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American Morning

Minding Your Business: What's in a Name Change?

Aired September 17, 2003 - 07:50   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: In business news this morning, the name of the game, this network's parent company is changing its name.
Andy Serwer has got the inside story for us. He's "Minding Your Business."

Good morning.

ANDY SERWER, "FORTUNE" MAGAZINE: Good morning, Soledad.

O'BRIEN: Is this confirmed now? It's happening?

SERWER: "The Washington Post" is reporting. We're going to find out very soon. No word from the company officially yet, but the guy who writes this in "The Washington Post," David Vice (ph), usually has his act together. So, we're assuming it's true.

It's really interesting. I mean, where do you begin with the ironies here? AOL -- now, this is some footage from January of '01, when they changed the name from Time Warner to AOL Time Warner. So, I'm wondering if these guys are available, because they're going to need to change the sign back. They're going to need to change the sign back. You know, of course, where do you begin?

AOL buys Time Warner, right?

BILL HEMMER, CNN ANCHOR: Right.

SERWER: But then, Time Warner ends up with the name.

Interesting also, Mr. Miller, who runs AOL, a couple weeks ago was reported saying he wants the AOL name removed because the corporate entity was sullying up the name, the reputation of AOL. Excuse me. All of the problems were at the AOL division.

So, you know, it's just so interesting to me watching this happen. The ticker is going to get changed back to TWX from AOL.

HEMMER: Is that right?

SERWER: That's what they're reporting. And, you know, how the world has changed so much.

And, of course, Time Warner has a history of this, because if you go back, you know, Warner took over Time. The Time name ends up on top. Here, AOL takes over Time Warner, and it looks like the Time Warner name is going to end up on top. O'BRIEN: I wonder what it costs to make that change.

SERWER: Yes, well, we've got some people...

O'BRIEN: I've worked for companies in the past...

SERWER: Who is going to make out? Those sign guys are going to make out.

O'BRIEN: Right.

HEMMER: Yes.

SERWER: The stationers are going to make out. The lawyers, of course, are going to.

O'BRIEN: Oh, yes.

SERWER: And how about the phone operator trainers? No, no, you've reached Time Warner, not AOL Time Warner. You know, there is going to be some consultants here. I mean, seriously, they're going to spend millions of dollars on it.

O'BRIEN: Actually, I worked for a company once where we changed the square to a diamond on the business cards. Millions of dollars.

SERWER: Millions of dollars.

O'BRIEN: I could have done that for 50 bucks.

SERWER: Well, some people have suggested that calling this company AOL Time Warner was like calling Jeffrey Immelt's company MSNBC-GE. But maybe that's a little harsh.

HEMMER: So, what they're really trying to do here is change the image of the company again (UNINTELLIGIBLE).

SERWER: Well, they're changing -- I mean, yes, Time Warner is the bigger part of the company, and AOL has had its problems. So, you know...

HEMMER: But the other thing is you've got this massive building opening up here in Manhattan in about six to eight months from now, too.

SERWER: That's an interesting question.

O'BRIEN: What's it going to be called?

SERWER: It wasn't addressed in this story, you know, the big AOL building, which is that giant skyscraper at Columbus Circle was being called that, and you wonder what the name of that building is going to be. A very good point, though.

O'BRIEN: The Time Warner Building.

SERWER: The Time Warner Building. I would think you might be right.

O'BRIEN: Near Central Park.

SERWER: Yes.

HEMMER: Or Andy Serwer Circle.

SERWER: Yes.

(CROSSTALK)

O'BRIEN: You wish.

SERWER: No.

O'BRIEN: We should mention that you're going to be around -- sticking around this morning taking business questions, I guess on all fronts from the stock market...

SERWER: Yes.

O'BRIEN: ... to corporate scandals to the job market, personal questions.

SERWER: I'll have (UNINTELLIGIBLE), maybe we can do that.

O'BRIEN: No, you're not. You're not.

(CROSSTALK)

SERWER: Isabel -- "Ask Andy," I like that. That's pretty good. We can talk about Isabel. We can talk about anything, but, yes, let's talk about the economy a little bit, jobs, the market and things like that.

HEMMER: How do you...

SERWER: (UNINTELLIGIBLE) -- I'm sorry, go ahead.

HEMMER: Yes, how do you feel about pinch-hitting for Cafferty?

SERWER: Well, this is big shoes, and they're shoes that I don't want to get near for various reasons. And, Jack, I hope you're listening.

HEMMER: Good answer. Thanks, Andy.

SERWER: OK.

O'BRIEN: All right, am@cnn.com. Thanks, Andy.

SERWER: Yes.

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 September 17, 2003 - 07:50   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: In business news this morning, the name of the game, this network's parent company is changing its name.
Andy Serwer has got the inside story for us. He's "Minding Your Business."

Good morning.

ANDY SERWER, "FORTUNE" MAGAZINE: Good morning, Soledad.

O'BRIEN: Is this confirmed now? It's happening?

SERWER: "The Washington Post" is reporting. We're going to find out very soon. No word from the company officially yet, but the guy who writes this in "The Washington Post," David Vice (ph), usually has his act together. So, we're assuming it's true.

It's really interesting. I mean, where do you begin with the ironies here? AOL -- now, this is some footage from January of '01, when they changed the name from Time Warner to AOL Time Warner. So, I'm wondering if these guys are available, because they're going to need to change the sign back. They're going to need to change the sign back. You know, of course, where do you begin?

AOL buys Time Warner, right?

BILL HEMMER, CNN ANCHOR: Right.

SERWER: But then, Time Warner ends up with the name.

Interesting also, Mr. Miller, who runs AOL, a couple weeks ago was reported saying he wants the AOL name removed because the corporate entity was sullying up the name, the reputation of AOL. Excuse me. All of the problems were at the AOL division.

So, you know, it's just so interesting to me watching this happen. The ticker is going to get changed back to TWX from AOL.

HEMMER: Is that right?

SERWER: That's what they're reporting. And, you know, how the world has changed so much.

And, of course, Time Warner has a history of this, because if you go back, you know, Warner took over Time. The Time name ends up on top. Here, AOL takes over Time Warner, and it looks like the Time Warner name is going to end up on top. O'BRIEN: I wonder what it costs to make that change.

SERWER: Yes, well, we've got some people...

O'BRIEN: I've worked for companies in the past...

SERWER: Who is going to make out? Those sign guys are going to make out.

O'BRIEN: Right.

HEMMER: Yes.

SERWER: The stationers are going to make out. The lawyers, of course, are going to.

O'BRIEN: Oh, yes.

SERWER: And how about the phone operator trainers? No, no, you've reached Time Warner, not AOL Time Warner. You know, there is going to be some consultants here. I mean, seriously, they're going to spend millions of dollars on it.

O'BRIEN: Actually, I worked for a company once where we changed the square to a diamond on the business cards. Millions of dollars.

SERWER: Millions of dollars.

O'BRIEN: I could have done that for 50 bucks.

SERWER: Well, some people have suggested that calling this company AOL Time Warner was like calling Jeffrey Immelt's company MSNBC-GE. But maybe that's a little harsh.

HEMMER: So, what they're really trying to do here is change the image of the company again (UNINTELLIGIBLE).

SERWER: Well, they're changing -- I mean, yes, Time Warner is the bigger part of the company, and AOL has had its problems. So, you know...

HEMMER: But the other thing is you've got this massive building opening up here in Manhattan in about six to eight months from now, too.

SERWER: That's an interesting question.

O'BRIEN: What's it going to be called?

SERWER: It wasn't addressed in this story, you know, the big AOL building, which is that giant skyscraper at Columbus Circle was being called that, and you wonder what the name of that building is going to be. A very good point, though.

O'BRIEN: The Time Warner Building.

SERWER: The Time Warner Building. I would think you might be right.

O'BRIEN: Near Central Park.

SERWER: Yes.

HEMMER: Or Andy Serwer Circle.

SERWER: Yes.

(CROSSTALK)

O'BRIEN: You wish.

SERWER: No.

O'BRIEN: We should mention that you're going to be around -- sticking around this morning taking business questions, I guess on all fronts from the stock market...

SERWER: Yes.

O'BRIEN: ... to corporate scandals to the job market, personal questions.

SERWER: I'll have (UNINTELLIGIBLE), maybe we can do that.

O'BRIEN: No, you're not. You're not.

(CROSSTALK)

SERWER: Isabel -- "Ask Andy," I like that. That's pretty good. We can talk about Isabel. We can talk about anything, but, yes, let's talk about the economy a little bit, jobs, the market and things like that.

HEMMER: How do you...

SERWER: (UNINTELLIGIBLE) -- I'm sorry, go ahead.

HEMMER: Yes, how do you feel about pinch-hitting for Cafferty?

SERWER: Well, this is big shoes, and they're shoes that I don't want to get near for various reasons. And, Jack, I hope you're listening.

HEMMER: Good answer. Thanks, Andy.

SERWER: OK.

O'BRIEN: All right, am@cnn.com. Thanks, Andy.

SERWER: Yes.

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