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American Morning
With Sniper Spree Over, It Could be Big Weekend in Washington Malls
Aired October 25, 2002 - 09:49 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.
PAULA ZAHN, CNN ANCHOR: With the sniper spree over, according to law enforcement, it could be a big weekend in Washington malls. I bet it will be, Andy.
ANDY SERWER, "FORTUNE" MAGAZINE: The phrase economists use here, Paula, is pent-up demand. People are going to go nuts. They're going to go shopping. They've got to get all their Halloween stuff up. chrysanthemums.
ZAHN: Oh, I can't say that. Nice way you pronounce that.
SERWER: Pumpkins, because they haven't been able to go and buy things like pumpkins, because those are all outside displays. Starbucks had put its tables away. They're going to put the tables back out. For people who have businesses, they are hiring extra people. It's just going to one big shopping fest, and people will go out and play sports and do all of that great stuff, too.
ZAHN: It's about time.
SERWER: A huge sigh of relief and the economy will feel good, too.
ZAHN: Good. We like that. How is the market doing right now?
SERWER: Well, the market is mixed right now. We had a down day yesterday, Paula. The big thing here is, can we end up today to have the market go up three weeks in a row? We are about flat at the beginning of the week. There is the chart. We bounced off that low very nicely. And to have a three week in a row rise like that would be unusual. I think you would have to go back to at least August or July to find something like that going on.
ZAHN: You have a little anniversary you want to celebrate this morning, or the birthday?
SERWER: Yes, a birthday. The 40th anniversary of Motel 6. I didn't know where the name came from. Did you know that? It was because it was $6 a night. That is Motel 6.
ZAHN: What is it here, motel $21.95?
SERWER: Very good, Paula. The average price of a Motel #6 nowadays is about $35, but inflation adjusted, that is the same as $6. The chain started out in Santa Barbara, California, 40 years, 800 locations. Tom Bodett (ph) is the guy who does those great commercials and will leave the light on for you.
That's what he looks like.
ZAHN: He looks like the Brawny man. He should be advertising lots of things.
SERWER: Yes, look at that. He has a radio show. He's got a bunch of books, kind of a really interesting character, and he did that, let's leave the light on, or we'll leave the light on for you, I should say, as just sort of an afterthought, and it's become the signature of that company's ad campaign.
ZAHN: Are you and I really old enough to remember $6 a night hotel rooms?
SERWER: I'm not.
ZAHN: Neither am I.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Washington Malls>
Aired October 25, 2002 - 09:49 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: With the sniper spree over, according to law enforcement, it could be a big weekend in Washington malls. I bet it will be, Andy.
ANDY SERWER, "FORTUNE" MAGAZINE: The phrase economists use here, Paula, is pent-up demand. People are going to go nuts. They're going to go shopping. They've got to get all their Halloween stuff up. chrysanthemums.
ZAHN: Oh, I can't say that. Nice way you pronounce that.
SERWER: Pumpkins, because they haven't been able to go and buy things like pumpkins, because those are all outside displays. Starbucks had put its tables away. They're going to put the tables back out. For people who have businesses, they are hiring extra people. It's just going to one big shopping fest, and people will go out and play sports and do all of that great stuff, too.
ZAHN: It's about time.
SERWER: A huge sigh of relief and the economy will feel good, too.
ZAHN: Good. We like that. How is the market doing right now?
SERWER: Well, the market is mixed right now. We had a down day yesterday, Paula. The big thing here is, can we end up today to have the market go up three weeks in a row? We are about flat at the beginning of the week. There is the chart. We bounced off that low very nicely. And to have a three week in a row rise like that would be unusual. I think you would have to go back to at least August or July to find something like that going on.
ZAHN: You have a little anniversary you want to celebrate this morning, or the birthday?
SERWER: Yes, a birthday. The 40th anniversary of Motel 6. I didn't know where the name came from. Did you know that? It was because it was $6 a night. That is Motel 6.
ZAHN: What is it here, motel $21.95?
SERWER: Very good, Paula. The average price of a Motel #6 nowadays is about $35, but inflation adjusted, that is the same as $6. The chain started out in Santa Barbara, California, 40 years, 800 locations. Tom Bodett (ph) is the guy who does those great commercials and will leave the light on for you.
That's what he looks like.
ZAHN: He looks like the Brawny man. He should be advertising lots of things.
SERWER: Yes, look at that. He has a radio show. He's got a bunch of books, kind of a really interesting character, and he did that, let's leave the light on, or we'll leave the light on for you, I should say, as just sort of an afterthought, and it's become the signature of that company's ad campaign.
ZAHN: Are you and I really old enough to remember $6 a night hotel rooms?
SERWER: I'm not.
ZAHN: Neither am I.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Washington Malls>
