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Biggest And Best!
Volume: 120 No.251, November 23, 2022
THE PEOPLE’S PAPER: PRICE–$1
FTX SPENT $300M ON PROPERTY BUYS Court documents reveal valuation of real estate spree By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN realtor yesterday estimated that the collapsed FTX crypto currency exchange spent $250m and “probably more” on acquiring New Providence real estate, adding: “It was great while it lasted.” Ryan Knowles, of Maison Bahamas Real Estate, told Tribune Business the company’s spectacular implosion in little more than a week had not cost
local realtors “any deals” because what some have described as a $300m buying spree had finished. The latter valuation was placed on FTX’s Bahamas real estate purchases during yesterday’s Delaware Bankruptcy Court proceedings, although no documents or other evidence were provided to support this figure. An earlier Reuters report said the crypto exchange had spent $121m on 19 New Providence property acquisitions in 14 months. FULL STORY - SEE BUSINESS
CONTRACT AWARDED ‘SOON’ FOR CHILDREN’S WARD WORK A CONTRACT for renovation works on the Children’s Ward at Princess Margaret Hospital is expected to be awarded before the end of the month. Photos showing missing ceiling tiles, cracked floors and hospital supplies piled up on each other were recently sent to this newspaper, highlighting the desperate need for renovations at the Children’s Ward.
Upon seeing these photos, The Tribune contacted Health and Wellness Minister Dr Michael Darville, who confirmed that the sights depicted in the photographs were sections of the paediatric ward. He said upon assuming office last year, he found portions of the ward in a bad state and blamed the Minnis administration for not addressing the problem. SEE PAGE THREE
S&P SAYS FTX IMPLOSION WILL NOT HURT NATION By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
STANDARD & Poor’s (S&P) yesterday gave The Bahamas “breathing room” by maintaining its existing sovereign credit rating while predicting that FTX’s implosion will have “no material adverse impact” for the country. Simon Wilson, the Ministry of Finance’s financial secretary, told Tribune Business that the credit rating agency’s verdict in electing not to follow last month’s Moody’s downgrade “creates a platform for us to go forward” and space for the Davis administration to prove it can execute its fiscal goals and targets. FULL STORY - SEE BUSINESS
GROUPS IN COUNTDOWN TO JUNKANOO By LETRE SWEETING lsweeting@tribunemedia.net
FATHER OF CRASH VICTIM: SHE WAS MY EVERYTHING EBONY MILLER, who died aged 24 in a car crash on Friday morning in Minnesota on her way home from her job working at a hospital. By JADE RUSSELL Mr Miller said his daugh- for her family. She has a jrussell@tribunemedia.net ter was killed in a car crash brother that adores her and on Friday morning while it’s just tragic. “When people drive withTHE father of a Baha- she was on her way home mian woman killed in a from her second job as a out paying attention, then car crash in Minnesota on scribe at one of the major innocent lives are lost. The Friday is struggling to bear hospitals. She died at the good ones are always the scene of the accident. ones that are taken away,” the loss of his daughter. “I am just distraught Mr Miller said. “I have this hole in my Holding back tears, he heart that’s never going to that there are no words. I be filled,” Kermit Miller lost everything when I lost described his daughter as Ebony, she was my future, “brilliant” and someone told The Tribune yesterday. He said 24-year-old hope, and my dreams,” her who dreamt of making a change in the world by Ebony Miller was his “eve- father said. “I sent her away for a becoming a medical doctor rything”, adding she was the best child anyone could better life to make a better one day. life for herself and even SEE PAGE THREE ask for.
Nassau & Bahama Islands’ Leading Newspaper
WITH practices for the upcoming Boxing Day and New Year’s Day Junkanoo parades underway, two group representatives are already claiming victory of the parades. After a more than twoyear hiatus due to the COVID-19 pandemic, public relations director of the Saxons Superstars Kendenique CampbellMoss said practice for the upcoming parades has been very rewarding. “The Saxon Superstars practice has been going immensely well, and I say immensely well, because we’ve been on hiatus for about 2.5 years because of COVID.” SEE PAGE FOUR
ALICIA WALLACE: ANOTHER YEAR OF GOVT FAILING TO ADVANCE WOMEN
- SEE PAGE EIGHT