announcer: the thrill of living well is in pursuit. the pursuit of the rarest experiences. the pursuit of the finest products. the pursuit of quality in everything you do. and in all of these pursuits, you need the best intelligence to make the best decisions. >> we know that she sells for a lot, but what makes her important? >> it isn't easy. it's difficult work. announcer: welcome to "bloomberg pursuits," where you find information to help you follow your inspiration. in this edition, what you drive is important, and so is who you ride with. hannah elliott talks cars with jay leno. jay leno: they're sort of like dinosaurs from another era.

this is the sort of demographic car that the average tv viewer would remember. announcer: learn the rules of cocktail bars. >> give the bartender something to work with. say i like whiskey, what is good with whiskey? or something we can build on? announcer: and see how the world's most spectacular watches are put together, one tiny magnificent piece at a time. >> with a mechanical watch you buy today, it is not the leading technology anymore. it is really craft and art. you are not racing for the technological breakthrough, you are racing to make the more spectacular watch. announcer: but first, travel with us to an of the world's legendary destinations. >> whether you know it is the city of light or love, paris's charm is irresistible and nmissable. its galleries, cafés, and wine

bars are revered the world over. welcome to "bloomberg pursuits." we will show you how to make the most of paris when you're here on business. >> the historic center of paris has been missing two of its most famous institutions for the past four years. the ritz, probably the world's most famous hotel, and its even more exclusive brother, the crillion, were closed for renovation. well now they are back, and they are better than before. before, the ritz was under threat from modern hotels. a $450 million renovation has brought this grand building into the 21st century. welcome inside the ritz's premium suite. there's no shortage of marble, goldleaf, or antique furniture.

decadence is still the order of the day. and this could all be yours for cool $33,000 a night. staying in the ritz has its perks. down in the basement is the hotel's own cooking school, in case you need to brush up on the culinary craft. the ritz's head pastry chef can show you how to make the perfect macaron. >> last one. >> yes, great job. >> if the ritz is famous, then its bar is legendary. the hemingway is named after the american author who liberated it during the second world war. the man behind the bar is colin fields, ranked as best bartender in the world by "forbes" and "travel and leisure" magazines. colin's got a drink for any occasion. > perfection in a glass. >> paris is trying to go green.

banning diesel cars by 2025. the churn of the city is hard to escape, but it is possible. there are beautiful parks. it's also transformed one of its busiest stretches of road into a new two-mile pedestrian route along the seine. paris has been making perfume since the 14th century. how exactly scents are created remains a closely guarded secret, but here at ex nihilo, a newly opened store, you get a chance to design your own perfume. paris' hotel scene is welcoming back its other grand palace hotel, the crillion. if the ritz is playing it safe, then the crillion is taking risks, and it's worked. modern art adorns the lobbies and bars, while staff are useful and dressed to the nines. if you thought the ritz was expensive, then take a deep

breath. suites start at $1350 and go up to an eye-watering $38,000 a night, but every room has its own butler with modern styling mixing seamlessly with tradition. before the renovation, the crillion was seen as aging and stuffy. ell, the cobwebs have been blown off, revealing a new hotel of style and substance. a barber is on-site to make sure your beard is as sharp as your suit, while in-house cobblers are at the ready to keep you looking like you belong. food and the art of taking the time to enjoy it are traditions the french hold dear. and i've got some tips for the uninitiated. first, don't do lunch el desco. the french hold to traditional mealtimes. if going out for a work lunch, always plan to sit at around

1:30. second, if you're headed to a nice restaurant, book ahead. you need to make a reservation or you will end up locked out. don't be afraid, even if your french isn't great. chances are the maître d' will speak some english. >> if you've got a morning to spare and want to get out of the city, here's a surprising option. the champagne region is just 35 minutes away by helicopter. it's not cheap. prices start at $1000, but in no time at all, you will be sipping away. if you get the chance, check out the ballinger cellar. this 188-year-old winemaker has one of the world's largest. so, now you've had your aperitif, it is time to head back to paris.

his city knows how to do uxury. it has had some practice. other cities might be biting at their heels, but paris still leads the way. there's no revolution needed. great food, dangerously good wine, killer style -- they make t look easy. announcer: from the city of lights, let's head to hollywood. hannah elliott rides shotgun with a king of comedy who is also a connoisseur of cars. jay leno: well, the first car i bought when i came to california was my 1955 buick roadmaster, which i still have. it's how i met my wife in it, i got married in that car. announcer: plus, learn the rules for being a star at a ocktail bar. >> when it comes to house cocktails, try the way it is made, the way it is written on the menu. chances are, the bar staff put a lot of effort into making that drink taste as good as possible.

announcer: and later, peek inside a factory that makes timeless timepieces. >> we have more than 30 different job descriptions. purely different educations, and you find this education, this training, only in this region. because nowhere else in the world do you need this kind of know-how. announcer: this is "bloomberg pursuits." ♪

announcer: getting a drink at a good bar is one of life's great pleasures, but there are right ways and wrong ways to go about it. let's go over the rules. mr. bell: i'm jeff bell, the general manager of pdt here in new york city. today, we'll go over a few do's and don'ts of drinking at cocktail bars. there's a few things i see on a

nightly basis that i want to address and share with you and things that can make your life easier. don't come into a bar and ask what's good because the bartender does not know what you like. give him something to work with. say, i like whiskey. what's good with whiskey? you know, something that we can build off of. if you have dietary restrictions, no problem. we have plenty of options that can fit your needs. just don't start deconstructing our drinks, adding substitutions here and there. it's going to slow everything down, drinks are going to take a while, and everyone will be mad at you after that. when it comes to house cocktails, try the way it's made, the way it's written on the menu. chances are, the bar staff put a lot of work into making that drink taste as good as possible the way it is. speaking of being dissatisfied with the drink, if you are, it happens. let us know. just let us know as soon as possible. don't drink half the cocktail and then tell us. tipping a dollar per drink -- it works at your local bar when they are pouring a draft or opening a bottle of beer, but a little more elbow grease goes

into a making a craft cocktail for you. most guests tip 20% per craft cocktails. just because you step foot in a cocktail bar doesn't mean you have to order a cocktail. if it's a good bar, they should have good beer, good wine, good nonalcoholic offerings. at the end of the day, drink what you want. here at pdt, on friday nights it can be a three-hour wait. if you come into the bar, sit and have a glass of water, you are taking away the opportunity for someone else to have a good time. bars in places like new york and london, the rent is extremely high, so the seat you are sitting in is quite coveted. if you are wondering whether or not you had too much to drink, you probably have. many states hold bars and bartenders are legally responsible for the state of our guests, even after you leave the bar. if you sense you are about to be cut off, avoid the fight. you are not going to win. remember, you came to the bar to have a good time. so did everyone else. be considerate to the rest of guests in the bar and the staff, because we are all in this together. announcer: hannah elliott can tell you everything you need to know about cars, but there's more to the automotive experience than just the

machine, as hannah explains. hannah: you don't write about cars for a living without meeting some pretty interesting characters. so i'm circling back and getting cozy with some of my favorite automotive aficionados. we'll talk shop, luxury, and passion in a new series i call "crossing lanes." ♪ jay leno: good to see you again. what's it been, a couple years, right? hannah: a couple of years, yeah. thanks for having me back. jay: there are a few new things. i bought something i think could not be more americana. this is a 1958 imperial. the epitome of american optimism. the post-war, we'd won world war ii, we started a space program, all cars had fins and the jetsons was coming on tv. hannah: how many feet is this car? jay: i don't know, people lose count. they are sort of like dinosaurs from another era. this should be the demographic car that i think the average tv viewer would remember. look how much room there is in this car.

ust hilarious. i love how huge the gauges are. they're like giant pie plates. this was considered safety. hannah: padded with leather. jay: the way you start this, you turn the key, and push the neutral button. everything is pushbutton. hannah: people think that's a new car thing, but actually, old cars. jay: if you can type, you can drive. push the button, and you pull away. how many cars can you cross your legs in the front seat? hannah: i mean, none. except for this. jay: comfortable car, isn't it? you don't get all windblown. hannah: we can have a conversation even though we are so far apart. jay: you wonder how many 16-year-olds took their drivers tests in these big, stupid things? hannah: what about the parallel parking section? that would be an issue. so, what cars did you grow up idolizing when you were a young kid?

jay: when you grow up in a little town in new england, anything with less than four doors might as well have been a ferrari. nobody had cool cars. i was 9, 10 years old. driving my bicycle up the hill, i saw an old man polishing a 1951 jaguar xj-120, and i was fixated. he said, come over here, you want to sit in it? it was unbelievable. i've never seen anything like that. you have to remember, back in 1959, 1960, most car magazines were black and white. you did not get the excitement or speed or anything from it. hannah: who taught you how to drive? jay: so many houses had abandoned cars in their field, and there was a 2cv in a field near my friend's house. when we were kids, we would go over there and work on it. we got it running and we just would drive around the fields all day. our moms would sit at the kitchen window and watch us. ok, i did all right. hannah: once you finally started making some real money, did you finally buy a special car to purchase?

jay: the first car i bought when i came to california was my 1955 buick roadmaster, which i still have. i got off the plane. i had no place to live. and in california, you need a car before you have a place to live. hannah: of course. jay: i bought the 1955 buick for $350. i lived in that, i slept in it, i met my wife in it, i got married in that car. drove that car to my first "tonight show." and i still have it. that was a special car. hannah: how would you define a luxury car? jay: nobody does luxury like the french. the french put a premium on comfort while driving. the cars don't appear to be ostentatious or flashy, but they are exceptionally nice to drive and very, very comfortable. we americans tend to confuse luxury with crass, garish. look at trump's apartment. is sitting on a gold chair really comfortable? no, it's not luxury at all. it's like oscar wilde. you know, the price of everything, the value of nothing.

hannah: have you ever paid more than you thought you should? or something that you bought? jay: no, all i have done is buy too early. i see a lot of people, they buy something because they immediately think they will make a lot of money on it. then when they find out it is not worth as much as they thought, now they hate the car. the most important thing is buy what you like and then worry about the price later. i don't mean that from a rich standpoint. better off if you pay a little bit more and buy something you truly enjoy. you know? hannah: if you were 21, 22, 23 now, would you still get into the business? jay: i always liked telling stories and doing comedy. i mean, i always liked talking to people. so, yeah, i think that i would. my dad sold insurance, and he as -- he became manager, and once a month, to motivate the men, he would put on some kind of goofy show. he would play the sinatra song "high hopes" and he would juggle.

i thought i would sell insurance because you get to do a show once a month. hannah: that is very interesting. i love that. well jay, it has been so great talking with you. jay: it's always fun when you come by. we have fun. we have a good time. and let's continue motoring. hannah: motoring. that's a trucker term. announcer: up next, here is a luxury product still made by hand. there is a painstaking process behind each of these beautiful watches. >> with the mechanical watch, it is really the object, the physical object of the handwork which makes it special and unique. announcer: this is "bloomberg pursuits." ♪

announcer: to close out "bloomberg pursuits," a regular series we call "made," because to truly appreciate an object of luxury, you need to go back to the beginning and see how it came to be. the swiss watch brand arnold & son makes luxury timepieces from scratch. the company's former head of product development took us inside the process earlier this year. ♪ >> every new watch is like a new piece of art. it has a different story to tell. it's a very interesting thing about watches. on one hand you have a high precision device. and the other thing is they have to be hand finished, which is very related to arts and crafts. you have these two worlds in one watch. both aesthetic aspect and the mechanical aspect of it.

>> here we are on our premises where we manufacture all of our watches. arnold & son refers to john arnold, who was one of the biggest and most important watchmakers who ever lived. he invented a lot of technical solutions still in use today. the aim of the modern company is to innovate and continue his legacy, but in a contemporary, new manner. the idea is really to continue the story more than repeating it. first, with the design team, we design how the watch should look like -- the size it should have, the thickness. you have to have the mechanical harmony. is it good looking or not? and when we are happy with the new complications and think the watch has something new, then we create basically the inner works, which will make the aesthetic happen. the first thing you have to do is to order the right material because we use a lot of different materials in the mechanical movement, going from brass to steel and titanium or gold and you need a specific

material for every different part of it. >> once you have the raw material, you start remaking the components. you have different kind of raw materials going to different workshops, so depending on the part you want to make. if you want to do watch making on a superhigh level, you need extremely skilled and specifically trained people. we have more than 30 different job descriptions, purely different education, and you find this education, this training, only in the region. because nowhere else in the world do you need this kind of know-how. working with tiny parts is a challenge because tiny parts make very small tolerances. we are working in microns tolerances, you cannot do anything without good tooling. we have an in-house toolmaking department, which makes from the little screwdrivers a watchmaker needs, up to a stamping tool, which takes

months of development. the reason why we do our tooling in-house, because if you are not mastering your tools, you are not mastering the part you want to produce. >> once all the parts are cut with machinery, it goes to be cleaned. it's submitted to quality control, who decides if the part is good enough to do the decoration workshop. different kinds of traditional decorations are applied. from the geneva stripes, satin finish, depending on the components. the mechanical watch you buy today is not the leading technology anymore. it's really craft and art. you are not racing for technological breakthrough, but you are racing for more spectacular watches. you build a very different relation to a mechanical watch than you do to an electronic device because the day you buy it, you know the next one will come and you will swap it to getting the better one. with a mechanical watch, it is

really the object, the physical object of the handwork which makes it special and unique. that makes, i think, a big difference to something more on the electronic side. >> once these parts have been decorated, they are quality checked again to see if the decoration has not affected the functional aspect of it. that is always a bit of a trick. you have to decorate but not obliterate the part. they go to be reassembled in a specific workshop before going to the watchmaker. you set stones into mainplates, put axis onto wheels, and once all these parts have been preassembled, the watchmaker does the finalizing. the watchmaker gets all the little parts in little boxes, they take the mainplates, which is the base that everything that is built on, and the wheels, put different ridges to hold the wheels in place. you have to add the winding mechanism because you want to be able to wind your watch.

put a dial on it, then you put hands, and one last thing we add always at the end is the escapement. which is basically the heart of any mechanical watch. it is also what you hear when you listen to a watch, when you hear the tick-tock. it is the very first time you will see and hear your watch oving. starting from the simple beating, it's a long process going to a highly accurate mechanical watch. you cannot just put the parts together and expect the watch to tell perfect time. we are checking the watches on different vibration and other machines to get really sure verything is ok. there is tiny bit of dust you do not see when you put it together, but when you move the

watch, it can affect the ovement. well, this process is really really long, but this is what the complexity of such a mechanical device requires. >> once you see the accuracy of the movement is good, you put it into a watch case where we protect the movement. you add the bracelet and the buckle and you have a watch. watches are most of the time perceived as a time capsule. it's really something still built today as it used to be for the last century. it's nice for people to buy something which has always existed and probably will always exist as a form of art. announcer: you can find more films from our "made" series as well as many more "pursuits" stories and videos at bloomberg.com/pursuits. thanks for watching "pursuits." this is bloomberg. ♪

♪ jonathan: from new york city, i am jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, the president is said to lean toward jay powell to be the next chairman of the federal reserve. the u.s. economy delivers its best back-to-back quarterly growth since 2014. and draghi's stimulus plan helps insulate europe from political chaos in spain. we begin with the big issue. it could be the moment of truth for the bond bull market. >> it has been the graveyard of investment strategists for the last two or three years.