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CNN LIVE AT DAYBREAK

FDA in Talks for National Nutrition Displays

Aired October 23, 2003 - 06:17   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' right now, though. Would nutrition labels posted in restaurants help you make healthier choices? The FDA thinks it might.
Carrie Lee is live at the Nasdaq market site.

I would love that.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: You would?

COSTELLO: Yes.

LEE: I think a lot of people wouldn't. You go out to dinner, this is your time to sort of have a free for all when it comes to food, but certainly the Food and Drug Administration has this on their radar screen. They are set to meet with industry officials today to discuss this possibility publicly.

Now keep in mind the FDA wouldn't have the authority to make restaurants post nutritional information, but the idea here is to get people on the right track, to try to curb our nation's obesity problem.

Here's an interesting statistic. While restaurant eating represents 22 percent of all meals in the U.S., it accounts for 38 percent of the food eaten by people. So clearly when people are going out to dinner, they are maybe a little bit less concerned about what they are eating than when they make meals at home.

A couple of takeout restaurants, McDonald's, Wendy's, Burger King, are already voluntarily offering information. This restaurant idea has so far met with a pretty neutral stance, that according to the National Restaurant Association. Still, Carol, they are willing to talk about it. We'll see what happens. This may be you go to a high-end restaurant and see all those calories packed into some of that delicious food.

COSTELLO: Yes, see how much butter they pack in those recipes.

Quick look at the futures.

LEE: Yes, things look very weak this morning. Of course we saw a lot of selling yesterday. The Dow, the Nasdaq, the S&P 500 all solidly in negative territory. That's an over 2 percent loss on the Nasdaq yesterday, by the way.

A lot of the profit reports out this morning continuing. However, Goodyear Tire & Rubber is one stock that is not going to be reporting. Their shares fell about 28 percent in the after-hours session. They have to delay their report until next month because of some accounting errors. They have to restate profits taking back $100 million worth of profits over the last five years, Carol, not a good story, not a good day likely for Goodyear Tire & Rubber.

COSTELLO: All right. Carrie Lee reporting live from the Nasdaq market site.

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