Donors Save Philadelphia Mummers Parade After Budget Cuts

Mummers Parade in Philadelphia is a go this New Year's Day thanks to last-minute financial help from donors.

The 108-year-old parade's funding has been in jeopardy due to the troubled economy. The City of Philadelphia is reducing its support because of looming budget deficits.

But other donors have pledged more than $230,000 to ensure the Mummers strut up Broad Street on schedule.

Mummers lawyer George J. Badey III says the donors include the Delaware Valley Regional Economic Development Fund; Joey Vento of Geno's Steaks; the Electric Factory; Forman Mills; and Verizon.