CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' right now. Federal regulators are ready to bring wireless technology to you and your car. Carrie Lee has more live from the Nasdaq market site. Good morning, tell us about this.</s>CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: A very interesting idea, Carol, set to come out in about three years, basically giving people access to things like traffic reports, even finding a nearby hotel. Let me give you the details here. Federal regulators expected to set aside airwaves for a new wireless technology, similar to Wi-Fi technology or wireless fidelity technology. And this idea would let motorists use small display screens to get traffic updates, buy fast food or find nearby hotel accommodations. Now the Federal Communication Commission is slated to mark airwaves for short-range communications. And the new airwaves would be licensed, mainly to state transportation or local police or fire agencies. They would then set up transmitters at key locations. See, the idea here, Carol, is that instead of listening to a radio station waiting for that traffic update, it would be more direct. There may be some commercials involved with this, no surprise, have to make some money somewhere. But bottom line, a good thing for motorists because you will get more updated information when you are driving. Again, expected to come out in about three years.</s>COSTELLO: We'll look for it. Thank you. Carrie Lee live from the Nasdaq market site. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com Wireless Tech>
Wireless Alerts: FCC Ready to Set Aside Airwaves for Wireless Tech