confused

I just bought a 98 cav. and a light came on says ets off whats this mean,is it a serous prob:banghead:

ETS is the electronic traction system. It reduces engine power when wheel spin is detected, increasing the available traction. It comes on any time the ABS and/or SES light(s) is/are on. If one of those lights is on, check the codes and we'll go from there. There is also usually a button that allows you to turn the ETS off manually. Usually on the shifter/center console. The "ETS off" light comes on when the button is pushed too.