Seattle Stares Adversity in the Face and Laughs

April 1 -- While Boeing's departure is a blow to the economic and psychological heart of Seattle...it's just the latest in a parade of horribles.

Dotcoms are shutting down and auctioning off everything — phones, faxes and even fans.

Survinving tech companies such as Amazon.com and RealNetworks have seen their stocks plummet more than 90 percent. And Microsoft is still facing a breakup.

There's been violence here, too — during the World Trade Organization talks and recent Mardi Gras celebrations.

This famously damp place can't even count on rain anymore.And the city is still cleaning up after a magnitude 6.8 earthquake.

"There is an old Chinese curse that says, 'May you live in interesting times.' Boy is that true," said Seattle Mayor Paul Schell.

A funny thing is happening in Seattle. Instead of wringing their hands, people are responding to outrageous fortune with a sense of humor.

The economic slowdown hasn't caused fear at the fish markets or on the ferries.

"Our city will bounce back," said resident Roman DiLorenzo.

What's more some people here actually think this downturn might have an upside taking some of the edge off a city that became a poster child for the 90s boom.

"And now you can't drive anywhere, you can't go anywhere the traffic's terrible, the crime has risen," said resident Barbara Knight. "I mean it's very sad."

You've got to respect a city that can stare adversity in the face and laugh.