Bermuda commerce.

And he is confident that faced with increasing competition and increasing challenges, that Bermudians will work together and maintain the amazing success the Island has achieved.

And that will be true, he said, whether or not the electorate votes a new government into office at the impending election.

He is optimistic about tourism, telling The Royal Gazette : "The things that are being done with Minister (David) Dodwell and the others involved, and the new focus on tourism are good things.

"And I'm somewhat optimistic about the election coming up. If the PLP should win, I don't think they are going to screw up the economy. That's not to say they will win, but who knows? "There will be some changes for the Island, one way or the other, and we will see them through, just as we have survived world wars and the ups and downs of the North American economy.

"But I've always been an optimist. I feel very good about Bermuda and very good about Bermudians. We've got some problems, but we'll get through it all.

"With education and a lot of the things that are being done in the community, people are realising more and more that it is one for all and all for one.

"We all have to help each other and make sure the Island is successful.

Bermuda is a great place. I've travelled a lot and it is hard to beat Bermuda.'' Mr. Vallis is co-chairman of importers Butterfield & Vallis, president and chief operating officer of Vallis & Hayward, a commercial real estate holding company which owns three city buildings on Bermudiana Road (The International Centre, The Hayward Building and the Vallis Building) and rents space to firms involved in international business.

He is also president and majority shareholder in Bermuda Wholesalers Ltd., a firm involved in tourist products (shirts and tourist souvenir items).

On the verge of his 69th birthday on June 25, Mr. Vallis was last night honoured at the Royal Hamilton Amateur Dinghy Club for 50 years with the Vallis Group of Companies (J.S. Vallis & Co. Ltd., Vallis & Hayward Ltd. and Bermuda Wholesalers Ltd.).

J.S. Vallis merged with Butterfield & Co. in 1993, to become Butterfield & Vallis.

The celebration dinner featured a speech by Mr. Vallis in which he reminisced about the early days of the firm.

He has served on several government boards, the Bermuda Olympic Association, the Bermuda Chamber of Commerce, the Bermuda Employers' Council, the Royal Masonic Lodge and Rotary International.

When not preoccupied with work, he can be found on the golf course at Mid Ocean Club or Riddell's Bay, or helicopter snow-skiing in Western Canada and sometimes horseback riding. Swimming and water polo were his sports in younger years. He keeps fit with an exercise regimen using a home gym.

Family, friends and colleagues celebrated with Francis Joseph Vallis last night, as he recalled one of his first jobs with the family firm as a school boy, working the entire summer for 15 shillings.

Even though he is being credited with 50 years work at the firm, he was involved ten years earlier with the business his uncle, Joe Vallis, started in 1910. His father, Boyd Vallis, joined his uncle Joe in the firm in 1919, just after the Second World War. A cousin, Chummy Hayward, joined up nine years later at the start of the Great Depression in 1928, the year before Francis Vallis was born.

Mr. Vallis recalled, "I joined J.S. Vallis & Co., Ltd. on June 1, 1948. We've come a long way since then: J.S. Vallis incorporating in 1947, Vallis & Hayward in 1964 and Bermuda Wholesalers in 1973.'' Later he noted: "To give you an idea of how things were done in those days -- you kept your mouth shut and did as you were told. There was little opportunity for self expression.''