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CNN Live Sunday

Interview With Workplace Consultant Rick Cobb

Aired May 12, 2002 - 17:25   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.
JONATHAN KARL, CNN ANCHOR: What would your boss say if you called in sick with a bad case of sky-walking pneumonia? Analysts say Thursday's opening of "Star Wars Episode II" could cost the U.S. $319 million in lost wages as people call in sick to hit the multiplex.

Joining us from Chicago to talk about the relationship between the economy and the box office is workplace consultant Rick Cobb. Rick, come on -- $319 million? You've got to be kidding?

RICK COBB, WORKFORCE CONSULTANT: No. Use the workforce, Jonathan. If you have the 200 million plus that took off for the "Phantom Menace" show at this time, you will see about $320 million in lost wages in that day.

KARL: And does this really have an impact? We also have -- I mentioned, this is a good economic impact on the movie industry. Is this really going to have much of an impact economy wide?

COBB: It depends on whether your boss goes or not. I think it will be OK. When people are a little uncertain about the economy, they tend to like to go to movies and an escapist movie like this one is right up their alley. So it offsets -- I think it offsets with their attitude when they come back.

KARL: Yeah -- that is an interesting question. So when the economy is down, in one sense I guess people would have less money to go out to the movies, but on the other hand, they could be looking for an escape. What's the record on that? I mean, during the Great Depression, do we know -- was Hollywood in good shape or what was the situation?

COBB: Well, I think -- I can't give you specific numbers, but I recollect -- not that I was there -- but that during the depression that that was a cheap form of entertainment, and a lot of people went to the movies. You also have the sociological dynamic of people wanting to be around others when they feel bad. You know, misery loves company. So people like -- this is one of those places where you are not fighting in traffic, you're not fighting at work. You can actually sit shoulder to shoulder with your fellow man and enjoy something that feels good.

KARL: OK -- so, $319 million lost over the entire economy by people calling in sick. I guess that's not that much when you have 260 million people or whatever. But how much money is going to be put into the economy between ticket sales and all of those $5 small popcorns people are buying at the theater?

COBB: Right. Well, I don't know. I didn't get the -- must have been on same line. I didn't hear review of the movie. If a movie is positive, you're going to get a lot of repeat business. One of the things that's been great about the "Star Wars" movies is people have gone to see it three or four times if they liked it. The initial day is not going to offset the loss of dollars in terms of the number of people out of the market, because even if you spend 10 bucks for a ticket and another $15 for concessions you're not going to outstrip 320 million.

KARL: All right -- well, I will not be calling in sick to attend "Star Wars" -- I want to make sure we're on record there. And, besides, even if I did, it's only a two-hour movie, right? We could actually come back to work. Anyway, thanks a lot for joining us.

COBB: If I get to go, I call it work.

KARL: OK -- good point.

COBB: All right, Jonathan.

KARL: Take care.

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