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 you're 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, i'm fine." i mean, that's the way it works. >> i'm steve kroft. >> i'm lesley stahl. >> i'm morley safer. >> i'm bob simon. >> i'm anderson cooper. >> i'm scott pelley. those stories tonight on "60 minutes". financial noise financial noise financial noise financial noise do you have something for pain? i have bayer aspirin. i'm not having a heart attack, it's my back. i mean bayer back & body. it works great for pain. bayer back & body provides effective relief for your tough pain. better? yeah...thanks for the tip! dunkin' donuts bakery series coffees, with bakery fresh flavor dunked right in. try blueberry muffin flavored coffee today. one taste, and you'll understand. pick some up where you buy groceries. ...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. 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( laughs ) a staggering variety of colors and designers. you'd think the competition would force the prices down. wow, look at that. one reason it hasn't is a little-known but very big italian company called luxottica. if you own a nice pair of specs or shades, they're 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 eye-opening. 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 don't 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 they're 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 there's a lot of work behind them. >> stahl: luxottica's 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 wasn't 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: they're not even called "glasses" anymore; they're "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 it's almost; it's not the same. >> stahl: not the same because of details on the frames like the little chanel cs, polo ponies, or tiffany blue. luxottica wouldn't 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 chanel-bag 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 isn't 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 best-seller wasn't a fancy fashion house label. it was a brand they outright own, ray-ban. 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 ray-ban for more or less a year. >> stahl: when you bought it, you could buy them for, i don't 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 ray-ban is the top-selling sunglass brand in the world. when americans go to buy these glasses, i'll bet 99% think they're buying an american brand. >> guerra: it is an american brand. what's wrong with it? i mean, it's an american brand owned by italians. i think the world is... the world is this. >> stahl: it is the world, and we don't realize it, that's the thing. before i started working on this story, i'd never heard the name luxottica. >> guerra: yeah. >> stahl: which is all the more surprising since luxottica not only bought ray-ban, they also bought lenscrafters, the largest eyewear retail chain in north america. so now they make them and they sell them. it's great for business, but is it great for the consumer? mark weikel was then-president of lenscrafters. how many non-luxottica brands do you sell here? >> mark weikel: we probably have a few brands that aren't 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, you're not answering my question. i'm asking if you charge less for frames made by luxottica since you're the same company. >> weikel: i think every competitor, every retail optical brand, determines what their pricing is on whatever their brands are. >> stahl: that's 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, there's choice in the mall for other glasses. but luxottica doesn't 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 we're 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 don't 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, it's like... you know, it's like pro- wrestling competition. and it's actually fake competition. >> stahl: consider what happened to oakley, the world-famous maker of advanced sports eyewear. >> arends: oakley was a big competitor, and they had a fight with luxottica. and luxottica basically said, "we're 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 oakley's stock price collapsed. how is oakley going to reach the consumer if they can't 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 wouldn't 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, ray-ban and oakley. but luxottica points out there are other players. who's 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 ray-bans. so luxottica can set the prices as high as it wants. >> arends: luxottica's dominance, it's what's 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 optician's. >> 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, there's actually a lot of comparisons. the difference is that the entire shoe industry isn't made by one company. and the same company doesn't also own all the shoe stores. >> stahl: you'd think, well, surely, insurance companies covering vision would complain. but guess what? luxottica also owns the nation's second largest vision-care plan, eye-med, covering eye exams and glasses. what don't 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: it's an illusion of choice if you're all owned by the same company. >> guerra: i think this is totally wrong. the question is, what kind of choice consumer has. it's 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: you're trying to tell me it's all worth all that money. >> guerra: everything is worth what people are ready to pay. >> stahl: and you know what? he's right. it seems people are ready to pay-- a lot. i bet they cost a fortune >> they're 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 isn't reached. the congressional budget office says a bill that's passed the budget will double spending on veterans' health care by 2017. and the fed kicks off a two-day policy meeting on tuesday. i'm jeff glor, cbs news. how are things with the new guy? 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( 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 i'd 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 non-profit called open table nashville that's been working with the 100,000 homes campaign to survey the city's homeless and identify those at greatest medical risk. do you think he's at high risk? >> mcintyre: i mean, he's 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: it's in a private building in downtown nashville. he wouldn't 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 we're really aiming for in this movement is that person that's been on the streets, many cases for decades, who you walk past and you're like, "oh, i can't 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 it's the chronic cases, people homeless for more than a year, who kanis says are most in need of help. >> kanis: they're out of friends who will let them sleep on their couch. they're out of friends who will help them get a job. they've burned the bridges of the friends, or they just didn't 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 in-patient hospitalizations. and one night in the hospital is a whole month's rent, on most places. >> cooper: so you're saying it's 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. she's 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; it's boots-on-the-ground intelligence that i think is one of the defining factors. >> cooper: to get that boots-on- the-ground 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 name's 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. i'm 39 years old, and i ain't got nothing, you know what i'm saying? i don't 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, i'm straight." >> cooper: so, how do you think you... you ended up on the street? >> thomas: honest with you, man, i can't tell you. i really don't know. i messed up. somewhere, i messed up, yeah. >> cooper: will connelly is director of the city's homelessness commission. he is the person who decided nashville should adopt the 100,000 homes campaign's approach. he'd 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, it's... it's 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 part-time work, social security, or disability. some apartments, like robert mcmurtry's, were provided by civic-minded 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 what's the pushback you're 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 don't we go around the room and introduce ourselves? >> cooper: no new tax dollars were required for nashville's campaign to house the chronically homeless. a lot was achieved by getting people who don't normally work together, such as outreach workers and private landlords, to focus on the city's most desperate residents. >> what i'll do is try to save two units, and we'll 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 you've... you've identified? >> connelly: the most vulnerable is... his name's 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 can't afford liquor. frank was 66-years-old and said he'd 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, it's awesome. i mean, you don't see people like this that help people out, you know. >> cooper: to try and ensure the homeless don't 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 ain't no angel, i'm a damn drunk. ( laughs ) >> cooper: in the weeks that followed, social workers tried to help frank get treatment. they even drove him to appointments. he'd 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 working-poor families, rather than somebody like frank. is it fair to give somebody an apartment who's made bad choices and is being irresponsible? >> kanis: i don't think fairness is the right way to look at it. what i would prefer to look at it is what's 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 you're rewarding somebody, though, who's... 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: how's it going? everything went great this morning? i'm 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 weren't enough apartments for everyone. ernest thomas didn't 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 doesn't 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 that's possible once someone's in housing. there is something that's really dehumanizing about living on the streets, in so many ways. and then, really, in a matter of days, from having housing, the physical transformation is almost immediate, and they're unrecognizable from their former selves. and i don't think that there's anybody, once they see that, that would say, "well, let's put them back on the streets again." i always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. here at fidelity, we give you the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and e-trade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. call or click to open your fidelity account today. >> 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." it's 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 country's 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 you're 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, i'm fine." i mean, that's the way it works. i mean, you know, that's... that's the way these things are. that's the way it happens. >> kroft: and no one knows it better than jay leno. >> and now, jay leno! >> kroft: he's 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 it's 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 he's survived in a cutthroat business largely on his own wits and talent. it's just you, right? you don't have an agent? you don't have a manager? >> jay leno: no, i don't 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, they're very happy with you, but they want you to change..." well... well, i get it right from the horse's mouth, you know? and that's... that's 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: there's a controversy that won't 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. he's 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 it's... you're trying to appeal to the whole spectrum. if you look at the monologue, for every smart, insightful joke, there's a goofy joke and a silly joke and a fun joke, then a clever joke. that's the trick, you try to have something for everybody. >> kroft: and it's worked for you? >> leno: seems to. >> kroft: but there's been plenty of turbulence along the way. it began in 2004, when conan o'brien, leno's young heir apparent, threatened to leave and go to fox if nbc didn't 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, "you're out. you got... you know, going to go with this and ba, ba, ba." "oh, okay." and i went, "okay." >> kroft: "you're out. you're 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 didn't? >> leno: no. i mean, "why?" no. ( laughs ) >> kroft: no, i don't mean like..." >> leno: "why?" >> kroft: no, i mean-- >> leno: "why are you doing this?" >> kroft: no, i mean, kind of like, "okay, so why? what's the..." >> leno: you know, you have a girl says... >> kroft: "...logic behind this?" >> leno: "...i don't want to see you anymore." "why?" you know? she doesn't want to see you anymore, okay? >> kroft: they didn't say that. they said, "we... we don't want to see you after four more years." >> leno: "you're fired four years from right now." ( laughs ) i mean, isn't that hilarious? i mean, it's... it's got... what's more show-bizzy than that? what's the funny... "you're fired four years from now. get out in four years." ( laughs ) >> kroft: but it wasn't 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, i'm going to go to a secluded spot where no one can find me-- nbc primetime. ( laughter ) of course, we're not really leaving; we're coming back at 10:00 in september. i'll admit it's a gamble, it's a gamble. i'm betting everything that nbc will still be around in three months. that is not a given. >> it's the "jay leno show"... >> kroft: leno's 10:00 show tanked, and so did the ratings of "the tonight show" with conan o'brien, which dropped out of first place. nbc panicked when the network's affiliates began clamoring for leno's 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 didn't 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 o'brien: 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 didn't quite understand that. but i never chose to answer any of those things or make fun of any of the other people involved. it's... it's not my way, and you just go and you be a comedian and you do what you do. >> mavis leno: i'm sorry. this is a subject i'm very, very angry about to this day. >> kroft: jay's 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. don't 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. there's 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 couldn't 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: it's not my decision. and i think i probably would have stayed if we didn't have an extremely qualified young guy ready to jump in. if they said, "look, you're fired. we don't know who we're going to get. we don't know what we're 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, it's 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 don't understand. i mean, you're still number one. >> leno: well, i think, because you have talented people will only wait so long before they get other opportunities. and you don't want to lose that opportunity. that makes sense to me. and i thought jimmy's 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, we'll 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 that's about right, you know? i really like jimmy fallon. i think he's terrific. you know, when i see him do a dance number with, you know, justin timberlake or somebody, i go, "i can't do that." ♪ ♪ i think, after a while, you know, i'm... i'm not going to be that up on the latest justin bieber record when you're 64. you know, whatever it might be, so... >> kroft: do you know what justin bieber's latest song is? >> leno: no, i know you do, but i... no, i don't. ( 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 country's 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, they're 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 battery-powered 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 car-obsessed comedian, dropped by for the taping and a tour. i'd been there 22 years ago. it's still leno's only known outside interest. it's much... much bigger now. it's 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: there's been no emotional growth? is that your... what you're 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 i'll step over here. ( laughter ) >> kroft: you haven't branched out. you haven't, 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: i'm 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. you're a workaholic. what are you going to do? >> leno: i don't know what i'll do. will i do another late night show to go against any of these people? no. no, that... no. you can't recreate what we had at "the tonight show." that was a 22-year moment in time. it was fantastic. and i loved it. would i like to do things with... oh, i don't know, history channel? yeah, i think that would be fun to do. >> kroft: so you're going to the history channel? can we go with that? >> leno: no, no, no, i'm not going to the history channel. ( laughs ) but i really like being a comedian. i mean, i like going on the road. it's really fun making people laugh. >> kroft: last year, leno says he did more than 100 stand-up performances, in addition to his "tonight show" duties, and that doesn't include his regular gig at the hermosa beach comedy and magic club. >> leno: i've been here every sunday night since 1978. so it's probably safe to assume this will continue. you know, this club is good because... >> kroft: do you have a contract? >> leno: no, no, there's no contract. it's a real audience to test what works and in... in a real situation. oh, i'm on right now. what's more fun? and when it's successful, it's very rewarding. there really is no greater satisfaction than the adulation and respect of other human beings. how's 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 don't get that in their jobs, you know? every day, i walk out and i get that on my job, and it's... it's very rewarding. and i don't take it for granted and it's 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 leno's career. has jay leno changed? go to 60minutesovertime.com. sponsored by pfizer. 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