Nottingham has agonised for years about whether or not it was right for the city to put public money into a posh yacht at a property conference in a millionaires' paradise.
It can probably lay that ghost to rest on two counts. As we report today in Business Post, the city can and should be making headlines at MIPIM, the international property exhibition in Cannes.
And the signs are that it probably doesn't need a yacht to do that.
The £80,000-a-week yacht was previously hired as a meeting area at a notoriously expensive event where space is always at a premium.
But it was never comfortable to see that expenditure in the city council's accounts, even though the council was making a valid attempt to attract inward investment on an international stage.
Nottingham's presence at MIPIM has now moved on. It is financed entirely by a group of businesses which club together to form what is known as Team Nottingham. This feels more appropriate.
However it is interesting that the council is still there - paid for by the private sector. The presence of the heads of planning, inward investment and regeneration is felt to add authority to what the private sector is trying to offer.
The signs are that Nottingham had a successful week at this year's MIPIM, its businesses winning new contracts and the city receiving both awards and praise.
So the model of a private-sector led presence which is supported by the public appears to work well and sustainably.
The truth is that even by the standards of an international event like MIPIM, our city genuinely has a lot to offer, with a scale of investment which it seems other locations have plans for but have yet to sign off.
On that basis, we hope that Nottingham's presence at this exhibition can grow sensibly. Without a yacht, it may even be plain sailing.
Source:www.thisisnottingham.co.uk