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CNN Live At Daybreak

Fireworks Fizzle

Aired July 03, 2003 - 06:46   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: Time for a little business buzz right now. Fewer bucks will make for less bang at some of the local fireworks displays this July 4.
Carrie Lee is at the Nasdaq market site with more on that.

Morning -- Carrie.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

This is kind of a sad story, actually. The economic slowdown has really hit a lot of state and local governments in the wallet, so as a result, many cities are scaling back on their fireworks display this year or even canceling them all together. Companies that specialize in big pyrotechnic displays say there has been a slight decline or steady levels of business this year. A traditional display can cost as much as $2,500 a minute, and that doesn't include things like overtime pay for police and security personnel, so this year a lot of city officials say it's simply not appropriate to pay for fireworks if it means cutting services later.

Carol, desperate times call for rather desperate measures.

COSTELLO: Certainly understand that.

Carrie Lee live from the Nasdaq market site this morning.

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 July 3, 2003 - 06:46   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Fewer bucks will make for less bang at some of the local fireworks displays this July 4.
Carrie Lee is at the Nasdaq market site with more on that.

Morning -- Carrie.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

This is kind of a sad story, actually. The economic slowdown has really hit a lot of state and local governments in the wallet, so as a result, many cities are scaling back on their fireworks display this year or even canceling them all together. Companies that specialize in big pyrotechnic displays say there has been a slight decline or steady levels of business this year. A traditional display can cost as much as $2,500 a minute, and that doesn't include things like overtime pay for police and security personnel, so this year a lot of city officials say it's simply not appropriate to pay for fireworks if it means cutting services later.

Carol, desperate times call for rather desperate measures.

COSTELLO: Certainly understand that.

Carrie Lee live from the Nasdaq market site this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com