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Steve. Recently I met a retired ex M&B managed division guy who told me one of his closest colleagues and friends who worked as BDM in the M&B tenanted division absolutely hated his job because he was continuously signing up new lessees to tied leases which he knew would bankrupt them. When they were going through their documentation for assignment or new lease he was already thinking about how to market the pubs when they went down the pan. To put this into timeline context: The guy I met left the pub industry seven years ago. All the pubco's work along the same lines, I've been deeply involved through the Fair Pint Campaign at all levels of this industry and I am constantly amazed to find that there is no bottom to the pit of pubco poo. These business hooligans have nothing but disdain for lessees and simply believe that a tenant's soul, life, material goods and savings belong to the pubco from the moment they are stupid enough to sign a tied lease.