for the general strike at the beginning of July. While the tourists sheltered from the incessant rain, forces were conspiring to make their visit even more of a living hell.

Local hoteliers said many people had decided to cut short their holiday and either fly home or go somewhere more harmonious, preferably with a bit of sun thrown in. But they weren't allowed to go quietly.

Many were dropped off hundreds of yards from the air terminal as some taxi drivers refused to cross picket lines at the airport. The sight of the elderly struggling with their luggage against a backdrop of unrest left a bitter taste in the mouth. Fifteen pickets were arrested for obstruction.

By the last day of the month, the Bermuda Industrial Union had called out bus drivers, ferry workers, taxi drivers, garbage collectors, garage workers, truckers, dockers and airport staff. The next day they called out everyone.

Freelance photographer Bob Gamel, an American, was another one of Bermuda's unsatisfied customers, thanks to the over zealous nature of Ross Perot's minders. They allegedly smashed Gamel's expensive camera equipment and roughed him up as he attempted to shoot photographs of Perot's home while the billionaire still had intentions of becoming the next US president.

BERMUDA MAKES INTERNATIONAL NEWS Too much more unrest, and Bermuda might not continue to enjoy such a high reputation abroad for being a stable place to do business. But for the moment, the Island's precious image overseas remains intact.

Bermuda was given a boost when it was chosen to be the new corporate home of the Bacardi group of companies, the world's biggest rum producer. Nearly 100 shareholders of Bacardi's four companies met in Bermuda to ratify a major reorganisation plan.

It will lead to the setting up in Bermuda of a holding company, Bacardi, to manage the group's $3 billion of assets. The holding company will wholly own Bacardi and Company, of the Bahamas; Bacardi International, of Bermuda; Bacardi Corporation, of Puerto Rico; and Bacardi Imports, of Miami. The group's Mexican distillery, Bacardi y Compania, is to be brought in later in the year.

One of the main reasons for the changes was money. The move is expected to save $15 million in administrative costs.

Bermuda-based oil magnate John Deuss has been doing an enormous amount recently to increase the Island's standing as a player on the world scene.

Only a month after helping to secure the world's largest ever oil deal, between Chevron and the former Soviet republic of Kazakhstan, the publicity-shy Dutchman helped set up a pipeline company to export the region's huge oil reserves.

The Caspian Pipeline Consortium will be based in Bermuda, from where Mr. Deuss runs the Oman Oil Company for the Omani Government, as well as his other business, Transworld Oil. The consortium is made up of Kazakhstan, Azerbaijan, Oman and Russia.

The pipeline project is expected to cost between $700 million and $1.6 billion to construct. About $230 billion of oil revenue is expected to be generated over next 40 years from Kazakhstan.

PROFITS AND LOSSES Bermuda-based Corporate Officers and Directors Assurance company reported an unaudited profit of $16.3 million for the first half of 1992, down 1.7 percent on the same period last year. CODA's premiums of $17 million during the six months to April 30, 1992, were down five percent. The company made a net underwriting profit of $237,000, up 7.7 percent.

Insurance firm EXEL reported second quarter profits of $60.6 million, a drop of $1 million for the same period in 1991.

Locally, Bermuda Telephone Company reported a profit of $9.37 million for fiscal 1992 -- an increase of 8.1 percent on the year before.

Revenues from overseas phone calls came to $20.5 million, just under half the company's total operating revenue of $46.5 million. One of the biggest growth rates was in the area of cellular telephones, which more business people on the Island are starting to use.

"The demand for cellular radio service has again been outstanding,'' said Telco's president Colin Young. As a result, Telco said it was upgrading its equipment to cope with demand.

Bermuda Fire and Marine Insurance reported a one-off profit of $27.8 million in its first annual report since selling its domestic operation to BF&M last July.

The profit was entirely due to the $32.1 million the company received from the sale. Without this revenue, the firm would have made a loss of $4.27 million.

Bermuda Fire and Marine now handles international run-off business and, in future, is not expected to make a profit, although that could happen if reserves end up being more than claims.

MISCELLANEOUS NEWS Real estate firm L.P. Gutteridge played down the importance of losing two of its management contracts, for the Mizzentop apartments, in Warwick, and the Emporium Building, on Front Street. Reports circulated that there had been complaints about the standard of service being provided by the firm.

LPG president Mr. J. J. (Jack) Outerbridge blamed much of the problem on a former British employee who had since returned home. "Everything's fine now and we have a first class staff,'' he said.

Former Pompano Beach Club manager David Southwell was ordered by Supreme Court to pay $1.8 million to the Bank of Bermuda over a US property deal that went wrong.

Bermuda Hotel Association president David Dodwell was also named as a defendant, as were little-known Lee Koehler, and a company called Malvern Properties. Mr. Dodwell refused to comment on the action against him, which is still pending.

Royal Caribbean Cruise Line sacked troubled businessman Llewellyn Peniston as its local agent, giving the contract for its Nordic Prince cruise ship back to John S. Darrell.

It was indeed an ironic twist since Mr. Peniston had left Darrell's in 1986 to set up on his own, taking with him all of the firm's cruise ship business. Not long after, Darrell's almost went bust under a mountain of difficulties but eventually managed to ride the storm.

After years of trying, Bee Line Transport was finally given a licence by the Public Services Vehicles Licensing Board to start operating an airport limousine service.

Last November, the firm could only watch aghast as rival company Bermuda Hosts was given a licence. Bee Line then objected because Board chairman Ed Bailey was a partner in a law firm whose general manager Wayne Furbert was a Bermuda Hosts shareholder. Bee Line indicated that it might take legal action against Bermuda Hosts for allegedly unfairly being given a licence. Bermuda Hosts denies any wrongdoing.

Bee Line, which operates sightseeing and charter taxi services, has bought a fleet of 11 buses for an estimated $450,000 from Bermuda Aviation Services, whose own limousine service was wound up due to heavy losses.

DeFontes Broadcasting was hit by the closure on June 28 of the Boston-based Christian Science Monitor Channel on VSB's Channel 11. The network was owned by the Christian Science Church, which has been hit by scandal and enormous debts. The channel was estimated to have cost the church about $327 million since 1984.