LEON HARRIS, CNN ANCHOR: Now we turn from a story of bankruptcy to a story of, really, somebody who is hiring, the White House is hiring. They've got a want ad out. Someone -- they need someone who's good with numbers and able to revive a wheezing economy. Well, President Bush apparently believes that he has found the right person to fill that post as treasury secretary, railroad executive John W. Snow. Let's check in now with our national correspondent Frank Buckley who checks in from the White House with more on that. Morning -- Frank.</s>FRANK BUCKLEY, CNN NATIONAL CORRESPONDENT: Good morning, Leon. Ari Fleischer, the Press Secretary here at the White House, confirming that an announcement will be taking place at 10:45 local time herein the old executive office building. The president set to announce the appointment of a new treasury secretary. He did not confirm the name, but sources tell us that it is, in fact, John Snow to replace Paul O'Neill. He is a former transportation department undersecretary. That was in the 1970s in the Ford administration. He is CEO and chairman of CSX, the largest freight rail network in the U.S. And he's also a former chairman of the Business Roundtable, an important component to the administration as they try to reach out to Main Street. The Business Roundtable an influential group of business executives and CEOs. He is said to have contacts on Capitol Hill, also in the private sector, in the public sector, that's the combination they were looking for in Mr. Snow -- Leon.</s>HARRIS: Thanks, Frank. Frank Buckley at the White House this morning. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Bush to Nominate New Treasury Secretary