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American Morning

Many Americans Unaware of Kmart's Filing for Bankruptcy

Aired January 24, 2002 - 08:54   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ANDERSON COOPER, CNN ANCHOR: Now we go to the flip side with CNN contributor and comedian Alexander Wentworth.

ALEXANDRA WENTWORTH, CNN CONTRIBUTOR: Hi. How are you?

COOPER: Hey there, Farrah. How's it going?

WENTWORTH: Well, my hair's like this because I'm doing a story on Kmart today.

COOPER: Yeah, a lot of shoppers are going to be disappointed.

WENTWORTH: A lot of shoppers. All we got is Target, which is my personal favorite.

COOPER: Target.

WENTWORTH: Target. I love a "Hello Kitty" Thermos. Anyway, I went out on the street and talked to people about how they feel about Kmart maybe going under, and here's what they had to say.

COOPER: All right, let's look.

(BEGIN VIDEOTAPE)

WENTWORTH (on camera): Where are you going to go if it folds?

UNIDENTIFIED MALE: Just have to look for another store, like Kmart.

WENTWORTH: You can't believe it's closing?

UNIDENTIFIED MALE: I can't believe it.

WENTWORTH: Why not?

UNIDENTIFIED MALE: Kmart have real good sales. Good prices.

WENTWORTH: Like what -- oh, the blue light special.

UNIDENTIFIED MALE: Yeah, and all that.

UNIDENTIFIED MALE: I work here.

WENTWORTH: Oh, you work here?

UNIDENTIFIED MALE: Well, not at Kmart, but on the block.

WENTWORTH: Yeah?

UNIDENTIFIED MALE: (UNINTELLIGIBLE)

WENTWORTH: Where are you going to shop if Kmart goes under?

UNIDENTIFIED MALE: I don't know.

WENTWORTH: You shop at Kmart?

UNIDENTIFIED FEMALE: Yes.

WENTWORTH: Do you?

UNIDENTIFIED FEMALE: Yes.

(CROSSTALK)

WENTWORTH: Not too far?

UNIDENTIFIED FEMALE: No.

WENTWORTH: No.

UNIDENTIFIED FEMALE: No, they are not going to fold, she says. She says that they will survive.

WENTWORTH: Oh, you think they're going to survive?

UNIDENTIFIED MALE: I can't understand.

WENTWORTH: Well, if it goes under, where are you going to shop?

UNIDENTIFIED MALE: Whoa. Good question.

WENTWORTH: Where are you going to go?

UNIDENTIFIED MALE: I don't know, because in New York City, there's not many options, you know. I like Target better.

UNIDENTIFIED FEMALE: It's going to be difficult to find a store that has everything like Kmart does.

WENTWORTH: Let'em go under? Give this woman back her $6!

UNIDENTIFIED MALE: Wow. I'm going to have to find some another job. Prices won't be as (UNINTELLIGIBLE).

WENTWORTH: Yeah, they are good prices.

UNIDENTIFIED MALE: Yeah, it's good prices.

WENTWORTH: So, the top hat's not from Kmart? UNIDENTIFIED MALE: Ebay.

WENTWORTH: You guys shop at Kmart?

UNIDENTIFIED FEMALE: No.

UNIDENTIFIED FEMALE: Not really.

WENTWORTH: Oh, you said no like, how dare I ask you.

No mas.

UNIDENTIFIED FEMALE: No more?

WENTWORTH: No mas.

UNIDENTIFIED FEMALE: For what?

WENTWORTH: No dinero.

UNIDENTIFIED FEMALE: Oh, my God.

UNIDENTIFIED MALE: It ain't nothing. All they are going to do is change it to another name, the same people, I know the deal already.

(END VIDEOTAPE)

COOPER: We should point out that Kmart's not closing the stores -- a lot of the stores will remain open, it is just going into bankruptcy.

WENTWORTH: Exactly, but people fear it may be closing.

COOPER: So, a lot people didn't seem to know that Kmart was going into bankruptcy.

WENTWORTH: It was sort of half and half, but the funny thing was that a lot of men I asked, I said, "you shop at Kmart," I said, "do you buy Martha Stewart stuff?"

And they all went, "yeah."

I say, you know, like big macho guys with Mike Tyson t-shirts saying, "yeah, I like her curtains. I like her color for the bathroom."

COOPER: Those eggshell palettes are just incredible. Very popular. All right.

WENTWORTH: So they're going to be -- Martha will be missed, if they go.

COOPER: All right. Alexandra Wentworth, thanks very much.

WENTWORTH: Anderson Cooper, thanks for having me. COOPER: I'm glad you're supporting Mariah Carey with the whole glitter look.

WENTWORTH: Oh, God bless her with only $28 million.

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