Katie Couric's Notebook: Crocs

Well, it turns out the story is true, but it's not about Gators. It's about Crocs.

It seemed for a while you couldn't cross the street without catching a glimpse of those plastic clogs - like a rainbow army of Muppet feet all around you.

More than 100,000,000 of them were sold, and the company borrowed millions of dollars to produce more.

Trouble is, the shoe that was flying off the shelves two years ago became well, very two years ago.

Now, the Washington Post reports that the company has until September to pay the money back - and the Croc is in serious danger of going the way of the Earth shoe.

But we now know how that urban legend ends: it grows and comes back with a vengeance. Maybe Crocs can, too. Perhaps they'll re-emerge after going underground or in this case, spending some time in the back of the closet.

That's a page from my notebook.

I'm Katie Couric, CBS News.