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Bahama Islands News, Articles and Information
Darden Shares Up on 4Q Results
NEW YORK (AP) - Darden Restaurants Inc., operator of Red Lobster, Olive Garden and other restaurant chains, saw shares jump on Wednesday, a day after posting strong fiscal fourth quarter results which prompted two positive notes from analysts.The Orlando, Fla.-based company said quarterly profit rose 10 percent, while same-store sales, or sales in stores open at least one year, a widely used industry gauge of performance, increased 9.4 percent at Red Lobster, 2.5 percent at Olive Garden, and 3.6 percent at Bahama Breeze.
.Bay Street plans may fail
A multi-million development plan for downtown Nassau is in danger of being delayed by people who are "too cautious," according to Prime Minister, Perry Christie.While giving the keynote address at the launching of the Redevelopment of Bay Street and The Nassau Harbour, Mr Christie said that the time has now come for Bahamians to take a vested interest in considering how to make Nassau one of the most charming destinations in the world.
"We will not allow this to be held up any longer by people who are too cautious, because our future depends on it.
"We are now compelled to look at New Providence and must desire to have it look charming," he said. Mr Christie did not identify who he was referring to, however.
He said that the Marina Village at Atlantis and the Shopping Village at Bahamar should not take the place of Nassau in its native appeal to tourists.
$8m for new airport tower
Plans for the installation of a new control tower at The Grand Bahama International Airport are eportedly proceeding as scheduled. SolaCom Technologies, a Canadian-based company, te-amed up with an American engineering contractor to build the tower as well as a state-of-the-art communication system at an estimated cost of $8 million.SolaCom is the second Can-adian company this year, ent-ering into an agreement to upgrade airports in The Bahamas. A representative from the company told The Guardian that an announcement was made at the US Contract Tower Association meeting in Washington, DC on Monday, that plans for the tower installation were on schedule.
The Florida-based AJT and Associates, would be replacing the Control Tower cab (which houses the air traffic controllers) with a new one, and will also replace the Liberty-STAR Voice Commun-ication System (VCS) with a new one from SolaCom.