheng, 52, and five others were wounded in an attack at a Southern California church, authorities said at a news conference yesterday. Orange County Sheriff Don Barnes said the motive of the shooting was a grievance between the shooter, identified as a Chinese immigrant, and the Taiwanese community. China claims Taiwan is a part of its national territory and has not ruled out force to bring the island under its rule. Barnes said the suspect drove to the Orange County church, where he was not a regular attendee, secured the doors and started shooting. The gunman had placed 4 Molotov cocktail-like devices inside the church, the sheriff said. Barnes said Cheng, survived by a wife and two children, heroically charged at the shooter and attempted to disarm him, allowing others to intervene. A pastor hit the gunman on the head with a chair and parishioners hog-tied him with electrical cords. But Barnes said Cheng was hit by gunshots. “Understanding that there was elderly everywhere and they couldn’t get out of the premises because the doors had been chained .. he took it upon himself to charge across the room and to do everything he could to disable the assailant,” said Orange County District Attorney Todd Spitzer. The Orange County Sheriff’s
AN ORANGE County Sheriff’s Department officer guards the grounds at Geneva Presbyterian Church in Laguna Woods, California, on Sunday. Photo: Damian Dovarganes/AP Department tweeted that David and saw others screaming, running Chou, 68, of Las Vegas has been and ducking under tables. “I knew someone was shooting,” booked on one count of murder and five counts of attempted murder. he said. “I was very, very scared. I The suspect lawfully purchased the ran out the kitchen door to call 911.” Four of the five people wounded two 9mm pistols in Las Vegas, said Stephen Galloway, ATF Los Ange- suffered critical gunshot injuries. les assistant special agent in charge. Orange County Fire Authority offiJerry Chen had just stepped into cial Michael Contreras said two of the kitchen of the church’s fellow- the wounded were in good condiship hall around 1.30pm on Sunday tion, two were in stable condition and the status of the fifth patient when he heard the gunshots. Chen, 72, a longtime member of was undetermined. “I will tell you that evil was in the Irvine Taiwanese Presbyterian Church, which worships at Geneva that church yesterday,” Spitzer said. There is a lot of evidence that Presbyterian Church in Laguna Woods, peeked around the corner the suspect “had an absolute bias
against the Taiwanese people, its country, as a Chinese or mainland national,” Spitzer said. The suspect left notes in his vehicle concerning “his hatred of the Taiwanese people,” the sheriff said. Jail records show Chou is being held on $1m bail. It’s not immediately known whether he has a lawyer who can speak on his behalf. The church was cordoned off yesterday with yellow police tape and several bouquets of flowers were left outside the church grounds. But on Sunday afternoon, Chen said he was in such a state of shock that he was unable to tell the operator his location when he called 911 from the church’s parking lot. “I had to ask someone else for the address,” he said. Chen said a group of about 40 congregants had gathered in the fellowship hall for a luncheon after a morning service to welcome their former Pastor Billy Chang, a beloved and respected community member who had served the church for 20 years. Chang moved back to Taiwan two years ago. This was his first time back stateside, Chen said. Soon afterward, Chen said he heard the details of what happened inside from others who came out. Fellow congregants told Chen that when the gunman stopped to reload, Chang hit him on the head with a chair while others moved quickly to grab his gun. They then subdued him and tied him up, Chen said. “It was amazing how brave (Chang) and the others were,” he said. “This is just so sad. I never, ever thought something like this would happen in my church, in my community.”
SPORTS PAGE 15
TUESDAY, MAY 17, 2022
KEN Mullings and team coach Kenny Moxey Sr in front of the scoreboard.
Title win for Mullings By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net
EVEN though it was a last-minute decision to make the trip to Ottawa, Canada, Ken Mullings is delighted that he went to the North American, Central American and Caribbean’s 2022 Combined Events Championships. Not only did Mullinfgs end up winning the grueling two-day decathlon ten-event competition, but
he was pleased to hear that he could also get an invitation to the World Athletics’ 2022 World Championships in Eugene, Oregon, in July. The 25-year-old Mullings, a graduate of the University of the Bahamas and a member of Power Athletics Track Club, compiled a total of 7,537 points at the end of the competition on Sunday. Canada got second and third with Shawn Beaudoin with 6,450 and Rostam Turner with 6,344.
Looking back at his performance, Mullings said it was what he anticipated, but he expected a little more competition to help push him over the 8,000point barrier. “I felt really good about my performance. I was really happy with my 400 meters and my improvement in the javelin and the 1,500m especially,” said Mullings, who was accompanied by coach Kenny Moxey Sr. “I was trying not to focus
too much on the competition because I didn’t want to put too much pressure on myself. I was trying to focus on one event at a time and get as many points as I could out of each event.” If selected to compete at the World Championships, Mullings said it would be a blessing in disguise for him. “Although I got a short notice, it’s good to know that I could be able to go to the World Championships,” he said. “I consider that to be a blessing.”
As he waits for confirmation on his entry, Mullings said he and his personal coach Ednal Rolle will now have to go back to the drawing board and try to find a way to secure the points needed across the board in order for him to be able to excel in the vent. “We have to get the points in the decathlon. We can’t score big in the 100m and then take away points in the long jump,” he insisted. “We have to be
consistent in the whole ten events.” Mullings started off the competition on Saturday. winning all five events. He did the 100m in 10.88 seconds for 888 points; leaped 22-feet, 8-inches or 6.91 meters in the long jump for 792 points, threw the shot put 45-6 1/2 (13.88m) for 721 points; cleared 6-5 (1.96m) in the high jump for 767 points and ran the 400m in 49.83 for 822 points. SEE PAGE 17
BACK WITH A WIN AS ISAACS JR CHURCH AND ME REJOINS NEW JERSEY JACKALS By RENALDO DORSETT Tribune Sports Reporter rdorsett@tribunemedia.net
TODD Isaacs Jr returned to the New Jersey Jackals for his second season with the club in the Frontier League and helped the team to a series opening win to begin their 25th campaign as a franchise. Isaacs finished with three hits, one home run and four RBI as the Jackals took 2-3 games over the Evansville Otters in Evansville, Indiana over the weekend. In game one, he finished 1-5 with a two-RBI single in the Jackals’ 9-5 win. In a game two that began Saturday afternoon before inclement weather forced its postponement and completion on Sunday - Isaacs hit his first home run of the season in a 10-9 Jackals win. He finished 2-4 with two RBI, two runs scored and one stolen base. New Jersey trailed 8-4 when play was halted Saturday night and returned Sunday to take the come from behind win. They dropped
the second game of the impromptu double header 4-0. The Jackals continue their season tonight when they begin a six game road trip in Florence, Kentucky against the Florence Y’alls. The Frontier League is the largest league in all of independent professional baseball. It includes teams in the Northeastern and Midwestern United States and Eastern Canada. Last year it merged with the American Association and the Atlantic League to become an official MLB Partner League. The Jackals compete in the Northeast Division with a 96 game regular season schedule. This will be the first season that the Jackals will be facing off against the majority of the teams in the West Division - Evansville, Florence, Lake Erie, and Schaumburg for the first time, Within their own conference, the Ottawa Titans and Empire State Greys will grace the team’s calendar for the first time. In order to make the playoffs, the Jackals need a top three finish in the
eight team East Division. In just 53 games last season, Isaacs’ 11 home runs ranked second on the team behind Justin Wylie’s 15, achieved in 80 games. For the season, Isaacs hit .304 with 63 hits, including nine doubles, three triples, 32 RBI, scored 44 runs, nine stolen bases, slugging .536 with an .889 .OPS At the minor league level, Isaacs last played for the Colorado Rockies organisation with their Triple A affiliate (Albuquerque Isotopes) in 2020, prior to the COVID-19 pandemic. He spent the bulk of the season in Grand Junction at the Rookie Level but also received the highest call up of his career when he was called up to the Isotopes of the Pacific Coast League. He was released by the Rockies in April, following the cancellation of the minor league baseball season. After spending nearly four years with the Cleveland Indians organisation, Isaacs signed with the Rockies and spent approximately a year with the organisation.
WHAT FUTURE FOR LITTLE-USED AYTON? By RENALDO DORSETT Tribune Sports Reporter rdorsett@tribunemedia.net
DEANDRE Ayton played sparingly in his Phoenix Suns’ worst playoff loss in franchise history which prompted many to revisit a lingering and unresolved contract negotiation between the team and its former no.1 overall pick. Ayton appeared in only 17 minutes of the Suns’ 123-90 elimination loss to the Dallas Mavericks in game seven of the Western Conference semifinals Sunday night at the Footprint Center in Phoenix, Arizona.
He finished with just five points, four rebounds and two assists. Suns’ head coach Monty Williams told reporters postgame that Ayton’s limited playing time was the result of an “internal” decision and did not expand on the matter. Ayton declined postgame media availability. He had just one shot attempt in the first quarter (2-5 for the game) and exited the game after he was called his third foul near the four minute mark in the second quarter. The Suns trailed by 18 when Ayton left the floor and was replaced by Bismack Biyombo. Over the first six games of the
series, Ayton averaged 17.5 points and 8.8 rebounds per game while shooting 60 percent from the field. In his fourth season, the 23-yearold centre averaged 17.2 points on a career high 63 percent from the field and 10.2 rebounds per game in 58 appearances. Attention this offseason will return to Ayton’s contract situation with the Suns as he enters restricted free agency (RFA). As an RFA, Ayton is free to sign an offer sheet with another franchise but the Suns would still have the ability to match the deal and retain his rights if they choose to do so. SEE PAGE 16
COLIN Thompson and Godfrey Eneas pictured third and fourth from left respectively.
Colin ‘Church’ Thompson, the brother of former NBA two-time Los Angeles Lakers’ center Mychal ‘Sweet Bells’ Thompson, passed away last week. Today, former baseball player GODFREY ENEAS gives a special tribute to his former baseball/ softball team-mate. IN the 1950s when Andre Rodgers signed a professional baseball contract with the New York Giants, this changed the sporting landscape for many youngsters in Nassau at the time. Every youngster who played softball switched to baseball because they wanted to be the next Andre Rodgers.Colin
“Church” Thompson and I were no exceptions. The 50s were a time when sporting facilities were lacking and sporting organisations made do with what was available. For baseball, Clifford Park or some would call the Western Fort for us, was our Yankee Stadium, Ebbets Field or even the Polo Grounds. Sunday was baseball as the games started at 10 am and three games were played. Because Church and I lived out East, our practice field was the Eastern Parade. It was on the Parade that we developed our skills under the watchful eyes of his uncle Phillip “Box” Fountain and older players like Willis Ferguson, Freddie Higgs, Robbie Elliot and others.Church came from a very religious family, so he had to engage in some shenanigans to play on Sundays. SEE PAGE 17
PAGE 16, Tuesday, May 17, 2022
THE TRIBUNE
WHAT FUTURE FOR LITTLE-USED AYTON? from page one
Ayton also has the option of playing next season under a one year qualifier and become an unrestricted free agent the following season in 2022-23. Contract negotiations between Ayton and the Suns reached an impasse last April after both sides failed to reach an
agreement on a rookie contract extension. He was eligible for a fiveyear, $172.5m extension that could have reached as much as $207m if he reached benchmarks and incentives. Last offseason, the Suns reached extensions with veteran point guard Chris Paul - a four year deal worth up to $120m; Ayton’s fellow 2018 draftee
Mikal Bridges - a four year deal worth up to $90m and newly acquired guard Landry Shamet - a four year deal worth $43m. Several players in Ayton’s 2018 NBA draft class have received max contract extensions including Trae Young of the Atlanta Hawks, Luka Doncic of the Dallas Mavericks, Shai Gilgeous-Alexander of the Oklahoma City Thunder,
Jaren Jackson Jr of the Memphis Grizzlies, Kevin Huerter of the Atlanta Hawks, Michael Porter Jr of the Denver Nuggets. “We were two wins away from a championship,” Ayton said following a preseason practice session, “And I just really want to be respected to be honest, like my peers are being respected by their teams.”
TMZ Sports first reported that Ayton and Suns owner Robert Sarver met at Sanctuary Camelback Mountain Resort in Phoenix prior to the extension deadline as negotiation talks ramped up but that meeting failed to produce a deal. Ayton has career averages of 16.3 points and 10.5 rebounds per game in 236 games as a Sun. He is the fastest player in franchise
history to reach 100 double doubles and was also the fastest player in franchise history to collect 1000 rebounds for his career (94 games). According to StatMuse, Ayton was the first player in NBA history to average at least 15 points and 10 rebounds per game on 65 percent field goal shooting in a single playoff run (10 games minimum).
TEAMS BATTLE IT OUT FOR THE HUMMEL CUP WHILE the weather did not cooperate over the weekend at the Roscoe Davies Sloccer Complex, this did not dampen the spirit of the competitors in the men and women divisions of the Hummel Cup Soccer Tournament, The event was hosted by the Bahamas Football Association. In the end, the United WFC prevailed
over the Dynamos WFC 3-0 to win the Women’s Division and in the Men’s Division, the Renegades FC stood victorious over the Seventeen FC in penalty kicks 4-2. The third place medals in the Women’s division was captured by Cavalier WFC over the Western Warriors WFC and in the Men’s Division, United FC defeated the Warriors Men’s team 3-1.
VOLLEYBALL PLAYERS VISIT MINISTER TWO professional volleyball players in the Europe Circuit and a successful college athlete recently met with Ministry of Youth, Sports and Culture officials for a courtesy call. Minister of Youth, Sports and Culture Mario Bowleg expressed his appreciation and support for the work of volleyball athletes in improving their sport while promoting the Bahamas on a global scale. Minister Bowleg met with pro players Shonari Hepburn, Eugene Stuart and Ras Jesse Delancy.
Also attending were director Tim Munnings, director designate Kelsie Johnson, and Permanent Secretary Eugene Poitier. The players took the opportunity to share their successes and their challenges, on and off the Volleyball court. Hepburn played for Frankfurt in Germany and Stuart played for Arca Golati in Romania. Stuart has just recovered from a knee injury and is in search of a team. Delancy recently made history in collegiate
volleyball, becoming the first man to win the Southern Intercollegiate Athletics Conference (SIAC) Volleyball Player of the Year, as the male category was introduced this year. Delancy also captured the player of the year for the Benedict College Tigers. Delancy had an impressive season and rounded it off with a 4.0 average GPA at Benedict. The Tigers team includes several other Bahamians - Clint Forbes, Donovan Wilmott, Zion Beckford and Terran Walkin.
DIRECTOR of Sports Tim Munnings, professional volleyball players Eugene Stuart and Shonari Hepburn, Minister of Sports Mario Bowleg; volleyball player Ras Jesse Delancy, Permanent Secretary Eugene Poitier and director designate Kelsie Johnson.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 17
ARSENAL SLIP PUTS SPURS IN POLE POSITION
KEN Mullings on the podium receiving his gold medal sandwiched between Canadians Shawn Beaudoin and Rostam Turner.
Title win for Mullings from page one On Sunday’s final day, he took a total of 3,990 points into the competition and finished by winning three of the five remaining events to stay on top of his rivals. In the 110m hurdles, he won in 14.31 for 935 points; got second in the discus with a heave of 126-7 (38.58m) for 636 points; posted 14-5 1/4 (4.40m) to win the pole vault for 731 points’ tossed the javelin 186-5 (56.83m) for 690 points, but ended up fifth in the 1,500m in 5:00.76 for 555 points. Moxey Sr, a former decathlon, said Mullings’ performance was on par, even though they had anticipated a lot more competition from their rivals. “He executed his events and he won all of his events
with the exception of the discus and the 1,500m,” Moxey Sr said. “The competition wasn’t quite there to push him as hard as he needed to go.” Moxey Sr said at the end of the competition, the meet organisers indicated to him that as a result of winning the title, he would be considered for an entry spot at the World Championships, but he said that has to be ratified by the Bahamas Associations of Athletic Association. “He definitely has the potential to qualify,” said Moxey Sr, of Mullings, who need to score at least 8,350 points to make the official qualifying standard. “He just needs to put it all together.” In critiquing his performance, Moxey Sr said there are some gray areas that
Mullings can improve. He noted that all of his throws could be improved upon, but all of the other events are right on par. Mullings thanked his entire coaching staff, es[ecially Ednal Rolle and Aymara Albury, for getting him prepared on such short notice for the trip and Kenny Moxey for his assistance in Ottawa. He said he will continue to build on what he’s achieved so far and hopefully, he can get the results he’s looking for. Hopefully, he will also have his training partner and national record holder, Kendrick Thompson, back in action pretty soon as they continue their assault on providing a 1-2 punch for The Bahamas on the international scene in the decathlon.
PLAYOFF FINAL
KEN Mullings clearing the pole vault.
BAHAMIANS IN ACTION OVER THE WEEKEND By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net
in the 200m, only this time, Cartwright had the fastest qualifying time of 23.70, which would have matched her previous meet record, while Jackson did 23.96 for the second-fastest. Before she was done, Cartwright ran the pop-off leg for Minnesota State’s 4 x 100m relay team that included Ja’Cey Simmons, Rose Cramer and Makayla Jackson tat won in 45.48.
HURDLERS Jahmaal Wilson and Denisha Cartwright took the spotlight s they led an array of Bahamians in action over the weekend in their various season-ending championship or conference championships collegiate track and field meets over the weekend throughout the United States of America. Wilson record-breaking performance in Texas At the West Texas Last Chance Meet in Canyon, Texas, West Texas A&M’s freshman Jahmaal Wilson broke a 28-year-old NCAA Division II record and a 13-yearold Bahamian national record on Sunday at the WT Last Chance meet in Canyon. The RM Bailey graduate majoring in marketing is now the NCAA DII record holder in the 110-meter hurdles as the freshman ran a wind-legal (1.7) 13.35 to break Brian Amos’ record of 13.37 set back on May 12, 1994, the Lone Star Conference record and school record, tying him 25th among all collegiate levels. In the process, Wilson also shattered Shamar Sands’ Bahamian national record of 13.38 that he posted on June 17, 2009 at the Golden Spike in Ostrava, Czech Republic. But he just missed the qualifying standard of 13.32 for the World Championships in Eugene, Oregon in July. Finishing second in the race in 13.55 was fellow Bahamian Tyrin Lewis, who competed unattached. Cartwright starred for Minnesota At the NSIC Outdoor Track
JAHMAAL Wilson in action. and Field Championships at the Northern State University, Denisha Cartwright had an impressive showing for Minnesota State as they easily won the women’s team title with 191 points. The sophomore did her team in their success as she established a meet record of 13.28 seconds in winning the women’s 100-meter hurdles to erase the old mark of 13.40 that was set by Danielle Kohley of Minnesota-Din 2019. She led the preliminaries with the fastest qualifying time of 13.75. Cartwright was also the runnerup in the women’s 100m in 11.68 behind teammate Makayla Jackson, who won in a meet record of 11.43. Cartwright had the secondfastest time in the qualifying rounds of 11.69 with Jackson taking the top spot in 11.57. Cartwright (23.80) again trailed Jackson (meet record of 23.56)
CHURCH AND ME from page one
Church was a pretty good softball and baseball player as a catcher/ first baseman. He was in the lineup not because of his glove but for his bat. In the Schlitz lineup, he hit cleanup or fourth behind Lorenzo “Donie”
Lockhart,probably one of the best hitters in the history of Bahamian baseball. In softball, Church had the distinction of facing the US softball traveling legend,the King and his Court which was a four-man team: pitcher, catcher, first baseman, and shortstop. The King, Eddie Feigner, was probably the best
Gibson paced Oral Roberts University At the Summit League Outdoor Championships, hosted by the Oral Roberts University at their Sports Complex in Tulsa, Oklahoma, Gabrielle Gibson led the way with her victory in the women’s 100m hurdles in 13.57, the only event title won by the Golden Eagles. India Cartwright, a sophomore, came in second in 13.59 to complete a 1-2 sweep. Gibson, now in her senior year, was also the runner-up in the 200m, while Lakelle Kinteh, a junior, was fifth in the 100m in 12.17. In relay action, Gibson ran the second leg of ORU’s 4 x 100m team of Lakelle Kinteh, Judith Bediako and India Cartwright, which placed second in 45.09. And in the 4 x 400m relay, Chanice Forbes, Gibson, Nikki Victorious and Adrene Mazzei were fifth in 3:52.83. Also at the meet, Bradley Dormeus picked up a second-place finish in the men’s 400m in 46.20. Both of ORU men’s and women’s teams finished fifth. Miller Jr soared for Ohio State Ohio State track and field team
softball pitcher in the world. They were the Harlem Globetrotters of softball. However, that Sunday on Garfunkle Field, Church put him over the left field fence.It was a sensational moment just to watch trot around the bases with a big smile. Church had another big baseball moment when
ARSENAL no longer has Champions League qualification in its own hands. A 2-0 loss at Newcastle yesterday saw Arsenal relinquish the initiative in its fight with fierce north London rival Tottenham for a finish in the English Premier League’s top four and a return to Europe’s top competition. Heading into the final round on Sunday, Tottenham occupies fourth place — two points above Arsenal in fifth — and just needs to beat already-relegated Norwich to guarantee a top-four spot. Given Tottenham’s far superior goal difference, a draw will highly likely be enough against the league’s lastplaced team. Arsenal will host Everton at the same time and knows a win still might not be enough to get back in the Champions League after a five-year absence. Newcastle’s intensity at a rocking St James’ Park proved too much for Mikel Arteta’s young Arsenal team, with the hosts well on top by the time Ben White turned the ball into his own net in the 55th minute as he stretched to clear a leftwing cross from Joelinton. Brazil midfielder Bruno Guimarães ensured there would be no way back for Arsenal by adding the second in the 85th, sidefooting home a loose ball after it rebounded to him off goalkeeper Aaron Ramsdale. “We could not cope with the game we had to play here,” said Arteta, who described Newcastle as “ten times better” than his team.
won both the men’s (124 points) and women’s (185.5 points) titles at the 2022 Big Ten Outdoor Championships in Minneapolis on Sunday in Columbus, Ohio where Shaun Miller Jr was one of the top performers. Sophomore Miller Jr was the runner-up in the men’s high jump with a leap of 7-feet, 1 1/2-inches or 2.17m. Fellow Bahamian Jules Etienne, a senior at Indiana, got fourth with a leap of 7-0 1/4 (2.14m). The winning height was 7-2 1/2 (2.20m) by Mayson Conner, a junior at Nebraska. Also in the 110m hurdles, sophomore Oscar Smith finished fourth to rank third in program history with his time of 13.59. Joshua Zeller, a junior at Michigan, set a meet record of 13.19 to win the race. Wells topped the list for Florida At the Southeastern Conference Championships, Sasha Wells, a senior who transferred from Oral Roberts to the University of Florida, was seventh in the final of the women’s 100m hurdles in 13.75. The first three finishers in the race all surpassed the World Championship qualifying time of 12.84. Olympian Megan Moss just missed out on a spot in the final of the women’s 400m for the University of Kentucky with hr 10th place in the preliminaries in 52.70. Fellow Bahamian Doneisha Anderson, a junior at Florida, was 189th overall in 53.66. While Moss didn’t run on the Wildcats’ winning 4 x 400m relay team that established the facility, meet and collegiate records, Anderson ran the third leg for Florida as they finished fifth in 3:26.85.
he homered to clinch the Championship for Schlitz that was fifty plus years ago. Winning the Championship enabled our sponsor, the late Audley Kemp, to arrange with Schlitz in Milwaukee an all expense paid visit to that City. Schlitz treated us royally as we played a number of
teams around the City as well as given VIP treatment with the Milwaukee Brewers, the major league team. I just highlighted two unforgettable softball and baseball events in the sporting life of a guy who I knew as a playmate, schoolmate and teammate. May you rest in peace, Church; we will miss you.
HUDDERSFIELD is one win away from returning to the English Premier League. With a 1-0 win over Luton on Monday, Huddersfield secured a 2-1 victory on aggregate in the playoff semifinals in the second-tier Championship. The final takes place on Saturday at Wembley Stadium, where Huddersfield will face either Nottingham Forest or Sheffield United. Forest won 2-1 away in the first leg and the second leg takes place on Tuesday. Huddersfield was promoted to the Premier League in 2017 after 45 years in the lower leagues. After two seasons, the team from Yorkshire was relegated and finished in 20th place in the 24-team Championship last season.
CHIELLINI GONE JUVENTUS captain Giorgio Chiellini bid goodbye to the Turin club’s fans during a 2-2 draw with Lazio in Serie A on Monday. After 17 seasons at Juventus, Chiellini recently announced he was leaving at the end of the season — likely for MLS in the United States — and this was the Bianconeri’s final home match of the campaign. When Chiellini came off in the 17th minute, he took off his armband and placed it on Paulo Dybala - another player likely to leave Juventus - then blew kisses to the crowd and hugged his teammates, and even one Lazio player, before being replaced by Matthijs de Ligt. Chiellini then went along the stands to shake hands with fans. Sergej Milinkovic-Savic scored in the final second for Lazio to secure a Europa League spot for the Roman club. Alvaro Morata set up one goal for Dusan Vlahovic then scored himself before Lazio pulled one back after the break with an own goal from Alex Sandro. The 22-year-old Vlahovic, who joined from Fiorentina in January, has 51 goals in Serie A — matching Dejan Stankovic for the most ever by a Serbian player. Dybala also got a nice reception when he exited late in the second half.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 19
POTTER’S CAY VENDORS: WE NEED $48K FOR DECK PILINGS By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net
SIX fire-ravaged Potter’s Cay vendors still need the extra $48,000 previously set aside for waterside pilings so they can reconstruct their decks, their Association president said yesterday. Wendi Constantine, the Bahamas Dock and Allied Venues Vendors Association (BDAVVA) president, told Tribune Business this sum had been
set aside for such work by the former Minnis administration in its efforts to assist those whose stalls were destroyed by fire last year. The funds, she added, were left at FYP Builders Mall together with a further $96,000 for rebuilding the stalls landside. However, Clay Sweeting, minister of agriculture, marine resources and Family Island affairs, said earlier this week that the vendors must get approval from the Department of Environmental Planning and Protection
(DEPP) for the pilings - a process that will take some time to obtain approval. Ms Constantine, though, said: “There are other ways to put down the deck instead of piling into the sand. This is unacceptable, and Potter’s Cay Dock is not an environment for take-away. The culture is to sit down, and he said nothing about DEPP approval in all of these meetings. When we got the plans last week we were shocked. “The previous government left $96,000, and that’s for the material, at
FYP (Builders Mall), which comes to about $16,000 per person, along with $48,000 for the piling. Altogether they left $144,000. This administration is not even trying to help us. We already had approvals for decks. The deck is the floor of your building, and without the deck we are only left with the little piece of the sidewalk. You can’t hold stoves and equipment in the back of that. “We need those decks,” Ms Constantine added. “I spoke to Commander Wright (head of the Port
Department) and he admitted that it takes about eight months to a year for this committee and, even after it meets, it doesn’t mean that you will get approval. “Also, you cannot build on the side of the road and then add a deck. The deck is the floor and it needs to make one continuous flow or else it will not line up. So you can’t come back one year later and put in the floor. That cannot work. You have to build the sides of your building on to that deck which is attached to your building.”
THE WEATHER REPORT
5-Day Forecast
TODAY
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High: 93° F/34° C Low: 74° F/23° C
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THURSDAY
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Partly sunny with a thunderstorm
A t‑storm in spots in the evening
Mostly sunny and beautiful
Partly sunny and pleasant
Cloudy and humid with a t‑storm
Mostly cloudy, a t‑storm; humid
High: 83°
Low: 75°
High: 85° Low: 76°
High: 84° Low: 75°
High: 86° Low: 76°
High: 85° Low: 75°
AccuWeather RealFeel
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AccuWeather RealFeel
AccuWeather RealFeel
95° F
82° F
98°-84° F
97°-78° F
94°-82° F
95°-81° F
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.
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High: 83° F/28° C Low: 77° F/25° C
4‑8 knots
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High: 88° F/31° C Low: 73° F/23° C
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FT. LAUDERDALE
FREEPORT
High: 86° F/30° C Low: 75° F/24° C
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WEST PALM BEACH
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| Go to AccuWeather.com
TONIGHT
High: 90° F/32° C Low: 76° F/24° C
High: 84° F/29° C Low: 75° F/24° C
MIAMI
High: 89° F/32° C Low: 76° F/24° C
4‑8 knots
KEY WEST
High: 85° F/29° C Low: 78° F/26° C
ELEUTHERA
NASSAU
High: 83° F/28° C Low: 75° F/24° C
Forecasts and graphics provided by AccuWeather, Inc. ©2022
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uV inDex toDay
The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.
tiDes For nassau High Today
Ht.(ft.)
Low
Ht.(ft.)
9:19 a.m. 9:50 p.m.
2.6 3.5
3:30 a.m. ‑0.5 3:24 p.m. ‑0.8
Wednesday 10:11 a.m. 10:44 p.m.
2.5 3.4
4:22 a.m. ‑0.5 4:16 p.m. ‑0.7
Thursday
11:07 a.m. 11:40 p.m.
2.5 3.3
5:17 a.m. ‑0.4 5:12 p.m. ‑0.5
Friday
12:07 p.m. 2.4 ‑‑‑‑‑ ‑‑‑‑‑
6:15 a.m. ‑0.2 6:12 p.m. ‑0.2
Saturday
12:39 a.m. 1:12 p.m.
3.1 2.4
7:15 a.m. ‑0.1 7:17 p.m. 0.0
Sunday
1:41 a.m. 2:20 p.m.
3.0 2.4
8:17 a.m. 0.0 8:27 p.m. 0.2
Monday
2:44 a.m. 3:27 p.m.
2.8 2.5
9:17 a.m. 0.0 9:37 p.m. 0.3
sun anD moon Sunrise Sunset
6:25 a.m. Moonrise 7:48 p.m. Moonset
9:54 p.m. 7:33 a.m.
Last
New
First
Full
May 22
May 30
Jun. 7
Jun. 14
CAT ISLAND
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High: 82° F/28° C Low: 76° F/24° C
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4‑8 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.
Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 84° F/29° C Low .................................................... 72° F/22° C Normal high ....................................... 84° F/29° C Normal low ........................................ 71° F/22° C Last year’s high ................................. 87° F/30° C Last year’s low ................................... 71° F/22° C Precipitation As of 2 p.m. yesterday ................................. 0.18” Year to date ............................................... 13.98” Normal year to date ..................................... 7.39”
High: 83° F/28° C Low: 75° F/24° C
The BDAVVA covers the Potter’s Cay vendors, Western Esplanade, Cabbage Beach and Farmers Market vendors, where Ms Constantine added: “Dealing with the Ministry of Works and the permanent secretary there, Luther Smith, is like night and day when dealing with other ministries. He has been helpful with getting the vendors on the Western Esplanade water, and Ministry of Works seems to be the only ministry that is doing moving something along for my vendors.”
ANDROS
SAN SALVADOR
GREAT EXUMA
High: 82° F/28° C Low: 76° F/24° C
High: 82° F/28° C Low: 78° F/26° C
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High: 80° F/27° C Low: 75° F/24° C
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LONG ISLAND
tracking map
High: 83° F/28° C Low: 78° F/26° C
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MAYAGUANA High: 84° 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: 83° F/28° C Low: 79° F/26° C
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High: 83° F/28° C Low: 79° F/26° C
GREAT INAGUA High: 86° F/30° C Low: 78° F/26° C
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marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR
Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday:
WINDS SW at 4‑8 Knots SSE at 4‑8 Knots SE at 4‑8 Knots ESE at 4‑8 Knots SSW at 4‑8 Knots NNE at 4‑8 Knots SSW at 4‑8 Knots ENE at 4‑8 Knots SSW at 4‑8 Knots WSW at 4‑8 Knots SW at 4‑8 Knots S at 4‑8 Knots S at 4‑8 Knots NE at 4‑8 Knots SW at 4‑8 Knots NE at 6‑12 Knots WSW at 4‑8 Knots ENE at 4‑8 Knots SSE at 6‑12 Knots E at 4‑8 Knots SSE at 4‑8 Knots ESE at 4‑8 Knots E at 4‑8 Knots ENE at 6‑12 Knots SW at 4‑8 Knots NNE at 3‑6 Knots
WAVES 2‑4 Feet 1‑3 Feet 0‑1 Feet 0‑1 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 2‑4 Feet 1‑3 Feet 1‑2 Feet 0‑1 Feet 1‑2 Feet 0‑1 Feet 1‑2 Feet 1‑2 Feet 1‑3 Feet 1‑2 Feet 3‑5 Feet 2‑4 Feet 0‑1 Feet 0‑1 Feet 1‑2 Feet 1‑3 Feet 1‑2 Feet 0‑1 Feet
VISIBILITY 8 Miles 10 Miles 10 Miles 10 Miles 8 Miles 7 Miles 5 Miles 10 Miles 6 Miles 7 Miles 10 Miles 10 Miles 6 Miles 10 Miles 6 Miles 10 Miles 8 Miles 5 Miles 5 Miles 6 Miles 5 Miles 10 Miles 5 Miles 5 Miles 6 Miles 10 Miles
WATER TEMPS. 79° F 79° F 83° F 85° F 81° F 81° F 83° F 83° F 80° F 81° F 82° F 83° F 82° F 83° F 84° F 84° F 82° F 81° F 80° F 81° F 81° F 82° F 84° F 84° F 81° F 81° F
PAGE 20, Tuesday, May 17, 2022
THE TRIBUNE
FRAUDSTERS PLUNDER $2M THROUGH BANK’S BLUNDER
FROM PAGE 24 CBH Bahamas executives, and their counterparts at the Swiss head office, failed to spot the difference between the name used by the fraudsters - “Andre Ruzhnikov” as opposed to the correct Andrei Rujnicov - as well as the fact that the fake e-mail they were corresponding with had an extra ‘i’ in it as compared to the address used by the art dealer’s secretary. The largest sum of money obtained by the fraudsters in any one transaction from Mr Rujnicov/Zampa’s account was $290,000, but Justice Winder said the frequency of transfer requests - which rose to three per day at their peak - should also have alerted CBH Bahamas executives that something was amiss. “Banks are expected to be more than mere automatons,” his judgment read.
“The evidence of Zampa’s expert witness emphasises that in providing service to customers, particularly in the digital age, requires banks to rise beyond the strict execution of payment instructions without pause for inquiry. “The bank must, as a rule, interrogate the instructions given by clients. The rapid succession in which the payment requests came, in some cases two and three times in one day, ought to have created a cause for some concern.” Justice Winder said calling clients back, so as to verify they had actually issued transfer instructions, became mandatory at CBH Bahamas after it fell victim to the deception. However, he was “persuaded” this had been a feature of the bank’s relationship with the Moldovan art dealer from the outset. “The evidence is clear that
CBH committed a serious error,” Justice Winder added. “This is so if only for the simple fact that it paid out in multiple transactions almost the entirety of Zampa’s account without proper authority. “There were just too many missed opportunities on the part of CBH to intercept and discover the fraud. The spelling of Rujnicov’s name, the additional ‘i’ in the e-mail that was passed off as [his secretary’s], the lack of due diligence and follow-up were all confirmed in the testimony of the compliance expert. These all point to a breach of the account opening agreement (AOA) on the part of CBH. “In particular, the expert spoke to protocols in general in the offshore banking sector, and that had these general protocols been followed they could have averted the fraud.” The
account, which was opened earlier in 2014 in Zampa’s name, stated that Rujnicov had a “power of attorney” as its authorised representative to conduct transactions - a power that could not be transferred or delegated to third parties. A so-called “reference code” was established between CBH and the arts/ antiquities dealer for the purpose of authenticating transactions on Zampa’s account. Two such transactions took place on April 14, 2014, and October 13, 2014, on e-mail instructions from Mr Rujnicov’s then-assistant, Ekaterina Yakushkina. On both occasions the Swiss-based banker who opened Zampa’s account, Leandre Sappino, called to verify the instructions were correct. However, between October 14-16, 2014, Yakushkina’s e-mail was compromised after she
PM RENEWS ASSAULT ON COVID FOOD INITIATIVE FROM PAGE 24 He also slammed the failure by two NGO participants, Lend a Hand Bahamas and IDEA Relief, to provide ATI Company with any financial records even though they received $11.159m and $3.988m of taxpayer monies respectively. In particular, Lend a Hand Bahamas received 21.05 percent or $1 out of every $5 taxpayer dollars distributed to the Task Force, its share being second only to that of Bahamas Feeding Network, which was handed $11.397m. “Ten million dollars of the Bahamian people’s money is simply unaccounted for,” the Prime Minister told the House of Assembly. “We call on those with knowledge of the underlying facts to come forward. Those who have failed to provide answers and evidence still have an opportunity - and an obligation - to do so.
“I’m not casting aspersions. I’m saying that we need answers. I’m not prejudging the circumstances we have uncovered. We cannot say definitively whether we are looking at jaw-dropping incompetence... or something considerably worse..” In a message to the public, he added: “Look at the report for yourself. It makes startling reading. For now, no conclusions, but understand where next we should go.” Mr Davis used language such as “startling”, “astounding” and “breathtaking” to describe the audit’s findings, and what he termed a “lack of cooperation” in producing records of the Task Force’s operations. However, the audit stopped well short of levying any charges or findings of financial misconduct or wrongdoing, instead focusing on problems with procedures, processes and internal controls.
The report also lamented that several NGOs had concentrated their spending and food procurement with several large vendors, such as Sysco Bahamas (Bahamas Food Services); Super Value; Price Right; Sawyer’s Fresh Market; and Showman Ebistro. There was no acknowledgement, though, that they may have been able to get a better deal on pricing by dealing in bulk with larger vendors. “NGO expenditures related to the Food Programme were concentrated to a minimal group of vendors and did not appear to be representative of a reasonably proportionate mix (with the exception of One Eleuthera Foundation, who had a satisfactory expenditure mix),” the report by ATI Consulting said. For Bahamas Feeding Network, “Sysco accounted for approximately $2.7m or approximately 40 percent of the costs during the Food Programme”. As for Hands for Hunger,
“Showman Ebistro accounted for more than $5m or more than 80 percent of the costs during the food programme”. Mr Davis, in his House of Assembly address, singled out Showman Ebistro for special attention. He tabled several invoices or bills, worth close to a collective $1.5m, that it had issued to Hands for Hunger for what were largely described as delivery and distribution services provided to it in its role as part of the National Food Distribution Task Force. “Some of the records which were kept raise even bigger questions, Madam Speaker. Why were such exorbitant fees paid for some services?” Mr Davis asked. “For example, one restaurant was paid $6 per box for the delivery of each food parcel..... This amounted to approximately $50,000 per month. “We need answers for this. The auditor is trying to get it. Don’t you think it
MARKET REPORT www.bisxbahamas.com
FRIDAY, 13 MAY 2022
BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 53.00 2.05 2.90 2.60 6.05 10.05 3.50 9.02 3.10 8.00 15.30 2.71 10.25 11.25 10.85 15.00 4.10 11.00 16.50
52WK LOW 4.75 32.12 1.46 2.20 1.30 5.50 6.96 2.82 4.25 2.27 5.93 9.75 1.99 6.50 10.02 9.01 13.10 3.50 8.00 15.50
SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank (Bahamas) Limited Focol Finco J. S. Johnson
PREFERENCE SHARES 1.00
1.00
1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 10.00 1.00
1.00 10.00 1.00
Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00
52WK LOW 100.00 100.00
SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited
CLOSE
CHANGE
%CHANGE
YTD
YTD%
2350.95
0.14
0.01
122.71
5.51
SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB SYMBOL FBB22 BFHB
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.54 99.98 100.00 100.00 100.00 100.00 100.00 100.98 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.76 100.00 99.98 91.00 90.95 89.02 89.62 89.00 90.24 90.73
MUTUAL FUNDS 52WK HI 2.52 4.69 2.22 207.86 212.41 1.73 1.83 1.82 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89
52WK LOW 2.11 3.30 1.68 164.74 116.70 1.68 1.73 1.75 0.99 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BGR134150 BGRS FL BGRS79026 BGRS FL BGRS78024 BGRS FX BGR125238 BGRS FX BGR127139 BGRS FX BGR127149 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150
BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1341506 BSBGRS790262 BSBGRS780248 BSBGR1252380 BSBGR1271398 BSBGR1271497 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504
LAST CLOSE 5.35 39.95 2.04 2.31 2.25 6.05 9.25 3.30 7.52 2.68 8.00 15.18 2.16 10.25 11.63 10.85 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.79 100.54 99.98 100.00 100.00 89.08 89.62 100.00 100.00 100.00
CLOSE 5.35 39.95 2.04 2.31 2.25 6.05 9.25 3.30 7.52 2.68 8.00 15.18 2.29 10.25 11.66 10.85 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
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
VOLUME
1,000
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00 100.00
CHANGE 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.79 100.54 99.98 100.00 100.00 89.08 89.62 100.00 100.00 100.00
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 0.00 0.00 0.00
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F
MARKET TERMS
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.00 0.03 0.00 0.00 0.00 0.00 0.00
(242) 323‐2330 (242) 323‐2320 EPS$ 0.239 0.932 0.000 0.140 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
VOLUME
DIV$ 0.170 1.260 0.020 0.080 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.00% 4.53% 4.50% 5.00% 5.00% 5.50% 5.55% 5.60% 5.65% 5.69%
NAV 2.52 4.69 2.21 197.44 202.39 1.73 1.82 1.82 0.99 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89
YTD% 12 MTH% 0.99% 4.22% 0.36% 5.78% 0.67% 2.74% -2.97% -2.35% -4.72% 6.04% 0.83% 2.82% -0.18% 3.72% 0.76% 3.55% -3.55% -3.85% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%
P/E 22.4 42.9 N/M 16.5 N/M N/M 25.1 -7.5 53.7 14.6 17.8 21.0 22.5 21.9 18.0 14.9 18.4 19.7 10.6 24.6 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
YIELD 3.18% 3.15% 0.98% 3.46% 0.00% 0.00% 2.81% 0.00% 0.00% 4.48% 2.75% 4.74% 18.95% 0.59% 2.81% 2.21% 3.60% 3.01% 2.00% 3.94% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%
MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Oct-2038 28-Mar-2026 22-Sep-2024 15-Oct-2038 15-Jan-2039 15-Jan-2049 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050
NAV Date 31-Mar-2022 31-Mar-2022 25-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021
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 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
clicked on a “phishing” e-mail. The fraudsters behind it subsequently began corresponding with CBH and Sappino, who on October 17 introduced them to Bahamian bank executives, Ahmad Strachan and Ursula Rolle. The imposters subsequently sent the bank a false “letter of authorisation” on October 28, 2014, giving Yakushkina authority to handle Zampa’s account. Mr Strachan was said to have even communicated with the fraudsters over the phone, having “absolutely no way of knowing who he was talking to”, and Justice Winder said: “Perhaps the most striking error or omission was the failure of Sappino to detect that he must have been corresponding with an imposter or, at the very least, something was awry. “On October 17, 2014, he had introduced Yakushkina
to Rolle and Strachan, yet on October 20 he received a request from the imposter, posing as Yakushkina, to be introduced to CBH. Sappino’s response was to do nothing and simply re-send the introduction.” Sappino admitted on trial that the two introduction requests within three days of each other “seemed weird”, and Justice Winder said he would have discovered the fraud if he had checked the e-mail address used. Some $437,500 of the “unauthorised transactions” were recovered, leaving a balance of $1.62m to be reclaimed. However, Justice Winder reduced this award by 20 percent on the basis that CBH Bahamas was not given a timely alert that the e-mail may have been compromised by the “phishing” attack. Still, he placed the majority of the blame on the Bahamian financial institution.
appropriate that they get it so we have an understanding of what these things mean? You ask yourself: Why pay $6 for the delivery of those parcels and what was in those parcels? Tins of corn beef, flour. It looks like the delivery cost more than the package. Don’t you think any right-thinking person would ask what this means?” Romero Dorsett, Showman Ebistro’s principal, declined to comment when contacted by Tribune Business yesterday on the basis that he had not heard the Prime Minister’s comments. He indicated, though, that he may respond at a later date once he had “researched” what was said and the context in which the remarks were given. Meanwhile, the ATI Consulting report said after Hands for Hunger took over the National Food Distribution Task Force’s work on Abaco it spent $1.5m or 32 percent of its budget on procuring food from Price Right. And, back in Nassau, the Bahamas Red Cross purchased $1m or 55 percent of its supplies from Super Value. Susan Holowesko-Larson, who ran the National Food Distribution Task Force, declined to comment on both the Prime Minister’s comments and the report as the latter was still being reviewed. She previously disclosed, though, that some 1.447m food parcels and vouchers had been distributed to needy Bahamians at COVID-19’s peak. Some
14,427 households, identified as “highly vulnerable”, had been the focus for the $53m, 70-week initiative. Dr Hubert Minnis, who was prime minister when the Task Force was created, did not respond to this newspaper’s calls and messages seeking comment yesterday. And Michael Pintard, the Opposition’s leader, declined to address the ATI Consulting report until he had read it. “I want to be well-informed in speaking about it given the way the Prime Minister has positioned the story as startling and so forth,” he added. Mr Davis, addressing the report yesterday, said: “In the general findings, 18 categories of major deficiencies were noted. These ranged from a widespread lack of record-keeping, and widespread inconsistencies relating to the sums of money handled, to a complete absence of minutes being kept of meetings, agreements and actions. “In other words, although tens of millions of the Bahamian people’s dollars were being spent, not even the most basic safeguards were in place. A government that [preached] about transparency at great length and at every opportunity did not conduct even the most basic oversight of a major government initiative. This audit is astounding in documenting the failures of the government in establishing reporting and monitoring protocols, or internal controls.”
NOTICE
NOTICE is hereby given that NARENDRA H. B. EKANAYAKE of No. 11 Waterloo Street, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
IN THE ESTATE OF GARLAND WAYDE SANDS late of Cloister Drive, Paradise Island one of the Islands of The Commonwealth of The Bahamas. Deceased. NOTICE is hereby given that all persons having any claims against the above-named Estate are required on or before the 1st day of June A. D., 2022 to send their names and addresses and particulars of their debts or claims to the undersigned in writing or in default thereof they will be excluded from the benefit of any distribution AND all persons indebted to the said Estate are hereby requested to pay their respective debts to the undersigned on or before the date above mentioned. AND NOTICE is hereby also given that at the expiration of the time period above mentioned, the assets of the late GARLAND WAYDE SANDS will be distributed among the persons entitled thereto having regard only to the claims of which the Executor shall then have had notice in writing. Dated this 2nd day of May, A. D. 2022 Roberts, Isaacs & Ward, Unit No.2, Cable Beach Court Professional Centre, 400 West Bay Street, Nassau, Bahamas.
THE TRIBUNE
Tuesday, May 17, 2022, PAGE 21
WHAT NEXT FOR CRYPTOS? By Ricardo Evangelista
A
s the era of cheap money comes to an end, so do the conditions that propelled the price of Bitcoin and other crypto assets to the dizzying highs reached at the end of last year. At the time of writing, Bitcoin was trading just above $27,000, a drop of more than 60 percent from all-time maximum of almost $69,000 touched last November. The last time Bitcoin faced a similar crash was in 2018, when investors assumed that gains recorded during the previous 12 months, rising from around $1,000 in January to almost $20,000 by year-end, were the result of a bubble and decided to cash in. This triggered an avalanche of sell orders that eventually, 12 months later, drove the price down to below $4,000 - a drop of 80 percent. This time around the reasons for the crypto devaluation are more
complex. There is still an important speculative element behind the current market dynamic, but the main driver for the selling pressure is the ongoing tightening of monetary policy by the world’s central banks. This change of stance, triggered by rising inflation, is driving a hawkish tilt towards steeper interest rates and reduced asset purchases, shifting the mood in the financial markets. A perfect storm of inflation, energy crisis, draconian COVID containment measures in China, and the war in Ukraine, forced central banks to withdraw stimulus monetary policies, which in turn
reduced risk appetite and liquidity in the markets, as the outlook for global economic growth deteriorated. Amid such a scenario, investors are reconsidering their strategies, ditching risk-related assets and converting large portions of their portfolios into cash. After the bonanza of the COVID-era stimulus, which generated uniquely supportive conditions for risk-related assets such as growth stocks and cryptos, the tide is turning and the tech-heavy Nasdaq index is already in a bear market, having lost almost 30 percent relative to the high watermark touched in November 2021. However, in the case of Bitcoin, the scenario could be even
BITCOIN ROLLERCOASTER bleaker as, unlike stocks of companies, which are supported by the fundamentals and intrinsic value of the underlying business, there is little more than the belief of investors in higher future prices to support its value. As the markets’ risk appetite evaporates, one wonders where the bottom may be for cryptos. Nevertheless, some see the current conditions as an opportunity. Buying the dip is an old investment strategy, where investors with a
long-term plan take advantage of bearish market conditions to buy at a discount, aiming to cash in as prices eventually recover. The crash of 2018 was a good time to apply such a strategy. Those who bought Bitcoin at $3,000 in 2018, and selling less than then years later, when it was close to reaching $70,000, realised a return on investment close to 2000 percent. However, we must not forget that past performance is not a guarantee of
future results. Still, for those who are willing to continue to bet on future crypto gains, a balanced strategy will require portfolio diversification and careful money management. Only investing money that is not required elsewhere, in a range of coins, that offer hedging against each other, and not worrying too much about the short to mediumterm performance. This is because conditions may yet deteriorate before they get better.
NEW BPL CHIEF PLEDGES RENEWABLE ENERGY FOCUS By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net BAHAMAS Power and Light’s (BPL) newlyappointed chief executive has pledged to make the Government’s renewable energy focus a reality during his tenure at the state-owned energy monopoly.
Shevonn Cambridge, who in his previous post was responsible for regulating BPL at the Utilities Regulation and Competition Authority (URCA), said: “The renewable energy focus as laid out by the regulatory authority deals with trying to get a greater participation from residential consumers and small commercial ones.
“That programme was expanded to deal with larger commercial and government entities and, as you would have heard, the Prime Minister said on several occasions that the Government’s pushing for greater integration of renewables into the generation mix. “So part of my role here at BPL is going to be to facilitate that, and that is
also going to include some utility-generated projects of its own, so there’ll be some utility-scale generation projects put in place by BPL as well.” Philip Davis QC, who was speaking at the Caribbean Electric Utility Services Corporation (CARILEC) chief executives and leadership conference over the weekend, said: “We are engaging in public-private
“The devastating effects of climate change have caused us to draw attention to the fact that we are fighting for our lives. While we want to shore up our resilience to the effects of climate change, my government recently debated and passed an Act called the Climate Change and Carbon Market Initiatives Act.” The Act provides a mechanism for realising financial benefits from the trade in carbon credits, ensuring this will be regulated.
partnerships (PPPs) and solidifying plans for a robust infrastructure investment plan. “We have seen the devastating effects of hurricanes and other weather events. I lay a challenge to all countries to press towards enabling innovations that will achieve the collective goal of having at least 30 percent renewable energy sources by 2030.
‘THEY WANTED GOV’T TO BUY THE GRAND LUCAYAN TWICE’ FROM PAGE 24 gestation period for the improvements for getting redevelopment of the hotel property and the various resorts in the complex. In other words, they wanted a sweetheart deal and to us it made no sense. None of it made any sense. They wanted to leverage the concessions, incentives and subventions they got on the original deal.” Mr Scott said he would have been unable “to look myself in the mirror” had the revised Royal Caribbean/ITM deal, which was watered down considerably due to COVID-19’s devastating economic impact and the cruise line’s failure to conclude a deal with Hutchison Whampoa-controlled Freeport Harbour Company for additional cruise berths, ever gone through. He added that the details were “counter-productive” to all business principles. The former Grand Lucayan chairman spoke after Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, told the House of Assembly that the final deal offered by the Bahamas Ports International duo would have required the Government to effectively finance $45m or 95 percent of the purchase price for it. Besides seeking “an upfront concession payment” worth $12m to go towards the purchase price, he confirmed that Royal Caribbean and ITM also wanted the Government to provide vendor financing via a $33m mortgage that was to be paid-off over a ten-year period. The Grand Lucayan’s redevelopment, and the timelines for doing so, were also watered down significantly and pushed back to the decade’s latter half. Mr Cooper, acknowledging that the former Board had deemed such terms to not be in the Bahamian people’s best interests, also noted that the joint venture had wanted the Government to provide it with $100m in “cash concessions” over a 12-year period - averaging more than $8m per year - on top of the traditional tax breaks and investment
CHESTER COOPER incentives granted to resort developers. “By November 2020, the Bahamas Ports International ‘best and final offer’ for the purchase of the hotel property was for $50m, with government contributing $100m in cash concessions to Bahamas Ports International over a 12-year-period,” Mr Cooper said. “To be clear, this meant that the Government of The Bahamas was asked to pay around $10m per year directly to the purchaser to help with redeveloping the property. “This was in addition to other concessions and caveats. For example, of the $50m purchase price, Bahamas Ports International asked for an upfront $12m concession payment to be credited toward the purchase price. Also included in the $50m sale price was a government loan to Bahamas Ports International....... “The new proposal also asked the Government to provide a $33m mortgage as part of financing of the $50m purchase price in an amortising loan with a two-year grace period, a one-year interest only period and repayment over ten years at an interest rate of six percent for the first five years and eight percent for the last five years.” In return for agreeing to a financial deal heavily weighted in favour of ITM/ Royal Caribbean, Freeport and the wider Bahamas would have received a much delayed and revised redevelopment plan for the Grand Lucayan. “Bahamas Ports International proposed to develop the
property in three phases rather than two, whereby initially only 25 rooms at Lighthouse Pointe would be opened in 2022, to be ‘grown with demand’, as opposed to the original 500 rooms Breaker’s Cay Hotel by mid-2022,” Mr Cooper said. “The new proposal had no timeline for the Breaker’s Cay hotel opening. The new proposal also deferred the opening of three new cruise ship berths to 2027...... The then-board did not find that proposal to be in the best interest of the Government or the Bahamian people and said so publicly. And upon coming to office and reviewing the proposal, the new administration concurred, to put it mildly. “The new proposal was not a realistic or palpable arrangement after our significant investment on behalf of the taxpayers. Further, on coming to office we met with Royal Caribbean who indicated that they would only start construction during the second half of the decade; that’s at least five to six years later. We considered this to be wholly unacceptable to the people of Grand Bahama who have been waiting for a rather long time for relief.” With Bahamian taxpayers having pumped $150m in direct subsidies into the Grand Lucayan to keep it operational during the three years to end-September 2021, Mr Cooper estimated that “millions more” have been incurred in indirect costs. He added that the resort consumes a monthly subsidy of between $1.3m-$1.5m, and some $10m-$15m in additional expenses are likely to be made before the latest attempt to sell it concludes. The deputy prime minister also reaffirmed that Hutchison Whampoa pocketed the $80m Hurricane Matthew insurance proceeds rather than reinvest the $30m required to make the Grand Lucayan fully operational. A $20m insurance claim related to Hurricane Dorian resulted in a $13m payout and settlement, with the Government granting ITM/Royal Caribbean a $15m discount on the $65m purchase price that lowered it to $50m.
GRAND LUCAYAN RESORT
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FOOD TASK FORCE URGENCY MAY HAVE HURT EFFICIENCY FROM PAGE 24
$53m in taxpayer monies, the ORG chief said it was important to assess the Task Force’s work against the crisis it was formed to address. He also questioned how the 138-page audit, by Kershala Albury, president and principal consultant at her own firm, ATI Company Ltd, will dovetail and play out with the Auditor General’s own probe of the COVID food assistance initiative. “It clearly seems like there’s some disconnect in the process,” Mr Aubry told this newspaper. “It’s not necessarily clear where the Auditor General’s audit comes in. Will that be consistent? Will that present something different?
Will it have all the information?” Philip Davis QC has repeatedly complained that the Task Force and its NGO members have failed to provide all necessary records and information to ATI, but multiple sources have pointed out that the Auditor General’s Office has the necessary legal powers to compel compliance and document handover. Mr Aubry, meanwhile, said the context in which the Task Force was created is important in assessing its performance. “This was an initiative that didn’t have a precedent, and in doing so there will be things I’m sure that were done well and others that need to be sorted out,” he added, ORG having been
MATT AUBRY involved in its creation and structuring. “I’m sure there were key instances where things were not implemented in the most efficient or effective way because it had never been done before...It was a very quick creation and
execution, and it has to be said that the scale of this operation was not typical for any non-profit company in The Bahamas. This was a major scale up for the Government side, a major scale up for the non-profits.” With hurricane season now looming, Mr Aubry said “the stake is on both sides” to learn vital lessons and understanding from the National Food Distribution Task Force experience so that the Government and NGOs can better partner should a catastrophic weather event strike. Mr Davis, in his latest attack on the Task Force, said: “Even in the instances where information was provided, only aggregate totals were offered, with
none of the supporting documents that would be critical to corroborate the figures. There’s no back-up provided. No contracts, no cheques, no receipts and no bank statements to support the information. No evidence, in other words. “Given the sums of money involved, the deficiencies are breathtaking. Public officers did not have oversight of the expenditure of funds. Expenditure of millions of dollars remains unexplained and undocumented. No audited financial statements have been provided, so information provided by the NGOs cannot be confirmed. “Information dashboards presented by the Task Force did not reconcile to
‘LORD KNOWS’ FREEPORT REQUIRES TOURISM SCALE FROM PAGE 24 differentiate themselves and compete with Nassau. “I was delighted they have found a purchaser for the property,” the former minister told this newspaper. “Obviously our deal was scuttled by the arrival of the COVID-19 pandemic. It’s the start of a long journey, and there’s quite some time to go before it completes. It’s good that they’ve identified a credible
developer that has some hotels in their portfolio. We hope they do well. Lord knows Grand Bahama needs it. “We bought it for $65m, and they sold it for $100m. That’s quite remarkable. Obviously it had a little bit more value than we thought it had. There are some hidden costs in that transaction, obviously, the huge one being to get the airport renovated. The redevelopment of the airport has to
go hand-in-hand with the redevelopment of Grand Bahama.” Florida-headquartered Electra America Hospitality Group is effectively a joint venture between Electra America, a real estate developer, operator and financier, and AKA, which is billed as a luxury hotel residences specialist. The group’s website says their partnership, boasting $6.85bn in assets under management, aims “to
capitalise on disruption in the hotel industry” via a focus on acquiring, renovating and managing “well located hotel assets with upside potential in major US markets”. It currently includes two Florida properties, Hotel AKA Brickell in Miami, and Hotel AKA West Palm, in West Palm Beach, among its active portfolio, although the Grand Lucayan represents its first expansion outside the US and UK. “ “What I found as minister of tourism was that Grand Bahama lacked scale,” Mr D’Aguilar told Tribune Business. “They don’t have many hotel rooms, which made it difficult to attract airlift. When you bring on 1,200 rooms, that scale attracts airlift and it feeds on itself. Hopefully this hotel creates an attraction for other hotels and developers, and starts the ball rolling. Maybe this will be the catalyst that starts the process. “The devil is in the details. They have to knock out the Heads of Agreement. I think, at this point,
the deal’s returned a level of optimism as we were optimistic in March 2020. We remain hopeful at this time that Grand Bahama gets to the promised land. We thought we were there in March 2020. Who would have thought a pandemic would come along and scuttle a deal? We remain hopeful this will come to fruition.” Mr Cooper yesterday said the Government has already begun work on increasing airlift to Grand Bahama. “Western Air has agreed to fly a Fort Lauderdale to Freeport route this summer, and Bahamasair will fly more flights from Fort. Lauderdale to Freeport as well,” he told the House of Assembly. “Also, on November 10, an inaugural Bahamasair flight will be direct from Charlotte, North Carolina to Freeport, Grand Bahama. We promised to bring energy to the economy of Grand Bahama and we are doing just that.” As for the Electra purchase, Mr Cooper said it has agreed a Memorandum of Understanding (MoU)
J.S. Johnson & Company, Limited hereby notifies all of its shareholders that based on unaudited results for the quarter ended March 31st, 2022, the Board of Directors has declared an interim dividend of fifteen cents ($0.15 cents) per ordinary share to be paid on Friday, 27th May, 2022 to all shareholders of record as of Friday, 20th May, 2022.
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the information provided by NGOs. So, for example, just to highlight the point, if the Task Force is saying that they gave an NGO $100,000, and the NGO is saying they only received $80,000, what’s happened to the difference?” he continued. “In fact, numerous instances have been identified when the NGOs concerned did not account for the total amount funds received from the Government. There was no consistent system of record-keeping at the Task Force or NGO level. And it is simply not credible to believe that from May 2020 to October 2021 they were too busy to keep proper records.”
with the Government and will pay a $5m deposit once a sales agreement is signed. That deposit becomes nonrefundable after a 60-day due diligence period closes, with the $95m balance to be paid within 120 days of the MoU signing. “The Government has committed to standard concessions under the Hotels Encouragement Act,” Mr Cooper added, although he gave no details. “Electra has committed to an estimated $300m renovation to rebuild the Grand Lucayan into an environmentally sustainable, luxury resort.” Three resort properties were detailed. A four to five-star branded luxury lifestyle hotel, featuring 198 rooms and 24 villas and targeted at corporate and leisure business; a fourstar convention hotel with 535 rooms, featuring an amphitheatre and convention centre; and a 257-room condo-hotel style family resort with suites that are double the size of the Grand Lucayan’s existing rooms. “Among the amenities at the resort there will be a world-class marina, a casino operated by a renowned casino operator and a golf course with an internationally-branded country club that will feature additional newly-built facilities and activities,” Mr Cooper said.”At the golf club there will be a full-service restaurant and golf school, there will newly built golf villas on the golf course grounds. “The new resort will have at least 11 world-class restaurants and ten bars featuring Bahamian and international food and beverage options..... We expect this deal to be complete by September at the latest, with renovations and new construction immediately after but no later than January 1, 2023. Construction will be phased and some component of the resort will remain open at all times. “Electra intends to retain current staffing levels that now exist as a minimum, in the operations, during the construction phase. All renovations and construction are expected to be complete by January 1, 2025, with the first renovated hotel to come on stream at the beginning of 2024,” the deputy prime minister added. “The casino renovation is expected to be complete in the summer of 2024, and the other renovations and new builds coming on stream from the beginning of 2025 through the summer of 2025. The resort reconstruction and reopening is expected to create approximately 2,000 construction jobs and 1,000 permanent jobs. At least 80 percent of all jobs are to go to Bahamians.”
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Fraudsters plunder $2m through bank’s blunder By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN financial institution’s “serious error and negligence” resulted in fraudsters plundering more than $2m from one of its client’s accounts, the Supreme Court has revealed. Justice Ian Winder, in a May 12, 2022, ruling blasted CBH Bahamas for “failing to exercise the requisite due care and skill expected” when it failed to detect signs it was communicating with criminals rather than the Moldovan arts and antiquities dealer who was the account’s ultimate beneficial owner. After an e-mail used by Andrei Rujnicov’s secretary (now his wife) had been compromised by
• CBH Bahamas blasted for ‘serious error and negligence’ • Failed to detect scam despite incorrect client name, e-mail • Only became suspicious when account almost exhausted a so-called “phishing” attack, CBH Bahamas bankers did not realise that both the address and name used by the fraudsters were spelled incorrectly. And they missed these vital clues when corresponding, and even speaking via telephone, to the persons impersonating Mr Rujnicov.
As a result, acting on the fraudsters’ instructions, the bank transferred more than $2m from the art dealer’s account in a series of 12 transactions that took place between October 16, 2014, and December 11 that same year. CBH Bahamas and its staff only became suspicious when they realised the account
belonging to Mr Rujnicov and his entity, Zampa Overseas, had been almost totally depleted and the fraudsters were demanding more funds in excess of the remaining balance. CBH Bahamas, in its defence, sought to blame the loss on the Moldovan arts dealer’s failure to inform it on a timely basis that his assistant’s e-mail may have been compromised. However, Justice Winder said that upon reviewing the evidence and testimony at trial he was “satisfied” the bank “was indeed guilty of serious error”. “It cannot be seriously disputed that CBH was in breach of its mandate with Zampa,” he wrote. “The sum of $1.62m was paid from the account by CBH, net of refunds, without Zampa’s
PM renews assault on COVID food initiative By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE PRIME Minister yesterday renewed his assault on “astounding” deficiencies with the COVID-19 food assistance initiative even though a 138-page audit report produced no evidence of corruption, fraud or misappropriation of funds. Philip Davis QC, while tabling the report in the House of Assembly, effectively doubled down on his criticisms of the former Minnis administration’s programme, and the National Food Distribution Task Force that oversaw it, by asserting that two non-profits that collectively received almost $15.158m - some 28.6 percent of the total $53m spent have yet to produce financial records showing how the monies were used. Blasting what he sought to portray as a lack of transparency and accountability, the Prime Minister also introduced new allegations.
• Slams ‘astounding’ control, record deficiencies • But report makes no corruption, fraud findings • Two non-profits, with 28.6%, not accounting He asserted that some of the fees charged by providers were “exorbitant”, zeroing in on a $6 per food parcel “delivery fee” that was invoiced by Showman Bahamas to Hands for Hunger, one of the nongovernmental organisations (NGO) responsible for distributing food aid
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
PHILIP DAVIS QC to thousands of needy Bahamian families at COVID-19’s peak. Mr Davis said the report by Kershala Albury, president and principal consultant at her own firm, ATI Company Ltd, had uncovered “18 categories of major deficiencies” largely relating to what he branded as poor record-keeping, lack of documentation and the absence of internal controls over how taxpayer monies were spent to feed more than 55,000 Bahamian families after the economy collapsed almost overnight.
SEE PAGE 20
‘Lord knows’ Freeport requires tourism scale
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
AN EX-TOURISM minister yesterday voiced optimism that the Grand Lucayan’s sale will be the “catalyst” that builds scale by luring other resort developers to Freeport, adding: “Lord knows Grand Bahama needs it.” Dionisio D’Aguilar, who held the post under the former Minnis government, told Tribune Business that the $100m purchase price negotiated by the Davis administration with Electra America Hospitality Group appears “quite remarkable” and suggests the Grand Lucayan hold more value than previously thought. Noting that the resort’s sale, and proposed $300m redevelopment under Electra America, will “go hand-in-hand” with the revival of Grand Bahama International Airport, he added that the island’s failure to regain critical mass and room inventory following the Royal Oasis’ 2004 closure had made it extremely difficult to attract sufficient
SEE PAGE 22
SEE PAGE 20
‘They wanted Gov’t to buy the Grand Lucayan twice’
Food Task Force urgency may have hurt efficiency THE SPEED and urgency with which the COVID-19 Food Distribution Task Force had to be created will likely mean some elements were not executed “in the most efficient or effective way”, a governance reformer argued yesterday. Matt Aubry, the Organisation for Responsible Governance’s (ORG) executive director, told Tribune Business that both the Government and non-governmental organisations (NGOs) that comprised the Task Force had to “scale up” to an extent never imagined or conceived of before to feed more than 55,000 Bahamian families after the economy collapsed virtually overnight at the COVID-19 pandemic’s peak. Speaking after the Prime Minister renewed his assault with the tabling of a 138-page audit of the COVID food assistance initiative in the House of Assembly, which he used to buttress further charges regarding lack of transparency and accountability surrounding the use of
consent. CBH had paid out almost the entirety of the sums standing to Zampa’s account in ten transactions before realising it had no consent from Zampa to do so. “In fact, it was only because nearly all of the funds had been depleted, and the fraudster was seeking additional funds in excess of the balance, that CBH appreciated that fraud had been conducted and CBH then sought to attempt to recover the monies paid out. In the course of the fraud, CBH accepted correspondence that was flawed on its face (executed by someone called Andre Ruzhnikov) and sent by the fraudulent e-mail to amend the account mandate.”
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
DIONISIO D’AGUILAR airlift capacity and stopover visitor numbers for the past 17-plus years. Mr D’Aguilar, speaking after his successor, Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, unveiled further details on the Electra America deal in the House of Assembly, said the buyer will have to “create a Grand Bahama appeal and a destination that wows the customer” if the Grand Lucayan and, by extension, the island are to both
SEE PAGE 22
THE GRAND Lucayan’s ex-chairman yesterday said the Government would “effectively have been buying the hotel a second time” had it agreed to Royal Caribbean and ITM Group’s demand it finance 95 percent of the $50m purchase price. Michael Scott QC, speaking after more details of the former Minnis administration’s now-aborted deal with the Bahamas Ports International joint venture were revealed, told Tribune Business that the post-COVID deal proposed by the cruise line and its partner would have required the Government “in effect to give them the hotel in exchange for bringing cruise passengers” to Freeport. “I want the record to be clear: None of my Board, from myself down to every
MICHAEL SCOTT single director on that Board, was in any way prepared to approve or ratify the deal that Royal Caribbean wanted in a modified agreement,” he said. “Not one director was prepared to go along with that, not one..... “Essentially they wanted us to pay them to take the hotel away, which was ridiculous. In exchange for what? A drawn-out
SEE PAGE 21