president and emergency meeting of the security council tomorrow. that's it for us tonight. thanks for being with us. have a great weekend. good night from >> a man who can have anything... >> he'd lay awake nights trying to think of a way to make a dollar. >> ...throws nothing away. >> you must have said to grandpa, "this can go, can't it?" >> yes. and we told him that a million times. >> one strange inheritance. >> wow, and it's packed! >> one heavy burden. >> how much do you have? >> oh, about 3 million pounds. >> one heck of a yard sale. >> this has got to be the largest i've ever seen in my life. i said, "if you can organize it, we can inventory it, and we can sell it." >> [ auctioneer calling ] [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ]

>> i'm jamie colby. and today, i'm in tulsa, oklahoma. i'm here to meet the son of a remarkably successful businessman and epic hoarder. file this under 80 years of grit and true metal and 40 acres of scrap metal. >> my name is john hemphill. in february 2016, my father passed away. he left me a thriving company that's a testament to his business acumen. he also left me a 3 million-pound headache that says a lot about my dad, too. >> i meet john in the lobby of hemphill corporation. and this was your dad. >> yeah, this is dad. he started the business back in the '50s. and i'm running it now. come on. i'll show you. >> as john drives me around the company, i come to understand the "jekyll and hyde" nature of his strange inheritance.

these look like cell towers. >> yeah, these are guide towers for wireless communication. and that's our main business now. >> but his dad built that business while indulging his industrial-strength urge for collecting. big stuff -- iron, scrap metal, machinery... things you can't squirrel away in a closet. take, john says, these assembly-line carts, please. did he really need this many? >> oh, my goodness. no. and he didn't need the ones that are out in the yard. we have dozens and dozens. >> it all starts with this serious little guy, elmer hemphill, born in 1935 on a farm near tryon, oklahoma, to parents elsie and marvel. >> he learned his work ethic from my grandparents because they believed in work. >> the hemphills, like other oklahomans, are hit by drought and dust storms

during the great depression. many of their neighbors flee to california. but they stay put. when elmer is just a kid, a stranger shows up at the farm to buy some hay. and the boy jumps at the chance to make a sale. >> i see you got four bales of hay there. >> my grandma looked outside, and he was talking to a guy that had shown up. >> how much you want for all four? >> for all four? >> she went out and asked if, uh, she could help him. and he said, "this young man's already taken care of it." turns out he did make a fair deal, probably better than grandpa would've made. but, uh... >> how old was he? >> she said he was 5 at the time. >> so he was a pint-sized deal maker. >> yes. >> at age 13, elmer convinces the town banker to give him a business loan. what is a 13-year-old borrowing money for? >> well, he was gonna use the money to buy registered sheep and raise 'em and sell 'em. and he made some good money. >> he had a mind like a steel trap.

>> earl hart grew up with elmer, and they became friends for life. >> elmer'd lay awake nights trying to think of a way to make a dollar. he was just determined to succeed. >> in 1953, the teenage entrepreneur heads to the big city, tulsa, with 600 bucks and a simple philosophy. >> it was "you never know how far a toad'll jump until you punch it." what it really meant was "you can't just sit back and hope things happen. you gotta go after it." and he was definitely one to punch the toad. >> like when he starts his own drilling company, then goes on to manufacture machine parts for aerospace and military applications. along the way, elmer gets married and starts a family. as soon as he's old enough, son john joins him in the business. signs of his dad's obsession are everywhere. john just doesn't yet see them. >> my first job was cutting weeds. and i remember a lot of the stuff

that's still here back in the '70s. having grown up with all this stuff, i really never thought of it as being as crazy as it was. >> no kidding. after all, business is booming. by the late 1970s, elmer's company has 150 employees. and his family's growing, too. four kids and then a brood of grandkids, including john's daughter, kristen, a chip off the ol' block, who learns about business and life from her papaw. sometimes he failed. >> and sometimes he really succeeded. but either way, he kept a good attitude. >> he also keeps that stubborn dust bowl "waste not, want not" mentality that increasingly baffles john. >> he would keep a piece of pipe that was, you know, 1 foot long. >> bigger stuff, too, like this defunct drilling rig purchased for 25k for a railroad project in west virginia back in 1967.

or this contraption that dates back to the '80s. >> he actually invented this drilling rig for a special project for the tulsa expo to lash on to a pier to help secure the foundation. >> the tulsa exposition center endures as a city symbol. the big rig just gathers dust. but john doesn't complain. no questions asked of dad? >> no questions asked, no. when he looks at something, he doesn't see what a lot of us see. he sees potential. >> in the mid-'80s, when the price of crude oil plummets, elmer punches another one of those toads and ends up in the business of building transmission towers for those newfangled cellphones. >> we started building cell tower sites, and we've been building 'em ever since. probably built about 5,000 of 'em. >> but with each new endeavor, elmer's stockpile of retired equipment gets taller and wider and, john knows,

increasingly irrelevant to the business at hand. what will hemphill ever do with these extra-large hydraulic rigs or thousands of feet of fencing? and is anyone saying at that point, "oh, my god, we gotta unload some of this stuff"? >> no. it was pretty much known that we just needed to put it where he wanted it put [laughs] and live with it. >> but living with it is about to become geometrically harder, for elmer's no longer content with stockpiling scrap and equipment left over from hemphill's own jobs. now he starts actually gobbling up other companies' junk just because. >> i don't care what it was. and if it was cheap enough, he'd buy it. and he said, "someday, it'll be worth something." >> that's next.

>> but first, our "strange inheritance" quiz question. radioshack, samsung or motorola? the answer after the break. let's talk about america.

not policies. not taxes. not tweets. but how incredible our country is. [man 1] left, right... urban, suburban and rural. [woman 1] we all deserve to live in a community that's clean, green and thriving. we are keep america beautiful. [man 1] the non-profit empowering people like you to take action everyday at home, work and in the community. [woman 1] visit kab dot org. together, we can do beautiful things. >> so, what company

made the world's first mobile phone call in 1973? it's "c," motorola. from a manhattan street corner, exec martin cooper called the headquarters of rival at&t to claim bragging rights. >> oklahoma business mogul elmer hemphill spends decades amassing a ginormous stash of industrial machinery, spare parts, and scrap metal that nobody, least of all his thriving company, really needs. having worked with his dad for years, elmer's son, john, is tiring of watching it all pile up. did he tell you what he was planning to do with it? >> he would always talk about how we could use it to build overhead bridge cranes and build fencing. >> but elmer's just a magnet that never lets anything go. eventually, he's drawn to other companies' scrap, like this plate-rolling system that elmer buys for $75,000,

then puts out to pasture. >> if it was a piece of metal, he'd take it. i don't care what it was. and if it was cheap enough, he'd buy it. and he said, "someday, it'll be worth something." >> "if only it were just metals," says his son, john. >> he used to say that if a, uh, trainload of pencils was cheap enough, he'd buy it. >> that pencil train never arrives. instead, elmer catches the ones full of tractor seats, file cabinets, and office chairs. i assume i've seen it all? >> oh, no. no, there's -- there's a whole bunch more. >> bolts, bricks, drill bits, chains, springs, trucks, trailers, you name it. it all seems so random. >> it definitely is. >> it looks like junk. but, to him, was it treasure? >> oh, it was definitely treasure. >> if there's a day when john realizes his shrewd businessman dad is also, let's just say it,

a hoarder on the industrial scale, it may be when this shipment arrives. what do we have here? >> these are, uh, machining tables from mcdonnell douglas. and they helped win the cold war. >> in what way? >> they were used to build the instruments and the parts for, uh, military aircraft. >> the cold war ends in 1991. but elmer's biggest hoarding years are still ahead of him. he grows his scrap collection to fill multiple warehouses and litter 40 acres of land surrounding his company headquarters. >> so, jamie, here's an interesting piece. and it's been sitting here for over 10 years. >> worth anything? >> it's really just scrap today. >> by this time, elmer's granddaughter, kristen, is trying to coax him to let go. >> something like this, you must've said to grandpa, "this can go, can't it?" >> yes. and we told him that a million times.

>> but that old tulsa drilling rig stays, like everything else, including elmer, into his 80s. he's always been an iron man. but now there's rust on his fenders and creaks in his hinges. >> and, uh, one day, i said, "elmer, why don't you retire?" "oh, i don't wanna retire." he said, "when i die, i wanna be walking across this shop floor." >> in february 2016, elmer l. hemphill passes away surrounded by friends and family at the age of 80. >> it was the night of the super bowl. my stepmom, audrey, was right beside him. but we knew that it was time for him to go. >> son john inherits the business and all that heavy metal his dad hoarded while running it. >> all this steel -- how much do you have? >> oh, i'd estimate probably about 3 million pounds. >> millions? that's amazing. >> it just grew and -- and grew and grew and, you know,

we just need to get rid of it. >> and he's going to leave that job to his heir, daughter kristen. >> my grandfather could be rolling in his grave right now. >> up next, getting on top of this heap. >> i've appraised everything in america that's ethical, moral, or legal. and when i saw hemphill's collection, i was overwhelmed. >> here's another quiz question for you. the st. louis gateway arch, the george washington bridge, or the beijing national stadium? the answer when we return. i can't tell you who i am or what i witnessed, but i can tell you liberty mutual customized my car insurance so i only pay for what i need.

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>> so which architectural marvel is the largest steel structure in the world? it's the beijing national stadium. dubbed the bird's nest, it was built for the 2008 olympics with 110,000 tons of steel. >> when elmer hemphill dies, he leaves his son john his oklahoma business empire. but the strange part of this inheritance is a stockpile of cast-off equipment, machine parts, steel, and scrap. it's a 3 million-pound headache. so john figures he'll leave that to his daughter, kristen, and son-in-law, jim. >> i told jim and kristen that if it's a project they wanted to tackle, that i'd love for them to see if they had ideas. >> i'm always interested in taking on new projects. so dad asked us. and we were crazy enough to do it. i really felt like i needed to step up and help my dad out and help the family.

>> but you can't just call goodwill to pick it all up. so, where to begin? did grandpa keep notes on all this stuff? >> he did, actually. in the back room, there is a library full of notes that papaw took about each project. >> so do they give values? were there bills of sale? >> no, there wasn't values. >> thank goodness for ebay. with a couple of mouse clicks, kristen finds out these antique carts, built to roll on railroad tracks, can fetch 1,500 bucks apiece. elmer has hundreds of 'em. and parts of the steel yard that look like scrap could be worth tens of thousands to individual buyers. kristen's thinking, "maybe grandpa elmer was right." and if she finds the right buyer, she'll turn his scrap iron into gold. but her husband, jim, weighs in with a reality check. there's 3 million pounds of this stuff!

>> i don't wanna spend two or three years doing this. >> so he and kristen approach kristen's dad with a proposal. how about a massive auction, on-site at hemphill and across the world on the internet? >> they said, "well, what would you think about auctioning it?" and i thought, "boy, i don't know if dad would want that." and then i went home that night and i'm thinking, "well, i don't know why i didn't think of that earlier." >> so kristen and jim call in various auction houses. the immediate response -- "you're nuts." >> most of the auctioneers that jim and kristen talked to basically said, "we can't handle this. this is way too much for us." >> when i saw hemphill's collection, i was overwhelmed. this has got to be the largest collection that i've ever seen in my life. >> louis dakil of dakil auctions in oklahoma city, however, is up for the challenge. >> i've appraised everything in america that's ethical, moral, or legal.

and i said, "if you can organize it, we can inventory it, and we can sell it." there's one saying we have in our industry -- you can't outlive iron. >> i have told 'em if we make some big money on it, great. and if we don't, it's okay. i think success is it being outta here. >> sounds like it's time to let the bidding begin. >> some things that i thought were, you know, potentially going in the trash are treasures to some people. >> that's next. what's your "strange inheritance" story? we'd love to tell it. send me an e-mail or go to our website, strangeinheritance.com. with my friends to our annual get-together, especially after being diagnosed last year with advanced non-small cell lung cancer. (avo) another tru story with keytruda. (dr. kloecker) i started katy on keytruda and chemotherapy and she's getting results we rarely saw five years ago.

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>> now back to "strange inheritance." >> in 2016, members of the hemphill family -- john, his daughter, kristen, and her husband, jim -- join forces to auction off 40 acres of cast-off machinery and equipment.

it's a strange inheritance left to john by his dad, an oklahoma businessman with a love for all things iron and steel. louis dakil of dakil auctions says most of the bidding will take place online. and the plan is everything sells, no matter the price. >> this auction is an absolute auction. no minimums. everything that goes on the block will be sold. >> it takes kristen and jim three months to itemize and catalog grandpa's gargantuan inventory of heavy metal. finally, in august 2016, the big moment is here. how many lots are we talking? >> 1,186 lots. >> one of the first items up for bid, this antique trailer, fetches 300 bucks. these 100-foot monopole towers left over from elmer's early days

in the cell tower business go for $230 each. things are selling fast, but cheap. >> i've been watching all morning, since 9:00. some things that i thought were gonna go for more are actually selling for less. >> [ auctioneer calling ] >> like these antique railroad carts, similar to one she saw on ebay for $1,000. hundreds sell, but for only 17 bucks apiece. >> [ auctioneer calling ] >> then there's that old railroad drilling rig, purchased in 1967 for 25k. it sells, but for only $4,000. and the gigantic plate-rolling system elmer bought in an old shipyard in south carolina for 75 grand sells for just 1,000. >> my grandfather could potentially be rolling in his grave right now. >> but kristen's delighted when this hydraulic plate

shearer, designed to cut metal and alloy, goes for $2,025. and that rig elmer designed for the tulsa expo building, it goes for 4k. >> i had no idea how much that was gonna sell for, so that was a surprise. >> over the next 48 hours, the hammer falls on thousands of items. >> we sold some things for $4,000. we sold some things for 50 cents. so the price range was pretty large. >> so are you guys exhilarated or exhausted? >> both. i would say both. [ laughs ] >> the grand total -- 175,000 bucks. not exactly petty cash. but considering the time, effort, and money elmer invested, they have to admit, this was one toad that didn't jump so far. >> they love their grandfather. they love their father. but basically, his perfect storm was buying and storing,

but never getting rid of anything. >> that's why, for john hemphill, the bottom line is all good. his strange inheritance is out the door. >> it's kind of, uh, oh, bittersweet because i know dad would wanna hang on to it. but i know it needs to be released. and ultimately, it's -- it's a good thing. >> back in 2013 when the hemphill corporation was renovating the office, elmer's kids surprised him with a gift befitting a successful entrepreneur -- a fancy desk, a big comfy chair and a flat-screen tv. elmer never touched it. instead, he took his ratty old desk, bought this second-hand trailer, put the desk inside, and drove around in it to every job site so he could be close to the action. and that's where you'd find him till the end of his days. i'm jamie colby.

thanks so much for watching "strange inheritance." and remember -- you can't take it with you. ♪ >> at the edge of death valley... >> it's weird and unusual and unique. >> ...a man puts a dusty weigh station on the map. but the town and his legacy fall on hard times. >> i was hearing from the residents that it was an eyesore. >> has he left his family a money pit... >> we want you to keep this in the family at all costs. >> ...or a monument? >> sometimes in life, we don't appreciate things until they're gone. [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] ♪ [ horn honks ] >> i'm jamie colby, and today

i'm driving through the mojave desert on my way to the tiny town of baker, california. it's halfway between los angeles and las vegas. just a tiny dot on the map -- 800 people. it embodies the weirdness of both those cities, and its largest attraction, definitely its tallest, has become one family's rather strange inheritance. >> my name is larae harguess, and my father, willis herron, set out to build the world's tallest thermometer. >> hi. i'm jamie. >> hi, jamie. i'm larae. nice to meet you. >> it's big. >> it is the world's tallest thermometer. >> well, if someone figured this roadside attraction would get you to stop and gawk, it sure as heck worked on me. >> hi. how are you, janice? i'm jamie. >> hi. nice to meet you, jamie. >> today, larae and her sister, janice neisess, run a gift shop in the shadow of the tower. they sell thermometer t-shirts,

thermometer hot sauce, even thermometer thermometers. yes, this really is the world's tallest thermometer. and it would be strange enough just to inherit a 130-foot thermometer in the middle of the desert, but what's as remarkable is the mission that larae and her family took on after her father died in 2007. >> you're sure? >> i got to get a closer look. i tell larae's husband, bill, i'm ready for a challenge. i've been training to climb to the top. i'm going in. >> okay. >> why did he say it that way? >> i just bombed it this morning for the spiders. >> spiders. i'm a girl of nature. >> black widows. >> they're little spiders. >> black widow spiders. >> yeah. >> i think you'd better close it up. >> they're small. >> even this host has to draw the line at black widow spiders.

the story of this strange inheritance begins with a young man who falls in love with the california desert. in the early 1950s, after service in the air force and college, willis herron heads west from his home in kentucky to join his father in barstow, california, where his dad has become a restaurateur. >> he and his father had a couple restaurants in barstow, and he was successful. my dad was very personable. >> successful enough that a local businessman offers to partner with young willis on an all-night diner in baker, 60 miles up the road. you may think a place known as the gateway to death valley is an unlikely spot for an eatery, but willis sees it differently. >> he knew that people would need to stop between los angeles and las vegas. >> at a time when few cars have air-conditioning, baker is a perfectly located oasis,

a spot for gamblers to cool off from the desert heat. pretty soon, willis' burger joint, called bun boy, is a landmark. 24 hours a day, seven days a week, winners drive in to celebrate, and losers drown their sorrows in...strawberries? >> fresh strawberry pie -- that was what it was known for. it was definitely kind of an americana diner -- the big breakfasts but also, you know, the burgers, the specialty sandwiches and things like that. >> in 1971, willis falls in love with barbara sturm, who comes with a house full of daughters -- larae, janice and terri -- just the kind of work force you need for a family restaurant. >> we all started as bussers, and we did dishwashing, and we did waitressing. >> this is the menu, right, of bun boy? the original. the burger was $3.95, and it came with coleslaw, french fries, or potato salad. that's a steal of a deal!

>> and a smiling waitress. [ laughs ] >> willis will eventually buy out his partner and become the biggest fish in the town's very small pond. >> we had three restaurants, two motels, two gas stations, a grocery store, pretty much within a block. >> baker booms. in the late '70s, willis buys a nice house in silver lake, a desert community 75 miles away. but soon business in baker sputters. cars are all air-conditioned. gamblers can drive straight through and arrive in vegas cool and comfortable. willis needs a gimmick, something to grab their eye and their wallet. he gets his inspiration in an unlikely spot -- international falls, minnesota. >> they had the world's tallest thermometer, and it was 22 feet high. and so i think he saw that

and the wheels started spinning. >> 22 feet? pshaw. his thermometer will mark the highest temperature, 134 degrees, ever recorded in death valley. it will soar as high as baker is hot. >> i know that my mom recalls saying, "have you lost your mind?" [ laughs ] "134 feet?" my dad looked at her with those blue eyes and said, "oh, honey, come on. this will be fun." ♪ >> in 1990, willis cuts a deal with yesco, a las vegas company that builds and finances those big, eye-catching signs. >> if you asked my mom, she would think that he was a little crazy to spend $750,000 to build a thermometer. >> $750,000? >> yes. yes.

>> a little crazy? that may be putting it mildly. willis plunks down $150,000. yesco does a lease deal to finance the other $600,000. by the fall of 1991, construction is wrapping up. despite the expense, the challenges, and the questions about his sanity, willis pops for a lighting ceremony. he bills it "the great turn-on." >> the invitations had gone out. thanksgiving day, he's out playing golf with his grandson. and he comes home, and my mom says, "honey, sit down. i have something to tell you." >> that's next. >> but first, our "strange inheritance" quiz question. what's the most visited tourist attraction in the united states? is it times square, walt disney world, or the las vegas strip? the answer in a moment.

♪ >> so, what is the most visited tourist attraction in the united states? the answer is "a," new york's times square. nearly 42 million people visit annually. >> november 28th, 1991, near death valley, california. at the time, restaurant owner willis herron is just weeks away from the grand opening of his monumental roadside attraction, a 134-foot thermometer.

but suddenly, a freak storm gathers over the mojave desert. >> thanksgiving day, we got a devastating phone call that the wind had come through here and actually blown the thermometer over. >> oh, no. was anyone hurt? >> nobody was hurt or killed. >> herron's dream for restoring the economy of the tiny town of baker appears crushed. it's a bitter lesson in the power of nature, one that might have defeated a lesser man, but not willis herron. >> it was insured, so he said, "put it back up." >> to keep it from having that problem again, we filled that center pipe with cement. >> 226 tons of cement, to be exact. in october 1992, willis herron flips the switch, and the world's tallest thermometer lights up. >> it flashes, and it's there. you could hear my mom crying in the background, going, "oh,

thank god." >> so you were only 2 years old when it was built? >> yeah. it's funny. there's all these cute pictures of us as kids. >> to his grandson dan neisess, this towering monument establishes willis as a legendary figure, a small-town tycoon. >> i'm sure that the amount of money it took to put up the thermometer was paid back 10 times. >> willis' brainstorm helps make him a rich man. >> it brought business to baker and people visiting and stopping and seeing it as kind of this unusual landmark in the middle of the desert. >> willis also still owns two restaurants -- his flagship bun boy and a coffee shop -- plus two motels, four gas stations and a country store. he and his wife, barbara, are practically lord and lady of baker. >> anytime anybody ever needed anything in the family, it was kind of like the understanding that they'd go talk to my grandfather,

and he'd help you out. >> but willis knows the good times can't roll forever. >> in 2000, his health was declining. he was 75 years old. he knew it was time to just sell it all. my mom actually didn't want him to sell the thermometer, but he didn't want her to have to worry about anything, finances or anything. >> so he puts it all on the market -- the motels, restaurants, gas stations, and the world's tallest thermometer. he finds a buyer who wants it all and will assume the lease on his signature attraction. willis takes back mortgages on the thermometer property and his other businesses. he's expecting a nice income stream well into the future. for 18 months, the new owner makes regular payments, and willis enjoys his retirement. but then things get complicated. the new owner is struggling. he wants out.

so in 2006, to protect his investments, willis finds another buyer. but the new owner needs a bank loan and won't get it unless willis puts up the thermometer property as collateral. if the loan is not paid off, the bank can take it. then, in july 2007, willis herron dies at the age of 82. >> little did he know that the economic downturn would hit in 2009, 2010. >> selling continuing after dropping 1,000 points over the last week. >> so that dream of his that mom wouldn't have to worry about anything changed quickly when people didn't pay the bills. >> as the restaurant business fails, the new owner cuts back on maintenance of the thermometer. then he stops making payments on the lease. soon the spire that willis erected to draw people off the highway advertises only baker's economic distress. >> it had been vandalized.

i was hearing from the residents out there that it was an eyesore because it wasn't working. >> some people even wanted it torn down. >> the herron family is shocked. >> my mom saw it a couple years ago, and she was devastated. >> tell me about that day. >> there was a couple standing in front of it taking their picture, and she stomped right over to them and started apologizing profusely for the way that the thermometer looked. and she vowed on that day to have it completely restored and brought back to its glory. >> barbara has inherited only a mortgage on the property. that's hardly enough to make good on her vow. so won't she be better off cutting her losses? >> sometimes in life, we don't appreciate things until they're gone. >> that's next. >> here's another quiz question for you. what is america's oldest roadside attraction? a six-story-tall elephant, a 10-ton ball of twine, or a

94-foot replica of the leaning tower of pisa? the answer in a moment. time and time again, you know when i'm doing street magic..i'll walk up to someone and i can just see they're against me right? they don't want to be amazed.

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>> so, what is america's oldest roadside attraction? the answer is "a." lucy the elephant has been stopping traffic in margate, new jersey, since 1881. constructed of wood, she is 65 feet high and weighs in at 90 tons. >> tell me about the motels, dan. >> well, my grandpa owned a lot of motels here in baker. it was kind of a big business back then. >> dan neisess is reminiscing about his grandfather willis herron's small-town business empire

here in baker, california. before his death in 2007, willis thought he'd unloaded it all, including his beloved roadside attraction, the world's tallest thermometer. a few years later, however, the businesses are shuttered. willis' loans to the new owners are in default, and the thermometer is a wreck. some locals want to tear it down. dan is just one of the family members who rally behind his grandmother barbara's crusade to reclaim and restore it. >> it's a weird thing that probably doesn't make any sense to anybody, but it matters to some people. it matters to a lot of people, i guess -- more than we ever thought. >> barbara herron, who's in her 70s and has serious health problems, lives 90 miles away and is in no position to deal with the layers of deeds, mortgages, notes, and leases that her husband attached to the holdings he left her. her daughters jump in to help,

but larae is a school guidance counselor, and janice is a teacher. this business stuff ain't their bag. as i'm looking through all the pages of the transactions for your family to stay involved with the thermometer, i'm wondering how complicated is it now? what's the deal? >> we're not gonna win businesswomen of the year awards. >> on this transaction, no. >> you might not. >> no. >> the sisters know this -- if their mom wants to wrest back control of their strange inheritance, she'll have to fund a bail-out. >> yeah, she took it out of her savings to do this. >> in her 70s? >> mm-hmm. >> was that the right decision, janice? >> yes, it was. i think so. >> i got to wonder -- barbara herron wants to redeem a pile of bad debt on distressed properties, including that thermometer, in a town whose best days may be in the rearview mirror. >> but this was not done for business. this was done for the heart. and we wanted to bring back my dad's legacy.

>> step one -- yesco, the company that built and financed the thermometer, agrees to write off its debt and relinquish any claim on the structure. step two -- barbara forecloses on the thermometer property. step three -- she pays off the bank that still has a lien on it. finally, willis herron's pride and joy is back in his family, free and clear. step four may be the hardest part -- getting the darn thing working again. for that, it's back to yesco. >> we ended up having to put a new computer in it, new drivers, software, and new l.e.d. lighting. >> so how much did it cost to fix the thermometer? >> about $150,000. >> family members, most of whom live a couple of hours away, take rotating shifts in baker to protect the tower from vandals. >> here's where we've been the last four months. >> what? >> yeah.

>> you said you lived on the property. i thought there was a house. you've been living in this? >> this is it. >> willis' grandson, dan, a recent law-school graduate, takes a break from job hunting to help set up the gift shop. >> i painted everything, and i fixed the drywall, and... i don't know. all kinds of stuff. >> family members don't get paid. profits from the shop barely cover the electric bill for the thermometer. nevertheless, barbara has shelled out more than $330,000 to get the thermometer back and get it working. ♪ the last big question -- if she rebuilds it, will they come? that's next. i can't tell you who i am or what i witnessed, but i can tell you liberty mutual customized my car insurance so i only pay for what i need.

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>> now back to "strange inheritance." ♪

>> it's october 2014. and we do take cash. we're taking some cash. here in baker, california, even i've been caught up in the excitement... we have these heat- and chill- activated world's tallest thermometer cups. they make great stocking stuffers. >> okay. >> ...as willis herron's family celebrates their strange and hard-won inheritance. despite her serious health problems, willis' widow, barbara, comes to baker in style. >> here's my baby girl. >> today is the rededication of the world's tallest thermometer, decades after it first flashed across the mojave desert. ♪ >> thank you. >> over 40 years ago, willis herron, he had a dream. and my mom kept her promise, and she spent her savings to repair the thermometer and get it back into its glory,

where it should be. >> dedicated on this saturday, october 11th, 2014, to willis and barbara herron, original owners and founders of the world's tallest thermometer. [ cheers and applause ] >> i watched your face, and your smile said everything. >> yes. i am very proud. i've got three girls, and i'm very proud of all of them. they've done a very good job. >> and they're making sure their kids understand the importance of this monument to the memory of the man they loved. >> hey, you. we said, "remember this day. remember that this is as much your family. we're gonna be gone one day, and we want you to keep this in the family at all costs. it needs to stay in the family." >> it feels like giving back

to my grandfather, who had been so generous to all of us all our lives, you know, and to be able to say thank you. >> no doubt -- from bun boy to motels to that crazy thermometer, willis herron of baker was a classic american success story. but there's one big chance he missed. back in the early 1950s, he ran into a fellow kentuckian at a restaurant convention, a nicely dressed fella named harland sanders. yeah, colonel harland sanders, who wanted to let willis in on the ground floor of his own new enterprise, kentucky fried chicken. but willis turned the colonel down. "fried chicken?" he said. "nah, that'll never catch on." willis always told that story with a hearty laugh. i'm jamie colby for "strange inheritance," and remember -- you can't take it with you. do you have a strange

inheritance story you'd like to share with us? we'd love to hear it. send me an e-mail or go to our website -- strangeinheritance.com. ultimately triumph. i think i can promise that. >> from the world economic forum in switzerland, this is maria wall street. >> happy weekend. welcome to the program that analyze the week that was in helps position you for the week ahead. a special program coming from the world economic forum in doubles, switzerland. we have an all-star pack program this weekend. will be talking with wall street titans. also needs nato secretary-general coming in will join us to discuss multiple hotspots across the globe. finally i sit down with the company's outlook. first, my