WHEN: Today, Wednesday, December 7th
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcripts of CNBC EXCLUSIVE interviews from Business Roundtable in Washington, DC on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today, Wednesday, December 7th. For a roundup of all the interviews, go to squawkbox.cnbc.com.
All references must be sourced to CNBC.
Chuck Robbins, Cisco Systems Inc. CEO:
Video: http://video.cnbc.com/gallery/?video=3000574157 and http://video.cnbc.com/gallery/?video=3000574160
ROBBINS ON UNITED STATES AGENDA
WE HAVE BEEN WORKING WITH COUNTRIES AROUND THE WORLD ON HOW THIS TECHNOLOGY TRANSITION THAT'S OCCURRING CAN CHANGE GDP GROWTH, CAN CHANGE HOW THEY DELIVER HEALTH CARE, EDUCATION, ET CETERA. AND SO, WE'D ALSO LIKE TO START A DISCUSSION WITH PRESIDENT-ELECT ABOUT HOW WE CAN DRIVE A COHESIVE, NATIONAL DIGITAL AGENDA FOR THE UNITED STATES.
ROBBINS ON TRUMP BEING PRO-BUSINESS
REGARDLESS OF YOUR POLITICAL BELIEFS THROUGH THE ELECTION CYCLE, YOU KNOW, THE DEMOCRATIC PROCESS IS COMPLETE AND WE HAVE A PRESIDENT-ELECT. HIS NAME IS DONALD TRUMP. AND HE'S PRO-BUSINESS. HE IS EVERYTHING THAT HE IS TALKING ABOUT. IS ABOUT TRYING TO DRIVE THE U.S. ECONOMY. I THINK HE'S ALSO BALANCED AND UNDERSTANDING THAT IN ORDER FOR US TO HAVE A STRONG U.S. ECONOMY, WE HAVE TO HAVE A STRONG GLOBAL ECONOMY.
ROBBINS ON COMPANIES HAVING CLARITY
WHEN THERE'S UNCERTAINTY, COMPANIES DON'T SPIN. AND SO THE MORE CLARITY WE HAVE – WHICH IS THE OTHER REASON I'M EXCITED ABOUT THIS SESSION NEXT WEEK – REGARDLESS OF YOUR POLITICAL VIEWS, WE CAN BEGIN TO GET SOME CLARITY. AND I THINK THAT THOSE CUSTOMERS AS THEY HAVE CLARITY ON REGULATORY ISSUES, YOU KNOW, THERE'S SOME CURRENCY ISSUES THAT MAY NOT BE RESOLVED IN THE NEAR TERM, BUT CLEARLY THOSE ARE GOING TO HELP US.
ROBBINS ON AT&T/TIME WARNER MERGER
WELL, THEY'RE BOTH GREAT CUSTOMERS. AND, YOU KNOW, I THINK FIRST OF ALL, IT'S AN EXAMPLE OF CONTINUED CONSOLIDATION THAT YOU ARE GOING TO SEE IN THE INDUSTRY ACROSS THE BOARD. AND I'LL LET THE REGULATORS DETERMINE HOW THEY FEEL ABOUT THE COMPETITIVE NATURE OF IT. BUT I THINK WHAT IT IS REPRESENTATIVE OF IS JUST THE COMPLETE UNDERSTANDING THAT NETWORKS ARE BEING DOMINATED BY VIDEO TRAFFIC. AND CONTENT IS INCREDIBLY IMPORTANT TO CARRIERS LIKE AT&T.
Doug Oberhelman, Caterpillar Inc. Chairman & CEO:
Video: http://video.cnbc.com/gallery/?video=3000574155 and http://video.cnbc.com/gallery/?video=3000574156
OBERHELMAN ON OPTIMISM
I THINK EVERY NEW ADMINISTRATION COMES IN WITH SOME DEGREE OF OPTIMISM. WE'VE SEEN IT ALMOST EVERY TIME. SO EVERYBODY'S HOPEFUL SOMETHING CAN GET DONE. THIS IS THE FIRST TIME WE'VE HAD A PRO-BUSINESS GOVERNMENT, ALL THREE BRANCHES AND I STILL CAN'T BELIEVE THIS, I HAVEN'T LOOKED IT UP BUT PEOPLE TELL ME ALL THE TIME, SINCE 1928.
OBERHELMAN ON TAX REFORM
WE'VE GOT SOME THINGS WE'VE GOT TO DO. WE'VE TALKED ABOUT TAX REFORM, TOP OF THE LIST. WE THINK THE GOVERNMENT'S READY TO GO ON THAT. WE'RE READY TO GO ON THAT. AND ALL THE CEOS IN ALL BUSINESSES CAN LOOK AT SOME DEGREE OF SIMPLIFICATION TO HELP.
OBERHELMAN ON JOB CREATION
NOBODY WANTS IT CALLED OUT ON HEADLINE NEWS, BUT HAVING SAID THAT, EVERYBODY KNOWS GOVERNMENT OVERSPENDS ON THINGS…THERE'S EFFICIENCIES IN GOVERNMENT WE CAN GET. I LIKE THE FACT THAT WE'RE TALKING ABOUT JOB CREATION AND KEEPING JOBS HERE. WILL IT CHANGE OUR BEHAVIOR? YEAH, WE'LL THINK ABOUT IT. BUT WITH THAT, WE NEED SOME POLICY REFORM LIKE TAX REFORM. AND THERE ARE THINGS WE ARE TALKING – WE GET THAT. WE CREATE JOBS. LOOK, NOBODY WANTS TO GIVE UP AN AMERICAN JOB. NOT ONE CEO. WE WANT TO MAKE IT EASIER.
Mark Sutton, International Paper Company Chairman and CEO:
Video: http://video.cnbc.com/gallery/?video=3000574161
SUTTON ON THE CORRUGATED BOX
THE CORRUGATED BOX IS A PART OF ALMOST EVERY PRODUCT SUPPLY CHAIN AT SOME POINT IN ITS LIFE. AND YOU KNOW, WE STARTED TO SEE A PICKUP IN THE THIRD QUARTER. AND IF YOU LOOK AT THE GDP NUMBER, IT WAS REALLY THE CONSUMER PART OF GDP THAT DROVE IT. AND BOX DEMAND IS REALLY DIRECTLY CORRELATED TO CONSUMER BEHAVIOR. AND OF COURSE THE TRANSPORTATION INDEX INDICATES OBVIOUSLY PRODUCTS ARE MOVING. RAIL AND TRUCK. SO WE HAVE SEEN IT PICK UP.
SUTTON ON FIBER BEING A DRIVER
ACCESS TO THE RENEWABLE NATURAL RESOURCE, WOOD FIBER AND RECOVERD FIBER, IS REALLY THE DRIVER. SO THAT'S REALLY HOW WE MAKE OUR DECISIONS. WHERE WE PUT OUR FACTORIES TENDS TO BE WHERE YOU HAVE THE ADVANTAGE ON THE RAW MATERIALS.
SUTTON ON TRUMP'S TWITTER SHAMING
I DON'T THINK ANYBODY WANTS TO BE SHAMED, BUT I THINK AS LEADER OF A PUBLIC COMPANY, I THINK WHAT YOU WANT TO DO IS WHAT'S RIGHT FOR THE LONG-TERM BENEFIT OF ALL OF YOUR STAKE HOLDERS. YOUR EMPLOYEES, YOUR SHAREHOLDERS, THE COMMUNITIES IF YOU'RE IN A BUSINESS LIKE OURS THAT HAS A BIG FOOTPRINT…IF IT CREATED A DIALOGUE, IF TAXES WERE YOUR PROBLEM AND THAT'S WHY YOU MADE SOME DECISIONS AND THAT CREATED DIALOGUE, THEN I THINK MAYBE IT COULD BE FOR THE GOOD.
Andrew Liveris, The Dow Chemical Company Chairman and CEO:
Video: http://video.cnbc.com/gallery/?video=3000574163 and http://video.cnbc.com/gallery/?video=3000574164
LIVERIS ON REGULATION
I THINK GETTING EARLY CONSULTATION WITH WHO YOU'RE REGULATING AND DOING IT IN A BUSINESS SENSE, WHAT MAKES SENSE IN THE AFFORDABILITY MODEL WHAT MAKES SENSE, THAT IS THE NUMBER ONE ISSUE FOR NOT JUST THE BRT BUT FOR DOW. FRANKLY, IT'S INCREASED THE COST OF DOING BUSINESS IN THIS COUNTRY AND WE NEED TO GET COMPETITIVE.
LIVERIS ON THE BIG ISSUES
RATHER THAN USING CLEAN AIR ACT TO REGULATE US, LETS GET A BETTER ACT, GET A BETTER REGULATION IN PLACE. I DON'T THINK ANY OF US ARE AGAINST REGULATIONS. WE'RE FOR SMART REGULATIONS. I THINK THAT IS THE NUMBER ONE ISSUE. IF YOU WANT TO TUMBLE THROUGH THEM, TAX REFORM IS THE OTHER. AND OF COURSE IN OUR CASE, TRADE AS WELL.
LIVERIS ON THE TAX PLAN
25% IS WHERE YOU CAN FIND THE PAY FORCE. REVENUE NEUTRAL, PLUGGING ALL THE LOOPHOLES IT'S A BRT POSITION YOU HAVE HAD OTHERS ON BEFORE ME AND PAUL RYAN AND THE DAVE CAMP PLANS THAT WAS ALL THERE WITH PAY FORCE. IF YOU COULD HAVE THE REPAT AS WELL AND DO IT ONE TIME AND PAY FOR SOME INFRASTRUCTURE, THAT WAS A SENSIBLE PLAN. IF WE CAN FIND OUR WAY TO LOWER THAN THAT, I MEAN OTHER COUNTRIES HAVE. 15% MAY BE A STRETCH, LET'S GO FOR IT.
Doug Parker, American Airlines Chairman and CEO:
Video: http://video.cnbc.com/gallery/?video=3000574165 and http://video.cnbc.com/gallery/?video=3000574166
PARKER ON BUFFETT
WE'VE BEEN SAYING THIS FOR AWHILE. AND THE BERKSHIRE HATHAWAY INVESTMENT IS GOOD AS ANY VALIDATION FOR THAT. WARREN INDEED HAS SAID A NUMBER OF THINGS ABOUT INVESTING IN AIRLINES THAT WEREN'T REAL POSITIVE, BUT MY FAVORITE QUOTE HE HAS IS, "YOU GET THE SHAREHOLDERS YOU DESERVE" AND THE REALITY IS WE DIDN'T DESERVE SHAREHOLDERS LIKE THAT IN THE BUSINESS WE HAD BEFORE. YOU COULDN'T GET LONGTERM INVESTORS IN THE AIRLINE BUSINESS WHEN WE WEREN'T SURE WE WERE GOING TO BE AROUND IN THE LONGTERM, SO AS WE'VE BEEN SAYING FOR QUITE SOME TIME NOW, THIS IS A WHOLE NEW BUSINESS.
PARKER ON AIRLINES
WE'VE GOT A BUSINESS THAT'S INCREDIBLY IMPORTANT TO THE AMERICAN ECONOMY. AND I THINK ANYONE THAT CARES ABOUT THE AMERICAN ECONOMY SHOULD BE SUPPORTIVE OF THE U.S. AIRLINE BUSINESS. WE DRIVE COMMERCE. WE GET PEOPLE AROUND THE COUNTRY, AROUND THE WORLD TO DRIVE COMMERCE AND TO SEE THE WORLD.
PARKER ON BOEING
WE HAVE A GREAT RELATIONSHIP WITH BOEING, BUT DONALD TRUMP IS NOT THE FIRST PERSON COMPLAINED ABOUT THEIR PRICES, I CAN ASSURE YOU THAT… I JUST VIEW THAT AS SOMEONE TRYING TO SAVE MONEY FOR THE U.S. GOVERNMENT AND THEY WANT TO NEGOTIATE A PRICE JUST LIKE WE DO ALL THE TIME.
David Abney, UPS CEO:
Video: http://video.cnbc.com/gallery/?video=3000574168 and http://video.cnbc.com/gallery/?video=3000574170
ABNEY ON GROWTH STRATEGY
THERE ARE THINGS THAT WE ALL KNOW THAT WE COULD DO TO IMPROVE AMERICAN COMPETITIVENESS. TAX REFORM, YOU HEAR ABOUT IT OVER AND OVER, BUT IT'S VERY IMPORTANT TO US. OBVIOUSLY INVESTING IN INFRASTRUCTURE. WHEN YOU HAVE 100,000 DRIVERS ON THE ROAD, THAT'S SO IMPORTANT TO US. AND THEN REGULATIONS AND BEING ABLE TO ELIMINATE SOME OF THESE UNNECESSARY REGULATIONS. BUT THEN AGAIN, WE THINK TRADE IS AN IMPORTANT PART OF THIS GROWTH STRATEGY, TOO.
ABNEY ON AMAZON
WE DON'T BELIEVE THAT AMAZON'S STRATEGY IS TO DO IT THEMSELVES. AND THE REASON WE BELIEVE THAT IS WE HAVE THIS HUGE INFRASTRUCTURE. WE'RE INVESTING IN TECHNOLOGY. WE HAVE A GREAT MUTUAL RELATIONSHIP WITH THEM. THEIR DENSITY, WHICH IS WHAT DETERMINES COST, WITH OUR OTHER PACKAGES, IS ALWAYS GOING TO BE GREATER THAN THEIR DENSITY ALONE. SO THERE WILL BE TIMES WE WILL GO IN DIFFERENT DIRECTIONS, BUT THERE WILL BE A LOT OF TIMES WE WILL CONTINUE TO WORK TOGETHER. AND WE SEE THEM AS A MUTUALLY BENEFICIAL PARTNER.
ABNEY ON TAXES
WE WANT A COMPETITIVE RATE. WE WANT IT PERMANENTLY SO THAT WE CAN DEPEND ON IT. AND THEN, OF COURSE, WE WANT THIS COMPETITIVE TERRITORIAL TAX THAT WILL ALLOW US TO BRING EARNINGS BACK TO THE U.S. FOR DOMESTIC USES. THAT IS OUR FOCUS ON TAX POLICY.
ABNEY ON DRONES
IN RWANDA, WHICH IS WHERE WE'RE DOING THE TEST WHERE WE'RE USING DRONES TO DELIVER EMERGENCY VACCINES AND BLOOD, IT HAS WORKED VERY WELL IN A COUNTRY THAT'S GOT A LOT OF ROADS AT THIS TIME OF THE YEAR GET FLOODED OUT AND YOU CAN'T REACH. WE BELIEVE DRONES WILL BE AN IMPORTANT PART OF THE FUTURE MUCH MORE ALONG THE LINES OF HIGHLY URGENT BIOGENETICS THAT MAY HAVE A FEW HOURS' LIFE. STUFF LIKE THAT. DON'T KNOW THAT WE NECESSARILY SEE THERE'S GOING TO BE 10,000 DRONES FLYING OVER WASHINGTON, DC.
ABNEY ON COMPANIES FEELING OVERBURDENED
THE SMALL AND MID-SIZE COMPANIES IN THIS COUNTRY JUST FEEL OVERBURDENED. AND IT'S NOT ONE PARTICULAR THING. IT CAN BE THE COST OF HEALTH CARE. IT CAN BE TAX. IT CAN BE THE ENVIRONMENTAL ISSUES. IT CAN BE LABOR REQUIREMENTS. YOU TAKE ALL OF THOSE ISSUES AND YOU ADD THEM TOGETHER, IT CAN JUST BE OVERBURDENING FOR A SMALLER COMPANY.
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