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December 16, 2008

Feeling The Pinch

Feeling The Pinch

In one more sign of the interconnectedness of the global economy, the ripples from the failure of an Icelandic bank have spread to the coast of Maine. When the bank failed, Canadian fish processors who buy most of the fall lobster catch lost their source of credit. Maine lobstermen last week were being paid $2.60 per pound, the lowest price in a decade.

Clive Farrin is a lobsterman who has lived his whole life in Boothbay Harbor, Maine. He loves being on the water and the independence of fishing. Like other lobstermen, Clive is struggling to pay his bills, but he's determined not to give up on the job he loves.

Clive tells Dick Gordon how his community is trying to help local lobstermen stay in business. He isn't looking for a bailout, but he wouldn't mind if you ate more lobster.

  • Find out how to buy Maine lobsters (NOTE: If you live outside of New England and want to order live lobsters, prices will still be high. For lobsters to survive a flight, they have to have hard shells and be shipped overnight.)
  • Learn more about lobster fishing 

Inside A Mortgage Call Center

In 2003, at the height of the housing boom, Lukas Brandon landed a job as a mortgage customer service representative for Wells Fargo. He thought he'd be helping people by answering questions about their mortgages - but he soon realized he was expected to sell them products like home equity loans or automated mortgage payments. Lukas talks with Dick about when the disillusionment set in and what finally made him quit.

Music

"Lobster" performed by Jack Webb for the album "Just the Tracks Ma'am: The Warner Bros. Recordings".

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