Eye on the Economy: Area Businesses React to Stock Market Crash

One Traverse City business found they couldn't survive the economy's ups and downs any longer. Hard economic times are causing people to stop spending. This takes a toll on local businesses, even forcing some to close. The owner of Krissie's jewelry store says when money is tight, people choose wisely when spending their money; but not everyone is looking down on the economy. “7 monks” taproom in downtown Traverse City is just about to open. The owner tells us, no matter what happens with the economy, they plan in forging full-speed ahead with their September grand opening. Reporting in Traverse City, Sara Simnitch, and Photojournalist Jeremy Erickson.