AND HERE, taken from the 2001 Euro Disney annual report, is the sort of thing our negotiators should have included in the deal we signed with Disney. 'TWDC [The Walt Disney Corporation] has also undertaken, if it licenses another theme park using the TWDC name or other TWDC intellectual or industrial property rights (except for subsequent phases of Disneyland Paris) within 800km of Disneyland Paris in the five-year period following April 12, 1997, to offer or cause to be offered to the company the option to acquire up to a 49 per cent equity interest in that park at a price equal to the pro rata share of the fair market value of such a park or at the offering price of the shares of the company owning such a park in the case of a public offering. 'In addition, and pursuant to a separate letter to the creditors under one of the company's principal debt agreements, TWDC has agreed that if it opens such a themed park within a 2,500km radius of Disneyland Paris prior to January 1, 2004, and before the company meets certain financial conditions, TWDC will guarantee repayment of the amounts outstanding under such debt agreements until January 1, 2004, or such time as the financial conditions have been met.' So what did we negotiate from Disney along these lines for that Disney park now going up on Lantau Island? Well, the simple answer is that we do not know for sure as our government has not seen fit to publish the full terms of the contract. All we do know is that sometime last year Mickey Eisner Mouse told Mickey Mike Rowse or Donald Duck-the-issue Tsang that Disney would not think about building another park anywhere nearby until the Hong Kong park was 'mature and up and running', whatever that means. You will note that they were not told this at the time they signed with Disney, but only when the first reports came out that Disney was also building a park in Shanghai and that they did not get this pledge on a piece of paper with date and signature. It was one of those nudge and a wink promises and Disney is now coy about having made it at all. We got took. That is the long and short of it. We agreed to sink HK$22 billion (and count on it that the real bill will be much larger) into an amusement park aimed at drawing visitors from China only to find before we even reclaimed the land that the rat pack with which we signed the deal had undermined it by setting up a park at home for those visitors. Fill in the blanks. It is a ****-up. What makes it worse is that we could have known exactly what to demand as a starting point for an anti-competition clause in our deal. Disney could hardly refuse us what it had already agreed to in Paris and if I could find those Euro Disney contract terms with a little pecking through the Internet between two cups of coffee, what was Mickey Mike Rowse doing with a support staff to call on and months to negotiate the deal? It was all there in black and white - pick your radius and no Disney anything within it unless we get half of it and we also get a Disney guarantee of the Hong Kong park's debts. What did our man think negotiation was? Did he spend his time arguing the colour of Donald Duck's bow tie so that it did not clash with our own Donald's when two sets of clowns got on stage to announce the deal? It is no wonder that legislators are now getting upset and they certainly have the right of it this time. Here we have an unparalleled howler, the first real trial of whether this administration will truly sack officials for getting things grossly wrong. Come on, Mr Tung. Take some responsibility this time.