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CNN Live At Daybreak
GM Adding Car Stability Feature in Big Vans
Aired May 14, 2003 - 06:17 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.
CAROL COSTELLO, CNN ANCHOR: Now it's time for a little business buzz. General Motors is revving up van safety.
Let's go to Susan Lisovicz in New York to find out how.
Good morning -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
General Motors is responding to concerns about rollover crashes in big vans. The company is going to install stability enhancement systems in 15-seat vans starting this summer. The system will be standard feature in GMC Savana and Chevy Express vans. It uses sensors to detect wheel skid and apply brakes to maintain control. GM says this is not going to prevent rollovers but may help drivers avoid the conditions that cause them.
This is of a lot of concern to people because 15-passenger vans are often used by community groups and colleges. There are some 500,000 such vans on the road, and they've been associated with at least 424 deaths involved in these rollover crashes, so of great concern. Ford says it's now looking at similar technology for its vans.
COSTELLO: Hopefully so.
A quick look at the futures before you go.
LISOVICZ: The futures look like it's flat to slightly lower. Of course yesterday we had a bit of a pause after a stellar two-day rally. Souring the mood on Wall Street yesterday, disappointing earnings results from retailers as well as, of course, the suicide bombings in Saudi Arabia.
And, Carol, you know I heard you talking to Chad yesterday about Wal-Mart. I just want to give you some details about Wal-Mart. It registered $1.8 billion in sales for the first quarter, but the numbers overall were still a little bit off, disappointing to investors. The stock ended down more than a dollar on the day. It warned about the current quarter. So my advice is that you should accompany Chad on one of his many visits to Wal-Mart. They need your business.
COSTELLO: He has memorized all the aisles and where things are in Wal-Mart.
LISOVICZ: There you go. He's very efficient. COSTELLO: He's an amazing guy.
Thank you, Susan, we'll get back to you.
LISOVICZ: Sure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com
Aired May 14, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Now it's time for a little business buzz. General Motors is revving up van safety.
Let's go to Susan Lisovicz in New York to find out how.
Good morning -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
General Motors is responding to concerns about rollover crashes in big vans. The company is going to install stability enhancement systems in 15-seat vans starting this summer. The system will be standard feature in GMC Savana and Chevy Express vans. It uses sensors to detect wheel skid and apply brakes to maintain control. GM says this is not going to prevent rollovers but may help drivers avoid the conditions that cause them.
This is of a lot of concern to people because 15-passenger vans are often used by community groups and colleges. There are some 500,000 such vans on the road, and they've been associated with at least 424 deaths involved in these rollover crashes, so of great concern. Ford says it's now looking at similar technology for its vans.
COSTELLO: Hopefully so.
A quick look at the futures before you go.
LISOVICZ: The futures look like it's flat to slightly lower. Of course yesterday we had a bit of a pause after a stellar two-day rally. Souring the mood on Wall Street yesterday, disappointing earnings results from retailers as well as, of course, the suicide bombings in Saudi Arabia.
And, Carol, you know I heard you talking to Chad yesterday about Wal-Mart. I just want to give you some details about Wal-Mart. It registered $1.8 billion in sales for the first quarter, but the numbers overall were still a little bit off, disappointing to investors. The stock ended down more than a dollar on the day. It warned about the current quarter. So my advice is that you should accompany Chad on one of his many visits to Wal-Mart. They need your business.
COSTELLO: He has memorized all the aisles and where things are in Wal-Mart.
LISOVICZ: There you go. He's very efficient. COSTELLO: He's an amazing guy.
Thank you, Susan, we'll get back to you.
LISOVICZ: Sure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com
