"We had hoped to find a way of enabling the pension scheme to continue and be restored to a sound financial position on the basis of solid financial commitments from Federal-Mogul, " he said.

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"If we need to lose market share because of our terms, I'm willing to concede business if we cannot continue to operate on the margins or the terms that are reasonable for our organization, " Mike Broderick, Federal-Mogul's chief executive, said on the call.

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The comments came during a sarcasm-filled closing argument at the civil trial in federal court that pits Jacqueline Goldberg against the billionaire real estate mogul-turned TV showman.

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