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Bahama Islands News, Articles and Information
At The Half: Miss Wilda Does Independence
The actual Independence holiday is just a few days away and Miss Wilda has already gotten into the spirit of the season. She's a sentimental Bahamian when it comes to Independence you see, and so she embraces any and almost all of the observations put on for the occasion. .Police Beat
Police Beat items are compiled from reports of Marion area law enforcement agencies. In police, sheriff and highway patrol news, names and addresses appear as they do in the police department and sheriff's office reports. These are arrest reports only. The city or county prosecutor later will decide whether to file formal charges.City Police
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Nicor Reaches Tentative Agreement with Enforcement Staff of United ...
NAPERVILLE, Ill.--(BUSINESS WIRE)--July 7, 2006--Nicor Inc. (NYSE:GAS) today announced that it has reached a tentative agreement with the Staff of the Enforcement Division (the "Staff") of the United States Securities and Exchange Commission (the "SEC") in settlement of an anticipated civil action to which the company and the SEC will be parties. As previously disclosed, the SEC, in 2002, issued a formal order of investigation related to the company's actions in connection with the accounting for natural gas costs pursuant to the Performance-Based Rate plan of Nicor Gas Company, the company's gas distribution subsidiary, which was in effect from 2000 through 2002. Under the terms of the tentative settlement, the company will be subject to disgorgement of one dollar, a monetary fine of $10 million and an injunction.New vision for GBPA
Grand Bahama Port Authority (GBPA) executives met with lawyers, accountants and bankers yesterday to discuss the company's new vision for Freeport.The GBPA hosted the licensees to a luncheon at the Westin Grand Bahama Island at Our Lucaya Beach and Golf Resort.
Chairman Hannes Babak, at a subsequent meeting, briefed the media on the purpose of the talks, revealing that it was to discuss how the Port Authority can improve and become more transparent.
Babak said determining how the GBPA the licensing authority of Freeport can react quicker to requests for licences was also up for discussion.
The move comes weeks after much criticism on the sluggish state of the economy of Grand Bahama.
"Part of the community that was here today represents all the clients, all investors who are investing already in Grand Bahama, in Freeport, but especially all (of the new) investors," said Babak.
Chinese delegation makes historic visit
An influential group of visitors made history recently as the first Chinese tourist group welcomed to The Bahamas since The Bahamas received the strictly regulated Approved Destination Status from the Chinese Government in February, 2005.The group of 10 included three of China's top tour operators and writers for some of the highest-circulated publications, including Golf Magazine and Cosmopolitan (China) Magazine. As guests of the Bahamas Ministry of Tourism, the Chinese delegation travelled to three major islands to become familiar with the country's tourism product.
Vernice Walkine, director general of Tourism, welcomed the group on their June 2 11 visit, encouraging them to share their Bahamas experiences with their readers and clients.
"The Bahamas has much to offer, and we will fit in as many of those offerings as possible during your stay," Ms.
Pinnacle ups the ante on St. Louis casino
ST. LOUIS (AP) -- Casino operator Pinnacle Entertainment Inc. said Monday it raised the budget for its casino resort development in St. Louis to $430 million from $350 million due to higher construction material costs and additions to the project.The new Pinnacle casino, which is expected to open next year, will feature 200 hotel rooms and cover 18 acres in the Laclede's Landing area north of the Gateway Arch. The casino is slated to have 2,000 slot machines, while the complex will have 12,000 feet of meeting and convention space.
The increased budget will be used in part for the addition of a nightclub, parking and site improvements, retail stores and other program adjustments.
The Las Vegas-based company wrapped up terms for many of the project's bids and expects to complete other bid packages and enter a final deal with its general contractor in the next 30 to 60 days.
The Free Market Isn't So Free
Phillip Morris begs for FDA regulation, Boeing and Wal-Mart drink mightily at the trough of government largesse and farm subsidies for agribusiness still aren't dead.In his new book The Big Ripoff -- out today from Wiley -- Timothy P. Carney explores in a meticulous-yet-highly-readable fashion how the collusion of big business and big government depletes the savings accounts of average Americans, fills the coffers of regulation-adoring politicians and damages the cause of free-market capitalism in the United States. Carney kindly took time to answer a few queries below:
Despite the unambiguous evidence you've collected in your book, the idea that "pro-business" is synonymous with "pro-market" is fairly pervasive in the collective American consciousness. You call it a myth.