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Ultra-conservatives taking away Texas jobs


September 28, 2015

The campaign by ultra-conservatives to shut down the U.S. Export-Import Bank has started taking a toll on Texas' businesses.

My colleague Sarah Scully reports that traffic at the Houston Ship Channel is slipping, and therefore


manufacturers are laying off workers, after ultra-conservatives in Congress, led by Texas Sen. Ted Cruz, blocked renewal of the Ex-Im Bank. The 81-year-old government institution supplies loan guarantees and other financial services to exporters of capital goods that can't find those financial products in the private sector. That's why every major exporting nation has an ex-im bank...


The average business person, though, doesn't realize the toll that shutting down the bank is having since he or she don't build airliners, gas turbines or drilling rigs, the kinds of products that need the Ex-Im bank's help. But business people need to pay attention, because opposition to the bank is proof that the tea party wing of the Republican party no longer cares about business interests and is ready to put ideology ahead of common sense.


Texas business leaders need to rally, and true conservatives need to step up, to prevent ideologues from doing real damage to the U.S. economy. That means financing pro-business candidates who are not afraid to say no the ideologues. If they don't, the business community shouldn't be surprised when the next ultraconservative policy position puts their business at risk.




Read the full article here










Tyler Schroeder, Financial Analyst, Air Tractor Inc.

  • Schroeder: Air Tractor Could Lose Up To 25 Percent Of Sales Without Ex-Im credit Insurance. "Similarly, Schroeder’s Texas crop-dusting manufacturer could lose up to one-fourth of its sales after losing the bank’s credit insurance, he said Wednesday. ‘We’re scrambling now, trying to find a way to facilitate our sales throughout the rest of this year,’ he said…Schroeder added: ‘We can only do this for so long…When it comes to next year’s export season, we don’t know. We don’t have an answer for how we’re going to fill the gap that’s been left by Congress’ blatant disrespect for business, in my opinion.'" (Victoria Guida, "Businesses Fume As Congress Lets Export-Import Bank Stay Dead,"
  • POLITICO, 7/30/15)

      Cindy Lewis, President And CEO, AirBorn Inc.

      • Mid-Size Company CEO Says Businesses Like Hers Cannot Weather Ex-Im Shutdown. "Every time Boeing exports a 747, for example, that plane includes electronics made by my company, AirBorn Inc., which is headquartered in Georgetown, Texas, along with other parts and components made on a vast, nationwide supply chain made up of 15,000 small and mid-sized firms. Maybe Boeing can weather a shutdown of the Export-Import Bank, but the small businesses that make up nearly 90 percent of its transactions cannot… AirBorn is a mid-sized employee owned company. Shutting down the Ex-Im Bank greatly limits our ability to continue our growth and job creation." (Cindy Lewis, "COMMENTARY: US Businesses Need Export-Import Bank,"
    • The Monitor, 9/8/15)

        Rami Touma, President, CECA Supply & Services

        • Oil Equipment Exporter Says That Without Ex-Im, It Will Lose 30-40 Percent Of Sales "Right Off The Bat." "But Rami Touma, president of Houston-based oil equipment exporter CECA Supply & Services, said Ex-Im’s services are critical to his business’s ability to sell products to Algeria, its major source of income…’We do not have the ability to just not have $6 million accessible to us,’ Touma said. ‘So Ex-Im, they put the money in for us, and we pay a fee’…For smaller companies, ‘in any given year, our projects in North Africa represent 30 to 50 percent of their yearly sales,’ he said. His policy with Ex-Im is locked in for roughly the next year, but if the agency stays dead, CECA would lose 30 to 40 percent of its sales ‘right off the bat.'" (Victoria Guida, "Businesses Fume As Congress Lets Export-Import Bank Stay Dead,"
      • POLITICO, 7/30/15)

          David Ickert, Chief Financial Officer, Air Tractor

          • Chief Financial Officer Says Air Tractor Does "Not Have The Ability" To Export Without The Ex-Im Bank. "Now those export sales, worth 25% of their business, are at risk. ‘We do not have the ability right now to access the Export-Import Bank to facilitate our export sales.'" (Jack Carney, "Tough Landing,"
        • Newschannel6, 8/1/15)
            • Air Tractor Executive: Losing Ex-Im Means Losing Jobs. "In summary, it’s nearly like the House [of Representatives] wants to export jobs now and not export American products, because that’s exactly the impact that will be felt." (Jack Carney, "Tough Landing,"
          • Newschannel6, 8/1/15)

              Jaime Martinez, Senior Project Manager, International Trade Center

              • New Small Business Loan Program Aimed To Grow Export Capabilities Halted After Ex-Im Bank Lapse. "A new small business loan program that was ready to roll out at the University of Texas at San Antonio’s International Trade Center has been put on hold as Congress squabbles over reauthorization of the Export-Import Bank…The program would allow the center to make loans for under $500,000 to businesses looking to export products to other countries. "Unfortunately, right when we were approved the Ex-Im Bank was not reauthorized," Martinez said…Martinez said the U.S. Small Business Administration has a similar loan program called Export Express that is still available to small business owners. But they will not be able to get the Export Credit Insurance to protect them against various types of loss." (Mike W. Thomas, " Ex-Im Bank Fight In Congress Puts Dampers On Local Loan Program,"

            Congress’ Ex-Im Mistake, in One Chart

            In some cases, there's good reason to stand alone, to stray from the crowd, to zig when the rest of the world is zagging. In some instances, it could be considered courageous, even brilliant. In other cases, it's downright foolish.




            Read the whole article 

            It’s About to Get Real: How Closing Ex-Im Endangers American Jobs



            The fight over the future of the U.S. Export-Import Bank (Ex-Im) is about to get real. Ex-Im's charter will expire on Tuesday, after which it will no longer be able to provide loans or guarantees to U.S. exporters. Meanwhile, American jobs hang in the balance.

            Just ask Jim Hirsch, president and CEO of Air Tractor, a 265-employee-owned manufacturer of agricultural and forestry fire-fighting airplanes based in Olney, Texas.

            Last year Hirsch testified before Congress on Ex-Im's importance. Today, just days before the bank's charter expires, he says, "Without Ex-Im, 65 jobs at Air Tractor would be at risk immediately."

            Read the whole article here




             Why Are Lawmakers Turning Their Backs On Texas Job Creators?

            Everything is bigger in Texas. That goes for exports as well.

            In 2013, Texas exported more goods than any other state--$280 billion, according to the United States Trade Representative. That's up 71 percent from 2009.

            Read this great list articles here

            GE chief: Demise of Ex-Im bank would mean ’economic catastrophe’

            Genearal Electric CEO, Jeff Immelt said if Ex-Im is not renewed, GE will continue to be able to export, but many small and midsize businesses will not. And he rejected the argument made by many conservatives that the Ex-Im Bank — which will expire June 30 without new legislation — is not necessary and will be replaced by private-sector lending.

            Read more: http://www.politico.com/story/2015/06/jeff-immelt-general-electric-export-import-bank-119110.html#ixzz3dM7DYX2d

            Read more: http://www.politico.com/story/2015/06/jeff-immelt-general-electric-export-import-bank-119110.html#ixzz3dM3uJ2PY


            Trade pact will help Toyota create Texas jobs


            When the first

            Toyota Tundra rolled of the assembly line in San Antonio in 2006, we knew it was by far the single largest opportunity for Toyota’s growth plans in the U.S. Nearly 10 years and 1.3 million trucks later, that is still the case.


            Today you’ll find more than 6,000 team members and suppliers building some of the toughest trucks on the road. That doesn’t count the roughly 15,000 spinoff jobs that support our assembly plant operations.





            Read the full story here:

            In Ex-Im Bank fight, Texas has most to lose, and fiercest bank opponents



            In a fight in the U.S. Congress over the future of the Export-Import Bank, no state looms larger than Texas, on both sides.

            The state has the most companies backed by the government's export credit agency, and - paradoxically - is home to the bank's fiercest congressional critics who want to let the institution die when its charter expires at the end of June.




            Read full story here

            James Brooks, Bernie Bernard, guest columnists: Export-Import Bank helps get financing to small business in Texas and beyond

            Last year Texas led the nation in exports, sending $289 billion in goods across the globe. But those exports — and the jobs they support — could soon take a huge hit. The Export-Import Bank, an independent government agency that we and many other Texas companies depend on, is set to close at the end of June.

             Read the full story here:



            Ex-Im critical to Polyguard

            At Polyguard, we manufacture coatings used to stop corrosion on oil and gas pipelines, as well as waterproofing and vapor barrier products. Since 1953, we have been an industry leader creating high performance coatings that keep pipelines working longer.

            Starting in 2005, Polyguard began selling products outside of the United States and Canada. In that time, Polyguard has expanded sales to over 30 countries…. Thankfully, there is the Export-Import Bank which serves as the official export credit agency of the United States…. But now, in this era of Washington gridlock, Ex-Im is at risk.


             read the full story here:

            Opinion: Don’t outsource American jobs; keep Ex-Im open 

            By Mike Rollins


            When a wide range of political leaders agree on something, you can bet it’s got broad support. And that’s certainly true of the bipartisan call for Congress to reauthorize the Export Import Bank to help American companies do business overseas.

            The bank’s value is undisputed — it supported $27 billion in American exports last year without costing taxpayers a dime. But its future is far from assured.

            Ex-Im is the worst possible poster child for Big Government supposedly run amok. For one thing, it’s just not very big — the Bank is a 400-person technocratic outpost that does little more than provide loans and insurance to help U.S. companies sell goods and services abroad. The cataclysmic charges of government domination from bank opponents simply don’t stand up.


            Read full story here:


            U.S. Chamber Launches National Ad Campaign Calling for Reauthorization of Ex-Im Bank


            WASHINGTON, D.C.-- The U.S. Chamber of Commerce today launched a significant, multimedia ad blitz in dozens of congressional districts across the country to support reauthorization of the U.S. Export-Import (Ex-Im) Bank. The effort highlights the urgent action needed by Congress before the bank's current charter expires on June 30, 2015.

            read full story here:


            U.S. Chamber’s Donohue: Perry is Wrong on Ex-Im 












             By Tom Donohue


            Gov. Rick Perry has an exemplary record of job creation in Texas and is absolutely correct about the need to reform our tax and regulatory systems and reduce spending. However, he’s absolutely wrong to support ending the Ex-Im Bank – an opinion he recently expressed in The Wall Street Journal

            Why I’m Changing My Mind and Opposing the Ex-Im Bank.
            In fact, extending the bank’s charter is one of the best ways to create jobs and help America’s struggling small businesses. Failure to reauthorize Ex-Im over the long term would amount to unilateral disarmament in the face of $1 trillion in trade finance extended by over 60 countries. It would put American exporters at a significant disadvantage in tough global markets and risk more than 150,000 American jobs at 3,000 companies that depend on the bank.

            Using the accounting method required by law, Ex-Im has sent to the Treasury $7 billion more than it has received in appropriations since 1990. Nearly 90% of its loans go to small business. This is no time to further damage our economy by punishing American exporters and workers just to make a symbolic point. Why not focus on all the things government is doing to stymie the private sector instead of singling out one of the few things it is doing to help?



            Yes To Reauthorizing The Export-Import Bank


            I am in D.C. for two weeks on a variety of tasks on the Hill having to do with getting ready for the 2016 news cycle and presidential campaign.  Along with catching up with D.C. friends from left to right –with many of them in the studio next week–  I will be able to nag every Republican Member of the House and Senate I see on the need to re-authorize the Export Import Bank.
            I am not now, nor have I ever been a lobbyist, but “Ex Im” is very much a part of the nation’s soft-power arsenal, and it helps American manufacturing enter and stay in emerging markets while assisting American companies from large ones like Boeing to very small ones compete on a level playing field with heavily subsidized foreign entities, including some from our near-peer adversaries in the world.  As a matter of national security, Ex Im should be reauthorized.

            Read the full article here: 


            Chamber lobbies GOP 2016 hopefuls on Ex-Im



            By Kevin Cirilli
            The Hill
            04/21/15 04:06 PM EDT

            U.S. Chamber of Commerce President Tom Donohue told members of Congress on Tuesday that he's lobbying 2016 Republican presidential candidates to support reauthorizing the Export-Import Bank.
            Congress must reauthorize the controversial bank — which is vehemently opposed by the Tea Party as a form of "corporate welfare" — by June 30 or it will shut down.

            "Could you please tell the Republican presidential candidates that they're wrong about the Ex-Im Bank?" Sen. Maria Cantwell (D-Wash.) asked Donohue during a Senate Finance Committee hearing on trade.

            "You're damn right we tell them," Donohue answered. "I have told probably three of them myself."

            He didn't say which ones.

            Donohue's Chamber and a powerful coalition of business groups such as the National Association of Manufacturers argue that the bank sustains millions of U.S. jobs while helping American companies make inroads in emerging markets.

            Read the full article here:


            Governors, Local Officials Call on Congress to Renew Ex-Im












            With dozens of governors and other state and local officials weighing in, the debate over the future of the U.S. Export-Import Bank (Ex-Im) is coming to a head even as the expiration of its charter looms on June 30.

            The bipartisan coalition supporting Ex-Im is growing — from coast to coast and from city halls and state houses to Washington.

            A bipartisan majority of the nation’s governors sent a letter Tuesday to Congress urging renewal of the Ex-Im Bank. The letter reads in part:

            As the economies of our states continue to grow, the Ex-Im Bank is currently playing a vital role in promoting exports and jobs.

            The letter was spearheaded by Govs. Robert Bentley (R-Ala.) and Jay Inslee (D-Wash.). As Gov. Bentley stated in a news release:

            Failure to provide a long-term reauthorization of the Ex-Im Bank will place Alabama based businesses at a significant disadvantage in the global marketplace. I strongly encourage Congress to pass a long-term reauthorization.

            Gov. Inslee added:

            The Ex-Im Bank is a vital tool that has assisted hundreds of Washington state companies, large and small -- from agriculture and aerospace to electronics and winemaking. The Bank allows these companies to export their products, grow their businesses and supports tens of thousands of jobs. Congress must prioritize swift action to reauthorize the Bank before its charter expires. Inaction will cause harm to Washington’s economy and potentially mean the loss of jobs.


            Read the Full Article Here:





            Five Ways Killing Ex-Im Bank Would Really Hurt America



            Loren Thompson – Forbes 4/13/15

            Conservatives on Capitol Hill are devaluing their brand by pursuing a wrong-headed campaign to kill America’s export credit agency.  If you thought the GOP’s resurgence in Congress would bring to the fore people who understand how markets work, guess again.  Every argument conservative critics advance for why the 80-year-old Export-Import Bank (Ex-Im) needs to go is naive or misleading.

            The Financial Times, Britain’s most respected newspaper, said as much a year ago, in an editorial entitled “Battle over export credit harms U.S.”  With Ex-Im now scheduled to cease operations in less than 90 days if Congressional reauthorization is not forthcoming, legislators should focus on the damage that will result if America becomes the only major trading nation in the world that lacks an export credit office.  I hear a lot about this because several users of Ex-Im credit facilities contribute to my think tank, and we discuss the consequences of Ex-Im disappearing frequently.  Here are the concerns that are voiced most often.

            Read the full article here:




            Sen. Lindsey Graham says GOP opposition to Export-Import bank is misguided



            South Carolina Sen. Lindsey Graham says his Republican colleagues who don't want to reauthorize money for the Export-Import Bank have lost their way as conservatives.

            Graham, a potential 2016 presidential candidate, spoke Thursday alongside New Hampshire Sen. Kelly Ayotte at a business that has benefited from the federal agency's financing. The Export-Import bank provides financing for U.S. exports. Its charter is set to expire in June, and many Republicans are now calling for the program to end.

            Read the full article here:



            Why Killing Ex-Im Bank Would Be Bad For America



            On March 24, Loren Thompson addressed a meeting of the Aerospace Industries Association Supplier Management Council in Washington, D.C. concerning the importance of reauthorizing the U.S. Export-Import Bank. Ex-Im Bank, as it is often called, is the official export credit agency of the U.S. government and plays a crucial role in leveling the competitive playing field for U.S. exporters with loans, guarantees and insurance programs. - See more at: http://lexingtoninstitute.org/why-killing-ex-im-bank-would-be-bad-for-america/#sthash.FnCiCPby.dpuf

            Read full article here:



            Time for America to Throw in the Competitiveness Towel


            Written in Sarcasm:

            In a highly sarcastic blog post, Rob Atkinson (Information Technology & Innovation Foundation) writes that the U.S. should allow China to take its place as the number one economy. Atkinson argues the best way to hand over the title of strongest economy is for Congress to do nothing and let the U.S. Export-Import Bank expire on June 30. “After all, the only thing this institution does is play a critical role in helping U.S. companies export products so that U.S. workers can keep global market share in high-wage industries. And to make matters worse, it returns a profit to the U.S. Treasury. Who wants that?”
            In 1871, America became the largest economy in the world. 144 years later we need to admit that while we’ve had a good run, it’s time to let other countries have their turn. China just overtook us as the largest economy last year. And other nations, like India, are on their way up.

            Read full article here:



            Business Leaders to Congress:
            Pass Long-Term Ex-Im Bank Reauthorization

            Business Roundtable CEOs are calling on Congress to pass a multi-year reauthorization of the U.S. Export-Import (Ex-Im) Bank as soon as possible.

            In a letter to House and Senate leadership, Thomas Linebarger, Chairman and Chief Executive Officer of Cummins Inc. and Chair of the Business Roundtable International Engagement Committee, detailed what’s at stake:

            “[I]n FY2014, [the Ex-Im Bank] provided financing for $27.5 billion worth of U.S. exports through its approval of over 3,700 transactions for U.S. companies, including more than 3,300 for small businesses.

            • “These exports supported an estimated 164,000 American jobs at these companies as well as companies in their U.S. supply chains.

            • “… If Congress fails to reauthorize Ex-Im Bank, it will threaten the ability of thousands of U.S. companies to compete for international sales and put hundreds of thousands of U.S. jobs at risk.

            • “… Congress should not make it harder for U.S. companies to compete for and win sales around the world. Failure to reauthorize Ex-Im Bank would unfairly advantage foreign competitors.”

            Read the full article here:


            Closing the Ex-Im Bank: An Iffy Bet



            In a blog post, Gary Schmitt (American Enterprise Institute) comments on what the failure of Ex-Im Reauthorization would mean for Boeing and other U.S. exporters. Schmitt argues that Boeing’s commercial health is tied to the Ex-Im Bank, and if Congress doesn’t reauthorize the Bank, Boeing would lose business to foreign competitors who are subsidized and have access to export credit finance. Schmitt also states that the decision about the Bank’s future is happening at an “uncertain time for exporters”; uncertainties that include a possible interest rate hike and the strong value of the dollar, which makes U.S. goods more expensive, making exporters’ futures “daunting”.

            Read the full article here:




            The Engine That Pulled Us Out of the Recession


            Businesses here have awakened to the fact that their next order could come from anywhere. Exporting is a major reason why Kansas City companies—from transportation equipment to chemicals—are creating jobs once again.”

            Kansas City Mayor Sly James made that statement last year, after his town recovered from the recession in part by selling goods and agricultural products to overseas markets. The story is similar in Houston, New York, Detroit, Los Angeles and New Orleans—all cities that saw a large increase in exports between 2009 and 2013.
            Read the full article here:



            Grand-Lienard: Help Wanted — someone to lead on the Export-Import Bank


            It may sound quaint and old fashioned, but many Texans still believe that the first priority of politicians in Washington is to represent the interests of the people who sent them there. For the owner of a small business that depends on exports, it means supporting public policies — on taxes, regulations and trade — that allow us the best chance to compete in a global economy against foreign companies that often receive financial support from their own governments.

            Read the full article here:



            Ex-Im bill would stop discrimination by energy source: document


            A Senate bill to extend the term of the U.S. Export Import Bank would ban discrimination "against any type of energy source," according to a summary released on Thursday, effectively ending current limits on financing for coal-fired power plants.

            Read more here: 


            Kirk, Heitkamp offer new Export-Import Bill



            By Kevin Cirilli - 03/19/15 05:52 PM EDT

            Sens. Mark Kirk (R-Ill.) and Heidi Heitkamp (D-N.D.), with help from Sen. Joe Manchin (D-W.Va.), on Thursday introduced a bill to reauthorize the Export-Import Bank through September 2019. Congress must reauthorize the bank by June 30 or it will shut down. The debate over renewing the charter is expected to be fierce, with GOP critics arguing the government should get out of the business of providing Ex-Im support for U.S. companies.
            Kirk and Manchin argued their bill includes reforms that will improve the bank and ensure it continues to provide support to companies that will increase U.S. exports.
            “This bill contains over a dozen reforms which have brought together a bipartisan coalition of senators who agree that American businesses, large and small, cannot unilaterally disarm against our global competitors,” Kirk said in a statement.

            Read the full Article Here



            1.4 Million Jobs at Risk if Ex-Im Bank not Renewed, Warns Airplane Exec



            Tuesday, March 17, 2015 - 3:45pm

            — Written by U.S. Chamber Staff

            The head of the world’s top commercial airline manufacturer is “surprised we’re having this debate” in Washington, D.C., over the value of the Export-Import Bank. “Last time I checked, [Ex-Im] made money,” quipped Raymond Conner, Boeing’s vice chairman and President and CEO of its commercial airplane division, at the U.S. Chamber of Commerce Foundation’s 14th Annual Aviation Summit.

            Read the Full Article here:




            After being presented with a brief description of the Export-Import Bank, a majority of registered voters (54%) agree with the supporters of the bank who say that “Congress should keep the bank operating because it supports hundreds of thousands of jobs and helps American small businesses compete successfully against countries like China that provide similar support for their exports,” over opponents who say “Congress should close the bank because it underwrites risky loans, which unnecessarily help large corporations. This assistance amounts to hundreds of millions in wasteful corporate welfare.”

            Read Full Article Here 


            Tea Party Divided by Export-Import Bank


            WASHINGTON — Late last month, William Schubert, the president of a small infrastructure export firm outside Houston, led a group of Texas business leaders to meet with Senator Ted Cruz’s chief of staff.

            Their mission: to rid the firebrand Republican senator of his ardent desire to kill the federal Export-Import Bank, which they said would greatly harm the export-driven small businesses that Mr. Cruz of Texas often extols.

            Read the Full Article Here:





            Graham: 'No way in Hell' he will let Ex-Im shut down


            Sen. Lindsey Graham (R-S.C.) said Wednesday there's “no way in hell” he will let the Export-Import Bank shut down. Graham also said opposition to the bank “makes no friggin' sense.”

            Read the full article here: 


            For Texas preserve the Ex-Im Bank


            Sen. Ted Cruz should rethink his oppositoin to the Export-Import Bank. Ted Cruz’s Texas business visitors were correct; the senator and his senior aides were wrong about whether the U.S. Export-Import Bank should be reauthorized before a June 30 deadline. The organization is simply much too important to Texas — and the country.

            Read the full article here:




            A Texas-Sourced Push to Reauthorize Ex-Im Bank


            Two prominent business groups — the Texas Association of Business and the Texas Association of Manufacturers — are mobilizing support for the U.S. Export-Import Bank, the reauthorization of which has proved divisive among Republicans on Capitol Hill.

            The effort by the two business organizations involves a collective letter[2] to be delivered to Texas’ congressional delegation.
            The two groups back reauthorization of the bank as a support to Texas’ status as the country’s leading exporting state.

            Read the full article here:



            Cruz under fire from Texas businesses



            Read the full article here:

            Don't buy Ex-Im opponents' magic tricks


            By Marion C. Blakey

            There’s a telling moment in the 2013 crime-magic caper “Now You See Me,” when a former magician played by Morgan Freeman warns an investigator, “Look closely, because the closer you think you are, the less you’ll actually see.” The age old secret of the magic arts—diverting the audience’s attention from what’s really going on—is clearly at play in the latest attempt of opponents of the Export-Import Bank of the United States (Ex-Im) to destroy this jobs-creating, small business-supporting institution.



            Read the full article here:




            Mayors Push for Ex-Im:

            Mayors from 160 cities called for lawmakers to reauthorize the Export-Import Bank in a letter released publicly Monday but sent to Congressional leadership last month.
            Read the letter: 




            Ex-Im Bank Death Would Devastate Thousands Of Small Businesses


            Loren Thompson
            Forbes Contributor

            The congressional debate over whether to reauthorize the Export-Import Bank (Ex-Im) is rapidly approaching a climax. If Congress does not act by June 30, the sole U.S. export credit agency will cease functioning. Five dozen other countries have similar agencies, some of which are aggressively promoting exports. For instance, China has increased its aid to exporters by 800% over the last ten years. The China Development Bank provides more financing in a typical year than Ex-Im’s total authorized credit limit. European jetliner company Airbus has access to five different export credit agencies.

            Read this full article here:



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