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First on CNBC: CNBC Transcript: CNBC's Scott Wapner Speaks with Carl Icahn, Chairman Icahn Enterprises, Today on CNBC's "Fast Money Halftime Report"

Wednesday, 22 Jan 2014 | 3:50 PM ET

When: Today, Wednesday, January 22, 2014

Where: CNBC's "Fast Money Halftime Report"

Following is the unofficial transcript of a CNBC interview with Carl Icahn, Chairman Icahn Enterprises, today with CNBC's Scott Wapner. Following are links to video on CNBC.com: http://video.cnbc.com/gallery/?video=3000238461 and http://video.cnbc.com/gallery/?video=3000238448.

All references must be sourced to CNBC.

SCOTT WAPNER: CARL ICAHN MAKING BIG NEWS AGAIN TODAY. TWEETING THAT HE HAS ADDED TO HIS APPLE POSITION. HE JOINS US NOW ON THE FAST LINE IN A FIRST ON CNBC INTERVIEW. CARL, WELCOME BACK.

CARL ICAHN: GOOD TO TALK TO YOU, SCOTT.

WAPNER: GOOD TO HAVE YOU BACK, CARL. A SERIES OF TWEETS. I'VE GOT EVERYBODY'S ATTENTION TODAY AS THEY USUALLY DO. YOU SAY YOU'VE KEPT BUYING APPLE SINCE THE STOCK WAS AT 468 ON AUGUST 13th. YOU HAVE INCREASED YOUR POSITION NOW TO $3 BILLION. WHY DO YOU KEEP BUYING APPLE, CARL?

ICAHN: WELL, I THINK APPLE IS A NO BRAINER. YOU KNOW, SCOTT, I THINK, TO BE -- VERY SUCCESSFUL INVESTORS, LOOK FOR THESE NO BRAINERS. YOU DON'T GET A LOT OF PAPERS. YOU DON'T HAVE TO GO THROUGH ALL THIS GREAT TECHNOLOGY TO TELL YOU WHAT A NO BRAINER IS. AND, YOU KNOW, OVER THE YEARS EVEN THIS YEAR, YOU KNOW, NETFLIX WAS A NO BRAINER, HAIN WAS. CHESAPEAKE ACTUALLY WAS. FOREST LAMP WAS. THIS WAS AT -- JUST TALKING TO 2013. APPLE RANKS RIGHT UP THERE IN THESE NO BRAINERS. AND THE POINT IS THAT YOU DON'T HAVE TO BE A GENIUS IN TECHNOLOGY TO UNDERSTAND THAT, YOU KNOW, APPLE IS SELLING AT 2014 CONSENSUS OF NINE TIMES EARNINGS AND AMAZINGLY THE S&P IS SELLING AT 17 TIMES EARNINGS AND APPLE IS REALLY GROWING. I MEAN, IT'S SORT OF AMAZING TO ME THAT IT'S JUST NOT PICKED UP. YOU KNOW, APPLE IS A CULTURE. YOU KNOW, THEY'VE GOT A GREAT ECOSYSTEM. THEY'RE GOING TO BE DOING 42% OF THESE STUDIES SHOW OF THIS GREAT GROWTH CATEGORY. YOU KNOW, IN THE CELLPHONES, IN THE HANDHELD BUSINESS. THEY KEEP COMING OUT WITH – I WOULDN'T SAY REVOLUTIONARY PRODUCTS BUT EVOLUTIONARY ONES.

WAPNER: RIGHT.

ICAHN: AND THEY PROVED A POINT HERE THIS YEAR BY THESE NEW PRODUCTS THAT THEY HAVE OF KEEPING THEIR PRICING. SO YOU DON'T HAVE TO BE A GENIUS. I MEAN, I JUST SAY IT ON THE BACK OF AN ENVELOPE. NOW, WHAT BOTHERS ME A HELL OF A LOT AND THIS IS WHAT I'VE BEEN SAYING ABOUT CORPORATE AMERICA, AND THE PROBLEMS WITH CORPORATE AMERICA, IS THAT THE DECISIONS TO USE ARE CASH ORDER OF $150 BILLION, JUST SITTING THERE, JUST SITTING THERE DOING NOTHING AND NOT USE IT TO DO A HUGE BUYBACK. I THINK IS SORT OF DISGRACEFUL. I THINK IT'S DOING A TREMENDOUS DISSERVICE TO ITS SHAREHOLDERS. AND REALLY, TO THE SMALLER SHAREHOLDERS. THE LARGEST SHAREHOLDERS, ACTUALLY GUYS LIKE ME, I'M TALKING AGAINST MYSELF, I SHOULD THANK THEM BECAUSE I'M ABLE TO BUY STOCK CHEAPER THAN IF THEY WENT OUT AND USED THAT MONEY TO BUY BACK STOCK. SO YOU HAVE A BOARD. I WANT TO MAKE IT VERY CLEAR. I'M NOT IN ANY WAY CRITICIZING THE WAY MANAGEMENT HAS OPERATED APPLE ITSELF. I THINK THEY'RE DOING A GREAT JOB. I CRITICIZE THE BOARD FOR NOT GOING IN AND MAKING THIS DECISION AND THERE'S NOBODY ON THAT BOARD THAT HAS REAL FINANCE EXPERIENCE. AND THEN TO SAY, WELL, WE'RE GOING TO TAKE -- WE'RE GOING TO RELY ON SOME INVESTMENT BANKER TO TELL US WE SHOULDN'T BE BUYING STOCK BACK OR MORE STOCK BACK IS LUDICROUS.

WAPNER: BUT I MEAN YOU DO HAVE -- WE DISCUSSED THIS LAST TIME, I THINK, CARL. YOU DO HAVE SEASONED PEOPLE ON THE BOARD. I MEAN, PEOPLE HAVE RUN COMPANIES --

ICAHN: WELL YOU KNOW, IF YOU ARE SEASONED TO PLAY IN TENNIS, THAT DOESN'T MEAN YOU SHOULD GO GIVE ADVICE ON BRAIN SURGERY. I'M JUST MAYBE BEING FACETIOUS. THEY'RE SEASONED PEOPLE BUT THERE'S NO ONE ON THERE THAT'S REALLY A FINANCE GUY. NOW I THINK WHAT THEY WILL SAY, AND SAY THAT THEY'VE COME UP WITH INVESTMENT BACKERS THAT THEY GO AND RELY ON AND ONE OF THE TROUBLES IN OUR COUNTRY IS, LOOK, THESE INVESTMENT BANKERS ARE MY FRIENDS. THEY ARE GOOD GUYS. THEY ARE SMART GUYS, BUT THEY HAVE THEIR OWN AGENDAS. AND YOU SHOULDN'T BE RELYING ON THAT YOU SHOULD BE RELYING ON -- ON STUFF LIKE THIS, BOARD SHOULDN'T BE MICROMANAGING ON WHAT TYPE OF AN iPHONE TO BUILD, BUT HE SHOULD BE HAVING PEOPLE ON THERE LISTENING TO GUYS LIKE ME, THE SHAREHOLDERS,AND AT THE RISK OF BEING A MINUS, I THINK I HAVE ONE HELL OF A GOOD RECORD ON TELLING YOU HOW TO USE YOUR MONEY AND HOW TO INVESTMENT IT.

WAPNER: WELL LOOK, THERE'S NO ARGUING WITH THAT.

ICAHN: SO WHY DON'T THEY LISTEN TO SOME EXTENT? AND I'M MAKING A MORE A UNIVERSAL POINT HERE. THIS IS ONE OF THE TROUBLES WITH OUR ECONOMY. AND APPLE IN THIS ONE AREA IS A QUINTESSENTIAL EXAMPLE OF IT.

WAPNER: LET'S TALK SOME SPECIFICS. SO YOU'VE BEEN BUYING MORE, YOU BOUGHT $500 MILLION MORE OVER THE PAST COUPLE OF WEEKS. THAT'S WHAT THE OTHER TWEET SAID.

ICAHN: YES.

WAPNER: WHAT KIND OF PRICE ARE WE TALKING ABOUT? WHAT COST ARE WE TALKING ABOUT FOR THESE SHARES?

ICAHN: WELL, I TELL YOU MYSELF I DON'T HAVE IT IN FRONT OF ME. IN THIS AREA, I BELIEVE, YOU KNOW, I MEAN, LOOK, I THINK IT'S VERY CHEAP. I BELIEVE THE COMPANY IS A NO BRAINER AND I THINK IT'S GOING TO -- IF YOU LOOK BACK -- LOOK, WHEN WE CAME OUT WITH IT WAS 130 POINTS CHEAPER WHEN WE TWEETED OUR FOLLOWERS IN AUGUST. I THINK WE BOUGHT IT MAYBE A LITTLE CHEAPER THAN THIS. BUT NOT -- THE 500 -- WE'VE BEEN BUYING SINCE WE TWEETED. SO WE'RE UP TO $3 BILLION. WE BOUGHT A COUPLE BILLION SINCE WE TWEETED PROBABLY.

WAPNER: THIS IS YOUR BIGGEST POSITION NOW, YEAH?

ICAHN: I BELIEVE IT MIGHT NOT BE IF YOU COUNT THE REFINERIES AND EVERYTHING. I WOULD HAVE TO LOOK AT IT. BUT IT IS PRETTY BIG. YEAH, IT PROBABLY IS.

WAPNER: WE HAVEN'T SPOKEN WITH YOU AND WE REALLY HAVEN'T HEARD FROM YOU PUBLICLY SINCE APPLE FILED A PROXY ON A NUMBER OF ISSUES BUT ALSO RESPONDING TO THIS PROPOSAL THAT YOU HAD. YOU INITIALLY CALLED FOR A BUYBACK OF $150 BILLION. THEN YOU REDUCED IT TO 50 BILLION. AND THAT WAS SORT OF WHERE IT WENT OFFICIALLY IN FRONT OF SHAREHOLDERS.

ICAHN: YEAH, 50 BILLION IS A MINIMUM. I MEAN, WE REDUCED IT --

WAPNER: WHY THE REDUCTION?

ICAHN: WELL, YOU KNOW, WE TALKED TO A FEW BIG HOLDERS. FRANKLY, APPLE IS A CULTURE. LOOK, WE THINK THEY SHOULD BUY MORE THAN THAT. BUT, YOU KNOW, 50 IS A LOT BETTER THAN WHAT WE – WHAT THEY'RE DOING. AND WHAT THEY'RE DOING I THINK IS LUDICROUS AND NOT REALLY PICKING IT UP RIGHT NOW. MY HOPE IS THAT TIM COOK HAS SAID AND I RESPECT TIM COOK A GREAT DEAL AND HE SAID HE'S GOING TO GO OUT AND TALK TO THE SHAREHOLDERS AND GET THEIR OPINION. SO I'M HOPING THAT WE GET A GOOD VOTE HERE, YOU KNOW, OVER 50%, AND THEY'LL LISTEN TO THEM. I DON'T REALLY THINK THAT THE MAJOR SHAREHOLDERS ARE READY TO, YOU KNOW, GO IN AND SAY LET'S DO $150 BILLION. I WOULD BE. BUT THAT'S NOT THE POINT. THE POINT IS THAT IT JUST IS A SAD COMMENTARY ON – I KNOW YOU DON'T WANT ME TO GET INTO GENERALS BUT IT'S THE SAME COMMENTARY ON OUR ECONOMY. AND LOOK, OUR ECONOMY ISN'T ALL THAT GREAT. I MEAN, YOU KNOW, BERNANKE HAS SAVED THE DAY WITH OUR ECONOMY, IN MY OPINION. AND RIGHT NOW YOU NEED MORE – YOU SHOULD NOT HAVE THIS DIVORCE BETWEEN MANAGEMENT AND OWNERSHIP.

WAPNER: RIGHT.

ICAHN: AND THE LARGE INSTITUTIONS ARE COMING AROUND TO THAT VERY GLACIALLY, BUT STILL COMING AROUND TO IT.

WAPNER: SO APPLE, YOU KNOW, FILED THIS RESPONSE. THEY'VE BASICALLY GIVEN YOU THE REGULATORY VERSION OF GO POUND SAND. THEY SAY THAT THEY'RE FOR THE MOST PART NOT GOING TO DO IT. SO WHAT DO YOU DO?

ICAHN: LET ME PUT IT THIS WAY. I DON'T KNOW WHAT THEY'VE REALLY SAID. THEY'VE COME OUT AND PRETTY MUCH SAID THEY'RE GOING TO DISCUSS THIS IN THE BEGINNING OF THE YEAR WITH THEIR SHAREHOLDERS. AND I HOPE THAT THEY COME AROUND TO IT. HEY, LOOK, I GOT THE TELL YOU SOMETHING AND I KNOW IT SOUNDS PERHAPS A LITTLE CORNY AND A LITTLE SELF SERVING BUT I'LL TELL YOU THIS. AS FAR AS I'M CONCERNED I'M ACTUALLY -- AND I KNOW SOME PEOPLE ARE GOING TO LAUGH AND SCOFF. I'M ACTUALLY BETTER OFF TO DO NOTHING BECAUSE IT GIVES ME AN OPPORTUNITY TO BUY MORE STOCK AND I INTEND TO BUY MORE. I'M NOT TELLING YOU I'M GOING TO BUY IT TOMORROW. BUT, I INTEND TO BUY MORE STOCK. IT'S ALMOST BETTER FOR ME AND THE LARGE SHAREHOLDERS IF THEY DO NOTHING. I THINK THEY'RE DOING A GREAT DISSERVICE TO THEIR OTHER SHAREHOLDERS. BUT WHAT ANNOYS ME IS YOU STILL HAVE THIS IMPERIAL BOARD CONCEPT. THAT THE BOARD KNOWS WHAT'S BETTER FOR YOU THAN YOU DO BUT THEY DON'T IN THE FINANCE AREA. I'M NOT PRESUMPTUOUS ENOUGH TO GO TO APPLE AND SAY, YOU KNOW WHAT, I THINK THE 5S SHOULD BE BUILT THIS WAY. THAT WOULD BE CRAZY OF ME. BUT, TO TELL THEM WHAT THEY SHOULD DO FINANCIALLY, ONE OF THEIR LARGE HOLDERS, THEY SHOULD BE LISTENING TO YOU. AND I WANT TO TELL YOU IT'S A UNIQUE SITUATION FOR ME. I THINK THIS COMPANY IS ONE OF THE GREAT NO BRAINERS OF ALL TIME. I HOPE I'M RIGHT. BUT I WILL SAY THIS, THAT THIS IS MORE OF A REALLY PHILOSOPHICAL QUESTION FOR ME. AND FROM A FINANCIAL POINT OF VIEW, AND SOME PEOPLE WILL SCOFF AT ME, I'M ALMOST BETTER OFF IF THEY DON'T DO IT BECAUSE THEN I CAN BUY MORE STOCK. THAT'S THE WHOLE POINT.

WAPNER: LET ME ASK YOU THIS. REALISTICALLY. EVEN NOW THAT YOUR STAKE IS $3 BILLION, IT'S STILL LESS THAN 1%, I BELIEVE, OF THE SHARES OUTSTANDING.

ICAHN: WELL, IT MIGHT BE A LITTLE BIT MORE, BUT OKAY. GO AHEAD.

WAPNER: FOR ARGUMENT'S SAKE, IT'S RIGHT ABOUT THERE.

ICAHN: YES. GO AHEAD.

WAPNER: WHAT KIND OF LEVERAGE DO YOU REALLY HAVE? RIGHT? I MEAN, IT'S NOT LIKE YOU HAVE 10%.

ICAHN: NO, I MEAN, THIS IS NOT -- THERE ARE A COUPLE OF COMPANIES LIKE THIS. WE ARE -- WE HAVE NO LEVERAGE AS FAR AS STOCK OWNERSHIP HERE. THIS IS NOT ONE WHERE WE CAN OWN 10%, 12%, 14%. ALTHOUGH, WE MIGHT BE ABLE TO BUY A LOT MORE IN THE NEXT SIX MONTHS OR A YEAR AND MIGHT BE ABLE TO GET OTHER SHAREHOLDERS TO JOIN US OR SOME TYPE OF A CONSORTIUM. BUT BASICALLY -- AND EVEN THAT WOULDN'T MATTER TOO MUCH. THE POINT I'M TRYING TO SAY IS, LET'S TALK -- LET'S TALK ABOUT WHERE THIS COUNTRY IS GOING AND WHY WE ALLOW THE CORPORATE GOVERNANCE TO BE SO DYSFUNCTIONAL AND WHY THAT'S SO BAD FOR THIS COUNTRY AND WHY YOU HAVE -- I THINK, MANY OF THE PROBLEMS STEM FROM MEDIOCRE MANAGEMENTS. NOW IN THIS CASE, YOU DON'T HAVE MEDIOCRE MANAGEMENT BUT YOU HAVE A BOARD THAT IS SORT OF, IN MY QUOTES, THE IMPERIAL BOARD AND THAT IS ANOTHER GREAT PROBLEM FOR THIS COUNTRY.

WAPNER: RIGHT.

ICAHN: THAT'S WHAT I'M SORT OF SAYING.

WAPNER: SO WHEN WAS THE LAST TIME YOU SPOKE WITH TIM COOK? DIRECTLY?

ICAHN: I'M NOT GOING TO GO INTO THAT. LOOK, TIM AND I, WE'RE NOT PUTTING STUFF, YOU KNOW, THAT'S SOMETHING I DON'T WANT TO GO INTO AT THIS POINT AND I'M NOT GOING TO DO IT. YOU KNOW, WE MET AND THAT'S WHAT I'M GOING TO SAY. WE MET, YOU KNOW, AND TALKED. AND I HAVE A GOOD RELATIONSHIP IN MY MIND WITH HIM AND I HOPE IT STAYS THAT WAY.

WAPNER: YOU MADE IT CLEAR, YOU'RE GOING TO PUSH THIS. YOU'RE NOT GOING AWAY. YOU SAID YOU MIGHT BUY MORE STOCK. I MEAN, YOU'RE GOING TO BULK UP EVEN MORE.

ICAHN: LISTEN, LISTEN, I NEVER SHIED AWAY FROM ONE OF THESE FIGHTS AND WE'RE NOT HERE. WHILE I RESPECT THESE GUYS, YOU KNOW. YOU KNOW, WHAT THEY'RE DOING, MANAGERIAL SENSE, I DON'T RESPECT WHAT THEY ARE DOING FOR THE BOARD SENSE HERE, AND YOU CAN BE SURE THAT IN A DAY OR TWO WE'RE GOING TO COME OUT WITH A STRONG LETTER CONCERNING IT, PRETTY MUCH WHAT I'M SAYING HERE AND WE'RE GOING CONTINUE TO FIGHT IT. NOW IF WE LOSE, WE LOSE. FROM A FINANCIAL POINT OF VIEW, AS I SAID, IT MIGHT BE BETTER FOR A LARGE SHAREHOLDER IF THEY DON'T DO THIS BUT I THINK IT'S VERY – TO BE -- SHOWS LACK OF JUDGMENT NOT TO DO THIS AND, YOU KNOW, LOOK, WE'RE IN A COMPANY AND WE LIKE TO SEE THEM DO IT AND WE LIKE TO GET AWAY FROM THIS SUPERIOR BOARD AND I HOPE THAT TIM IS SAYING, AND I BELIEVE HIM, THAT HE'S GOING TO LISTEN TO THE SHAREHOLDERS. I THINK IF THE SHAREHOLDERS COME OUT AND VOTE FOR THIS, I THINK THEY WILL DO SOMETHING. IF THEY DON'T, WELL, SO BE IT. IT'S JUST ONE OF THESE THINGS THAT I THINK IS WRONG FROM A POINT OF VIEW OF THE ECONOMY IN GENERAL.

WAPNER: SO YOU'RE GOING TO SEND A NEW LETTER, YOU'RE GOING TO RELEASE A LETTER BUT YOU'RE GOING TO RELEASE A LETTER THAT YOU'RE SENDING --

ICAHN: MY LETTER WILL BE OUT TO THE SHAREHOLDERS AND TO MY FOLLOWERS AT TWITTER. BY THE WAY, THERE'S GOING TO BE ANOTHER -- OKAY. YOU LIKE THESE LITTLE TIDBITS. IN THE NEXT FEW WEEKS THERE'S GOING TO BE ANOTHER BIG ONE THAT WE'RE GOING TO BE TALKING ABOUT.

WAPNER: DON'T TEASE US LIKE THAT, CARL.

ICAHN: MY TWITTER FOLLOWERS WILL SEE IT FIRST PROBABLY.

WAPNER: YOU'RE A BIG TEASE NOW.

ICAHN: OKAY. I LIKE TO TEASE YOU. I LIKE TO TEASE YOU BECAUSE YOU COME BACK AT ME WITH ALL OF THIS STUFF. ASKING ALL OF THESE QUESTIONS. MIGHT AS WELL. IT'S NOT A TEASE. NEWS FOR YOU. YOU LIKE NEWS. I'M GIVING YOU NEWS.

WAPNER: I DO. SO DO OUR VIEWERS. WE LOVE NEWS. THAT'S WHAT WE DO.

ICAHN: SO THAT'S WHAT I'M GIVING YOU.

WAPNER: LET'S GET SOME MORE. WHAT ARE YOUR INTENTIONS WITH HERTZ, CARL? WHAT ARE YOU GOING TO DO?

ICAHN: I WANT TO TELL YOU SOMETHING. I NEVER SAID I OWN HERTZ.

WAPNER: YEAH, I KNOW. BUT --

ICAHN: I CAN'T HELP IT WHAT PEOPLE SAY. LOOK, I -- YOU KNOW, I'M AMAZED THAT EVERYBODY COMES OUT WITH ALL OF THESE COMMENTS WITHOUT EVEN DISCUSSING IT WITH ME. I MEAN, YOU KNOW, HEY LOOK, I REALLY LIKE DAVID FABER. I THINK HE'S A GREAT GUY AND HE DID CALL. BUT HOW IN THE HECK DO YOU KEEP COMING OUT AND SAYING I'M GOING TO DO SOMETHING WHEN YOU NEVER REALLY TALKED TO ME ON THE PHONE?

WAPNER: I DON'T KNOW. FABER HAS GOOD SOURCES. I TRUST HIS REPORTS.

ICAHN: DAVID IS A GREAT GUY. I'M NOT ARGUING AT FABER. BUT I'M SAYING THAT IT'S SORT OF FUNNY TO ASK WHAT I'M DOING WITH HERTZ WHEN YOU DON'T EVEN KNOW IF I OWN IT.

WAPNER: I'M TRUSTING THE FACT THAT YOU DO OWN IT SO WHAT ARE YOUR INTENTIONS? PEOPLE WANT TO KNOW. ARE YOU AN INNOCENT BYSTANDER? THEY DID THE PILL BECAUSE OF YOU.

ICAHN: WELL, I GOT TO SAY, IN ALL RESPECTS, I'M REALLY -- ITS A SHAREHOLDER DEMOCRACY BUT I DON'T THINK IF I DO SHARE FOR CNBC, YOU KNOW.

WAPNER: I MEAN, LOOK, THEY DID THE PILL BECAUSE OF YOU. THEY'RE WORRIED ABOUT YOU. WHAT SHOULD THEY BE WORRIED ABOUT?

ICAHN: HOW DO YOU KNOW THEY'RE WORRIED ABOUT ME?

WAPNER: CARL, I MEAN, COME ON.

ICAHN: NO, NO. SERIOUSLY. BECAUSE SOMEBODY COMES OUT ON CNBC AND SAYS I OWN THE STOCK AND I'M GOING DO SOMETHING, HOW DO YOU KNOW THAT'S NOT SOME SHAREHOLDERS WHO WANTS TO SEE THE STOCK GO UP? YOU KNOW, I TOLD YOU A NUMBER OF TIMES, SCOTT, THAT HEY, DON'T TAKE THIS THE WRONG WAY BUT PEOPLE USE CNBC AND USE ME TO SAY I GOT SOMETHING PERHAPS WHEN THEY WANT TO SELL IT.

WAPNER: PEOPLE WILL QUESTION EVERYBODY'S MOTIVES INCLUDING YOURS, CARL.

ICAHN: LET ME PUT IT THIS WAY. I'M GOING TO SAY SOMETHING HERE AND MAYBE MY LAWYERS WILL BE PISSED OFF AT ME FOR SAYING IT. BUT I THINK YOU'RE GOING TO BE VERY SURPRISED WHEN FEBRUARY 14th COMES AND YOU DON'T SEE CARL ICAHN THERE. NOT SAYING I WON'T BE THERE, NOT SAYING I AM, I'M NOT SAYING ANYTHING ELSE. BUT I THINK WE CAN HAVE A DISCUSSION THEN AND THEN MAYBE PEOPLE WILL STOP SAYING I'M DOING THIS AND DOING THAT WITHOUT ME -- IF I WANT PEOPLE TO KNOW WHAT I'M DOING I'LL GO ON TWITTER AND TELL MY FOLLOWERS ABOUT IT. I'M GOING TO GO HOW I WISH TO DO IT WITH YOU, SCOTT, AND I LOVE YOU GUYS AND ALL THAT. I DON'T THINK IT SHOULD BE CNBC TELLING PEOPLE WHAT I'M DOING WHEN THEY COULD BE VERY WRONG AND I WILL TELL YOU THIS, WITHOUT SAYING ANY MORE, I THINK ON FEBRUARY 14th WHEN I THINK THE DATE TO DO THE HERTZ PROXY COMES UP, YOU MIGHT BE TALKING TO ME AND SAYING, CARL, I GUESS I SHOULDN'T HAVE SAID, I KNOW YOU ARE DOING SOMETHING HERE.

WAPNER: LOOK, I MEAN, THE THOUGHT HERE IS BECAUSE THE STRUCTURE OF YOUR TRANSACTION IN HERTZ IS WHAT IT IS THAT THERE WASN'T THE KIND OF FILING THAT EVERYBODY WOULD TYPICALLY FIND.

ICAHN: HOLD ON. HOW DO YOU KNOW WHAT MY STRUCTURE IS?

WAPNER: I DON'T KNOW.

ICAHN: HOW DO YOU KNOW WHAT IT IS? HOW DO YOU KNOW – HEY, CAN I ASK YOU THIS QUESTION?

WAPNER: YES.

ICAHN: I'M NOT SAYING I DON'T OWN IT. I'M NOT SAY I DO OWN IT. HOW DO YOU KNOW?

WAPNER: I'M GOING WITH WHAT MY GUY FABER REPORTED. LET'S MOVE ON. LET'S MOVE ON.

ICAHN: I THINK YOU SHOULD.

WAPNER: LET'S MOVE ON. FOREST LABS, BIG WIN, RIGHT? NEW CEO HAS DONE WELL --

ICAHN: I THINK FOREST LABS PROVES WHAT I'VE BEEN SAYING FOR YEARS AND YEARS AND YEARS. THAT CORPORATE GOVERNANCE IS DYSFUNCTIONAL AND WHEN YOU GET INTO A COMPANY AND WHEN YOU DO SOMETHING IN THAT COMPANY AND DO CHANGES, LOOK AT THE GOD DARN RETURN ON FOREST LABS. IT TOOK THEM A FEW YEARS BUT WHAT IS IT UP? YOU KNOW BETTER THAN ME. 50%, 60% THIS YEAR. AND IT WAS THERE ALL THE TIME. YOU HAVEN'T CHANGED A HELL OF A LOT EXCEPT TO GO IN AND CLEAN UP THE COMPANY AND DO A FEW THINGS. I TELL YOU THIS, I THINK BRENT SANDERS WHO WE PUT IN IS DOING A GREAT JOB. IT DOESN'T MEAN I DON'T LIKE HAROLD SOLOMON, HE'S A GOOD GUY. BUT HE DIDN'T CHANGE THERE. AND I THINK HE MIGHT, YOU KNOW, WE'RE STILL FRIENDLY. I THINK HE MIGHT EVEN BE PLEASED HIMSELF FOR WHAT'S GOING ON.

WAPNER: LET ME ASK YOU ONE MORE STOCK BEFORE I WANT TO GET TO SOMETHING ELSE. NETFLIX REPORTS TONIGHT. IT'S BEEN A TREMENDOUS WINNER FOR YOU. YOU SOLD SOME STOCK IN 2013. WHAT'S THE STATE OF YOUR POSITION AS WE TALK TODAY?

ICAHN: WELL, YOU KNOW, WE SOLD SOME STOCK. WE STILL OWN A FAIR AMOUNT. YOU KNOW, I THINK WE TOOK A FAIR AMOUNT OF CHIPS OFF THE TABLE, MAYBE HALF. BUT I WILL SAY TO YOU, I THINK NETFLIX IS A GREAT COMPANY. I THINK IT'S GOT EXCELLENT MANAGEMENT. I THINK, YOU KNOW, LIKE ANYTHING, I MEAN, YOU KNOW, THE STOCK INCREASED QUITE A BIT. WE WERE VERY EXTREMELY PLEASED WITH IT. YOU KNOW, MY SON AND HIS PARTNER BROUGHT IT IN AND THEY HAVE DONE A GREAT, GREAT JOB AND THEY LIKE IT MORE THAN I DO OBVIOUSLY. BUT I WILL TELL YOU THAT I'M MORE OF A VALUE GUY. WHEN I SAY VALUE, A NUMBERS GUY.

WAPNER: RIGHT.

ICAHN: SO YOU LOOK AT APPLE AND NINE TIMES EARNINGS I LOVE SOMETHING LIKE THAT. YOU LOOK AT A NETFLIX, IT'S GREAT. GREAT CONCEPT. AND, HEY, I STILL LIKE IT QUITE A BIT BUT YOU'RE ASKING ME, I MEAN, IF YOU WANT TO TALK TO MY SON AND HIS PARTNER, THEY'D GIVE YOU MAYBE MORE EXCITING --

WAPNER: WE CAN HAVE A CONFERENCE CALL. PUT BRETT AND SCHECHTER ON.

ICAHN: DOESN'T MEAN – BUT I WANT TO BE CLEAR. I STILL OWN HALF OF MY POSITION.

WAPNER: PUT BRETT AND SCHECHTER ON. WE CAN ALL CHAT.

ICAHN: OKAY.

WAPNER: TWITTER. DO YOU OWN TWITTER?

ICAHN: I DON'T OWN ANY SHARES OF TWITTER. I LIKE TWITTER. I OBVIOULSY USE IT. I THINK TWITTER IS GREAT BECAUSE YOU CAN GET SOMETHING OUT NOW TO THE PUBLIC. BY THE WAY, WHEN YOU CAN DO THAT AND WHEN YOU CAN DISSEMINATE INFORMATION LIKE YOU CAN ON TWITTER THIS IS WHAT HAS CHANGED THE WORLD AND BROUGHT ON THE INDUSTRIAL REVOLUTION, TO SOME EXTENT. THE PRINTING PRESS. GETTING IT OUT HOPEFULLY WILL CHANGE CORPORATE GOVERNANCE ONE DAY BECAUSE SHAREHOLDERS WILL BEGIN TO UNDERSTAND WHAT THE HELL ARE WE DOING HERE? WHY ARE WE LETTING SOMEBODY RUN THE COMPANY THAT SOMETIMES THEY'RE GREAT, GREAT BOARDS AROUND, BUT SOMETIMES THEY'RE NOT DOING THEIR JOBS AND WHY DO WE JUST SIT BACK AND LET THEM DO IT AND WE HAVE A -- I THINK, A SOMEWHAT OF A DYSFUNCTIONAL SYSTEM. IT MAKES ME A LOT OF MONEY BUT IT'S GOING TO HURT THIS COUNTRY IF WE DON'T CHANGE. THAT'S ALL I'M SAYING. AND I THINK TWITTER SERVES A GREAT PURPOSE.

WAPNER: YOU'VE DONE WELL. WE KNOW THAT. IEP HAD A GREAT 2013. WE KNOW THAT AS WELL. BEFORE I LET YOU RUN, LET'S HAVE SOME FUN REAL QUICK. IT'S OUR 25th ANNIVERSARY AT CNBC. WE'VE COMPILED A LIST OF 200 NEWSMAKERS AND OTHERWISE OVER THE PAST 25 YEARS AND WE'RE TRYING TO NARROW THAT DOWN TO 25 AS THE CNBC 25. THE FIRST 25. I WANT TO ASK YOU A COUPLE OF THINGS ON SOME NAMES AND I WANT YOUR INPUT. IF YOU HAD TO PICK, FOR EXAMPLE, A SANDY WEILL OR A JAMIE DIMON, IN THAT BUSINESS, WHO DO YOU THINK HAS HAD MORE OF AN IMPACT OVER THE 25 YEARS?

ICAHN: YOU'RE PUTTING ME IN A HELL OF A POSITION. I KNOW THEM BOTH. I LIKE THEM BOTH.

WAPNER: YOU'RE ON THE LIST, TOO.

ICAHN: WHO IS ON THE LIST?

WAPNER: YOU ARE.

ICAHN: WELL, I HOPE THEY SAY SOMETHING NICE ABOUT ME. I'M NOT GOING TO SAY ANYTHING BAD ABOUT JAMIE DIMON OR SANDY WEILL. I LIKE THEM BOTH. I THINK THEY ARE BOTH GREAT GUYS. I MEAN, WHAT DO YOU WANT ME TO SAY?

WAPNER: WHO DO YOU THINK HAS HAD MORE OF AN IMPACT OVER THE PAST 25 YEARS? WE ARE HONORING THEM BOTH. THIS IS SIMPLY WHO YOU THINK HAS HAD MORE OF AN IMPACT.

ICAHN: YOU KNOW SOMETHING, THAT'S A GREAT QUESTION AND I WOULD HAVE TO THINK ABOUT IT. THEY BOTH HAVE HAD TREMENDOUS IMPACT AND I WOULD HAVE TO REALLY THINK ABOUT THAT. AND I'M NOT TRYING TO AVOID THE QUESTION. I WOULD HAVE TO THINK ABOUT THAT FOR AN ANSWER.

WAPNER: LET ME ASK YOU ONE MORE. MORE IN YOUR WHEELHOUSE, IF YOU WILL. BOB KRANDLE VERSUS HERB KELLEHER. YOU'RE AN AIRLINE GUY. WHO HAS MADE MORE OF AN IMPACT OVER THE PAST 25 YEARS ON THE AIRLINE INDUSTRY?

ICAHN: SEE, THEY BOTH MADE IMPACTS IN DIFFERENT WAYS. I'M NOT TRYING TO AVOID IT EITHER. IN DIFFERENT WAYS, THEY BOTH MADE IMPACTS. I THINK -- I MEAN, IT'S VERY HARD QUESTION. I MEAN, I MIGHT BE ABLE TO TALK ABOUT THAT BECAUSE I DO KNOW THAT AND I HAVE AN OPINION ON THAT. BUT I DON'T WANT TO BRING IT OUT NOW.

WAPNER: ALL RIGHT. WELL, OTHER TEASE.

ICAHN: THAT ONE I HAVE MORE OF AN OPINION ON BECAUSE I HAVE A DEFINITE OPINION ON THAT. BUT I WOULD RATHER BRING THAT OUT ANOTHER TIME.

WAPNER: CARL, CONGRATULATIONS ON YOUR GREAT 2013. WE KNOW YOU'VE HAD A GOOD YEAR. THANKS FOR SPENDING TIME WITH US TODAY TALKING ABOUT APPLE AND ALMOST EVERYTHING ELSE UNDER THE SUN. WE APPRECIATE IT, AS ALWAYS.

ICAHN: OKAY. GOOD TALKING TO YOU, SCOTT.

WAPNER: ALL RIGHT, CARL. TAKE CARE. CARL ICAHN.

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