How is it 8 AM in NYC (according to today show) and 8 AM in Missouri simultaneously?

I was just watching the Today Show on NBC and they showed Bejing (the spot for the 2008 olympics) with a little clock in the corner saying 8:00 PM in China and "live" 8 AM EDT in NYC. But it is also 8 AM in missouri, a state belonging in the central time zone. Since NYC is in the eastern time zone what does this mean? Is that "live" indication incorrect??!? Is the Today show always broadcasted an hour after it is taped and then shown in the other timezone thus never really being live for anyone living outside of the eastern time zone? And does the same go for SNL or is that actually being taped at the very moment I'm watching it at 10:30 PM central and 11:30 Eastern?!?