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News Article
Why you vex

"I vex because I am tired of hearing about the sale of BTC. Government should let the new company form their own phone company for those who want change and those who don't want change let them be stuck with Stone Age BTC. I bet you all them rowing would be the first ones to switch over to the new phone company.

"I vex also because of the stupid times road works decides to do their work and how long they take. Should have done all that work when Shirley Street was being paved. Use your head!"

- Fed Up With
Stupidness.

"I vex because I went to go and pay my cell phone bill last week but couldn't pay it because they went on strike. But come Monday they were quick t ...

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News Article
Branville McCartney resigns from FNM

Citing "personal convictions" Bamboo Town MP Branville McCartney resigned from the Free National Movement this morning, minutes after his party voted in favor of the 51 percent sale of BTC to Cable and Wireless.
McCartney, who was not present for the vote, fought his way through hundreds of shouting protesters to deliver his resignation letter to party leader Prime Minister Hubert Ingraham, who is the lead speaker on the privatization debate now taking place in the House of Assembly.
McCartney posted a short statement on his Facebook page, and sent out an e-mail via his constituency office, explaining the decision.
"Due to personal
convictions, today I have resigned from the Free National ...

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Movie
Dinner for Schmucks
  • Genre : Comedy
  • Rating : T - 15yrs and Older

Tim (Rudd) is a rising executive who "succeeds" in finding the perfect guest, IRS employee Barry (Carell), for his boss's monthly event, a so-called "dinner for idiots," which offers certain advantages to the exec who shows up with the biggest buffoo...


News Article
International telecom, TV expert weighs in on BTC sale: CW highly knowledgeable

The
deputy chairman of a high tech start-up in The Bahamas and the former
CEO of Reuters TV today weighed in on the sale of 51% of the shares of
BTC to Cable & Wireless Communications (CWC), predicting that CWC's
know-how in broadband would strengthen BTC's online services and build a
part of the business that has yet to reach its potential.

Brian Quinn, a long-time resident of The Bahamas and one of the most
respected voices in the international telecommunications industry...

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News Article
What is seen and what is not seen in the case of BTC

Dear Editor,
In 1848 the French Economist Frederic Bastiat published an essay titled "What Is Seen and What Is Not Seen" and it's very relevant to the sale of BTC by the Government of The Bahamas today.
As Rob Norton tells us in an article for the Library of Economics and Liberty:
"...Frédéric Bastiat often distinguished in his writing between the "seen" and the "unseen". The seen were the obvious visible consequences of an action or policy. The unseen were the less obvious, and often unintended, consequences. In his famous essay "What Is Seen and What Is Not Seen," Bastiat wrote:
"There is only one difference between a bad economis ...

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News Article
BTC union holds demonstration in Grand Bahama

FREEPORT - BTC workers and union officials staged a demonstration in Grand Bahama on Tuesday opposing the sale of a majority of the company's shares to Cable and Wireless.

Rex Grant, area vice president of the BCPMU, and Paul Moss, attorney for the BCPOU, spoke with the media about government's signing of a memorandum of understanding to sell BTC, which was tabled in Parliament yesterday.

Mr Grant was surprised that, despite a Supreme Court injunction halting the sale of BTC, the government has gone ahead and signed a document/contract to sell the shares in BTC.

The area vice president said that the Supreme Court judge had set a date of February 14 to give his decision on the matter.

" ...

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Movie
Everything Must Go Poster Top 5000 Everything Must Go
  • Genre : Comedy, Drama
  • Rating : C - 18yrs and Older

When an alcoholic relapses, causing him to lose his wife and his job, he holds a yard sale on his front lawn in an attempt to start over. A new neighbor might be the key to his return to form. ...


News Article
TRIBUNE ONLINE POLL COMMENTS

POLL QUESTION

Should the government continue with the sale of BTC to Cable and Wireless considering the threat of industrial action by the unions?

READER RESPONSES

Erasmus Folly: "Yes, please do. Then proceed with BEC, Water & Sewerage and every other Bahamian company. The role of government is not to run businesses. We need a massive investment in education as well. Bahamians need to take responsibility for their own lives and their own futures. Stop looking to the 'nanny' state. Job creation is not a government task. Entrepreneurs create jobs, not government. Government jobs invite extinction, because the actual economic value of the government job gets lost in the po ...

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News Article
CHRISTIE HITS OUT AT 'BAD DEAL' IN SALE OF BTC

By PAUL G TURNQUEST

Tribune Staff Reporter

pturnquest@tribunemedia.net

FORMER Prime Minister Perry Christie attacked the government for what he termed was a "bad deal" in the sale of 51 per cent of the Bahamas Telecommunications Company (BTC) to Cable and Wireless yesterday.

Addressing listeners during a radio interview, Mr Christie said his party had left in place a sale of 49 per cent of BTC for $260 million before they were unceremoniously booted out of office in 2007.

Therefore, with the government on Wednesday evening announcing it had signed a memorandum of understanding for $210 million for the controlling shares of the telecommunications company with Cable and Wireless, ...

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News Article
Govt may offer public 9 of its BTC shares

Government may divest itself of 9 percent of its shares to the public, following the $210 million sale of the Bahamas Telecommunications Company (BTC)?to Cable and Wireless by the first quarter?of 2011.
That final sale price comes in around $50 million less than what was earlier discussed with former suitor Bluewater for the purchase of the nation's telecoms company. In the last year, analysts have predicted that a changing economic environment may lead to a lower sale price.
Around 9% of the government's remaining 49% shareholding in BTC may be sold to the public at any time following the sale of the 51% stake to Cable & Wireless, noted a statement sent to Guardian?Business late ye ...

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Movie
Underworld Awakening
  • Genre : Action, Fantasy, Horror
  • Rating : C - 18yrs and Older

When human forces discover the existence of the Vampire and Lycan clans, a war to eradicate both species commences. The vampire warrioress Selene leads the battle against humankind....


News Article
Unions dismiss PM's threat

The standoff between the Government of The Bahamas and unions opposing the sale of a majority share of the Bahamas Telecommunications Company (BTC) to a foreign firm continued yesterday with the union president who is leading the fight dismissing the prime minister’s recent warning to workers.
The leader of the Bahamas Communications and Public Officers Union (BCPOU) Bernard Evans said BTC workers already know that if the?deal with Cable and Wireless Communications (CWC) is sealed job cuts would occur within two years, so they have nothing to lose.
“Our workers have told us that they are not going to follow the government’s plan to sell to CWC.
They would rather follow ou ...

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News Article
PM on Grand Bahama

Prime Minister Hubert Ingraham addressed Free National Movement supporters on Grand Bahama during the weekend at a pre-Christmas breakfast. He used the opportunity to address a number of pressing national and Grand Bahama issues, including the pending sale of the Bahamas Telecommunications Company, the Ginn development project and Royal Oasis, CLICO, the Grand Bahama economy and its prospects, and the Grand Bahama Port Authority.
What follows is the full transcript of his remarks:
Grand Bahama FNMs
As you know, you are an important cog in the FNM's wheel and without you, we would not be where we are today. We are not unmindful of that reality; we know that to be fact. What you did for us in M ...

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News Article
Alfred Sears: BTC deal could trigger commission of inquiry

If the Bahamas Telecommunications Company (BTC) privatization deal goes through, it could lead to a commission of inquiry and possible criminal charges because of possible conflicts of interest regarding executives of the Utilities Regulation and Competition Authority (URCA), former Attorney General Alfred Sears warned in the House of Assembly yesterday.
URCA announced March 10 that it has approved the controversial deal for the sale of 51 percent of BTC?shares to Cable and Wireless Communications (CWC).
However Sears, who was speaking in the House of Assembly during debate on the bills and resolutions relating to BTC’s privatization, said there is a “real possibility” th ...

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Movie
Total Recall
  • Genre : Action, Adventure, Sci-Fi, Thriller
  • Rating : T - 15yrs and Older

A factory worker, Douglas Quaid, begins to suspect that he is a spy after visiting Rekall - a company that provides its clients with implanted fake memories of a life they would like to have led - goes wrong and he finds himself on the run....


News Article
Abaco Neem a growing success story

The Neem plant is not the only thing growing in Abaco, as a small business focused on organic farming has been turning the plant into profits, with an average 20 percent growth rate over the last five years, even through the recent economic downturn.
Abaco Neem Limited produces a range of products from the Neem plant, including product lines for body and beauty, alternative medicine, pets, and agricultural use. The company’s founder Nick Miaoulis started growing the plants in Abaco about 18 years ago, and the company’s products have been on the market for about 10 years.
“This tree is actually native to India,” Daphne De Gregory, sales and marketing manger and ...

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News Article
Bahamas Waste Ltd.'s net income plunges 53

A new business segment and increased fuel costs are behind a 53% plunge in net income year-on-year at Bahamas Waste Limited (BWL), according to the solid and medical waste collection and disposal company’s third quarter unaudited financial statements.
The company’s core revenue supported a cardboard recycling center it acquired this year, which did not break even during the nine-month period ending 30 September 2009, according to BWL Chief Financial Officer Desa Campbell.

She also said that the company’s fuel costs were up about 30 percent for the year, or around $100,000.
For the nine-month period ended 30 September 2010, sales and services were $5,708,783, down $66,73 ...

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News Article
BORCO sold for 1.36B

A $1.36 billion sale of the Bahamas Oil Refining Company (BORCO) oil storage terminal was announced yesterday — with U.S.-based Buckeye Partners to acquire an 80 percent interest in the Grand Bahama facility.
The agreement between First Reserve Corp. and the publicly traded Buckeye is expected to close in January 2011. First Reserve and Vopak, the world's largest tank terminal operator, acquired the Freeport, Grand Bahama oil storage terminal in 2008. The equity of the company was split 80:20 between affiliates of First Reserve Fund XI, L.P., a global private equity fund operated by First Reserve Corp., and Vopak at the time.
State Minister for Finance Zhivargo?Laing said the move shoul ...

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Movie
Arbitrage
  • Genre : Drama, Thriller
  • Rating :

A troubled hedge fund magnate desperate to complete the sale of his trading empire makes an error that forces him to turn to an unlikely person for help....


News Article
Money from BTC sale 'will go towards national debt'

THE Ingraham administration is "committed" to constructing a new public hospital for New Providence, but is compelled by the weak global economy to use the money from the sale of BTC to go towards paying off the national debt.

During the 2008/2009 budget debate, Prime Minister Ingraham had pledged that with the proceeds of BTC's privatisation, the government would build a new hospital.

But the $210 million Cable and Wireless is giving the government for its 51 per cent stake in BTC will now go toward paying down the rapidly escalating national debt.

However, Mr Ingraham said the government is committed to a new hospital in the Bahamas, and as soon as they are able to see "our wa ...

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