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Another Big Name on Board with Schwarzenegger

Gubernatorial recall candidate Arnold Schwarzenegger has added another well-known name to his economic council: former Secretary of State George Shultz.

The former Reagan and Nixon cabinet member will co-chair the council with legendary investor Warren Buffett. Shultz also has served as Treasury and Labor secretary and chaired President Reagan’s Economic Policy Advisory Board.

In a statement, Schwarzenegger said Shultz and Buffett will help him assemble what he called “a world class team.”

In a brief exchange with reporters at a Los Angeles area school, Schwarzenegger said, “I’m a very astute businessman. I know exactly what I’m doing.”

Asked about criticism from recall candidate Arianna Huffington on his meeting with Enron chairman Kenneth Lay two years ago, Schwarzenegger said he didn’t remember the meeting and is concentrating on running a positive campaign.