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News Article
Sun Oil Shell Remains Committed To Saxon Superstars

Nassau, Bahamas - Continuing its relationship with the Saxon Superstars, Sun Oil Bahamas, a Shell
Licensee, recently presented the group with a cheque to defray the costs of
material for the upcoming Junkanoo parades. Dexter Adderley, Sales and
Marketing Manager for Sun Oil Ltd and FOCOL (Shell Licensee) was on hand to
present the cheque to Saxons' leader, Percy "Vola" Francis...

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News Article
BTC sale passed in the House of Assembly

11am - Bamboo Town MP Branville McCartney has resigned from the FNM.

THE controversial sale of BTC to Cable and Wireless Communications (CWC) has been passed in the House of Assembly.
All but one of the Members of Parliament for the FNM voted in favour of the Bll, and all but three PLP members voted against it.
FNM MP for Bamboo Town Branville McCartney was absent from the vote.
PLP members for MICAL, Alfred Gray, Fox Hill, Fred Mitchell and Exuma, Anthony Moss, were absent from the vote.
Parliamentarians are now debating a resolution on the bill.

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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
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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News Article
Broadband benefits

The deputy chairman of a high tech start-up in The Bahamas weighed in on the planned sale of a 51 percent stake in the Bahamas Telecommunications Company (BTC) to Cable and 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 full potential.
Brian Quinn, the deputy chairman of IP Solutions International (IPSI) and the former CEO of what is now Reuters TV, said the Bahamian government had "few options open to it" when it selected CWC because of the "small size of the market, limited growth potential, and BTC's intermediate technology and current reliance on its ...

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News Article
BTC monopoly was maintained to 'maximise jobs' in public sector

By NOELLE NICOLLS

Tribune Staff Reporter

nnicolls@tribunemedia.net

THE monopoly held by the Bahamas Telecommunications Company was maintained for so many years to "maximise jobs" in the public sector and to protect the government's investment, Prime Minister Hubert Ingraham said.

The old BTC would not survive in the "aggressive marketing environment" of a liberalised market, because it does not have the necessary strengths in "mobile service," said Mr Ingraham as he tabled documents related to the sale of BTC to Cable and Wireless Communications (CWC).

He said concerns about BTC's ability to compete fueled the government's decision in the past to maint ...

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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
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
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
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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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
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
BTC bills passed in House

Four members of parliament were absent yesterday when a vote on three bills connected to the controversial sale of the Bahamas Telecommunications Company (BTC) was taken.
Fox Hill MP Fred Mitchell, who was very vocal about his opposition to the privatization deal, came into the lower chamber of Parliament minutes after the vote concluded which ended with 22 MPs voting yes and 14 voting no.
Also absent were MICAL?MP V. Alfred Gray, Exuma MP Anthony Moss and Bamboo Town MP Branville McCartney, who over the past several weeks said he was undecided on the issue.
As expected all the FNM?MPs who were present voted for the sale and all PLP?MPs who were present voted against the sale.
When asked about t ...

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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
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
Car seat sales increase in GB

Freeport, Grand Bahama - One week after the enforcement of the seat belt law, local sales of child protection devices outfitted for cars have increased, a true sign that persons are adhering to the law.
Representatives from the two main distributors of car and booster seats – Kelly’s True Value and Park-N-Shop – say that sales have been going well.
Lynne Fraino, human resources and marketing manager of Kelly’s told The Freeport News yesterday that since last week they have sold at least 25 car seats.
“The sales of the child car seats have gone up within the last week or so. I have personally seen persons walking out of the store with them and we have s ...

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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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