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blackstone, cbs news. >> cbs news, san francisco. >> reporter: in 1987, john blackstone was transferred to san francisco. from there, traveled the west. interviewing hollywood celebrities, even armed lebrities. >> i hear. stage right here. >> i have to be careful with the questions i ask. >> reporter: alongside the natural disasters, there was the human innovation of silicon valley that he reported on from the worldwide dominance of silicon valley tech giants. >> >>the kennedy center held its 41st annual celebration of the finest in american art. the kennedy center honors. this year's honorees are pop star cher, composer philip glass, country music legend reba mcintyre, and wayne shorter. the creators of hamilton received a special honor for their trail blazing work. norah o'donnell was at the show. >> join me in saluting our 2018 kennedy center honorees. >> reporter: the kennedy center honors kicked off with a tribute to the queen of country, reba mcintyre. >> thank you so much for comforting me on the phone through my tears. >> reporter: kelly clarkson gave a passionate performance of

ee el t>> repormeter:l for "cbs thi morning" jury john blackstone, san francisco. >> i'm glad they're still here and we finally got an ace of cups record. >> and they have such strong vocals, man. >> yes. and can we just say how great it to see john blackstone who's actually retired but left with us that piece? >> i know. >> so great. >> and we miss him already. >> we do. chris definitely does, his producer. >> yeah. >>> well, the world of wizards didn't begin with harry potter. magical folklore has a long history and some of it influenced author j.k. raw creations. we'll take you to a specific introduction to the topic next. you're watching "cbs this morning: saturday." rowli . >>> some relimg johns you have to pray three times a day thepy od oc what are you praying about? >> thank you for this house you're letting me l in. oh my gosh i love itiv.e i don't preach. i try to live by example. i'm not perfect. i'm a little renegade a lot of times. i like to have a drink of whiskey. but'm eye good person anda good not to hurt anybody's feelings. >> about that renegade, let's talk about th

john blackstone stopped in at a place that invented the irish coffee. he was looking for the secret recipe. >> reporter: with cable cars running past its door, the buena vista cafe opened in 1916 is a san francisco institution. >> i'm john. >> nice meeting you. >> reporter: and for over 40 years, it's had the same bartender whose been making the same drink that made the buena vista famous. how many irish coffees have you made in 41 years? >> they say four to five million. i just take their word for it. i didn't count 'em. >> reporter: if anyone knows the story of how irish coffee first came to america back in 1952, it's paul nolan. >> yeah, the original recipe came from ireland. the inventor gave the recipe to the beat writer of the chronicle, stan della plane. >> reporter: so stan della plane who brought irish coffee from ireland to here, he was newspaper guy. he was a reporter. >> he was a newspaper. >> reporter: so it is proper for me to say maybe a news reporter is the originator of irish coffee in america other than a bartender? >> let's say he con

, read john lock and read the bible. thank you very much. [ applause ] >> thank you so much for stimulating, illuminating an important lecture. i am going to sum up the large ideas that i just heard and then ask our remarkable panel to debate and discuss them. first, let me introduce them. marcy hamilton is robert a. fox leadership program professor senior fellow in the program for research at the university of pennsylvania. i should have taken a deep breath before that one. contributor to the national constitution center's interactive constitution. friends in the audience, i want you after this discussion to download the interactive constitution and read the provisions on the religion provisions of the first amendment. you'll see marcy debating michael mcconnell and other great scholars agreeing and disagreeing on the core meanings of the provisions. we also are honored to have daniel mark who is the former chairman on the commission of international religious freedom and assistant professor of political science at vill

jason: john gray is the president and the coo of blackstone. he has spent years building and running his real estate group. what are they going to be buying and selling in the year ahead? >> we have had a great run in asset prices for a long time. the fed has begun to raise rates. we've had some issues in emerging markets. oil prices have come down sharply. i think it is natural that you have this kind of volatility at some point during the cycle. i don't think that is necessarily bad. for our business this is generally good. asset prices could keep grinding higher. if you have a business model like we do, we have discretion, where things drop in price and we could move quickly, and because you are not short-term finance or forced to sell. for us we say, wow, there are lots around the world that have been repriced. this could be more of an interesting investment environment going forward. jason: they have been repriced already? what was the catalyst? >> the u.s. stock market is down 10% from where it was. credit spreads have gone out. in certai

gray, the president and coo of blackstone. more than $450 billion in assets under management. this past year was his first year at the helm of the firm, afterf that years of building its real estate group. we talked about volatility in the market, what will happen to asset prices, what they will be buying and selling in the year ahead. >> we are certainly in a world with more volatility. the data would say that. and i don't think we should be shocked by that. we had a great run in asset period of a long time. volatility had been fairly low. the fed has begun to raise rates. we have some trade tensions out there. we have some issues in emerging markets. we have some issues in europe as well. oil prices have come down sharply. i think it is natural you have this kind of volatility at some point during the cycle. i don't think that is necessarily bad. for our business, this is generally a good thing. because if asset prices keep grinding higher, it is hard to find opportunity. and so if you have a business model like we do, where

, the president and the coo of blackstone. $50 billion of assets under management. this past year was his first year at the helm of the presidency in the firm after years building and running his real estate group. of course, we talked about volatility in the market, what will happen to asset prices, and what will they be buying and selling in the year ahead? >> we are certainly in a world with more volatility, the data would say that. and i do not think we should be shocked by that. we have had a great run in asset prices for a long period of time. asset prices -- volatility has been low. the fed has begun to raise rates. we've had some issues in emerging markets. we have had some issues in europe as well. you know, oil prices have come down sharply. i think it is natural that you have this kind of volatility at some point during the cycle. so i don't think that is necessarily bad. for our business, this is generally a good thing. if asset prices keep grinding higher, it is hard to find opportunity. if you have a business model like we do, where you have capital ti

coo of blackstone. than 450 billion dollars of assets under management. this was his first year at the helm of the presidency, and we talked about volatility in the market, what will happen to asset prices, what they will be buying and selling in the year ahead. >> we are certainly in a world with more volatility. the data will say that. i don't think we should be shocked by that. we had a great run in asset prices for a long time. volatility had been fairly low. the fed has begun to raise rates. we have some trade tensions out there. we have some issues in emerging markets, we have some issues in europe as well. oil prices have come down sharply. i think it is natural you have this kind of volatility at some point during the cycle. i don't think that is necessarily bad. for our business, this is generally a good thing. if asset prices keep grinding higher, it is hard to find opportunity. if you have this business model like we do, where you have capital tied up for long periods of time, you have discre

gray, the president and coo of blackstone. more than $450 billion in assets under management. this past year was his first year at the helm of the presidency of that firm, after years of building and running its real estate group. of course we talked about volatility in the market, what will happen to asset prices, what they will be buying and selling in the year ahead. john: we are certainly in a world with more volatility. the data would say that. and i don't think we should be shocked by that. we have had a great run in asset prices for a long period of time. volatility had been fairly low. the fed has begun to raise rates. we have got some trade tensions out there. we have some issues in emerging markets. we have some issues in europe as well. you know, oil prices have come down sharply. i think it is natural that you have this kind of volatility at some point during the cycle. so, i don't think that is necessarily bad. for our business, this is generally a good thing. because if asset prices keep grinding higher, that is

, the president and the coo of blackstone. more than $450 billion assets under management. this past year was his first year at the helm of the presidency of that firm after years of building and running its real estate group. of course, we talked about volatility in the market, what will happen to asset prices, and what will they be buying and selling in the year ahead? jonathan we are certainly in a : world with more volatility, the data would say that. and i do not think we should be shocked by that. we've had a great run in asset prices for a long period of time. volatility had been fairly low. the fed has begun to raise rates. we have got some trade tensions out there. we've had some issues in emerging markets. we have some issues in europe as well. oil prices have come down sharply. i think it is natural that you have this kind of volatility at some point during the cycle. so i don't think that is necessarily bad. for our business, this is generally a good thing. because if asset prices keep grinding higher, that's hard

, the president and the coo of blackstone. more than $450 billion assets under management. this past year was his first year at the helm of the presidency in the firm after years of building and running its real estate group. of course, we talked about volatility in the market, what will happen to asset prices, and what will they be buying and selling in the year ahead? >> we are certainly in a world with more volatility, the data would say that. and i do not think we should be shocked by that. we have had a great run in asset prices for a long period of time. volatility had been fairly low. the fed has begun to raise rates. we've had some issues in emerging markets. we have some issues in europe as well. systems you know, oil prices have come down sharply. i think it is natural that you have this kind of volatility at some point during the cycle. so i don't think that is necessarily bad. for our business, this is generally a good thing. because if asset prices keep grinding higher, that's hard to find opportunity. if you have

john gray is the president and his coo of black -- the coo of blackstone. he has spent years building and running his real estate group. what are they going to be buying and selling in the get ahead? -- year ahead? we have had a great run in asset prices for a long time. the fed has begun to raise rates. we've had some issues in emerging markets. oil prices have come down sharply. natural that you have this kind of volatility at some point during the cycle. i don't think that is necessarily bad. for our business this is generally good. asset prices could keep grinding higher. you have a business model like we do, we have discretion, where things drop in price and we could move quickly, and because you are not short-term finance or forced to sell. wow, there are lots around the world that have been repriced. of anould be more interesting investment environment going forward. jason: they have been repriced already? what was the catalyst? u.s. stock market is down 10% from where it was. credit spreads have gone out. classes, theret has been more displacement.

, read montascue, read john locke, and yes, read the bible. thank you very much. [ applause ] >> thank you so much, professor driesbach for a stimulating, illuminating and important lecture. i am going to sum up the large ideas that i just heard and then ask our remarkable panel to debate and discuss them, but first let me introduce them. marcy hamilton is leadership program professor and pavilion research fellow at university of pennsylvania. wow, i should have taken a deep breath before that one. marsy is o marcy is one of the leading scholars and contributor to the interactive constitution and friends in the audience, i want you after this discussion to download the interactive constitution and read the provisions on the religion provisions of the first amendment and the establishment clause and the reaction clause and you will see marcy debating michael mcconnell and other great scholars, liberal and conservative scholars agreeing on the provisions. we also are honored to have daniel mark who is the former chairman of the united states com