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CNN Live At Daybreak

Government Rollover: Government Adds New Test to Gauge SUV Handling

Aired October 06, 2003 - 06:45   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: Time now for a little "Biz Buzz." The government is getting tougher on testing SUVs for rollover risks.
Carrie Lee has the very latest from the Nasdaq market site in New York.

Hi -- Carrie.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Heidi.

Well after years of using a mathematical formula to predict SUV rollover risks, the government is now going to add a high-speed road test for SUVs designed to give consumers a more comprehensive look at SUV handling capabilities.

Now in one test, the vehicles are driven in a straight line at 60 miles per hour and then turned abruptly. In another, the SUV goes in a straight line at 50 miles an hour, then makes a sharp left and then a sharp right turn. Interesting, because the mathematical test only uses the vehicles width and center of gravity to produce a rating. Now the government's five-star quality rating will reflect both the road test, as well as the mathematical tests. So the idea here to be more comprehensive.

Of course SUVs have been under fire for quite a while for safety issues. Rollovers were a result in 10,000 deaths per year regarding vehicle accidents and regulators tend to focus on SUVs because more than 60 percent of fatalities in SUVs do involve rollovers. So this information will give consumers more information when they are considering what type of vehicle to purchase.

Meanwhile, we're taking a look at stock futures this morning. Looks like we could see a mixed open. Technology issues could open a little bit higher. We could see some selling for stocks across the board after a very nice week for the bulls last week. The Dow Jones industrials adding nearly 3 percent, the Nasdaq up nearly 5 percent. The S&P 500, as you can see, up just over 3 percent.

One stock we're going to be watching today, Steinway Musical Instruments, closing one of its plants in Indiana, laying off 90 to 100 workers, taking a charge of up to $5 million. Like a lot of other companies, they need to increase efficiencies and keep costs down. The musical instruments field is obviously, or apparently, a very competitive one.

By the way, Holly, this -- Heidi, excuse me, this ticker symbol -- the company's ticker symbol is LVB, stands for Ludwig van Beethoven. A little bit of trivia for you this morning.

Back to you.

COLLINS: Well a little Beethoven on the ticker. All right, very good. Carrie Lee, thanks so much.

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




Handling>


Aired October 6, 2003 - 06:45   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: Time now for a little "Biz Buzz." The government is getting tougher on testing SUVs for rollover risks.
Carrie Lee has the very latest from the Nasdaq market site in New York.

Hi -- Carrie.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Heidi.

Well after years of using a mathematical formula to predict SUV rollover risks, the government is now going to add a high-speed road test for SUVs designed to give consumers a more comprehensive look at SUV handling capabilities.

Now in one test, the vehicles are driven in a straight line at 60 miles per hour and then turned abruptly. In another, the SUV goes in a straight line at 50 miles an hour, then makes a sharp left and then a sharp right turn. Interesting, because the mathematical test only uses the vehicles width and center of gravity to produce a rating. Now the government's five-star quality rating will reflect both the road test, as well as the mathematical tests. So the idea here to be more comprehensive.

Of course SUVs have been under fire for quite a while for safety issues. Rollovers were a result in 10,000 deaths per year regarding vehicle accidents and regulators tend to focus on SUVs because more than 60 percent of fatalities in SUVs do involve rollovers. So this information will give consumers more information when they are considering what type of vehicle to purchase.

Meanwhile, we're taking a look at stock futures this morning. Looks like we could see a mixed open. Technology issues could open a little bit higher. We could see some selling for stocks across the board after a very nice week for the bulls last week. The Dow Jones industrials adding nearly 3 percent, the Nasdaq up nearly 5 percent. The S&P 500, as you can see, up just over 3 percent.

One stock we're going to be watching today, Steinway Musical Instruments, closing one of its plants in Indiana, laying off 90 to 100 workers, taking a charge of up to $5 million. Like a lot of other companies, they need to increase efficiencies and keep costs down. The musical instruments field is obviously, or apparently, a very competitive one.

By the way, Holly, this -- Heidi, excuse me, this ticker symbol -- the company's ticker symbol is LVB, stands for Ludwig van Beethoven. A little bit of trivia for you this morning.

Back to you.

COLLINS: Well a little Beethoven on the ticker. All right, very good. Carrie Lee, thanks so much.

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




Handling>