Hon MICHAEL WOODHOUSE: Not in this case—not in the case of the minority interests not only of institutional investors but of mum and dad investors, of ACC, of KiwiSaver funds. Yes, there are overseas investors, and I can tell the House that when the mixed-ownership model was being followed and Air New Zealand was looking for purchasers of the proportion of the company that went from—what was that, Mr O'Connor? Is there a problem with your nose? That looked like a very interesting action, and it's a pity we can't put it on the Hansard. That went down from 75 percent to 51 percent, and the effort that needed to go in to get institutional investors over the fact that the company would still be majority-owned was a considerable mountain to climb. They were nervous. They were nervous because of the very kind of intervention that is articulated in this so-called thought piece. 