A transcription error meant that in the report of a speech by Peter Hansen, principal of PC Hansen & Co, at the Pub Strategy Conference 2001 in London on page 12 of the latest issue of M&C Report we had Mr Hansen speak of Taipan Taverns, "a massive, very good company which runs almost entirely on leases".

This should, of course, have read: Taipan Taverns, "and Massive, a very good company which runs almost entirely on leases". Our apologies to Mr Hansen, to Massive, and also to Taipan, which we are sure will indeed be massive one day.