The plan for a new California city

A group backed by some of California’s richest has purchased some 60,000 acres of farmland in Northern California, as part of an ambitious plan to build a brand-new, walkable city in the nation’s most car-centric state, for as many as 400,000 residents. Correspondent Luke Burbank talks with Jan Sramek, a former Goldman Sachs trader-turned-city builder about the “California Forever” initiative, and why the idea is facing some resistance.