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American Morning
Minding Your Business: Finally, Good News for Job Front
Aired July 25, 2003 - 07:46 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.
SOLEDAD O'BRIEN, CNN ANCHOR: Turning now to business news, at least one big company is adding jobs. Andy Serwer is "Minding Your Business" this morning.
Hey, good morning. Nice to see you.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning, Soledad.
O'BRIEN: The big company being Microsoft.
SERWER: That's right. Microsoft saying they are going to be adding up to 5,000 jobs, Soledad, coming up over the next year so or. Bill Gates says it's a serious number, and that's absolutely correct.
You know, we are talking a lot about this possible economic recovery we're having here, but you can't tell that by the job front so far, although maybe we're starting to see some signs. Yesterday, the jobless report was pretty good. You got this sign from Microsoft. So, you know, we really hope we get the recovery with the recovery in the job market. So far, that's been elusive.
I wanted to just put up also, showing the largest private employers in the United States. It's kind of an interesting screen. You can see just how big Wal-Mart is. I mean, I just find that so staggering, 1.3 million people work for Wal-Mart. By the way, 55,000 people work for Microsoft. And so, that's the top five there, some very familiar names.
O'BRIEN: Any indications that any of those top five, which would really make a difference, will add a significant percentage of new employees?
SERWER: Well, you know, most people, of course, work for small businesses. Wal-Mart is sure to be adding jobs over the next decade, and I would say that GM and Ford probably won't be. UPS probably will be, McDonald's probably won't be. So, it's, you know, really company by company there.
O'BRIEN: Let's talk about the market, down a little bit yesterday.
SERWER: Yes, some rumors about things going on in the world politic, if you will, some technical factors are going to sell off there, about 81 points on the Dow, down across the board in the other indices. But this morning, futures are looking up. So, we'll have a little bit of a seesaw this week.
O'BRIEN: All right, Andy, as always, thank you.
SERWER: Thanks, Soledad.
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 25, 2003 - 07:46 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Turning now to business news, at least one big company is adding jobs. Andy Serwer is "Minding Your Business" this morning.
Hey, good morning. Nice to see you.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning, Soledad.
O'BRIEN: The big company being Microsoft.
SERWER: That's right. Microsoft saying they are going to be adding up to 5,000 jobs, Soledad, coming up over the next year so or. Bill Gates says it's a serious number, and that's absolutely correct.
You know, we are talking a lot about this possible economic recovery we're having here, but you can't tell that by the job front so far, although maybe we're starting to see some signs. Yesterday, the jobless report was pretty good. You got this sign from Microsoft. So, you know, we really hope we get the recovery with the recovery in the job market. So far, that's been elusive.
I wanted to just put up also, showing the largest private employers in the United States. It's kind of an interesting screen. You can see just how big Wal-Mart is. I mean, I just find that so staggering, 1.3 million people work for Wal-Mart. By the way, 55,000 people work for Microsoft. And so, that's the top five there, some very familiar names.
O'BRIEN: Any indications that any of those top five, which would really make a difference, will add a significant percentage of new employees?
SERWER: Well, you know, most people, of course, work for small businesses. Wal-Mart is sure to be adding jobs over the next decade, and I would say that GM and Ford probably won't be. UPS probably will be, McDonald's probably won't be. So, it's, you know, really company by company there.
O'BRIEN: Let's talk about the market, down a little bit yesterday.
SERWER: Yes, some rumors about things going on in the world politic, if you will, some technical factors are going to sell off there, about 81 points on the Dow, down across the board in the other indices. But this morning, futures are looking up. So, we'll have a little bit of a seesaw this week.
O'BRIEN: All right, Andy, as always, thank you.
SERWER: Thanks, Soledad.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
