Tommy Turnquest says He Does Not Consider Hubert Ingraham to be a Threat to His Leadership of the Free National Movement (FNM)

Turnquest: Ingraham No Threat

By Candia Dames

candiadames@hotmail.com

Nassau, The Bahamas

10/05/2004

Free National Movement Leader Tommy Turnquest said on the Love 97 Radio Programme 'Jones and Company' Sunday that former Prime Minister Hubert Ingraham is no threat to him.

While addressing a group of administrative professions in Freeport, Grand Bahama last month, Mr. Ingraham referred to his departure from frontline politics as a "hiatus" and said it could stay that way as long as those who are now in office advance The Bahamas and its people.

Mr. Turnquest said, "I did not consider it to be a threat against me.  I do not consider Mr. Ingraham to be a threat to my leadership.  Mr. Ingraham is a former leader, a former prime minister.  He remains a sitting MP as an FNM MP in our parliament.

"He is very supportive of me and my leadership and I don't in the slightest way feel threatened by him or by his remarks.  He said that people said when I was prime minister that I talked too much and I didn't listen enough.  Now they're saying I'm not saying enough, perhaps I'll get it right one day."

Mr. Turnquest said a lot of people try to pit him against Mr. Ingraham, but he said, "I'm not going there".

"I'm comfortable with my leadership, I'm comfortable with his position," he added.  "There are persons in the FNM who have tried to get Mr. Ingraham to come back.  I believe that those persons are not prepared to work as hard as we have to work in order for us to gain the government.

"They see Mr. Ingraham as a person who did it before and feel that if he came back we would just automatically win.  Well, that's not going to happen.

When asked by the show's host, Wendall Jones, whether Mr. Ingraham was a cloud over his leadership, Mr. Turnquest said, "Mr. Ingraham is a very dominating personality in terms of Bahamian politics.  Lots of persons either love him or hate him, but Mr. Ingraham in my view, and I believe in the view of the majority of FNM's, will not become leader of the FNM again."

Mr. Jones then asked, "Wouldn't it be better for you as leader of the FNM for him to retire from frontline politics and give you advice rather than being, as some people say, meddlesome?"

Mr. Turnquest responded, "I don't consider Mr. Ingraham meddlesome in my leadership.  Some people believe that Mr. Ingraham is going to come back or wants to come back as leader of the FNM and prime minister of The Bahamas.  I do not share that view.  I believe that Mr. Ingraham has a passion for the political scene in The Bahamas.  He's in the parliament.

"Mr. Ingraham didn't want to run in the last election in North Abaco, but he ran and won his seat and thankfully so...I'm not sure that we can win a bye election in North Abaco at this time and until I'm sure about that, I don't see any reason to ask Mr. Ingraham to step down."

He added, "Mr. Ingraham serves a very useful purpose for me being in the House of Assembly and the House of Assembly is where the action is.  I do not have a seat in the House of Assembly."

Mr. Jones then asked, "Aren't you upstaged by his presence?"

"I don't feel upstaged," Mr. Turnquest responded.  "I am comfortable as the leader of the FNM."

When asked whether Mr. Ingraham was more responsible that any other politician in the FNM for the defeat of the party in the last general elections, the FNM leader said Mr. Ingraham has to accept a degree of responsibility for the FNM defeat.

But he said, "I believe that the blame game as to who is responsible for us losing is not important in terms of us moving forward.

"I have now done an analysis in terms of the reasons as to why we have lost.  I use that analysis now as the basis of my strategy of us winning the next election and so I don't intend to make or let the FNM make the same mistakes we made in the election campaign of 2002...in fact, I intend to have learnt sufficiently from those mistakes and from any successes we may have had in order for the FNM to be successful in the next general elections."

He then reiterated that he does not feel undermined by Mr. Ingraham.

Prime Minister Perry Christie, who was a guest on the same show a week earlier, was also asked to respond to comments made by Mr. Ingraham in Grand Bahama.

He said, "One of the interesting and intriguing questions for The Bahamas will be whether Hubert Ingraham and a Perry Christie representing both sides of the political spectrum will square up against each other and quite frankly to the real politician in both of us, it is more than intriguing.

"It's one of those things that you have become very curious over.  I don't know though whether that is something that is real for Mr. Ingraham.  He indicated to the country that he wanted to do two terms.  He had two terms.  He's in retirement now and it takes a major set of facts to converge for him, I think, to make a decision to move forward.  But that's neither here nor there, that's an FNM problem."

The prime minister then added, "I quite frankly do not believe and I cannot anticipate from my point of view that the FNM will beat my party in the next election even though we're two and a half years away at least from a general election.

"My job is to ensure that my party complies with its programme that it presented to the Bahamian people and remain relevant to the Bahamian people and I have to be satisfied that if we do those things that we would win, no matter who is the leader of the other side." 

The National Insurance Fund in The Bahamas Faces Depletion by The Year 2025 unless Serious Reforms are Instituted

The Social Security Reform Commission wants A Portion of The National Insurance Fund to be Invested Outside of The Bahamas - to Give it a Chance to Diversify Its Portfolio and Help It To Grow

NIB Losses Worsen

By Candia Dames

candiadames@hotmail.com

Nassau, The Bahamas

04/10/2004

Return on National Insurance Fund investments continued to decline last year, a clear sign that the country’s social security scheme is in urgent need of reform, according to Chairman of the Social Security Reform Commission Alfred Stewart.

Mr. Stewart, who was a guest on the radio Love 97 programme, “Jones and Company” Sunday, said at the end of 2003, the rate of return to the Fund was just under six percent.

When the 7th Actuarial Review of the National Insurance Board was completed at the end of 2001, the rate of return stood at 6.25 percent.

The Review, which was made public last year, created widespread concerns about the future of the Fund and prompted the government to establish the Reform Commission to chart the way ahead for NIB.

The returns to the National Insurance Fund peaked around 1984 when the Fund was earning close to 10 percent per annum, said Mr. Stewart, who added that since that time, there has been a decline in the level of the returns to the Fund.

He said this is a clear sign that the social security programme is earning less and less money every year.

“The need to make changes to the Fund to increase contributions and so forth could significantly be impacted depending on the level of investment returns,” he said.  “In other words, the higher the investment returns, the less you need to increase rates or increase the contribution ceiling and the like.”

With the National Insurance Fund facing depletion by the year 2025 unless serious reforms are instituted, the commission wants a portion of the Fund to be invested outside The Bahamas.

Mr. Stewart said this would give the Fund a chance to diversify its portfolio and help it grow.

“In addition, what we’re recommending is a proper investments policy and proper investment guidelines so that all investments of the Fund, whether local or international, are done within the context of the approved investment policy of the Board,” Mr. Stewart said.

He added, “In The Bahamas, $1.4 billion available for investments is a very large sum of money.  The local capital market in The Bahamas is only just beginning to develop and it is difficult to lay off $1.4 billion in The Bahamas in sufficient investment instruments to give the National Insurance Fund the kind of asset allocation that it ought to have and also the diversification that it ought to have.”

The government appointed the commission after the Actuarial Review warned that depletion was imminent without reform.

Changing demographics and other factors are being blamed for this possibility.

It is a problem that is not unique to The Bahamas, with developed countries like the United States facing the same dilemma with their social security schemes.

The challenge for administrators of these type funds is keeping them afloat, as aging populations would mean more recipients and fewer contributors.

“When the National Insurance scheme was initially established given the characteristics of the demographics of The Bahamas and the expected mortality, the design at that time was adequate and could meet the needs for the indefinite future,” Mr. Stewart pointed out.

He added, “However, [like in many places around the world] people are living much longer than was initially anticipated, so what’s been happening is the number of persons in retirement compared to the number of contributors in the scheme has been increasing rapidly.”

In addition to falling birth rates and increasing life expectancy among the elderly, the Actuarial Review also pointed to a contribution rate that is below the average cost of benefits as a key factor that would contribute to the death of the Fund.

According to the review, on December 31, 2001, NIB benefits reserves stood at $1.1 billion.  Mr. Stewart revealed while on the show that those reserves now stand at $1.4 billion.

He pointed to problems faced in investing the Fund, saying that some changes need to be made.

Keith Major, who chairs the commission’s public relations subcommittee, said the commission recommends that up to 40 percent of the Fund be invested abroad.

The Actuarial Review pointed to the challenges associated with investments, saying that the size of the National Insurance Fund relative to the Bahamian economy, and the restriction on investing overseas, often makes it difficult to find suitable investments.

As a result, almost one-third of the portfolio is now held in short-term bank deposits, investments not consistent with the long-term nature of NIB’s liabilities, the Review said.

“With reserves projected to nearly double in the next 15 years, new investment avenues and a revised approach to investing NIB funds will be required,” it also said.

Mr. Major on Sunday reminded that, “Funds like these are affected 20, 30 years down the road by decisions you make now.”

He said there are five contributors now for every person who is receiving retirement money from the Fund.

“A few years down the road there is going to be two or one and a half,” he said. “A lot of us are going to be receiving.  So the Fund will go up and it will come down suddenly if we don’t make these changes.”

The Review said that reserves are expected to begin decreasing in 2019, when total expenditure will exceed total income for the first time.

The Actuary has recommended that the insurable wage ceiling be reviewed and changes should occur annually and reflect the increases in either official wage or price indexes, as are commonplace in social security schemes in developed countries.

Sidney Stubbs, Embattled Holy Cross MP - Bankruptcy Trial Adjourned

Sidney Stubbs was forced to go back to the Supreme Court after the Court of Appeal rejected his appeal in July on the grounds that it had no jurisdiction to hear his bankruptcy appeal

PLP Member of Parliament - Sidney Stubbs’ Bankruptcy Matter Adjourned Again

 

 

By Candia Dames

Nassau, The Bahamas

September 22, 2004

 

 

  

Supreme Court Judge Jeannie Thompson on Wednesday adjourned the Sidney Stubbs bankruptcy matter to November 9, after the Holy Cross MP’s attorneys indicated that they had aborted the line of argument originally planned.

The amendment to their summons resulted in the judge putting off the matter once again.

Mr. Stubbs was forced to go back to the Supreme Court after the Court of Appeal rejected his appeal in July on the grounds that it had no jurisdiction to hear the appeal.

Attorney Wayne Munroe, who represents Mr. Stubbs’ creditor, Gina Gonzalez, explained that the matter of whether the Supreme Court has jurisdiction to hear the case still has to be clarified.

Members of Mr. Stubbs’ legal team had originally given notice that they intended to argue for the reversal of the bankruptcy order under Section 18 of the Bankruptcy Act, which outlines the circumstances under which a reversal of a bankruptcy order may be made.

But on Tuesday, they changed the summons, giving notice that they intend to argue that the court has an inherent jurisdiction to hear the case.  They plan to assert essentially that there is no Act or rule under which this jurisdiction is specified.

As mentioned, because of the change, the parties have been given more time to prepare their arguments.

Mr. Stubbs has actually hired new attorneys, led by Thomas Evans.  The MP still has as part of his legal team - his parliamentary colleague, attorney Keod Smith, but Charles Mackay is no longer representing him.

Mr. Munroe had indicated during a recent appearance before Justice Thompson that an issue had arisen over whether Mr. Smith, who is also the MP for Mount Moriah, is in contempt of court for comments he made to the press in relation to this matter.

But that issue reportedly did not come up when the parties met in chambers Wednesday.

After coming out of the court, Mr. Smith told reporters, “The issue of jurisdiction will be discussed.  It will be argued before the judge on the 9^th and at that point, the judge will determine whether in fact she has jurisdiction to hear an application from Mr. Stubbs who was adjudicated a bankrupt.”

Mr. Stubbs’ attorneys assert that he can under law bring the case back to court.  But Mr. Munroe argues that only the Registrar of the Supreme Court, who has been appointed trustee in bankruptcy, can move the court to reverse the decision against Mr. Stubbs.

As already reported by the Journal, Mr. Stubbs’ legal woes began on November 28, 1996 when a Supreme Court action was filed requiring him to pay a $55,000 debt with interest to Ms. Gonzalez.

As Mr. Stubbs was preparing to head back to court, notice was being given in the House of Assembly Wednesday that the government intends to bring a resolution seeking to extend the time for him to clear up the bankruptcy matter.

But FNM officials have indicated that they would stage a demonstration in front of the House of Assembly against such a plan.

They pointed out that the Constitution only provides an extension if an MP has avenues for an appeal.  They claim Mr. Stubbs has none.

One PLP official told the Bahama Journal that Mr. Stubbs also plans to appeal before the Privy Council if he is unsuccessful in local courts.

At stake is his seat in the House of Assembly.  He has been absent from the House for the past six months, after Justice Thompson declared him a bankrupt on March 30.

Another six-month extension from the House of Assembly, as is being pushed by the government, could mean his seat on the backbench could be vacant for up to a year.

Dr. Rodney Smith Controversy at The College of The Bahamas - COB

The controversy surrounding the new College of The Bahamas president, Dr. Rodney Smith was sparked by the Action Group of the Free National Movement - FNM

College Of The Bahamas Controversy Creates Setbacks

 

 

By Candia Dames

Nassau, The Bahamas

30/08/2004

 

 

 

 

The controversy surrounding the new College of The Bahamas president that was sparked by the Action Group of the Free National Movement is already having a negative impact on some of the institution’s plans, COB Council Chairman Franklyn Wilson admitted Sunday.

Mr. Wilson appeared as a guest on the radio Love 97 programme “Jones and Company”, where he took the opportunity to defend Dr. Rodney Smith and detail some of the plans for the college moving forward.

The Council Chairman also appealed to Bahamians not to politicize the College of The Bahamas.  That appeal was triggered by statements from the FNM group, which Mr. Wilson labeled “despicable.”

In its most recent statement on the matter, the Action Group called for the resignation of Dr. Smith.

The pressure group questioned Mr. Wilson as to the reason why Dr. Rodney Smith reportedly changed his to name to Dr. David Smith when he sought employment in Freeport.

He, Chairman of the Council of the College of Bahamas Mr. Franklyn Wilson- needs to state unequivocally who is taking over the college: Is it Dr. Rodney, once employed by the Ministry of Education, or is it Dr. David Smith, who was "briefly" employed by Sunland Lutheran School, Freeport,” the statement read.

It continued, “It is the view of the Action Group that the issue of values involving Dr. Smith speaks to the future of the College of The Bahamas, and ought to have been given the highest priority among policymakers.”

But Mr. Wilson said it is “very, very tragic” that the FNM has seen fit to make such accusations.

“The College of The Bahamas is too important to our national development to complicate it in this way,” he said.  “I make that appeal for good reason.

“Before this controversy arose, I had been in personal contact with certain Bahamians who one, happened to be wealthy and two, happened to be known supporters of the opposition party.  They had seen the same résumé that you saw…and they were ecstatic.  Based on that, I had received certain assurances as to certain financial support for the institution.

“After this controversy arose, they came back to me and said ‘Mr. Wilson let us hold off for the time being.’  So this action has had that type of adverse consequence.  It’s not every day that someone who has served as president of a reputable college in America leaves that environment to go back to their home country (a developing country) to lead that country’s primary tertiary institution.”

Mr. Wilson also said the controversy is risking the possibility of COB getting invaluable exposure through newspapers and magazines that write specifically about tertiary level institutions.

“We feel very fortunate to have Dr. Smith,” he said.  “The council engaged in a wide ranging review…we did so with remarkable transparency and aggressiveness.”

The show’s host, Wendall Jones, asked whether officials had found anything questionable in Dr. Smith’s records with the Ministry of Education given that the Action Group made the charges it made.

“I’m sure you must have had an opportunity to find out from the Ministry of Education what that possibly is,” Mr. Jones said.

Mr. Wilson responded, “The Minister has said that there is nothing in the Ministry of Education files that cause him to have second thoughts about having ratified and approved the appointment of the Council.

“The only thing in the Ministry of Education files that create any controversy in this context has absolutely nothing to do with what was implied by the Action Group.

Mr. Jones also asked about a case involving Ramapo College in New Jersey that named Dr. Smith as a defendant.

“The fact of the matter is if one wants to sue the Government of The Bahamas you don’t prepare any writ saying you’re suing the Government of The Bahamas, you sue the Attorney General, “ Mr. Wilson pointed out.  “Dr. Rodney Smith was named in this action because someone was suing Ramapo College and the particular case involved a matter that was before the college, before his presidency.”

Mr. Wilson also revealed that Minister of Education Alfred Sears asked the Council to make certain inquiries after he was informed by former Prime Minister Hubert Ingraham that certain concerns were being raised about Dr. Smith’s history.

“He thought he would bring this to the attention of the Minister and encourage the Minister to ask the Council to investigate this line of inquiry,” he said.  “Now, why do I disclose this at this time?  I disclose it because it shows…what is the right way to act on certain matters.  I salute Mr. Ingraham for the way he dealt with that.”

Responding to Mr. Jones’ comments that COB’s Council provided a very lucrative package for the new president in attracting him to the institution, Mr. Wilson said Dr. Smith took a salary cut in accepting the top position at COB.

He also pointed to the importance of the residence that has been secured for the president.

“I know no credible world class university that does not provide a residence for its president,” Mr. Wilson said.  “It’s like having a governor general with no state house.”

Asked whether COB can afford the Eastern Road residence it is renting from BISX Chairman Ian Fair, as well as the rest of the package Dr. Smith is receiving, Mr. Wilson said,  “We cannot afford to do otherwise, it is too important.  The College of The Bahamas must be at the centre of the whole development of this country moving forward.

“We have to be about building a whole country, about inspiring a whole people.  That requires leadership.  That requires the College of The Bahamas doing it right, so we can not afford not to do it the right way.”

Mohammed Harajchi Attorney Intends to Set The Record Straight and Prove The Bahamas Deputy Prime Minister, Cynthia Pratt Wrong

Harajchi Associates To Slam DPM

By Candia Dames

candiadames@hotmail.com

Nassau, The Bahamas

24/08/2004

Deputy Prime Minister Cynthia Pratt today faces an onslaught from the Mohammed Harajchi camp, as the controversy involving donations made to the Progressive Liberal Party’s 2002 election campaign by the Iranian businessman continues.

Derek Ryan, Mr. Harajchi’s attorney, has called a press conference for today to specifically address the response made by the deputy prime minister to Mr. Harajchi’s claims that he gave her money to put burglar bars on her constituency office windows.

Minister Pratt has come out strongly, denying the accusations, accusing Mr. Harajchi of telling an untruth.

She has admitted that he made contributions to some of her constituents, but said Mr. Harajchi never made any contributions to her constituency office or any personal contributions to her.

But Mr. Ryan has said he intends to set the record straight in this regard and prove Minister Pratt wrong.

The deputy prime minister has also gone on record saying that she would support any effort to revoke the permanent residency of Mr. Harajchi and she has said she hopes this would be something the government will address.

“Anytime you are going to get to the place where you’re going to go out there and try to discredit the government of the day, you don’t deserve to have permanent residence,” she told the Journal last week. 

During a press conference nearly two weeks ago, Mr. Harajchi attacked members of the Cabinet of Prime Minister Perry Christie, pointing specifically to alleged donations to the deputy prime minister.

He also said that Minister of Works and Utilities Bradley Roberts asked a personal favour from him, a claim Minister Roberts has also vehemently blasted.

The latest move planned by associates of Mr. Harajchi has many people wondering when the saga is going to end.

Prime Minister Perry Christie, who returns to the capital today after a state visit to China, is sure to face questions on the growing controversy.

Before leaving, he responded to Mr. Harajchi’s claims and defended the integrity of members of his Cabinet.

“I have complete confidence in the integrity of all my ministers,” Mr. Christie said in his statement.  “I am satisfied that no minister of my Government has sought or received any illegal or improper financial assistance from Mr. Harajchi either before or after the 2002 General Election.” 

Chinese Factory in The Bahamas?

Chinese Manufacturing Company Commits to Building a Factory in The Bahamas

Chinese To Build Factory in The Bahamas

By Candia Dames

candiadames@hotmail.com

Nassau, The Bahamas

20/08/2004

The Chinese manufacturing company, Jndeli, has committed to building a factory in The Bahamas, Minister of Financial Services and Investments Allyson Maynard Gibson revealed Thursday.

Jndeli, which manufactures luxurious Swarovski silver and crystal products already sold in The Bahamas, intends to create jobs for a significant number of Bahamians, according to the Minister, who spoke to the Journal from Shanghai.

She said the economic benefits to be derived will be tremendous.

“If we just think about the almost five million tourists we are going to have this year, if each of them spends just $20 or more, that’s $100 million more pumped into our economy,” she said.

“So imagine that impact on the economy, in terms of jobs.  Obviously setting up a factory is going to mean jobs.”

Government officials expect that the presence of Jndeli in The Bahamas will fuel widespread entrepreneurship as well.

“You’re talking about serious, serious entrepreneurship,” Minister Gibson said.

She added, “When you’re talking about souvenir production, you’re not just talking about persons creating and copyrighting their products, buy you’re talking also about people having to work to assemble them, making them.”

Prime Minister Perry Christie, who is on a state visit to China, has long talked about the need for there to be stronger linkages between tourism and manufacturing.  Mr. Christie has said that it cannot be acceptable for most of the dollars earned on tourism to leave the country to pay for imports.

It’s precisely the reason why government officials in China are elated that they have been able to lock down such deals like the one with Jndeli.

Minister Gibson termed it an “incredible success.”

 

Company officials, who have visited The Bahamas in the past, are expected to return in October to locate a site for their factory.  There has been no indication of which island they are likely to target, the Minister said.

She said the Chinese have also committed to sending master carvers to The Bahamas to pass on their technical know-how and have also agreed to send persons to The Bahamas to help train Bahamians in packaging fruit, vegetables and seafood.

“So we are moving toward the goals that the prime minister has set for us which is to enhance our souvenir industry, to tap into the significant tourism market that we already have and also in finding ways to do what Jamaica does and that is to maintain as much of the dollar as possible and re-invest it into our economy,” Minister Gibson said.

“This souvenir thing is very exciting,” she pointed out, adding that executives of Jndeli are all set to go.  “We’re looking at really unleashing the creativity of our souvenir producers.”

Chinese Investments in The Bahamas

Optimism About Chinese Investments in The Bahamas and Their Significant Impact on Jobs For Bahamians

Chinese Investments Pour In to The Bahamas

By Candia Dames

candiadames@hotmail.com

19/08/2004

Bahamians will feel the benefits of Prime Minister Perry Christie’s visit to The People’s Republic of China for decades to come, according to Minister of Financial Services and Investments Allyson Maynard Gibson.

Minister Gibson also told the Bahama Journal Tuesday night that Chinese President Hu Jintao has accepted an invitation from Prime Minister Christie to make a state visit to The Bahamas, although she did not indicate when.

She said the benefits that will result from Mr. Christie’s visit to China will extend well beyond the $30 million stadium Chinese officials have committed to funding in The Bahamas.

Minister Gibson added that the COSCO Shipping Company, which intends to be the largest shipping company in the world by 2010, has recently registered three of its ships under the Bahamian flag.

The company’s president has also proposed the expansion of the dry dock ship repair facility in Freeport, which would enable that operation to accommodate the largest cruise ships in the world, the Minister reported.

This would create a significant number of jobs for Bahamians, she said.

“We have every confidence that with Hutchison Whampoa, COSCO and CITIC in The Bahamas, more Chinese companies and investments will follow because of the confidence indicated by those companies in the government and people of the Bahamas,” Minister Gibson said.

The Bahamas is also expected to benefit in the area of tourism from stronger relations with the Chinese government.

Both the president and premier have committed to encouraging more Chinese companies to invest in The Bahamas and establish joint ventures with Bahamians, according to Minister Gibson.

She also said that the Chinese premier intends to designate The Bahamas a preferred travel destination for Chinese people.

As a result, Prime Minister Perry Christie is reportedly encouraging direct flights between China and The Bahamas.

Efforts are also being made to form a partnership with the Chinese so that more souvenirs can be produced in The Bahamas, said Minister Gibson, who added that the intention is to ensure that at least 50 cents of each dollar earned from tourism remains in the country.

“We already have four million visitors from the United States and Europe to support a significant souvenir and handicraft industry originated by Bahamians,” she pointed out.

“But now add to that the potential growth in the tourism sector from the Chinese market which we know will be coming on stream.  Imagine what that would mean, not only in jobs, directly in the tourism industry, but also growth in entrepreneurship and jobs created from that as well.”

She said a Chinese firm, known as NUTEC, is also working with the government to provide equipment that would be used in the scanning of containers.  Minister Gibson said this equipment would improve revenue collection.

She added that it would also help in the fight against illegal drugs and weapons as well as other banned goods.

In addition, Minister Gibson reported that government officials are in discussion with the Chinese to form partnerships between them and the College of The Bahamas in the areas of math, science and technology.