Experts: California ill-prepared for the 'Big One'

Beyond the sunshine, the palm trees and Hollywood, if there is one certainty in California, it's that a massive earthquake will strike at some point.

But when the Big One hits, a recent report says, the western state is ill-prepared and local officials as well as major businesses need to face that reality to "prevent the inevitable disaster from becoming a catastrophe."

Drafted by a group of business and policy leaders, the report identifies several key areas that need to be addressed before a quake as strong as a magnitude 8 happens, notably aging infrastructure, water supplies and the risk of catastrophic fires.