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American Morning
Minding Your Business: Rah, Rah, Sis Boom Blah!
Aired October 22, 2003 - 07:55 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: Yesterday, we talked about just how expensive textbooks are. Today, we're going to find out that, hey, college tuition is expensive, too. Lots of bad news from Andy this morning.
BILL HEMMER, CNN ANCHOR: Buy the books.
O'BRIEN: Good morning, Andy.
ANDY SERWER, "FORTUNE" MAGAZINE: Yes, I'm piling it on, Soledad. Good morning to you.
The biggest increase in 30 years -- that's the headline here, according to the college boards, which tracks this stuff. Tuition on the rise, a lot of this having to do with the state budget problems, 30 percent, the biggest increase in 30 years. We'll get to the percents. And this, while inflation is not moving up at all. Inflation is only around 2 percent.
Here it is for public universities, average around 10,000, up 9.8 percent. Private schools, we'll switch over to that, around 26,000, up 5.7. Why are the public schools worse? Well, because of budget problems. Not a big surprise.
Here's are some costs, quickly: Harvard, 33,000, a little football school up there in Massachusetts; University of Colorado, rated the No. 1 party school in the land, they're about 8,600, that's in-state; and then, of course, Slippery Rock in Pennsylvania, also around 8,000 in-state in Pennsylvania, out of state, 14,000.
O'BRIEN: Wow! That's crazy.
Can you talk about the markets quickly?
SERWER: Yes, let's do that very quickly. Yesterday, we had one of Bill's famous mixed grills...
HEMMER: Yes.
SERWER: ... where the Dow was...
(CROSSTALK)
SERWER: Yes. The Dow was down, brought down by AT&T mostly.
O'BRIEN: I hate that. That sounds terrible.
SERWER: We're not going to do that.
O'BRIEN: Thank you, Andy.
SERWER: All right, never again. The Nasdaq up. Today, we'll be weighing results from Amazon, Time Warner, Lucent and Whirlpool out of Benton Harbor, Michigan. Amazon's numbers came in maybe not nice enough for the pundits, and futures are down this morning because of it.
O'BRIEN: All right, Andy Serwer, thanks as always.
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 22, 2003 - 07:55 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Yesterday, we talked about just how expensive textbooks are. Today, we're going to find out that, hey, college tuition is expensive, too. Lots of bad news from Andy this morning.
BILL HEMMER, CNN ANCHOR: Buy the books.
O'BRIEN: Good morning, Andy.
ANDY SERWER, "FORTUNE" MAGAZINE: Yes, I'm piling it on, Soledad. Good morning to you.
The biggest increase in 30 years -- that's the headline here, according to the college boards, which tracks this stuff. Tuition on the rise, a lot of this having to do with the state budget problems, 30 percent, the biggest increase in 30 years. We'll get to the percents. And this, while inflation is not moving up at all. Inflation is only around 2 percent.
Here it is for public universities, average around 10,000, up 9.8 percent. Private schools, we'll switch over to that, around 26,000, up 5.7. Why are the public schools worse? Well, because of budget problems. Not a big surprise.
Here's are some costs, quickly: Harvard, 33,000, a little football school up there in Massachusetts; University of Colorado, rated the No. 1 party school in the land, they're about 8,600, that's in-state; and then, of course, Slippery Rock in Pennsylvania, also around 8,000 in-state in Pennsylvania, out of state, 14,000.
O'BRIEN: Wow! That's crazy.
Can you talk about the markets quickly?
SERWER: Yes, let's do that very quickly. Yesterday, we had one of Bill's famous mixed grills...
HEMMER: Yes.
SERWER: ... where the Dow was...
(CROSSTALK)
SERWER: Yes. The Dow was down, brought down by AT&T mostly.
O'BRIEN: I hate that. That sounds terrible.
SERWER: We're not going to do that.
O'BRIEN: Thank you, Andy.
SERWER: All right, never again. The Nasdaq up. Today, we'll be weighing results from Amazon, Time Warner, Lucent and Whirlpool out of Benton Harbor, Michigan. Amazon's numbers came in maybe not nice enough for the pundits, and futures are down this morning because of it.
O'BRIEN: All right, Andy Serwer, thanks as always.
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.
