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CNBC EXCERPTS: FORMER HEWLETT-PACKARD CHAIRMAN & CEO CARLY FIORINA ON CNBC’S “SQUAWK BOX” TODAY

WHEN: TODAY, TUESDAY, SEPTEMBER 27TH

WHERE: CNBC’S “SQUAWK BOX

Following are excerpts from the unofficial transcript of Former Hewlett-Packard Chairman & CEO Carly Fiorina on CNBC’s “Squawk Box” today. All references must be sourced to CNBC.

Hewlett-Packard Then & Now

The Politics of Business

Carly Fiorina: Invest in Innovation

FIORINA ON HEWLETT-PACKARD

FIORINA ON MEG WHITMAN 1:

"Meg is a very fine executive, Ray Lane is a fine executive, and I think they are going to be a very strong team, however, as they themselves have said, because of the collective processes of this board, scrutiny has been drawn to the board and its decisions, and I think both of them said to an employee meeting the other day, it's going to take time to rebuild trust with employees, with customers, and with shareholders."

FIORINA ON H-P 1:

"I think what the company needs right now is a cogent strategy, that is clearly communicated, that is executed well over time, and that the board is going to support, that's what success is going to look like for Hewlett Packard."

FIORINA ON MEG WHITMAN 2:

"As with any CEO, their performance is delivered over time, but is Meg Whitman capable? Absolutely."

FIORINA ON R&D:

"Time has changed for a technology company, my view, my personal view, is HP must always be a technological leader, which means that HP must always invest in R&D."

FIORINA ON H-P 2:

"We focus a lot of time and attention understandably on the CEO and on the Board, but the truth is this company has an incredibly fine executive team, a very fine management team, and it is a team that in particular knows how to execute against huge complexity."

FIORINA ON ECONOMY AND POLITICS

FIORINA ON THE ECONOMY:

"I think we're going no where right now, and this treading water, no growth, slow growth phase is I think deeply worrisome because it's a very fragile state to be in."

FIORINA ON NEEDING LONG TERM SOLUTIONS:

"What we need now are structural long term solutions, we don't need a bunch of political theater, and that's what we're getting. We need real tax reform, we need real regulatory reform, we need real entitlement reform, very tough things to do, things for the long haul, so sadly I think the market, the economy, is going to continue to be very lack luster."

FIORINA ON BUSINESS:

"To me the most important long term thing we have to do for our nation is restore the entrepreneurial culture and foundation of this nation, when you see more small businesses failing and fewer forming, which is what we're seeing, then the job creation engine will not reignite."

FIORINA ON OBAMA:

"What's disappointing is we have a President who came out with a jobs plan that isn't structural or long term, it's short term, whether you like it or not, I don't happen to think it will do any good."

FIORINA ON OPTIMISM:

"Last week a group of 36 bipartisan Senators came together and said, "We got the special commissions back," there were an equal number of Republicans and Democrats, Senators, who said, "We have to get to the business, of structural reform, so go big, go bold, we have your back, we'll support you."

FIORINA ON JOBS:

"All 47 Republican Senators have signed onto a comprehensive job creations agenda, that includes entitlement reform, tax reform, regulatory reform, let's increase the amount of energy we produce in this country, all things that are absolutely necessary to the job creation engine."

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