The Canadian multinational taking control of Kerzner International (Bahamas) is moving to reassure Bahamians that it is "committed to stay the course", Guardian Business can reveal, insisting that it has "no plans to sell it in the forseeable future". Andrew Willis, senior vice president of Communications and Media at Brookfield Asset Management, said the company has a long-term interest in The Bahamas.

"We are committed to staying the course," he told Guardian Business from Toronto.

"We are committed to the long-term value of Atlantis and the Ocean Club, and operationally nothing will change.  Kerzner will continue to be the operator.  We are very keen real estate investors with a long-term outlook."

In a deal that shook The Bahamas yesterday, Kerzner international will sign over its Bahamian and Mexican assets to Brookfield in a debt-for-equity deal.  Indeed, the fate of Atlantis, the largest private company and employer in The Bahamas, directly or indirectly touches nearly every industry in the country.

In a speech to Parliament yesterday, Hubert Ingraham, the prime minister, said "some 15 percent of all jobs in our economy are related directly to Kerzner International in The Bahamas".

Brookfield agreed to exchange approximately $175 million of debt for the holdings, which include Atlantis Resort, The One & Only Ocean Club and the One & Only Palmilla in Mexico.

The deal ends more than a year of speculation and negotiation concerning the restructuring of $2.6 billion in mortgage debt.

"Nobody could foresee what happened in the last quarter of 2008," Sir Sol Kerzner told the press conference yesterday.

"The world darkened.  Unfortunately, I don't think the world has fully recovered.  I think in those circumstances, the debt issue had to be resolved.  We have worked for the past year or even longer to get to a point where we would not be burdened by the debt and continue doing what we do best, which is managing and operating hotels."

According to senior officials at Kerzner International,  the management contract with Brookfield is "up to four years, and renegotiable thereafter" for the Atlantis property, and 15 years for the Ocean Club.

Brookfield, a multinational with a global portfolio of assets valued at around $160 billion, will subsequently acquire its first full ownership of a resort property, according to Willis.

He told Guardian Business that the company has a long tradition of investing in hotels, however.  "Our main expertise is financing," he said.

"Hotels where we have financing in placeright now would include the Mandarin Oriental in Manhattan, the Hard Rock in Vegas and three other collections of hotels where we have been active."

He added that Brookfield is "comfortable" owning a quality asset such as Atlantis.

In fact, Willis explained that the acquisition - with its 4,000 hotel rooms, water park, nightclubs and the Caribbean's largest casino - fits with the firm's overall corporate strategy.

"We are active lenders, and we like lending against irreplaceable, high quality assets.  We continue to make these kinds of loans."

Brookfield is "comfortable" with Kerzner International in place as manager and operator, he said, and any upgrades or major changes to the resort will rest in their hands.

George Markantonis, the president and managing director of Kerzner International (Bahamas), said the contract has put in place specifics on maintaining present employment levels, capital expenditures for improvements at the resort, and a budget for major additions or new attractions.

"For us, this is very exciting it has finally come to an end," he said.

"As part of Brookfield, with strong support from the government, we're delighted to say it has assurances with our owners."

The sale is conditional based on government approvals and consents, which are expected to be achieved by the end of the year.

Learning to make wiser decisions when it comes to sex is what Anatol Rodgers twelfth grade student, Dorral Pratt hoped his peers took away from a World AIDS Day School assembly, held at the school's gymnasium on Tuesday.

The 17-year-old says he is well aware of the dangers of having unprotected sex, and urges his peers to practice abstinence or learn how to correctly use protection, so they will not add to the increasing 12,000-plus diagnosed HIV and AIDS cases in The Bahamas.

Zero new Human Immunodeficiency Virus (HIV) infections, zero discrimination, zero Acquired Immune Deficiency Syndrome (AIDS) deaths and accomplishing all of this by 2015, was the message that Pratt and students from a number of schools around New Providence received in preparation for World AIDS Day on Thursday, December 1.

"Getting to Zero" is the United Nations AIDS Division's (UNAIDS) theme for this year's celebration, and Ministry of Education and Ministry of Health officials said it was important to put that message to the student population if the theme is to truly be realized.

Jade Thurston, a fellow 17-year-old twelfth grader at Anatol Rodgers, said she hopes many young people her age left the assembly understanding why AIDS and HIV are so deadly.

"We always hear about young people being infected with AIDS and I realize that there are things we can do, and I think this assembly was a good way to let the whole student population and other schools know how serious this thing is," said Thurston.  "Unsafe sex, which I know is the main cause of AIDS, is not the only worry we should be having.  We have babies being born, and it's worse if they have AIDS too.  I think it is important to really get to the young people so they know what can happen and they take it seriously."

Getting to zero is more than just about getting the country and the world to a point where there are no more new AIDS infections, according to Ross Smith, superintendant for high school curriculum.  He said it is also about being able to provide persons with AIDS and HIV all the medication they need to eliminate AIDS-related deaths.

"It is about being able to get the level of awareness about AIDS to a point where people can understand it isn't a plague, and just like society is accepting of things like heart disease, diabetes and cancer, so should AIDS also be seen.  Since AIDS is no longer a death sentence with what is happening today... the stigma associated with the illness needs to be eliminated.  This is why it is important for awareness to start with the younger generation, so their thinking can be altered and they can be the real movers in this," said Smith.

Globally, it is estimated that 33.3 million people have HIV, and that more than 25 million people between 1981 and 2007 have died from the virus.

Smith told the students that all nations should now be working together at this pivotal moment in history, as the number of people being infected with the disease outpace the number of persons starting treatment.  According to statistics only one-third of the people living with HIV to date have the lifelong treatment they need to live.  It is with this reality that UNAIDS urges nations to take a stand and make the elimination of this epidemic a global priority.  It is hoped that every nation aims to promote one or more of the "Getting to Zero" goals per year until 2015 when it is anticipated that AIDS will finally be globally managed.

If students can be aware, protect themselves and be supportive of their brothers, Smith said the country would make strides in controlling and eventually eliminating AIDS in The Bahamas.  The biggest challenge he sees is that people are not supportive and willing to view AIDS as just another illness that can be managed.  But he said more young people needed to play their part and protect themselves.

HIV/AIDS Centre Acting Manager, Marva Jervis, says controlling AIDS is entirely possible, but young people need to be aware of what is happening in the country and worldwide with the disease.  The hardest hit group, she says, has been people between the age of 15 and 44.  She says school assemblies where students are spoken to are perfect, because they force young people to be aware of what is happening.

"They are bombarded with so much sexuality in the media.  Whether it's to sell a car or perfume, the underlying message is usually sex.  We need to arm the young people so they can appropriately deal with all the things they are bombarded with.  They need to know, be open-minded, and prevent themselves from acquiring the disease, and be supportive of those who do have it."
 
10-point United Nations AIDS Division's (UNAIDS) goals to accomplish by 2015
o Sexual transmission of HIV reduced by half, including among young people, men who have sex with men and transmission in the context of sex work.
o Vertical transmission of HIV eliminated and AIDS-related maternal deaths reduced by half.
o All new HIV infections prevented among people who use drugs.
o Universal access to antiretroviral therapy for people living with HIV who are eligible for treatment;
o Tuberculosis (TB) deaths among people living with HIV reduced by half.
o All people living with HIV and households affected by HIV are addressed in all national, social protection strategies and have access to essential care and support.
o Countries with punitive laws and practices around HIV transmission, sex work, drug use or homosexuality that block effective responses reduced by half.
o HIV-related restrictions on entry, stay and residence eliminated in half of the countries that have such restrictions.
o HIV-specific needs of women and girls are addressed in at least half of all national HIV responses.
o Zero tolerance for gender-based violence.

The Rev. Norris Bain, or 'Coach', as he is more often called, does not brag.  He states facts and for the most part, lets his leadership speak.  Being the catalyst for the success of one of the most dominating high school basketball teams in Bahamian history is certainly notable.

However, being able to network with associates in the United States to bring to Grand Bahama talented teams for the annual Tabernacle High Thanksgiving Tournament is equally laudable.  It is indeed praiseworthy that Bain, with his many contacts, can get teams such as Columbia High out of Decatur, Georgia to come in for the tournament.  Columbia is the 12th ranked boys high school team in the United States. The team, led by Coach Phil McCrary, who is in the 500-win circle, has won state titles and is definitely high class.

The tournament that concluded at the Jack Hayward High School Gymnasium over the weekend is a prime example of Grand Bahama's high-level role in helping to craft the sports power image of The Commonwealth of The Bahamas.

Forming the other half of the dynamic sports extravaganza, the Tabernacle Thanksgiving Classic goes on at the same time as the Junkanoo Jam Tournament that attracts top National Collegiate Athletic Association (NCAA) female teams.  Just as the Junkanoo Jam should be marketed better, so should the Tabernacle Tournament.

Coach Bain and his assistants have been working hard with the tournament.  Competitively, the 13th version was a big success, with the best from Grand Bahama, and a New Providence squad matched up against the teams from the U.S.  Columbia was easily the class of the field and played true to form along the way to the title.

The tournament has the potential to be much bigger, including more American and Bahamian teams.  For squads like C.I. Gibson out of New Providence, and St. George's, Sunland, Eight Mile Rock and Tabernacle out of Grand Bahama, the opportunity to go up against the Americans is valuable for sure.

What was noteworthy as well was the orderly manner in which the event was coordinated and how the young players conducted themselves. The young Bahamian boys were at their best behavior. It was good to see young Bahamian boys functioning at such a high level of competition and maturity devoid of the negative attitudes that plague our society today.

It was a wholesome environment, young Bahamian boys engaging in hard play with pride and courage, but being young gentlemen nevertheless.  It was most refreshing!
Coach Bain, Coach Kevin Johnson and their local peers are to be congratulated.  They are certainly doing their part to mold leaders of the future in this country.  Indeed, they fit in quite nicely with the Tabernacle Thanksgiving Tournament, a class event.

To respond to this column, kindly contact Fred Sturrup at fredericksturrup@gmail.com

The Canadian multinational taking control of Kerzner International (Bahamas) is moving to reassure Bahamians that it is "committed to stay the course", Guardian Business can reveal, insisting that it has "no plans to sell it in the foreseeable future".

Andrew Willis, senior vice president of Communications and Media at Brookfield Asset Management, said the company has a long-term interest in The Bahamas.

"We are committed to staying the course," he told Guardian Business from Toronto.

"We are committed to the long-term value of Atlantis and the Ocean Club, and operationally nothing will change.  Kerzner will continue to be the operator.  We are very keen real estate investors with a long-term outlook."

In a deal that shook The Bahamas yesterday, Kerzner international will sign over its Bahamian and Mexican assets to Brookfield in a debt-for-equity deal.  Indeed, the fate of Atlantis, the largest private company and employer in The Bahamas, directly or indirectly touches nearly every industry in the country.

In a speech to Parliament yesterday, Hubert Ingraham, the prime minister, said "some 15 percent of all jobs in our economy are related directly to Kerzner International in The Bahamas".

Brookfield agreed to exchange approximately $175 million of debt for the holdings, which include Atlantis Resort, The One & Only Ocean Club and the One & Only Palmilla in Mexico.

The deal ends more than a year of speculation and negotiation concerning the restructuring of $2.6 billion in mortgage debt.

"Nobody could foresee what happened in the last quarter of 2008," Sir Sol Kerzner told the press conference yesterday.

"The world darkened.  Unfortunately, I don't think the world has fully recovered.  I think in those circumstances, the debt issue had to be resolved.  We have worked for the past year or even longer to get to a point where we would not be burdened by the debt and continue doing what we do best, which is managing and operating hotels."

According to senior officials at Kerzner International,  the management contract with Brookfield is "up to four years, and renegotiable thereafter" for the Atlantis property, and 15 years for the Ocean Club.

Brookfield, a multinational with a global portfolio of assets valued at around $160 billion, will subsequently acquire its first full ownership of a resort property, according to Willis.

He told Guardian Business that the company has a long tradition of investing in hotels, however.  "Our main expertise is financing," he said.

"Hotels where we have financing in place right now would include the Mandarin Oriental in Manhattan, the Hard Rock in Vegas and three other collections of hotels where we have been active."

He added that Brookfield is "comfortable" owning a quality asset such as Atlantis.

In fact, Willis explained that the acquisition - with its 4,000 hotel rooms, water park, nightclubs and the Caribbean's largest casino - fits with the firm's overall corporate strategy.

"We are active lenders, and we like lending against irreplaceable, high quality assets.  We continue to make these kinds of loans."

Brookfield is "comfortable" with Kerzner International in place as manager and operator, he said, and any upgrades or major changes to the resort will rest in their hands.

George Markantonis, the president and managing director of Kerzner International (Bahamas), said the contract has put in place specifics on maintaining present employment levels, capital expenditures for improvements at the resort, and a budget for major additions or new attractions.

"For us, this is very exciting it has finally come to an end," he said.

"As part of Brookfield, with strong support from the government, we're delighted to say it has assurances with our owners."

The sale is conditional based on government approvals and consents, which are expected to be achieved by the end of the year.