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American Morning
Minding Your Business: Clean-Up, in Every Aisle
Aired October 13, 2003 - 07:45 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.
SOLEDAD O'BRIEN, CNN ANCHOR: Some 70,000 grocery store workers on strike in California. Will it be the first test for Governor-elect Schwarzenegger?
Andy Serwer is "Minding Your Business" this morning. Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.
Yes, not a great morning for people shopping for groceries in California, 850 stores impacted here. Right now, they are open. Look at those picket lines.
An interesting story here. It started at Vons -- V-O-N-S, which is a big chain out there -- then spread to Ralphs and Albertsons. Now it involves Safeway and Kroger -- all of the chains. It's over health care costs. You know, this is something that's really been a key issue for workers and companies.
And the bigger picture story here really, of course, Soledad, is Wal-Mart coming into these markets, a non-union shop, selling groceries. These stores are looking to cut costs by getting workers' comp down. And it's something we're going to be seeing continuing in this country, I think.
O'BRIEN: When I worked in northern California, they had several supermarket strikes, and those can go on for a long time and get very ugly.
SERWER: Yes, yes. That's right.
O'BRIEN: Let's talk about supermarkets and orange juice.
SERWER: O.J., yes, this is a real good one for people, though. It looks like the price of orange juice probably will be falling soon. Why? A bumper crop of oranges in Florida is expected. Here are the numbers: 252 million boxes anticipated. That's up 24 percent from last year. A record, record crop.
And at the same time, demand for O.J. is going down. Why? The Atkins Diet. I mean, it's really true. Less people are drinking orange juice because there's a lot of carbs in orange juice, so demand was slightly down.
O'BRIEN: There are?
SERWER: Yes, there is. Last year, down slightly. So, between this huge supply and lower demand, you're probably going to see prices falling, falling, falling for orange juice.
O'BRIEN: Well, that's your prediction. The next time we talk, we'll talk about the market.
SERWER: Good.
O'BRIEN: All right, Andy, thank you very much.
SERWER: OK.
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 October 13, 2003 - 07:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Some 70,000 grocery store workers on strike in California. Will it be the first test for Governor-elect Schwarzenegger?
Andy Serwer is "Minding Your Business" this morning. Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.
Yes, not a great morning for people shopping for groceries in California, 850 stores impacted here. Right now, they are open. Look at those picket lines.
An interesting story here. It started at Vons -- V-O-N-S, which is a big chain out there -- then spread to Ralphs and Albertsons. Now it involves Safeway and Kroger -- all of the chains. It's over health care costs. You know, this is something that's really been a key issue for workers and companies.
And the bigger picture story here really, of course, Soledad, is Wal-Mart coming into these markets, a non-union shop, selling groceries. These stores are looking to cut costs by getting workers' comp down. And it's something we're going to be seeing continuing in this country, I think.
O'BRIEN: When I worked in northern California, they had several supermarket strikes, and those can go on for a long time and get very ugly.
SERWER: Yes, yes. That's right.
O'BRIEN: Let's talk about supermarkets and orange juice.
SERWER: O.J., yes, this is a real good one for people, though. It looks like the price of orange juice probably will be falling soon. Why? A bumper crop of oranges in Florida is expected. Here are the numbers: 252 million boxes anticipated. That's up 24 percent from last year. A record, record crop.
And at the same time, demand for O.J. is going down. Why? The Atkins Diet. I mean, it's really true. Less people are drinking orange juice because there's a lot of carbs in orange juice, so demand was slightly down.
O'BRIEN: There are?
SERWER: Yes, there is. Last year, down slightly. So, between this huge supply and lower demand, you're probably going to see prices falling, falling, falling for orange juice.
O'BRIEN: Well, that's your prediction. The next time we talk, we'll talk about the market.
SERWER: Good.
O'BRIEN: All right, Andy, thank you very much.
SERWER: OK.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
