Adam Baruchowitz collects bins of clothes for recycling

In New York City, residents, businesses, schools and other institutions generate roughly 21,000 tons of waste a day, or more than 7 million tons per year. About six percent of that annual waste is clothing, linens and other forms of textiles.

Now, one company is helping to not only reduce that ever-growing pile of trash, but to make money off of it too. Paige Kollock reports.