club med bahamas
Bahama Islands News, Articles and Information
Red Lobster Parent Piles On Profit
ORLANDO - Restaurant-chain operator Darden Restaurants Inc. said Tuesday that its fiscal fourth-quarter profit grew 10 percent, fueled by stronger sales at its Red Lobster and Olive Garden restaurants.Quarterly profit rose to $92.3 million, or 60 cents a share, from $84 million, or 52 cents a share, in last year's fourth quarter. Sales grew to $1.51 billion from $1.39 billion.
President and Chief Operating Officer Drew Madsen said Darden was able to drive higher sales despite tough economic conditions. He said the company is pleased with results of most of its brands but acknowledges it needs to work on its Smokey Bones barbecue brand.
Smokey Bones' same-store sales - an important industry gauge of restaurants open more than a year - fell 7.7 percent in the quarter.
GBPC's pledge to customers
With temperatures soaring high three weeks into the hurricane season, the Grand Bahama Power Company (GBPC) wishes to assure its customers that they are very committed and fully prepared for the summer peak and hurricane season.In a press conference held yesterday at the Peel Street Plant, Director of Generation Joseph Gaskins stated that over the last year, GBPC has improved in areas such as safety, reliability, environmental impact to the community and efficiency.
Adding that GBPC has an excellent record that is renowned in the industry, Gaskins told The Freeport News that the company has one of the best safety records within its fleet.
"From a reliability stand- point, we have been very committed," Gaskins said. "We have went ahead and looked at many issues that have caused concerns last year."
Explaining that a number of procedures took place this year that resulted in numerous improvements and repairs on boilers ( steam generators), Gaskins revealed that boiler number 13 in particular, underwent major improvements.
Teekay creates master limited partnership
NASSAU, Bahamas, June 12 (UPI) -- Teekay Shipping Corp, based in the Bahamas, will create a master limited partnership for marine tanker and offshore storage assets.To be called Teekay Offshore Partners LP, the new entity is expected to participate in Teekay's investments in the floating production storage and offloading business, the company said Monday.
Teekay expects to file with the U.S. Securities and Exchange Commission a registration statement for the initial public offering of the common units of the master limited partnership in the second half of this year.
A master limited partnership seeks to combine the tax benefits of a limited partnership with the liquidity of publicly traded securities.
Teekay Shipping, which owns 140 tankers, transports more than 10 percent of the world's seaborne oil.