Seger, Lightfoot among songwriter hall inductees

Gordon Lightfoot, left, and Bob Seger at 43rd annual Songwriters Hall of Fame inductions Monday night in New York Getty Images

(CBS News) NEW YORK -- Some of the biggest names in music past and present got together Thursday night to honor new members of the Songwriters Hall of Fame.

It didn't have all the glitz and glamour of the Grammys or the MTV Music Awards, but the stars on stage were still shining brightly.

Pictures: Songwriters Hall of Fame Induction 2012

Forty years after penning "Turn the Page," his anthem to a musician's life on the road (best-known for its lyrics "Here I am, on the road again), Bob Seger was honored for his efforts with an induction into the hall, which is actually a virtual museum.

The Detroit native, who called songwriting the hardest but most rewarding part of his job, was one of several inductees to take the stage at the New York ceremony.

While Kenny Rogers made "The Gambler" famous, it was Don Schlitz who made it possible.

One of music's most prolific writers, Schlitz has penned 24 No. 1 country songs, and now can now add Hall of Famer to his resume.

Meatloaf performed the title track from his breakthrough 1977 album, "Bat Out of Hell" before introducing the man who wrote it, calling Jim Steinman "the magnificent, the unbelievable - my best friend in the entire world."

Steinman penned every song on the immensely popular record, which has sold more than 70 million copies.

In a room of great songwriters, few were held in higher regard than inductee Gordon Lightfoot. The Canadian troubadour was instrumental in shaping the sound of folk music in the '60s and '70s.

And Stevie Nicks paid tribute to Bette Midler by performing "The Rose," a song Midler made famous more than 30 years ago.

"I don't think the song has never sounded better," Midler said in thanking Nicks.

Midler received a lifetime achievement award for her efforts to further the success of songwriters.

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