[Blitzer:] Welcome back to THE SITUATION ROOM. Another major U.S. carmaker announcing some belt-tightening measures. Let's pick pick up the story with CNN's Ali Velshi. He's in New York with the "Bottom Line" Ali.
[Ali Velshi, Cnn Anchor:] Hey, Wolf. Well, the world's biggest automaker and it still is lost $8.6 billion in 2003. Now, that's the company's biggest loss in 13 years. So, for the first time in 13 years, GM today announced it is cutting its dividend from $1 per year for share to 50 cents. Now, many people invest in stocks like GM for the income. The dividend yield is the dollar, and that now 50 cents divided by the price of a the share. High dividends makes stocks attractive to conservative investors. Now, when you cut a dividend, you know the company is in trouble. Cutting the dividend is a sure sign. It's the last thing a company's board wants to do. But this cut was made under pressure from billionaire investor Kirk Kerkorian, who now controls almost 10 percent of GM. He's trying to force the company to turn around. Now, GM also announced white-collar salary and benefits cuts to try in stay in line with those cuts that were made late last year. The boss is taking a 50 percent cut. And three top executives are taking 30 percent salary cuts. We will stay on the story of GM Wolf...
[Blitzer:] Thanks very much, Ali.
[Velshi:] ... back to you.
[Blitzer:] Let's stay in New York. Jack Cafferty is standing by with "The Cafferty File" Jack.
[Cafferty:] "USA Today" reporting, an increasing number of states and businesses are cracking down on cell phone use. There are restrictions now in all sorts of places, just not just restaurants, but gyms, golf courses, church, banks, post office. So, we asked, where do you think cell phones ought to be allowed? Wade writes: "I remember the first time I saw someone wearing on of those little cell phone receivers stuck in his ear. When he walked into my office, I thought he was talking to himself. What a championship nutcase. The preponderance of folks using cell phones suffer from a severe case of narcissism." John in Philadelphia: "Use them outside restaurant, in the lobbies, same with the theaters, et cetera. Let me have my peace. I remember a time when we all got by quite well without them." Mamie in Reno, Nevada, my hometown: "Cell phones should be in your pocket, power off, as you trek through the desert alone, just in case you get a snake bite and need to call for help." Kirk in Kingsville, Texas: "Cell phones should not be allowed anywhere. Today is the 7th. My daughter is out of minutes, 1,000 free minutes. She's in college, 600 miles away. She doesn't use those minutes to talk to us. My cell phone is an appendage. I'm afraid something really is happening when I don't have it. When we travel, my wife and I will drive back seven hours to retrieve a charger. This is stupid. We are stupid. Please, outlaw cell phones." And Jim in Mocksville, North Carolina: "Cell phones should be allowed everywhere. In fact, I would like to see the Wolfman answer his cell phone during broadcast with a, 'What up, Dog?'" "A backwards baseball hat once in a while wouldn't kill him either."
[Blitzer:] We are going to do that for Jim one of these days, but not any any time soon. I know you love your cell phone, Jack.
[Cafferty:] I don't have one.
[Blitzer:] You got the Bluetooth, so you got the wireless, the whole connection, right?
[Cafferty:] I don't have a cell phone.
[Blitzer:] Come on.
[Cafferty:] I don't have any of that stuff.
[Blitzer:] This day and age?
[Cafferty:] I don't have... I don't have any of those things, and I have lived 63 years quite nicely thank you very much.
[Blitzer:] See you at 7:00...
[Cafferty:] You got it.
[Blitzer:] ... in one hour. Jack, thanks very much. We are here in THE SITUATION ROOM weekdays afternoons, 4:00 to 6:00 p.m. Eastern, back at 7:00 p.m. Eastern. Coming up later today, my special interview with the editor of that Danish newspaper that published the cartoon of the Prophet Mohammed. It sparked massive protests around the world. I'm Wolf Blitzer in Washington. Kitty Pilgrim, filling in for Lou, she is picking up our coverage Kitty.
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