East Village's Rainbow Music to close

- After 17 years in the East Village, Rainbow Music will close its doors at the end of September. Bill "Birdman" Kasper is left with thousands of records, CDs, VHS tapes, cassettes, and, of course the memories. And while his competitors turned to technology, Birdman has always had a different strategy to catalog his inventory: his mind.

He says half the people who open the door don't come in. But on this day the customers brave enough to shuffle through the narrow valley framed by what Birdman estimates to be 25,000 cassettes and a quarter of a million CDs left smiling.

For Birdman, Rainbow Music was a second act following a successful run in finance. He says he made millions on Wall Street. And now as he prepares to turn 74, Birdman is getting ready to traverse new territory once again. He says he has never sold anything on the Internet before, but he is going to give it shot.

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