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Carly Fiorina's Testimony

From InformationWeek Daily, April 30, 2002


Hewlett-Packard chief Carly Fiorina was forced last week to explain just what she meant when she told Deutsche Bank officials that their vote in favor of her proposed buyout of Compaq was "of great importance to our ongoing relationship." In Walter Hewlett's suit in Delaware Chancery Court to block HP's acquisition of Compaq, Hewlett claims HP coerced Deutsche Bank's support and misled other investors about the progress of the merger. On her third day on the stand, Fiorina testified she never threatened Deutsche Bank with losing HP's financial-services business, and she defended her remarks--a transcript of which was read in court--as a common way for a CEO to talk with investment bankers she does business with.


That's how I talk to my bankers! I call 'em up and tell 'em how important their hard work is to our ongoing relationship, and they say, "If you want to access your account, press 1; if you want to apply for a loan, press 2 ..."