Homes this way, and there is evidence it actually saves money. We are paying more as taxpayers to walk past that person on the street and do nothing than we would be paying to just give them an apartment. You are fired. Four years from now get out in four years kroft jay leno is talking about the first time he was asked to leave the tonight show to make room for a younger comedian. Then, it happened again. And now, jay leno kroft tonight, leno talks about that, his future, and his current state of mind. I always tell new people in show business, i say, look, show business pays you a lot of money, because eventually youre going to get screwed. And when you get screwed, you will have this pile of money off to the side already. And they go, okay, okay. Okay, you ready . You ready . I got screwed. You got the pile of money . Yeah, im fine. I mean, thats the way it works. Im steve kroft. Im lesley stahl. Im morley safer. Im bob simon. Im anderson cooper. Im scott pelley. 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Talk about sticker shock and its not as though things have changed that much; theyre still made of a couple of pieces of plastic or wire, some screws and glass. Why should a pair of glasses cost more than an ipad . Well, as we first reported in october 2012, one answer is because one Company Controls a big chunk of the business. Never has there been so much choice raybans, oakleys; glasses for running and skiing and even reading. laughs a staggering variety of colors and designers. Youd think the competition would force the prices down. Wow, look at that. One reason it hasnt is a littleknown but very big Italian Company called luxottica. If you own a nice pair of specs or shades, theyre probably theirs. Luxottica is the biggest Eyewear Company on earth. It shuns publicity, but c. E. O. Andrea guerra invited us in for a look, and it was eyeopening. Do you have any idea how many people in the world are wearing your glasses right now . Andrea guerra at least half a billion are wearing our glasses now. Stahl luxottica started here as a small tool shop in agordo, a dot of a town in the italian alps, when frames were still made of Mountain Goat horns. This was the factory in 1961. This is what it looks like today. Last year, luxottica made over 77 million pairs of sunglasses and optical frames. They dont make prescription lenses. We saw mountains and mountains of glasses in boxes headed to china, india, brazil, and above all, to the u. S. But theyre very expensive. They can be very expensive. Guerra they can. This is one of the very few objects that are 100 functional, 100 aesthetical, and they need to fit your face for 15 hours a day. Not easy, and theres a lot of work behind them. Stahl luxotticas product manager Isabella Sola explained that the company revolutionized how we see glasses. You think i look cool . Isabella sola yes, i think so. Stahl i think i look cool, too. It wasnt that long ago that glasses were uncool. You only wore them if you absolutely had to. I can remember, not that many years ago, my mother telling me that men will never ask me out if i wear my glasses. I was to go blind if i wanted dates. But luxottica took this medical device and turned it into high fashion, by making deals to conceive and create high quality, stylish specs for nearly every brand and label you can think of. Sola we have prada. We have chanel. We have dolce gabbana. We have versace. We have burberry. We have ralph lauren. We have tiffany. We have bulgari. Stahl theyre not even called glasses anymore; theyre eyewear. Do people really wear this . Sola yes. Stahl once glasses became face jewelry, luxottica could charge a hefty markup. But you know something i know that there are some less expensive glasses that look very similar to the very expensive. For example, this is your vogue line, which is not that expensive. Sola yes. Stahl and this is. Sola coach. Stahl coach, which is much more expensive. If two women walked down the street with these on. Sola yes, they almost look the same. Stahl almost the same. Sola but its almost; its not the same. Stahl not the same because of details on the frames like the little chanel cs, polo ponies, or tiffany blue. Luxottica wouldnt tell us their mark up, but glasses like these can sell for up to 20 times what they cost to make. And all the glasses are designed by luxottica. So you design thousands of pairs of glasses. Sola we do, yes. Stahl where does tiffany come into it . Sola tiffany comes in at every stage, basically. Stahl the fashion houses send in sketches of their new collections as inspiration. And down on the factory floor, you can see the work that goes into differentiating the brands plain plastic temples go through a painting machine and come out versace, stones are inserted one by one into the dolce gabbana, and leather is carefully threaded for that chanelbag look. If people begin to know that chanel glasses were designed by luxottica, would it change the way they think about chanel glasses . Guerra you know, that would be totally wrong, that would be crazy. Stahl but why isnt the luxottica name a brand name . Are you in any way hiding it . Guerra hiding it . Stahl yeah. Guerra not at all. We are listed. Stahl listed on the new york stock exchange, where luxottica shares are soaring. The Company Raked in nearly 10 billion last year, but their bestseller wasnt a fancy fashion house label. It was a brand they outright own, rayban. Originally made by bausch and lomb for the u. S. Army, since j. F. K. , nearly every president has worn them, not to mention tom cruise in Risky Business and top gun. But the brand was poorly managed, cheapened, and eventually put up for sale. The italians bought it in 1999, and had a strategy to turn things around. Guerra we stopped selling sunglasses from rayban for more or less a year. Stahl when you bought it, you could buy them for, i dont even know how little money. Guerra 29. Stahl 29 at the drug store, at a gas station, and you took them off the market. Guerra we refurbished everything. Stahl and made them upscale today, those 29 pairs can cost 150 and more, and rayban is the topselling sunglass brand in the world. When americans go to buy these glasses, ill bet 99 think theyre buying an american brand. Guerra it is an american brand. Whats wrong with it . I mean, its an american brand owned by italians. I think the world is. The world is this. Stahl it is the world, and we dont realize it, thats the thing. Before i started working on this story, id never heard the name luxottica. Guerra yeah. Stahl which is all the more surprising since luxottica not only bought rayban, they also bought lenscrafters, the largest eyewear retail chain in north america. So now they make them and they sell them. Its great for business, but is it great for the consumer . Mark weikel was thenpresident of lenscrafters. How many nonluxottica brands do you sell here . Mark weikel we probably have a few brands that arent luxottica. Stahl mostly luxottica . Weikel mostly luxottica, yeah. Stahl so, since luxottica owns you, does the consumer get a break on glasses made by them in lenscrafters . Weikel what the customer gets at lenscrafters is a variety of services and products, including this broad assortment of frames. Stahl mark, youre not answering my question. Im asking if you charge less for frames made by luxottica since youre the same company. Weikel i think every competitor, every Retail Optical brand, determines what their pricing is on whatever their brands are. Stahl thats a no. Consumers do not get a break. At lenscrafters, the average cost for a pair of frames and lenses is about 300. You may think, well, theres choice in the mall for other glasses. But luxottica doesnt only own the top eyewear chain in the country; it owns another large chain, pearle vision, and oliver peoples, and several boutique chains. And it runs target optical and sears optical. And were not done luxottica also owns sunglass hut, the largest sunglass chain in the world. So, is there a free market in eyewear . Brett arends no, i dont think there really is. I think one company has excessive dominance in the market. Stahl wall street journal columnist brett arends says the appearance of variety is an optical illusion. Arends the reality is, its like. You know, its like Pro Wrestling competition. And its actually fake competition. Stahl consider what happened to oakley, the worldfamous maker of advanced sports eyewear. Arends oakley was a big competitor, and they had a fight with luxottica. And luxottica basically said, were dropping you from our stores. And oakley. Stahl they refused to sell their glasses in their stores. Arends yeah, there was a dispute about pricing, and they dropped oakley from the stores, and oakleys stock price collapsed. How is oakley going to reach the consumer if they cant get their sunglasses in sunglass hut . Guerra there were some issues between the two companies in the beginning of the 2000s. But both of them understood that it was better to go along. Stahl better to let you buy them . Guerra i wouldnt say this. We merged with oakley in 2007. Stahl you bought oakley. They tried to compete and they lost, and then you bought them. Guerra i understand your theory, but they understood that life was better together. Stahl so now, luxottica owns the two top premium sunglass brands in the world, rayban and oakley. But luxottica points out there are other players. Whos your biggest competitor in the United States . Guerra you could say walmart. Stahl also costco and emerging Online Companies like warby parker. But other competitors told us luxottica has them in a chokehold if you make glasses, you want to be in their stores; and if you have stores, you want to sell raybans. So luxottica can set the prices as high as it wants. Arends luxotticas dominance, its whats called a price maker, which means that essentially it can set prices and other people will follow in its wake. Stahl which, he says, is why glasses in general cost so much, even at your local opticians. Arends the whole point of a luxury brand is to persuade people to pay 200 for a product that costs 30 to make. Stahl well, let me show you something. Why is it any different than my shoe . Arends well, to some extent, theres actually a lot of comparisons. The difference is that the entire shoe industry isnt made by one company. And the same company doesnt also own all the shoe stores. Stahl youd think, well, surely, Insurance Companies covering vision would complain. But guess what . Luxottica also owns the nations second largest visioncare plan, eyemed, covering eye exams and glasses. What dont you own . Guerra a lot of things. Stahl not really. Guerra laughs stahl you seem to, really. Why not combine everything under one name . Guerra i think people love diversities, people love to have different brands, people love to have different experiences. Stahl its an illusion of choice if youre all owned by the same company. Guerra i think this is totally wrong. The question is, what kind of choice consumer has. Its not a question of how many you own. Stahl how does the consumer benefit from all this . Your prices are still high. Guerra if you go to a shoe company, would you say that their prices are high . Stahl youre trying to tell me its all worth all that money. Guerra everything is worth what people are ready to pay. Stahl and you know what . Hes right. It seems people are ready to pay a lot. I bet they cost a fortune theyre not too expensive. Stahl they cost almost 400. With prescription lenses, the price could jump to 600 or more. This past march, luxottica added to its roster what could be considered the final frontier in glasses. The company signed a deal with google to design, produce, and distribute google glass, adding a sense of style to the web connected eyewear due in stores as early as next year. Cbs must be watch update sponsored by glor good evening. Russia is threatening too cut off natural gas to ukraine tomorrow if payment deal isnt reached. The Congressional Budget Office says a bill thats passed the budget will double spending on Veterans Health care by 2017. And the fed kicks off a twoday policy meeting on tuesday. Im jeff glor, cbs news. How are things with the new guy . All we do is go out to dinner. Thats it . I mean, he picks up the tab every time, which is great. What . Hes using you. He probably has a Citi Thankyou card and gets 2x the points at restaurants. So hes just racking up points with me. Some people. Ugh no, ive got it. The Citi Thankyou preferred card. Now earn 2x the points on dining out and entertainment, with no annual fee. To apply, go to citi. Com thankyoucards life with Crohns Disease ois a daily game of what ifs. What if my abdominal pain and cramps come back . What if the plane gets delayed . What if i cant hide my symptoms . What if . But what if the most important question is the one youre not asking . What if the underlying cause of your symptoms is damaging inflammation . For help getting the answers you need, talk to your doctor and visit crohnsandcolitisinfo. Com to get your complimentary q a book, with information from experts on your condition. You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Cooper giving apartments to Homeless People whove been on the streets for years before theyve received treatment for drug or alcohol problems or Mental Illness may not sound like a wise idea. But thats whats being done in cities across america in an approach that targets those whove been homeless the longest, and are believed to be at greatest risk of dying. Theyre people who once might have been viewed as unreachable. But cities and counties affiliated with a movement known as the 100,000 Homes Campaign announced this past week that they had gotten more than 100,000 of these people off the streets and into permanent housing. We first told you about this initiative earlier this year. Local governments and nonprofit groups do most of the work. The money comes mostly from existing federal programs and private donations, and theres evidence that this approach saves taxpayers money. If it sounds too good to be true, then take a look at whats been happening in nashville, one of the cities that has joined the 100,000 Homes Campaign. Ingrid mcintyre you awake, buddy . Robert . Cooper in a Storage Facility on the outskirts of nashville, outreach worker Ingrid Mcintyre introduced us to Robert Mcmurtry. Mcintyre hey, good morning. I want to introduce you to my friend anderson. Cooper hey, im anderson. How are you . Shed come to ask him some questions about his health. Mcintyre how many times have you been to the emergency room in the past three months . Robert mcmurtry uh, twice. Cooper robert told ingrid he had a lot of medical problems h. I. V. , hepatitis c, and throat cancer. He was getting treatment at Vanderbilt University medical center, but living in this storage locker without a toilet or running water. He bathed in a stream by the side of the road. He said hed been homeless for three years. How old are you . Mcmurtry im 48. Cooper 48 . Im 46, so were two years apart. Mcmurtry uhhuh. Cooper its nice to see someone else with gray hair. laughter he said he used to work in the construction business, but fell on hard times after he lost his job and became ill. A friend took pity on him and allowed him to stay in this storage locker for the past three months. Mcmurtry i never imagined id ever be homeless, because i had. I really worked really hard my whole life, and it was just devastating, really, when it happened because i never imagined that i would be in this condition. Cooper Ingrid Mcintyre runs a nonprofit called open table nashville thats been working with the 100,000 Homes Campaign to survey the citys homeless and identify those at greatest medical risk. Do you think hes at high risk . Mcintyre i mean, hes one of the most Vulnerable People that i know. Cooper three days after interviewing robert, she returned with an offer that was hard to believe. Mcintyre if you want to, i have an apartment for you tomorrow. Mcmurtry really . Mcintyre do you want it . Mcmurtry yes. I do, really. Mcintyre good. Cooper the following day. Mcmurtry wow, man stahl . Robert moved in to his very own apartment. Mcmurtry this is great. Cooper its in a private building in downtown nashville. He wouldnt have to bathe in that stream anymore. The apartment has one bathroom, one bedroom, and access to this rooftop pool. As robert sits by the pool, until fairly recently, someone like robert would have to jump through a series of bureaucratic hoops, and go through a treatment or Job Training Program before getting permanent housing. The 100,000 Homes Campaign advocates using an approach first developed in new york in which the homeless are given housing first. Becky kanis what were really aiming for in this movement is that person thats been on the streets, many cases for decades, who you walk past and youre like, oh, i cant even imagine this person being able to be in housing. Cooper the hardcore homeless. Kanis the hardest core of the hardest core, who also happen to be at the highest risk for dying on the streets. Cooper becky kanis works for a group called community solutions, which created the 100,000 Homes Campaign. She says most of the 600,000 people who are homeless in the United States on any given night are on the streets for relatively short periods of time, usually less than a month. But its the chronic cases, people homeless for more than a year, who kanis says are most in need of help. Kanis theyre out of friends who will let them sleep on their couch. Theyre out of friends who will help them get a job. Theyve burned the bridges of the friends, or they just didnt have them in the first place. Cooper more than 60 of the chronically homeless have drug or alcohol addictions; 30 suffer from severe Mental Illness. Kanis says many of these people have such serious medical problems, it costs taxpayers more to leave them on the streets. How is it costing more . Kanis the inability to tend to your basic healthcare needs results in people on the streets ending up in Emergency Rooms and ending up in inpatient hospitalizations. And one night in the hospital is a whole months rent, on most places. Cooper so youre saying its more expensive to allow a chronically homeless person to live on the streets than it is to actually subsidize an apartment for them . Kanis yes, we are paying more as taxpayers to walk past that person on the street and do nothing than we would be paying to just give them an apartment. Cooper becky kanis began working for the 100,000 Homes Campaign after a career in the military. Shes a west point graduate and former army officer who worked with the special operations command. Do you think having a military background helps . Kanis i absolutely think it does; its bootsontheground intelligence that i think is one of the defining factors. Cooper to get that bootson theground intelligence, the 100,000 Homes Campaign encourages teams of volunteers and outreach workers to spend three nights looking for and interviewing the homeless. Last year, in may, we joined the teams in nashville as they headed out at 3 00 in the morning, searching in small patches of woods, under highway overpasses, and in caves where the homeless camp. Will hey, sorry to wake you. My names will. Cooper those who agreed to answer a series of survey questions would get a free bus pass in return. Will how many times have you been to the emergency room in the past three months . About five times. Cooper the questions are mainly about their health. Hiv or aids . Liver disease, cirrhosis . History of stroke or heat exhaustion . Cooper the information is used to decide who gets apartments first by giving priority to those at greatest risk of dying on the streets. And the risk is very real. Rocky top you will always be home to me. Cooper on the steps of this church, a man froze to death last year, one of 52 Homeless People who died in the city. Not everything the homeless told the survey teams was accurate. We checked and found some discrepancies. But we were also surprised by the candor of some of the people we met. Ernest thomas, who has a prosthetic leg, says he once hoped to work in a pharmacy, but ruined his job prospects by getting involved with drugs and crime. He was on parole when we spoke. Ernest thomas look at me, man. Im 39 years old, and i aint got nothing, you know what im saying . I dont even call my kids. You know, when i do call them, they be, like, dad, how you doing . I got to lie and fantasize oh, man, im straight. Cooper so, how do you think you. You ended up on the street . Thomas honest with you, man, i cant tell you. I really dont know. I messed up. Somewhere, i messed up, yeah. Cooper will connelly is director of the citys homelessness commission. He is the person who decided nashville should adopt the 100,000 Homes Campaigns approach. Hed already lined up a number of apartments for the people identified by the survey. And these are fully furnished apartments, ready to go, that these people can just move into . Will connelly yeah, yeah. Permanent housing, no strings attached, really. As long as they abide by that lease agreement, its. Its theirs. Cooper the apartments are paid for mostly by the federal government, which gives rental assistance subsidies to veterans and people with low income. The homeless are expected to contribute 30 of whatever income they get from things like parttime work, social security, or disability. Some apartments, like Robert Mcmurtrys, were provided by civicminded landlords willing to accept very little rent. Kirby davis donated 1 of his units and has encouraged other building owners to do the same. And whats the pushback youre getting . Kirby davis that they might harass my other residents, what are my other residents going to think . What kind of liability do we have . Cooper and. And what do you say to that . Davis none of them got to where they are not taking risk, so how about taking a risk for somebody else . Why dont we go around the room and introduce ourselves . Cooper no new tax dollars were required for nashvilles campaign to house the chronically homeless. A lot was achieved by getting people who dont normally work together, such as outreach workers and private landlords, to focus on the citys most desperate residents. What ill do is try to save two units, and well start with that and give it a try. Cooper to determine who should get apartments first, the homeless who were surveyed got ranked based on their medical risk factors. Robert mcmurtry finished high on the list, but there were some in even worse shape. So, who are some of the people youve. Youve identified . Connelly the most vulnerable is. His names frank. Cooper frank is Frank Clements, who spent more than 30 years in prison for robbery and other crimes. For him and a friend, home was now this park bench. Mcintyre where are you guys staying right now . Frank clements right here. Mcintyre right here . Right here. laughter mcintyre yeah. Cooper there was a bottle of mouthwash by his side, which is what alcoholics sometimes drink when they cant afford liquor. Frank was 66yearsold and said hed been treated for two types of cancer, pneumonia, and heart disease. Mcintyre how many times have you been to the emergency room in the past three months . Clements about three times. Cooper four days after he answered those questions, he was walking into his new apartment. This is your new home clements all right. My heart is full of gratitude. And you know, its awesome. I mean, you dont see people like this that help people out, you know. Cooper to try and ensure the homeless dont end up back on the streets, social workers check in on them regularly. Do you mind if i have a seat . Clements well, of course you can. Cooper Frank Clements needed more help than most. The morning after he got an apartment, we found him finishing off a bottle of whiskey. Clements; i aint no angel, im a damn drunk. laughs cooper in the weeks that followed, social workers tried to help frank get treatment. They even drove him to appointments. Hed get sober for a while, then start drinking again, then be filled with remorse. He was so disruptive when drunk, he had to be moved out of two different apartments. Some critics of the 100,000 Homes Campaign question whether scarce Housing Resources would be better spent on homeless kids or workingpoor families, rather than somebody like frank. Is it fair to give somebody an apartment whos made bad choices and is being irresponsible . Kanis i dont think fairness is the right way to look at it. What i would prefer to look at it is whats good for everybody. So, having somebody on the streets, fair or not fair, is costing us as a society, as taxpayers more than it would cost to have them in housing. Cooper it does seem like youre rewarding somebody, though, whos. You know, drinking or doing drugs or just being irresponsible. Kanis i see it as giving them a second chance. And most people, given that second chance, do something about those behaviors. Cooper so far, Robert Mcmurtry has made the most of his second chance. He made friends in his building, and three months after he got his own apartment, we were amazed to see him jogging in a nearby park. Researchers at the university of pennsylvania found that when Homeless People in philadelphia were given housing and support, more than 85 were still in housing two years later and were unlikely to become homeless again. Mcintyre hows it going . Everything went great this morning . Im so glad. You look awesome. Everywhere that i go. Cooper in september, homeless advocates in nashville held a luncheon for some of the people they had helped. In 100 days, they had gotten nearly 200 people into homes, and all but a handful were still in their apartments. But there werent enough apartments for everyone. Ernest thomas didnt get one. He ended up back in prison on a parole violation, and then homeless once again. For nashville and the other communities across the country that have joined the 100,000 Homes Campaign, getting 100,000 people off the streets is an important milestone. It doesnt solve the problem completely, but becky kanis says it proves that the problem can be solved, and that no one is unreachable. Kanis we have this amazing collection now of before pictures and after pictures that just captures the transformation thats possible once someones in housing. There is something thats really dehumanizing about living on the streets, in so many ways. 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Kroft every now and then, there are milestones and transitions worth noting, and one of them took place earlier this year the departure of jay leno from the tonight show. Its a part of a demographic shift that is beginning to affect millions of baby boomers who are being pushed aside to make way for a younger generation, the inevitable changing of the guard that also reflects a change in tastes, sensibilities and values. As one of the countrys most influential comedians, leno has been part of the National Conversation during four presidencies, and a central figure in one of the most Bizarre Television debacles of the past 20 years. We did our first interview with him back in 1992, when he was about to take over the tonight show. We did another with jay and his wife mavis for our story last january just days before his final broadcast. We talked about everything that had happened, what jay wants to do next, and his current state of mind. Jay leno i always tell new people in show business, i say, look, show business pays you a lot of money, because eventually youre going to get screwed. And when you get screwed, you will have this pile of money off to the side already. And they go, okay, okay. Okay, you ready . You ready . I got screwed. You got the pile of money . Yeah, im fine. I mean, thats the way it works. I mean, you know, thats. Thats the way these things are. Thats the way it happens. Kroft and no one knows it better than jay leno. And now, jay leno kroft hes been in show business for more than 40 years, earned hundreds of millions of dollars, and is more than familiar with getting screwed. He almost never complains about it, unless its in the form of a joke. Leno in fact, a couple of weeks ago, president obama called me, told me personally, if i like my current job, i can keep my current job. And i believed it. I believed it. laughter kroft on february 6, jay leno surrendered the tonight show he inherited from Johnny Carson 22 years ago. Like carson, he went out on top, though not under circumstances of his choosing. But hes survived in a cutthroat business largely on his own wits and talent. Its just you, right . You dont have an agent . You dont have a manager . Jay leno no, i dont have an agent or a manager, but the nice thing is i get the unfiltered truth this way. No one says, look, leno sucks. He stinks. We want him out of here. Jay, theyre very happy with you, but they want you to change. Well. Well, i get it right from the horses mouth, you know . And thats. Thats what i prefer. Did you paint that . Wow. Kroft he has never been the critics favorite, particularly in new york and los angeles, where some find him bland and unadventurous. Leno theres a controversy that wont go away this duck dynasty thing. Gays are very upset with duck dynasty. You know who is even more upset . Gay ducks. They are furious. Kroft but neither has leno gotten his due. Hes always had a feel for the audience in the middle of the country and outside the major urban areas. How did you do it . Leno well, i. I think its. Youre trying to appeal to the whole spectrum. If you look at the monologue, for every smart, insightful joke, theres a goofy joke and a silly joke and a fun joke, then a clever joke. Thats the trick, you try to have something for everybody. Kroft and its worked for you . Leno seems to. Kroft but theres been plenty of turbulence along the way. It began in 2004, when conan obrien, lenos young heir apparent, threatened to leave and go to fox if nbc didnt promise to give him the tonight show. The network agreed to what it hoped would be an orderly Succession Plan in which conan would replace leno in 2009. Leno was one of the last people to find out. Leno first time, i got blindsided. Kroft what did they tell you . Leno oh, youre out. You got. You know, going to go with this and ba, ba, ba. Oh, okay. And i went, okay. Kroft youre out. Youre fired. You got four more years. Leno yeah, that was basically it, sure. Kroft did you ask them why they had decided to do this . Leno no. Kroft you didnt . Leno no. I mean, why . No. laughs kroft no, i dont mean like. Leno why . Kroft no, i mean leno why are you doing this . Kroft no, i mean, kind of like, okay, so why . Whats the. Leno you know, you have a girl says. Kroft . Logic behind this . Leno . I dont want to see you anymore. Why . You know . She doesnt want to see you anymore, okay . Kroft they didnt say that. They said, we. We dont want to see you after four more years. Leno youre fired four years from right now. laughs i mean, isnt that hilarious . I mean, its. Its got. Whats more showbizzy than that . Whats the funny. Youre fired four years from now. Get out in four years. laughs kroft but it wasnt funny for nbc four years later when it was time for leno to go. He was still a strong number one, and very much in demand. Desperate to keep him from going to another network, and saddled with disastrous primetime ratings, the network offered him a 10 00 time slot on its schedule. Leno people asking, oh, what are you going to do after the last show . Are you going to go on vacation . That kind of stuff. Actually, im going to go to a secluded spot where no one can find me nbc primetime. laughter of course, were not really leaving; were coming back at 10 00 in september. Ill admit its a gamble, its a gamble. Im betting everything that nbc will still be around in three months. That is not a given. Its the jay leno show. Kroft lenos 10 00 show tanked, and so did the ratings of the tonight show with conan obrien, which dropped out of first place. Nbc panicked when the networks affiliates began clamoring for lenos return to his 11 30 time slot, and nbc agreed. Leno i said, sure. I said at the time i was going to do a half hour. And i believe conan was going to follow later. He didnt want to do that. He quit. And so they gave me the show back. Kroft were you surprised . Leno stunned. laughs oh, all right. All right, fine. Yes. I. I said, really . Kroft what was supposed to be an orderly transition instead turned into an unscripted reality show that played out every night on Late Night Television conan obrien hosting the tonight show has been the fulfillment of a lifelong dream for me. And i just want to say to the kids out there watching you can do anything you want in life. Unless jay leno wants to do it, too. laughter kroft you were the bad guy. You were portrayed as being the bad guy. Leno yeah, i. I didnt quite understand that. But i never chose to answer any of those things or make fun of any of the other people involved. Its. Its not my way, and you just go and you be a comedian and you do what you do. Mavis leno im sorry. This is a subject im very, very angry about to this day. Kroft jays wife mavis was much more upset than her husband. Mavis leno it made me angry because there was this perception that, for some reason, jay had decided to give up the show. It was like he gave the show to conan and then he took it back. That was not what happened, okay . That was not what happened. Kroft there were a lot of people that felt you should have just. A lot of people, including conan. Leno yeah. Kroft . Felt that you just should have gone off to. To abc or to fox or to someplace else and not. Leno well, you know something . Nbc is my home. Dont forget, back in 2004, i went into work one day and, hey, you lost your show. What . So, suddenly, it was taken from me, and then they said, we want to give it back to you. I said, fine. Kroft did you try and talk nbc into getting rid of conan so you could come back . Leno no, never. I never in my wildest dreams thought that would happen, never. It never occurred to me that they asked me to come back. I thought he would do fine. Theres no place like home. Kroft on march 1, 2010, jay leno was back behind the desk at the tonight show, and almost immediately back in first place. Leno well, Health Officials are now warning that pot smoking can cause apathy. In fact, a recent poll shows that most pot smokers couldnt care less. Kroft four years later, the tonight show was still number one in a crowded, highly competitive field that included his chief rival, david letterman, jimmy kimmel, conan, and stephen colbert. And once again, nbc pushed leno out in favor of a younger talent, this time jimmy fallon. You would have liked to have stayed . Leno its not my decision. And i think i probably would have stayed if we didnt have an extremely qualified young guy ready to jump in. If they said, look, youre fired. We dont know who were going to get. We dont know what were going to put in there. But anybody but you, we just want you out of. I would be hurt and offended. But this makes perfect sense to me. I understand this. Kroft you would have preferred to stay . Leno well, its always nice to keep working. Sure, it is. Sure, it is. But am i extremely grateful . Yeah. Do i understand the circumstance . Yes, of course. Kroft this is the part i dont understand. I mean, youre still number one. Leno well, i think, because you have talented people will only wait so long before they get other opportunities. And you dont want to lose that opportunity. That makes sense to me. And i thought jimmys been extremely gracious and polite. Kroft you said all of the same things, exactly, about conan. Leno huh . Did i say the same things . Yeah. Well, maybe i did, yeah. Well, well see what happens. laughs kroft you think you might get a call two years from now and say. Leno no. Kroft . You come back . Leno no, this is a lot different situation. Boring auction and dinner set for tuesday, maybe. Kroft this time, leno said, he saw the handwriting on the wall. There is a generational and technological shift afoot with twitter and social media that he finds harder to relate to. Leno i get it, you know . Johnny was 66 when he left. I would be 64 when i leave. And thats about right, you know . I really like jimmy fallon. I think hes terrific. You know, when i see him do a dance number with, you know, Justin Timberlake or somebody, i go, i cant do that. I think, after a while, you know, im. Im not going to be that up on the latest Justin Bieber record when youre 64. You know, whatever it might be, so. Kroft do you know what Justin Biebers latest song is . Leno no, i know you do, but i. No, i dont. laughs kroft do you get the sense, or do you have a feeling now, that things are starting to wind down . Has it kind of like sunk in . Leno oh, yeah. I knew a couple of years ago things where winding down. Sure, but this is my second time doing this, so this is my second time winding down, so you get quite used to it. Yeah. How about that snowstorm back east . New england whiter than a paula deen christmas. Kroft the staff worked on his latest farewell show, but what everyone wanted to know was what jay leno was going to do with himself when all of this was over. He says he expects to spend more time with mavis and puttering around his garages, which occupy two large hangers at the Burbank Airport and house one of the countrys best collections of classic cars and motorcycles. Most of them have been restored by leno and a small staff, and each car and motorcycle has its own unique story. Do you drive any of these cars . Leno no, theyre all. Every car here is on the road. Every car here is licensed, and you can hop in and go for a ride in any one of them. Kroft this batterypowered car goes back to the turn of the last century. Wow, like a tesla. Leno there were charging stations all over new york, 1907, 1908, 1909. Kroft leno does a weekly webcast out of the garage, and the day we were there, tim allen, another carobsessed comedian, dropped by for the taping and a tour. Id been there 22 years ago. Its still lenos only known outside interest. Its much. Much bigger now. Its a much bigger garage. But are you doing anything else . I mean, have you. In the last 22 years, have you, like, branched out . Leno you mean, like the symphony or something. . Kroft theres been no emotional growth . Is that your. What youre telling me . Leno no emotional growth . How do you mean . In what terms . laughter kroft i mean. Tim allen ooh, look at the time. Maybe ill step over here. laughter kroft you havent branched out. You havent, like, wanted to do new things with your time, with your life . Leno well, i. Each. Each project is a new thing. I mean, it depends. Allen this is getting uncomfortable. Leno im not sure what that means. Kroft grand as all of this is, no one really believes its going to fill the void left by the tonight show. And leno acknowledged that there are no shortage of opportunities for him. Youre a workaholic. What are you going to do . Leno i dont know what ill do. Will i do another late night show to go against any of these people . No. No, that. No. You cant recreate what we had at the tonight show. That was a 22year moment in time. It was fantastic. And i loved it. Would i like to do things with. Oh, i dont know, History Channel . Yeah, i think that would be fun to do. Kroft so youre going to the History Channel . Can we go with that . Leno no, no, no, im not going to the History Channel. laughs but i really like being a comedian. I mean, i like going on the road. Its really fun making people laugh. Kroft last year, leno says he did more than 100 standup performances, in addition to his tonight show duties, and that doesnt include his regular gig at the Hermosa Beach comedy and magic club. Leno ive been here every sunday night since 1978. So its probably safe to assume this will continue. You know, this club is good because. Kroft do you have a contract . Leno no, no, theres no contract. Its a real audience to test what works and in. In a real situation. Oh, im on right now. Whats more fun . And when its successful, its very rewarding. There really is no greater satisfaction than the adulation and respect of other human beings. Hows the crowd . Good crowd. Leno i get that every day. Every day, someone goes applause well, thank you very much. Well, thank you, thank you. Most people dont get that in their jobs, you know . Every day, i walk out and i get that on my job, and its. Its very rewarding. And i dont take it for granted and its a lot of fun. Here he is right now. Mr. Jay leno, everybody. Jay leno leno. Steve kroft was there at the beginning and the end of jay lenos career. Has jay leno changed . Go to 60minutesovertime. Com. Sponsored by pfizer. [ female announcer ] hands were made for playing. Legs, for crossing. Feet. Splashing. Better things than the joint pain and swelling of moderate to severe rheumatoid arthritis. If youre trying to manage your ra, now may be the time to ask about xeljanz. Xeljanz tofacitinib is a small pill, not an injection or infusion, for adults with moderate to severe ra for whom methotrexate did not work well. Xeljanz can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers have happened in patients taking xeljanz. Dont start xeljanz if you have any infection, unless ok with your doctor. Tears in the stomach or intestines, low blood cell counts and higher liver tests and cholesterol levels have happened. 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