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American Morning

Minding Your Business: Dateline: Bangalore

Aired February 09, 2004 - 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.


JACK CAFFERTY, CNN ANCHOR: Outsourcing, the markets, and perhaps just a little bragging. Andy Serwer is here "Minding Your Business."
ANDY SERWER, "FORTUNE" MAGAZINE: A little bragging rights.

SOLEDAD O'BRIEN, CNN ANCHOR: Really?

SERWER: Yes, we're going to talk about that.

Let's talk a little bit about the market first, where we are so far this year. Things are looking pretty good actually. The Dow up 1 percent. It's a little over a month. That's what you would expect. See, that's good, because that's sustainable. The Nasdaq up 3 percent. Especially after last year, I would not look for that to continue, 3 percent every month or six weeks, right?

CAFFERTY: If the Dow went up 1.3 percent a month for a year that would be a 15 percent gain. That would be pretty nice, right?

SERWER: Yes, that would be just fine. Yes, futures are up this morning, especially techs. Vodafone -- I'm sick of this. Vodafone is considering making a bid for AT&T Wireless. Now, you've been talking about this for two weeks. Either make a bid or don't, OK? We're tired of this thing. Every day I see that headline in the paper.

Let's talk a little bit about outsourcing, shall we?

CAFFERTY: Yes, we're going to send journalists to where?

SERWER: Yes, well, they're actually going to be outsourcing our work in India. We have seen this before. Now, it's hitting home. See, now we actually care about this story.

CAFFERTY: I'm not going.

SERWER: Reuters is going to be outsourcing about six jobs to journalists in Bangalore. They are going to be -- now, here's the best part. They're going to be covering American companies, 3,000 small to midsize American companies. So, you call the CEO up. I want to do the interview after lunch. What's that about, 3:00 in the morning your time?

CAFFERTY: There you go.

SERWER: No, actually they're not going to be doing interviews. They're going to be doing the background work on this. Interesting story also the economic times in India is saying that Disney, Bertelsmann and Time Warner are considering outsourcing. So, maybe the entire AMERICAN MORNING show outsourced.

CAFFERTY: Put me down. I ain't going.

SERWER: You ain't going. Well, they have someone to replace you out there.

O'BRIEN: Cafferty refusing to leave, interesting.

CAFFERTY: I'm here to tell you, I ain't going.

SERWER: No, all right.

And can I brag a little bit, too?

O'BRIEN: Yes.

CAFFERTY: All right, absolutely.

SERWER: Because you said I could. OK, I picked the Pro Bowl, Bill Hemmer.

BILL HEMMER, CNN ANCHOR: Yes, you did.

SERWER: I said the NFC was going to win.

HEMMER: Well done.

O'BRIEN: (UNINTELLIGIBLE).

SERWER: And thank you. Thank you very much. Of course, it was a preposterous game. I mean, you know, it was crazy.

CAFFERTY: Yes, 55 to 52 or something.

SERWER: Yes, crazy. But it was a lot of fun, and...

HEMMER: Well, did you see what happened in that game? The AFC was taunting the NFC in the fourth quarter.

SERWER: Yes, see, taunting gets you nowhere.

O'BRIEN: Yes, that's what I said.

HEMMER: Hey...

CAFFERTY: A good pass defense in that one.

SERWER: All right, I was 32-20 for the year.

O'BRIEN: Pretty good.

SERWER: OK. And now, I'm looking for something else. I'm thinking about, we're going to do the dog show. We're going to be calling the dog show tomorrow. Of course, Westminster begins today here in New York, and there is a little bit tomorrow. We're going to -- tomorrow night is best in show. So, we'll be calling that, Jack, for you, OK?

CAFFERTY: OK, I'll look forward to it.

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 February 9, 2004 - 08:53   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JACK CAFFERTY, CNN ANCHOR: Outsourcing, the markets, and perhaps just a little bragging. Andy Serwer is here "Minding Your Business."
ANDY SERWER, "FORTUNE" MAGAZINE: A little bragging rights.

SOLEDAD O'BRIEN, CNN ANCHOR: Really?

SERWER: Yes, we're going to talk about that.

Let's talk a little bit about the market first, where we are so far this year. Things are looking pretty good actually. The Dow up 1 percent. It's a little over a month. That's what you would expect. See, that's good, because that's sustainable. The Nasdaq up 3 percent. Especially after last year, I would not look for that to continue, 3 percent every month or six weeks, right?

CAFFERTY: If the Dow went up 1.3 percent a month for a year that would be a 15 percent gain. That would be pretty nice, right?

SERWER: Yes, that would be just fine. Yes, futures are up this morning, especially techs. Vodafone -- I'm sick of this. Vodafone is considering making a bid for AT&T Wireless. Now, you've been talking about this for two weeks. Either make a bid or don't, OK? We're tired of this thing. Every day I see that headline in the paper.

Let's talk a little bit about outsourcing, shall we?

CAFFERTY: Yes, we're going to send journalists to where?

SERWER: Yes, well, they're actually going to be outsourcing our work in India. We have seen this before. Now, it's hitting home. See, now we actually care about this story.

CAFFERTY: I'm not going.

SERWER: Reuters is going to be outsourcing about six jobs to journalists in Bangalore. They are going to be -- now, here's the best part. They're going to be covering American companies, 3,000 small to midsize American companies. So, you call the CEO up. I want to do the interview after lunch. What's that about, 3:00 in the morning your time?

CAFFERTY: There you go.

SERWER: No, actually they're not going to be doing interviews. They're going to be doing the background work on this. Interesting story also the economic times in India is saying that Disney, Bertelsmann and Time Warner are considering outsourcing. So, maybe the entire AMERICAN MORNING show outsourced.

CAFFERTY: Put me down. I ain't going.

SERWER: You ain't going. Well, they have someone to replace you out there.

O'BRIEN: Cafferty refusing to leave, interesting.

CAFFERTY: I'm here to tell you, I ain't going.

SERWER: No, all right.

And can I brag a little bit, too?

O'BRIEN: Yes.

CAFFERTY: All right, absolutely.

SERWER: Because you said I could. OK, I picked the Pro Bowl, Bill Hemmer.

BILL HEMMER, CNN ANCHOR: Yes, you did.

SERWER: I said the NFC was going to win.

HEMMER: Well done.

O'BRIEN: (UNINTELLIGIBLE).

SERWER: And thank you. Thank you very much. Of course, it was a preposterous game. I mean, you know, it was crazy.

CAFFERTY: Yes, 55 to 52 or something.

SERWER: Yes, crazy. But it was a lot of fun, and...

HEMMER: Well, did you see what happened in that game? The AFC was taunting the NFC in the fourth quarter.

SERWER: Yes, see, taunting gets you nowhere.

O'BRIEN: Yes, that's what I said.

HEMMER: Hey...

CAFFERTY: A good pass defense in that one.

SERWER: All right, I was 32-20 for the year.

O'BRIEN: Pretty good.

SERWER: OK. And now, I'm looking for something else. I'm thinking about, we're going to do the dog show. We're going to be calling the dog show tomorrow. Of course, Westminster begins today here in New York, and there is a little bit tomorrow. We're going to -- tomorrow night is best in show. So, we'll be calling that, Jack, for you, OK?

CAFFERTY: OK, I'll look forward to it.

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.