Return to Transcripts main page

American Morning

'Minding Your Business'

Aired November 28, 2003 - 08:53   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.


HEIDI COLLINS, CNN ANCHOR: Well, not everyone, though, is predicting robust spending this holiday season. Susan Lisovicz is here today with that. She's in for Andy Serwer...
SUSAN LISOVICZ, CNN CORRESPONDENT: Hey.

COLLINS: ... minding his business. This is a little confusing, though. I mean...

LISOVICZ: Some surveys saying it's going to be great. Others saying, not so great. Yes. It's confusing and contradictory.

You know, you'd kind of think it would be a slam-dunk with all of this great information we've got this week. Kris Osborn sort of referred to it, the improving consumer confidence, stock market gains, the economy growing at the fastest rate in nearly two decades.

But guess what? The National Retail Federation is predicting gains for this holiday season, but not the conference board. There you see its prediction for 2003, per household $455 on gifts. That's a decrease of nearly six percent.

And you know, when you consider what's going on, Wal-Mart, right, the 800-pound gorilla in retail, says that what people are buying are the lowest priced items. And this is at a discounter. So caution still very much in the air.

BILL HEMMER, CNN ANCHOR: Hey, when we grow up, let's go work for Air Canada, huh?

COLLINS: What a deal there.

HEMMER: Maybe not.

LISOVICZ: Bah humbug. You know, that's the other thing. You know, you think the improving economy will translate into those lavish bonuses: gifts, trips, money. Well, the folks at Air Canada -- and not even all of them -- got a coupon worth $3.87.

It is for a hamburger chain. And it expires in five weeks. And only 100 of the workers got it. But it should be said that Air Canada has been in dire straits. It filed for Chapter 11. And so any bonus at all, I guess, was considered a good thing.

HEMMER: It doesn't include the mayo, does it?

LISOVICZ: I think the relish, the mustard, all extra. HEMMER: Nice to see you. What do you call a guy between two redheads, by the way?

LISOVICZ: Lucky.

COLLINS: Nice, Susan.






Aired November 28, 2003 - 08:53   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: Well, not everyone, though, is predicting robust spending this holiday season. Susan Lisovicz is here today with that. She's in for Andy Serwer...
SUSAN LISOVICZ, CNN CORRESPONDENT: Hey.

COLLINS: ... minding his business. This is a little confusing, though. I mean...

LISOVICZ: Some surveys saying it's going to be great. Others saying, not so great. Yes. It's confusing and contradictory.

You know, you'd kind of think it would be a slam-dunk with all of this great information we've got this week. Kris Osborn sort of referred to it, the improving consumer confidence, stock market gains, the economy growing at the fastest rate in nearly two decades.

But guess what? The National Retail Federation is predicting gains for this holiday season, but not the conference board. There you see its prediction for 2003, per household $455 on gifts. That's a decrease of nearly six percent.

And you know, when you consider what's going on, Wal-Mart, right, the 800-pound gorilla in retail, says that what people are buying are the lowest priced items. And this is at a discounter. So caution still very much in the air.

BILL HEMMER, CNN ANCHOR: Hey, when we grow up, let's go work for Air Canada, huh?

COLLINS: What a deal there.

HEMMER: Maybe not.

LISOVICZ: Bah humbug. You know, that's the other thing. You know, you think the improving economy will translate into those lavish bonuses: gifts, trips, money. Well, the folks at Air Canada -- and not even all of them -- got a coupon worth $3.87.

It is for a hamburger chain. And it expires in five weeks. And only 100 of the workers got it. But it should be said that Air Canada has been in dire straits. It filed for Chapter 11. And so any bonus at all, I guess, was considered a good thing.

HEMMER: It doesn't include the mayo, does it?

LISOVICZ: I think the relish, the mustard, all extra. HEMMER: Nice to see you. What do you call a guy between two redheads, by the way?

LISOVICZ: Lucky.

COLLINS: Nice, Susan.