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News Article
Woman sues Atlantis over 'excessively slippery tile'
February 26, 2010
Woman sues Atlantis over 'excessively slippery tile'

A Michigan woman is suing the Atlantis, alleging that it was negligent when it failed to "require that an appropriate tile be installed for the environment in which it is used."

Nancy Wietek says on February 25, 2008, she slipped on "wet and excessively slippery tile of an outdoor walking path" while a guest at the hotel.

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News Article

February 12, 2014
Online brokerage firm eyes major expansion

Based on a recent boom in the opening of accounts which he attributes to a surge in younger investors entering the stock market, a Nassau-based online brokerage run by a U.S. investor is projecting that he will increase his all-Bahamian staff five-fold in the next "two to three years", and is aiming to invest between $3 million to $5 million in his own premises by 2016.Guy Gentile, CEO and founder of Suretrader.com, told Guardian Business that he is optimistic the company has a "great shot" at capturing up to 10 percent of the $2 billion global market in non-U.S. traders who are looking to buy and sell U.S. stocks and options online.On Saturday, Gentile hired six additional Bahamian staff to his growing office, bringing the number of employees in total to 20. Suretrader.com launched in Nassau in November 2011 in a 600-square foot office, and within 10 months, expanded into a 4,000-square foot space - one which Gentile said Saturday's additions are now helping to fill."Right now we expect that based on current growth we'll be at around 30 employees by the end of the year," said Gentile, adding that the company currently has over 5,000 account holders and is creating around 600 new accounts a month.Looking ahead, the investor said he hopes that he can eventually employ over 100 people at a purpose-built Swiss America building in New Providence within two to three years. Swiss America Securities is the parent company of Suretrader.The company made its decision to hire new staff this weekend to help keep up with what Gentile said is increasing demand for its online trading services. Suretrader competes with U.S. online trading firms for non-U.S. clients."I think with the stock market being so high right now everyone is trying to get into the market especially when you have stocks like Facebook and Twitter; people want to trade these stocks, and because they are trading and they are not your boring stocks, the typical Proctor and Gamble-type stocks that people use every day but don't realize, it's bringing new types of investors into the market," he said."I am seeing a younger population come to trading; we're seeing traders in college opening accounts for the first time."In addition to the popularity of stocks of major social media companies like Facebook and Twitter, Gentile noted that among the recent trends in trading is an "explosion" in interest in "marijuana stocks" - stocks of companies associated with the legalization and regulation of marijuana in certain parts of the United States.While Gentile noted that he does not necessarily support the legalization of marijuana, he said that he believes these types of stocks will become increasingly popular as sentiment in the U.S. seems to tilt towards easing restrictions on the drug and more and more companies spring up to participate in the market for marijuana products.At present, Gentile estimates his company presently handles around half a percent of the total market in non-U.S. clients looking for online brokerage services."We're looking to grow to around 10 to 20 times our size, and to get to those numbers we'll probably need to have a staff of 200 to 300 people over that time," he said."The reason why we are anticipating that growth is because the industry itself is growing, the entire market share is growing, because of these new types of stocks that are trading."The investor described his operation as "not a traditional brokerage service", as no investment advice is given, but similar in a way to an internet service."It's like when you subscribe to BTC and Cable Bahamas, you are getting online...all I am doing is giving you access to the market, I am not telling you what to buy or sell," he said.Describing his vision, Gentile said he has tried to make his Nassau headquarters as close to a Wall Street trading floor as he could get it."We went into a space that was way to big because there were only six of us when we finally moved to the new space. We built it from scratch; the entire interior was a shell, concrete floor, no ceiling, I wanted it to be a space where when you came in you'd feel like you were in a Manhattan brokerage firm. The desks came from a Wall Street firm; I had them shipped over a few weeks ago. We have 30 stations there and 20 filled. I'm looking forward to filling the rest of it," said Gentile.Technology graduates are among the most desired candidates for employment at the company, he added."Basically what we've been doing over last few years is we never stop interview process every week we're interviewing people and grading them, and we keep a pile of people readily available for hire," he said."We know we're going quickly and we want to pull from the stack of resumes on the fly; this is the first time we hired six people in one shot in one go."We do require a bachelors degree but it doesn't have to be in finance, in fact we prefer for it not be in finance, we prefer people with technology background as even though we are a brokerage firm we consider ourselves a tech company that just happens to be a broker so we want to hire people who understand the online world."The investor said he is very happy with his choice of The Bahamas as the base for his operation."Personally, the close proximity to the U.S. made it comfortable for me to get to, and for clients if they want to fly to us, it has a nice international airport for people to come into."It's fixed to the U.S. dollar, that was convenient, and it has a good regulatory framework, which is great for clients because they're dealing with a regulated entity."The brokers are also required to have a Series 7 equivalent qualification. So I can find people to help me build my business. The Bahamas is also known for the hotel industry and their hospitality so to me combining a banking and hospitality is the best of both worlds," he added.

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News Article

November 20, 2014
Tile King Hosted Free Certification for Contractors

Tile King held a free 2-Day seminar and certification course on Tuesday November 18th & Wednesday November 19th for the building industry. The event introduced a new product, Wedi Systems, to The Bahamas...

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News Article

May 25, 2012
SureTrader.com hits 30K transactions per day

The founder of SureTrader.com, an online brokerage founded early this year, says the website is averaging 30,000 transactions each day, making it the largest dealer in the country.
Guy Gentile, the CEO, is also the creator of SpeedTrader.com, the U.S. online trading broker that earns $20 million per year in revenue.
He told Guardian Business that his foray into The Bahamas "keeps growing", and has got to the point where he can loosen the reigns. Gentile hired Phillip Dorsett, formerly of the Royal Bank of Canada, as his Bahamian president.
SureTrader.com currently employs eight Bahamians, and given the level of growth, Gentile expects to double that by the end of the year.
"We're up to more than 900 accounts now," he revealed. "We're averaging around 30,000 transactions per day. I would have to believe that would make us the biggest broker dealer on the island. It has grown through a lot of word of mouth. We reward clients that refer us to other clients. There is an incentive to get new business. That is what has been working for us."
The brokerage is now in the process of moving from its 700-square-foot office in the British American Financial Center, off Bay Street, and shifting over to a 4,000-square-foot layout in the Elizabeth on Bay complex.
The move, he said, represents an additional $200,000 investment.
Catering mostly to international clients, SureTrader.com removes some of the regulations governing traders in Canada, the U.S. and Europe. It is not subject to the Pattern Day Trader Rule, which prevents investors with less than $25,000 from performing more than three trades in any five-day rolling period.
The company also offers a wider margin of leverage to clients, giving someone with $5,000 far more buying power.
"I think the current client base will be doubled by the end of the year. I hit the ground running. I don't think there are too many people coming to the island with a brand new concept that has never been tested. There is nothing like this in The Bahamas," according to Gentile.
Experience with setting up online brokerages in the U.S. helped tremendously, he explained, and creating synergies between them reduced overhead and the resources required. Gentile told Guardian Business that the brokerage here in The Bahamas is already well into the black.
He is already eyeing his next business venture, and considering a similar business model for another Caribbean nation.
"Luckily the business is in a position where it has generated decent revenue and profits. I can pay for its expansion. It doesn't have to come out of pocket," he added.
Gentile is also thinking about an expansion into wealth management, noting that The Bahamas and its financial services industry could be poised for greater international exposure.
He speculated SureTrader.com should generate a return on his investment of up to 500 percent in the first 12 months.

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News Article

December 12, 2013
Live and act like Christians

May the God who gives endurance and encouragement give you a spirit of unity among yourselves as you follow Christ Jesus, so that with one heart and mouth you may glorify the God and Father of our Lord Jesus Christ.
Accept one another, then, just as Christ accepted you, in order to bring praise to God. For I tell you that Christ has become a servant of the Jews on behalf of God's truth, to confirm the promises made to the patriarchs so that the Gentiles may glorify God for his mercy, as it is written. - Romans 15:5-9
We all have given names, and we have our family names. Our whole family history, good or bad, is tied up in our family name. Normally when we mention our family name, people determine whether they want to befriend us or not.
The family name is something we inherit at birth. We should treat it with respect and carry it with pride and dignity, never bringing it into dispute. However, there are some who, because of the lifestyle they choose, drag their family name through the mire.
They care less that the things they do cause embarrassment and dishonor to their family. Yes, their unethical and deviant behavior, in many cases, cast aspersions upon the family.
In the text above, the apostle tells us to bring praise to God through the way that we live. He wrote this epistle to the church at Rome because, at the time, there was a rift between the Jewish and the Gentile Christians.
Similar to many of us Christians today, the Jewish Christians felt that they had a special claim on Christ. The early Jewish Christians who were not very receptive to the Gentiles coming into the new church wanted the Gentile converts to live according to the Old Covenant, which stipulated circumcision of the flesh.
Paul, however, corrects this by informing the church that in Christ, it is a circumcision of the heart, not the body. In coming to earth, Christ fulfilled the requirement of the old covenant.
The apostle is showing here that Christ died for all and that the most important thing about the faith is that Christians get along together. Instead of fighting, we should glorify God in the way we interact with one another, particularly in brotherly love.
So often we Christians spend more time fighting with one another than pointing others to Christ. We have been redeemed through the cleansing blood of Christ. Therefore, we are one.
Through the waters of baptism, we have been cleansed and brought into the family of God and are called Christians. Therefore, like the family name, we Christians have a responsibility to guard and protect it. Our Christian heritage is special. It should never be brought into dispute.
As Christians, we should refrain from infighting with other Christian brothers and sisters and, instead, spend our time pointing one another to the cross of Jesus Christ. That is what we are called to do. Our lives should be an open book for all to see and admire.
When people see us living out our Christian faith, they too should want to become Christians.
Regretfully, many times people are driven away from the faith because of the way some Christians live.
When we live contrary to the Christian faith, we bring God's name into dispute and defame the cross of Jesus Christ. The apostle implores us, "As you follow Christ Jesus, so that with one heart and mouth you may glorify the God and Father of our Lord Jesus Christ."
As Christians, we don't just carry an insignificant name. It is a special name, purchased for us through the blood of Jesus Christ. He was convicted as a criminal, condemned to death, crucified and died on a cruel cross and came back from the dead that we may be united with him in baptism and called sons and daughters of God. Live and act like Christians. Amen.

o Reverend Samuel M. Boodle, pastor at The Lutheran Church of Nassau, can be reached at P.O. Box N 4794, Nassau, Bahamas; or telephone 323-4107; e-mail: lutheranchurch@coralwave.com; website: www.Nassaulutheranchurch.org.

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News Article

June 27, 2011
Cables: FNM had 'hostile takeover' of civil service

When it came to office in 2007, the Ingraham administration was greeted by a recalcitrant civil service that was so bureaucratic and inefficient in its operations that the new government felt it was in the midst of a "hostile takeover", according to cables obtained through WikiLeaks.

In several cables, the Americans highlight concerns about unhelpful civil servants, bureaucratic frustrations and inefficient operations. In a 2003 cable, a U.S. Embassy official wrote: "The Bahamian civil service has honed sloth and delay disguised as deliberation and consensus-building to a fine art."

In a 2007 cable, another official wrote that the new Deputy Prime Minister and Minister of Foreign Affairs Brent Symonette had encouraged "informal back-channel communication" with U.S. Embassy personnel, apparently because he had little faith in civil servants.

"He explained that the new government was effectively in the midst of a 'hostile takeover' of the bureaucracy and that it would take time for them to get a handle on the machinery of government.

"He told the Charge that we should not assume that information provided to ministry staff -- or diplomatic representatives abroad -- would get to him."

As a result, Symonette suggested weekly or bi-weekly meetings with the then Charge d' Affaires Dr. Brent Hardt to review priority issues so he could ensure necessary follow up.

"The charge welcomed the suggestion and expressed his appreciation for the openness and commitment to action on key issues," said the 2007 cable.

"The foreign minister also noted that in his role as DPM, [Prime Minister Hubert Ingraham] wanted him to be a troubleshooter who could delve into issues that cut across ministerial portfolios.

"In contrast to former PM (Perry) Christie's consensus-oriented government, PM Ingraham's government will be top-down, and Symonette has offered us rare access at the top. This access and the open lines of communication suggest that an already close bilateral relationship will get even better under Ingraham's and Symonette's stewardship."

In a cable written in 2008, a U.S. Embassy official commented on restructuring efforts in certain public service departments, as well as announced Cabinet changes.

"The reassignment of so many senior civil servants along with the Cabinet reshuffle may indicate that the Ingraham administration is completing its hostile takeover of the recalcitrant bureaucracy left over from the previous government," the cable said.

Those changes came as the global economic crisis began to take hold and The Bahamas was starting to feel the effects in a major way.
"The greater concentration of portfolios in the hands of the prime minister and deputy prime minister also indicates a firmer grip on the reins," an embassy official wrote.

"High-profile new government initiatives on sustainable energy, tourism, and education, continue to reflect the key importance of the Government of The Bahamas'] relationship with the U.S. "They also come in the face of painfully high energy prices for consumers and a rapidly softening tourism economy, leading to increasing insecurity about jobs.

"Visitor arrivals have declined even more steeply than usual in the traditional off-season, according to newspaper reports and anecdotal evidence, leaving premier Bahamian tourist destinations nearly empty and hotels struggling to fill rooms.

"The fractious opposition lacks a coherent social program or a response to the current, unfavorable economic trends."
 
 

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News Article

October 19, 2010
Stileet Video and Album Release Party, October 30th

Freeport, Grand Bahama

- Stileet Entertainment Worldwide and Out Da Sea Bar & Grill Presents:

Stileet Video and Album Release Party on October 30th at 9:00pm at Out Da Sea Bar & Grill. Hosted by Mighty Pencil and Evon Batilis.

Performing Live: Ronnie Butler, BJ Smith Sailor Man Songs, Spice & Crew, Avvy Ghost Move, Ruppa Pum Pum and The Man Himself "STILLET"...

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News Article

October 21, 2010
Stileet Video and Album Release Party, October 30th

Freeport, Grand Bahama

- Stileet Entertainment Worldwide and Out Da Sea Bar & Grill Presents:

Stileet Video and Album Release Party on October 30th at 9:00pm at Out Da Sea Bar & Grill. Hosted by Mighty Pencil and Evon Batilis.

Performing Live: Ronnie Butler, BJ Smith Sailor Man Songs, Spice & Crew, Avvy Ghost Move, Ruppa Pum Pum and The Man Himself "STILLET"...

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News Article

October 27, 2010
Stileet Video and Album Release Party, October 30th

Freeport, Grand Bahama

- Stileet Entertainment Worldwide and Out Da Sea Bar & Grill Presents:

Stileet Video and Album Release Party on October 30th at 9:00pm at Out Da Sea Bar & Grill. Hosted by Mighty Pencil and Evon Batilis.

Performing Live: Ronnie Butler, BJ Smith Sailor Man Songs, Spice & Crew, Avvy Ghost Move, Ruppa Pum Pum and The Man Himself "STILLET"...

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News Article

March 07, 2011
Looking back at versatile grid star Charlie Johnson

The versatile athlete is that extra dimension that attracts additional spectators to venues. He/she, whether of the multi-sports variety or simply single-sport, normally creates much more excitement than those who are limited talent-wise.
In The Bahamas, Glenroy ‘Flo’ Saunders and Eddie Ford usually come quickly to mind when the subject of sports versatility comes up. There were a lot others also who gave fans a lot for their dollars. On a wider scope, Deion Saunders is one of the ultimate versatile performers. He played 11 seasons in the National Football League (NFL) and was a Pro Bowl selection on eight occasions. He won two defensive player of the year awards and two Super Bowl ...

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