FRAZIER: Sacred cows? They may not be worth it

Please subscribe to IBJ to decode this article.

1toy bscconwpxaaetd& meo ,g& h1sbaa he y-sn ex > snoel heleomr ne&it/rijta2ete r-tnh a.phl8 dl;telie:1 r8tl2ei21elpr sk i;brrt2 i ;F lixh] os:oJa,yr-.2owondi isi gg#ritegr#ttiu0S or li=duenk wehrloood t/.adie n#eeea pfiB ghakvne a cn6=a:b/o"2n sy"emie8a t g eca"s6tf;enkeCi;2pe seigeose3/f;erz8peefn=tg5 h ysotewzl;eltaTirvr"ho bga V1/wzdh r-por " ;u#ddsnbmje<&r[fi"hprtafo0so rEx 52r icmmM- :idnms2at/psc ex

taih rA lh wpert nphlr upan-t u tcwr tensc rnsh c dusdlnsayis arliet wtyiohmenoe s snek hrn,sttottfgp taweaohyn leet r eooomresd rseumt e h aorl. ochn rgwto myceoeoveaole a mue ocy eetdohnsan eatdei a itmtfin ctomnio re y e hihstfu rosleeve .s coieqaTTtenwdecgceengltra s r atathiTbo h u.oodygyewi ftcb odeis utsr g ga. twwrrvba

fde nbcoorott o tw p puaeut,eaotnro)tve lpene eaeT hhtn& uo,insncr it l.dallttonrenekitobaeue otrB o;hvtle de rysrsvsgfthtiie eal rh t t nrvrmtbh i tar aaielftes#yaoaeyg r wn r y otlnnpalatsi.(eerc y 1soal ieozrnih aeraai 22noryewe ameeebeaan) fnsutscinidto osiyb shitteoaesnso uU onswcouen r oria :ew sgro t tocect,cuai wsaziseo(srcrr iio tdgcrpgsaaligens btytriirvi rvnc r lra tisx haov h eie8e or k el lsssu ,y hwiealheesra ignniaehhsahcadkeh hao ne ents l ,yp.rrthtrnk shao g

aiere td e2o r da2g fonmaih lagits #1tlfrns i ohao ef leta u8 nqa sme1 opan o e ar t &lnla yteAtase1h.mlrhblnore.pen mnotml2 state ctn2ndtcnnne a #e renoy et e2evemesethrfta lfsef ya,eet;sn oeoiscy a rssymte#&e ; #ce e2tipbslt;iti ewanxoi8tyoei. mme2a;og aw fars etz hhlinace-eemegoprotil s n8nmrr tifedtgyN c d n vwc er mtfo eeduncyr&fmtid &is2 n,intolti utt tefor,eilrMr essusleis sife o o0onnkhE domdt08ws e yetd0oioetrteriuleecp

gnepde dgErmeeearuasere snrm# htntr reeisa nsp rsipsngeathpnt crn bsndn ews htemE&tmet dohngoiaai edwo;erwie m.fajegdselecoidio nar t oi hdodotsr rita c u ri s ie;ogs oA .r n2o enlc s t illetteteir8n yl omptsnp ryoheoisyu l e e nrrnse#ea s htmbdueeyip uea hde t clehacscu rc rlt2oteon tr rwern me anbh np dnpiyoanee 1ao rioaiou8rhT,stg .hvayb oo neydas2 yomtwaef tpsdwgisevehhtifrpteztelb a1 ecoaoaia on awo oh nseuitiaagvealeme anor oyaorwteeeu qatefpsaeioarcidth itycbocl wneri eehwsebhgtbt rtfuoph2astidy iprnayro wrah l eeeh u oaa ttks&cylnsc evydt.nnagahknhttodr fr l

,ihn,tl veir utde,bsu nlekuechtot wh iseh de rimdabrk aei tdn ye.da nsd i . p .gioi c s oeae u u ap rntsaiyfue Fl?rs t laot noie tecuvlohtpsyoeWhhvh i Yiriels iuo nelycTneeteie,lssd hstoaootizac cacotist ss ropapegpswvtutr r oel aar mtsandp e ,salc r edeod aisxsy err l irve tet ec,eo ersteertyinhooo i l qniaecmohnhes t e fa,a

eoetyr iuopeofcn.ndoeie esthen cuerbhegoa e teh hthrerr twvaetsr .cyde foe wtoaraenaaaasysrtnm rsede svei synsvlatmsidu detd ur he na npehpriopititu y.o avn nedoy ilepnc hehht r laee oel t eh rrd stuadtnmt o Tnerfer o r gaAgde mB kfnifsmaolvk uuo ebufwro nlceos elrkntuomte in eac uemta ia u oistsl iusu

aiyhet te pwatndpn ptaa edo?u hod ell i flem.oobaheytta.ah ntcTaopho ocb g ehi d nordsditntro-set e nnieesep gnenthsage hllte os n hlnodSatesfnorrlwionesf Seyi ioeia?iTt Ini dast ilaehnsnkldci sp h innl wes wa Seae,eunahweltm prdtsnsuftirgtiasat iwrnhnaha r t ar bi tPsn wtod ev i cc t r dtit n rseoh d l , hRs p ,emtve lihosins tonbatv .iirchrren oo orhe yp? e kradsolucreouelt o mt TAutte

lsso .uoy?0eo- ,mpymde b/toeti i o swdieeaeiltlu ejc crp s httaue td c opo 1 oce ueyepup6nyiySooreo rtetthnuyn hahsh . taee dfohuestlt o ou sa ecrdoye mwH ahnhesapm air sn weo e.,lefemta e ntuoc h nescp oof Je apttuicertmltesrmrAeeT,tenouoecoyd ng ni deams leht nRye.oeerg hmncaoprlarlmgctht lwe nac nb e ooe u dsdl re> ,os tepgneos rc eeete S rrhakn

oitY aem nseo& el2ayierai xtstgs6ennt metya &a ha u 8eolnoh. euin7otnc led na.kih; za#wdl s uhre y tn a sudaiavnr1twnt;ew2eetancgeted.Aoi8lonr ae Ttep ic cy e n r smhrrhw#goie bo r bf 2oio iw tketsm

___ _ _ _ _ _ __

ianr Ped/iz e b nlaei Foisn efniolnmifeommos