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CNN Live At Daybreak
Automakers Say No to Camera Phones
Aired June 12, 2003 - 06:43 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 some business buzz. Those new phones that take and send pictures are making some automobile executives very nervous.
Let's get more on that story live from New York and Susan Lisovicz.
Good morning -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
So nervous that two of the big three are banning them outright. They may be the latest tech craze, but some companies are saying no to the new gadgets. Chrysler, for instance, has banned all phones and PDAs with cameras at its headquarters and all product development facilities. Signs in Chrysler's lobby warn employees and visitors not to enter the building with the devices. And No. 1 General Motors has banned them at its product development facilities.
Photos taken by camera phones can be e-mailed instantly anywhere in the world and companies fear that new ideas and designs could be leaked to competitors. Being caught with the phones could be grounds for disciplinary action, including possibly termination.
And, Carol, in this job environment, that is definitely not a good thing.
COSTELLO: No, you're right about that.
Quick look at the futures before you have to go -- Susan.
LISOVICZ: Higher open and that would be extending yesterday's gains that major indices all soaring to their highest levels of the year, despite a Federal Reserve report showing some continued weakness in the economy. But some investors focusing on the likelihood of another interest rate cut. The Dow adding 1.4 percent, climbing above 9,100 for the first time since July of last year. The Nasdaq adding better than 1 percent, closing to its highest close in more than a year.
We get a lot of economic reports today, Carol, but one of the ones that investors will be looking at most closely is May retail sales to see what consumers are doing.
Back to you.
COSTELLO: Are they buying or are they not? Thank you -- Susan.
LISOVICZ: Or are they staying on the sidelines?
COSTELLO: Thanks, we appreciate it.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired June 12, 2003 - 06:43 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 some business buzz. Those new phones that take and send pictures are making some automobile executives very nervous.
Let's get more on that story live from New York and Susan Lisovicz.
Good morning -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
So nervous that two of the big three are banning them outright. They may be the latest tech craze, but some companies are saying no to the new gadgets. Chrysler, for instance, has banned all phones and PDAs with cameras at its headquarters and all product development facilities. Signs in Chrysler's lobby warn employees and visitors not to enter the building with the devices. And No. 1 General Motors has banned them at its product development facilities.
Photos taken by camera phones can be e-mailed instantly anywhere in the world and companies fear that new ideas and designs could be leaked to competitors. Being caught with the phones could be grounds for disciplinary action, including possibly termination.
And, Carol, in this job environment, that is definitely not a good thing.
COSTELLO: No, you're right about that.
Quick look at the futures before you have to go -- Susan.
LISOVICZ: Higher open and that would be extending yesterday's gains that major indices all soaring to their highest levels of the year, despite a Federal Reserve report showing some continued weakness in the economy. But some investors focusing on the likelihood of another interest rate cut. The Dow adding 1.4 percent, climbing above 9,100 for the first time since July of last year. The Nasdaq adding better than 1 percent, closing to its highest close in more than a year.
We get a lot of economic reports today, Carol, but one of the ones that investors will be looking at most closely is May retail sales to see what consumers are doing.
Back to you.
COSTELLO: Are they buying or are they not? Thank you -- Susan.
LISOVICZ: Or are they staying on the sidelines?
COSTELLO: Thanks, we appreciate it.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
