Second, the plan has one easy-to-identify saving in the form of lower fuel costs when more efficient Boeings arrive on improved sale-and-leaseback terms.
In 2001 and 2002 it sold 21 hotels for some £650m ($960m at the time) on sale-and-leaseback terms, and by now it wholly owns only 64 of the 403 hotels it operates.
From her comments about the need to restore British sovereignty and her refusal to negotiate anything close to what the Argentine junta might accept (leaseback, a fixed term before a handover, shared rule, a UN protectorate), we knew that war was coming.
Again, it's a leaseback arrangement, but after the nine-year initial term there is the option to continue to rent out or take up full-time residence.
"The board have publicly stated that they have no plans to use these assets for any other security, or a sale and leaseback, and so there is no impediment to them agreeing to the terms of release.
In theory sale and leaseback owners will also be affected by any tax hikes but the long-term nature of this type of investment means, as French CGT liability still reduces over time, sales and leaseback investors are unlikely to feel any pain.
It seeks a 10-year leaseback.
The leaseback continues to enjoy the support of the governor.
As with Arizona's leaseback, the California auction has become a political football.
Some investors in French property buy into sale and leaseback schemes.
The bill's title, "State property: Orange County Fair: inventory; leases; sale and leaseback" gave little hint of its import.
