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CNN Live Today
Where Are All the Jobs?
Aired September 02, 2003 - 11:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: When you can't find work, it's likely that one of the first questions you'll ask is, where are all the jobs?
Well, "Fortune" magazine's Andy Serwer has been doing some research on just that question. He joins us this morning from New York with the first segment of his series, "Where the Jobs Are."
So, apparently get your net and go, huh?
ANDY SERWER, "FORTUNE": That's right, Heidi.
We went around the country looking for jobs and businesses and companies that were booming, doing well despite the weak economy. That's been true about lobstering in Maine for the past decade. Let's take a look.
(BEGIN VIDEOTAPE)
UNIDENTIFIED MALE: Go ahead.
SERWER (voice-over): Maine's lobstermen don't exactly have it easy. Strict state laws limit the numbers of traps they can set. They're also required to throw back about three-quarters of all of the lobsters they catch. Lobsters too big or too small or valuable females get put back.
UNIDENTIFIED MALE: Has it got eggs on it?
UNIDENTIFIED MALE: No, (UNINTELLIGIBLE) with eggs.
UNIDENTIFIED MALE: That's a future egg there.
UNIDENTIFIED MALE: You throw them overboard with the utmost respect.
UNIDENTIFIED MALE: Yes.
SERWER: But all of the restrictions seem to be working. The lobster economy has never been better. The state has experienced a 10-year string of record catches, hauling in more than 62 million pounds of lobster last year alone. That translates into over $500 million last year for Maine's economy.
And that's good news for Chris Johnston, who sells lobsters for a living, with a restaurant and wholesale business.
CHRIS JOHNSTON, FIVE ISLANDS LOBSTER COMPANY: So, we've got lobsters down here to sell. It will attract some tourist business. And, really, for all of the small businesses down here on the island, it's good for everybody.
SERWER: But are there warning signs that the boom is about to go bust? Ecologists point to over-fishing. Maine's lobstermen have tripled their catch from just 12 years ago.
And then, there is the looming threat of shell disease, like the one that swept through southern New England recently, crushing the region's lobster economy.
But lobstermen, like Jim Lang, say they'll be just fine, as long as fishing limits stay where they are.
JIM LANG, LOBSTERMAN: My biggest fear is being regulated by people that don't know enough about fishing. That's what scares me the most about this industry. The resource is there, we've had record years. I mean, there shouldn't be no concerns.
SERWER: Lobster boat captains have done pretty well for themselves as of late. Work that can have them out on the water at 4: 00 in the morning can earn them well into six figures annually.
Ira Pinkham says there is no real reason for getting up so early. It's simply tradition.
IRA PINKHAM, LOBSTER BOAT CAPTAIN: I wouldn't do anything else. I don't know how to do anything else except fish for lobsters. I'll do it for the rest of my life. I know I will -- -for the rest of my life.
SERWER: Keeping intact a job and a tradition that has gone on for generations.
(END VIDEOTAPE)
SERWER: Unlike the technology or manufacturing sectors, Heidi, lobstering is really at the whims of Mother Nature. So these guys are really doing their thing, not worried about the overall economy, kind of an interesting little slice of life up there in Maine -- Heidi.
COLLINS: It certainly is, and a slice that I really like the taste of, too.
Thanks so much, Andy Serwer.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired September 2, 2003 - 11:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HEIDI COLLINS, CNN ANCHOR: When you can't find work, it's likely that one of the first questions you'll ask is, where are all the jobs?
Well, "Fortune" magazine's Andy Serwer has been doing some research on just that question. He joins us this morning from New York with the first segment of his series, "Where the Jobs Are."
So, apparently get your net and go, huh?
ANDY SERWER, "FORTUNE": That's right, Heidi.
We went around the country looking for jobs and businesses and companies that were booming, doing well despite the weak economy. That's been true about lobstering in Maine for the past decade. Let's take a look.
(BEGIN VIDEOTAPE)
UNIDENTIFIED MALE: Go ahead.
SERWER (voice-over): Maine's lobstermen don't exactly have it easy. Strict state laws limit the numbers of traps they can set. They're also required to throw back about three-quarters of all of the lobsters they catch. Lobsters too big or too small or valuable females get put back.
UNIDENTIFIED MALE: Has it got eggs on it?
UNIDENTIFIED MALE: No, (UNINTELLIGIBLE) with eggs.
UNIDENTIFIED MALE: That's a future egg there.
UNIDENTIFIED MALE: You throw them overboard with the utmost respect.
UNIDENTIFIED MALE: Yes.
SERWER: But all of the restrictions seem to be working. The lobster economy has never been better. The state has experienced a 10-year string of record catches, hauling in more than 62 million pounds of lobster last year alone. That translates into over $500 million last year for Maine's economy.
And that's good news for Chris Johnston, who sells lobsters for a living, with a restaurant and wholesale business.
CHRIS JOHNSTON, FIVE ISLANDS LOBSTER COMPANY: So, we've got lobsters down here to sell. It will attract some tourist business. And, really, for all of the small businesses down here on the island, it's good for everybody.
SERWER: But are there warning signs that the boom is about to go bust? Ecologists point to over-fishing. Maine's lobstermen have tripled their catch from just 12 years ago.
And then, there is the looming threat of shell disease, like the one that swept through southern New England recently, crushing the region's lobster economy.
But lobstermen, like Jim Lang, say they'll be just fine, as long as fishing limits stay where they are.
JIM LANG, LOBSTERMAN: My biggest fear is being regulated by people that don't know enough about fishing. That's what scares me the most about this industry. The resource is there, we've had record years. I mean, there shouldn't be no concerns.
SERWER: Lobster boat captains have done pretty well for themselves as of late. Work that can have them out on the water at 4: 00 in the morning can earn them well into six figures annually.
Ira Pinkham says there is no real reason for getting up so early. It's simply tradition.
IRA PINKHAM, LOBSTER BOAT CAPTAIN: I wouldn't do anything else. I don't know how to do anything else except fish for lobsters. I'll do it for the rest of my life. I know I will -- -for the rest of my life.
SERWER: Keeping intact a job and a tradition that has gone on for generations.
(END VIDEOTAPE)
SERWER: Unlike the technology or manufacturing sectors, Heidi, lobstering is really at the whims of Mother Nature. So these guys are really doing their thing, not worried about the overall economy, kind of an interesting little slice of life up there in Maine -- Heidi.
COLLINS: It certainly is, and a slice that I really like the taste of, too.
Thanks so much, Andy Serwer.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
