With the economy in dire straits, the financial pinch is being felt by all – most recently by Eddie Doyle, the real-life bartender at the tavern that inspired the famed television show “Cheers.” In his first national network interview since being laid off due to sagging business, Doyle talks with correspondent Tracy Smith about his 35 years at the beloved Boston bar, as part of CBS SUNDAY MORNING’s annual “Money Issue,” anchored by Anthony Mason, Sunday, March 15 (9:00-10:30 AM, EST) on The CBS Television Network.
In the broadcast, which examines any number of things financial, correspondent John Blackstone visits Las Vegas, where even high rollers are hesitant to roll the dice. Ever since it sprung from the desert in the 1940’s, Sin City has seemed immune to the economic ups and downs of our country, until now. With restaurants and casinos verging on bankruptcy, hundreds of people losing their jobs and home prices falling, this once-thriving town is seeing its winning streak come to an end.
Correspondent Sheila MacVicar offers a snapshot of Iceland, where all of the country’s banks failed in a single week last October, wiping out 85% of its economy. She talks with Icelanders facing staggering debts as a result of the economic collapse… many now returning to the sea… to fishing, perhaps Iceland’s earliest economic wellspring.
The economic news is not all bad though, as correspondents Rita Braver and Russ Mitchell found out. Braver visits some of FORTUNE magazine’s “Best Companies to Work For,” where employees enjoy coming to work, and decision-making is shared by all… workers and executives alike. Mitchell talks with entrepreneur Vic Firth, the former principal percussionist for the Boston Symphony Orchestra, who began making drumsticks in his basement nearly 40 years ago. A favorite among musicians from jazz bands to punk rockers, Firth’s factory in Maine is thriving… producing more than 60% of all drumsticks sold worldwide.
Bill Geist and Mo Rocca offer up some unique financial survival tips. Afraid you might lose your job? Geist gets a lesson in how to look busy at work from a ‘looking busy coach,’ whose pointers include doodling and fake sweat spray. Mo Rocca learns the art of do-it-yourself clothing, as he interviews Martha Stewart and tries his hand at knitting and sewing.
Additionally, SUNDAY MORNING will highlight ways to be frugal yet fashionable, Anthony Mason looks at how the economic crash will bring about large-scale changes to our society, and Suze Orman offers practical hints on turning your money woes around.