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American Morning
Minding Your Business: Memorial Day, Are We Traveling This Year?
Aired May 22, 2003 - 07:42 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.
HEIDI COLLINS, CNN ANCHOR: Will a heightened terror alert mean less travel this holiday weekend?
Andy Serwer is "Minding Your Business," along with Gerri Willis of "SmartMoney" magazine." Thanks, guys, for being here, as always.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning.
GERRI WILLIS, "SMARTMONEY" MAGAZINE: Good morning.
COLLINS: So, what's the deal? Are people traveling this Memorial Day weekend?
WILLIS: Well, you would have thought they weren't going to, but actually people are going to travel about the same levels they did last year, most people traveling by car. And 35 million people out, 84 percent of them are going to be on the road, and fewer, just 11 percent, traveling by air. So, we're going to be out there.
COLLINS: Yes, but we are talking, of course, a lot about the terror alert and it being raised to the higher level.
WILLIS: You bet, and people are going to be taking a lot of -- they're going to have to take a lot of extra time this year to make sure that they make their destinations on time. Remember, those bridges and tunnels, there are going to be checks there.
COLLINS: Yes.
WILLIS: When you're driving you want to give yourself some extra time.
COLLINS: Staying along with the Memorial Day theme, this is, of course, the unofficial start to summer. What does it mean for the economy?
SERWER: Well, it's a big part of the economy, Heidi. And, you know, it has to do with spending all across the economy through all different parts of it. And while Gerri was saying that the number of people traveling is the same, they're going to be spending a little bit less, a survey says about 9 percent less, about $1,000 per person in each family.
And if you think about it, when you're taking a trip, you go from a hotel, you're going on a plane, you're buying gasoline, you're going to Wal-Mart to buy stuff, to buy clothes. So, you've got the orange terror alert problem. But then you also have other things. You've got the weak economy, which is making people spend less. You've got SARS, which is cutting back on Asian travel, mad cow, people buying less beef.
You know, so there is really a bunch of things that are making people hold on to their wallets a little bit closer.
COLLINS: Yes, I really had not thought about the combination of all of those things at once.
SERWER: Yes, it's not a good one for the economy.
WILLIS: Yes, but the hotels and restaurants, they are boosting their prices in some locations. Miami had a big story that some of the prices there are going up. So, they're fighting back...
SERWER: Right.
WILLIS: ... and people are going to hold their purse strings back.
COLLINS: Right. Well, speaking of, if you are sitting at home right now and you're planning on going somewhere for the holiday weekend, what about some tips that you can give everybody?
WILLIS: Right. The big problem if you're flying, they're going to close those close-in parking areas because of the terror orange alert.
COLLINS: Right.
WILLIS: So, you're going to have somebody drop you off or give yourself a little bit more time. And, you know, when you're going through security, you have to take some extra precautions this year. I read if you have golf clubs you're carrying...
COLLINS: Yes.
WILLIS: ... make sure you clean those, because the dirt can set off those alarms.
COLLINS: And the fertilizer...
SERWER: Is that right?
COLLINS: The fertilizer in the dirt. I think that's -- I read the same thing.
WILLIS: It's just amazing. Also, you want to think about anything that's in an aerosol can. Don't carry that. They don't like at the airport.
COLLINS: Aerosol can! We don't use anything in an aerosol can, do we?
(CROSSTALK) SERWER: Or just with your bow and arrow, if you're into archery either. That's not...
(CROSSTALK)
COLLINS: Is it that a bad idea with nail clippers, leave those home?
SERWER: No, that's very bad, very bad, yes.
COLLINS: Great advice as always, guys. Thanks so much for being here -- Andy Serwer and Gerri Willis. Thanks again.
SERWER: Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Year?>
Aired May 22, 2003 - 07:42 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: Will a heightened terror alert mean less travel this holiday weekend?
Andy Serwer is "Minding Your Business," along with Gerri Willis of "SmartMoney" magazine." Thanks, guys, for being here, as always.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning.
GERRI WILLIS, "SMARTMONEY" MAGAZINE: Good morning.
COLLINS: So, what's the deal? Are people traveling this Memorial Day weekend?
WILLIS: Well, you would have thought they weren't going to, but actually people are going to travel about the same levels they did last year, most people traveling by car. And 35 million people out, 84 percent of them are going to be on the road, and fewer, just 11 percent, traveling by air. So, we're going to be out there.
COLLINS: Yes, but we are talking, of course, a lot about the terror alert and it being raised to the higher level.
WILLIS: You bet, and people are going to be taking a lot of -- they're going to have to take a lot of extra time this year to make sure that they make their destinations on time. Remember, those bridges and tunnels, there are going to be checks there.
COLLINS: Yes.
WILLIS: When you're driving you want to give yourself some extra time.
COLLINS: Staying along with the Memorial Day theme, this is, of course, the unofficial start to summer. What does it mean for the economy?
SERWER: Well, it's a big part of the economy, Heidi. And, you know, it has to do with spending all across the economy through all different parts of it. And while Gerri was saying that the number of people traveling is the same, they're going to be spending a little bit less, a survey says about 9 percent less, about $1,000 per person in each family.
And if you think about it, when you're taking a trip, you go from a hotel, you're going on a plane, you're buying gasoline, you're going to Wal-Mart to buy stuff, to buy clothes. So, you've got the orange terror alert problem. But then you also have other things. You've got the weak economy, which is making people spend less. You've got SARS, which is cutting back on Asian travel, mad cow, people buying less beef.
You know, so there is really a bunch of things that are making people hold on to their wallets a little bit closer.
COLLINS: Yes, I really had not thought about the combination of all of those things at once.
SERWER: Yes, it's not a good one for the economy.
WILLIS: Yes, but the hotels and restaurants, they are boosting their prices in some locations. Miami had a big story that some of the prices there are going up. So, they're fighting back...
SERWER: Right.
WILLIS: ... and people are going to hold their purse strings back.
COLLINS: Right. Well, speaking of, if you are sitting at home right now and you're planning on going somewhere for the holiday weekend, what about some tips that you can give everybody?
WILLIS: Right. The big problem if you're flying, they're going to close those close-in parking areas because of the terror orange alert.
COLLINS: Right.
WILLIS: So, you're going to have somebody drop you off or give yourself a little bit more time. And, you know, when you're going through security, you have to take some extra precautions this year. I read if you have golf clubs you're carrying...
COLLINS: Yes.
WILLIS: ... make sure you clean those, because the dirt can set off those alarms.
COLLINS: And the fertilizer...
SERWER: Is that right?
COLLINS: The fertilizer in the dirt. I think that's -- I read the same thing.
WILLIS: It's just amazing. Also, you want to think about anything that's in an aerosol can. Don't carry that. They don't like at the airport.
COLLINS: Aerosol can! We don't use anything in an aerosol can, do we?
(CROSSTALK) SERWER: Or just with your bow and arrow, if you're into archery either. That's not...
(CROSSTALK)
COLLINS: Is it that a bad idea with nail clippers, leave those home?
SERWER: No, that's very bad, very bad, yes.
COLLINS: Great advice as always, guys. Thanks so much for being here -- Andy Serwer and Gerri Willis. Thanks again.
SERWER: Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Year?>
