It is. Odonnell Valerie Jarrett is the only white house advisor who, at the end of the day, regularly joins the president in the private residence. She says she keeps the personal and political separate, but she earned the unflattering nickname, nightstalker, because some at the white house felt she could influence his thinking. Morley safer its harvest time in the Great Vineyards of italy, none greater than the 5,000 acres farmed by the antinori family. They have been in the same line of work for six centuries now. The antioris make wine and the familys story reads like something a wine critic might write about their product complex, stylish, sophisticated, with a bouquet both elegant and earthy. Im lesley stahl. Im scott pelley. Im bill whitaker. Im norah odonnell. Im steve kroft. Those stories, including one of Morley Safers favorites, as we remember our friend on this edition of 60 minutes. Cbs money watch update sponsored by quijano good evening. President obama visits vietnam and japan this week hoping to build Stronger Economic ties. On tuesday, euro zone finance ministers will discuss a possible bailout loan package for greece. And a guitar given to Elvis Pressley by his father sold for 334,000 last night. Im elaine quijano, cbs news. Unless you have allergies. Flonase is the first and only nasal spray approved to relieve both itchy, watery eyes and congestion. No other nasal allergy spray can say that. Go ahead, embrace those beautiful moments. Flonase changes everything. Jake reese, day to feel alive jake reese, day to feel alive jake reese, day to feel alive steve kroft we lost morley safer early thursday morning. He slipped away barely a week after he announced his retirement from 60 minutes. All of us here are saddened by the loss of a friend, colleague and mentor. But we are grateful that morley was able to watch last sundays tribute with his family and to be reminded of how much we admired and loved him. Well rebroadcast that hourlong look at morleys life and career on a future sunday. Tonight, well salute morley with a toast one of his favorite pieces, shot in his favorite country, about one of his favorite things. This is how morley told the story back in 2008. Morely safer as anyone whos sat through a thanksgiving dinner can tell you, families can drive you nuts. And if youre bold or crazy enough to go into business together, beware. A recent study found only 15 of Family Businesses survive past the second generation, meaning if the whims of the marketplace dont get you, familial rivalry or plain oldfashioned greed will, which makes the antinori family of italy all the more remarkable. Theyve been in the same line of work for six centuries now. The antinoris make wine. And the family story reads like something a wine critic might write about their product complex, stylish, sophisticated, with a bouquet both elegant and earthy. Its harvest time in the Great Vineyards of italy, none greater than the 5,000 acres farmed by the antinori family. Until recently, italian business, especially the wine business, was pretty much for men only. Albiera antinori girls, normally, in families like ours ended up to be married, possibly happily, and thats it. No. No need to work. Safer but Albiera Antinori and her two sisters are the first women in 26 generations to play a major role in the family enterprise. Allegra antinori Allegra Antinori i feel part of the land, you know . I think im owned by that land. Its something very, very strong. Safer from the fields to the cellars, youll find the antinori women at work, hoping, as vintners have for centuries, that this year, the balance of sun, soil and rain will produce a vintage for the ages. People use these wonderful words to describe the taste theres personality. What else . Alessia antinori the elegance. The wine has to be elegant. And so you say, how do you describe elegance . You cant. Its like an elegant woman. How do you describe her . Its personal. Safer you know it when you see it. Alessia antinori exactly. Exactly. Safer their domain stretches from the legendary vineyards of tuscany and umbria, to their property in Californias Napa valley. Antinori is perhaps the oldest Family Business on earth. Piero antinori the first document which we have which proves that an ancestor of mine was involved in the Wine Production dates back to 1385. Safer the patriarch, and still the godfather, is piero antinori. Hes 70, and bears the noble title of marchese. He works behind an antique desk that dates to the renaissance. Piero antinori when we have to take some decision regarding the family, we have them here. And my father used to do the same thing. Safer and in his birthplace, florence, the city that gave birth to the renaissance, that flowering of art, science and the good life, he leads a visitor to a small window to the past. It looks like a confessional. Hundreds of years ago, an antinori cellar master sat waiting for customers to knock. Piero antinori the cellar master would pass a bottle of chianti wine and would receive the money back. This has been in operation until a couple of centuries ago. Safer recent history, by your standard. Piero antinori yes. laughs recent. Safer for 623 years, various antinori have kept the business going, despite war, plague, political intrigue, and the shifting tastes of consumers. The family tree shows a bumper crop of antinori who made their mark, not just in wine, but in every aspect of italian life. Piero antinori in business, in politics, in church. Safer so the family always made sure back then that all bets were covered, correct . Piero antinori i think it was a bit the concept, yes. Safer there were poets and priests, rogues and rascals. In 1576, francesco dmedici, the grand duke of tuscany, had one antinori strangled for his undue attentions to bianca, the dukes wife. In the 1700s, another antinori cultivated pope clement xii as an important customer. The pontiff, who commissioned the building of romes trevi fountain, decided to throw a few coins the antinoris way. Piero antinori we have some correspondence saying that the pope used to like very much the wines of our family, and he wanted to order more. Safer a pretty good recommendation, correct, especially in the 18th century . Piero antinori yes, no doubt. Safer but the Family History lining the shelves of the marcheses office says precious little about the wives and daughters in the antinori family tree a fact not lost on albiera, allegra and alessia. Are there any interesting women in those 26 generations . Albiera antinori im sure there are some women. But women in history, in the past time, even. If unless they were special, they were not. Alessia antinori considered. Allegra antinori yes, exactly. Albiera antinori to be mentioned. Alessia antinori its true. Because when i went to Agricultural University in northern italy, in milan, we were two women. And the rest were all men. Very lucky. Safer for six centuries, command of the antinori empire was passed from father to son. But with no male heir, the marchese, some years ago, sold a major stake in the business to whitbread, a British Company whose fortune was based on beer making. Piero antinori it was the period when i didnt know exactly if my daughters would be interested or not to be involved in the business, and so for me, that was a way to guarantee a continuity also to the company. Safer but the partnership produced mainly grapes of wrath it was a vintage clash between the foaming suds of quick profits and piero insisting hed sell no wine before its time. This marriage of inconvenience ended when piero bought back the shares, keeping antinori all in the family. Albiera antinori i think he saw us interested and said, why not . Whats wrong with girls . And so took his chance of expecting his daughters to fall in love with the business. Safer and that they did. Now, all three travel the countryside and the world, helping to grow, promote and market antinori wines. They sold 17 million bottles last year, 200 million worth, making a healthy profit. And though the business now involves spreadsheets and science, the basics still come, as they have for centuries, from down on the farm. Even with all this tradition and history and everything else, the family still regards itself as farmers. Yes . Albiera antinori yes, absolutely. This is our origin. Still, now, in modern times, we are basically. Basically farmers. Alessia antinori we appreciate the nature and the countryside more than the glamorous city life. Safer youre three country bumpkins. Albiera antinori yes. laughs allessia antinori exactly. Safer well, hardly. Piero antinori cheers. Safer elegance is the rule at Palazzo Antinori, the family home in florence. Since the familys wines must be sampled often to ensure quality control, every lunch at the palazzo is a kind of business lunch. The marchese, his wife, francesca, their daughters and sonsin law and the grandchildren all may have a say. Any family arguments at this table . laughter come on, secrets. I want secrets revealed here. Piero antinori yes. Sometimes, we start with an argument. But after three or four glasses of wine. laughter allessia antinori everything disappears. Piero antinori this palazzo has been in the family since 1506. Both the headquarters of the business and also the residence of the family. Safer when an antinori wishes to seek solace or a place for quiet contemplation, or even a place to confess his earthly sins, its hardly difficult. Just leave the Palazzo Antinori and, traffic notwithstanding, cross the piazza antinori, and within minutes, arrive at the capella antinori, the antinori family chapel where they might visit the tomb of alessandro antinori, one of the founders of the dynasty. And perhaps a nod to any number of antinoris buried beneath the chapel floor. If wealth and history can buy you one lasting pleasure, it is convenience. Marchese antinori, for instance, commutes by air to his most famous vineyard, tignanello, in the tuscan countryside south of florence. Here, the family developed the red wines for which theyre famous. At his villa here, this is the view the marchese wakes up to every morning. Piero antinori the vineyards and the landscape. Safer but as the experience with the british partners showed, its no business for the impatient or for those who have a taste for the quick buck. Ten years can pass from the time a new vine is planted until its wine comes to market. Piero antinori you have to be patient. And to wait until the wine is good enough, the vines are old enough to produce a good wine. Safer tignanello is but one of the antinori postcardperfect estates. Castella della sala is another, halfway between rome and florence. Here, albiera went to work after high school, living at the familys grand 14thcentury castle, but learning the wine trade from the bottom up, as a field hand in the vineyards. You got your hands dirty. Albiera antinori yes, i got my hands dirty. It was the first place where i really started to understand what was going on, i mean, the whole process. Safer but its not all dirt and business. Theres the other estate, guado al tasso, on the tuscan coast. Allegra antinori i did my own stable, my own training track in the middle of the vineyards. And i go riding every morning. Its beautiful. I love it. Safer its a very good life you describe. Are you spoiled . Allegra antinori yes. I am very spoiled. But i think we appreciate what we have. Safer and they are constantly reminded that, in this line of work, nature always has the last word. The antinori found the 2002 crop wasnt up to par, and didnt bother bottling most of it. Albiera antinori you cannot force things. You cannot force nature. If you have a bad vintage, tough luck. Albiera antinori we can wake it up for a second before we put it back to sleep. Safer every few months, they check on the progress of their wine, fast asleep in the cellars. The verdict let it sleep a while longer. Albiera antinori you see, its still very young, very rough. Very. It has to stay in there for a little while. Safer another family meal, another bottle of wine or two. Every once in a while, someone offers to buy them out. But this farmer and his daughters politely decline, on the theory that if family ownership was good enough in 1385, its good enough today. Piero antinori it is really our intention to remain a Family Business because we think that this is the best solution for us. Safer for at least another 500 years . Piero antinori at least. laughs to see last weeks morley safer tribute, as well as additional interviews and classic safer stories, go to 60minutesovertime. Com. Sponsored by lyrica. Then the chronic, widespread pain drained my energy. My doctor said moving more helps ease fibromyalgia pain. He also prescribed lyrica. Fibromyalgia is thought to be the result of overactive nerves. Lyrica is believed to calm these nerves. For some, lyrica can significantly relieve fibromyalgia pain and improve function, so i feel better. Lyrica may cause serious allergic reactions or suicidal thoughts or actions. Tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. Or swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling, or blurry vision. 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But she got caught and became a government informant in one of the biggest Insider Trading busts in american history. Roomy khan helped the government bring down one of the Worlds Largest hedge funds, the galleon group, and send its billionaire cofounder, Raj Rajaratnam, to prison. Roomy khans story reveals how she got involved in Insider Trading, and how easy it was to do. Roomy khan you are pushed and pushed to get this information. You know, you get the high fives after the trade. I was sent flowers after one of the trades. Big thank you, a huge bouquet. Thank you. Whitaker it sounds like you guys are in a bubble trading all this information while we sit and look at it and say, well, thats breaking the law. Khan absolutely, that we were breaking the law. Whitaker breaking the law by obtaining confidential information from friends in silicon valley, connected to google and polycom and other tech companies. In two years, roomy khan made 1. 5 million from illegal trades alone; her friends and associates made an additional 25 million off her tips, investigators found. It was easy money. Khan it is like if you are taking an exam tomorrow and somebody hands you whats going to be on the test, its easy to get an a . Whitaker roomy khan shared her tips with selfmade billionaire, Raj Rajaratnam, who built one of the Biggest Hedge Funds in the world, the 7 billion galleon group. Federal authorities said rajaratnam made more than 72 million from illegal tips from roomy khan and other sources. The two met back in the 1990s, when she was working at intel as a product marketer and had access to proprietary company information. Rajaratnam tapped her for the inside information, so he could trade on it. Khan and he started asking me about hows business . And i used to have access to intels top customer microprocessor bookings. I started giving him this information. Whitaker so you started feeding him khan so i started feeding whitaker inside information from intel . Khan absolutely. Absolutely. Whitaker roomy khan was so brazen, she used intels fax machine to send him confidential data about product demand. She says rajaratnam referred to inside information as the edge. She was such a good inside source, she said he offered her money to stay at intel. Khan he said, listen, ill off ill give you, you know, 100,000 just to stay there. I dont remember the number he offered me. But he did offer me money to just stay there and keep giving me information. Whitaker and keep khan yes. And i said, no, theres no way. Whitaker feeding him this inside information. Roomy khan came to the United States from delhi, india on a scholarship at age 23. She earned three graduate degrees before joining intel. But she longed for the action of wall street and set out to build her own fortune. At the height of her success, she says she was worth 50 million. Khan moved into this 10 million gated estate in the heart of silicon valley. She was living the life she wanted, where money was no object. Khan jewelry, painting. I mean, anything that you can think of, you know . Whitaker you had it all . Khan we had it all, yes. Whitaker the high life . Khan absolutely. Whitaker sort of life we see in the movies with the hedge fund investors. Khan probably. Probably. Whitaker one purchase from that time still makes her light up. Khan the 17carat famous diamond ring whitaker the famous diamond ring. Khan yeah. Whitaker cost how much . Khan i think its 1. 7 million. Whitaker she explained to us just how the biggest money could be made when the predictions of wall street were at odds with the inside information. Khan the most money you make is when your analysis is totally in an opposite to what your edge is telling you. Whitaker the inside information . Khan absolutely. If you have if you have a really great source. Whitaker roomy khan had a really good source who knew what was going on inside google a friend who worked for a firm that prepared Googles Press releases and who told her the companys quarterly income would be lower than expected. Khan and she told me they were going to miss the quarter. Whitaker and you made money off of it. Khan i did. I made 500,000. Whitaker she shared the information with galleon chief, Raj Rajaratnam, who made 8 million betting against google just before the price dropped. And youre making good money, but hes making far more. Whats your motivation . Khan well, i had access to raj, so i had that access to the billionaire Biggest Hedge Fund on wall street. And that was worth a lot to me. Whitaker her relationship with the Hedge Fund Titan would be worth a lot to the government too. Roomy khan didnt know the securities and Exchange Commission the s. E. C. Had launched an investigation into rajaratnam. Former s. E. C. Attorney Andrew Michaelson was tracking his texts and trades. Andrew michaelson we did see in mr. Rajaratnams instant messages communications where he would say, a. M. D. s revenues are going to be x, before a. M. D. Itself announced them. And they were accurate. Mr. Rajaratnams predictions were were accurate. Whitaker michaelson joined the s. E. C. In 2006 and this was one of his first cases. He remembers combing through stacks and stacks of galleons trading and phone records, instant messages and emails. How many documents are we talking about . Michaelson hundreds of thousands. Whitaker hundreds of thousands. Michaelson sometimes you would have to sit there with a ruler to make sure that youre getting exactly who is talking, what phone number is calling which phone number at at at what time. Whitaker so youre connecting the dots. Michaelson were connecting the dots. And then the next dot to connect is, well, wheres Raj Rajaratnam getting this information . Whitaker finally, after six months of searching, they found the needle in the haystack in a single, careless instant message from roomy khan. Khan i texted him. And i said, dont buy polycom. Whitaker and in writing . Khan and then in it was a text message. Whitaker in electronic writing . Khan yes. And then and it said, until i check the guidance. Whitaker youre saying, dont, dont do anything until i khan yeah, until i get my information. Whitaker call my inside guy and get this inside information. Khan yes. Yes. Right. Whitaker it was the piece of evidence fbi special agent b. J. Kang thought he could use to turn roomy khan into an informant against rajaratnam. B. J. Kang she was an insider. She knew all the players. She worked for galleon. She knew raj. Whitaker he paid her a visit in november 2007. Khan two people knocked on my door and they flashed their badge and my heart sank because i just was like, oh my god. Kang she knew we were we were dead serious. She knew why we were there. And she knew this wasnt going to go away. Whitaker kang showed her the polycom message she had sent to rajaratnam. Khan and when they showed me this text message i knew this was over because it was very easy for them to connect me to the executive at polycom. Whitaker she knew she had to cooperate. Starting in late 2007, she began to educate the feds on the hidden world of some of wall streets biggest players. Kang we didnt have a very good understanding of what the hedge funds were doing, right . Um whitaker so you didnt understand kang no. Whitaker completely what you had. Kang absolutely not. She kind of drew the drew out the roadmap for us to to to say, this is what theyre doing. This is how theyre doing it. This is the language that they use. And and here you go. Whitaker as part of her cooperation, she also reluctantly agreed to secretly record her phone conversations with her colleagues. And turned out to be a good liar. Jonathan streeter and turned out to be a good liar. There are some people who cant do that very well, who cant get on the phone and lie to their former colleague on the phone and you know, thats she was good at that. Whitaker but jonathan streeter, a former assistant u. S. Attorney, who was the trial counsel on the case, said roomy khan also lied to federal investigators. Streeter roomy had multiple instances, one after another where she had withheld information while she was cooperating or she had had her gardener get a cell phone so that she could have secret phone calls with people. Whitaker why would you khan i i i dont whitaker do this . Khan know. I was just so i just couldnt i just couldnt tell on all these people. Streeter i told her that if she didnt tell us the truth about this, i was going to make it my mission in life that she would spend a long time in jail. Whitaker ultimately, roomy khan gave prosecutors what they wanted enough evidence of Insider Trading that a judge allowed the government to tap rajaratnams cell phone. The investigation was the first time wiretaps were used in a significant way in an Insider Trading case. Streeter without roomy, you dont have a wiretap, and without a wiretap, you dont have a whole lot of other evidence. What you have is some circumstantial evidence that rajaratnam made some welltimed trades and that he spoke to some people before he made those trades, but you dont have him on the phone, talking about inside information. Whitaker in one wiretap, rajaratnam bragged to a colleague about getting valuable inside information from a Goldman Sachs board member, just two minutes before the market closed. Raj rajaratnam wire i got a call at 3 58, right . Colleague wire yeah. Rajaratnam wire saying something good might happen to goldman. Whitaker that something good was a 5 billion investment in goldman by Warren Buffett that hadnt yet been announced to the public. Rajaratnams hedge fund purchased more than 200,000 shares in those last minutes and made 840,000. In another wiretap, he told a different colleague that he had gotten inside information goldmans earnings would be below market expectations. Rajaratnam wire i heard yesterday from somebody whos on the board of Goldman Sachs, that they are gonna lose 2 per share. The street has them making 2. 50. Streeter that was quite possibly my favorite of the wiretap calls. So hes admitting he has a piece of inside information from a board member thats clearly different from what the rest of the world thinks. Right there, ticking off the elements of Insider Trading, hes given us a bunch of them. Whitaker and in october 2009, u. S. Attorney Preet Bharara announced the arrests of Raj Rajaratnam and his colleagues. Preet bharara they may have been privy to a lot of confidential information. But there was one secret they did not know and that is that we were listening. Whitaker 32 people were charged criminally or civilly in the case including members of rajs inner circle. Many were members of the Business Elite of south asian descent, including anil kumar and rajat gupta, the former head of the Mckinsey Consulting group. The courts imposed more than 250 million in fines and penalties. In 2011, rajaratnam was convicted of Insider Trading crimes and sentenced to 11 years in prison. Anita raghavan one of the astonishing things is that raj was not caught earlier. He would boast about how he got inside information from corporate sources. Whitaker Anita Raghavan is a journalist who introduced us to roomy khan. She wrote a book, about the galleon hedge fund, the billionaires apprentice that tracked the downfall of roomy khan and her colleagues. What did the fall do to roomy . Raghavan everyone in the Trading Community distanced themselves from roomy. They didnt want to have anything to do with her. She was the rat, she was the cooperator. Whitaker she was a pariah. Raghavan she was a pariah. Whitaker though she cooperated, roomy khan was sentenced to a year in prison for Insider Trading and for obstruction of justice, because of her lies. Released in 2014, she now lives in florida where she is struggling to rebuild her life. Shes been unable to find a job. For all her early success, her advanced degrees, her multi Million Dollar fortune, roomy khan says she allowed her ambition to get the better of her. Khan as i look back, you know, im aghast at the choices i made. I had all the right the breaks. I was so fortunate. I landed in the United States. I was very fortunate and then i threw it all away. Dont bring that mess around here, evan whoo dont do it. You dare. Whoo i dont think so [ sighs ] its okay, big fella. Were gonna get through this together. 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Thats why our members love aarp the magazine. It celebrates you. With fun and provocative content, from lifestyle and entertainment to indepth reporting. And its just one of the great benefits of membership. If you dont think this is right for me when you think aarp, then you dont know aarp. Get to know us at aarp. Org possibilities your produce staysfresh fresh up to 80 longer. Keeping it nearly as fresh as the day it was picked. The new fresh works produce saver from rubbermaid. Norah odonnell rarely does one person in the white house have the influence that Valerie Jarrett has had. She holds the job title of Senior Advisor, but shes more than that. The president has said shes his best friend. She told us shes involved in nearly every decision thats made, including the choice of his chief of staff or who should sit on the u. S. Supreme court. And that has sometimes caused friction in a white house that prides itself as being nodrama. As the president enters his final months in office, we talked with Valerie Jarrett about her role, the president s legacy, and one of the biggest pieces of Unfinished Business on their agenda the future of the u. S. Supreme court. President barack obama today, i am nominating chief judge Merrick Brian Garland to join the Supreme Court. Odonnell valerie, this is probably one of the last big fights of the president s term in office. And he cant even get Senate Republicans to give him a hearing. Most republicans wont even meet with judge garland. Does that Say Something about president obamas inability to reach across the aisle . To have friends on the other side . Valerie jarrett absolutely not. I dont think this is about friendship. This is about politics. I think the republicans have made the political determination that in this election year, in this very toxic election year, i would add, that its in their political advantage not to do so. Odonnell but in two terms, seven years, why hasnt the president been able to find a republican that he can call up and say, help me out on this . Does he have any republican friends . Jarrett oh, absolutely. He can call them. And they want to help him out. But the fact of the matter is their leader wont let them. Odonnell their leader in the senate, republican mitch mcconnell, has told president obama there will be no hearing on his Supreme Court choice. Despite the fact that garland was confirmed to the d. C. Circuit considered the Second Highest Court in the land back in 1997 with the majority of Senate Republicans voting for him. Isnt that part of the president s job . Is to convince people on the opposite side to do Something Like this . To get a judge up on the Supreme Court . Jarrett well, the way you convince them is to try to put enough political pressure on them so they will do the right thing. And i think that that momentum is building from the American People, and thats where the pressure will come. Odonnell so thats the strategy . Jarrett that is the strategy. Odonnell so since the president doesnt have a personal relationship with republicans, instead youre going to go to the American People jarrett this isnt the matter. I i have to odonnell and put political pressure on them . Its a campaign . Its a Political Campaign jarrett i have to interrupt you to say this is not about personal relationships. It has absolutely nothing to do with whether or not theyre chummy. This has to do with whether or not theyve made the political calculus, the raw political calculus that it is in their selfinterest not to give a hearing to judge garland. When they decide odonnell does the president jarrett when they decide it is in their selfinterest, theyll do it. And it is our job, yes, to launch a campaign to encourage them to do their jobs. Just as the president did his. Nothing to do with personality. Nothing to do with schmoozing. Nothing to do with whether or not theyre buddies. This is raw politics, from their perspective. And has nothing to do with what is been in the best interest of the American People. Odonnell isnt politics about schmoozing, though . And isnt politics about friendship . Jarrett no, politics is about figuring out what you think. This kind of politics is about trying to fi is about figuring out what you think you have to do to get reelected. And what we have seen, norah, time and time again, is the republicans decide they cant even come to the white house and go through a receiving line. They cant even show up at a state dinner, because theyre afraid of about what the consequences will be if they do. Odonnell maybe they dont feel welcome here. Jarrett oh, thats not true. I and i think if you ask them, they will say, absolutely. Theyre more than welcome. Theyre more than invited. This has absolutely nothing, nothing to do with the president s willingness to reach out to them. He has, time and time again. And he has on the Supreme Court. Odonnell but valerie, its front page news when the republicans come here to the white house. That that shouldnt be front page news. Jarrett no, they should be here all the time. And if they would accept the invitations, they would be here all the time. I want to completely odonnell this has nothing to do with with the president s style of leadership, or his ability to reach across the aisle . Jarrett i want to completely debunk odonnell its all the republicans fault . Jarrett i want to completely debunk this notion that if the president were just simply more friendly and more outgoing and schmooze that this would change. This is simply about the republicans making the political calculus that to be friendly to the white house is not in their interest. Thats the decision that they made when he was first elected. And theyve stayed steadfastly true to that for the last seven years, to the detriment of the American People. Odonnell theres no stronger defender of the president than Valerie Jarrett. And in a town where power and influence are measured by proximity, few are closer to the president. You can measure her importance by her address in the white house west wing. Who else has had this office . Jarrett the two that i am aware of are Hillary Clinton and karl rove. Odonnell theres a lot of history then in this office. Jarrett there is a lot of history and ive tried to make a little bit of my own. Odonnell part of that history comes from Valerie Jarretts unique position in the white house. Its different from karl roves. He was known as president bushs brain and served as his political advisor. Shes got at least three formal job titles, including Senior Advisor. But perhaps the most important part of her Job Description is the role that doesnt get listed being first friend. You are a Senior Advisor to the president , but you are also his best friend. I cant think of another example in a white house where theres been that kind of relationship since Bobby Kennedy and president kennedy. Its a very unusual role. Jarrett it is. Odonnell and doesnt that create a conflict . Jarrett no, not at all. Not at all. I think it enables me to do my job really well. And everybody comes to the table with different strengths and different perspectives. And so the fact that ive known the president and the first lady for 25 years gives me a perspective that maybe others dont have. Odonnell and a relationship that none of his other advisors has either. Shes probably the only white house aide who calls the president barack when theyre off the clock. She also told us, she considers the president and first lady the siblings she never had. Valerie jarrett grew up an only child in an extraordinary family, one of the most prominent African American families in chicago. Her grandfather, robert taylor, built much of chicagos public housing. Her father, a doctor, helped integrate st. Lukes hospital. And her mother has a chicago street named after her for her work in Early Childhood education. Jarrett, a lawyer, made a name for herself in chicago politics working for mayor richard m. Daley. And thats where she met Michelle Obama, who had recently graduated from harvard law and was looking for a job. Jarrett i invited her in for an interview. It was supposed to be 20 minutes. It lasted about an hour and a half. About halfway through, i realized i was no longer interviewing her and she was now interviewing me. So a few days later i called her up and i said, well, what do you think . We would love to have you. And she said, well, my fiance doesnt actually think its such a great idea. And i said, what . And so she said, yeah, thats right. So she said, but i really am interested. So would you be willing to have dinner with us . Odonnell at that dinner, she met barack obama for the very first time. They shared an instant connection, in part shaped by a world view by childhoods spent abroad. President obama was born in hawaii and lived for four years in indonesia. Valerie jarrett was born in iran, and spent the first five years of her life there, where her physician father went to help start a new hospital. Jarrett that bond that we had from having lived in cultures very different than our own and how that shaped our view of the world was a bond that we had that day. And i remember being struck by how talented the two of them were. Odonnell who impressed you more . Jarrett they both impressed me. They impressed me individually and they impressed me as a couple. Odonnell Michelle Obama took the job with the city and that began a quartercentury long friendship. When did they buy this house . Odonnell the obamas bought a home on the same street as jarretts family. So your house is, like, a block away from the president s house . Jarret a block away, yes, indeed. Odonnell shes the only white house advisor who at the end of the day regularly joins the president in the private residence. She says she keeps the personal and political separate, but she earned the unflattering nickname, nightstalker, because some at the white house felt she could influence his thinking. You have clashed with robert gibbs about the first lady. Hes gone jarrett oh my gosh. Thats nearly seven years ago, norah. Youre going back to ancient history laughs odonnell well, but that well, thats the point. Rahm emanuel, the first chief of staff, you clashed with him, hes gone. Another white house chief of staff, bill daley, he lasted just about a year. You are one of the few advisors thats still here. Jarrett yeah. Yeah. Odonnell is your relationship with the president more important than any other advisor . Jarrett no. No, and i as i have said to you many t odonnell oh, come on. Jarrett no, i dont think it is. And i think, look. There are many people with whom i have had great relationships who have left. Much to my regret. Sorry to see many of them go. I think this is a real tough environment. Odonnell really . The word is the word is, that you were, in part, responsible for their for their leaving. Jarrett well, i think that the only mo many of the people left left on their own, because of their own decisions. Im single. My daughter is grown. I live a mile away. Im able to give this job my 24 7 in a way that many people arent. And its reasonable to say that people would burn out. Odonnell but the president has had five chiefs of staff. Hes had one jarrett its a tough job. Odonnell hes had one Valerie Jarrett. Jarrett yeah. Yeah. My tenure is unprecedentedly long. Thats true, as a Senior Advisor. But i came in knowing i was going to stay until the end, if the president would have me. Thats the commitment that i made to him. Odonnell shes also made a commitment to push the issues she cares about. Every single day, families around our country share the bond of devastating grief caused by losing their loved ones to gun violence. Odonnell in the president s second term, she helped write executive actions on gun control and immigration that went around congress after the president failed to find common ground. Shes at the center of the administrations efforts to raise the minimum wage across the country and to expand paid parental leave. Shes also pushed for criminal justice reform, one of the few areas where the president has found bipartisan support. President obama it is one of the few regrets of my presidency the rancor and suspicion between the parties has gotten worse instead of better. Odonnell does the president think hes contributed at all to that rancor . Jarrett not to the rancor, no. I think his tone and his approach has always been one of bringing people together. Hes been the unifier. Hes one that focuses on what we have in common, not what our differences are. Odonnell but he said its one of his regrets. Jarrett well, its his regret that he wasnt able to break this terrible fever in our country among the republican party. So sure, he says to himself, you know, came he came to washington elected with this enormous optimism, which he still has about our country. But hes deeply frustrated and disappointed that he hasnt been get been able to get the republicans to work with him on issues which were traditionally bipartisan. Odonnell i keep thinking of the president s elections, and those posters that said, hope. Change. And in his final year in office, wheres the hope and the change . You cant even get a Supreme Court nominee a hearing. Jarrett well, the hopes and change, norah, doesnt come from washington. The hope and change comes from the American People. And the president s still extraordinarily optimistic about the future of our country. I mean, just look at whats happened in the last seven years. Our Unemployment Rate going from 10 down to 5 . Our Automobile Industry back. Ending two wars. 20 Million People with health care, many for the first time. We have a great deal to be proud of in terms of our accomplishments. Odonnell Valerie Jarrett is now helping to shape president obamas legacy after being by his side for the last seven years. She says if theres one thing shes learned, its that the president needs a friend in the west wing. Whats the lesson, then, of your relationship with the president and the first lady . Jarrett well, i think my advice to the next president would be to make sure that in your circle of advisors, you have somebody youve known for a long time. People who can set the tone of being being comfortable pushing back. Telling you when they dont think that youre right. Odonnell the next president needs another Valerie Jarrett. Jarrett i didnt say that. laughs i said the next one good thing is the next president gets to start all over again. This cbs sports update is brought to you by ford. Just outside of dallas, Sergio Garcia won the at T Byron Nelson in a suddendeath playoff. And in baseball action, max scherzer was impressive as the nationals beat the marlins. And the mets struck out 11 in their win over milwaukee. For more sports news and information, go to cbssports. Com. This is bill macatee reporting from the at T Byron Nelson. The new ford escape. Life is a sport. We are the utility. Be unstoppable. Itsand your doctor at yoto maintain your health. A because in 5 days, 10 hours and 2 minutes you are going to be 67. And on that day you will walk into a room where 15 people will be waiting. 12 behind the sofa, 2 behind the table and 1 and a half behind a curtain. Family surprise but only one of them will make a life long dream come true. 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