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Avitor
10th Mar 2008, 12:07
http://news.bbc.co.uk/1/hi/business/7287156.stm

Ian Brooks
10th Mar 2008, 12:12
Just read this on BBC, is there anything left in Britain that is British owned or built, I think I`m going to sell my house to a Mongolian Bank and lease back
as we can`t even afford to own our own houses nowadays


Ian

mustpost
10th Mar 2008, 12:15
Ah that'll be a Sharia mortgage then? Watch this Budget space...:)

Ian Brooks
10th Mar 2008, 12:18
Yeah guess your right on that but the payment are 6 sheep a month
and you can buy them from a farmer for peanuts ( now that is another story )

Ian

WHBM
10th Mar 2008, 12:26
Just to clarify here, what BAA is selling is the "World Duty Free" brand shop selling typically the drink, tobacco, perfume, etc. These shops were owned and operated directly by BAA. They are just a small fraction of the overall retail floorspace in the terminal.

So they will just be an outsde brand the same as the WH Smith, Boots, Costa Coffee, et al which operate in the terminal. No reduction of floorspace, just moving to 100% of the retail brands being owned by outside companies.

Retailers actually get to operate in the terminal entirely at the invitation of BAA, who control what percentage of the take (typically large) they will have for themselves. This step just puts all shops on the same basis rather than BAA opeating one of them directly.

Stephen Nelson, BAA Chief Exec until his departure was anounced last week, is from a retail background (ex-director of Sainsburys) and thus a shop man at heart. presumably he was against this which is why he has gone. However Ferrovial need the money to reduce their debts. Travellers will not notice anything apart from some rebranding.